[2015-07-02] CD: Coinfloor Launches Broker-Based UK Bitcoin Marketplace

[Grand_Voyageur]

Coinfloor Launches Broker-Based UK Bitcoin Marketplace

London-based bitcoin exchange Coinfloor has launched Coinfloor Market, a broker-based peer-to-peer marketplace, which will enable consumers to buy bitcoin from professional brokers.

Speaking to CoinDesk, Coinfloor CEO Mark Lamb said the new marketplace is designed to provide a more consumer-friendly and personal bitcoin buying experience.

Bitcoin brokers, he noted, have to undergo a due diligence verification process, which will be refined over time.

Full story: http://www.coindesk.com/coinfloor-launches-broker-based-uk-bitcoin-marketplace/

[tiggytomb]

I saw this earlier today, this is good news give easier access to people that want to buy bitcoin by a trusted source, it can only be a good thing right?

[p3yot33at3r]

Wrong. Brokers are middlemen. The whole idea of Bitcoin is to get rid of these sharks.

I'll never understand why people use exchanges at all when localbitcoins (for example) will give you a more secure & better rate than all of them at a fraction of the cost & with no money grabbing middlemen involved. I've lost count of how many dodgy exchanges have been either hacked, stolen customers BTC or simply disappeared - they are a leftover disease of the corrupt banking industry & go against everything that Bitcoin is/was/supposed to be trying to put right.

Trust in Bitcoin only. Nothing else.

[LiteCoinGuy]

Wrong. Brokers are middlemen. The whole idea of Bitcoin is to get rid of these sharks.

I'll never understand why people use exchanges at all when localbitcoins (for example) will give you a more secure & better rate than all of them at a fraction of the cost & with no money grabbing middlemen involved. I've lost count of how many dodgy exchanges have been either hacked, stolen customers BTC or simply disappeared - they are a leftover disease of the corrupt banking industry & go against everything that Bitcoin is/was/supposed to be trying to put right.

Trust in Bitcoin only. Nothing else.

people use exchanges because they dont want to meet with a stranger + dealing with big amounts of cash.
just dont use an exchange as a bank and you are fine.

[p3yot33at3r]

Meet with strangers? You can do it all online......with any amount you choose, anytime you choose, with whoever you choose. You are in control, not some money grabbing broker.

[LiteCoinGuy]

"LocalBitcoins is a Bitcoin startup company based in Helsinki, Finland. Its service facilitates over-the-counter trading of local currency for bitcoins.[2] Users post advertisements on the website, where they state exchange rates and payment methods for buying or selling bitcoins. Other users reply to these advertisements and agree to meet the person to buy bitcoins with cash[3] or pay with online banking."


okay you can sent a payment via bank account but that is alot more risky than using coinbase, kraken oder bitstamp.

[tiggytomb]

Wrong. Brokers are middlemen. The whole idea of Bitcoin is to get rid of these sharks.

I'll never understand why people use exchanges at all when localbitcoins (for example) will give you a more secure & better rate than all of them at a fraction of the cost & with no money grabbing middlemen involved. I've lost count of how many dodgy exchanges have been either hacked, stolen customers BTC or simply disappeared - they are a leftover disease of the corrupt banking industry & go against everything that Bitcoin is/was/supposed to be trying to put right.

Trust in Bitcoin only. Nothing else.

I understand what you are saying, but for the meantime until some point in the future when Bitcoin can truly stand on it's own two feet, we need the industry at least in the initial stages when purchasing Bitcoin as these purchases will be in Fiat.  Until Bitcoin becomes the currency for everyone we will unfortunately need the banks.

As people become introduced to Bitcoin their experience should be one that inspires them to delve deeper into Bitcoin, if their first experience with minimal knowledge is searching online and being fooled by someone and they get scammed that's them done, "I tried Bitcoin but got scammed" and so on.

I agree with you Bitcoin is the way, but it will take time, probably a long time before we can fully wave goodbye to the bankers.

[p3yot33at3r]

okay you can sent a payment via bank account but that is alot more risky than using coinbase, kraken oder bitstamp.

Not just via bank transfer either - pingit, okcash, paypal, phone, sepa, cash in hand, netteller, paysafe card, credit card, mail, skrill, wetern union, moneygram.....oh, & BTC of course.......

Exchanges.......

[kjlimo]

I use exchanges like CampBX and Coinbase because their fees are cheap/reasonable and they are super convenient with apps for my phone and linked to my bank account.

Perhaps I could establish a localbitcoin bookee of sorts, but that would take time and trust and depend on one person...

[ziggy.s]

Wrong. Brokers are middlemen. The whole idea of Bitcoin is to get rid of these sharks.

I'll never understand why people use exchanges at all when localbitcoins (for example) will give you a more secure & better rate than all of them at a fraction of the cost & with no money grabbing middlemen involved.

 
And who do you think sells on LBC? only miners? LBC sellers are the middlemen sourcing their coins through exchanges. Coinfloor Brokers are selling on LBC as well, the difference is that they don't need to move coins from an exchange to a P2P platform as its 2in1, saving time and money and the Coinfloor selection guarantees the buyer will deal with a pro, not some random stranger. 
 
And we do need the middlemen to reach more people.