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Author Topic: Selling 15,000 BTC at $0.20/BTC  (Read 15980 times)
NghtRppr
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September 28, 2010, 10:00:37 PM
 #1

We have 15,000 BTC for sale at $0.20 per BTC (below market price). We only accept cash by mail.

http://www.bitcoin2cash.com/
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September 28, 2010, 10:09:32 PM
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selling 25 BTC for 1 USD and then buying back 200 BTC for the same 1 USD

You are to trying to make a profit margin of 87%.

Noone can be so foolish to do that!

Nice try.

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NghtRppr
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September 28, 2010, 10:10:58 PM
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How do you think I got 50,000+ BTC in the first place? Grin
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September 28, 2010, 11:50:07 PM
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Where are you located. I'll buy them.

However, I suspect you're trying to move the market with zero coins.

good judgment comes from experience, and experience comes from bad judgment
mtgox
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September 28, 2010, 11:59:49 PM
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Just curious, why not use mtgox? You can sell 25k on there right now for more than .04

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September 29, 2010, 12:19:11 AM
 #6

I'm running a business and trying to establish a reputation for safe cash transactions. All my information is at my URL in the first post. Feel free to contact me by email if you require more information.
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September 29, 2010, 12:46:32 AM
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Do you accept wire transfer?

2All: any idea how to secure transaction?

NghtRppr
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September 29, 2010, 01:04:38 AM
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I only accept cash by mail.
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September 29, 2010, 01:32:27 AM
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Would you consider sending bitcoins first? Would you consider escrow, with that being a trusted poster on this site?

Or, is the only way going to be sending you coins first, then waiting for cash?


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NghtRppr
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September 29, 2010, 02:07:04 AM
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I only send cash/bitcoins upon receipt. This is why I'm trying to establish a reputation. I'm hoping people will take the risk with smaller sums first and then move up from there.
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September 29, 2010, 03:27:14 AM
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Just curious, why not use mtgox? You can sell 25k on there right now for more than .04

It is unlikely bitcoin2cash will establish a positive reputation from their efforts in this manner.
Cash by mail could possibly become "lost" and therefore create profit for bitcoin2cash.
Only a percentage of the incoming funds need to be "lost" in order to generate profit.


e.g. the first us $1.00 sent to them will supposedly trigger bitcoin2cash to send 25btc.  However, current market indicates: $0.06195 each for BTC25 ($1.54875) at mtg.  Total cost for BTC25 is $1.54875

Therefore, in order for bitcoin2cash to afford sending 25btc, they will require at least $2.00 which will then produce an estimated $0.45 worth of profit.  Therefore, one of the two "$1.00" payments received will be claimed as lost.  I would claim it as lost if I were pursuing same scheme.
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September 29, 2010, 03:33:26 AM
 #12

Just curious, why not use mtgox? You can sell 25k on there right now for more than .04

It is unlikely bitcoin2cash will establish a positive reputation from their efforts in this manner.
Cash by mail could possibly become "lost" and therefore create profit for bitcoin2cash.
Only a percentage of the incoming funds need to be "lost" in order to generate profit.


e.g. the first us $1.00 sent to them will supposedly trigger bitcoin2cash to send 25btc.  However, current market indicates: $0.06195 each for BTC25 ($1.54875) at mtg.  Total cost for BTC25 is $1.54875

Therefore, in order for bitcoin2cash to afford sending 25btc, they will require at least $2.00 which will then produce an estimated $0.45 worth of profit.  Therefore, one of the two "$1.00" payments received will be claimed as lost.  I would claim it as lost if I were pursuing same scheme.

He's offering a good deal in order to establish a good reputation at which point he can charge a premium. Also he can keep stocked on the cheap if anyone wants/needs to get cash in the mail for their bitcoins. 200BTC/1$ does seem extreme though. I'd be interested to know if you get any takers on that.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
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September 29, 2010, 05:11:47 AM
 #13

He's offering a good deal in order to establish a good reputation at which point he can charge a premium. Also he can keep stocked on the cheap if anyone wants/needs to get cash in the mail for their bitcoins. 200BTC/1$ does seem extreme though. I'd be interested to know if you get any takers on that.

As does
Quote
Sell: For every 200 bitcoins sent to 1CRZpkKKAt7G5uiK4JPBjBJGnozgiatFAs you will receive $1.00 USD in cash by mail.
considering: $0.0639 each for BTC200 ($12.78) at bcm:pp.  Total amount for BTC200 is $12.78

Where are you located. I'll buy them.

However, I suspect you're trying to move the market with zero coins.

This is a possibility.  Perhaps they are trying to shape the market with this service, however, I am certain that since it requires mailing monies, that it will not succeed as well as mtgox or bitcoin market which use Internet-based monies and do not require any snail mailing.
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September 29, 2010, 07:34:48 AM
 #14

He's offering a good deal in order to establish a good reputation at which point he can charge a premium. Also he can keep stocked on the cheap if anyone wants/needs to get cash in the mail for their bitcoins. 200BTC/1$ does seem extreme though. I'd be interested to know if you get any takers on that.

As does
Quote
Sell: For every 200 bitcoins sent to 1CRZpkKKAt7G5uiK4JPBjBJGnozgiatFAs you will receive $1.00 USD in cash by mail.
considering: $0.0639 each for BTC200 ($12.78) at bcm:pp.  Total amount for BTC200 is $12.78

Where are you located. I'll buy them.

However, I suspect you're trying to move the market with zero coins.

This is a possibility.  Perhaps they are trying to shape the market with this service, however, I am certain that since it requires mailing monies, that it will not succeed as well as mtgox or bitcoin market which use Internet-based monies and do not require any snail mailing.

Snail mailing has pros and cons. This will not result in a tight market, but it will bring in some very privacy conscious people and those who cannot use PayPal, etc.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
NghtRppr
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September 29, 2010, 02:28:26 PM
 #15

Therefore, one of the two "$1.00" payments received will be claimed as lost.

That's libelous. Watch your wording since it sounds more like a claim of what will happen rather than hypothetical scenario. This is exactly the kind of thing that can damage my business.
grondilu
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September 29, 2010, 02:40:06 PM
 #16

We have 50,000+ BTC for sale at 25 BTC per $1.00 USD which is $0.04 per BTC (below market price).

http://www.bitcoin2cash.com/

Would you accept euros ?  What would be your ask for that ?.
How many bitcoins would you give for one euro ?
NghtRppr
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September 29, 2010, 02:41:03 PM
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I'd be interested to know if you get any takers on that.

I've already addressed this: http://bitcointalk.org/index.php?topic=1303.msg14437#msg14437
NghtRppr
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September 29, 2010, 02:43:42 PM
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Would you accept euros ?

No, I accept USD only. You can convert your currency to USD at most banks or airports.
grondilu
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September 29, 2010, 02:49:20 PM
 #19

Would you accept euros ?

No, I accept USD only. You can convert your currency to USD at most banks or airports.

I'll do that, since your fares seem better than bitcoin4cash.
NghtRppr
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September 29, 2010, 02:52:37 PM
 #20

Would you accept euros ?

No, I accept USD only. You can convert your currency to USD at most banks or airports.

I'll do that, since your fares seem better than bitcoin4cash.


Please contact me by email and let me know how much you are sending so I can reserve the appropriate number of bitcoins for you.
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