New baby on the way, selling 40 of my BTCs through webstore (25$ each)

[Richard S]

When I started investing in these coins, I knew they would be an instant hit. Though, never in my life did I imagine how much the value of these would go up! The money I invested in these not too long back has grown to be worth a fortune. Bitcoin community, I would like to thank you. You've turned an amazing idea into an amazing reality.

Sadly, yet happily, I need to "cash in" some of my bitcoins. My wife and I are proud to announce that we have a little one entering our family, and I need to get a fair bit of extra money to accommodate some of our costs.

So, I am looking to sell 40 of my bitcoins.

To make things easier for potential buyers and myself, I have created a store on an online auction site. Originally I was going to go through eBay, but their fees are getting outrageous. I have created a store on webstore.com so we can get the same peace of mind, without eBay taking away money that can go towards my child's clothing.

I am selling my bitcoins here: http://webstore.com/id=9109625

If you would like to go through PayPal (I am PayPal verified in case you're wondering) without dealing with webstore as a middleman, please PM me and we will discuss it. As of now, I am selling each bitcoin for $24.99. If you'd like to show some gratitude and pay a little extra for each bitcoin, my wife, my child and I will forever be thankful for you.

If you purchase through webstore.com, feel free to PM me on here your bitcoin address and I'll send over your coins as quickly as possible. :-)

Thank you for viewing my thread!

God bless you all, and I can assure you that soon there will be a little child of mine who will be an active supporter of bitcoin! 

Please PM me or reply if you have any questions. :-)

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[tito13kfm]

I did a test purchase of 4 through Webstore.  I am interested in buying you out.  But I would like to do it in groups of 4 to minimize my losses if something happens.

The money should have gotten to you through PayPal, and you have my bitcoin address in the PM and email I sent you.

I'll let everybody know how it goes.

[tsvekric]

yeah, I don't trust this at all

[tito13kfm]

yeah, I don't trust this at all

Well, it's only a $100 I could lose right now.  Not a huge deal to me.  I'm not as cynical and untrusting as I should be.  I'm willing to give people the benefit of the doubt.

[Richard S]

I apologize, a few of you purchased them and PayPal limited me immediately. Called to figure out why, and apparently I can't do transactions of digital items. For those of you that paid, I will issue your refunds immediately. Again, I apologize.

[Chris Acheson]

I apologize, a few of you purchased them and PayPal limited me immediately. Called to figure out why, and apparently I can't do transactions of digital items. For those of you that paid, I will issue your refunds immediately. Again, I apologize.

Wow, they're fast.   

[tito13kfm]

I apologize, a few of you purchased them and PayPal limited me immediately. Called to figure out why, and apparently I can't do transactions of digital items. For those of you that paid, I will issue your refunds immediately. Again, I apologize.

Well, the refund is pending for 3-5 business days.  That's paypal, not you.  Sorry we couldn't do business.

[Garrett Burgwardt]

http://thebitcoinsun.com/post/2011/06/05/The-Paypal-Problem

Why don't you all learn  

[Richard S]

I apologize, a few of you purchased them and PayPal limited me immediately. Called to figure out why, and apparently I can't do transactions of digital items. For those of you that paid, I will issue your refunds immediately. Again, I apologize.

Wow, they're fast.   

Tell me about it. Not even a few minutes after receiving payments and suddenly they throw a fit.

All refunds have gone through. Again, I apologize for the inconvenience. I am hoping none of you were docked any fees for this, I know I was.

I'll try and discover another way I could get paid in a way where I can immediately deposit into my bank account (DEFINITELY something other than paypal.) If I find a way, I will let you all know. Again, I apologize for the inconvenience.

[Richard S]

http://thebitcoinsun.com/post/2011/06/05/The-Paypal-Problem

Why don't you all learn  

I'm sorry, I wasn't aware of this. Any recommendations as to an alternative payment processor that will allow me to direct deposit any payments into my bank account?

[tito13kfm]

http://thebitcoinsun.com/post/2011/06/05/The-Paypal-Problem

Why don't you all learn  

I'm sorry, I wasn't aware of this. Any recommendations as to an alternative payment processor that will allow me to direct deposit any payments into my bank account?

http://www.tradehill.com Use referral code TH-R1366 for 10% off all transaction fees.

They have an instant sell system, and will do a direct deposit to your bank account.

Right now they are offering $27.85 per coin

[Garrett Burgwardt]

Yeah, I know people aren't aware - that's the problem.

I recommend Dwolla, which takes a few days to setup, but is irreversible. And then you can sell directly to Keefe on #bitcoin-irc - very reputable guy.

There's also the check in the mail option, which I can do (send me btc, I cash them out, write you a check, mail it off). Fees apply, but you stay kinda anonymous, and maybe you don't want to setup dwolla?

[Richard S]

Just did some google searching and found Liberty Reserve, is that a good way to be paid? And how about google checkout? Though I am a bit skeptical about google checkout, seems to be a PayPal clone if anything. I'd hate to go through this again, receive a payment and suddenly the door is shut on you.

[tito13kfm]

Just did some google searching and found Liberty Reserve, is that a good way to be paid? And how about google checkout? Though I am a bit skeptical about google checkout, seems to be a PayPal clone if anything. I'd hate to go through this again, receive a payment and suddenly the door is shut on you.

Again, you'd be using a 3rd party to process the payment.  Liberty reserve will take a fee for processing it, and then you need to get the money out of them to your bank.

I'd say go with tradehill. I did a transaction of a similar number of coins yesterday and had it withdrawn to Dwolla within an hour.  A bank transfer would take 1-3 business days, but you'd avoid first going through LR and then to your bank.

[Garrett Burgwardt]

Google checkout is a copy of paypal, with slightly better fees. They'll freeze your account too.

Liberty Reserve works, but it's slow and complex.

Dwolla is definitely your best bet.

Or, since you're selling so many coins, just throw them into mtgox, sell them all, and get a bank wire.

[Richard S]

I looked into mtgox earlier, but if I read correctly it seems I'd send all of my BTCs that I am wanting to sell to them? How secure is this? Is there any risk of losing my coins if they were to shut down? Are they truly legitimate?

And thanks for the recommendations, I'll surely look into Dwolla, sounds perfect.

[Garrett Burgwardt]

Mt. Gox is used by tons of people. I would trust them.

Just don't freak out when your account isn't credited right away - it takes 6 confirmations before they show up in your account.

[rebuilder]

I looked into mtgox earlier, but if I read correctly it seems I'd send all of my BTCs that I am wanting to sell to them? How secure is this? Is there any risk of losing my coins if they were to shut down? Are they truly legitimate?

Yes, if they shut down, of course there is a risk. They've been around for a long time though, and have built a strong reputation. Go see the trade volumes listed there, and then contrast that to how many (or rather, few) people are complaining here about being scammed by them. If they were actively scamming people, there'd be a huge outcry here, because right now it is *the* exchange for Bitcoin.

Personally,  with Mt Gox's record, I'd consider the risks of person-to-person trades considerably higher than having Mt Gox act as middleman.