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Author Topic: [ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace  (Read 125855 times)
DannyHamilton
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March 24, 2013, 02:12:17 AM
 #401

Get buyers to leave a small deposit?

I'm meeting up for cash exchange.  How do I collect the deposit before I meet with them?

I suppose if they already have some bitcoin and just want more bitcoin, they can send a bitcoin deposit?  That seems awkward.

I understand that no-shows are just going to be a part of the process, but it would be nice if we could leave feedback warning others.  Then If someone contacts me for bitcoin and I see multiple feedback comments stating that they were a no-show, I can let them know that I expect them to travel to me based on their history. I won't make arrangements to meet somewhere that they claim is convenient for them.
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March 24, 2013, 02:42:27 AM
 #402

Get buyers to leave a small deposit?

I'm meeting up for cash exchange.  How do I collect the deposit before I meet with them?

I suppose if they already have some bitcoin and just want more bitcoin, they can send a bitcoin deposit?  That seems awkward.

I understand that no-shows are just going to be a part of the process, but it would be nice if we could leave feedback warning others.  Then If someone contacts me for bitcoin and I see multiple feedback comments stating that they were a no-show, I can let them know that I expect them to travel to me based on their history. I won't make arrangements to meet somewhere that they claim is convenient for them.
+1

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March 24, 2013, 04:51:50 PM
 #403

I understand that no-shows are just going to be a part of the process, but it would be nice if we could leave feedback warning others.  Then If someone contacts me for bitcoin and I see multiple feedback comments stating that they were a no-show, I can let them know that I expect them to travel to me based on their history. I won't make arrangements to meet somewhere that they claim is convenient for them.

I guess as an option after 'cancel deal' you could leave standardized feedback, with an option of

. No show
. Did not have enough funds
. Turned out to to be IRS employe
. Free text field.

Bad customers would of course get around the problem by creating a new account each time

But I guess it mostly happens when people shop around, they place an order today at EUR 55 / BTC, then agree to meet you in
two days for payment. Then tomorrow, they place an order during the EUR 40 / BTC dip and decide to go with that seller. And don't bother to cancel you earlier appointment
DannyHamilton
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March 24, 2013, 06:51:09 PM
 #404

I guess as an option after 'cancel deal' you could leave standardized feedback, with an option of

. No show
. Did not have enough funds
. Turned out to to be IRS employe
. Free text field.

Yes, that would help a lot.

Bad customers would of course get around the problem by creating a new account each time

True, at least it would inconvenience them a bit, but not very much.

But I guess it mostly happens when people shop around, they place an order today at EUR 55 / BTC, then agree to meet you in
two days for payment. Then tomorrow, they place an order during the EUR 40 / BTC dip and decide to go with that seller. And don't bother to cancel you earlier appointment

My ads specifically state that I am willing to do the transaction at the exchange rate at the time of the transaction, and I offer exchanges at MtGox "Ask" price, with no commission/fee.  I highly doubt they are finding a better deal anywhere else.  They are probably just curious about the process and thinking about the possibility of owning some bitcoin.  They probably aren't thinking about the fact that they are dealing with a real person who has other things to do, and that they are being quite inconsiderate as they try out the process without any real commitment to an actual purchase.  Much like a person might walk into a shop to look around, and then leave without purchasing anything.
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March 24, 2013, 07:59:37 PM
 #405

I'm getting a little tired of buyers that make contact with me, offer to purchase bitcoin, agree on a time and location to meet, and then never show up.

It costs me time and money (gasoline) to drive to the meeting location and wait around for someone who never shows.

Why don't they show up? Because the price has dropped?

If that's the case, why not make the price on the spot instead of using the locked-in price?

EDIT: Sorry, just read you're offering that.

What jerks to not even cancel the deal and just not show up...

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DannyHamilton
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March 24, 2013, 09:05:10 PM
 #406

I'm getting a little tired of buyers that make contact with me, offer to purchase bitcoin, agree on a time and location to meet, and then never show up.

It costs me time and money (gasoline) to drive to the meeting location and wait around for someone who never shows.

Why don't they show up? Because the price has dropped?

