That being said, does anyone know of a *reputable* bullion dealer that sells for bitcoins?
Look at Amagi Metals. They are also running slow from greatly increased volume, but they are very upfront about it and communicative. |
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Bitcoin went up quite a bit after I placed my order with Coinabul, I wonder if they will send me some extra silver.
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I got one of my orders (placed on the 10th) in the mail yesterday and it's great. Thanks!
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Ugh. I must have done something to offend them when I ordered then. I have three paid orders with amagimetals the first of which was placed on 4/3, nothing but crickets.
I have one order placed on 4/8 and one on 4/10, and for some reason the 4/10 is indicated as shipped but the 4/8 is not. But the tracking number for the order indicated "shipped" is not found. I'm glad they're communicative on this thread, though. |
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How long does it normally take from order placement to shipping? I see "24 business hours" - does that mean 3 business days of 8 hours each? Or just 24 hours if order is placed M-F?
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The decimal place will NEVER (not today, not next year, not 20,000 years from now) ever be moved. To do so would require a 100% consensus of all users active and inactive. Not just all miners but all exchanges, all merchants, all speculators, all bitcoin holders. Litterally everyone on the planet in unison agreeding to the change. Baring a complete consensus the network would fork and both forks would be valid and incompatible, both called Bitcoin. The result would be complete and utter chaos and massive destruction of value. It isn't going to happen.
For all intents and purposes the money supply of BTC is locked at 21M BTC. The good thing is it is highly divisible right now having 2.1 quadrillion discrete units (more than US money supply) but 1 BTC will always be ~1/21,000,000 of available money supply.
In that case, I propose that 10^-6 BTC = 1 Turing. 1,000,000 Turings = 1 BTC. The Turing can be broken into two decimal points. The unit "kiloturing" or KT should be the most commonly referred-to unit unless the price increases by a few more orders of magnitude, in which case the most commonly referred to unit will be the Turing itself. 10 Kiloturings is currently worth $2. The Turing and the Kiloturing should be the only units needed, to preserve simplicity. "One million dollars" is equal to "five million KT." The Kiloturing is within an order of magnitude of the dollar. |
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VISA International accepts a maximum of 2% of fraudulent transactions from a merchant. I believe that at least 10% of the purchases would be chargebacks. Its not like when you buy gold. Gold has to be delivered to a physical address. BTC can not be traced.
It could easily be traced if the purchaser lists his Bitcon address and the merchant sends the Bitcoin to that address. But that would involve Visa understanding and trusting the blockchain data, which is unlikely. |
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https://bitcointalk.org/index.php?topic=130831.120It sounds like they've done a lot of business with forum members, and there haven't been many complaints. They seem very responsive to customer comments on this thread. I will be placing an order tonight.
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I would be highly interested in hearing some people's experiences with Amagi Metals
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Bitcoin transactions can never be reversed. Credit card transactions can be easily reversed if the buyer says he was deceived, or his card was stolen, or he's not satisfied, etc.
This leads to many cases where fraudsters will try to buy Bitcoin with credit cards, take their Bitcoin, and then tell the credit card company they want their money back. And, in many cases, they get it back, and the exchange loses all their money.
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I think we should move the Bitcoin decimal point six places to the right, and primarily use the unit kBTC. (new kilobitcoins)
1 old BTC = 1,000,000 new BTC = 1,000 kBTC (new) = $190
10 kBTC = $1.90
The reason for this is that it is relatively futureproof, and that people are more comfortable handling very large numbers than very small numbers. It also leaves two decimal points of Bitcoin, just as most national currencies have two decimal points.
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But lets see what the free market offers in the next months.
There are already bullion dealers around who only sell from their own stock. Other bullion dealers selling for Bitcoin? Which ones? I, for example. Only serve the EU, though. Have been full time precious metals dealer since 2006. See the links below for details. Ah, neat. Unfortunately I am not in the EU. |
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But lets see what the free market offers in the next months.
