Overview:I'm selling USD left on my account on
http://btc-e.com exchange using BTC-E codes with escrow. Concerning latest events, I will call it selling "BTC-E Code Liability." You can potentially gain 170-200% of your initial investment, hence almost double your money in a matter of a few months or maybe even weeks. For me, this is an opportunity to eliminate the risks for a part of my money left on the BTC-E exchange.
You can get
2x on your money, but
this is not a scam, so there is a risk for you if BTC-E does not get back online. Still, if you get into this deal intelligently we both win so you can have a good profit, and I will get eliminated risks.
Trading steps:1. You choose an escrow agent. You may choose from the list of most reputable agents on this forum who already expressed their interest in providing their services for this deal. In case if you want to propose another agent, this must be a
reputable person in our community with previous
escrow experience and
references.
2. You send me a PM with a price quote, your questions and whom you propose as an escrow agent.
3. We decide on the price. I clarify any questions you have. We talk to the escrow agent you submitted.
Let's now assume we agreed that I sell you
10000$ worth of BTC-E codes for
5000$ (Tether), so you receive 2x your initial investment in case if BTC-E goes back online.
4. You send
5000$ (tethers) to the account of the escrow agent.
5. I send
~6000$ (tethers) to the account of the escrow agent as a security measure. I'll do this so you can trust me that I will generate the code. The exact amount will be calculated by formula: ([sold_btce_code_value] - [price_paid_by_buyer]) * 120% + [escrow_commission]
6. Escrow agent locks your 5000$ and mine 6000$ for
5 months.
7.
If during these months btc-e exchange went back online and there was a way for me to generate a BTC-E code, I'll generate it and send it to the escrow agent.8. The escrow agent will use the code on BTC-E and generate a new one. To check the code and its price.
9. The new code will be sent to you, and you will deposit money to your account.
10. Finally, the escrow agent releases all the money minus escrow fee (11k$ - fee) to my tether account
after the BTC-E code is generated or
after 5 months have passed.
If I do not generate a code (in case BTC-E is back online and the code can be generated), or somehow try to fool you the escrow agent will release 11k$ your money to your tether account.
Escrow:- SebastianJu - an experienced legendary escrow. Check out his posts below in this topic.
FAQ:What is the minimum trade you are willing to conduct?I'm ok trading on this deal with multiple people, breaking it on several batches. The smallest trade I'm interested in is for 1000$ but the ideal batch would be 10-50k$.
Why did you choose 5 months period?I feel this is a reasonable amount of time considering the previous similar case and
official response.
In which cases do you receive the money from the escrow?The seller (me) will get 11k$ (seller's 6k$ used as a safety measure + buyer's 5k$) in two cases:
1. BTC-E is not back
2. BTC-E is back, and I generate a 10k$ BTC-E code (and obviously send it to escrow)
In which cases I receive the money from the escrow?1. BTC-E is back, and the seller (me) does not generate 10k$ BTC-E code
Why would I be interested in this deal?If you have an aggressive investment strategy and you want to have an opportunity to double your capital this might be interesting for you.
When should I ignore this deal?1. If you are not ok with high risks.
2. If you cannot accept potentially losing your investment in the case when BTC-E is not back online.
P.S. Trade only the amount of money you are ok to lose.
Changelog:- 31 July - An experienced legendary escrow SebastianJu is reviewing the trading steps and has expressed his interest in providing escrow services. See his posts below on this topic.
- 31 July - Added FAQ section.
- 31 July - Increased security measure from my side and changed the formula.
- 27 July - Changed period to 5 months.
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