Bitcoins Direct Support Thread

[TangibleCryptography]

Important announcement effective 31 May, 2013:

https://bitcointalk.org/index.php?topic=224057

This thread has been locked.
If you have a pressing support issue please send an email to info@tangiblecryptography.com

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[rhino56]

Excellent to deal with, traded MP for BTC. Looking forward to using his service again. Great trader A+

[TangibleCryptography]

Excellent to deal with, traded MP for BTC. Looking forward to using his service again. Great trader A+

+1 to rhino56.  Fast and Easy trade.

[AmpEater]

Delivered as promised, although I wish the process didn't involve so much blind trust.

Thanks!

[TangibleCryptography]

Delivered as promised, although I wish the process didn't involve so much blind trust.

Thanks!

Solid trade by AmpEater. 

It can be nerve racking dealing w/ irreversible funds but unfortunately one party has to take the risk.  We believe the significant volume we have done makes us a reliable and trusted counterparty.

[Immuzikation]

+1 Smooth, no-hassle transaction.

[TangibleCryptography]

+1 Smooth, no-hassle transaction.

Immuzikation is a nice guy.   I made a mistake (rare for me but happens) but he hung in there and we got the deal done.
+1 for Immuzikation for seeing the deal through and not freaking out when something unexpected happened.

[Snowpea]

you guys should set up chase/citi accounts so you can use the fund transfer options!

[TangibleCryptography]

Offer a 0.5% bonus for next 24 hours on purchases funded through the cash deposit option. Ended.

We have both BTC and MtGoxUSD.  Buyer's choice.

[KajiMaster]

Awesome service.  My first bitcoin purchase and was every bit of the perfect experience you could ask for!  I now have my connection for all future bitcoin purchases. +1

Edit:
Should note I paid with MoneyPak.

[TangibleCryptography]

Awesome service.  My first bitcoin purchase and was every bit of the perfect experience you could ask for!  I now have my connection for all future bitcoin purchases. +1

Edit:
Should note I paid with MoneyPak.

I believe this is Kaji first Bitcoin purchase.  Went very easy.  Nice when traders follow instructions and have reasonable expectations.  Would trade again.  +1

[TangibleCryptography]

Attention Buyers:

Effective immediately we will no longer be purchasing MtGox codes or holding funds on the MtGox exchange.  We have more than enough MtGox funds to cover all pending purchases if the buyer opts to take delivery of MtGox codes in lieu of BTC.  At buyer's request we will continue offer that as an option until supply is exhausted.  Once it is gone it is gone.

Thank You,

Tangible Cryptography

[AmpEater]

Sent moneypak code, awaiting response

---
EDIT
---

Response received, deal done without a hitch.
Thanks!

[TangibleCryptography]

Update:

MoneyPak funding option temporarily closed.

Get a 1% bonus on Bitcoin purchases (MoneyPak excluded)
Get a 1.25% bonus on MtGoxUSD voucher purchases (MoneyPak excluded and while supplies last)

[¢A$HÅ]

Walmart isn't the only company that sells MoneyPak reloadable debit cards, you know!

https://bitcointalk.org/index.php?topic=15749.msg207307

It's a shame that most exchangers don't accept MoneyPak reloads from clients in exchange for bitcoins. It's pretty much the easiest, cheapest and most anonymous way for the average Joe to give funds to an exchanger in the US.

There is a solution however. Or several of them. You don't have to use GreenDot's crappy cards to accept MoneyPak reloads. You can reload any of the following cards with MoneyPak.

http://www.accountnow.com
http://www.rushcard.com
https://www.mangomoney.com
http://www.bankfreedom.com
https://www.readydebit.com
http://www.upsidecard.com
https://mistarjetas.univision.com
http://www.achievecard.com
http://www.visionprepaid.com
https://www.yapsend.com
https://www.hrblock.com/bank/emerald_prepaid_mastercard/

If that's not enough, just check www.moneypak.com - they have a lot of cards listed.

So, just buy a few of these cards and you can take MoneyPak reloads to your heart's content.

[KajiMaster]

Another A+ purchase with TC!  This time over 2x my first purchase.  I was demonstrating to a friend what bitcoins where last night.  I even demonstrated the process of acquiring bitcoins.  Even after I bought my MP I got to a laptop and TC was online and responded to my e-mail and resolved my request in no more than 20 minutes.  A+++++.  I only hope he stays providing this service.

[Ari]

People have gotten banned by greendot for redeeming a large number of moneypaks.

https://bitcointalk.org/index.php?topic=88435.0

[TangibleCryptography]

1% bonus is currently closed.  We still have some surplus but it will be @ MtGox last till further notice.

[TangibleCryptography]

Due to recent MoneyPak fraud we will be no longer accepting that option.  We are going to suspend it for at least 30 days.  Although we have lost no funds due to MoneyPak fraud and have taken what we believe are appropriate precautions we want to limit the amount of funds we accept until the true risk is known.

In 30 days we will reevaluate this payment option.

[TangibleCryptography]

Added cashier's check option due to client request.  Most banks will issue a cashier's check to persons without an account if you pay with cash.  Overnight mail is a low cost option to get the check to us quickly.  For less than the cost of a bank wire you can go from cash to bitcoins in a about a day.

[TangibleCryptography]

1% bonus is currently closed.  We still have some surplus but it will be @ MtGox last till further notice.

[EPiSKiNG]

+1 for good transaction.

Thanks!
-EP

[TangibleCryptography]

+1 for good transaction.

Thanks!
-EP

Sorry for late reply but solid trade by EPiSKiNG.  Fast & Easy.

[TangibleCryptography]

Demand has been high and as such our surplus of coins has grown.  Until further notice we are selling surplus bitcoins at a 1.25% discount BELOW MtGox last while supplies last.  If interested, act fast. These "coin sales" only last until will sell off our excess supply.

[TangibleCryptography]

Update:
The 1.25% bonus is closed.  If you have a pending deal started before this announcement we will honor the 1.25% bonus.  All new orders will be priced @ MtGox last.

[TangibleCryptography]

SALE SALE SALE  

Our stockpile has grown again. Offering a 1% discount BELOW MtGox last.
This discount (as all of them in the past) is based on our supply.  Get them while they are hot.

Discount ended.

[Joe200]

Do you take ING Person2Person?

[TangibleCryptography]

Do you take ING Person2Person?

No sorry just the methods listed above.  We are working on getting a deposit account at WellsFargo.

[TangibleCryptography]

Update:
The 1.00% discount has ended.

All new orders will be priced @ MtGox last.

[dave3]

I purchased some bitcoins via wire transfer from Tangible Cryptography, and can recommend them if you need to buy some coins.

[someone703]

Damn, too bad I didn't notice this thread beforehand.

Had someone back out on me for a transaction so I lost out on like 1.5 weeks (and the price of BTC has shot up a good chunk).  And then now I've been waiting about a week for Bank > Dwolla transfer.

Supposed to clear this afternoon and then a wait for Dwolla > Mt.Gox.

Will definitely be keeping this thread in mind for the future.

[dave3]

I don't know if they're always this fast, but my entire transaction from the first time I contacted Tangible Cryptography until I had the bitcoins in my wallet (including the time it took my bank to process the wire transfer) was completed within one business day.

I somehow lucked out and locked in the price just before it took a bit of a jump up, too. 

[TangibleCryptography]

Roughly a month ago we stopped accepting GreenDot MoneyPaks as a funding option pending an internal review.  After some deliberation we have decided to no longer accept GreenDot MoneyPaks going forward.  We were never defrauded the issue is simply scale.  MP to PayPal is useful but that is limited to only $4K per month.  MP to credit cards has limited value for us and if we attempt to get cash that incurrs a high cost.  We now have over $100,000 worth of Bitcoins to sell each month.  MoneyPak simply doesn't scale.   If GreenDot allowed us to become a MP merchant we could accept MP and get daily ACH deposits however that is unlikely to happen given GreenDot hostility towards Bitcoin.  

[rjk]

We stopped accepting GreenDot MoneyPaks as a funding option roughly a month ago pending a review.  We have decided to no longer accept them.  We were never defrauded the issue is simply scale.  MP to PayPal is useful but that is limited to only $4K per month.  MP to credit cards has limited value for us and if we attempt to get cash that incurrs a high cost.  We now have over $100,000 worth of Bitcoins to sell each month.  MoneyPak simply doesn't scale.   If GreenDot allowed us to become a MP merchant we could accept MP and get daily ACH deposits however that is unlikely to happen given GreenDot hostility towards Bitcoin. 

Isn't this where Bitinstant steps in with a pre-made Greendot intermediary, all set up and ready to go? Yessir, all wrapped up in a tidy package for you, they will take the Moneypaks, and send you an ACH to disburse to your customers as you see fit. For a fee, of course.

If not them, someone needs to do it.

[DeathAndTaxes]

Isn't this where Bitinstant steps in with a pre-made Greendot intermediary, all set up and ready to go? Yessir, all wrapped up in a tidy package for you, they will take the Moneypaks, and send you an ACH to disburse to your customers as you see fit. For a fee, of course.

If not them, someone needs to do it.

I don't think so.   In our talks with GreenDot they simply prohibit anything to do with Bitcoin even indirectly.  We spoke at length with a sales agent.  At first he was skeptical of the demand.  I indicated we would be looking at hundred grand the first month and probably double that (as FC4B is supply limited).  When he seemed to indicate we were unrealistic I offered to open our books subject to an NDA.  I was also willing to guarantee 5000 transactions in the first 90 days and pay GreenDot the difference (i.e. up to $25,000) if they didn't materialize.  I think I made the offer as generous as possible even indicating we would consider things like a discount rate (MoneyPak merchants normally don't pay a fee), a fraud reserve (depsite MoneyPak being sold to merchants as a low risk option), and limiting our acceptance to $250 or less per Pak (to give GreenDot a bigger cut).  We went back and forth but GreenDot is just completely adamant (and unreasonable IMHO) about having absolutely nothing to do with Bitcoin.  Period.  We were even "creative" looking at potential solutions where MoneyPak would be use to fund a "cash card account" which then could be used to buy digital goods (to include bitcoins).  Nope.  They aren't interested.  If Bitcoin is anywhere in your proposal (even in the small print at the bottom) it is an auto-rejection.  I think I convinced the sales agent though.  Bitcoin is going to move mainstream and companies which embrace that (like ZIpZap) will profit indirectly and companies that don't (like GreenDot) will be shut out.

Now we (or someone else) could form a shell company, lie to GreenDot about the purpose of the merchant account (selling golfballs or whatever) then use that company to funnel Bitcoin sales.  We have no interest in that and I am sure BitInstant doesn't either.  GreenDot merchant agreement also prohibits third party transactions so we won't be seeing a general purpose TrustCash or ZipZap type middle man for GreenDot MoneyPaks.

It is their loss but sadly it did waste a significant amount of our time.  It could have been extremely profitable for both us AND GreenDot.

[rjk]

Well that's a shame, and pretty much a major fail. Did they indicate whether it was due to fraud or whether it was due to legal uncertainties? And no, I'm not recommending that anyone attempt to skirt the ToS if they don't even want intermediaries touching their system.

[TangibleCryptography]

SALE SALE SALE  

Our stockpile has grown again. Your direct buy price is 1% BELOW MtGox last.
This discount (as all of them in the past) is based on available supply.  Get them while they last.

Discount ended effective 07/20/2012 19:28 EST

[opentoe]

The "cash deposit at local branch" way. How long is that process? Once I send you what I want, how long does it take for you to reply with the banking / deposit information? Then once I make the deposit, email you the proof that you require, how much longer is the wait there? Also, your company is only doing this now because you have a surplus in coin? How does that work? How can you actually have a surplus in money? Once your surplus is over, does that mean you will no longer support this service for people? Thanks!

[Cobra]

The "cash deposit at local branch" way. How long is that process? Once I send you what I want, how long does it take for you to reply with the banking / deposit information? Then once I make the deposit, email you the proof that you require, how much longer is the wait there? Also, your company is only doing this now because you have a surplus in coin? How does that work? How can you actually have a surplus in money? Once your surplus is over, does that mean you will no longer support this service for people? Thanks!

Speaking from experience the whole process is complete in a couple of hours. It is a very easy and painless process. They have a "surplus" in BTC at the moment because it is part of their business model. Due to the recent high value of BTC many people are cashing out their BTC which is their "sister service" https://bitcointalk.org/index.php?topic=90192.0 They need to maintain high balance in USD because that is where the demand has been with people requesting the other service. It takes a very long time to convert BTC back to USD going through an Exchange so selling BTC this way speeds the whole process up and really kills 2 birds with one stone, helps them by getting USD faster and helps customers so they do not need to deal with an Exchange which is desirable due to increased time/risk. This will still be available in the future but not at the 1% discount, it is just a motivator to help get rid of the coins this way.

1. Send an email to info@tangiblecryptography.com using PGP (encrypted email) and they will send you the required banking information
2. Follow the instructions in their reply email to deposit cash at local bank branch.
3. Take photo of deposit receipt and email it to them and provide wallet address to receive your coins
4. Wait for your coins, after sending the photo of the receipt I had my coins within a couple of hours. The MTGOX last price is used based on the timestamp of the deposit receipt (when discount available 1% less).

[TangibleCryptography]

Cobra explained it pretty well.  If you have any further questions just let us know.

What we mean by "surplus" is that coins availability is not guaranteed.  If coins are available we will sell them to you.  We buy over 2,000 BTC per day as part of the FC4B service so we probably can handle any order but we just ask you send us a PM or email first.

[TangibleCryptography]

The discount has ended.  Right now we have a large number of pending sales in progress, so even if you have purchased in the past, please don't make the assumption that coins are available.  Send us a PM/email before depositing funds.

[opentoe]

I used TangibleCrypto today to buy some bitcoin and everything went smooth and nice. I had my bitcoin quickly at my address. I would definitely use their service again to buy bitcoin.

[phantitox]

Awesome service, 100% Recommended super fast and secure +1

[TangibleCryptography]

Raised the minimum to $500 on all methods except cash deposit ($200 minimum).

[dirtydiego]

great service. The second time I've used. I had $800 of btc transferred today. Very quick service! Trustworthy service here!!!!

[Stephen Gornick]

Raised the minimum to $500 on all methods except cash deposit ($200 minimum).

Including Liberty Reserve?  Still shows:

Liberty Reserve Instructions
Amounts: $100 to $5,000

[TangibleCryptography]

Raised the minimum to $500 on all methods except cash deposit ($200 minimum).

Including Liberty Reserve?  Still shows:

Liberty Reserve Instructions
Amounts: $100 to $5,000

Good catch.  Updated to reflect $500.

Thank You

[TangibleCryptography]

Demand has been high and we have to many coins and not enough dollars.  Until further notice we are selling surplus bitcoins at 1.00% BELOW MtGox last while supplies last.  If interested, act fast. These periodic "coin sales" only last until will balance our supply.

[TangibleCryptography]

Updates:

Deposits at any Wells Fargo branch are coming "soon".  I just need to go in person to sign the deposit agreement.  Thread will be updated once deposits are available.

The 1% periodic sales are now permanent.  That is right we will sell 1% below MtGox every day and never charge a fee.

We are adopting the name "Bitcoins Direct" for this service.  A website to facilitate higher sales volume is coming.  Slightly further off we are partnering with a third party vendor to make buying bitcoins fast and easy (in the United States).

[TangibleCryptography]

Our Wells Fargo account is complete.

Tangible Cryptography is happy to announce that starting Monday (08/10) clients will be able to deposit at any Bank Of America or Wells Fargo branch. This now gives our clients over 13,500 locations to purchase Bitcoins.   As usual there are no fees and we will continue to offer coins at 1% below the MtGox price.  Instructions for making a deposit are available in the first post.

