Bitcoin Forum

Hey All!

I'm new around here and I wanted to announce my new business with a buddy of mine. We're not new to bitcoins but we are new to the merchant side of things. We set up a site to accept only bitcoins for numerous giftcards that can be sent to the purchaser or as a gift to a friend or family member for the holidays. It's not listed on the site yet, as it's constantly being updated, but the price you see is the price you pay! That includes taxes and shipping! I'm looking for some feedback regarding the site and anything that should be added/changed/removed or whatnot.

I'm constantly on the forums so any PMs or posts I should see within a couple hours unless I'm asleep  ;). I'd love to hear anyone's thoughts on what we have set up so far.

The site is www.giftsforcoins.com/store and everything should work perfectly as we've tested a couple products ourselves. It's only two of us right now but we should be able to send any product sold within 24 of purchase. That means either same or next business day, whatever you buy will be in the mail! (EDIT: I'm currently looking for gift cards that are ecodes so shipping doesn't have to play a part at all although not all cards are that easy.

But I'm mostly here for feedback so send everything you've got my way! Thanks for looking and I appreciate everything. I'm really passionate about btc and I hope it continues to thrive!

EDIT: I just updated prices again... and by updated I mean lowered!!! Also just added Jamba Juice gift cards!

Your btc price is higher than face value...good luck

I try to update the prices daily but because the coins have been so volatile I had to keep some cushion room for fluctuation. What would you suggest?

Also the pricing includes shipping and taxes.

Why don't you have Amazon ..  or cards that are in high demand?

I am in talks with amazon now. I'll let you know what I come up with :). Let me know companies that you'd buy gift cards for and I'll see if I can get them.

Talking with Amazon?

All you need to do is buy your own gift codes, lol.

Aww all the gruff mean people.

Gl with your business new guy.

Jeremy at spendbitcoins.com kept getting suspended by Amazon for buying gift codes for us. Amazon needs to uber-whitelist you if you're doing that on a regular basis.

Use the price based on the MtGox, I believe that there's an API for this.

http://btcticker.appspot.com

The point of being in business is to make some kind of profit at the end of day. If I'm buying gift cards/codes at $25 and then selling them for $25 worth of btc I'm making no profit. Getting a high demand gift card would be ideal but I'm still in talks with some bigger, more in-demand gift card companies. The ones I currently have listed I get for a small discount so there is a small profit margin which helps me with server cost, power and living haha.

If you guys want to see some legit gift cards give me businesses you'd actually purchase gift cards for and I'll work on it. Even if Jeremy from that other site kept getting suspended, if we both do the same thing then when he's down I can sell and when I'm down he can sell. Helps the economy and both of us with sales. That's just imo and I have to keep pestering Amazon because they aren't as easy to start relations with as I originally thought.

Thanks very much!

I definitely use the pricing on MtGox but I give myself a 10 cent cushion at least depending on the day and how much they bounce. I'm worried about accepting them at their trading value at that moment because if they drop then I lose pocket money.

The site is registered with privacy protection, the About and Contact are generic with no identifying information, and I don't see any reference to #bitcoin-otc trust history or similar.

Do you have any plans to remedy this problem with anonymously run e-commerce sites?

Working with an escrow provider would be one approach.

I can definitely add some personal information to the "About Us" section. It's just my buddy and me running the site and we're new to this haha. What type of information should I put in the "About Us" section? Anything that helps us be more transparent I'd be willing to do.

What really needs to happen is for someone to hook up with one of these gift card producers to get them to SELL BITCOINS through their existing networks.  Specifically they would be buying USD-denominated credit that could be immediately converted to bitcoins, just like if someone bought a MtGox USD code at retail.

Very simple: someone would activate a "Bitcoins" gift card the same way as a prepaid phone card, and then could log on and use the redemption code to lock in their exchange rate and send their new bitcoins to the address of their choice.

I'm not sure I quite follow your thought. Could you explain this a little more?

I understood like bitcoins on a prepaid card. Is that what you're talking about?