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Author Topic: [ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace  (Read 95360 times)
chrisrico
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March 29, 2013, 11:05:40 PM
 #421

Because the escrow fixes the price. If price rises until I meet the person, I make a bad deal (I cannot restock because I can't be sure the customer will show up). If price falls, customer might just not show up, which is also undesirable.

If I could use a formula (like in the ad) for the price, I would use the escrow.


Ah, there is that. Lately I've just been making clear that the exchange rate is locked for better or worse from the time of contact, and then buying coins at that price on Coinbase.
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molecular
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March 29, 2013, 11:36:59 PM
 #422

Because the escrow fixes the price. If price rises until I meet the person, I make a bad deal (I cannot restock because I can't be sure the customer will show up). If price falls, customer might just not show up, which is also undesirable.

If I could use a formula (like in the ad) for the price, I would use the escrow.


Ah, there is that. Lately I've just been making clear that the exchange rate is locked for better or worse from the time of contact, and then buying coins at that price on Coinbase.

So if the price drops and the customer is a no-show you've made a pretty bad move.

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March 30, 2013, 06:28:51 PM
 #423

Are there any statistics available for Localbitcoins? i am interested in knowing how many trades, how much BTC/GBP and whether it is buy's or sell's are happening in my locale (UK).

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March 31, 2013, 02:05:26 AM
 #424

Are there any statistics available for Localbitcoins? i am interested in knowing how many trades, how much BTC/GBP and whether it is buy's or sell's are happening in my locale (UK).

hey taxman, FUCK OFF!

EDIT: :-)

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March 31, 2013, 03:35:59 AM
 #425

Are there any statistics available for Localbitcoins? i am interested in knowing how many trades, how much BTC/GBP and whether it is buy's or sell's are happening in my locale (UK).

localbitcoins can guess how many people I met to trade via them but I did not report to them any numbers on how much we actually exchanged. Actually we only met to drink coffee and talk bitcoin. Seriously.

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March 31, 2013, 10:15:09 PM
 #426

Are there any statistics available for Localbitcoins? i am interested in knowing how many trades, how much BTC/GBP and whether it is buy's or sell's are happening in my locale (UK).

Because an offer can stay published even after a successful trade of it occurs, even tracking the number of offers doesn't show how many trades or at what amounts in aggregate occurred. 

Currently there sequential number for offers is at 8030:
 - https://localbitcoins.com/ad/8030

The rate of growth of that number can give a rough picture of the growth rate trend, but few other conclusions from that metric can be made.

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April 01, 2013, 02:10:26 AM
 #427

Are there any statistics available for Localbitcoins? i am interested in knowing how many trades, how much BTC/GBP and whether it is buy's or sell's are happening in my locale (UK).

Because an offer can stay published even after a successful trade of it occurs, even tracking the number of offers doesn't show how many trades or at what amounts in aggregate occurred. 

Currently there sequential number for offers is at 8030:
 - https://localbitcoins.com/ad/8030

The rate of growth of that number can give a rough picture of the growth rate trend, but few other conclusions from that metric can be made.


Even that is not too trivial as new features as internet trade should have a drastic damping effect on the increase in this number.

Ricochet
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April 04, 2013, 12:48:04 AM
 #428

Is LocalBitcoins having some server errors or something?  I'm trying to add an advertisement to sell a few Bitcoins in my local area, and every time I hit Submit I am greeted with a page saying "Error in form" and the following (personal details blanked out):
http://i.imgur.com/OJWXYW2.png

I've already put the right numbers in, but okay... I'll try it again, putting in the same numbers I put before I clicked Submit.  Same errors.  
http://i.imgur.com/1NWnoFs.png

I read the FAQ and saw that prices were updated every 5 minutes, so I rushed to create the advertisement with as little unnecessary wording as necessary, but it still failed.  (I highly doubted this would work, but it was worth a shot)

I may have explained that poorly, but the end result is that I am not able to create a "selling BTC" advertisement for myself like I have in the past.  I'm just curious if there is a technical reason behind it.

EDIT:  Tried it again with a static value for the sell price rather than one relying on the MtGox API, and it still failed.  "Error in form" is as descriptive as the error message gets.

EDIT 2:  That's not to say that the entire site is broken, absolutely not.  I can still deposit and withdraw Bitcoins to/from my account wallet just fine.  I just can't seem to make an advertisement, that's all.
joeblack
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April 04, 2013, 01:04:24 AM
 #429

Due to the high exchange rate lately I suggest to lower the minimum amount required in the wallet in order to sell on-line using escrow.
kangasbros
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April 04, 2013, 10:25:07 AM
 #430

Is LocalBitcoins having some server errors or something?  I'm trying to add an advertisement to sell a few Bitcoins in my local area, and every time I hit Submit I am greeted with a page saying "Error in form" and the following (personal details blanked out):
http://i.imgur.com/OJWXYW2.png

I've already put the right numbers in, but okay... I'll try it again, putting in the same numbers I put before I clicked Submit.  Same errors.  
http://i.imgur.com/1NWnoFs.png

I read the FAQ and saw that prices were updated every 5 minutes, so I rushed to create the advertisement with as little unnecessary wording as necessary, but it still failed.  (I highly doubted this would work, but it was worth a shot)

I may have explained that poorly, but the end result is that I am not able to create a "selling BTC" advertisement for myself like I have in the past.  I'm just curious if there is a technical reason behind it.

EDIT:  Tried it again with a static value for the sell price rather than one relying on the MtGox API, and it still failed.  "Error in form" is as descriptive as the error message gets.

EDIT 2:  That's not to say that the entire site is broken, absolutely not.  I can still deposit and withdraw Bitcoins to/from my account wallet just fine.  I just can't seem to make an advertisement, that's all.