[ripper234]

I recently made a nice deal with TC, they have excellent service.
Price locks + 1% discount + no hassle = WIN.

[ravithepimp]

Have sent more than $1k to tangible. Great guys. Always quick and helpful, and no one can beat no fees. +5

[TangibleCryptography]

Wells Fargo deposits are active.  This roughly doubles the number of deposit locations nationwide to ~13,500.   If you live in the United States and have no local branches of Wells Fargo or Bank Of America send us a PM with your zipcode.  We want to ensure every buyer can buy Bitcoins Direct.

[TangibleCryptography]

Attention:

Starting Aug 20th, 2012 we will be raising the minimum amount on bank deposits to $500.  This puts it in line with the minimum for our other deposit methods which already have a $500 minimum. Roughly 95% of our clients deposit more than $500 and they makes up more than 98% of total funds deposited.   Raising the minimum allows us to keep this a "wholesale" operation and provide the customized service and support our clients has come to expect.   In September we intend to introduce an automated method to enable sales between $50 and $500.  

If you would like more information please sign up here:
http://launch.bitcoinsdirect.net/

Thank you for your understanding,

Tangible Cryptography

[evlew]

Awesome service.  Thanks again!  Will use again.

Although the $500 minimum will make it tough!

[Bjork]

+1 to this service, promptly received coins.  Would buy again.

[Charlie Prime]

Starting Aug 20th, 2012 we will be raising the minimum amount on bank deposits to $500.

Well crap.  That knocks me out of your customer base until September.

How frequently do you email your newsletter?

[2weiX]

looking to (very probably, very few other options pending) buy around 1000 coins monday morning US time (noonish CEST) via Moneygram.

would you also accept EUR or do you require cashout in USD?

[TangibleCryptography]

Sales temporarily suspended.  We have exceeded our available supply. 
We expect to be able to resume direct sales within a few day.

Thank You

Management
Tangible Cryptography

[aznjack31]

Sales temporarily suspended.  We have exceeded our available supply. 
We expect to be able to resume direct sales within a few day.

Thank You

Management
Tangible Cryptography

I'm glad I got some bitcoins from you before you halted sales. Anyways I had my coins within a few hours of confirmation. Thanks for being patient with me and the encryption emails. It was a little difficult to get started but when you understand it, it's easy.

[TangibleCryptography]

Update:
Bitcoins available for sale again.
We added OKPay as funding method.

[ninjaboon]

Update:
Bitcoins available for sale again.
We added OKPay as funding method.

Lovely service. I will add your btc purchase method on my site. It's useful for a Malaysian like me as the Western Union option is available in my city. Kudos.

[Chang Hum]

Hi I'd like to purchase some Bitcoins with you, sent you a PM about it.

Thanks

[exdirrk]

Have set up my first purchase and sent the money.  Seller was very easy to communicate with and I will update after receiving the coins.

edit:  Received my coins after only an hour.

[TangibleCryptography]

A quick heads up we are experiencing very high volume right now.
We ask for your understanding on any delays in responding to requests or verifying deposits.

We will get you your coins as quickly as possible.

Thank You,
Staff Tangible Cryptography

[Stephen Gornick]

Accepted Deposit Options:

• Cash deposit at any Bank Of America or Wells Fargo branch

Both of those institutions support ClearXChange (which is like PopMoney), where transfers end up going through as ACH, but where funds are drawn instantly  and notification to the recipient is real-time.
 - https://www.clearxchange.com/payments/home

Is this a method you would accept for payment?
[/list]

[sunnankar]

Both of those institutions support ClearXChange (which is like PopMoney)

clearXchange Facts
The first U.S. P2P payment network created by banks
Equally owned by Bank of America, Chase, and Wells Fargo
Formed May 2011
Lets customers of member banks send and receive P2P payments from their current online or mobile banking service
Lets customers of non-member banks receive P2P payments directly to their own bank accounts after a simple one-time signup through this site.

Real funny!

[TangibleCryptography]

Accepted Deposit Options:

• Cash deposit at any Bank Of America or Wells Fargo branch

Both of those institutions support ClearXChange (which is like PopMoney), where transfers end up going through as ACH, but where funds are drawn instantly  and notification to the recipient is real-time.
 - https://www.clearxchange.com/payments/home

Is this a method you would accept for payment?
[/list]

I don't think so.  I get the feeling they don't support business accounts.  I may be mistaken but I see no way to signup online nor any way to send funds using this option from our bank of america account.  We can't use BofA or Wells Fargo instant transfers to send or receive funds from other BofA or Wells Fargo customers either.

I will send a message but given the amount of money the big banks make in wire and ACH fees I doubt they have any reason to give that up anytime soon.  Our small company pays over a thousand dollars a month in banking fees.  Major corporations easily pay a hundred times more.

[Stephen Gornick]

clearXchange Facts
The first U.S. P2P payment network created by banks
Equally owned by Bank of America, Chase, and Wells Fargo
Formed May 2011
Lets customers of member banks send and receive P2P payments from their current online or mobile banking service
Lets customers of non-member banks receive P2P payments directly to their own bank accounts after a simple one-time signup through this site.

Real funny!

Heh, wasn't trying to be.  Though ACH networks are a joke as far as the risk you take due to reversals and fraud, so I can understand why hardly any exchanges accept them (even BitFloor stopped accepting PopMoney not too long ago).

But Dwolla is not much better and there are a few exchanges that take Dwolla yet.

[laststop]

I'm very interested in using your service. I hear PNV bank deposits are in the works. Please notify immediately when PNC bank becomes an option and you will be my go to guy.

[TehZomB]

I'm very interested in using your service. I hear PNV bank deposits are in the works. Please notify immediately when PNC bank becomes an option and you will be my go to guy.

This times 1,000. And if you can include PNC transfer in Fastcash4bitcoins that would be even better!

[TangibleCryptography]

And if you can include PNC transfer in Fastcash4bitcoins that would be even better!

That sadly will probably not happen.  Blame the banks.  Our accounts are business accounts and banks remove the "instant account to account transfer" option from business accounts.  There is no technical or fraud reason to do that but they don't want businesses to stop using other higher cost services (ACH, bank wires, credit cards).  BofA, PNC, WellsFargo, and Chase all have account to account transfers but they block them on business accounts.  You can't even account to account transfer to a business account from a personal account or the reverse.  You will get an error I tried from my personal BofA checking account.

Now Wells Fargo, Chase, and BofA have combined their networks to allow account to account transfers between all 3 banks and you guessed it ... Business accounts are excluded.  Last month we paid $1,238.30 in banking fees.   Monthly fees, transaction fees, ACH fees, bank wire fees, check fees, stop check fees, data fees, and wait for it ... cash handling fees.  Yes even cash has a fee.  

Business accounts subsidize "free checking" offered on personal accounts.  Banks aren't going to give all those fees up.

It is a shame but it likely is never going to happen.

[TehZomB]

Understandable. As much as I appreciate my free PNC account, I knew someone, somewhere was paying for it. Looks like it's you.

Cash deposit works just as well though, it just requires a quick trip to the bank. I can live with using wires for withdrawing.

[laststop]

How does bitfloor accept chase deposits to fund their accounts then? Your buddy deathandtaxes said PNC would be a deposit option soon. So you guys will probably never offer anything but bank of america and wells fargo for forseeable future for deposits to get btc?

[TangibleCryptography]

How does bitfloor accept chase deposits to fund their accounts then? Your buddy deathandtaxes said PNC would be a deposit option soon. So you guys will probably never offer anything but bank of america and wells fargo for forseeable future for deposits to get btc?

I think there is a little confusion here.  TehZomB was talking about "online instant account 2 account transfers".  My response above was regarding instant transfers.

Completely seperate from that we accept cash deposits @ Wells Fargo & Bank Of America.  We will adding a deposit account at PNC soon (they are just being "annoying" about our articles of organization).  We would add Chase but Chase doesn't have a charter in VA and they don't accept out of state businesses.  Adding Chase isn't impossible but it is complicated.  It would require us to register to gain a postal address in a state where Chase operates, register Tangible Cryptography LLC as a foreign corporation with that state and have at least one of the partners travel to the state to open the account.  Or hopefully Chase opens a branch in VA.

[Stephen Gornick]

stop check fees

O.o

cash handling fees.  Yes even cash has a fee.  

Out of curiosity, can you share what the rate for that is?

[laststop]

oh ok. Let us know as soon as PNC becomes available. Its right across the street from chase so either one works for me.

[DeathAndTaxes]

stop check fees

O.o

Nothing like that.  Mail does get lost and customers do misspell their own name.  Small % but you send enough checks you are going to have to stop some of them.

Out of curiosity, can you share what the rate for that is?

Sure it varies by bank but we do most cash out of BofA.  
Their fees are $0.30 per $100 (or fraction of a $100) and $0.30 per tx.  So $0.90 on a $10.01 deposit.  That is one reason we raised our min deposit to $500.00

It is even more expensive for a biz which needs armored car service which tends to run 3x that plus a monthly fee depending on frequency.  When people say "well cash is free" obviously they haven't been part of any business with does a significant volume in cash.  A company like Walmart probably pays 8 figures a year to handle that "free" cash (why do you think they offer cashback for free ) and that doesn't even include the cost of security, robbery losses, and counterfeiting (yeah we pay a monthly fee to have deposits checked in realtime).

If our tx volume keeps increasing we likely will change the account type to an enterprise depository account which has lower fees per unit fees but higher requirements and monthly fees.

[TangibleCryptography]

Update:

Due to the long weekend we are not accepting deposits or pre-funding price locks until Tuesday.  This does not affect any deals currently in progress. 

Thank You,

Staff
Tangible Cryptography

[Severian]

Bitcoins Direct - Private off exchange sales @ 1% below MtGox with no fees.

Buy bitcoins directly from a trusted supplier and skip the delays, fees, and excuses of the major exchanges. From our other ventures we are have a surplus of Bitcoins and we are making them available for private private off exchange sales.

The easiest, quickest bitcoin purchase I ever made with professional courtesy to boot. Thanks, TC!

[moni3z]

With Okpay people can directly send you contact-sys money transfers avoiding Western Union fees to load your Okpay account, or 3rd party bank wires. They have no problems with 3rd party wire transfers.

Can also enable the merchant functions and accept all these methods if you wanted
https://www.okpay.com/en/services/fees-e-currency.html

[DeathAndTaxes]

With Okpay people can directly send you contact-sys money transfers avoiding Western Union fees to load your Okpay account, or 3rd party bank wires. They have no problems with 3rd party wire transfers.

Can also enable the merchant functions and accept all these methods if you wanted
https://www.okpay.com/en/services/fees-e-currency.html

We already accept OKPay you can fund your OKPay account however you like and transfer funds to us.  I am not sure what you are asking.

[jwzguy]

Fast courteous replies, fast service, excellent to deal with. If only every Bitcoin business was run this well. Looking forward to many more great experiences!

[laststop]

yea now that bitfloor gone and they took chase bank im really hoping TC will take PNC soon

[Severian]

If only every Bitcoin business was run this well.

People could take a lesson from TangibleC about how to conduct a business with bitcoin.

This is the obligatory shoutout for another flawless order.

[DeathAndTaxes]

Thank you for the kind words.

If only every Bitcoin business was run this well.

People could take a lesson from TangibleC about how to conduct a business with bitcoin.

This is the obligatory shoutout for another flawless order.

Thank you for the kind words.  We certainly always try to meet the needs of our clients.
Earning trust, one deposit at a time.

yea now that bitfloor gone and they took chase bank im really hoping TC will take PNC soon

We have open and funded a PNC business deposit account but they messed up some of the options which need to be fixed before we can securely accept deposits from the public.  
I have a meeting this afternoon.  We should be accepting PNC deposits "soon". My best guess would be within 1 or 2 days by the end of the week, but when dealing with banks ... well they are banks.

On edit:  Another complication (screw up) by PNC.  Looks like accepting PNC deposits will be pushed back at least 3 business days.  I still hope it will be available by the end of the week.

[StrictlyBusiness]

Email sent I also forgot to ask how long does LR funding take?

[DeathAndTaxes]

Email sent I also forgot to ask how long does LR funding take?

Usually completed within a few hours (can be a few minutes if a partner is online at the time your deposit is made).  However at this time we aren't accepting LR.  The closure of Bitfloor has negatively affected our liquidity and until we get our primary accounts "in shape" we won't be accepting deposits from LR.  I will ensure the first post gets updated to reflect this.

[StrictlyBusiness]

I want to buy lr with bank deposit.

[TangibleCryptography]

I want to buy lr with bank deposit.

We don't sell LR only Bitcoins.

[StrictlyBusiness]

Ok I misunderstood OP, I guessing bitcoin only no mtgox codes right? Worse comes to worse I might be able to make that work for me as well.

[TangibleCryptography]

Ok I misunderstood OP, I guessing bitcoin only no mtgox codes right? Worse comes to worse I might be able to make that work for me as well.

Correct.  Bitcoins only. 

[laststop]

will PNC deposits be active by friday? Need about $1200 of coins

[muyuu]

Has anyone deposited from the UK converting from GBP? International bank wire fees + standard conversion rates would eat up any advantages over exchanges.

Any ideas? There are ways to get much better currency exchange rates than those usually given by commercial banks, but only if you convert enough volume. It would be interesting to set up a channel to GBP and EUR, since there's a significant community already in these markets.

[Stephen Gornick]

Has anyone deposited from the UK converting from GBP?

Any ideas?

There's a Bitcoin conference in London going on right now, you would find a trade there.  

Here's a thread wiith additional GBP methods:

 - http://www.reddit.com/r/Bitcoin/comments/zpe3b/with_intersango_unable_to_transfer_gbp_into_btc/c66sh6j

[muyuu]

Has anyone deposited from the UK converting from GBP?

Any ideas?

There's a Bitcoin conference in London going on right now, you would find a trade there.   

Here's a thread wiith additional GBP methods:

 - http://www.reddit.com/r/Bitcoin/comments/zpe3b/with_intersango_unable_to_transfer_gbp_into_btc/c66sh6j

I know. I live in London and I'm attending. However I'm not talking about getting coins occasionally (I have accounts in a few exchanges) but establishing a channel. 1%  under MtGox and no fees would be the best rates I could find by far.

[chrisrico]

Quick question... once a transaction is completed, are there any records stored? I'm wondering what information would leak in case of a successful hack or law enforcement subpoena.

[TangibleCryptography]

Quick question... once a transaction is completed, are there any records stored? I'm wondering what information would leak in case of a successful hack or law enforcement subpoena.

We do retain transaction records for three years for tax purposes; we are a registered LLC and thus do pay taxes on our profits.  Any entity with transaction volume we have (now aproaching ~$10M on an annualized basis) that doesn't retain records is just begging to be shutdown by the IRS. 

Records are stored in an offline system in an encrypted database.  Offsite backups are also encrypted.  To compartmentalize data, records older than 90 days are purged from the primary database, although they are still retained in on-site and off-site backups.   We will not share information with any third party (including law enforcement) without a warrant or court order.

[TangibleCryptography]

will PNC deposits be active by friday? Need about $1200 of coins

Maybe.  Sorry that is the best I can do.  PNC has just been awful about getting this account setup properly.  The ball is in their court at this point. 

[AsymmetricInformation]

If only every Bitcoin business was run this well.

People could take a lesson from TangibleC about how to conduct a business with bitcoin.

This is the obligatory shoutout for another flawless order.

Agree...obligatory shoutout here as well.