There are already bullion dealers around who only sell from their own stock. Other bullion dealers selling for Bitcoin? Which ones? |
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That makes it hard for a bullion operation then who has to keep getting new stock. No major supplier of bullion wants btc.
So one has to sell cheaper, take a hit converting to usd plus volatility, restock hopefully in quantity to save money, and repeat.
A lot of work to make a few dollars selling an oz of gold via mail.
An online Bitcoin bullion store, which does not need to rent a storefront or pay for utilities, and who does not need to worry about credit or debit card fees, or check fraud, should be expected to have slightly cheaper rates than a traditional B&M store that has to pay for all of these. Bitcoin-based stores can sell all Bitcoin payments for USD immediately if they want to, so they run no risk of the price of Bitcoin dropping. There are USD-based online coin dealers that hold stock and sell from their stock. It shouldn't be impossible for a Bitcoin-based coin dealer to hold stock and sell from their stock. |
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Isnt it obvious? He is selling what he does not have in some cases. He goes out and makes an order and once in ships it.
A middleman making a cut from you. Just order from a reputable site who actually has possession of what they are selling and if not it is marked out of stock.
Are there other such 'gold and silver for bitcoin' sites? i am unsure. i would have to google to find out. but are you so desperate to pay with btc that you are willing to risk some screw up? just how much above spot (usd) per oz of silver and oz of gold are you willing to pay with a reasonable shipping fee? I'm looking for a discount versus local coin shops because I'm paying in Bitcoin. |
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can someone tell me their experience with trade online at localbitcoins?
Is it safe with the escrow service? How does the buyer prove he paid me? or vice versa?
I'm skeptical to send any btc. Localbitcoins gives the buyer a confirmation code to verify the seller has released the bitcoins, they also give the a confirmation code the seller can text to them when the buyer has paid. It works like this: 1. Buyer presents the cash. 2. Seller texts his confirmation code to Localbitcoins. 3. Localbitcoins replies with the buyer's confirmation code. 4. Seller shows confirmation code to the buyer. 5. Now the buyer knows his bitcoins have been released. Why would a buyer trust your confirmation code rather than just look at his wallet? There are plenty of places with public Wifi that people can meet to trade Bitcoin. |
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Isnt it obvious? He is selling what he does not have in some cases. He goes out and makes an order and once in ships it.
A middleman making a cut from you. Just order from a reputable site who actually has possession of what they are selling and if not it is marked out of stock.
Are there other such 'gold and silver for bitcoin' sites? |
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Have you guys asked to cancel your orders and get refunds?
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After numerous calls and finally a demand for a refund, I just got a tracking number for an order I placed 8 days ago. I will update when it arrives.
I am on 15 days since my order was placed and I still have a "processing" status. I have sent 4 emails and received one response saying the order would "most likely" be shipped by the end of the week. What is the phone number you called? I haven't tried that yet. In your first "Thank you for your order" email you got after placing the order, there should be a 213 area code phone number, and a 312 area code phone number. Also, try demanding your Bitcoins back if the order takes too long. After numerous calls and finally a demand for a refund, I just got a tracking number for an order I placed 8 days ago. I will update when it arrives.
Order received, and all is good. Coinabul, while maybe they are a bit slow to respond, is decidedly not a scam. Clearly they are. You just happened go be on the lucky side. Perhaps I define "scam" more narrowly than others here, but to me, for something to be a scam, it has to be intentional. If you try to enter an agreement with someone and events occur which prevents one party from upholding their end of the bargian, or if someone make a mistake and accepts more orders than they can process quickly, or even if they just forget, it's not a scam, it's just bad business. Of course "bad business" might deserve a tag on here as well, as it is just as important to warn others about. |
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After numerous calls and finally a demand for a refund, I just got a tracking number for an order I placed 8 days ago. I will update when it arrives.
Order received, and all is good. Coinabul, while maybe they are a bit slow to respond, is decidedly not a scam. |
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