[Ann] Subcoin.com - place to sell Bitcoins

[subcoin]

Hi,
Announcing the launch of www.subcoin.com.
The website that is solely dedicated to purchasing BTC/LTC.
At this time we are not selling or exchanging any coins.
We able to buy BTC/LTC and pay via methods:
- Dwolla (free)
- ACH aka Direct Depost (free)
- Bank Wire (US $20, International $30)
- Serve.com (free)
Our exchange rates are based on BTC-E last price.

Feel free to ask any questions here, but, please, first see the FAQ's

We will be checking out this thread and will try to answer all requests in timely manner.
Additionally, we would ask people to post their feedback about processed transactions.

Thank you
www.subcoin.com
Customer service - Denis and Alina

[Mooshire]

Can anyone give an opinion on this site?

[subcoin]

Yes, I would also appreciate feedback about design/functionality.
I know my design skills are mediocre at best  ... sorry about that.

Hey, Mooshire, nice website - https://inputs.io/ - very Web 2.0!
You wonna try the service and sell some BTC/LTC?

[subcoin]

Alright!
How about this:

Announcing 1 BTC reward to each of the first 5 Full or Hero Members who try the service and post feedback here.  

To receive BTC, please post your address.

[edit] 7/18/13 - by "try the service" I mean to actually process at least the min transaction of 0.1 BTC or 10 LTC (I need to test the actual website engine that automatically checks/processed transactions) [/edit]

[neurobox]

It actually looks rather straight-forward, if one could find their way around bitinstant or any exchange, they can do well here. I'd like to fully participate and offer a full review, but in Canada I can't get a Dwolla or Serve account. The ability to reload an AMEX Serve card would be really handy.

[cptmooseinc]

Going to use a small amount of LTC to make a Dwolla sale in a minute. This is a placeholder that I will edit and update with my results as soon as it's finished. Subcoin, my BTC address is in my signature for you to send the 1BTC to after I make the review. (:

[EDIT]:
Review:

Sent 8.10806096 LTC @ 2:49pm CST. Fully confirmed on the blockchain by 2:56pm CST. Address funds were sent to was http://litecoinscout.com/address/LhsQ9eKC3iax2LDQGijecRKZsR6pwVaxSw

I'm not sure how long the system is set to check for confirmations, but the deposit has 9 confirmations as of this post, whereas the website still only lists the transaction as "Created" with 0 confirmations. It's been 16 minutes since I sent funds now. I've PMed subcoin about it to see why there's such a processing delay. Not worried yet, just figure it might be a bug. It's a small amount of LTC anyway. [/EDIT]

Second Edit:
Again, deposit was started at 2:49CST. Processed at 3:10CST and payment was instant to my Dwolla. Not sure if the system pushed it through automatically or if it had to be pushed through manually by subcoin himself. Either way, I got paid and in an okay amount of time.

Subcoin, I would suggest you try to update things a little faster on the site. Bitcoin confirms are much slower than litecoin, so longer waits are expected. With how fast LTC pushes blocks, 6 confirmations should be had within 10, maybe 15, minutes tops. How many confirms do you require before paying out for your site? Also, I noticed you cannot just "refresh" the transaction on your website. If a transaction is in "Created" mode and moves to "Processing", refreshing that link returns a "No Transaction Found" page. You must go back to the list of transactions and click the new page. Kind of annoying.

To everyone else, site isn't all flashy and new looking, but it seems to work. I would personally use it again for -small- amounts of coin until a longer period of trust has been established by a much larger group of users. Since I got paid, there's no reason to not trust Subcoin (at least for Dwolla withdraws, I can't confirm other methods but may test them out when I get some more LTC), but I wouldn't send more than you can afford to lose.

Not bashing you at all subcoin, but trust is of the utmost importance with these cryptocurrencies. I like what you have offered here, and it's a decent replacement for fastcash4bitcoins.com since they're no longer buying. Keep up the good work and try and work on the things I listed above. Please send 1 BTC to my BTC address in my signature. ^_^

-Moose

[subcoin]

Hi neurobox,
I'd think, Serve would work for Canada, but I'm not positive.
What other payments methods are there in Canada?
Do you have ACH (aka Direct deposit)?


We won't be doing Paypal any time soon.
I have some really painful memories from last time I've dealt with them...

Thanks
Denis

[subcoin]

Hi Moose,
Yes, I have already sent you the $22.62 via Dwolla *8754
Indeed the transaction has already 10 confirms, but not showing in our system.
Troubleshooting it now. Should be cleared through the system in a few minutes.

Your 1 BTC reward is on it is way

[neurobox]

While my local bank supports ACH, the same approach is used for PAP withdrawals. If I were inclined to open an account solely for receivables, I'd be more open to trying it. Also if I had enough BTC on hand to make it worthwhile, it would certainly be the quickest way to go.

[subcoin]

Hi Moose,
The 1 BTC reward is sent - Confirmed
Thank you! I was trying to send you back the PM with info, but forum is limiting my replies to 1 per 360 seconds...

...
Neurobox
RE: "ACH"
I'm pretty sure any Canadian bank should be able to accept ACH
(since they are the part of North American ACH system?)
We could definitely try some small payment on existing account.
I'm not sure if it would be worth the effort for you try open the new account just for that, though.

[neurobox]

I'd like to suggest the likes of Western Union... You can send online, the ~$5 fee is not unmanageable, and there's no messing around with sensitive bank account numbers. You offer that, I'm all over it.

