Okay, sorry for the confusion. Technically it's based on our own supply and demand as occassionally (especially on late Saturday, all day Sunday) we adjust how it calculates off the Mt Gox 24hr high if we are oversupplied on bitcoins. This has meant sometimes the sell price and buy price are both lower. What I was indicating in the previous answer here is that we didn't RAISE our buy rate. We might have done so once or twice when bitcoins were in short supply, but that would have been 8 months or more ago, not last month.

At any rate, you are correct, our prices can diviate as to how far they are from Mt Gox due to our own supply and demand. You might sometimes get a really good deal on one side or the other if we are trying to balance our position. Generally, however, it is pretty staticly based on Mt Gox prices, at least Monday-early Saturday.

I think I see what you are saying. Our rate is not based on Mt Gox current, it is based on Mt Gox 24 hr high, to protect us from losing money on days with big swings, which I assume is what the days you saw a higher rate were.

As to Bpay, we were advised by legal representation that offering a Bpay service made us a payment processor, which would have required licensing which is not required for simply buying and selling bitcoins. We pulled the service as soon as we were advised of this. We apologise for the inconvenience caused, but it only effectively adds one day to paying your bills, as you can sell your bitcoins to us and then pay your bill from your bank account when the AUD arrives.

As always, very happy to answer any other questions.

Happy spending!
Jeremy

Hi everyone,

I'm sorry I haven't replied here, apparently I somehow turned off the alerts so I had no idea anyone had posted in this thread.

We are not and have never been affiliated with Cryptoxchange in any way, despite our similar company name (Cryptospend) and we never used Cryptoxchange to buy any bitcoins. We get the vast majority of bitcoins that we sell from people selling them to us at http://spendbitcoins.com/convert.

Our prices have not changed whatsoever. They have always been 10% above Mt Gox 24 hr high. This seems to cause some confusion whenever bitcoins rise in value, but it makes no difference whatsoever.

ie-1 bitcoin on Mt Gox = $10, 1 BTC with us = $11, which means $100 worth of bitcoins would be $110.
     1 bitcoin on Mt Gox = $100, 1 BTC with us = $110, which means $100 worth of bitcoins would be $110.

Does that make sense?

I'm sorry for any confusion caused.

Happy spending everyone!
Jeremy

Bendigo added quite awhile ago. ANZ removed. Edited subject to reflect change.

Thanks for that! You just earned 0.01 BTC!

I can now, because the winner has just given me her bitcoin address: 1HrMpG9JZ71gzXHPdyo2dwcExhKRGtBjQg and permission to congratulate her on the forums. Congratulations Bitgirl!

http://blockexplorer.com/address/1HrMpG9JZ71gzXHPdyo2dwcExhKRGtBjQg (just sent so will take a few minutes to show up).

Transaction ID dd9c655786fd1c50f99faa12efeef8c0809eced0ad8a00d550b9cf848d8788bf

Congratulations to entrant number 193. We have notified you by email that you are the winner. If you did not receive an email from us, you unfortunately were not the winner, but thank you so much for helping us know more about what the bitcoin community wants! We will endeavour to fill whatever needs we believe we are best positioned to fill.

Happy spending!
Jeremy

There should be negative choices as some of us make a living with bitcoin.

22 hours remaining until the raffle! Get in now!

Hi there,

I don't know. A majority of reloads were getting returned and the refunds were becoming very labour intensive. Some people's reloads through us have never been returned while others have been. The bank doesn't provide us the reason but there are lots of little rules that trip people up such as maximum $999 on the card at any one time, maximum $5k loaded in a month, and one customer was told that his reloads were being denied because he had multiple cards linked to the same mobile # at the same time, which I haven't even seen as a rule in their literature.

At any rate it has just become too much of a hassle to continue promoting to new customers, but anyone who was already using it successfully can feel free to continue reloading, just use the AUD bank balance form on our website with your LoadNGo details. Please keep in mind that if it is returned to us, as we will have already converted your bitcoins to AUD, we'll have to convert them back to bitcoins at THE CURRENT RATE when the refund happens and pass on our bank's $2.50 return fee.

We do apologise for the inconvenience.

Happy spending,
Jeremy

;-)

We are looking to expand our services internationally and want to know how we can best serve the bitcoin community. All of your answers will be kept 100% confidential and will only be used for improving our offerings moving forward.

https://www.surveymonkey.com/s/HXRXL2C

Answer this survey by 12am UTC 24 September, 2012, and you'll be entered in our free raffle for 20 BTC!

I may well be able to. Message me on the site please.

It's not. This is an old post.

Hi there,

I'm sorry, we do not.

Happy spending,
Jeremy

Now buying...

We are now buying bitcoins or MtGoxUSD in exchange for an international wire transfer on a case-by-case basis. To make us an offer, please click on "Chat now" or "Leave a message" (depending on if we are available) on the bottom right of http://spendbitcoins.com.

When we do a wire transfer, we do so by next business day and most people we have purchased from have reported the money in their account within 2 business days.

Please see our feedback at Bitcoin Feedback and exchange with confidence!

Happy spending!
Jeremy

Back for a limited time...

Amazon & Paypal. Cashout while you can: http://spendbitcoins.com/convert

EDIT: Over. Sorry if you missed it. Watch this space for next time.

IPs, billing addresses, customer service nightmares, and little profit to compensate. It just didn't fit in with the direction we're headed unfortunately. Again, I hope someone else picks up the ball though because the whole reason I started Spend Bitcoins was for that service to exist, and it saddened me to let it go.