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Author Topic: Buy and Sell Mt Gox USD  (Read 77396 times)
mtgox
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October 25, 2010, 12:56:13 PM
 #1

You can now send and receive BTC and USD from other Mt Gox users. This means that people wanting to get USD into Mt Gox just need to find people that want to get USD out of Mt Gox and then trade USD by whatever method they can agree on (Paypal, LR, AlertPAy, Cash etc)

I'm hoping a few people will try to do this formally the way LR has exchangers. There is a merchant API so it should be easy to automate if you want. Please email me if you are interested and need help getting set up.

Anyway use this thread to list offers to buy or sell mtgox USD.

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jorgen
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October 25, 2010, 01:13:37 PM
 #2

We need volunteers who will buy MtGox USD for any non-chargebackable e-cash.
They have to provide their email and/or username in MtGox and bitcoin forum nik.
Also it would be good to see exchange rate for any pairs in direction Gox$ -> Liqpay, LR, WM, etc...

I can start from myself:
MtGox user: jorgen
e-mail: jorgen@safe-mail.net
Rate: 1Gox$ -> 0.8 Liqpay, 0.75 LR 

Added: if you for some reason do not want to use liqpay to add money to your balance I can do this for you
my rate for this: 1 Liqpay$ = 1 Liberty Reserve$  Grin

My LR is U1727661 (btccollector)
My Liqpay is +4542488881
BTC addr: 13fZzb9M5MKEtBQTsH5EdwuzXXrBM8VYsV

feel free to PM or email to me and we negotiate terms and amounts.
Drifter
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October 25, 2010, 03:08:19 PM
 #3

This is going to make it very tedious, confusing, expensive and unnecessary. Say the price on Mt gox is .1, and I sell 10,000 coins. That's 1,000 USD on Gox. In order to cash out I'd be losing around 25%, not including withdrawal fees from liberty reserve itself if I decide to withdraw a route like that.

You guys are essentially creating your own withdrawal fee for Mt. Gox. This will increase prices on Gox and make the "USD" exchange rate incorrect in correlation to the real dollar. People will need to increase the price of coins specifically on Mt. Gox in order to offset the 25% loss if people buy Gox dollars for .75/1.

I appreciate Mt. Gox for this service, as it COULD help, but if people sell for 75 cents on the dollar, it's worthless. Mt. Gox should be equal to the dollar with MAYBE up to a 5% fee for an exchange rate. Any more and you're better off using an entirely different market. Mt Gox dollars shouldn't be worth less than the USD or now we're using a new digital currency alongside Bitcoin.

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October 25, 2010, 03:19:19 PM
 #4

This is going to make it very tedious, confusing, expensive and unnecessary. Say the price on Mt gox is .1, and I sell 10,000 coins. That's 1,000 USD on Gox. In order to cash out I'd be losing around 25%, not including withdrawal fees from liberty reserve itself if I decide to withdraw a route like that.

You guys are essentially creating your own withdrawal fee for Mt. Gox. This will increase prices on Gox and make the "USD" exchange rate incorrect in correlation to the real dollar. People will need to increase the price of coins specifically on Mt. Gox in order to offset the 25% loss if people buy Gox dollars for .75/1.

I appreciate Mt. Gox for this service, as it COULD help, but if people sell for 75 cents on the dollar, it's worthless. Mt. Gox should be equal to the dollar with MAYBE up to a 5% fee for an exchange rate. Any more and you're better off using an entirely different market. Mt Gox dollars shouldn't be worth less than the USD or now we're using a new digital currency alongside Bitcoin.

Agree 100%.

Anything different would jeopardize the trust in the entire system.

MtGox USD must be staying USD (with the expection of transaction fees as indicated above. but I'd even challenge the 5%, it needs to be lower)

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TTBit
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October 25, 2010, 03:48:00 PM
 #5

I think it is fine. Let the market decided what MtGox USD are worth. If you don't like it, offer 100% of your money for MtGox USD.

good judgment comes from experience, and experience comes from bad judgment
jgarzik
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October 25, 2010, 04:01:12 PM
 #6

To help out mtgox, and hopefully move mtgox closer to permitting withdrawals, I am offering to buy some MTGOX-USD using PayPal funds.

Terms:
  • 1:1 conversion rate
  • transaction must exceed $100 MTGOX-USD (I don't want to deal with 100 people asking me for $10 each)
  • you pay paypal fees, if any
  • you must have a good reputation on IRC or this forum

Contact me via forum PM or IRC PM, if interested.

Update: This offer is now closed.

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jorgen
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October 25, 2010, 04:16:55 PM
 #7

I agree to Drifter, it is not normal, but this is TEMPORARY MEASURE for those who can't wait and do not want to convert all accumulated Gox$$ back to bitcoins then withdraw BTC and sell them on another markets to receive theirs real $$. Calculate for yourself and you will end up in even more unfair rate.
jorgen
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October 25, 2010, 04:40:26 PM
 #8

To help out mtgox, and hopefully move mtgox closer to permitting withdrawals, I am offering to buy some MTGOX-USD using PayPal funds.

Terms:
  • 1:1 conversion rate
  • transaction must exceed 100 MTGOX-USD
  • you pay paypal fees, if any
  • you must have a good reputation on IRC or this forum

Contact me via forum PM or IRC PM, if interested.

