[Unavailable] Buy/Sell BTC for GBP Bank transfer. MtGox last 2% fee

[gazwel]

Got 4BTC today, superfast transaction and I will be using again 

[Pteppic]

Good morning

Plenty of BTC in stock;

Current Prices as at 10:40am :-

Buy from me at    £6.727 per BTC
Sell to me at       £6.466 per BTC

N.B. Prices on this thread are indicative only. Please PM me for a live quote.

[Pteppic]

Good morning

I have now traded over 1100BTC in under two weeks.

Still plenty of stock available;

Current Prices as at 9:40am :-

Buy from me at    £6.873 per BTC
Sell to me at       £6.606 per BTC

N.B. Prices on this thread are indicative only.
Please PM me for a live quote.

[Faraday]

Purchased 100 bitcoins from this guy today. Great service and sent the bitcoins as soon as payment cleared. Thanks!

[Pteppic]

Over 1400BTC traded so far

Good morning

Current Prices as at 10:30am :-

Buy from me at    £6.996 per BTC
Sell to me at       £6.724 per BTC

Transparent pricing. Here is how it works:
MtGox USD last;        10.9290
GBP/USD spot rate;     1.5935
MtGox last in GBP;       6.8585

6.8585 + 2% = 6.996
6.8585 - 2% = 6.724

N.B. Prices on this thread are indicative only. Please PM me for a live quote.

[Faraday]

Purchased another 50 btc today. Smooth trade as always.

[bombasticbitcoin]

Bought 15 coins from Pteppic this morning.  Thanks for a quick and easy trade

[Pteppic]

Just repeating my edit to the OP;

I am afraid that I am currently unable to meet orders due to banking issues

To be fair, it doesn't seem to be a 'because bitcoin' issue. My bank said they were investigating a possible fraudulent transaction, which could be linked to the fact my almost unused personal bank account has had £15k in transactions through it in a few weeks. It should become available again soon, but I am also looking into the possibility of forming a company and getting a business bank account.

[anodyne]

Sorry to hear about the problems.

I sold about 60 coins last week, and I can recommend this guy when he's back up. Good service all around.

[Pteppic]

Update

I am afraid it looks like I won't be able to offer this service any more. It appears that I received money from an individual who is flagged by the banks as being 'dodgy'. On receiving the funds, the bank's systems picked it up, reversed the transactions and froze my account (so the dodgy guy gets to keep the money he sent me and the BTC I sent before the transaction was reversed).

From what I can work out, if you trade BTC then sooner or later you will end up receiving money from a flagged account. I guess this is what happened to MtGox and Intersango as well. Once you receive money from a flagged account, the bank is going to shut you down and there is not a lot you can do.

If anyone can think of a business model that gets around this I think a lot of people would like to know about it.

[oblongmeteor]

Did they reverse all the funds you'd received via bank transfer/faster payments? Isn't bank transfer supposed to be irreversible?

[oblongmeteor]

Interesting read. Basically my understanding of what you're saying is that if you want to pursue a BTC business - you'll need FSA/regulator approval (and all that it entails) - everything else is just running on borrowed time...

In reality, this stance by the FSA and the banks does not unreasonable. Any other business in the UK that operates in the financial sector has to comply with a significant level of regulation. BTC might not (yet) be regarded as a currency, but it shares too many characteristics with other existing financial instruments to be regarded as exempt. As someone older and wiser once stated on these forums in regards to regulation through the eyes of the regulator; "if it looks like a duck and it quacks like a duck, its a duck".

With regard to account closure; it is unlikely to be a banking conspiracy - institutions of that size don't tend to react quickly to change - see the RIAA and MPAA for current real-world examples. It's interesting to note Bitcoin was named recently in a document circulated by the European Central Bank, so you can be certain it is at least on commercial banking institutions radars - probably in the same way DiVX and MP3's were in the early days for the RIAA and MPAA.

I'd also add that it seems likely BitInstant has only lasted as long as it has because of its coveted FinCen number. Regulation undoubtedly confers benefits as upstream service providers (Banks, Other exchange services (E.g. Dwolla)) are possibly more likely to see any issues arising from fraud to be the endpoint business's responsibility rather than their own... afterall, if you're regulated and you launder money knowingly or otherwise, it's ultimately your responsibility (See HSBC's recent troubles for a real world example).






 

[BCB]

HSBC and it's subsidiaries  have been  laundering billions for Russian Cartels, South American Drug Lords and Middle Eastern state with ties to terrorism for decades.

HSBC will  end up paying a big fines (which they will then pass off on customers and share holders)and a few people may lose jobs,  but it's highly unlikely anyone "in charge" will go to jail.

http://planet.infowars.com/economics/hsbc-chief-quits-in-front-of-us-senate-committee

http://www.reuters.com/article/2012/11/05/us-hsbc-earnings-idUSBRE8A400920121105


The corruption that continues to exist in the global banking system dwarfs the combined  instances of all the  illicit activities currently taking place with bitcoin.

 

[Richy_T]

If the transaction was reversed, wouldn't that be a tip-off though? And wouldn't that let you know who it was too (or at least reduce the field somewhat).

Shame as I was looking forward to doing more. If you feel like going forward with people you've had successful business with before, drop me a PM.