[ANNOUNCEMENT] BTC Buy (www.btcbuy.info): trade BTC for gift cards

[Grinder]

Bought an Amazon GC last week. Email response from the site came within a few minutes, and the GC came after about 12 hrs.

[1714025754]

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[1714025754]

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[1714025754]

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[PrintCoins]

Bought an Amazon GC last week. Email response from the site came within a few minutes, and the GC came after about 12 hrs.

Anyone buy from here recently. Just want to make sure orders are still being fulfilled.

[pekv2]

As always excellent service.

Very quick and support is above excellent, all-n-all everything is above excellent.

Thanks BTC Buy for a wonderful experience.

[a654bdff]

I searched through the thread and didn't see mention.  Any reason not to offer eBay GC's ? (other than the evil by association of PayPal  )

PS: Have bought multiple Amazon GC's through here, always lightning fast.  Also appreciate the updates as technical/hosting/etc. issues have arisen.  Excellent job.

[coga]

I searched through the thread and didn't see mention.  Any reason not to offer eBay GC's ? (other than the evil by association of PayPal   )

PS: Have bought multiple Amazon GC's through here, always lightning fast.  Also appreciate the updates as technical/hosting/etc. issues have arisen.  Excellent job.

Yes, problem with eBay GC's is that they have to go through PayPal, and it has been known to manage their customer's funds very liberally. I did not have trust so far, that they will not just start withdrawing money at will, base on some of their "process".

Another reason is that I was able, in this or another form, to get some sort of cashback mechanism with most of the cards that are sold. It's not much, but at least it gives me some motivation to keep the business running. It is a lot of work, and sometimes a lot of stress, and definitely a lot of risk, sometimes major money are getting stuck, and you never know if you ever see them back. Anyway, this is not to complain; it's just when there is no way I could get any kickback for a purchase, I have to charge big %% off face value for commission, which drives customer away. One of the reasons why Walmart cards are not sold.

And the last, but not least is legal: bitcoin is already a gray area, and as anyone else I would hate to find myself in a pokey for breaking some "law" that I'm not aware of. Gift cards are not money, so I feel fairly safe that I can not get into too much trouble. But sending someone actual money will bring business into completely different category. I am trying to avoid this. It probably is the major reason, why I am not getting involved in PayPal, Amazon or Google payments.

[bal3wolf]

is your scripts broke iv have noticed they are showing really low btc compared to what its traded at right now it used to be only about 15-30cents off its a full 1.0 off now.
Current rate is 5.48 USD for BTC.
mtgoxUSD  6.4349

[coga]

is your scripts broke iv have noticed they are showing really low btc compared to what its traded at right now it used to be only about 15-30cents off its a full 1.0 off now.
Current rate is 5.48 USD for BTC.
mtgoxUSD  6.4349

This is temporary. MtGox might have a good rate, but they have problems cashing out money lately. We switched to BitFloor for exchange, but there seems to be a liquidity problem there as well. Please hang on, this will get resolved this way or another soon.

[bal3wolf]

i see still big differnce even on that site your .70 lower then price with your fees and % you take thats a pretty good chunk i know you have to make a profit or break even but thats alot higher then anything you charged befor it seems i been buying from you for 2 years almost.
Current rate is 5.48 USD for BTC.
Last Price: $6.29 Low: $6.20High: $6.29

[coga]

i see still big differnce even on that site your .70 lower then price with your fees and % you take thats a pretty good chunk i know you have to make a profit or break even but thats alot higher then anything you charged befor it seems i been buying from you for 2 years almost.
Current rate is 5.48 USD for BTC.
Last Price: $6.29 Low: $6.20High: $6.29

That is correct, and it is caused exactly by liquidity issues on bit floor. For the price that a ticker shows you can only sell a couple bit coins, after that, then the price dips. So the script calculates what would the price be if we had to sell about 100. That rarely affected end price when we were primarily on MtGox, but now, on a smaller exchange it makes big difference.