[subcoin]

Hi Neurobox,
I've setup an account on Western Union. Everything seems to be pretty straight forward.
However, their fees are not $5 (that's only for $50 and within US)
Their fees depend on the amount and the "speed" of payment.

For $500:
Instant pick up at the location - $45 fee
1-3 days & pick at the location - $10 fee
3 day ACH & pick at the location - $10 fee

Additionally, they will require some personal information about the receiver before I could start sending.
Needed info: Receivers fist name, last name, city, state,
ID type (drivers license, passport, state ID card, government ID, alien ID), ID issuer, ID number.

I have not yet integrated all this into subcoin.com - working on some bugs that Moose found, first.
But if you wish we can do small transaction and see how it goes.
You will have to send me the receiver's info via PM.
I suggest 3 day ACH payment for $10.

[subcoin]

Hi Bitcoin Megastore,
Yes, in light of recent "crack-downs" on Bitcoin businesses in US.
From the legal point of view, we decided to organize it in Russia.
So, it is hosted and being ran from there.
I have dual citizenship in US and Russia.
And would not have any problems being an American business,
if not for draconian regulations by the government.
Thank you for you understanding.
Denis

[subcoin]

@Bitcoin Megastore, understood. I have exactly the same problem!

I am looking at adding WU right now. But it doesn't look easy.
Many fields need to be added to the database to store WU-related info.
I hope, it will be done in a few days.
Also, I'm not sure, if BTC/LTC users will be willing to share such personal info
as names, location, identification numbers...
All of which are required for me to send the payment.

[cptmooseinc]

@Subcoin

Those who don't wish to share that information don't have to choose the WU option then. (: They give up their identity anyway when they accept Dwolla or ACH withdrawals. Users of your site will most likely be legit people who need to cash out mining profits, gambling winnings, etc. Anyone who might be using more illegal services (such as SR) will either use something like LocalBitcoins or cash in the mail services to avoid giving up too much identity information.

[farlack]

Hi neurobox,
I'd think, Serve would work for Canada, but I'm not positive.
What other payments methods are there in Canada?
Do you have ACH (aka Direct deposit)?


We won't be doing Paypal any time soon.
I have some really painful memories from last time I've dealt with them...

Thanks
Denis

You're going to get screwed over a lot with serve, if the other party for what ever reason needs to validate them self, they freeze both accounts until that person validates them self.

[Mooshire]

Hello subcoin, would love to help, but unfortunately, I am under the age of 18, and though I don't like regulation, I'd rather not have my funds frozen by someone 

I can however offer some feedback on your website. First of all, maybe a background that doesn't look like wallpaper i'd find in a retirement home 

Other than that, i'm of no use to you haha. Don't use paypal, and don't get screwed over by idiots. Good luck with your website!

[subcoin]

farlack,
Thank you for you advice about Serve.com
From now on I will require people to be verified before sending money via Serve.com.
Besides, receivers won't be able to withdraw from Serve.com without being verified anyway.
However, once verified, users automatically get Amex ATM card that could be used
pretty much in any ATM in the world - very convenient.

Mooshire, thanks for your feedback.
We'll do something about the background 

[DiamondCardz]

I decided to test the "Bitcoin" and "Litecoin" options.

First impressions

The site looks basic, but is not as horribly coded as some BTC sites. It could use a bit of tweaking to make prettier, though.

I like the Volatility percentage, quite nice to see it there, as well as the price changes. I typed 10 into the "Sell Bitcoins" field, and was instantly given a quote:

Code:

Your BTC sales quote

Effective Conversion Rate: 87.999
BTC Amount: 10.00000000
USD Amount: $879.99

Please login to your account to place your order.

Very nice!

Making an account

I went to https://www.subcoin.com/join.php and made an account. Sure enough, the signup worked fine, although the PIN could be improved. Maybe allow the PIN to contain letters and numbers? (Limit the characters, ofc, and force numbers or letters+numbers, we don't want people to use their passwords or "woof")

Sellin' dat BTC/LTC

Like I said above, I was given a quote. However, when I typed in 10 LTC on the LTC field and asked for a quote, DESPITE new accounts having a max transaction size of 100 LTC, this error popped up:



That's not too good! Might want to fix that.

The same thing happened on a 1 BTC quote. And a .9 BTC quote.

Eventually, I went to the proper page rather than the glitchy home page (fix that, please!), and I got put through!



I clicked to place my order, and was given a deposit address:



I stopped there, 'cuz I don't have any LTC on me at the moment, and I can't withdraw anyway (<18!).

Final rating: 7/10

Just needs a little bit of touching up, subcoin, and you'll have a nice site.

Also, misspelling: It's profile!  



This amazing review is sponsored by 1Diaz9Nhs8d8GEXcwTJQKDkwzKj34UH2r4

[subcoin]

Hi DiamondCardz,
Thank you for amazing review.
I have sent you 1 BTC (1Diaz9Nhs8d8GEXcwTJQKDkwzKj34UH2r4) as a reward for effort.

The home page ordering was kind of an afterthought.
Because initially I've created the order page and assumed that people would order from there.
That page, https://www.subcoin.com/my_new_order.php, has been tested in and out.
Later realized that I had to put something on the home page and decided the form to start the order.
When user is logged in - home page does nothing more than redirect to order page.
It would seems it's missing some needed variables when redirecting.
Thanks for finding this bug!

I have given away 3 BTC's so far.
1 to Moose (aka cptmooseinc); 1, pending for neurobox; 1 to DiamondCardz.

There are still 2 for grabs for Full+ members.
Would anybody else like to try service and receive the reward?