Excellent! I want to be your client. But I'm not sure I have enough reputation.
If you traded on bitcoinmarket you can know my LR acc. Also you can ask info
about my trade history from MtGox.
BTW what is the maximum amount for withdrawal.
jgarzik
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October 25, 2010, 04:45:06 PM
 #9

To help out mtgox, and hopefully move mtgox closer to permitting withdrawals, I am offering to buy some MTGOX-USD using PayPal funds.

Terms:
  • 1:1 conversion rate
  • transaction must exceed 100 MTGOX-USD
  • you pay paypal fees, if any
  • you must have a good reputation on IRC or this forum

Contact me via forum PM or IRC PM, if interested.

Excellent! I want to be your client. But I'm not sure I have enough reputation.
If you traded on bitcoinmarket you can know my LR acc. Also you can ask info
about my trade history from MtGox.
BTW what is the maximum amount for withdrawal.

Maximum amount $1000.  Send me a PM.

Jeff Garzik, bitcoin core dev team and BitPay engineer; opinions are my own, not my employer.
Donations / tip jar: 1BrufViLKnSWtuWGkryPsKsxonV2NQ7Tcj
jorgen
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October 25, 2010, 10:17:50 PM
 #10



Maximum amount $1000.  Send me a PM.

[/quote]

Just got the Max from JGarzik! Cool, PP charged only 5$ Smiley
esop
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October 26, 2010, 03:01:58 AM
 #11

So did mt.gox have all cash seized for money laundering or just card fraud?
Is trading mt.gox money rely just passing off bad debt?
And why is mt.gox putting up fake low quotes?

The way I see it if you buy bitcoins at $0.20gox you'll at least get half of your coin back.
If you wait too long the feds mite find his box then you get nothing.
It was a good try, and I thank mt.gox for the try.

If mt.gox was the edonky.com of bitcoin who is the pirate bay?
Perhaps we could take from the "hawala" system.
If you sell on ebay the old e-con-o-my will con you just like it did mt.gox.
kiba
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October 26, 2010, 03:12:24 AM
 #12

So did mt.gox have all cash seized for money laundering or just card fraud?
Is trading mt.gox money rely just passing off bad debt?
And why is mt.gox putting up fake low quotes?

The way I see it if you buy bitcoins at $0.20gox you'll at least get half of your coin back.
If you wait too long the feds mite find his box then you get nothing.
It was a good try, and I thank mt.gox for the try.

If mt.gox was the edonky.com of bitcoin who is the pirate bay?
Perhaps we could take from the "hawala" system.
If you sell on ebay the old e-con-o-my will con you just like it did mt.gox.


Being ignorant of the situation is no excuse to write bad post accusing MtGox of things that actually did not happen.

Anonymous
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October 26, 2010, 03:25:19 AM
 #13

So did mt.gox have all cash seized for money laundering or just card fraud?
Is trading mt.gox money rely just passing off bad debt?
And why is mt.gox putting up fake low quotes?

The way I see it if you buy bitcoins at $0.20gox you'll at least get half of your coin back.
If you wait too long the feds mite find his box then you get nothing.
It was a good try, and I thank mt.gox for the try.

If mt.gox was the edonky.com of bitcoin who is the pirate bay?
Perhaps we could take from the "hawala" system.
If you sell on ebay the old e-con-o-my will con you just like it did mt.gox.


Thats just scare mongering. Unless you can prove any of it I suggest you stop.
nanaimogold
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October 26, 2010, 09:56:32 AM
 #14

How much Paypal is frozen? Do we know the extent of the chargebacks yet?

The exchange rate at Mt gox is too screwy for me to even use in calculations.

Nanaimo gold rates here;

http://www.nanaimo-gold.com/bitcoin.php

Traders welcome - Paypal not accepted.


https://www.nanaimogold.com/ - World's first bitcoin exchange service
Anonymous
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October 26, 2010, 11:50:47 AM
 #15

How much Paypal is frozen? Do we know the extent of the chargebacks yet?

The exchange rate at Mt gox is too screwy for me to even use in calculations.

Nanaimo gold rates here;

http://www.nanaimo-gold.com/bitcoin.php

Traders welcome - Paypal not accepted.



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SmokeTooMuch
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November 02, 2010, 02:50:20 PM
 #16

I'm looking for someone who will exchange my MTGOX USD into PayPal USD or PayPal EUR.
I'd like to see a nearly 1:1 exchange rate here.
The exact amount to exchange is 344.72 USD.
Since PayPal has chargeback I need someone with good reputation on this forums.

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November 02, 2010, 03:09:57 PM
 #17

That's really weird, so if I added 20$ with liqpay i can't get them back at a 1:1 rate? be it on LR?

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November 02, 2010, 03:19:53 PM
 #18

I'm looking for someone who will exchange my MTGOX USD into PayPal USD or PayPal EUR.
I'd like to see a nearly 1:1 exchange rate here.
The exact amount to exchange is 344.72 USD.
Since PayPal has chargeback I need someone with good reputation on this forums.

I hope you get near full value, if you are in a hurry though I'll offer $300PP. I can do it right now.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
ribuck
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November 02, 2010, 04:15:53 PM
 #19

I offer $305 PP USD.
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November 02, 2010, 06:36:44 PM
 #20

Hmm, give me 330 USD and we're having a deal.

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You like what I'm doing? Why don't you send me a coin: 17Pj8jpUgY6qTaKgiopL5U48zxU4rTrkuB
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