Fast response to messages, deposit, emails etc. This is easily the cheapest and most convenient way to get BTC...simply cant beat a negative-fee, cash bank-deposit transaction. I will be using again in future.

[ChipGeek]

I also have had an excellent transaction with Tangible and plan on using them again in the future.

[TangibleCryptography]

Tangible Cryptography is happy to announce that starting Friday (09/14) clients will be able to deposit at any PNC branch.   The addition of PNC Bank to our deposit accounts with Bank Of America and Wells Fargo gives our clients over 16,000 locations nationwide to purchase bitcoins.  The Bitcoins Direct service will continue to offer secure, private, off exchange sales with no fees and an exchange rate 1% below the 'MtGox last price'.

[samadamsbeer]

I'm thinking to open an account with Bank Of America, Wells Fargo, or PNC Bank branch, just for purposes of purchasing BTC. Does anyone have any suggestions for one vs. the other? It would be not used frequently so would be looking for a no-fee account, no interest I assume. I'm frequently throughout New England, Boston/NH. Would be great if works abroad too.

[TangibleCryptography]

I would point out that aren't required to have a BofA, Wells Fargo, or PNC Bank account to use Bitcoins Direct.  We accept cash deposits at those branches.  The only advantage of having an account with one of the three would be you could withdraw from your account and deposit into our account at the same location.   We also accept bank wire's so it is possible to send funds to our account from any bank if you are concerned about transporting cash.

If you need an account in one of the three for a reason I can't think of the only one offering truly free checking is PNC.  With the other two there are limits (min balance, or direct deposit, or no teller transactions) to get free account.

[samadamsbeer]

My mistake. I had in the back of my mind the fact that I believe Bank of America account holders can transfer money to other Bank of America account holders, I believe free of charge, online. But I think this may be something equivalent to ACH which you don't accept. Otherwise I will endeavor to use your service ASAP!

[TangibleCryptography]

My mistake. I had in the back of my mind the fact that I believe Bank of America account holders can transfer money to other Bank of America account holders, I believe free of charge, online. But I think this may be something equivalent to ACH which you don't accept. Otherwise I will endeavor to use your service ASAP!

BofA does have a feature where you can instantly transfer funds to another BofA account.  This would be a great deposit option but they block it from working on business accounts.  If you try you will get an error.  No technical reason it couldn't work but they don't want to give business accounts free "anything".

[samadamsbeer]

My mistake. I had in the back of my mind the fact that I believe Bank of America account holders can transfer money to other Bank of America account holders, I believe free of charge, online. But I think this may be something equivalent to ACH which you don't accept. Otherwise I will endeavor to use your service ASAP!

BofA does have a feature where you can instantly transfer funds to another BofA account.  This would be a great deposit option but they block it from working on business accounts.  If you try you will get an error.  No technical reason it couldn't work but they don't want to give business accounts free "anything".

Depending on what the fee was, I still would be interested. It would certainly be the convenient armchair option that beats wire transfers or cash deposits. Just need your customers to have accounts in certain banks.

[TangibleCryptography]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)!  

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

[BCB]

+1 TC fast and easy transaction.

Thank you.

[sunnankar]

Banks have small business exactly where they want them.  ... Business accounts are even charged to use cash (no I am not kidding)!  

You may consider Chase as an alternative to BoA. Not that I like Chase much but they at least seem better than BoA. I have an account for one of my simple LLCs and doesn't seem too bad. Got dinged with a fee because they changed how it functions and were not very clear in the documentation. But overall not all that bad.

We charged a monthly service fee to your Chase BusinessSelect Checking account because it did not meet at least one of these criteria during the statement period:   

Maintain an average daily balance of at least      $7,500.00   
Your average daily balance was      $X,XXX.XX   
 
Make Chase Business credit card purchases of at least      $1,000.00   
You spent      $XXX.XX   
 
Pay qualifying checking-related services or fees of at least      $50.00   
You paid      $0.00   
 
Keep an average qualifying deposit and investment balance of      $25,000.00   
Your average qualifying balance was      $X,XXX.XX

[jwzguy]

Another stellar transaction with Tangible Cryptography. Thanks!

[Severian]

Another stellar transaction with Tangible Cryptography. Thanks!

I really wish all bitcoin merchants would take a cue from TC. Never a hitch.

[arabianights]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)!  

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

How about opening a dollar bank account here where I live on the Isle of Man? Obviously business banking still ain't free but it's a hell of a lot cheaper than that!

[TangibleCryptography]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)! 

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

How about opening a dollar bank account here where I live on the Isle of Man? Obviously business banking still ain't free but it's a hell of a lot cheaper than that!

The only thing we have found for non-residents in Isle of Man is magnitudes more expensive (like any offshore location).  We would like an Isle of Man or other SEPA capable account so we could provide similar services for EU clients but the costs are simply prohibitive.    Canada might be a possibility soon. 

[arabianights]

As a resident I can be a silent partner and open the account for ya in return for a tenth of what you're paying per month

(You would need to setup a company over here which again I can help with but after that I have no idea what is involved and it may be prohibitively expensive)

[DeathAndTaxes]

I don't think you understand why our banking fees are so high so that is a promise you can't deliver on. Still even if it were true you don't really think we would still be in business if we setup accounts so an unknown person on the internet in another continent would be the sole signatory on an account containing tens of thousands of dollars of company property?

[2weiX]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)! 

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

How about opening a dollar bank account here where I live on the Isle of Man? Obviously business banking still ain't free but it's a hell of a lot cheaper than that!

The only thing we have found for non-residents in Isle of Man is magnitudes more expensive (like any offshore location).  We would like an Isle of Man or other SEPA capable account so we could provide similar services for EU clients but the costs are simply prohibitive.    Canada might be a possibility soon. 

maybe that polish bank (wbk?) that mtgox and intersango relay their SEPA over?

[aneutronic]

Maybe I wasn't clear, it isn't available to business accounts at any cost.  Bank Of America intentionally cripples that service so it can't ve used to send funds from or to business accounts.  Banks have small business exactly where they want them.  "Free checking" yeah not for businesses.   Transaction fee, deposit fee, withdraw fee, ACH fee, check fee, bank wire fee, monthly fee, account data fee, and every bank's favorite the credit card fees.  Business accounts are even charged to use cash (no I am not kidding)!  

So Bank Of America (and every other major bank) cripples all these instant transfer services to make sure businesses can't bypass their fee empires.  If a customer wants to pay a business the banks want them to use a CC so the bank can get 3% or maybe a bank wire so the bank can collect $10 to $30. IIRC last month we paid almost $2,000 in banking fees and we still can't use instant account transfers.

Have you checked ING? Bitfloor is currently accepting deposits through their customer to customer transfers.

[DeathAndTaxes]

Have you checked ING? Bitfloor is currently accepting deposits through their customer to customer transfers.

Yes.  ING offers no business checking accounts so there is no option for instant payment. We can forward ING payments to our company bank accounts.  We are currently conducting a limited trial.  However understand that is a normal ACH so the standard 3-5 day delay applies, there is nothing "instant" about it.  So it is more like; deposit $x, lock exchange rate, wait 3-5 days, we deliver BTC.

[Bugpowder]

My mistake. I had in the back of my mind the fact that I believe Bank of America account holders can transfer money to other Bank of America account holders, I believe free of charge, online. But I think this may be something equivalent to ACH which you don't accept. Otherwise I will endeavor to use your service ASAP!

BofA does have a feature where you can instantly transfer funds to another BofA account.  This would be a great deposit option but they block it from working on business accounts.  If you try you will get an error.  No technical reason it couldn't work but they don't want to give business accounts free "anything".

That feature is really just for tiny transfers.  $1k limit / day $2.5k / wk.

[TangibleCryptography]

Update:

In all messages to us please include your GPG KEY ID.  We receive a large amount of encrypted communication each day.  Many clients use a GPG key which doesn't match their email address.  Some clients don't include their name in their email and do on the key or include it in their email but not on their key.   We check digital signatures but not all clients sign non-order messages.

It has become tedious and wasteful to attempt to locate the proper key needed to encrypt our responses using a variety of methods (check signature, check name, check email, check prior email history for original key, etc).   If you do not include your KEY ID in every message we will return it asking for the KEY ID.  Your KEY ID is an 8 digit alphanumeric code which identifies your key.  It isn't a secret, think of it as a serial # for your key.   Please make a note of it in your message.  Including your KEY ID in the message text allows us to rapidly look it up.

John Doe

blah blah blah.

Thanks.

Tangible Cryptography (Key ID C26C17CD)

[jborkl]

Excellent transaction with Tangible.  Sent the money, he sent the coins- even helped me set up GPG!

Thanks again

[TangibleCryptography]

Excellent transaction with Tangible.  Sent the money, he sent the coins- even helped me set up GPG!

Thanks again

No problem.  Glad we could help.  Looking forward to more transactions in the future.

[TangibleCryptography]

Update:

The minimum deposit for Bitcoins Direct is $500.00 (five hundred USD).  Lately we have had a rash of smaller deposits in violation of our terms.  Generally we have honored those deposits but it is simply wasting too much of our time.  We also incur additional cost for these small deposits and that raises the cost of business for our legitimate customers.  We have a minimum deposit amount because we process deposits manually.  This is not intended as a real time instant delivery service of small amounts.  For that type of service BitInstant is a trusted vendor. 

Deposits below the stated minimum will be refunded by company check at the depositors cost.   All costs (mailing, printing, and deposit fees) plus a refund fee of $20.00 will be deducted from the deposit amount.   Depositor will be required to provide a payee name and mailing address.  No exceptions will be granted.

[TehZomB]

Hi TC,
Are cash deposits at bank branches processed on Saturdays?

[TangibleCryptography]

Hi TC,
Are cash deposits at bank branches processed on Saturdays?

Yes however most locations have reduced hours on Saturday so check the bank's website for branch hours.

[opentoe]

I have used Tangible a few times to get some bitcoin. Very efficient and quick service. When ever I need bitcoin I'll always use them going forward.

[chrcoe01]

maybe a newb question, but would any trade done be able to be rated within the bitcoin-otc system?  I thought it's a possibility because OTC just refers to off exchange trades.

[Stephen Gornick]

From the FastCash4Bitcoins,com thread:

We are discontinuing OKPAY effective 10/5/2012.  Any existing OKPay orders will be paid as normal.  While there is demand for OKPay the volume simply doesn't warrant the allocation of working capital.  In order to better serve our clients, we will continue to focus on our core deposit methods and reevaluate OKPay in the future.

Does that mean the Bitcoins Direct side no longer accepts OKPay as a funding method too?

[TangibleCryptography]

From the FastCash4Bitcoins,com thread:

We are discontinuing OKPAY effective 10/5/2012.  Any existing OKPay orders will be paid as normal.  While there is demand for OKPay the volume simply doesn't warrant the allocation of working capital.  In order to better serve our clients, we will continue to focus on our core deposit methods and reevaluate OKPay in the future.

Does that mean the Bitcoins Direct side no longer accepts OKPay as a funding method too?

Yes however we have some deals in progress which we will allow but effective 10/08/2012 we will stop accepting OKPay as a deposit method.  We will also no longer be accepting deposits via Western Union and Money Gram.  The reason for dropping WU/MG is different, as our volume continues to increase methods which require manual pickup are simply not scalable.  In order to better serve our clients we intend to refocus on our core fund transfer methods.  A more detailed explanation will be provided on Monday 10/08/2012.

[chrcoe01]

as long as you are able to keep PNC bank deposits, this is something I was looking into the future for me.  For whatever reason, there are absolutely no BofA or Wells Fargo Banking locations nearby (closest is something like 120 miles away!)  PNC on the other hand is right across the street practically!

[laststop]

hey TC, I'm gonna need 500 coming up either thursday or friday next week. I'll let ya know. May need some help with the encryption stuff

[laststop]

OK I figured out gpg. A lot easier than i thought. Is the 1% bonus still goin on?

[TehZomB]

About cash deposits (PNC to be specific):

Will the teller mind if I hand him a deposit slip for TC filled out for $X in cash, and a withdrawal slip from my own account for $X?

[TangibleCryptography]

About cash deposits (PNC to be specific):

Will the teller mind if I hand him a deposit slip for TC filled out for $X in cash, and a withdrawal slip from my own account for $X?

No.  Other clients have done that without issue.

[¢A$HÅ]

So you no longer accept Liberty Reserve, correct?

[TangibleCryptography]

IMPORTANT UPDATE for 10/10/2012:  Due to a potential case of attempted fraud we are temporarily suspending deposits.
No client funds were lost or even at risk.  All existing orders will be paid in full and on time.  Tangible Cryptography LLC suffered no financial loss and will resume sales after a review of our policies and procedures.  Any new deposits received after 17:53 EST will be held until the review is complete..

DO NOT DEPOSIT FUNDS.  DO NOT DEPOSIT FUNDS. DO NOT DEPOSIT FUNDS.  DO NOT DEPOSIT FUNDS.

[laststop]

oh wow 2 days before I needed to buy, god damn i hate scammers ruin it for everyone else. -frustrated-

[chrcoe01]

scammers suck, ruin it for everyone else :/

[AfricanHunter]

Would like to make a purchase and am now downloading the encryption software. Can you give me (by pm if you prefer) instructions on how to get started? Will likely be bofa deposit. Thanks

[TangibleCryptography]

IMPORTANT UPDATE for 10/15/2012 to 10/17/2012: NEW SALES SUSPENDED.
We will be temporarily out of available coins until 10/18/2012.  Multiple large buyers have negotiated over the weekend our entire projected  coinflow for the next three days (~10,000 BTC).  We will resume accepting new deposits starting on Thursday 10/18/2012.  If we acquire more coins than anticipated and fund these orders quicker, this thread will be updated and new sales resumed earlier.

[TangibleCryptography]

To answer some common questions I have gotten this morning:
If you need updated funding instructions you can request them at any time.
If you want to submit a deposit request for 10/18/2012 or later you can do it at any time.

If due to scheduling conflicts you MUST make a deposit prior to 10/18/2012 we will use the exchange rate at the time we transfer your coins on 10/18/2012.  Request a deposit code and in the request use 10/18/2012 as the date.   Make a note that deposit will be made early and you understand the exchange rate will be the rate at the time of the transfer on 10/18/2012.

[laststop]

Is the 1% bonus still goin on? I am going to attempt my gpg message soon here.

[chrcoe01]

better to have you close it temporarily instead of try to sell what isn't there 

[TangibleCryptography]

[UPDATE]
We are lowering the discount on sales to 0.5% below the 'MtGox last price'. 
This applies to all new sales.  Clients who already have obtained a deposit code will retain the older discount rate.

[TangibleCryptography]

Update:
We are out of coins due to the temporary closure of FastCash4Bitcoins.  No exact ETA on when sales will resume but it will be Monday at the earliest.

Thank You,

Staff
Tangible Cryptography

[TangibleCryptography]

Update:

Still out of coins.  Had some power related delays in getting new version of FC4B completed.  We have a lot of unanswered emails/purchase requests in our inbox.  Going through them right now would simply delay work on getting FC4B launched.  So if you sent an email and nobody has responded it isn't personal it just that all efforts are being focused on getting FC4B up and running.   Sales through Bitcoins Direct will resume roughly 24 hours after FC4B is live again.

FC4B status/updates:
https://bitcointalk.org/index.php?topic=90192.msg1304839#msg1304839

[c0dex]

Good luck to you getting everything back up and running - the new FC4B site design looks nice and crisp! 

Just commenting in hopes that maybe all of our collective support & well-wishes will help!

