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Author Topic: Just had a Shady Cash for BTC talk  (Read 1017 times)
Beef Supreme
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March 30, 2014, 08:30:36 PM
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So, I have been using Local Bitcoins for a couple weeks now, just want to trade in person.  But, NOTHING.  Not one single offer to buy/sell Bitcoins and my prices are the best compared to the others.

This is very weird.  Almost like I am living in some limbo world where the only Bitcoiner is myself and Pat Byrne.

I contacted an ad that had the phone number in listing, and it said "text first." It took the person an hour to answer the text, I would respond, then another awkward 30 minutes would go by.  The guy ended up asking me if I ever bought from him before.  I said no, then NOTHING. 

What the hell?  You know what it felt like texting this seller?  Like I was buying a bag of weed from a dealer I don't know.  It had a weird, shady ass vibe.  Like I was doing something that IS NOT PERFECTLY LEGAL.

Are all cash for BTC transactions like this?  Why does Bitcoin have this shady feeling?  When trading I feel like I am playing Texas Hold'em (Gox flushed me on the river card), and trading in person feels like I am buying dope.
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March 30, 2014, 08:39:43 PM
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bitcoin is better than drugs
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March 30, 2014, 08:41:06 PM
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They are definetly not all like that.  Waiting a while for a first response is always standard but I have never had a shady transaction.  The seller in my area got robbed and beat up on his way home from a large transaction along with every other seller since so we don't have any here now.  That may be somewhat of the situation also in your area.  There is also some law enforcement tension right now because stories are spreading but I beleive that it was a single instance of major money laundering.

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March 30, 2014, 08:50:49 PM
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So, I have been using Local Bitcoins for a couple weeks now, just want to trade in person.  But, NOTHING.  Not one single offer to buy/sell Bitcoins and my prices are the best compared to the others.

This is very weird.  Almost like I am living in some limbo world where the only Bitcoiner is myself and Pat Byrne.

I contacted an ad that had the phone number in listing, and it said "text first." It took the person an hour to answer the text, I would respond, then another awkward 30 minutes would go by.  The guy ended up asking me if I ever bought from him before.  I said no, then NOTHING.  

What the hell?  You know what it felt like texting this seller?  Like I was buying a bag of weed from a dealer I don't know.  It had a weird, shady ass vibe.  Like I was doing something that IS NOT PERFECTLY LEGAL.

Are all cash for BTC transactions like this?  Why does Bitcoin have this shady feeling?  When trading I feel like I am playing Texas Hold'em (Gox flushed me on the river card), and trading in person feels like I am buying dope.


Free market.  Find another dealer that you can feel comfortable with.

It may have been someone that is paranoid because they are sitting on a large amount of bitcoin from illegal activities.

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March 30, 2014, 09:18:43 PM
 #5

You have to think about how many people in your area deal with bitcoin. Then think about how many buy and sell all the time. Or use coinbase etc.

 
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Beef Supreme
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March 30, 2014, 10:48:55 PM
 #6

They are definetly not all like that.  Waiting a while for a first response is always standard but I have never had a shady transaction.  The seller in my area got robbed and beat up on his way home from a large transaction along with every other seller since so we don't have any here now.  That may be somewhat of the situation also in your area.  There is also some law enforcement tension right now because stories are spreading but I beleive that it was a single instance of major money laundering.

You are right, got in touch with another guy after dealing with the first weirdo, and it was better than expected.  Agreed to meet me in the location of my choosing, and showed up quickly and on time.

It was a very friendly transaction.  He even showed me how to use the localbitcoins escrow thingy.

I showed up with my cold storage QR code in hand looking like an idiot.   Roll Eyes

What a relief! 

Beef Supreme
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March 30, 2014, 10:54:34 PM
 #7

One more thing, how anonymous is localbitcoins? 

I was thinking, errantly, that I would show up with cash, and then the seller would send me coins to a QR code of my choosing. 

However, it just went from their localbitcoin account to mine.  So, that is easy to track, given they have my verified phone number.

I thought one advantange of localbitcoins was to pay a little extra for increased anonymity???
MiningSensei
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March 31, 2014, 12:28:29 PM
 #8

One more thing, how anonymous is localbitcoins? 

I was thinking, errantly, that I would show up with cash, and then the seller would send me coins to a QR code of my choosing. 

However, it just went from their localbitcoin account to mine.  So, that is easy to track, given they have my verified phone number.

I thought one advantange of localbitcoins was to pay a little extra for increased anonymity???


Don't make the account in your name??  If you have a fresh wallet address then the one that you send it to is anonymous and the  trail ends with the seller.

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