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Author Topic: [WTB] BTC 2% below spot  (Read 608 times)
arbitrage001
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May 30, 2013, 03:43:36 PM
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Will send you payment via Check or Dwolla.

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ScottJD
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May 30, 2013, 04:37:25 PM
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No bank transfer or such?
arbitrage001
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May 30, 2013, 06:48:01 PM
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Domestic wire (US) costs around 18 dollars and international wire costs 30 dollars. Unless you are selling large amount, you will have to pay these fee.


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May 30, 2013, 07:48:05 PM
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I'll sell large order of btc for $1k-3k for preferably cash in the mail, overnight shipping.
I have great rating on here, otc, and localbitcoins.
I'd like you to send first or we can go through escrow.

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Phnx818
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May 30, 2013, 07:59:00 PM
 #5

I have about 50 BTC that I would like to sell. Are you interested in that volume?
arbitrage001
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May 30, 2013, 08:10:53 PM
 #6

The reason I can do 2% below spot is the implied low risk.

When I receive bitcoin from seller, I will sell it on the exchange for around 1% fee (I only do large withdraw to reduce withdraw fee, this reduce my operation cost which indirectly pass the saving to seller) and send seller either check, dwolla or bank transfer knowing I have the same amount of money on the exchange.

The value of bitcoin goes up and goes down very quick. As we speak, the price of bitcoin has already gone down more than 1.5%. If I have to send first before receiving any coin, my operation would have high implied risk and 2% fee (around 1% is already taken by exchange and withdrawal fee not counted) won't justified my business model.

 
As far as trust goes, seller can check my Ebay feedback on how I handle refund and missing shipment.

arbitrage001
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May 30, 2013, 08:16:20 PM
 #7

I have about 50 BTC that I would like to sell. Are you interested in that volume?


Yes. I can do that volume. You do understand you need to send first to my wallet. I will sell at mtgox and send you back whatever price I get from Mtgox (minus 2% fee).


What kind of payment do you take?
dbanga85
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May 30, 2013, 10:35:44 PM
 #8

I have about 50 BTC that I would like to sell. Are you interested in that volume?


Yes. I can do that volume. You do understand you need to send first to my wallet. I will sell at mtgox and send you back whatever price I get from Mtgox (minus 2% fee).


What kind of payment do you take?

LOL.

Buy Low Sell HIGH is the Motto...
arbitrage001
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May 30, 2013, 11:17:09 PM
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It isn't hard to check block chain on my wallet and see what kind of transaction I have done.
arbitrage001
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May 30, 2013, 11:18:52 PM
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Beside, if trust is an issue, one can break one transaction into multiple smaller one.

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