[TangibleCryptography]

Important update:
The new FastCash4Bitcoins site has relaunched today.  There are significant changes to the codebase.  To ensure we have the resources to keep a close eye on FC4B for the first few days, and to avoid any further disruptions we have decided to not to start Bitcoins Direct sales until Monday 11/5/2012.  We will start accepting PO requests beginning Sunday 11/4/2012.  Please don't send requests prior to that as they won't be accepted.  Please don't send emails requesting an exception because it will waste resources which could be spent ramping up volume on FC4B.  A good relaunch of FC4B is very important to ensure we can meet all your future coin needs.  Thank you for your understanding.

Staff

Tangible Cryptography

[c0dex]

has anyone heard back or received replies to their PO requests today?  i'm sure they got slammed with emails.

[TangibleCryptography]

has anyone heard back or received replies to their PO requests today?  i'm sure they got slammed with emails.

We were slammed, sorry the delays.  Only so many hours in the day.  At this point we should be caught up on all responses.

[TangibleCryptography]

Update:

One purchase order per client per day. I have no idea why a small minority of clients want to have deposits split across multiple purchase orders on the same day and honestly I probably don't want to know.  Also please don't change deposit requests after making them, this isn't an exchange where you can post new limit orders in realtime.  The occasional mistake/correction is understandable but today we had four clients change the amount of the purchase order and one changed it three times.  We reserve the right to cancel PO which need a correction rather than issue a corrected PO approval.

Lastly:
Tangible Cryptography LLC reserves the right to deny a purchase order for any reason, at anytime with or without cause.

It is always the 10%.  90% of purchases are cut and dry.  Request, fund, prove, receive coins.  The 10% is likely why I forsee us eventually needing some sort of account verification process just like FC4B.

[TangibleCryptography]

UPDATE:

No further PO will be approved today. As expected due to the shutdown, volume was insane today.  I even dipped into our reserve to funds as many PO as possible.  PO were processed in the order they were received.  If you have already received a deposit code you can make your deposit.  If you have not received a deposit code (i.e. D9999999) then we don't have coins to sell you today.

We will have more coins tomorrow, and the day after, and the day after.

[TangibleCryptography]

UPDATE 11/06/2012:

Out of coins again.  No further PO requests will be approved today.  PO requests can be sent starting 8PM EST for deposits made tomorrow.   Due to demand for this service exceeding our available volume we are changing from a 0.5% discount to a 0.5% fee/markup.  As an example if the MtGox rate at the time of deposit is $10.00 the exchange rate will be $10.05.  This does not affect existing orders (funded or unfunded).  It will apply to all new orders going forward.

Thank You,

Staff
Tangible Cryptography

[peepee]

UPDATE 11/06/2012:

Out of coins again.  No further PO requests will be approved today.  PO requests can be sent starting 8PM EST for deposits made tomorrow.   Due to demand for this service exceeding our available volume we are changing from a 0.5% discount to a 0.5% fee/markup.  As an example if the MtGox rate at the time of deposit is $10.00 the exchange rate will be $10.05.  This does not affect existing orders (funded or unfunded).  It will apply to all new orders going forward.

Thank You,

Staff
Tangible Cryptography

So because you're making more money and have more orders, you're going to charge your buyers a fee instead of keep the discount that had them coming to you in the first place?

Damn.

[Dalkore]

UPDATE 11/06/2012:

Out of coins again.  No further PO requests will be approved today.  PO requests can be sent starting 8PM EST for deposits made tomorrow.   Due to demand for this service exceeding our available volume we are changing from a 0.5% discount to a 0.5% fee/markup.  As an example if the MtGox rate at the time of deposit is $10.00 the exchange rate will be $10.05.  This does not affect existing orders (funded or unfunded).  It will apply to all new orders going forward.

Thank You,

Staff
Tangible Cryptography

So because you're making more money and have more orders, you're going to charge your buyers a fee instead of keep the discount that had them coming to you in the first place?

Damn.

No, I know why this is being done and it is just fine.   With ACH limitations and delays, they need to make sure they are staying on top of their exchange risk.  They are actually providing a very helpful service.

[peepee]

Never said it wasn't helpful.

Just.. damn. A discount is better than a mark up. That's all.

[TangibleCryptography]

So because you're making more money and have more orders, you're going to charge your buyers a fee instead of keep the discount that had them coming to you in the first place?

No.  "exceeding our available volume"

We only have so many coins to sell.  The purpose of BD is to sell off our existing supply of coins.  We acquire coins from various sources and then sell them directly to avoid the delays and cost of exchanges.  

When BD began is represented less than 20% of our daily volume of acquired coins.  It now represents >120%.  It has exceeded our incoming supply, plus absorbed all our "stranded coins" on various exchanges, plus exhausted our internal reserve used to hedge price.  Reluctant to change the pricing which has worked so well we at times took a loss on some sales (having to buy at full price coins from market to sell to buyers at a discount).   The demand for both buying and selling varies however the trend for Bitcoins Direct is taking it past what we can supply.  So in that situation what would you do?  Continue to sell coins to don't have and don't need to sell at a loss?  Or would you raise the price to reduce demand?

If our supply of coins grows we will happily lower the markup or even go back to a discount.  It really just is supply and demand.

Staff

Tangible Cryptography

[peepee]

OIC.

I guess I just don't undestand how you can charge roughly 5% when you buy bitcoins through FC4B and make 4.5% profit when you sell direct through BD and still somehow be at a loss.

Oh well. Damn.

I'll still use your service anyway.

[TangibleCryptography]

OIC.

I guess I just don't undestand how you can charge roughly 5% when you buy bitcoins through FC4B and make 4.5% profit when you sell direct through BD and still somehow be at a loss.

Oh well. Damn.

I'll still use your service anyway.

We don't.  If we did we would be out of biz.   Say FC4B produces 5K BTC per day but demand for BD is 9K BTC per day.  Where do you get the other 4K BTC?  Buy them from a loss on the market?  Double spends?  Getting a little meta here but if a store (any store) continually runs out of product (any product) then the price is too low. 

Currently (and at current price) demand for BD exceeds FC4B (and our other ventures).  Supply and demand.  
The demand for BD exceeds our ability to supply it at the current price point.  By making the price less attractive it will reduce demand and avoid scenarios where we have to post [OUT OF COINS].

TL/DR: Will 0.5% fee be less popular than 0.5% discount?  Of course.  That is whole point!

[peepee]

We don't.  If we did we would be out of biz.   Say FC4B produces 5K BTC per day but demand for BD is 9K BTC per day.  Where do you get the other 4K BTC?  Buy them from a loss on the market?  Double spends?  Getting a little meta here but if a store (any store) continually runs out of product (any product) then the price is too low. 

Currently (and at current price) demand for BD exceeds FC4B (and our other ventures).  Supply and demand.  
The demand for BD exceeds our ability to supply it at the current price point.  By making the price less attractive it will reduce demand and avoid scenarios where we have to post [OUT OF COINS].

TL/DR: Will 0.5% fee be less popular than 0.5% discount?  Of course.  That is whole point!

I was under the impression that when you closed availability, it meant you sold all your coins available (from FC4B). I didn't know you sold some/any at a loss. That's just... silly.

I get what you're saying about s/d. All I really meant was damn.. I liked it when it was a discount. 

[TangibleCryptography]

Update 11/8/2012 - more coins available.

[chrisrico]

Never said it wasn't helpful.

Just.. damn. A discount is better than a mark up. That's all.

When low prices leads to the demand for a good or service being far greater than its supply, the only rational thing for a supplier to do is to raise the price. This allows them to make a greater profit, which in turn allows them to more quickly increase supply to meet demand.

[jwzguy]

Never said it wasn't helpful.

Just.. damn. A discount is better than a mark up. That's all.

When low prices leads to the demand for a good or service being far greater than its supply, the only rational thing for a supplier to do is to raise the price. This allows them to make a greater profit, which in turn allows them to more quickly increase supply to meet demand.

Absolutely correct. What happens otherwise is what's happening right now on Long Island and other areas affected in NYC. It's illegal to raise gas prices, so no one goes to any additional expense to bring in gas through extraordinary means, you have to wait on line for 3-4 hours at the handful of stations that occasionally get fuel, and most people just don't get any gas at all.

[TangibleCryptography]

[CLOSED - OUT OF COINS]
Even with the new pricing demand continues to be strong.  Not taking any new purchase orders at this time.  Should have a better idea of acquiring volume by tomorrow morning.

[DeathAndTaxes]

Update 11/12 - Still out of coins today (and possibly tomorrow).   

We had a large buyer pre-purchase our entire inventory (five figures BTC) for this week.  FC4B is doing volume ahead of projections so we may fulfill this order soon and re-open for general sales.

Yes we can do custom sales more than $5,000.   The use of a bank wire is required and it often requires funding over multiple days.  If interested just send an email to info@tangiblecryptography.com.   Generally speaking we don't allow very large custom sales to new buyers without extensive trading history.

[zebedee]

Update 11/12 - Still out of coins today (and possibly tomorrow).   

We had a large buyer pre-purchase our entire inventory (five figures BTC) for this week.  FC4B is doing volume ahead of projections so we may fulfill this order soon and re-open for general sales.

Wow.  I imagine your use of exchanges is well down on say 2 months ago?

[TangibleCryptography]

Update 11/12 - Still out of coins today (and possibly tomorrow).   

We had a large buyer pre-purchase our entire inventory (five figures BTC) for this week.  FC4B is doing volume ahead of projections so we may fulfill this order soon and re-open for general sales.

Wow.  I imagine your use of exchanges is well down on say 2 months ago?

Yes good observation.  Our exchange volume is down about ~90% despite total volume being close to double what it was 60 days ago.  We may look to expand our LoC which would allow us to hold enough coins to ride out the intra-day imbalances between FC4B and BD; this would allow us to become completely exchange independent.

[TangibleCryptography]

Update 11/13:
Coins available for purchase on 11/14/2012.  We will accept PO for deposits made on 11/14/2012 or later.

[TangibleCryptography]

[CLOSED - OUT OF COINS]

We responded to PO in the order they were received.  We have exhausted our likely supply (based on projections on coins purchased through FC4B and other properties) for the day.  I am not sure where all this demand is coming from, word of mouth?, some third party site/blog/article?, pent up demand?  Anyways it is unusual in that demand continue to exceed our supply.

[TangibleCryptography]

Oh a friendly reminder since for ~1% of clients this seems to be complicated*:

DO NOT UNDER ANY CIRCUMSTANCES DEPOSIT FUNDS INTO ANY ACCOUNT OWNED BY TANGIBLE CRYPTOGRAPHY LLC UNLESS YOUR PURCHASE ORDER HAS BEEN APPROVED AND HAVE BEEN GIVEN A UNIQUE SINGLE USE DEPOSIT CODE (i.e. D1234567).

Unauthorized deposits will be subject to a security hold of 72 hours and then refunded by company check.  You will not receive bitcoins in the event you make an unauthorized deposit.    No exceptions.


* one would think the giant bold red disclaimer on the OP, and in funding instructions would be sufficient, but then one would be wrong.

[BCB]

TC.

This response is coming as a result of the ECB paper.  The ECB paper has marked the beginning of the mainstream's realization of the inevitability of BTC widespread adoption.   These are probably major players getting in off-market to avoid price spikes on the exchange.


Just my 2C.

[TangibleCryptography]

TC.

This response is coming as a result of the ECB paper.  The ECB paper has marked the beginning of the mainstream's realization of the inevitability of BTC widespread adoption.   These are probably major players getting in off-market to avoid price spikes on the exchange.


Just my 2C.

We have noticed some larger sized orders from new clients and the average order size has increased.  Hadn't thought about the timing of the ECB report but it would fit with the timeline. 

I guess I just need to come up with more innovative ways to acquire larger and larger quantities of coins.

[TangibleCryptography]

Update for 11/15:
We will NOT have coins available for sale tomorrow (11/15) and are not accepting POs.   We dipped into our reserves some to cover PO today and to avoid being caught in a net short scenario it is prudent for us to rebuild our reserves.

[Bitcoin Oz]

TC.

This response is coming as a result of the ECB paper.  The ECB paper has marked the beginning of the mainstream's realization of the inevitability of BTC widespread adoption.   These are probably major players getting in off-market to avoid price spikes on the exchange.


Just my 2C.

We have noticed some larger sized orders from new clients and the average order size has increased.  Hadn't thought about the timing of the ECB report but it would fit with the timeline. 

I guess I just need to come up with more innovative ways to acquire larger and larger quantities of coins.

BTC-GLOBAL launches soon 

[jwzguy]

Update for 11/15:
We will NOT have coins available for sale tomorrow (11/15) and are not accepting POs.   We dipped into our reserves some to cover PO today and to avoid being caught in a net short scenario it is prudent for us to rebuild our reserves.

Just out of curiosity, did raising your buy price significantly affect your incoming volume?

I can't be disappointed about btc buying volume being so high, even though you getting wiped out makes it harder to buy. We are living in exciting times!

[DeathAndTaxes]

Update for 11/15:
We will NOT have coins available for sale tomorrow (11/15) and are not accepting POs.   We dipped into our reserves some to cover PO today and to avoid being caught in a net short scenario it is prudent for us to rebuild our reserves.

Just out of curiosity, did raising your buy price significantly affect your incoming volume?

I can't be disappointed about btc buying volume being so high, even though you getting wiped out makes it harder to buy. We are living in exciting times!

It did.  We saw a healthy bump in our incoming volume but the demand for BD is kinda hard to believe.  It grew from roughly 5K BTC per week to ~10K BTC per week over the course of ~3 months.  Growth was pretty steady and consistent.  Then roughly two weeks ago we saw demand nearly double ... and then it increased about 50% after we relaunched and then this week is up (if you could fill all orders) about double that.  So more like 50K demand. 

Any growth in FC4B looks like pissing on a forrest fire.  Honestly it is hard for me to explain where the demand is coming from but we simply can't handle it.  Not even close.  I hate to turn sales away but even if FC4B doubled we should still be "short".

[jwzguy]

It did.  We saw a healthy bump in our incoming volume but the demand for BD is kinda hard to believe.  It grew from roughly 5K BTC per week to ~10K BTC per week over the course of ~3 months.  Growth was pretty steady and consistent.  Then roughly two weeks ago we saw demand nearly double ... and then it increased about 50% after we relaunched and then this week is up (if you could fill all orders) about double that.  So more like 50K demand. 

Any growth in FC4B looks like pissing on a forrest fire.  Honestly it is hard for me to explain where the demand is coming from but we simply can't handle it.  Not even close.  I hate to turn sales away but even if FC4B doubled we should still be "short".

That's awesome. So you guys have blown past all other exchange mediums except for MtGox. That's incredible...convenience and customer service goes a long way.

[TangibleCryptography]

It did.  We saw a healthy bump in our incoming volume but the demand for BD is kinda hard to believe.  It grew from roughly 5K BTC per week to ~10K BTC per week over the course of ~3 months.  Growth was pretty steady and consistent.  Then roughly two weeks ago we saw demand nearly double ... and then it increased about 50% after we relaunched and then this week is up (if you could fill all orders) about double that.  So more like 50K demand.  

Any growth in FC4B looks like pissing on a forrest fire.  Honestly it is hard for me to explain where the demand is coming from but we simply can't handle it.  Not even close.  I hate to turn sales away but even if FC4B doubled we should still be "short".

That's awesome. So you guys have blown past all other exchange mediums except for MtGox. That's incredible...convenience and customer service goes a long way.

Thanks, however in full disclosure the past two week may be an aberration and too short to draw any conclusions.  On a longer timeline (say 30 day moving average) we are just behind btc-e.   Given we aren't even an exchange it is still pretty impressive.  Remember there is no day-trading, all of these are transactions are coin inflows or outflows.  Exchanges report their trading activity but if they reported total inflows and outflows (i.e. total BTC deposited and withdrawn) they would be much lower numbers.  

