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Author Topic: Any bitcoin brokers here or out there?  (Read 649 times)
b¡tco¡n
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March 25, 2013, 09:41:56 AM
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I am thinking of starting a brokering business, introducing Bitcoin buyers and sellers, and providing a safe escrow service for the transaction. This allows people to trade without affecting the price out of their favour on the exchanges.

Is anyone already doing this? If you had 1000BTC or more, would this interest you as a well of selling some coins.




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BTC_Bank_of_Canada
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March 25, 2013, 10:11:04 AM
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We have an interest in starting a BTC trading firm with the first Canadian BTC Bank. BTC "capital" would be an asset.
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March 25, 2013, 10:35:11 AM
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Sounds like a brilliant idea. Good luck on your en devours.
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March 25, 2013, 10:36:37 AM
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I am thinking of starting a brokering business, introducing Bitcoin buyers and sellers, and providing a safe escrow service for the transaction. This allows people to trade without affecting the price out of their favour on the exchanges.

Is anyone already doing this? If you had 1000BTC or more, would this interest you as a well of selling some coins.

Have you looked at LocalBotcoins.com?

Stephen Gornick
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March 25, 2013, 10:38:16 AM
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I am thinking of starting a brokering business, introducing Bitcoin buyers and sellers, and providing a safe escrow service for the transaction. This allows people to trade without affecting the price out of their favour on the exchanges.

I only know a little of this, but what I'm learning is that finding the bulk sellers is harder than finding the bulk buyers,  The larger sellers might have coins from revenues arriving over a period of time (either mining or from sales to customers who pay using bitcoins).  This is in contrast to the bulk buyer who arrives and wants to purchase the full amount in a single transaction with little delay, and at a level somewhat close to the current spot rate.

So in order to have access to the seller's supply there needs to be capital so that the seller will never be turned away whether or not a buyer is already lined up for those coins.  The unsold stock may get converted to USDs and parked at an exchange until a buyer arrives, so as to protect against exchange rate risk, but that still is a capital intensive operation.



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March 26, 2013, 12:05:58 AM
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Have you looked at LocalBotcoins.com?

LocalBitcoins this seems like the Gumtree / Craigslist approach.

What I propose is more like a one-stop shop. I might use LocalBitcoins to find people on the 'other side' of a deal though.


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b¡tco¡n
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March 26, 2013, 12:11:28 AM
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Stephen thanks you raise some good points.

My assumptions was that finding sellers would be harder since there is a bull market and many will want to hold on for a better price. The exception would be imagine if you had BTC 10k and a $250k mortgage. I think some would be tempted to sell a fraction of their coins to pay the mortgage off and keep the rest for speculation. Not everyone wants to be 'all in'.

In terms of lining capital up for a fast transaction this could be hard. I have some ideas about how to solve this problem though, without needing to borrow or stump up a lot of cash-flow.

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