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Author Topic: Why do bitcoins sell for so much on ebay?  (Read 1526 times)
Bitcoin Swami
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June 17, 2011, 10:39:20 PM
 #1

I see this market falling, but then I look at the completed listings on Ebay.  Some are going for 40 bucks a pop.

Is ebay the real value or are the markets the real value?  HMMMMM



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Lugard
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June 17, 2011, 11:06:46 PM
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Harro... has every post of yours been about that bitcoinboom thing(Which, according to some threads, is a scam), and bitcoin7?

Fairly newbie bitcoin miner/user.

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BookofNick
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June 17, 2011, 11:31:42 PM
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I think it's a few things:

eBay does not allow sale of a virtual item. So #1 it is against eBay policy. Also, sellers risk chargebacks through PayPal. As a result of these things, there are few listings. Even fewer run the gauntlet without being flagged. Small supply = high prices.

Also, people who have just discovered BTC are waiting on Dwolla, etc and want in before a potential price spike. High demand = high prices.

FYI: I have sold Bitcoins on eBay. Not worth the risk of chargebacks or having my account shut down.

fascistmuffin
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June 17, 2011, 11:41:01 PM
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I think there's a lot more stupid people buying on ebay. Just look at the computer sales area. Old P4 computers are selling for $350+.
Littleshop
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June 17, 2011, 11:41:19 PM
 #5

some of the bids were placed when bitcoin was $22.  So they were high then, low now.

Selling bitcoins or anything virtual is a bad move on ebay.

ktomi
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June 17, 2011, 11:43:55 PM
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What if I put up something for sale and I say if you buy this item, I'll give you 1 Bitcoin as a free gift for your purchase?
tymothy
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June 17, 2011, 11:48:02 PM
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Lots of people just want a low barrier entry into getting into bitcoin. It's not really a currency or an investment asset to some people, just a cool thing to have. Ebay is a platform most people are comfortable with and people are ok with paying a premium just to get into the game. It's the difference between the forex trader and the tourist paying +15% at an airport currency exchange kiosk.
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June 17, 2011, 11:55:23 PM
 #8

What if I put up something for sale and I say if you buy this item, I'll give you 1 Bitcoin as a free gift for your purchase?

then they can return the item, get their money back and keep your bitcoin.

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