Bitcoin Forum

UPDATE:  All coins are SOLD.   THANKS!

Buy now!

I'll have 1500BTC on Saturday, January 5th.

I'll fill any amount of order at gox rates as long as your funds are to me prior to Saturday the 5th.

Cash bank deposits to Chase, Citibank or ING P2P payments, moneypak, paypal ONLY TO WELL RATED MEMBERS, western union, moneygram, GOXUSD, Dwolla, Serve, etc, etc...

see my OTC feedback here:

http://bitcoin-otc.com/viewratingdetail.php?nick=EPiSKiNG-&sign=ANY&type=RECV


Thanks!  PM me or email my nick at gmail.com

-EP

At what point is the rate determined?  Is it the market rate at Mt. Gox when I notify you that I want to buy and am ready to send funds, or the market rate when you receive the funds (or possibly even worse, the currently unknowable market rate on Jan 5, 2013)?

Stephen rises great questions that must be answered..

I was planning on making that decision on a case by case basis, but had thought that the rate would be set upon your deposit.  IE, we set the rate, you make the deposit, then get the coins on Saturday.  However, if you would like to wait until Friday to make the deposit and set the rate on that date, I'm open to that option as well.

Thanks for the good question, I should have addressed that in my OP.

-EP

Bump.

-EP

ALL COINS PENDING.

If you're still interested, PM me and I'll see what I can do.

All those I have contacted are good to go.

-EP

Here is an idea:

1. Decide on a rate relative to MtGox (e.g. MtGoxLast [+/-] x%) and declare that the rate at the moment someone "accepts" the offer will be the rate paid.
2. Set up a bitcoin address dedicated to this offer, and require that your buyer send a 10% deposit to the address, to lock in the timing and the rate.  Accept only the first acceptable payment, refund all the rest if there's more than one.
3. If you are afraid that you might get burned at an unfavorable rate because someone buys right at the tip of a downswing, then simply state that you reserve the right to cancel without prejudice any acceptance that was made while the MtGox high was > 105% of the low, over the 24 hours prior to the acceptance.
4. PGP sign the whole thing and publish it.
5. Wait for incoming bitcoins, and then make sure the person who says they sent them can prove the sending address was theirs.
6. When the buyer sends his fiat money, send his bitcoins and return his deposit.

This procedure prevents all the pussyfooting and locks in a specific moment and rate to be used.  I have used it with astounding success for the limited familiarity our community has with it.  If more people did this, we'd have decentralized exchange.

Doing it this way, you aren't stuck with possibly having to accept the bottom end of whatever variation there is in the rate during the time it takes you to negotiate and set up a transaction, versus seeming to offer an uncompetitive rate.  It's effectively a variable-price-pegged-to-Gox Buy-It-Now offer... fixed in terms but variable based on when accepted.

If you will set up an offer like this, I will strongly consider accepting it.  The benefit for me is that at whatever point I pull the trigger, I should have a good idea of exactly what deal I am walking into, the moment I act on it.  It's confidence in the marketplace.

I like this.

However, I'm all sold out.

Thanks!!  I might have more soon.
-EP