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Author Topic: Selling 15,000 BTC at $0.20/BTC  (Read 16001 times)
NghtRppr
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September 29, 2010, 06:12:21 PM
 #41

bitcoin2cash,
I would like to buy 50,000 bitcoins at $0.04 each, but I can not agree to your terms. I will give you the benefit of the doubt that you may be legit, but I will not give you the benefit of my money.

If satoshi posted he wants to sell 50,000 coins at 0.04/each, I'd probably ship him cash and wait for coins.  (Although, this would open a whole new can of worms  Tongue )

Good luck with your business.

First of all, I wouldn't allow you to send me that much cash in one transaction. I would insist that we trade in smaller denominations. Why aren't you willing to make smaller trades at first and go up from there once we have established a relationship?
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September 29, 2010, 07:01:53 PM
 #42

bitcoin2cash,
I would like to buy 50,000 bitcoins at $0.04 each, but I can not agree to your terms. I will give you the benefit of the doubt that you may be legit, but I will not give you the benefit of my money.

If satoshi posted he wants to sell 50,000 coins at 0.04/each, I'd probably ship him cash and wait for coins.  (Although, this would open a whole new can of worms  Tongue )

Good luck with your business.

First of all, I wouldn't allow you to send me that much cash in one transaction. I would insist that we trade in smaller denominations. Why aren't you willing to make smaller trades at first and go up from there once we have established a relationship?

If I sent you $1.00 and you sent me 25 coins, would you then believe that I am trustworthy and start sending coins first, before I send cash payment? I don't think your business model will allow this.

good judgment comes from experience, and experience comes from bad judgment
NghtRppr
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September 29, 2010, 07:15:57 PM
 #43

bitcoin2cash,
I would like to buy 50,000 bitcoins at $0.04 each, but I can not agree to your terms. I will give you the benefit of the doubt that you may be legit, but I will not give you the benefit of my money.

If satoshi posted he wants to sell 50,000 coins at 0.04/each, I'd probably ship him cash and wait for coins.  (Although, this would open a whole new can of worms  Tongue )

Good luck with your business.

First of all, I wouldn't allow you to send me that much cash in one transaction. I would insist that we trade in smaller denominations. Why aren't you willing to make smaller trades at first and go up from there once we have established a relationship?

If I sent you $1.00 and you sent me 25 coins, would you then believe that I am trustworthy and start sending coins first, before I send cash payment? I don't think your business model will allow this.

No but you are welcome to buy $1.00 at a time until you are comfortable with $5.00 at a time and so on.
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September 29, 2010, 07:17:07 PM
 #44



First of all, I wouldn't allow you to send me that much cash in one transaction. I would insist that we trade in smaller denominations. Why aren't you willing to make smaller trades at first and go up from there once we have established a relationship?
[/quote]

This is yet another sign of bad practice. Requesting people to do only smaller transactions creates even less value as the transaction costs (time, mailing, etc.) are way to high.

Stop bothering us with your improper business model.

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

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NghtRppr
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September 29, 2010, 07:29:11 PM
 #45

This is yet another sign of bad practice. Requesting people to do only smaller transactions creates even less value as the transaction costs (time, mailing, etc.) are way to high.

Stop bothering us with your improper business model.

The cost of a few extra stamps is outweighed by the risk associated with sending large amounts of cash in the mail.

Nobody is forcing you to read my posts. If I'm bothering you then stop reading.
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September 29, 2010, 08:29:40 PM
 #46

This is yet another sign of bad practice. Requesting people to do only smaller transactions creates even less value as the transaction costs (time, mailing, etc.) are way to high.

Stop bothering us with your improper business model.

The cost of a few extra stamps is outweighed by the risk associated with sending large amounts of cash in the mail.

Nobody is forcing you to read my posts. If I'm bothering you then stop reading.

Seriously S3052, if you don't like it or it bores you then do something else.

I'm going to give it a try when I get around to getting a stamp and envelope.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
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September 29, 2010, 08:35:31 PM
 #47

FreeMoney: fair point.
I only shared my concerns to protect others.
All: sorry if I go a bit too emotional

>15years analysis experience

Always do your own due diligence & consult your financial advisor. Never invest unless you can afford to lose your entire investment.

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grondilu
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September 29, 2010, 08:39:23 PM
 #48

bitcoin2cash,
I would like to buy 50,000 bitcoins at $0.04 each, but I can not agree to your terms. I will give you the benefit of the doubt that you may be legit, but I will not give you the benefit of my money.

If satoshi posted he wants to sell 50,000 coins at 0.04/each, I'd probably ship him cash and wait for coins.  (Although, this would open a whole new can of worms  Tongue )

Good luck with your business.