It is complaining about the minimum value. The minimum value can't be zero. I'll try to make the message clearer.

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April 05, 2013, 02:39:51 PM
 #431

can someone tell me their experience with trade online at localbitcoins?

Is it safe with the escrow service? How does the buyer prove he paid me? or vice versa?

I'm skeptical to send any btc.
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April 05, 2013, 02:43:34 PM
 #432

can someone tell me their experience with trade online at localbitcoins?

Is it safe with the escrow service? How does the buyer prove he paid me? or vice versa?

I'm skeptical to send any btc.
Localbitcoins gives the buyer a confirmation code to verify the seller has released the bitcoins, they also give the a confirmation code the seller can text to them when the buyer has paid. It works like this:

1. Buyer presents the cash.
2. Seller texts his confirmation code to Localbitcoins.
3. Localbitcoins replies with the buyer's confirmation code.
4. Seller shows confirmation code to the buyer.
5. Now the buyer knows his bitcoins have been released.
DannyHamilton
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April 05, 2013, 04:40:13 PM
 #433

can someone tell me their experience with trade online at localbitcoins?

Is it safe with the escrow service? How does the buyer prove he paid me? or vice versa?

I'm skeptical to send any btc.
Localbitcoins gives the buyer a confirmation code to verify the seller has released the bitcoins, they also give the a confirmation code the seller can text to them when the buyer has paid. It works like this:

1. Buyer presents the cash.
2. Seller texts his confirmation code to Localbitcoins.
3. Localbitcoins replies with the buyer's confirmation code.
4. Seller shows confirmation code to the buyer.
5. Now the buyer knows his bitcoins have been released.

You are describing the cash exchange (face-to-face) "transaction service", not the online "escrow service".

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
barbarousrelic
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April 05, 2013, 08:20:33 PM
 #434

can someone tell me their experience with trade online at localbitcoins?

Is it safe with the escrow service? How does the buyer prove he paid me? or vice versa?

I'm skeptical to send any btc.
Localbitcoins gives the buyer a confirmation code to verify the seller has released the bitcoins, they also give the a confirmation code the seller can text to them when the buyer has paid. It works like this:

1. Buyer presents the cash.
2. Seller texts his confirmation code to Localbitcoins.
3. Localbitcoins replies with the buyer's confirmation code.
4. Seller shows confirmation code to the buyer.
5. Now the buyer knows his bitcoins have been released.

Why would a buyer trust your confirmation code rather than just look at his wallet? There are plenty of places with public Wifi that people can meet to trade Bitcoin.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
chrisrico
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April 05, 2013, 08:24:13 PM
 #435

Localbitcoins gives the buyer a confirmation code to verify the seller has released the bitcoins, they also give the a confirmation code the seller can text to them when the buyer has paid. It works like this:

1. Buyer presents the cash.
2. Seller texts his confirmation code to Localbitcoins.
3. Localbitcoins replies with the buyer's confirmation code.
4. Seller shows confirmation code to the buyer.
5. Now the buyer knows his bitcoins have been released.

Why would a buyer trust your confirmation code rather than just look at his wallet? There are plenty of places with public Wifi that people can meet to trade Bitcoin.

Because the buyer is given the confirmation code in advance, and the seller is only given it after they release the funds.
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April 05, 2013, 08:25:06 PM
 #436

Why would a buyer trust your confirmation code rather than just look at his wallet? There are plenty of places with public Wifi that people can meet to trade Bitcoin.
All of the people I've sold bitcoins to via this method were buying for the first time, and weren't carrying around their laptop with them. The SMS-based notification works really well for them.
2weiX
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April 12, 2013, 11:15:22 AM
 #437

Is there a possibility to implement a fixed fee?

I'd like to sell at mtgoxEUR_ask+10€.

Of course, this should be convertible into any currency:

(mtgoxUSD_ask+10USD)*USD_in_AUD
or something.

kangasbros
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April 12, 2013, 08:22:44 PM
 #438

Is there a possibility to implement a fixed fee?

I'd like to sell at mtgoxEUR_ask+10€.

Of course, this should be convertible into any currency:

(mtgoxUSD_ask+10USD)*USD_in_AUD
or something.



It is one of the more requested features, but it would require quite lot of work. We are currently understaffed, so I can't promise it.

We have made upgrade to the feedback system, which hopefully will be a delight to some: http://localbitcoins.blogspot.com/2013/04/feedback-system-overhaul.html

DannyHamilton
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April 12, 2013, 08:27:11 PM
 #439

- snip -
We have made upgrade to the feedback system, which hopefully will be a delight to some: http://localbitcoins.blogspot.com/2013/04/feedback-system-overhaul.html

The devil is always in the details, but I look forward to trying out this new feedback system.  It sounds like it goes a long way towards resolving some significant issues I was experiencing.  Thank you so much!

The quality of posts has dropped to such a low level that all users who are participating in a paid signature campaign are added to my ignore list. If you'd like a copy of the list to improve your browsing experience, you can find it here: https://bitcointalk.org/index.php?topic=973843.0 (Updated 2016-1-4)
2weiX
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April 12, 2013, 09:10:08 PM
 #440

Is there a possibility to implement a fixed fee?

I'd like to sell at mtgoxEUR_ask+10€.

Of course, this should be convertible into any currency:

(mtgoxUSD_ask+10USD)*USD_in_AUD
or something.



It is one of the more requested features, but it would require quite lot of work. We are currently understaffed, so I can't promise it.

We have made upgrade to the feedback system, which hopefully will be a delight to some: http://localbitcoins.blogspot.com/2013/04/feedback-system-overhaul.html

actually, this actually works.
mtgoxUSD_ask*USD_in_EUR+10
gives the ask plus 10€

awesome.
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