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samablog (OP)
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June 15, 2011, 01:46:12 PM
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Anybody out there have experience trading there?  It looks like their "buy it now" price is $15/BTC.  That seems way cheap.  What's to stop someone from engaging in a massive amount of arbitrage?  Is that price for real?  Is Bitcoin7.com for real?

Thanks
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alkhdaniel
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June 15, 2011, 01:58:21 PM
Last edit: June 15, 2011, 03:13:45 PM by alkhdaniel
 #2
Don't believe they are scamming (yet). Very good design on the site makes me think they're here to stay for a while atleast. The thing is that there's not a high volume so you'll only get a few coins/usd of exchange worth.

Edit:
http://forum.bitcoin.org/index.php?topic=17043.0
Not sure if trustworthy.
dacoinminster
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June 15, 2011, 02:01:34 PM
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Quote from: samablog on June 15, 2011, 01:46:12 PM
Anybody out there have experience trading there?  It looks like their "buy it now" price is $15/BTC.  That seems way cheap.  What's to stop someone from engaging in a massive amount of arbitrage?  Is that price for real?  Is Bitcoin7.com for real?

Thanks

Don't make people copy/paste/type. Here's the link: https://bitcoin7.com/

This is a really nice-looking site. Exciting!
I wrote The Second Bitcoin Whitepaper
Check out my attempt at using memes to explain bitcoin
I have seen bitcoin's dystopian future
dr.bitcoin
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June 15, 2011, 02:23:17 PM
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Instant selling does not seem to be working at the moment...
Yankee (BitInstant)
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June 15, 2011, 02:27:40 PM
 #5
Quote from: samablog on June 15, 2011, 01:46:12 PM
Anybody out there have experience trading there?  It looks like their "buy it now" price is $15/BTC.  That seems way cheap.  What's to stop someone from engaging in a massive amount of arbitrage?  Is that price for real?  Is Bitcoin7.com for real?

Thanks

its based on ask/bid.

If the insant buy is $15, is there anyone who would take that bid?
Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

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dr.bitcoin
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June 15, 2011, 02:33:27 PM
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I just tried to sell them 1 BTC for $15 via instant selling, just for the fun of it  Grin It's definitely not working!
bitcoinconnection
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June 15, 2011, 02:36:52 PM
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I signed up yesterday, tried a few thing on the site. But, have not traded any BTC. I seem to be Ok, but not sure.



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dacoinminster
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June 15, 2011, 02:39:08 PM
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WARNING! Search this forum for "Bitcoin7"

There are a lot of bad signs, including much of the text on the site being ripped straight from TradeHill.com

This COULD mean they are just trying to get something up quickly, but it could also mean this is a scam. Proceed at your own risk!!
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samablog (OP)
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June 15, 2011, 04:11:08 PM
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Got it.  Glad others have tried before me.  I signed up for an account but didn't transfer any money to them.  Glad I didn't at this point.
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June 15, 2011, 05:36:36 PM
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Yeah, It seems there is a few CSRF issues....
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