First of all, I wouldn't allow you to send me that much cash in one transaction. I would insist that we trade in smaller denominations. Why aren't you willing to make smaller trades at first and go up from there once we have established a relationship?

If I sent you $1.00 and you sent me 25 coins, would you then believe that I am trustworthy and start sending coins first, before I send cash payment? I don't think your business model will allow this.


In this kind of transaction, the one who makes the "first step" is obviously the one who has the slowest reputation.  bitcoin2cash has a better reputation since is has a website, even trivial.  So if I'm not happy it would be easy for me to just say "bitcoin2cash is a scam".   Now, if I was Satoshi, I would easily convince bitcoin2cash to send bitcoins first.  Because my reputation would be superior to bitcoin2cash's reputation.
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September 29, 2010, 09:26:25 PM
 #49

@bitcoin2cash:
Just find a way to use the private key of this address of yours to sign something and post it on your site. This would at least prove you own 50kBTC.

Regards

18rZYyWcafwD86xvLrfuxWG5xEMMWUtVkL
theymos
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September 29, 2010, 09:37:20 PM
 #50

70,000 BTC has been sent to the address that bitcoin2cash posted. I don't have tools to see spends from an address, so I can't say what the current balance is.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
NghtRppr
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September 29, 2010, 10:14:47 PM
 #51

70,000 BTC has been sent to the address that bitcoin2cash posted. I don't have tools to see spends from an address, so I can't say what the current balance is.

Also, make a note that I posted that same address on these forums on July 13th so unless those transfers were before then, it's safe to say that I'm actually the owner of that address. So, can you verify the time frame that the transfers were sent?
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September 30, 2010, 12:21:56 AM
 #52

You can also send them to the global developer's bitcoin verification address: 1PaUpJr6PEHjGxgL7YtwjsiGcAYqsZ8vD.

Coins won't actually transfer, only verification of the amounts.  Tongue

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mizerydearia
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September 30, 2010, 12:26:59 AM
 #53

You can also send them to the global developer's bitcoin verification address: 1PaUpJr6PEHjGxgL7YtwjsiGcAYqsZ8vD.

Coins won't actually transfer, only verification of the amounts.  Tongue

Actually, the correct address is 1PaufQctEbWBdBr8dYBdBDKcJ6YgAnQdsb
theymos
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September 30, 2010, 12:29:23 AM
 #54

Also, make a note that I posted that same address on these forums on July 13th so unless those transfers were before then, it's safe to say that I'm actually the owner of that address. So, can you verify the time frame that the transfers were sent?

Two transfers: block 80339 (12 days ago) and 82659 (1 day ago).

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
jimbobway
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September 30, 2010, 09:44:48 PM
 #55

I sent some money via snailmail.  Will report to this thread if I do or do not get bitcoins in the next week or two.

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TTBit
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September 30, 2010, 10:26:48 PM
 #56

I sent some money via snailmail.  Will report to this thread if I do or do not get bitcoins in the next week or two.

I'm not worried about receiving coins at said rate for $1-$5. I'd like to buy a majority of offered coins w/o stuffing $100 bills into an envelope, and taking all the risk. Still, please keep us updated.

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September 30, 2010, 10:57:04 PM
 #57

Quote

First of all, I wouldn't allow you to send me that much cash in one transaction. I would insist that we trade in smaller denominations. Why aren't you willing to make smaller trades at first and go up from there once we have established a relationship?

This is yet another sign of bad practice. Requesting people to do only smaller transactions creates even less value as the transaction costs (time, mailing, etc.) are way to high.

Stop bothering us with your improper business model.

That's not a sign of a bad business model.  That is a sign of intent to build a trust relationship.  If he had asked someone to send more at a time, then I'd be suspicious.  Start with, say, $20.  At that level, the cost of the stamp is still favorable to paypal.  If you wish to save as much on the stamp as possible, consider doubling your cash with each transaction.  This way if this thing turns sour, there is no point at which either party could have done significant harm.  If you double until you get to an uncomfortable level, stop doubling; and this protects you from dishonest mailmen from doing significant harm.

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NghtRppr
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October 05, 2010, 08:57:27 PM
 #58

I just sold $80 worth. There's 48,000 left with about 12,000 reserved.
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October 05, 2010, 09:00:48 PM
 #59

i am .0605 bid on mtgox for 15,000 if anyone wants the arbitrage
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October 05, 2010, 09:24:47 PM
 #60

i am .0605 bid on mtgox for 15,000 if anyone wants the arbitrage

Well, I'm not very good at those stuff, but isn't bitcoin2cash's bid a better deal ?

I mean, if I want to buy btc with 1$, with you I get 1./0.0605=16.53 BTC, when bitcoin2cash offers 25 BTC for the same dollar.  What do I get wrong ?
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