I saw a few bitcoin auctions on ebay 1 btc for like 50$

[inbits]

Just had a quick look on my local ebay last night after watching some video about bitcoins in general.
So I found a couple of guys exchanging a paper wallet for 1 bitcoin that they have mined, for like 36$
One auction in particular seems to have had a few sales already.

Right now I can see one listed for 53$ + 5$ postage, paper wallet.
That's still about 175$ profit if I'm working this out right? if I sell it.
1 Bitcoin for deposit to the wallet of your choice.

I must be missing something, because the last time I checked, 1 BTC is currently worth around 235 USD.

So what are they really selling me, will I get 1 BTC worth the current value around 235$

If this is in fact true, couldn't I jump straight into something like paxful.com as a trader.
As this would be a great source for cheap bitcoins... if this is what they are trying to sell on ebay.
Like if you're buying a btc on ebay for35 bucks, there's a 200 profit margin, I must be misreading.

Just makes me curious.

[addy boy]

are you sure that you have saw it was selling for 36usd only because it you did then it must be a scammer ...because nobody in the world is not that much stupid who will ell 1bitcoin only for 36usd when its real price is 230usd. and btw paxful.com does not have cheaper price it is costly

[~Bitcoin~]

Yes don't try to be fooled by the scammer. First think yourself, did you see 1 bitcoin for 40$ if you have 1 bitcoin now? Answer is no, so just be away from that type of scammers.

[gentlemand]

I'll bet you'd be bidding for an empty paper wallet for you to put your own one bitcoin on. Hey, printing is expensive. There's never a shortage of dodginess on there.

[BitcoinBarrel]

It's possible you are buying $40 worth of BTC on a paper wallet.

[inbits]

He's the only listing on there right now, hasn't answered my first contact yet,
.1 Bitcoin for deposit to the wallet of your choice. US $60.00 Approximately EUR 53.21 + $5 postage.
Sent him another msg about the current btc value, prob won't get a reply to that either, glad I'm not thick.
I wish I did have a source/miner willing to part with their coins that cheap, could learn to trade on faxful or something.

Not likely

[gentlemand]

I wish I did have a source/miner willing to part with their coins for that cheap, could learn to trader on faxful or something cool.

The few miners who have admitted a cost price have put it between $100-150. That's for miners with massive economies of scale and tiny electricity bills. This Ebay listing is full of shit by the sounds of it.

[inbits]

What do you mean by "That's for miners with massive economies of scale and tiny electricity bills. "
I doubt I could afford to have mining equipment running but it's very interesting.

[gentlemand]

What do you mean by "That's for miners with massive economies of scale and tiny electricity bills. "
I doubt I could afford to have mining equipment running but it's very interesting.

Miners these days build giant warehouses filled with hundreds to thousands of miners specifically in places with the cheapest electricity costs. No home miner can compete with that.

[inbits]

It's amazing that someone could set up a real network of mining equipment based on a virtual currency.
I was just searching there and found BlockTrail - Mint, buy direct from the miners.

[gentlemand]

don't think of buying it brother. It is a scam and stay away from. You also know that no one can sell bitcoins that much low.

They could in theory if they'd mined them many years ago, but there's no shortage of places where you can get full price for them so it's scamville indeed.

[AGD]

OP. Do you avoid to link to the ebay auction, because you want these cheap Bitcoins for yourself???

[inbits]

If I can get coins direct from miners at 100/150 that's a small profit margin of around $80/100.
So if you decide to become a trader on faxful or other exchange, seems an interesting way to return a profit?

OP. Do you avoid to link to the ebay auction, because you want these cheap Bitcoins for yourself???

No I avoided the link because it looks to good to be true, wanted to hear what other bitcoiners thought.
If I knew it was legit I'd probably have bought several, and have a future source for my trading services.
The seller knows I contacted them twice, ebay's automated email notifications, no one has replied.

[gentlemand]

If I can get coins direct from miners at 100/150 that's a small profit margin of around $80/100.
So if you decide to become a trader on faxful or other exchange, seems an interesting way to return a profit?

There's plenty of places they can get full price or very near. I don't see why they'd sell to anyone at that level.

[Mine24-7]

Most of the 1 BTC is see for sale on ebay are $300 or more. But I do see .1 BTC for sale anywhere from $32 to $45.

Are you sure it wasn't for .1 instead of 1 BTC?

[inbits]

.1 Bitcoin for deposit to the wallet of your choice.

US $60.00
Approximately EUR 53.21

Postage: US $5.00 (approx. EUR 4.43)

9 sold.
Buyers info seems to be private, so i can't look at reviews.

.1 Bitcoin that we have mined deposited to the wallet of your choice.  
You will be receiving a paper wallet in the mail with the amount you purchased on it.  
You can then sweep it into the wallet of your choice.

[UserVVIP]

S/he is probs just selling the paper wallet.

[dothebeats]

If in case this is true, I'll buy all of those from the seller without hesitation! Perhaps OP you just misunderstood the user's listing?

[Pursuer]

.1 Bitcoin for deposit to the wallet of your choice.

US $60.00
Approximately EUR 53.21

Postage: US $5.00 (approx. EUR 4.43)

9 sold.
Buyers info seems to be private, so i can't look at reviews.

.1 Bitcoin that we have mined deposited to the wallet of your choice. 
You will be receiving a paper wallet in the mail with the amount you purchased on it. 
You can then sweep it into the wallet of your choice.

I am confused!
is he selling a paper wallet which contains 0.1BTC (which is worth $23) for $60 ?
is it right or am I reading this wrong?

[coinpr0n]

My guess is it's an empty paper wallet that maybe once held 1BTC. It's also possible to be $40 of BTC on a paper wallet. And least likely (almost impossible) it's someone who mined a bitcoin long ago - nah nevermind.