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Author Topic: Exchange Methods  (Read 13953 times)
The Madhatter
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March 23, 2010, 03:03:49 AM
 #21

Add this to the 'cons list' for cash:

- Possibility of RFID imbedded into the bills. They could be read by the machines at your local post office and throw a red flag on the destination address.
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satoshi
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March 23, 2010, 05:35:34 PM
 #22

LR and Pecunix have many established exchanges to paper currencies by various payment methods, and a number of vendors accept them as payment, so an exchange link between Bitcoin and LR/Pecunix would give us 2nd-hop access to all that.  The possibility to cash out through them would help support the value of bitcoins.

Bitcoin has unique properties that would be complementary.  LR/Pecunix are easy to spend anonymously, but hard to buy anonymously and not worth the trouble to buy in small amounts.  Bitcoin, on the other hand, is easy to get in small amounts anonymously.  It would be convenient to buy LR/Pecunix with bitcoins rather than through conventional payment methods.

Most customers who convert to LR to buy something would probably ask the seller first if they accept Bitcoin, encouraging them to start accepting it.
The Madhatter
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March 23, 2010, 08:43:26 PM
 #23

I already tried to ask a lot of existing exchangers if they would trade BC, they all said "no".

Perhaps this will change with more demand and adoption.
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July 12, 2010, 10:46:10 AM
 #24

There is a massive gold prospector community in my country that sells gold nuggets on ebay.com.au

Someone purchases a gold nugget and puts the mailing address as my post office box and then receives bitcoins in return.

 Grin
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July 12, 2010, 09:41:35 PM
 #25

There is a massive gold prospector community in my country that sells gold nuggets on ebay.com.au

Someone purchases a gold nugget and puts the mailing address as my post office box and then receives bitcoins in return.

 Grin

It seems that the nuggets can vary quite a lot in price.
$1,290 AUD for 31.1 g
http://cgi.ebay.com.au/48-Australian-gold-nuggets-total-weight-31-1-grams-/270605077888?cmd=ViewItem&pt=AU_Metalware&hash=item3f0151cd80

$5.50 AUD for 0.06 g
http://cgi.ebay.com.au/NATURAL-CLEAN-AUSTRALIAN-SOLID-GOLD-NUGGET-0-06grams-/270599831814?cmd=ViewItem&pt=AU_Bullion&hash=item3f0101c106


How much BTC do you have to exchange for nuggets?

Also, have you thought of a website listing the reputable sellers you want to buy from (i.e. you know they are not selling fool's gold) and the price/gram you want to pay so that scouts could make money buying these nuggets for you?

I have heard that the easier it is to participate in a transaction the more people will be attracted.

What do you think?
Anonymous
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July 13, 2010, 03:59:46 AM
 #26

There is a massive gold prospector community in my country that sells gold nuggets on ebay.com.au

Someone purchases a gold nugget and puts the mailing address as my post office box and then receives bitcoins in return.

 Grin

It seems that the nuggets can vary quite a lot in price.
$1,290 AUD for 31.1 g
http://cgi.ebay.com.au/48-Australian-gold-nuggets-total-weight-31-1-grams-/270605077888?cmd=ViewItem&pt=AU_Metalware&hash=item3f0151cd80

$5.50 AUD for 0.06 g
http://cgi.ebay.com.au/NATURAL-CLEAN-AUSTRALIAN-SOLID-GOLD-NUGGET-0-06grams-/270599831814?cmd=ViewItem&pt=AU_Bullion&hash=item3f0101c106


How much BTC do you have to exchange for nuggets?

Also, have you thought of a website listing the reputable sellers you want to buy from (i.e. you know they are not selling fool's gold) and the price/gram you want to pay so that scouts could make money buying these nuggets for you?

I have heard that the easier it is to participate in a transaction the more people will be attracted.

What do you think?


This would be the ideal solution.However ebay already has excellent rating and feedback systems in place.I dont want to reinvent the wheel.Someone with a 100 per cent rating on ebay would be a fool to sell fool's gold and wreck their reputation.As no reputation system yet exists for Bitcoin we have to use already existing systems for the purpose.

This has to start somewhere however and the wrinkles will be ironed out.If there is massive demand for this service I intend to approach gold dealers to strike a better deal for bitcoin customers.They will become preferred sellers over time.The amount of BTC I have to exchange for nuggets or gold/silver will be a factor of how much people buy through the bitcointo service.I hope it achieves equilibrium and there are bitcoins coming in and flowing out.

Then again there is always the carrier pidgeon to bitcoin method I was thinking about  Cheesy

Hey that is not as silly as it sounds!
ArslanKhalid
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March 09, 2014, 06:54:18 PM
 #27

1.)  Methods mentioned previously on the forum, along with their pros and cons.
2.)  New ideas including ones that are "outside of the box"
3.)  As a customer, which method do you prefer?  What is more important to you?  Anonymity, security, convenience or other?
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