Bitcoin Forum

Please continue discussion here: https://bitcointalk.org/index.php?topic=1179847

So I've been trying to think of a way to leverage my strong reputation here on the forums. Trying to think of a niche that could be filled. And I had this idea.

I thought maybe I could run an orderbook where people could place bids, asks or market orders and when ever an order was matched one party could send me bitcoins and the other cash in an envelope in the mail. I would subtract my fee and forward the funds two the respective parties. It would be a 0 hassle way to buy or sell bitcoins without being involved in the banking system and without fear of being scammed.

Also does anyone have any input on the legality of such an arrangement? Would I be considered a "money transmitter" and require a "money transmitters license"? It doesn't seem like it should since its just cash in the mail. That would make gradma sending her grandson a birthday card a money transmitter.

Think the fact its bitcoin related would cause you headaches having to explain why you receive cash so often in the mail. They won't go after Grandma but they sure will go after you,at least thats how I presume it works. Always thought sending cash in the mail was something that put you on a radar. They might say you are a middle man for ISIS!
If you do go through with this,I wish you all the best and hope nothing bad comes of it. :)

Who do I make the cheque out to?

Yea even if its not illegal, being on these guys radar alone is dangerous enough. Perhaps too risky.

...and for anyone sending cash, get ready to hit negative feedback / trust when the "I didn't receive your cash in the mail, the mailman must have stolen it." Ruse is used.

...and for Anon136 - messing with your head time - every note you receive in the mail will be marked by the CIA / FBI / KGB / CI5 / MI6 / CONTROL / KAOS / RU12 and the little old lady with the flower shop down the road.

Enjoy.  ;D

It would have been tenable I think pre 911 I think :( But then everyone had to go insane over a small fraction of as many people dying as in car crashes in a single year.

Hey I just realized something. I'm happy to accept gold or silver instead. If you wanted to buy bitcoins without interfacing with the banking system you can just go down to your local coin shop, pick up a 1/10th ounce gold coin, throw it in an envelope and send away. Its an extra step but maybe not too much inconvenience. Almost everyone has a coin shop near them.

As long as no cash is involved im 99% sure the government wouldn't go bananas. They may come knock on my door and tell me to stop, but they wouldnt come to my house with a paramilitary detail and drag me off to one of their dungeons.

Please continue discussion here: https://bitcointalk.org/index.php?topic=1179847