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Author Topic: starting small  (Read 700 times)
barterfanatic
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June 22, 2011, 01:25:13 AM
 #1

Because I barter a lot through a number of barter exchanges I'm used to the idea of non-standard currencies, however bitcoin itself is a new concept for me.  With that in mind I'd like to start small; sell the equivalent of a couple hundred dollars worth of merchandise for bitcoins, then see how it goes buying something with my shiny new bitcoins.  Really I just want to run a couple small transactions to learn the ropes.  Any suggestion on how to hook up with someone who might want to buy some jewelry for bitcoins?  Any advice is appreciated.
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June 22, 2011, 01:30:56 AM
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The market is really illiquid right now.  The recent hacking issues I think have really cut back on people spending them, as they're waiting for them to go up in value - Looking at Craigslist for local converters all over the country I found prices ranging from $20/BTC to 45/BTC, with most vendors above $30 for in-person cash transactions.

Best i've been able to figure out is start to populate the various classified/auction sites that operate on a BTC standard, there are three and none of them seem terribly popular - Much better to do dutch auctions rather than wait for people to bid it up, because the buyers just aren't there. 

So the question is, what can you supply?

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barterfanatic
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June 22, 2011, 02:11:33 AM
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Yeah... I've read the news and realize it's probably not the greatest time to jump in.  That being said, I want to start small so I'm really not too worried about getting burnt.

I've got some nice jewelry that is NIB that I've been bartering away.  I was thinking of selling one piece for bitcoins to see how it goes.  I've got them posted on my barter blog at:  http://barterfanatic.com/necklaces. I just need to figure out how to let people with bitcoin know I have items for sale.  You know the bitcoin wiki that lists stores that take bitcoins?  If I was to whip up a little online store with my items in it, do you know if I could I post a link to the store on that wiki page?
edd
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June 22, 2011, 02:25:05 AM
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The wiki is a good place to start and you shouldn't have any trouble adding your info there. I'll also be happy to add your blog to The Bitcoin List as soon as I get home.

Still around.
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June 22, 2011, 02:46:45 AM
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Yeah... I've read the news and realize it's probably not the greatest time to jump in.

I disagree. Now, after bitcoin exchange rate has dropped it is a great time to get some bitcoins really cheap. The market confidence is at the all time low, so after mtgox opens people who lost faith in bitcoin will be dumping their bitcoins which will drive the price low.
I have got my first bitcoins for about $6 and I only regret not buying enough. So to fix that mistake, I will be buying now because as the confidence gets slowly restored the prices will get back up.
Archer8
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June 22, 2011, 03:31:56 AM
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If you're looking to start selling a few things why not try and patronize this site:

http://www.bitbid.net/

They are obviously trying to get their auction site off the ground and it could benefit both of you. 

I don't have any interest in that site, just trying to help.


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zductiv
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June 22, 2011, 04:25:48 AM
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I disagree. Now, after bitcoin exchange rate has dropped it is a great time to get some bitcoins really cheap. The market confidence is at the all time low, so after mtgox opens people who lost faith in bitcoin will be dumping their bitcoins which will drive the price low.

I agree. It will be interesting to see what happens to the price of bitcoins when mtgox is back up and running. Definitely some money to be made.
dood001
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June 22, 2011, 04:31:07 AM
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Definitely - I will be waiting for the initial sell, then the buy, then the sell - the old 'dead cat bounce' =my opportunity.
barterfanatic
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June 22, 2011, 04:43:34 AM
 #9

I'm sure there is money to be made.  What I meant was that it's probably not the ideal time to be trying to learn all the ins out outs of how to use this currency when everything is up in the air.  That being said, nothing risked nothing gained. I'm willing to get in there and play a little.
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June 22, 2011, 04:50:15 PM
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A little late, but I've added your site to The Bitcoin List, as promised: http://www.thebitcoinlist.com/listing/barter-fanatic/

Still around.
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