[Invest] Need 1 BTC to start IRL money exchanges

[spdrmang]

I should start by saying that i don't know when i will be able to pay back.

I need 1 btc (value doesn't matter) in order to prove and show a technophobic owner of a large foreign currency exchange chain owner in the middle east how bitcoin works, what are the transaction fees and which withdrawal fees are associated with cashing out.

The idea is simply to make him and his associates understand and see for their eyes how the process works as they are skeptic.
After that and if they are happy, setup a system for calculating exchange prices, automatically trading and easily buying/selling btc to and from people visiting the exchange places.

If it all works out well i will be happy to return the btc and/or its parts to whoever is generous enough to help me out here,
and besides i think that a large chain of foreign currency exchange accepting BTC as coin might even move the price up a bit anyways 

Thanks

1JdF4WDjTSvv9oR9xRXuhTK6mWv71qP1pm

[cp1]

Would you settle for 0.5 BTC?

[spdrmang]

Yeah i guess, mainly need to show and explain the process, check out the fees associated with sending and withdrawals, and later do some tests if I launch a system for them.

If everything works out well I'm sure I'll be able to pay back once they start working with BTC

[spdrmang]

Anyone?

Would it help if i pay back a part every week?

[KWH]

Anyone?

Would it help if i pay back a part every week?

It would help if you had collateral. Also you could do that with a very small amount.

[NLNico]

Not sure if trolling or very bad scam attempt.

But just in case... You know you can buy fractional bitcoins for like 2 dollars worth and still show them how a transaction works, right?

[spdrmang]

Its the withdrawal fees that concerns them, they want to see what ends up in the bank after cashing out 1 btc, and based on that they will have to calculate how much they can sell/buy btc at, considering the amount of time it takes to confirm and the amount of value that might change.

Regarding scam - I mentioned in the 1st line that I'm not sure if and when i can pay back, but 1 btc or 0.5 btc wont make me rich you know...
I do expect at least 10k USD of income if they are convinced, and in such case ofc i wouldn't have a problem paying back.
If i did want to scam i would say yeah sure I'll pay back in a week blah blah blah and just disappear obviously...

I guess that i could buy 1 btc from my own pocket but I don't know if everything will go smooth or how long it will take to get things moving which is the main problem for me right now.

I can also pay back in LTC or convert LTC to BTC once a week but it depends on the interest rate...

[flower1024]

just use testnet?

regarding fees: just ran a simulation on the current confirmed and unconfirmed tx.
the problem is this: many people depositin real small amounts (say smaller 0.0001) and then somebody wants to cashout 2btc. if the big transaction can only made using very small inputs it will result in a very large fee

[spdrmang]

otrkid70 - like i said they are technophobic and not young.
Our relationship is more friendly than business - They know me for my past work in the IT (mostly PT and security related) industry and see me as someone who knows what he is talking about.

Fact is I'm very new to Bitcoin and reading heaps of information about it these days.
But all the reading in the world wont help me convince anyone as apposed to real life demos and sums that end up in the bank after trading.


flower1024 - That sounds like a good idea but it doest really apply to real-life transactions does it?




Off topic question - If a foreign currency exchange with over 180 branches starts excepting BTC as a coin, do you think it will effect the prices in any way?

[spdrmang]

If so then why didn't anybody do it yet?
I hope I'm not missing something, it could be really painful if I am 

[cp1]

Could you take 1 Doggy coin?

[NLNico]

If so then why didn't anybody do it yet?
I hope I'm not missing something, it could be really painful if I am  

You are missing the fact that the bitcoin community is full of scammers that steal money. And your request looks awfully much like a scam attempt. Without any collateral or even proof you will probably not get a single satoshi.

I guess that i could buy 1 btc from my own pocket but I don't know if everything will go smooth or how long it will take to get things moving

Shouldn't that be part of your "investigation" ?

[flower1024]

flower1024 - That sounds like a good idea but it doest really apply to real-life transactions does it?

use testnet to "test" different user behaviour and the effect on your wallet
use current blockchain to get an estimate what is currently(!) accepted.

i've heard on exchange saying that it had to pay a > 5btc fee: BUT this is a few years ago.

i used mtgox to collect my dust and i can imagine other people use "online wallets" (which most exchanges are) to do the same. i would be concerned about fees too if i would ran some kind of online wallet (which i wont ever do )

EDIT: btw you can always talk to a mining-pool to always include your transaction and pay them some monthly fee. mtgox did (does?) this with eligius.

[Tomatocage]

Fuck off, faggot (not that there's anything wrong with that)

[cp1]

If you have to say "not that there's anything wrong with that" then you should choose another word, like scammer.

[TheCatLife]

Its the withdrawal fees that concerns them, they want to see what ends up in the bank after cashing out 1 btc, and based on that they will have to calculate how much they can sell/buy btc at, considering the amount of time it takes to confirm and the amount of value that might change.

Regarding scam - I mentioned in the 1st line that I'm not sure if and when i can pay back, but 1 btc or 0.5 btc wont make me rich you know...
I do expect at least 10k USD of income if they are convinced, and in such case ofc i wouldn't have a problem paying back.
If i did want to scam i would say yeah sure I'll pay back in a week blah blah blah and just disappear obviously...

I guess that i could buy 1 btc from my own pocket but I don't know if everything will go smooth or how long it will take to get things moving which is the main problem for me right now.

I can also pay back in LTC or convert LTC to BTC once a week but it depends on the interest rate...

Scammer.

Why are you asking for a loan if you can afford to do all this yourself?

"I'd like a loan to show these guys how Bitcoin works (because as business owners they are clearly ignorant of such things as wikipedia and the internet in general) - I can afford it myself, but I'd prefer a loan.  Btw, I plan to repay this loan."

You have to repay the loan.  As in, why not just buy it yourself to begin with..  So you don't have to pay somebody back exactly what you can already afford to buy.

[flower1024]

he is not really a scammer because he already said that he may not pay back (so i dont consider this a loan at all).

and i got a little bored about all the scam accusations: a technical discussion is way more fun

[phazon307]

I'd like a loan because I am poor as crap I work at a pizza place for crying out loud, trying to learn Web Development and am currently learning JavaScript. I can not pay back right away but I will put the money to get use. I also would pay you back double of what you lend at the max a years time. This is not a scam attempt this is an honest to goodness attempt at getting some help in life as we all know life doesn't give anything away for free and there are those who try but don't get any where my wallet address is: 17EVBp6iYoxZXgVgA7L79d6sk3m6c41miq

[spdrmang]

Thats amusing lol
Thanks for the 0.44 - I hope to come back in a month just to say 'I told you so'.

Dunno who sent this but please pm me you address !
Once again thank you..!

[phazon307]

Dude your the same fkn scammer that was here before you fkn low life POS your original post has you asking for money then you show another post claiming someone sent you BTC. Nobody is going to believe this and your story is more full of crap than grand central station. Instead of trying to scam people out of their bitcoins why don't you go get employment and buy your own. People like you are disgusting and have no care for others and I hope nobody and I mean nobody is stupid enough to fall for your scam. Look at your trust rating that says it all. Keep it up and maybe they can ban you from this forum the people here would be much better off without low life scammers.