BUMP.
Still looking to buy.!

Still looking for about 46 BTC's.!
PM'ed Pinwheel. Thanks.!

Hello..

Am in need of 46 BTC's at the moment. I can do Fund Transfer in USA or INDIA.
Let me know if anyone is willing to sell them

PM with your best price.

Thanks,
AD

Edit : I have done the transaction and no longer looking at the moment.!

Hello All,

This is my first ASIC miner. I did bid and mine is the 17th one.
So now what are the next steps.

Whom do i send the Shipping Info and the payment to.?
Any advise would be appreciated.

Benson,

I just sent you a PM.
Will buy everything.. Let me know if possible to arrange for a few more.!

I have bid for ASIC miner.. I think i won one..
Also, do you have PINWHEEL's number or contact info. I need some guidance to set it up..!!

1 for me.!

Thanks you very much choosing me..!!
Will do my best to keep it as active as possible.

Suggestions / Advice / Ideas are welcome..!!

Thanks for letting me know. So its just not me.
However, cant u still trade with okpay in mtgox.?

Hello All,

Since last couple of days, am not finding the OKPAY payment option to deposit USD in btc-e.
Is anyone else having the same problem.?

I asked the same question on chat in btc-e and someone mentioned that they still have it.

So just checking if this is a isolated problem or indeed they removed that payment method.?

I completely agree with you subvolatil. We need a free market system in India that is independent of any exchange. However, i wanted you to note that your entire basis of the pricing is flawed. The concept that you are talking would work very well where buying of virtual currency is as easy as selling it like in USA, Canada and Europe. If i go to someone here and ask for a markup of 10%, then they will kick me in the face. Because people here can buy 1 btc for mtgox, campbx or any other exchange price and the transaction charges as less as 50 cents per transaction.
However, the case in India is completely different unless the traders in India are self sufficient by mining the requirements themselves within India. In that case, yes the concept that you are proposing would definitely work.

Moreover, when i say 10% markup, there are inherent costs involved in carrying out the transaction and 10% is not completely my profit.
Just to give you an idea, the cheapest and reliable funding method usually used by most USA residents Dwolla which charges $ 0.25 to fund mtgox (through my bank account) cannot be used to fund the bitcoins which i intend to sell in India because, at the end of the year, UNCLE SAM (US Federal Tax dept) comes back to me and says "Sir, you have transferred 10X amount of USD to MTGOX account, however you have received only 5X amount of USD in return. What happened to the rest of 5X amount.? ". So i should have a convincing explanation with paper trial. I cannot even claim that i lost them during trading because, MTGOX abides by the US, Canada and European AML laws. So i should choose cash deposit method which itself costs me about 4 - 5%.

Secondly, when i receive the funds through Bank transfer in India, i should get it back here to keep the money rolling for my business. Every bank here charges about 3 - 4 USD for using their ATM to withdraw using a International Indian Debit card. This fee is apart from the fee of Rs 125 INR or Rs 150.00 INR that will be charged by my bank in India.

Its not over yet. Indian Banks give you a very shitty exchange rate when you use their debit card to withdraw funds abroad. Usually Rs 0.50 less than any foreign exchange and sometimes even upto Rs 1.00 less per USD. That is a risk am taking.

I agree, there might be some other ways to route money from India to USA, but since the money is coming from India, it is very risky and it might end up being treated as t e r r 0 r 1 s t funding. Trust me, i work in the field of cyber intelligence and pretty much know what all the f e d s track.

After all those fees, am left with 2 -3 % per bitcoin.  I think that is a fair enough margin in any business for all the risk and pains that am taking to keep me motivated to come back the next day and keep me going.

Am not justifying anyone and i don't need to infact, am just letting you know that your perceived notion of 10% profit is wrong. And moreover, with the recent happenings and yesterday's news announcement, i don't think many people from USA / Canada (and Europe shortly) will consider trading of bitcoins as priority anymore to make money.
Am sure that you are aware that many retail websites in USA and Canada have started accepting bitcoins as payment. Yesterday's news was huge. A gift card company called GYFT started accepting bitcoin through bitpay (am sure bitpay uses mtgox exchange rate). They sell gift cards of almost every company in USA including Amazon, CVS pharmacy, Target, Walmart, Hollister, American Eagle, restaurants, flight and travel websites. That is turning my bitcoins to real cash legitemitely without the hassles of trading. Those shops are pretty much everywhere i shop. And the fee is just 0.89%. Infact i will end up paying more if i buy stuff from same places using my credit card. Hell ya, i can live my life with only bitcoins. I can buy everything right from my toilet paper to rice and grocery using bitcoins.
Most of my friends here feel the same and one of my friends even ordered a Radeon 7970 from amazon using that gift card.