The growth shows there is demand for a non-exchange structure.  I think part of the success is the the simplicity of the design.  When most people are looking to buy or sell gold they go to a gold dealer.  The dealer gives them a price and they take it or leave it.  They know the dealer is making a spread but they are just looking to buy or sell not daytrade.  Maybe they shop around a little bit but they don't try to take out some future's contracts just to buy a couple coins.  We are a Bitcoin dealer much like APMEX is a gold dealer.   There is no need for a client have us hold more of their coins/dollars then what is involved in a single trade.   So we aren't sitting on giant piles of coins and cash that clients need to worry about disappearing in a hack or scam.  In the light of various high profile hacks and scams I think that makes us attractive.

[ChipGeek]

There is no need for a client have us hold more of their coins/dollars then what is involved in a single trade.   So we aren't sitting on giant piles of coins and cash that clients need to worry about disappearing in a hack or scam.  In the light of various high profile hacks and scams I think that makes us attractive.

Yes indeed.  When I need to buy some coins again, I will certainly look to Bitcoins Direct first for the reasons listed here. 

I am surprised that the price isn't going up more with all the demand though.  That part seems strange to me.  Perhaps part of the reason is that FC4B / BD is not a free market.  Instead, they are (wisely!) controlling their portion of the market by not allowing themselves to be caught short (or long) with bitcoin.  But given that MtGox is a free market exchange, I would think their price should be going up more.  Oh well - if I was a trading expert, I would be too rich to be thinking about it here. 

[miscreanity]

I am surprised that the price isn't going up more with all the demand though.  That part seems strange to me.  Perhaps part of the reason is that FC4B / BD is not a free market.  Instead, they are (wisely!) controlling their portion of the market by not allowing themselves to be caught short (or long) with bitcoin.  But given that MtGox is a free market exchange, I would think their price should be going up more.  Oh well - if I was a trading expert, I would be too rich to be thinking about it here.  

The effects of dark pools on a broader economy are felt long after their actions have taken place. Gox rates won't change much until supply becomes squeezed or demand increases - it appears that demand is certainly increasing, and a supply shortage will follow if it persists.

[laststop]

How does the coin supply look for tomorrow the 16th?

[Stephen Gornick]

I am surprised that the price isn't going up more with all the demand though.

A couple months ago there were three bigger services where one could deposit cash at a bank to buy coins.  Two of these are no longer supporting that method. so Bitcoins Direct is now about the last channel for that payment method.

So they might be seeing a huge increase but that doesn't mean all together there's a significant increase.

The exchange volumes elsewhere are down by a third compared to October, and down half from August, so some of that might be substitution but then again, other exchanges might have a fair amount of day trading activity whereas every Bitcoins Direct purchase is an inflow of new funds.

[TangibleCryptography]

Update for 11/16/2012:
We have a moderate amount of coins available for 11/16.  POs accepted on first come first serve basis.
Exchange rate raised to 1% over 'MtGox last price' at time of deposit.

[TangibleCryptography]

Update for 11/16/2012:
We have a moderate amount of coins available for 11/16.  POs accepted on first come first serve basis.
Exchange rate raised to 1% over 'MtGox last price' at time of deposit.

[OUT OF COINS for 11/16]
That went faster than I expected.  I think some people have us in GPG speed dial.

Update:
We have secured our first six figure client. The good news is .... well six figures is a lot of coins. The bad news is that will exhaust our supply at least through Tuesday. 

[2weiX]

six figure ... six figures

whaaaaaat
columbian? CIA?

i dont even...

congrats!

[MPOE-PR]

Update for 11/15:
We will NOT have coins available for sale tomorrow (11/15) and are not accepting POs.   We dipped into our reserves some to cover PO today and to avoid being caught in a net short scenario it is prudent for us to rebuild our reserves.

Just out of curiosity, did raising your buy price significantly affect your incoming volume?

I can't be disappointed about btc buying volume being so high, even though you getting wiped out makes it harder to buy. We are living in exciting times!

It did.  We saw a healthy bump in our incoming volume but the demand for BD is kinda hard to believe.  It grew from roughly 5K BTC per week to ~10K BTC per week over the course of ~3 months.  Growth was pretty steady and consistent.  Then roughly two weeks ago we saw demand nearly double ... and then it increased about 50% after we relaunched and then this week is up (if you could fill all orders) about double that.  So more like 50K demand. 

Any growth in FC4B looks like pissing on a forrest fire.  Honestly it is hard for me to explain where the demand is coming from but we simply can't handle it.  Not even close.  I hate to turn sales away but even if FC4B doubled we should still be "short".

I'll tell you where it's coming from: MtGox is doing a piss-poor job of it on multiple counts, and customers aren't happy.

Nice going anyway.

[jwzguy]

[OUT OF COINS for 11/16]
That went faster than I expected.  I think some people have us in GPG speed dial.

Update:
We have secured our first six figure client. The good news is .... well six figures is a lot of coins. The bad news is that will exhaust our supply at least through Tuesday. 

6 figures in USD or BTC? Sorry to be nosy.

[BCB]

I was curious about that too, and when I did the math based on TC recent sales I assumed it was six figures in USD.

[DeathAndTaxes]

I was curious about that too, and when I did the math based on TC recent sales I assumed it was six figures in USD.

Correct, "six figures" as in over $100K USD.
Yeah 100,000 BTC would be really nice.  Maybe in 2013.

[TangibleCryptography]

Just to be absolutely clear, out of coins means out of coins.    We are out, out, out. 

We are getting a lot of PO requests.  I understand price is moving and people want to double, triple, quadruple check in a hope against hope that there is a chance to get a buy order in.  However we got no hidden bitcoins in the couch cushions.  No disrespect intended but OUT means OUT and it is a busy day so we may not be able to respond to all PO requests (just to say, "nope we really are out").

Thanks,

Support

Tangible Cryptography

[laststop]

If you are gonna charge fees on buying coins now then I think you need to raise your buy price so you can keep stock  longer than 15 minutes. It's like ridiculous i have been wanting to get coins from here for like months and everytime I have the money coins are out -sigh- this really sucks

You had coins in at 4:30AM by the time I wake up they are gone and I really wanted to order some coins today and not pay 60+ dollars in fees to bitinstant. If bitinstant can keep a constant stock why cant you guys?

Since you raised your sell price by 2% from 1% below to 1% above you should raise your buy price by 2%. You make the same profit that way and hopefully more people will sell you coins.

[DeathAndTaxes]

If you are gonna charge fees on buying coins now then I think you need to raise your buy price so you can keep stock  longer than 15 minutes. It's like ridiculous i have been wanting to get coins from here for like months and everytime I have the money coins are out -sigh- this really sucks

You had coins in at 4:30AM by the time I wake up they are gone and I really wanted to order some coins today and not pay 60+ dollars in fees to bitinstant. If bitinstant can keep a constant stock why cant you guys?

So we should charge 5%?  At a 5% premium demand likely would be much less and it would be much easier to keep coins in stock.  Are you sure that is the comparison you want to make?

I am sorry you are unhappy we HAVE raised our buy price and it is bringing in an increased volume of coins however demand for coins is still higher. 

[laststop]

you should raise your buy price by the same amount u raised the sell price

[DeathAndTaxes]

you should raise your buy price by the same amount u raised the sell price

We raised our buy price by MORE than the amount we raised our sell price.   FC4B had a 5.2% volatility adjust margin and  BD has no fee (5.2% total spread - volatility adjusted).  Today FC4B has a 3.95% volume adjusted margin and BD has a 1% fee (4.95% total spread - volatility adjusted).

[laststop]

oh then i guess i just am cursed with bad luck. This is the 4th time I needed to buy coins and all 4 times I cam here first and all 4 times i got shut down.

you mean 6.2% spread originally as BD was under 1% now ts over 1% so spread is 4.95% from 6.2% and it's still not able to be in stock

I think i get it seems the market goes in phases where people buy more then times people sell more so you cant overcompensate too much

[DeathAndTaxes]

oh then i guess i just am cursed with bad luck. This is the 4th time I needed to buy coins and all 4 times I cam here first and all 4 times i got shut down.

you mean 6.2% spread originally as BD was under 1% now ts over 1% so spread is 4.95% from 6.2% and it's still not able to be in stock

Well I was comparing it to just a month ago.   At one point BD was 1.5% under market rate and when we continually ran out of USD our margin on FC4B has been as high as 7.95%.  It is a balance.   Prior to roughly a month ago we never ran out on coins.   Hell we sold an excess of thousands and thousands of coins a week on the major exchanges week in and week out for months and that was when offering as much as 1.5% under MtGox.

Demand has increased.  That is a good thing but it also leads to problems.  I am not going to crush our margins though just so we can sell more coins for a smaller profit at higher risk in some "goal" to beat demand.  Sorry.

[laststop]

yea i see the market just has phases of different activity. Everyone on a buying spree now and when the coin price goes up enough everyone will be in selling mode.

[DeathAndTaxes]

yea i see the market just has phases of different activity. Everyone on a buying spree now and when the coin price goes up enough everyone will be in selling mode.

Agreed.  In a perfect world we would have 50,000 BTC and $500,000 USD in reserves, never run out of either coins or dollars, and buy/sell at a spread based on our own supply/demand (i.e. buying at $11.00 and selling at $11.40).  

We aren't there yet.

[Minor]

After coins have become temporarily available you say "orders were fulfilled in first come first serve order" but now you say "OUT means OUT and it is a busy day so we may not be able to respond to all PO requests (just to say, "nope we really are out")".

So, do you build a queue of PO requests or not?

If I just want to buy some coins in the next few days, whenever they become available, no rush, should I send a PO request or not?

I could even send the money ahead of time (once I get the PO#, of course) , and you just send the coins when you have them, at 1% above the current price at the time that you send them.
I don't care what the price is, I just need X dollars worth of bitcoins, and by the time I receive them, they should be worth approximately X dollars.

[TangibleCryptography]

No we dont want a queue.  If we are out of stock the PO will be denied.  We won't keep it on file. If we have coins in stock PO received will be filled first come first serve.

[laststop]

So my only option to get coins from you is to refresh this listing over and over and just hope I catch it?

Is there anyway you can tell us when you will be opening for orders again so i can be ready to go with my PO request?

Desperately would love to get an order in monday. i know my 1350 is small potatoes to all the transfers you do but it's huge for me

[laststop]

Set my alarm in hopes of waking up early to some coins. -sigh- i give up bitinstant gets my money again.

[TangibleCryptography]

So my only option to get coins from you is to refresh this listing over and over and just hope I catch it?

Is there anyway you can tell us when you will be opening for orders again so i can be ready to go with my PO request?

Desperately would love to get an order in monday. i know my 1350 is small potatoes to all the transfers you do but it's huge for me

Set my alarm in hopes of waking up early to some coins. -sigh- i give up bitinstant gets my money again.

Repeating from up thread.  "We have exhausted our available supply until Tuesday at the earliest."   
We can't sell what we don't have.

[TangibleCryptography]

Update 11/19/2012:

[OUT OF COINS] Due to some very large bulk orders we will not have any coins available today.  We probably will not have coins available tomorrow (depends on FC4B volume).   I will post another update this evening confirming when we will resume accepting POs.

Update 18:19 EST:
We will not have coins available 11/20.   Sales will begin again 11/21.  We will accept PO starting 11/20 for deposit dated 11/21 or later.

[BradZimdack]

With all due respect, this is like waiting in a Communist bread line.  Perhaps TC should simply raise prices to alleviate the shortage?  I would gladly pay a hefty premium over the current price if that would assure reliable availability.

[TangibleCryptography]

With all due respect, this is like waiting in a Communist bread line.  Perhaps TC should simply raise prices to alleviate the shortage?  I would gladly pay a hefty premium over the current price if that would assure reliable availability.

That has to be a first.  Customers asking for higher prices.

We have considered higher rates (and already raised them twice) however we want to be careful to not over-react.  I discussed it with my partners and there is a lot of volatility in daily and even weekly volume of the two services.  Currently FC4B is trending lower than expected and BD higher.  We don't want to push prices too high only to have the situation reverse.   I believe by next week the outages will be significantly reduced.  Volume is growing on FC4B.  The dropoff is partially explained by the new system requiring accounts and setup.  It creates a barrier to new sales.   We are seeing solid grow in repeat sales and signups and activations continue to grow.  We also have some new exicting payment options which will hopefully further accelerate sales growth.  Lastly we will be looking to expand our Line Of Credit in the coming weeks to provide more of a cushion between the swings in the two services.

TL/DR:
Yes we are considering higher prices (even significantly higher prices) but higher prices aren't always the best path to success for the company.

[c0dex]

Any updates, TC?  I read in your FC4B thread about your BoA problems ... Is this preventing you from accepting wire transfer PO requests?

[TangibleCryptography]

Any updates, TC?  I read in your FC4B thread about your BoA problems ... Is this preventing you from accepting wire transfer PO requests?

No.  The wire issue is related to BofA authentication system used when creating new payee profiles.  It won't affect incoming wires (or outgoing wires for existing FC4B customers).  

We were taking PO requests today for 11/21 however we have now exhausted our supply.  Due to thanksgiving (banking holiday) I don't have an ETA on when we will be accepting more PO.

[TangibleCryptography]

Update 11/20 [OUT OF COINS]

We have accepted enough PO to cover our projected supply of coins through the end of business on 11/21.  We are not accepting more PO.  Due to the holiday weekend (11/22 is a banking holiday) it is difficult to have good visibility on "coinflow" so there is no ETA at this time on when PO will resume.

When sales resume there will be some changes to the program:

1) Change in exchange rate:
We will be increasing our Bitcoins Direct selling price to 2% over 'MtGox last price' and raising the buying price on FC4B by an equivalent amount to stimulate further sales.  

2) Change in minimums & maximums:
Minimum order is being raised from $500 to $1,000.  This is inline with our "wholesaler" market niche.  The maximum on cash deposits will be reduced to $3,000.  This limit can't be raised even for repeat customers.   This request was made by our banking partners.   The limit on bank wires has been raised to $6,000 and can be negotiated higher based on trading history.

3) Dropping cashier's checks:  
We are discontinuing sales by cashier's check.  It was a more time consuming, and slower method of funding.  Given our inability to meet demand and the relatively small volume that method saw it will allow us to streamline our operation.

[Stephen Gornick]

How do I get started?  How do I requesting Funding Instructions?
Send an encrypted GPG message to info@tangiblecryptography.com with:
a) An export of your GPG public key which contains your email address* or a link to it on a keyserver (first time only)
b) Your 8 digit GPG KEYID (use the KEYID for the main key not any subkeys (i.e. our company's KEYID is C26C17CD).

Does that need to be signed as well, or just encrypted?

[TangibleCryptography]

How do I get started?  How do I requesting Funding Instructions?
Send an encrypted GPG message to info@tangiblecryptography.com with:
a) An export of your GPG public key which contains your email address* or a link to it on a keyserver (first time only)
b) Your 8 digit GPG KEYID (use the KEYID for the main key not any subkeys (i.e. our company's KEYID is C26C17CD).

Does that need to be signed as well, or just encrypted?

It doesn't need to be signed (although it won't hurt) however PO requests do need to be signed. 

[MPOE-PR]

You know at this rate [OUT OF COINS] will become part of the brand name.

[TangibleCryptography]

You know at this rate [OUT OF COINS] will become part of the brand name.

All joking aside that wouldn't be good. 