I hate to offer such a bad price. I would much rather trade bigger quantities with less profit. We will try some other exchanges, and hopefully these issues will be resolved soon. Please hang on and the resolution is coming.

[coga]

Update on the price problem was posted at blog.btcbuy.info:

I am also glad to mention that the software patch was deployed, which would result in ~5% higher base rate.

See blog post for details.

[bogidu]

First time user, long time listener . . . . . TWO THUMBS UP FOR A SPEEDY SERVICE!   

[streblo]

when will amex, visa gift/prepaid cards be offered?

I have been trying to find options, but unsuccessfully so far. Those all come with caveats, which renders them useless, such as:

- must order physical card (means must pre-order, cannot issue fast)
- before usage, must register and verify name/address/age/ssn/phone #
- some will even impose monthly fee if not spent

if you know where can I get them without above-mentioned caveats, let me know, I will be happy to offer

Try vanilla visa.
http://www.walmart.com/ip/Visa-100-Gift-Card/16513386
http://www.walmart.com/ip/Visa-200-Gift-Card/20625678
http://www.bitmit.net/en/trade/i/4842-us-500-visa-gift-card/description

PS. If you sell prepaid cards which can pull cash out at ATMs, then you will get more business than you can handle.

[bal3wolf]

any eta when you might be back at mtgox i noticed they been going up and your prices are droping lol.

[coga]

any eta when you might be back at mtgox i noticed they been going up and your prices are droping lol.

Not sure. At one time, it seemed that MtGox is actually improving withdrawal times, but now it is going worse again.

We did have a significant order traffic last week, and even with faster withdrawals, from our alternative brokers, it is very hard to keep up, but when there is an extra 1-2 week when your cash is held, it is virtually impossible to do business.

So, I guess the answer to your question is "I don't know"

[bal3wolf]

any eta when you might be back at mtgox i noticed they been going up and your prices are droping lol.

Not sure. At one time, it seemed that MtGox is actually improving withdrawal times, but now it is going worse again.

We did have a significant order traffic last week, and even with faster withdrawals, from our alternative brokers, it is very hard to keep up, but when there is an extra 1-2 week when your cash is held, it is virtually impossible to do business.

So, I guess the answer to your question is "I don't know"

I see maybe using mutiple exchanges same time could help keeping cash flowing in faster  btw not trying to complain just tossing out any ideas could help you i know you have to make a profit and keep enugh funds to be able to do orders.

[coga]

any eta when you might be back at mtgox i noticed they been going up and your prices are droping lol.

Not sure. At one time, it seemed that MtGox is actually improving withdrawal times, but now it is going worse again.

We did have a significant order traffic last week, and even with faster withdrawals, from our alternative brokers, it is very hard to keep up, but when there is an extra 1-2 week when your cash is held, it is virtually impossible to do business.

So, I guess the answer to your question is "I don't know"

I see maybe using mutiple exchanges same time could help keeping cash flowing in faster  btw not trying to complain just tossing out any ideas could help you i know you have to make a profit and keep enugh funds to be able to do orders.

I'm aware the prices are not at the peak now, but last few days my exchanges were often giving prices better than on mtgox. Which I'm inviting you to take advantage of.

[bal3wolf]

yea i bought some cards when they were higher then mtgox i buy a card from you just about every 2 days when i dont gamble them away lol bad habit to get into.

[brocktice]

I just want to say I used this service for the first time today, and got my code almost immediately after purchase. Thanks, I will be using this service again!

[Wegg]

I purchased 2 bitcoins worth of amazon gift card credit and while I did receive the automated messages that my order was being processed. . . I have not received the gift cards.  it has been 24 hours now.  :-(

Edit:  Soon after posting this Sam got back to me and he re-sent the gift card number and it all worked.  Strange glitch in the matrix I guess. 

[Mattster28]

What are the fee's on a $100 Amazon gift card?