If that's the case, why not make the price on the spot instead of using the locked-in price?

EDIT: Sorry, just read you're offering that.

What jerks to not even cancel the deal and just not show up...

I agree.  I've actually had more no-shows than actual deals.

Equally frustrating is that when someone agrees to a deal denominated in fiat, and agrees to using the spot price at the time of the deal, there is no way to leave feedback letting others know that they are trustworthy and reliable.  I can't use the LocalBitcoins.com "escrow" service on a floating price if the customer wants a specific fiat value of bitcoin (example: if they want exactly $100 worth of bitcoin regardless of exchange rate).  So after the deal is done, I have to cancel it on LocalBitcoins.com and can't leave any feedback.

So there are several great customers that continue to have 0 feedback, and several unreliable imbeciles that have the same feedback.
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March 24, 2013, 09:31:38 PM
 #407

With the exchange rate being so volatile we need a way to making sell orders that lock in the formula, but not the actual exchange rate, until the funds are released.
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March 24, 2013, 09:33:36 PM
 #408

With the exchange rate being so volatile we need a way to making sell orders that lock in the formula, but not the actual exchange rate, until the funds are released.


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March 24, 2013, 09:53:37 PM
 #409

With the exchange rate being so volatile we need a way to making sell orders that lock in the formula, but not the actual exchange rate, until the funds are released.

yes, +1. It's been suggested before and I think kangasbros was not opposed.

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March 24, 2013, 10:58:32 PM
 #410

I'm getting a little tired of buyers that make contact with me, offer to purchase bitcoin, agree on a time and location to meet, and then never show up.

It costs me time and money (gasoline) to drive to the meeting location and wait around for someone who never shows.

Why don't they show up? Because the price has dropped?

If that's the case, why not make the price on the spot instead of using the locked-in price?

EDIT: Sorry, just read you're offering that.

What jerks to not even cancel the deal and just not show up...

I agree.  I've actually had more no-shows than actual deals.

Equally frustrating is that when someone agrees to a deal denominated in fiat, and agrees to using the spot price at the time of the deal, there is no way to leave feedback letting others know that they are trustworthy and reliable.  I can't use the LocalBitcoins.com "escrow" service on a floating price if the customer wants a specific fiat value of bitcoin (example: if they want exactly $100 worth of bitcoin regardless of exchange rate).  So after the deal is done, I have to cancel it on LocalBitcoins.com and can't leave any feedback.

So there are several great customers that continue to have 0 feedback, and several unreliable imbeciles that have the same feedback.

Same here. I don't ever want to lock a price or use the escrow, so I will always have 0% feedback. If my trading partner is on OTC too, then my linked ratings on LB will pick up their rating.

Saying that you don't trust someone because of their behavior is completely valid.
DannyHamilton
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March 25, 2013, 12:10:34 AM
 #411

Same here. I don't ever want to lock a price or use the escrow, so I will always have 0% feedback. If my trading partner is on OTC too, then my linked ratings on LB will pick up their rating.

Yeah, unfortunately none of the trading partners I've dealt with so far have been on OTC.  It's mostly newbies just trying to figure out how to simply get some bitcoins and avoid some of the fees and hassle of BitInstant.

I understand that LocalBitcoins needs a way to earn revenue, so I can see why they would require a payment (such as the escrow fee) to participate in their rating system.  It would be nice though if I could pay a small fee for a membership that allows me to provide feedback when I don't use escrow.
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March 26, 2013, 09:11:09 PM
 #412

I've made a post in the Scandinavian subforum about fraudsters buying bitcoins on localbitcoins using money obtained by fraud. If you are from Sweden, this should interest you: https://bitcointalk.org/index.php?topic=158882.0 (in Swedish).

Skude.se/BTC - an easier way to request your daily free coins!
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March 28, 2013, 02:30:49 PM
 #413

So is there a way to block contact from people?

I get a lot of timewasters, but I've just had contact from "braddy74" from Streatham (South London, UK) asking to do a bank transfer... for the 6th time, and 4 of those times were in the past 24 hours.