[TangibleCryptography]

Status: [CLOSED UNTIL 12/03/2012]
Tangible Cryptography has closed another six figure deal with a buyer at favorable terms.  Funding this transaction will absorb most of our projected supply over the next week.  We are going to use the time to build a sales portal similar to FastCash4Bitcoins and prepare for a 12/03/2012 lunch.


http://bitcoinsdirect.net

Staff
Tangible Cryptography LLC

[zebedee]

Status: [CLOSED UNTIL 12/03/2012]
Tangible Cryptography has closed another six figure deal with a buyer at favorable terms.  Funding this transaction will absorb most of our projected supply over the next week.  We are going to use the time to build a sales portal similar to FastCash4Bitcoins and prepare for a 12/03/2012 lunch.


http://bitcoinsdirect.net

Staff
Tangible Cryptography LLC

Wow.  doing some great business there.

[TheButterZone]

Status: [CLOSED UNTIL 12/03/2012]
Tangible Cryptography has closed another six figure deal with a buyer at favorable terms.  Funding this transaction will absorb most of our projected supply over the next week.  We are going to use the time to build a sales portal similar to FastCash4Bitcoins and prepare for a 12/03/2012 lunch.


http://bitcoinsdirect.net

Staff
Tangible Cryptography LLC

What's on the menu?

[TangibleCryptography]

Bitcoins Direct - Private off exchange sales

Status: [LAUNCH OF NEW SITE DELAYED]
Launch of the new site for Bitcoins Direct has been delayed.  

Existing clients (who have completed a transactions in the past and have funding instructions):
Existing clients that have funding instructions can continue to submit GPG signed purchase orders in the format specified in funding instructions.  

New clients:
Due to time constraints and the fact that the new site will result in different funding procedures we aren't accepting new clients at this time.  The best way to serve the most potential clients is to get the site up and running as quickly as possible.  Getting new clients "up and running" diverts resources from that task.

http://bitcoinsdirect.com

Staff
Tangible Cryptography LLC

[ripper234]

Any updates? (Hope D&T is felling better)

[DeathAndTaxes]

Any updates? (Hope D&T is felling better)

Yeah feeling much better.  Site should be complete "soon".

[TangibleCryptography]

Update:  for orders which are funded today only the rate has been reduced from 2% over MtGox to 0.5% over Mtgox.

If you already received a deposit code for a deposit today you will be given the reduced rate automatically.

[Thursday]

ETA for the new site?

[opentoe]

I've dealt with TC several times in buying bitcoins. It has always been a fast and reliable way for me. I can't wait for the new service.

[Philj]

Any update on this service?

[TangibleCryptography]

Any update on this service?

Sorry no.  The end of year has been very busy and there are some much needed changes to FC4B both the website and some of our backend processing.  Since existing clients generate enough demand to satisfy our needs the launch of an expanded site to handle more clients has been a casualty of "too much to do and too little time".  I don't want to provide an ETA until we have the resources to devote to the new site launch.  Two things are true.  We can't handle higher volume processing Purchase Orders manually and we won't launch a site which doesn't meet our high standard for security and privacy.

Staff
Tangible Cryptography LLC

[atomium]

I bought coins from TC a couple weeks ago but I forgot to post about it. Great Service and Delivery. Definitely going to use them next time.

[exdirrk]

Waiting to do another purchase but the PGP key has expired.  Waiting to hear back from Tangible

[TangibleCryptography]

Waiting to do another purchase but the PGP key has expired.  Waiting to hear back from Tangible

Update company key.

KeyID: C26C17CD
Fingerprint: 3AF3 01A1 91EC E112 621C  ACC0 28BB 715F C26C 17CD

-----BEGIN PGP PUBLIC KEY BLOCK-----
Version: GnuPG v2.0.17 (MingW32)

mQENBE/VLUUBCACvd4lw8GpmiHJ0ru+C5HuWd9EJ/quCZ1tgqg+9JOUf+7ZJCxFf
qgbfEA7K6kMu0ine0423LvfKUtvZhBAsCSvsvpaBrv/nEF41YFn6e61CzE9tBuTQ
JqTuV8GoVw+1ZimiTbtLtqh+X2t5bX2wOrSuWARHCC+voNrlcLjKirJwWIVCy59b
8rUMt6iyk5Y+jn3CgXeyzuYI3+PfXIfiCvdvqksfM5H0DuzophY2TSh15+f9SJTb
ulwRvb6tnL47dJmFT6n96QuhMBHVrcfYyIhciARCN14k/R4zfMNtk5K+oTIhNiJ0
SfpZJ0EaZfPpS7pZPvMgDsF17MBNkTK/vXc5ABEBAAG0OVRhbmdpYmxlIENyeXB0
b2dyYXBoeSBMTEMgPGluZm9AdGFuZ2libGVjcnlwdG9ncmFwaHkuY29tPokBPgQT
AQIAKAIbAwYLCQgHAwIGFQgCCQoLBBYCAwECHgECF4AFAlDbReMFCQLtyssACgkQ
KLtxX8JsF81BXwgAo70eS7k6vz/9z9DCrPq4tRal0akMvmEqpmH7fteAvkk/1xer
LNiExfAe6JNuvtrQo9cqOK48/RUrnif0dJbhIXFkzE1tJfL//KeK46H21fKvOs9l
vcnYUlYyrqZ01a0W4wybMX6BFxy5LJ2hlC5diX8Ao4SYOvCRJJnIQIffFuN3XF8a
C02lSXHtjx+V53R4stmG11WTl2bsydPyrtfK/xveXzK+lJsCDBgZ9cUpZC2/a02t
pMEwi8dXJkWUUQCSwKt8sJoV4YVRKO3u1LWLDmbq7lppr7etemrDwvij0PPtfzr9
E6R7rpX8aiVN87xPiLzBz2ITYX9gGFLpTE0TwrkBDQRP1S1FAQgAr4O3FjnlSuPp
8Z/IGIUwhpxqsBOb6DD0o0POae2/ifWWOHu/P2Wo1KKUDku0CQQ1xuMOkWquHv2j
3nvoXJ12tcIXUK/SCyMYlyomQ6SOYwyg7yQH0N04Ui4RZyChtMg43twVneqGkZGF
EaQ16KC3c/8Y4IJk2DzlCCE545XyarPlnzzBf4rNtpUPY0qV88roM6lpMj3YW9WU
H/3nExyD9+oFDXNh37p9mVAnXXmKvTqC6rSVsNwq7i7XtCKOdXqvcbFshGpc4yiH
RuCCmwQdXzQIJYwvGWAGnGQIL7YGptgk2qzKgL4mWbbUO1hdWLXYM+5Y4532I0oH
T85CI3DgKQARAQABiQEfBBgBAgAJBQJP1S1FAhsMAAoJECi7cV/CbBfNvuwH/j+G
R00kowuC4r8FR/RoYJzBYDabvn+ir3EV1hirAuPM3qnttLDYQZYFCNc9cS4UCFdO
OuY+B3EYA6go/MfqT4tXAdSaIe/QrVKqU0zGwg0ADpONP1cS9+ICP50LRY05tU51
OuajBjrP4s/mfmfkcg9HkEpGmmoUiKe0zZbsfmkCXUNUfH8KMXEpy35ln3OwCCNQ
/WOCufyN/eI+9kvjfRwUv8A08tSkPWrk9rgup9o2uQ5KDDDKEIFB+UNkk6ad6HRk
lrma6kYNBD6UahqOTUrBTlx2cN7MQfAON/ljc8cEUQdAHcVB316LoBJpHluLLTpX
9hp61F2RzYO1TlHfpVc=
=6ek9
-----END PGP PUBLIC KEY BLOCK-----

[exdirrk]

Thanks man

[atomium]

I just updated the key automatically with gpg keychain access app, it grabbed from the keyserver

[opentoe]

I was really looking forward to this automated type process. Maybe I'm lucky it is not here, too easy to buy bitcoins.

I have purchased bitcoins myself and have the directions on how to, but I wanted to ask about a friend of mine that asked me about it. Is he allowed to use this service or is it closed to new people?
Thanks.

[Thursday]

I was really looking forward to this automated type process. Maybe I'm lucky it is not here, too easy to buy bitcoins.

I have purchased bitcoins myself and have the directions on how to, but I wanted to ask about a friend of mine that asked me about it. Is he allowed to use this service or is it closed to new people?
Thanks.

Tangible isn't accepting new clients.  Why not just purchase some on his behalf?

[TangibleCryptography]

I have purchased bitcoins myself and have the directions on how to, but I wanted to ask about a friend of mine that asked me about it. Is he allowed to use this service or is it closed to new people?

We are closed to new clients at this time.   Of course if you were looking to purchase some more coins for resale I don't see a problem with that.

[CIYAM]

We are closed to new clients at this time.   Of course if you were looking to purchase some more coins for resale I don't see a problem with that.

If there are any Aussie clients of Tangible who would be interested in reselling BTC for AUD to myself directly please PM with your rate.

[opentoe]

I have purchased bitcoins myself and have the directions on how to, but I wanted to ask about a friend of mine that asked me about it. Is he allowed to use this service or is it closed to new people?

We are closed to new clients at this time.   Of course if you were looking to purchase some more coins for resale I don't see a problem with that.

Thank you!

[TangibleCryptography]

We are temporarily out of stock and likely will be for the next few days.  No new PO requests are being accepted.  Got some rather large open POs which will take a couple of days to work through.

[atomium]

I have a quick question for you guys, I recently saw that coinbase.com has opened up their amount of bitcoins to buy to 100 per day instead of 9 which was their limit. Is buying from you guys still come out cheaper with their fees? How much do they charge compared to how much you guys charge? Are the fees the same with you guys but the only good thing is that I get my coins instantly as opposed to 7 days like coinbase?

[TangibleCryptography]

I have a quick question for you guys, I recently saw that coinbase.com has opened up their amount of bitcoins to buy to 100 per day instead of 9 which was their limit. Is buying from you guys still come out cheaper with their fees? How much do they charge compared to how much you guys charge? Are the fees the same with you guys but the only good thing is that I get my coins instantly as opposed to 7 days like coinbase?

I am not sure what coinbase fees are. Our rate varies based on supply but averages 1% over spot (MtGox last at time of deposit). 

[opentoe]

Are you still using BOA for current customer's that buy BTC from you? I saw in another thread that BOA will no longer be used on your other site.

Thanks-

[TangibleCryptography]

Are you still using BOA for current customer's that buy BTC from you? I saw in another thread that BOA will no longer be used on your other site.

Thanks-

Yes we will continue to accept deposits @ BofA through 1/25/2012. 
Our BofA accounts are open and active they will just be closed by the end of the months.

[TangibleCryptography]

UPDATE:

All terms for wire purchases have been amended to include this provision

In the event funds are sent prior to the contracted date or notification of a wire isn't provided we will use the 24hr VWAP price @ 23:59:59 UTC on the date specified in the PO.

The purpose is to prevent an ambiguous situation in the event the client doesn't notify us of a wire transfer (per PO terms) or wires funds earlier than the specified date on the PO.  In those situations the funding rate will be the 24hr VWAP (MtGox) at 23:59:59 on the funding date.

To be clear this only applies if funds are sent early OR we don't receive wire notification.  If you send a wire "normally" (on funding date and provide notification) our normal policies apply.  Any PO with custom term (multi-day transactions) supersede this condition.

[TangibleCryptography]

IMPORTANT NOTE:


01/25/2013 is the last day we will accept bank wires sent to our Bank Of America account.  All bank wires sent after 01/25/2013 should be direct to our PNC account.  Wires sent to Bank Of America after 01/25/2013 will be declined by the bank and returned at sender's cost.   If you are an existing customer and need updated bank wire funding instructions please send a request to info@tangiblecryptography.com (including GPG KEYID).

[opentoe]

IMPORTANT NOTE:


01/25/2013 is the last day we will accept bank wires sent to our Bank Of America account.  All bank wires sent after 01/25/2013 should be direct to our PNC account.  Wires sent to Bank Of America after 01/25/2013 will be declined by the bank and returned at sender's cost.   If you are an existing customer and need updated bank wire funding instructions please send a request to info@tangiblecryptography.com (including GPG KEYID).

So has bitcoinsdirect been indefinitely delayed?

[TangibleCryptography]

We don't have an ETA on the launch of the site.  Demand by our roughly 200 existing clients meets our current "coinflow" so it is a lower priority.  Our goal is to expand, simplify, and advertise the FC4B site.  As we acquire more coins to the point our existing clients can't cover that supply launching the Bitcoins Direct website becomes a higher priority.

[TangibleCryptography]

We have acquired a record number of Bitcoins in the prior week so we are having a Bitcoin sales and opening access to new clients.  While supplies last.

Bitcoins Direct - Private off exchange sales

Current Rate:
    Purchases by Bank Wire - 0% over spot at the time of wire notification
    Purchases by Cash Deposit - 1% over spot at the time of wire notification

Existing clients (who have completed a transactions in the past and have funding instructions):
Existing clients that have funding instructions can continue to submit GPG signed purchase orders in the format specified in funding instructions.  

New clients: [OPEN]
We are temporarily accepting new clients.  You need to have PGP installed and already understand how to encrypt, sign, decrypt, and verify messages.  Send a test message with your preferred method of deposit (bank wire, or cash deposit) encrypted with our company key (C26C17CD) to info@tangiblecryptography.com

More info on Tangible Cryptography's PGP key:
https://fastcash4bitcoins.com/about.aspx

Staff
Tangible Cryptography LLC

[DeathAndTaxes]

With the spike we obviously have a lot of coins coming in.   Offer likely will be open for another day but don't wait too long.

[zebedee]

We have acquired a record number of Bitcoins in the prior week so we are having a Bitcoin sales and opening access to new clients.  While supplies last.

What, existing customers are stuffed full of bitcoins for once?    Say it ain't so....

[TangibleCryptography]

We have acquired a record number of Bitcoins in the prior week so we are having a Bitcoin sales and opening access to new clients.  While supplies last.

What, existing customers are stuffed full of bitcoins for once?    Say it ain't so....

I guess so.  Or it is more like draining a tub while the faucet is still on.  Some large buys have come in but still got a decent supply.  The offer will probably close today though.

[TangibleCryptography]

The special offer is closed but we are still accepting new clients.

[TangibleCryptography]

Bitcoins Direct - Private off exchange sales

Fees:
0.99% of deposited amount for deposits made by Bank Wire
1.29% of deposited amount for deposits made by Cash Deposit

Minimum Deposit: $500
Maximum Deposit:  $3000 by Cash Deposit, $6,000 by Bank Wire.*

Terms:
Orders priced at "spot" (MtGox last price on USD market only) at the time of deposit (time of wire notification for wires).  Alternatively 24hr VWAP can be used but it must be requested at time of Purchase Order.  Deposits over $25,000 will be paid out in installments over multiple days using 24hr VWAP for each day's payment.  Contact us for details on VWAP pricing or multi-day orders. 

* Bank Wire limits can be raised up to $250,000 based on trading history.  Cash Deposit limits can not be raised.  Deposits



Existing clients (who have completed a transactions in the past and have funding instructions):
Existing clients that have funding instructions can continue to submit GPG signed purchase orders in the format specified in funding instructions.  Note: we have not accepted deposits at Bank Of America since 1/25.  If your funding instructions state Bank Of America please requested updated instructions.

New clients: [OPEN]
We are temporarily accepting new clients.  You need to have PGP installed and already understand how to encrypt, sign, decrypt, and verify messages.  Send a test message with your preferred method of deposit (bank wire, or cash deposit) encrypted with our company key (C26C17CD) to info@tangiblecryptography.com.  Include a ASCII export copy of your public key (don't send us your private key).