Just my 2 cents..!! :-)

I have 4 BTC still available.
Price : MTGOX (last price) + 10%

Sent you a Private Message. Check it out.

I have 4 BTC already in escrow with Mod. However my rates are Rs 27,019.00 INR (for all 4)

Calculated as below
((113.38 * 4 btc ) + 10%) * Rs 54.16 INR (taken from xe.com) = Rs 27,019.00 INR

Let me know if you are interested.

Thanks,

Yes. I have been selling online since 2003. I have seen number of chargebacks.. nasty ones too. If this gets executed, it will be more of a B2B with stringent verification methods. All orders will go through Fraud Verification system something similar to maxmind or on the same lines. And moreover, bitcoin will be sent to the email associated with mb or pz upon email verification, so the scammer will not receive the btc.

Coming to the scaling issue, as i said am not too concerned. I don't want to be the only provider of BTC to Indian traders. I just want to make it easier for genuine and verified buyers to buy in bulk and probably sell it to their local customers in India. I already trade BTC / LTC on a daily basis locally and make enough out of it.

At the moment, am looking at ways to overcome the tax issue. If i open a MB / PZ / PP account as a U S resident, i will have to pay taxes on the entire transaction amount. So let me see if i can work it out. If it does, then a pilot invite only program will be launched shortly.

No Hold off for now. He still has sometime before the deadline... I shall let you know if he doesn't get back to me today.

As mod said, I have some in escrow. However, that buyer seems like he is not interested. He is not responding to my messages. He has 24 hours to complete the transaction and if he doesnot, then i can forward it the next interested buyer.

That being said, if you guys tell me your requirement, i can arrange in a day or two.
I live US and take NEFT / INR Bank deposit within India.

I can easily arrange close to 1000 or 2000 USD worth BTC/LTC every week.

PM me and we can take it from there.
All transactions will be escrow through MOD / localbitcoins.

Hello Guys,

I have $ 500 USD worth BTC (roughly about 5 BTC) currently available in my account at the exchange that i'm not actively using in my day-to-day trading.
Do let me know if anyone wants to buy.

MTGOX (last price) + 10%

Payment Method : Accept Cash Deposit / NEFT to my Indian Bank account.

this is exactly what i had discussed with mod. It will be only for the verified people of bitcointalk forum members. It will be more of a premium club extended to only to forum members to begin with. Probably with low number of transactions.
If you see the statistics, when and how the chargeback occurs. It is when a merchant cannot prove the delivery of the service or product (which is in case of btc).

But how about you offer a product or a service along with btc so when there is a chargeback, you can show the product / service delivery to the payment processor at which point the customer looses the chargeback petition.

One of the solutions is to use OpenVPN with server hosted outside of India.
It requires both client and server to authenticate using certificates. To some extent it can be mitigated.

Moreover, am little skeptical of this happening. I strongly feel that this is just a fake news to scare people that they are keeping track of their usage.
Because, there are a lot of things to consider and comply to.

For instance, there is PCI compliance that needs to be taken care as users are using credit cards over the internet.
The companies based out of India like google and microsoft should have a SSL certificate termination and again the traffic needs to be encrypted.

It took Indian Govt several years to convince Blackberry to have a encryption termination server installed in India and give them access to messages.

Am not saying it cannot be done, but that needs a lot of investment and time. There are a lot of International Privacy laws to be considered and adhered to.

I have been brainstorming with assistance and help from Mod Benson on building a platform wherein users can fund their mtgox account or buy btc / ltc using their credit card through e-wallet services something similar to payza or MB.

Buying BTC / Funding Mtgox
Some of the things to remember here is that this will be similar to fund transfer and the transaction will not be in realtime. It will take anywhere from 2 - 4 working days for the funds / btc to reflect in your mtgox account. The delay in funding is due to the intensive fraud screening that will be incorporated to protect the merchant that is myself from chargebacks.

Secondly, you will be required to add and confirm you credit card / debit card to one of the e-wallet services like MB or payza.

Selling of BTC.
This will be through the payment gateway bitpay. You will receive the mtgox weighted average USD rate sent to your Indian account within 24 - 48 hours through xoom or moneygram money transfer. The exchange rate offered will be the prevailing rate on that particular day.
By using this method, we can totally eliminate NEFT / domestic fund transfer within India.

Let us know your thoughts on this idea. If you have any suggestions / feedback, then let me know.