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Author Topic: I dont understand how people can sell BTC on ebay for so much over spot  (Read 1550 times)
goshlosh
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January 23, 2013, 09:06:09 AM
 #21

I guess some people have few BTC and they know it is not worth cashing it because of fees. Some people need few BTC quick.
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January 23, 2013, 09:46:36 AM
 #22

Paypal accounts are easy to steal or buy.  Get the associated eBay account, buy a few dozen auctions for BTC at whatever price it goes to, and hand out your BTC addresses once the auctions are finished, raking in a huge amount of BTC and not caring at all when the legitimate account owners look at their Paypal activity and say "WTF is this???" and charge it back.

I've thought about some sort of website for buying Bitcoin with a CC or Paypal that just wouldn't let you have access to them for 180 days.  But Bitcoin, I hold them in escrow for 180 days, then you can have them afterward.

Sounds like more trouble than it's worth though.

    Feb 18, 2000       Payment From    xxxxxxxxxxxxxx   Completed   Details Payment From xxxxxxxxx xxxxxxxxxxxxxx       $510.00   $0.00   $510.00 USD

see how long ive had my paypal account.  now someone trade me some dwolla!

didn't amazon.com open before '99?   shame you can't see your full order history

Shipment #1: Shipped on October 20, 1999            
Shipping estimate: October 20, 1999
  Delivery estimate: October 25, 1999 - October 27, 1999 (More about estimates)
1 package via USPS

1 of: Elric of Melnibone [Mass Market Paperback]
By: Roy Thomas, Michael Moorcock
Sold by: Amazon.com LLC
$4.79
 
1 of: Ender's Shadow [Hardcover]
By: Orson Scott Card
Sold by: Amazon.com LLC
$17.47
 
1 of: Enders Game [Paperback]
By: Orson Scott Card(Introduction)
Sold by: Amazon.com LLC
$3.19

you know, i am pretty sure those were new paperbacks... ender's game for $3.19.. wtf?

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jonabir
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January 23, 2013, 03:11:24 PM
 #23

I agree with the convenience aspect on the whole: speed of purchase and perceived difficulty to obtain BTC. I like the mini-bar analogy.

Aside from that, do bare in mind that eBay is an established purchasing route in the minds of many. Somebody who wants BTC may not be aware of, or trust, the fiat-exchanges out there..
wabashky
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January 23, 2013, 07:00:14 PM
 #24

Aside from that, do bare in mind that eBay is an established purchasing route in the minds of many. Somebody who wants BTC may not be aware of, or trust, the fiat-exchanges out there..

I agree..not all of them seem 'legit' at first glance. I'd much rather buy BTC from just another eBayer than some company that might take it.  I think that is kind of the premise behind BTC...Person to Person trading. eBay is just another conduit to perform it.
SgtSpike
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January 23, 2013, 07:00:59 PM
 #25

Paypal accounts are easy to steal or buy.  Get the associated eBay account, buy a few dozen auctions for BTC at whatever price it goes to, and hand out your BTC addresses once the auctions are finished, raking in a huge amount of BTC and not caring at all when the legitimate account owners look at their Paypal activity and say "WTF is this???" and charge it back.

I've thought about some sort of website for buying Bitcoin with a CC or Paypal that just wouldn't let you have access to them for 180 days.  But Bitcoin, I hold them in escrow for 180 days, then you can have them afterward.

Sounds like more trouble than it's worth though.

    Feb 18, 2000       Payment From    xxxxxxxxxxxxxx   Completed   Details Payment From xxxxxxxxx xxxxxxxxxxxxxx       $510.00   $0.00   $510.00 USD

see how long ive had my paypal account.  now someone trade me some dwolla!

didn't amazon.com open before '99?   shame you can't see your full order history

Shipment #1: Shipped on October 20, 1999            
Shipping estimate: October 20, 1999
  Delivery estimate: October 25, 1999 - October 27, 1999 (More about estimates)
1 package via USPS

1 of: Elric of Melnibone [Mass Market Paperback]
By: Roy Thomas, Michael Moorcock
Sold by: Amazon.com LLC
$4.79
 
1 of: Ender's Shadow [Hardcover]
By: Orson Scott Card
Sold by: Amazon.com LLC
$17.47
 
1 of: Enders Game [Paperback]
By: Orson Scott Card(Introduction)
Sold by: Amazon.com LLC
$3.19

you know, i am pretty sure those were new paperbacks... ender's game for $3.19.. wtf?
Yeah, and if a hacker had control of your paypal account, he could claim all the same things.  That's my point - you don't know if the person you are talking to is truly the account holder.
n8rwJeTt8TrrLKPa55eU
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January 23, 2013, 09:44:25 PM
 #26

Someone who just wants a bitcoin to play with for journalistic or academic purposes or experimentation also doesn't care about the price as long as the premium he's paying to acquire the coin is realistic.

Another reason: potential eBay bucks expirations.  eBay bucks is the rewards program that gives you back a coupon based on your eBay purchases each quarter.

I myself have some small amount of eBay bucks that will expire on February 1st.  I can't spend that money anywhere but on eBay. 

Since I'm not interested in buying anything on eBay right now and the coupon is not transferable, rather than lose the credit on Feb 1st, I'll probably just buy some BTC, even at an exorbitant price.


wabashky
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January 24, 2013, 12:09:59 AM
 #27

Good point. I have been using mine for Silver! I order a lot for work so I have 30-50 a quarter sometimes.
constitution
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January 24, 2013, 02:46:52 AM
 #28

 I think the only people buying BTC off ebay are people who know nothing about bitcoin.

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January 24, 2013, 03:25:15 AM
 #29

I almost used paypal, but was afraid of being scammed again.. But I think some people would pay that much because they are to lazy to go out, or it's so easy just to pull a CC  to use.

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January 24, 2013, 03:28:19 AM
 #30

Yea, credit cards are very simple to use probably the best way for buying BTC

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January 24, 2013, 03:42:53 AM
 #31

Selling btc on ebay can be very lucrative if you do it properly and take proper precautions.
abbyd
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January 24, 2013, 01:15:44 PM
 #32

Selling btc on ebay can be very lucrative if you do it properly and take proper precautions.

If this wasn't a bitcoin forum, your statement could easily be misinterpreted:
http://www.urbandictionary.com/define.php?term=BTC&defid=5106418...
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