More info on Tangible Cryptography's PGP key:
https://fastcash4bitcoins.com/about.aspx

Staff
Tangible Cryptography LLC

[atomium]

Bitcoins Direct - Private off exchange sales

Fees:
0.99% of deposited amount for deposits made by Bank Wire
1.29% of deposited amount for deposits made by Cash Deposit

Minimum Deposit: $500
Maximum Deposit:  $3000 by Cash Deposit, $6,000 by Bank Wire.*

Terms:
Orders priced at "spot" (MtGox last price on USD market only) at the time of deposit (time of wire notification for wires).  Alternatively 24hr VWAP can be used but it must be requested at time of Purchase Order.  Deposits over $25,000 will be paid out in installments over multiple days using 24hr VWAP for each day's payment.  Contact us for details on VWAP pricing or multi-day orders.  

* Bank Wire limits can be raised up to $250,000 based on trading history.  Cash Deposit limits can not be raised.  Deposits



Existing clients (who have completed a transactions in the past and have funding instructions):
Existing clients that have funding instructions can continue to submit GPG signed purchase orders in the format specified in funding instructions.  Note: we have not accepted deposits at Bank Of America since 1/25.  If your funding instructions state Bank Of America please requested updated instructions.

New clients: [OPEN]
We are temporarily accepting new clients.  You need to have PGP installed and already understand how to encrypt, sign, decrypt, and verify messages.  Send a test message with your preferred method of deposit (bank wire, or cash deposit) encrypted with our company key (C26C17CD) to info@tangiblecryptography.com.  Include a ASCII export copy of your public key (don't send us your private key).

More info on Tangible Cryptography's PGP key:
https://fastcash4bitcoins.com/about.aspx

Staff
Tangible Cryptography LLC

How come cash deposits have higher fees than a bank wire? Isn't a cash deposit better?

How come the limit for cash deposits is $3000?

Sorry if you have answered this before, I haven't seen a response.

[TangibleCryptography]

Cash deposit is limited for security reasons at the request of our banking partners.  Cash is almost never better for a business.  The idea that cash is free is simply a myth because the trust cost is hidden from the consumer.  We (like every business with large cash volume) pay a cash handling fee on every dollar of every deposit.

[opentoe]

Cash deposit is limited for security reasons at the request of our banking partners.  Cash is almost never better for a business.  The idea that cash is free is simply a myth because the trust cost is hidden from the consumer.  We (like every business with large cash volume) pay a cash handling fee on every dollar of every deposit.

Maybe one day we'll get away from the dollar %100 and not have to worry about these fees. Going bitcoin %100 is where it's at. The worst thing I want to see ever happen is Paypal starting to accept bitcoin and then take over the bitcoin escrow market. OUCH. There is nothing free about a free capitalist country.

[atomium]

Cash deposit is limited for security reasons at the request of our banking partners.  Cash is almost never better for a business.  The idea that cash is free is simply a myth because the trust cost is hidden from the consumer.  We (like every business with large cash volume) pay a cash handling fee on every dollar of every deposit.

Thanks for the reply, do you guys take Bank transfer from BOA account to BOA account? Will the fees be less?

[DeathAndTaxes]

Cash deposit is limited for security reasons at the request of our banking partners.  Cash is almost never better for a business.  The idea that cash is free is simply a myth because the trust cost is hidden from the consumer.  We (like every business with large cash volume) pay a cash handling fee on every dollar of every deposit.

Thanks for the reply, do you guys take Bank transfer from BOA account to BOA account? Will the fees be less?

No.  This seems to come up a lot when we open to new members. 

Accepted funding options:
Bank Wire
Cash Deposit

No other options are accepted.  We no longer use Bank Of America for any services.

[zebedee]

Thanks for the reply, do you guys take Bank transfer from BOA account to BOA account? Will the fees be less?

No.  This seems to come up a lot when we open to new members. 

Accepted funding options:
Bank Wire
Cash Deposit

No other options are accepted.  We no longer use Bank Of America for any services.

Are "bank wire" and "bank transfer" not synonymous in the US?  I never knew.

[TheButterZone]

Thanks for the reply, do you guys take Bank transfer from BOA account to BOA account? Will the fees be less?

No.  This seems to come up a lot when we open to new members. 

Accepted funding options:
Bank Wire
Cash Deposit

No other options are accepted.  We no longer use Bank Of America for any services.

Are "bank wire" and "bank transfer" not synonymous in the US?  I never knew.

Bank wire: Fedwire or SWIFT
Bank transfer: ACH

[TangibleCryptography]

New clients: [CLOSED]
We are not accepting new clients at this time.  If you have sent introduction PGP email and I haven't responded you are still accepted I just have about 70 emails to get through this morning. 

[TangibleCryptography]

New clients: [CLOSED]
We are not accepting new clients at this time.  If you have sent introduction PGP email and I haven't responded you are still accepted I just have about 70 emails to get through this morning. 

Ok we should have responded to everyone by now. 

If you missed the new client window, it isn't personal but closed does mean closed.   We are a small startup with limited manpower and resources.

[DannyHamilton]

Just finished my first transaction, and I wanted to leave a comment saying I am grateful for how well you guys run this.

Transaction was seemless, smooth, easy, painless, and simple.  I got exactly what you promised exactly when and how you promised it.  I look forward to future transactions knowing that it is a pleasure doing business with Tangible Cryptography!

[TangibleCryptography]

Just finished my first transaction, and I wanted to leave a comment saying I am grateful for how well you guys run this.

Transaction was seemless, smooth, easy, painless, and simple.  I got exactly what you promised exactly when and how you promised it.  I look forward to future transactions knowing that it is a pleasure doing business with Tangible Cryptography!

Glad to hear it. 

[Dabs]

Just in case, what software do you recommend? GPG or PGP? I think they are a bit different, but implement the same technology. What minimum version or key size? I've used PGP before, about 10 years ago, but I don't use it on a daily basis so I've since stopped using it. Thank you.

[Severian]

Another happy repeat customer. These folks are the best kept secret in Bitcoin.

[opentoe]

Just in case, what software do you recommend? GPG or PGP? I think they are a bit different, but implement the same technology. What minimum version or key size? I've used PGP before, about 10 years ago, but I don't use it on a daily basis so I've since stopped using it. Thank you.

For Windows mostly everyone uses http://www.gpg4win.org/ and I've been using that for a long time myself. Very easy to setup and use.

[TangibleCryptography]

Just in case, what software do you recommend? GPG or PGP? I think they are a bit different, but implement the same technology. What minimum version or key size? I've used PGP before, about 10 years ago, but I don't use it on a daily basis so I've since stopped using it. Thank you.

Sorry I missed this message.

About 10 years ago PGP became an open standard, Open PGP (http://www.openpgp.org/) in RFC 4880.  Both the PGP software (now owned by Symantec) and GPG are implementations of the same open standard.   Under the PGP brand Symantec releases enterprise encryption products.

Our recommendations for new users:
Windows - http://www.gpg4win.org/  (GPG4Win is a package of multiple tools.  The GUI OpenPGP client is called "GPA")
OS X - https://www.gpgtools.org/
Linux - Gnu PG (GPG) already installed in most distros

[TangibleCryptography]

As a thank you to our clients, the best source for wholesale bitcoins just got better.  

The fee on bank wire funded orders has been reduced to 0.79% and with no slippage.  If you have an open bank wire order is has already been reduced to 0.79% no need to submit an new PO.

Thanks

Staff
Tangible Cryptography, LLC

[Dabs]

The date on the RFC is November 2007. I had used various versions of PGP before then. Thanks for the update. I've sent a trial encrypted email (and also tested on that adelle robot), but you replied that you are still closed for new clients.

[TangibleCryptography]

Update:
The maximum for cash deposits is $3,000 per day per client.  Even if we accepted larger PO in the past are clients new and existing are subject to the new max.   The initial limit for new bank wire clients is $6,000 however this can be increased based on trading history.  We have raised the fee on new cash deposits to 1.49%, bank wires remain 0.79%.

[TangibleCryptography]

Update 3/25/2013:  We are temporarily OUT OF STOCK and thus not accepting new PO at this time. The company has agreed to more than one large multi-day orders.  To ensure we can meet all obligations and provide the level of service our clients have come to expect we are temporarily suspending new PO for the rest of the week.  We will re-evaluate our liquidity on 04/01.

[zebedee]

Temporarily Closed to new orders.

We have received multiple large multi-day orders.  To ensure we can meet all obligations we are closed to new orders for the rest of the week.  We will re-evaluate our liquidity on 04/01.

Wow!

[opentoe]

So no more for a guy like me that wants to buy $1000 or whatever is no more?

O, I see it...for the rest of the week. I didn't read that part before. I guess it is time to pay %5 now.

[Dabs]

Hi opentoe, are you a customer of Bitcoins Direct? Would you sell me one of your coins?

[opentoe]

Hi opentoe, are you a customer of Bitcoins Direct? Would you sell me one of your coins?

Hello. Yes, I'm a customer but I'm looking to buy BTC myself right now. Just trying to avoid the back alley deals right now. Apparently ALL the major players are out of coin for some reason.

[EPiSKiNG]

Hi opentoe, are you a customer of Bitcoins Direct? Would you sell me one of your coins?

Hello. Yes, I'm a customer but I'm looking to buy BTC myself right now. Just trying to avoid the back alley deals right now. Apparently ALL the major players are out of coin for some reason.

I still have coins!  PM me!

See my feedback here:

http://bitcoin-otc.com/viewratingdetail.php?nick=EPiSKiNG-&sign=ANY&type=RECV

-EP

[TangibleCryptography]

Update 3/25/2013:  We are temporarily OUT OF STOCK and thus not accepting new PO at this time. The company has agreed to more than one large multi-day orders.  To ensure we can meet all obligations and provide the level of service our clients have come to expect we are temporarily suspending new PO for the rest of the week.  We will re-evaluate our liquidity on 04/01.

Update 3/31/2013:  I estimate we will have sufficient supply on 04/03 to begin accepting PO.  We will accept PO on 04/02 dated for 04/03 or later.  Order for dates prior to 04/03 or received prior to 04/02 will not be accepted. 

[DannyHamilton]

- snip -
Update 3/31/2013:  I estimate we will have sufficient supply on 04/03 to begin accepting PO.  We will accept PO on 04/02 dated for 04/03 or later.  Order for dates prior to 04/03 or received prior to 04/02 will not be accepted.  

Having dammed the flow of bitcoins for a while, you may find that the pressure has built.  When you open the floodgates a bit on Tuesday, you may find that the total volume of bitcoins requested via new PO are higher than usual.  I hope you don't have to post another OUT OF STOCK notice in the first 24 hours.

Would you mind sharing the exact time of day that new orders will be accepted, so that those of us interested in ensuring that we get our order in before a new OUT OF STOCK notice know exactly how early to submit the order?  Can I submit the order when it is 4/2 at the International Date Line? Do I need to wait until 4/2 at GMT?  Do I need to wait until 4/2 at your local time (in which case, what timezone are you located in)?

[TangibleCryptography]

Update:  Sorry to do this again but we are still not accepting new PO.  Our incoming coin supply has significantly slowed.  Bitcoin sellers tend to not make a transaction when the price is continually rising (as it has been for pretty much last two weeks).  As a result our volume in bitcoins has been significantly below projection.  To avoid anymore missed deadlines I am not going to provide an ETA.  PO will be available when we have available Bitcoins.

It is an unfortunate (and expected) dynamic that we have seen in the past.  High exchange rate - no problem.  Low exchange rate - no problem.  Slowly rising or falling exchange rate - no problem.  Rapid an unrelenting rise - the flow of coins dries up to nothing.

I apologize to all our clients I made a projection, as I am forced to do pretty much everyday day, but was completely wrong this time.  We will be diversifying over the next thirty days adding two sites offering alternate methods for bitcoiners to sell their coins.  It is our goal that this will expand our available supply. 

[chrcoe01]

that's ok, gives me more time to raise some funds

[DannyHamilton]

I sent a PO request in this morning before you posted the update.  Can I assume that the request will be discarded, or should I watch for a PO?

[TangibleCryptography]

I sent a PO request in this morning before you posted the update.  Can I assume that the request will be discarded, or should I watch for a PO?

Yes sorry it will be declined.  Working though the inbox now to reply to all clients.

[CoinDiver]

The simple solution is to pay a bit more, and charge a bit more.

[DeathAndTaxes]

The simple solution is to pay a bit more, and charge a bit more.

True however Bitcoin is highly variable.  Our highest volume day this year is about 30x that of the lowest.  We may end up floating both rates but until recently sticking with static markups has been highly effective.  It remains to be seen if the prior 10 days is the new normal or just an outlier.  Yes if over a longer period of time the exchange rate continues to rise by 2% to 3% per day then we likely need to adjust our policies.

[TangibleCryptography]

Update 04/04:

We are open again.  On advice of counsel we are no longer accepting cash deposits.  Due to MSB Guidelines released by FinCEN we are awaiting clarification by FinCEN on some regs before accepting cash deposits.  We have filed with FinCEN to be registered as a MSB and have also sought an administrative ruling on the applicability of some sections of MSB regulations related to "virtual currencies".

At this time we will begin accepting PO requests on Sunday (04/07) for wires posting on Monday (04/08) or later.   Previously someone asked for an exact deadline, this has never been an issue before but lets say 00:00:01 EST on Sunday.  Please don't send PO requests early.  We have found that the follow through rate is significantly lower for PO request made more than a day or two in advance.  This just creates uncertainty in our available supply and creates wasted work for our staff.

Existing Clients:
If you need Bank Wire instructions please send a PGP signed and encrypted request to info@tangiblecryptography.com

New Clients:
We are not accepting new clients at this time.  We likely will open the service to new clients next week, depending on demand.

Staff
Tangible Cryptography, LLC

[opentoe]

Update 04/04:

We are open again.  On advice of counsel we are no longer accepting cash deposits.  Due to MSB Guidelines released by FinCEN we are awaiting clarification by FinCEN on some regs before accepting cash deposits.  We have filed with FinCEN to be registered as a MSB and have also sought an administrative ruling on the applicability of some sections of MSB regulations related to "virtual currencies".

At this time we will begin accepting PO requests on Sunday (04/07) for wires posting on Monday (04/08) or later.   Previously someone asked for an exact deadline, this has never been an issue before but lets say 00:00:01 EST on Sunday.  Please don't send PO requests early.  We have found that the follow through rate is significantly lower for PO request made more than a day or two in advance.  This just creates uncertainty in our available supply and creates wasted work for our staff.

Existing Clients:
If you need Bank Wire instructions please send a PGP signed and encrypted request to info@tangiblecryptography.com

New Clients:
We are not accepting new clients at this time.  We likely will open the service to new clients next week, depending on demand.

Staff
Tangible Cryptography, LLC

Pretty soon they'll find something wrong or unlawful with bank wires. You'd think plain old cash would be %100 ok to do. I will never understand how making a cash deposit to a business (paying for something) and then getting something in return (buying something) is unlawful. When bank wires become unlawful, what is next?

I've never done a bank wire before, do the instructions have the process?
Thanks

[fumblefingers]

Bank wires are easy. Just be sure you have the right info.

Once you see how your bank fills out the paperwork, you can probably do it all by email.

I can do mine by email. I print the form, fill it out, scan as .pdf and email to my bank manager.

Couldn't be easier.

Actually, now that I think about it, running to the store with a fistful of cash is much more involved. There is the paper trail, but for the most part, so what?

[TangibleCryptography]

A bump for visibility as we are still getting PO request for funding by cash deposit.