My advert clearly states I will only do cash deals in person, and each time I have to cancel and reply asking them to read the advert properly... the person seemingly ignores this.
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March 28, 2013, 03:42:30 PM
 #414

Quote
Yeah, unfortunately none of the trading partners I've dealt with so far have been on OTC.  It's mostly newbies just trying to figure out how to simply get some bitcoins and avoid some of the fees and hassle of BitInstant.

I understand that LocalBitcoins needs a way to earn revenue, so I can see why they would require a payment (such as the escrow fee) to participate in their rating system.  It would be nice though if I could pay a small fee for a membership that allows me to provide feedback when I don't use escrow.
The same for me: I did many good trades on localbitcoins and I still have 0 feedback  Undecided  Im not on otc.
There should be a better rating system.

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March 28, 2013, 04:08:46 PM
 #415

Quote
Yeah, unfortunately none of the trading partners I've dealt with so far have been on OTC.  It's mostly newbies just trying to figure out how to simply get some bitcoins and avoid some of the fees and hassle of BitInstant.

I understand that LocalBitcoins needs a way to earn revenue, so I can see why they would require a payment (such as the escrow fee) to participate in their rating system.  It would be nice though if I could pay a small fee for a membership that allows me to provide feedback when I don't use escrow.
The same for me: I did many good trades on localbitcoins and I still have 0 feedback  Undecided  Im not on otc.
There should be a better rating system.

+1

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March 29, 2013, 04:09:46 PM
 #416

I sell online via neteller.
I get a lot (LOT) of people opening an escrow for the max amount (5BTC), marking it as paid - but never pay.
I don't know if I should attribute this to the stupidity of people or if that many people really assume they will automatically get 5BTC this way.

So I'd like to leave feedback (negative) in these cases, since it REALLY bugs me to get a dozen "marked as paid" SMSs a day.
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March 29, 2013, 05:17:07 PM
 #417

Quote
Yeah, unfortunately none of the trading partners I've dealt with so far have been on OTC.  It's mostly newbies just trying to figure out how to simply get some bitcoins and avoid some of the fees and hassle of BitInstant.

I understand that LocalBitcoins needs a way to earn revenue, so I can see why they would require a payment (such as the escrow fee) to participate in their rating system.  It would be nice though if I could pay a small fee for a membership that allows me to provide feedback when I don't use escrow.
The same for me: I did many good trades on localbitcoins and I still have 0 feedback  Undecided  Im not on otc.
There should be a better rating system.

If you're fine with paying a fee, why not just use the escrow?
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March 29, 2013, 06:56:47 PM
 #418

I don't know if I should attribute this to the stupidity of people or if that many people really assume they will automatically get 5BTC this way.

It is a numbers game.  Eventually someone won't know how the site works, and will click the wrong thing and send funds.   Easy money, if you are doing it from a Internet cafe in some developing country.


So I'd like to leave feedback (negative) in these cases, since it REALLY bugs me to get a dozen "marked as paid" SMSs a day.

Now that needs to be made possible to do.

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March 29, 2013, 07:41:23 PM
 #419

I don't know if I should attribute this to the stupidity of people or if that many people really assume they will automatically get 5BTC this way.

It is a numbers game.  Eventually someone won't know how the site works, and will click the wrong thing and send funds.   Easy money, if you are doing it from a Internet cafe in some developing country.
The number of numbers is TOO DAMN HIGH, tho.

So I'd like to leave feedback (negative) in these cases, since it REALLY bugs me to get a dozen "marked as paid" SMSs a day.

Now that needs to be made possible to do.
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March 29, 2013, 10:38:35 PM
 #420

Quote
Yeah, unfortunately none of the trading partners I've dealt with so far have been on OTC.  It's mostly newbies just trying to figure out how to simply get some bitcoins and avoid some of the fees and hassle of BitInstant.

I understand that LocalBitcoins needs a way to earn revenue, so I can see why they would require a payment (such as the escrow fee) to participate in their rating system.  It would be nice though if I could pay a small fee for a membership that allows me to provide feedback when I don't use escrow.
The same for me: I did many good trades on localbitcoins and I still have 0 feedback  Undecided  Im not on otc.
There should be a better rating system.

If you're fine with paying a fee, why not just use the escrow?

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.

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