[TangibleCryptography]

Update:  Bitcoins Direct will be open to new clients on 04/09.  See first post for instructions.  You must understand how to use PGP.  If you are unfamiliar with how to install PGP, import a public key, create a keypair, or send an encrypted plain text message you will not be able to use this service.  All client correspondence is by PGP with no exceptions.  We can't provide assistance on learning PGP, sorry we just don't have the time. 

[TangibleCryptography]

New clients:

" You must understand how to use PGP.  If you are unfamiliar with how to install PGP, import a public key, create a keypair, or send an encrypted plain text message you will not be able to use this service.  All client correspondence is by PGP with no exceptions.  We can't provide assistance on learning PGP, sorry we just don't have the time. "

I wish we could be a PGP tutorial service but given the time constraints we have, that simply isn't an option.  If you wish to use this service you should ALREADY have installed a PGP client, created a person keypair, imported our company key and be familiar enough to encrypt a message to us containing your public key export and a brief message.  If you can't do that ... you can't use this service.

[TheButterZone]

I did all that, even practiced by encrypting a message to myself and decrypting it successfully before I imported your key and encrypted one that I emailed to you. Did you get it ok?

[TangibleCryptography]

I did all that, even practiced by encrypting a message to myself and decrypting it successfully before I imported your key and encrypted one that I emailed to you. Did you get it ok?

Probably our inbox is packed.  We are not accepting new PO "yet".  Hopefully sometime today.  If the markets can delivery timely quotes and volatility is less than 30% an hour we will start accepting POs.  I will get funding instruction to all new clients (like yourself) in the next couple hours.

[krncoolwater]

I did all that, even practiced by encrypting a message to myself and decrypting it successfully before I imported your key and encrypted one that I emailed to you. Did you get it ok?

Probably our inbox is packed.  We are not accepting new PO "yet".  Hopefully sometime today.  If the markets can delivery timely quotes and volatility is less than 30% an hour we will start accepting POs.  I will get funding instruction to all new clients (like yourself) in the next couple hours.

What is PO?  Thanks in advance...

[JonSnow]

I did all that, even practiced by encrypting a message to myself and decrypting it successfully before I imported your key and encrypted one that I emailed to you. Did you get it ok?

Probably our inbox is packed.  We are not accepting new PO "yet".  Hopefully sometime today.  If the markets can delivery timely quotes and volatility is less than 30% an hour we will start accepting POs.  I will get funding instruction to all new clients (like yourself) in the next couple hours.

What is PO?  Thanks in advance...

PO = purchase order

[TangibleCryptography]

I did all that, even practiced by encrypting a message to myself and decrypting it successfully before I imported your key and encrypted one that I emailed to you. Did you get it ok?

Probably our inbox is packed.  We are not accepting new PO "yet".  Hopefully sometime today.  If the markets can delivery timely quotes and volatility is less than 30% an hour we will start accepting POs.  I will get funding instruction to all new clients (like yourself) in the next couple hours.

What is PO?  Thanks in advance...

PO = purchase order

Thanks Snow.  This is correct.  The first step is to send a request to purchase coins.  It will be approved or denied and all terms specified.  Once you have an approved PO you can fund the order per funding instructions. 

[TangibleCryptography]

Update 04/15/2013:

Temporary changes in policy due to market conditions.
1) PO requests must be for current day only.  After 5PM EST you can submit PO requests for the following day.  Please don't submit PO request for days further out as we don't have that kind of visibility at this time.
2) No VWAP or multi-day trades.  Max transaction is $10,000 per client per day (first time clients limited to $5,000).
3) Our fee has temporarily been increased to 2.99% to hedge against intra-hour volatility.
4) MtGox has been trading significantly under bitfloor throughout the day.  The "spot price" be the greater of bitfloor & MtGox at the timestamp of wire notification.

We don't like this anymore than you do and will remove restrictions as soon as market conditions allow.  The temporary policies & market volatility increase your exchange rate risk on any transaction at this time.  You should weigh the risk of engaging in a purchase before submitting a PO request.

Staff
Tangible Cryptography, LLC

[TangibleCryptography]

Update 04/18/2013:

We can now accept future dated PO requests as normal.  Max transaction is $10,000 per client per day.

[TangibleCryptography]

Update 04/22/2013:
Transaction fee reduced and maximum transaction size raised in light of reduced volatility and improved exchange performance.

[abracadabra]

Are you still accepting new buyers?

Thanks!

[chrisrico]

Are you still accepting new buyers?

Thanks!

They keep the first post updated with this status.

New clients: [CLOSED]
We are not accepted requests from new clients at this time.

[abracadabra]

Are you still accepting new buyers?

Thanks!

They keep the first post updated with this status.

New clients: [CLOSED]
We are not accepted requests from new clients at this time.

Thanks.  I've added this thread to my watchlist, guess I just missed the opening about 20 days ago.  
It's difficult to tell when/if the first post in thread was ever updated since this forum software doesn't indicate an "Edited" date.
Maybe an email list for notifications of reopening for new accounts?

* abracadabra pokes TC

[zebedee]

Due to volatility, larger orders, multi-day orders, and VWAP pricing is currently unavailable.

I'm curious.  Can you explain?  (Apart from the large order bit) this is very counter-intuitive.

The reason VWAP is generally chosen as a price-determination mechanism is precisely because in thin, volatile markets it's easy to fudge the price at any given time by placing strategic bids or offers or hitting a few bids or lifting a few offers, in order to manipulate the price that is observed by your counterparty.  Believe me I worked in the financial biz and there are all kinds of games played to deceive the naive.

Doing a 24-hr VWAP means that, from TC's point of view, because you buy coins randomly through the day, your average buy price can be expected to match the VWAP, less your bid-mid fee of course, to a reasonable extent, and perhaps more importantly, in an unbiased fashion (sometimes higher, sometimes lower, no real bias).

Therefore, I would have thought that a VWAP would be far more in your interest than an immediate fixing at some random intraday exchange price.

What gives?

[Dabs]

Let me guess. During the time the coins were going from $150 to $200, as it is going up, the VWAP is in the middle, or maybe $170. During the time it is going down, from $266 to $50, the VWAP is also in the middle, or maybe $100.

That's too large a gap, and too unstable and volatile. No one wants to do business that way. The buyers would like a cheap price, but the business will lose. The sellers want a high price, but the buyer will lose.

That's what I think. I would like to order VWAP too, because since I am from another country, the bank wires can take up to 2 days before it gets to TangibleCryptography, and if the value of the bitcoin has gone up in those 2 days, naturally, I don't want that.

[TangibleCryptography]

Let me guess. During the time the coins were going from $150 to $200, as it is going up, the VWAP is in the middle, or maybe $170. During the time it is going down, from $266 to $50, the VWAP is also in the middle, or maybe $100.

That's too large a gap, and too unstable and volatile. No one wants to do business that way. The buyers would like a cheap price, but the business will lose. The sellers want a high price, but the buyer will lose.

Correct.  In normal markets VWAP is preferable for both us and large clients.  The largest transactions we have done are in excess of 1,000 BTC.  Obviously there is significant "timing risk" if a single spot price is used.

However lately markets haven't been "normal" not even by Bitcoin standardards.  As intra-day volatility increases our purchases tend not to be randomly distributed.  Sellers will wait (as they should) for peaks and spikes to sell us coins.  This means we generally are buying (before our fee) at higher than VWAP.  The problem is compounded by the fact that the daily swing is larger than normal AND when the swing is high the average buying price is pushed to the upper end of the range.

We partially mitigate this by using exchange accounts and selling into rallies and buying into dips to "normalize" our average buying price.

The markets are settling down and we should be able to resume larger sales, VWAP sales, and multi-day contracts again.

That's what I think. I would like to order VWAP too, because since I am from another country, the bank wires can take up to 2 days before it gets to TangibleCryptography, and if the value of the bitcoin has gone up in those 2 days, naturally, I don't want that.

For spot orders (up to $10,000) we will lock in the rate in effect at the timestamp you SEND the wire (and notify us by email).  If price rises over the next two days it won't affect your buying price.  We can do this because we essentially are selling you the coins at the time you send funds.  Delivery of said coins simply needs to wait until funds post.

i.e. you wire $10,000 and the exchange rate is $200.  Ignoring our fee to make the math simple at this point you are long 50 BTC and we are long the incoming wire USD balance.  Delivery will occur once certified funds post (normally within hours for domestic wires, and within 2-3 days for international ones). 

[TangibleCryptography]

Doing a 24-hr VWAP means that, from TC's point of view, because you buy coins randomly through the day, your average buy price can be expected to match the VWAP, less your bid-mid fee of course, to a reasonable extent, and perhaps more importantly, in an unbiased fashion (sometimes higher, sometimes lower, no real bias).

Our supply of coins comes from FC4B and there is a bias in the price we pay.  Normally our price will be slightly higher than the VWAP for the same period.  Now we collect a premium on those purchases so this bias is usually within the margin of our fees.  However when the prices moves 50%+ per day this causes the sales to become highly random and hard to predict.  We could get a lot of panic sellers providing us coins at the lowest point of the day but it is more likely the upside bias increases as smart sellers look to sell into spikes and peaks.

We hedge this somewhat by buying/selling on exchanges throughout the day but in laggy fast moving markets there is risk in even attempting to do this.

TL/DR:
as intra-day volatility increases our average acquiring price is biased more to the upside and our ability to mitigate that risk (hedging via exchanges) is reduced.

Therefore, I would have thought that a VWAP would be far more in your interest than an immediate fixing at some random intraday exchange price.

It is very much so in more normal markets however 50% moves, DDOS, and unsure order execution are not exactly normal markets.

That being said we should be able to restore larger orders, VWAP pricing, and multi-day contracts in the near future.

[TangibleCryptography]

Update 04/29

Fee has been reduced to just 0.89%.
Full funding amounts, VWAP pricing, and multi-day contracts are again available.
For wires sent on 05/01 or later our wire account has changed to Wells Fargo.  Send a request for updated funding instructions.
At this time we are no longer able to accept international bank wires (originated from non-US bank) due to heightened KYC requirements for foreign funds.

[Dabs]

What's KYC?

How about international bank wires in USD?

[TheButterZone]

http://lmgtfy.com/?q=kyc

[Bitco]

For wires sent on 05/01 or later our wire account has changed to Wells Fargo.  Send a request for updated funding instructions.

Did you drop PNC or did they close your account?

PNC recently sent out a notice to their customers that they will be changing their terms to require a PayPal-style arbitration agreement.  Customers that opt out receive a notice that their account will be closed in 30 days.  Some of PNC's (former) customers are not happy with this.

[Dabs]

http://lmgtfy.com/?q=kyc

Thanks. Normally that's just what I'd do; google it. I figured KYC was another one of those slang acronyms and wouldn't register in a search. Thank you for pointing that out, sometimes the obvious isn't.

Know your customer (KYC) refers to due diligence activities that financial institutions and other regulated companies must perform to ascertain relevant information from their clients for the purpose of doing business with them.

Now my question is, what if I were to voluntarily supply the needed information. The other question was about international bank wires denominated in US dollars, or maybe it's part of the same question.

[twelph]

Just wanted to chime in here that I've been doing business through you guys well before I even had a Bitcointalk forum account. I watched as exchanges closed down or messed things up, and as people waited in massive queues on MTGOX. Thanks for the professional and quick service, you are the best!

[chrisrico]

Question: what banks do people use for personal accounts that offer same-day wire transfers, preferably initiated online?

My credit union SUCKS when it comes to this (and anything online-banking related), so I'm strongly considering switching.

[TangibleCryptography]

Question: what banks do people use for personal accounts that offer same-day wire transfers, preferably initiated online?

My credit union SUCKS when it comes to this (and anything online-banking related), so I'm strongly considering switching.

Bank Of America & Wells Fargo both allow sending wires from online banking.  I believe you need to call to enable bank wires but once setup you should be able to execute them online.  This is based on information from customers and may be dated so always verify with the bank before opening an account.

[BCB]

I've used Citibank, Wells Fargo and Bank of America personal accounts to wire funds to Bitcoins Direct.  The Fees range between 18 (BofA) to 30(WF) for same day wire transfer (we are both in the United State).  Actual same day delivery time is usually with in the hour (in my experience).

For Citibank and Bank of America you can create a wire payee and send online.  (Some banks will also need to verbally confirm the payee you are adding the first time by a phone call to avoid fraud.  The Bank will not leave a message if they call you and get voice mail if you do not state your name on your out going message.  I've delayed some initial transfers due to this).  The wire just silently failed and I had to follow up with the bank to find out what happened.     

For Wells Fargo personal accounts there is no online function.  I actually had to go into the bank to add Bitcoins Direct to send a wire.   I prefer Wells Fargo for their p2p payment function (only between personal account).

Also, as all other clients have commented here, I've always received nothing but prompt payment and outstanding customer service the many times I've purchased coin from Bitcoins Direct.  Thank you.

[DeathAndTaxes]

I've used Citibank, Wells Fargo and Bank of America personal accounts to wire funds to Bitcoins Direct.  The Fees range between 18 (BofA) to 30(WF) for same day wire transfer (we are both in the United State).  Actual same day delivery time is usually with in the hour (in my experience).

For Citibank and Bank of America you can create a wire payee and send online.  (Some banks will also need to verbally confirm the payee you are adding the first time by a phone call to avoid fraud.  The Bank will not leave a message if they call you and get voice mail if you do not state your name on your out going message.  I've delayed some initial transfers due to this).  The wire just silently failed and I had to follow up with the bank to find out what happened.     

For Wells Fargo personal accounts there is no online function.  I actually had to go into the bank to add Bitcoins Direct to send a wire.   I prefer Wells Fargo for their p2p payment function (only between personal account).

Also, as all other clients have commented here, I've always received nothing but prompt payment and outstanding customer service the many times I've purchased coin from Bitcoins Direct.  Thank you.

Thanks for the detailed comparison.  Very helpful for new and potential clients.  Bank Wires are pretty simple for those who have done them in the past but they can be somewhat intimidating.

One thing I would add is that anytime you talk to your bank use the exact words "BANK WIRE".  Don't use any slang or other terms ("I need to transfer funds", "account to account transfer", "send money").  For clients who ran into problems it usually is their bank making a mistake because they DIDN'T use the words "BANK WIRE" and the bank assumed they wanted to do an ACH (Direct Deposit) transaction for example.  To any new or potential clients (or even new client of other exchanges/brokers) the word "BANK WIRE" has an exact and specific meaning that is the same at any bank, anywhere in the world.  Save yourself some time and confusion by making sure to only use those words when talking with your bank.

[koin]

"BANK WIRE" has an exact and specific meaning that is the same at any bank, anywhere in the world.

domestic transfer in the u.s. uses fedwire with funds sent to a bank by its fed routing number.   international transfer to a bank in the u.s. uses swift (only if the bank participates in the swift network) and funds set to a bank by its swift code.  so even "bank wire" can mean multiple things based on the circumstances.

[Dabs]

One thing I would add is that anytime you talk to your bank use the exact words "BANK WIRE".  Don't use any slang or other terms ("I need to transfer funds", "account to account transfer", "send money").  For clients who ran into problems it usually is their bank making a mistake because they DIDN'T use the words "BANK WIRE" and the bank assumed they wanted to do an ACH (Direct Deposit) transaction for example.  To any new or potential clients (or even new client of other exchanges/brokers) the word "BANK WIRE" has an exact and specific meaning that is the same at any bank, anywhere in the world.  Save yourself some time and confusion by making sure to only use those words when talking with your bank.

Hi. I'm an international customer, but you are not currently accepting bank wires from abroad. Can I get my cousin or uncle who has a US bank account to wire you the money? I make the PO, I get the funding instructions, I tell my uncle to send you the BANK WIRE. Then I get the bitcoins. (I'll pay my uncle later.)

[TangibleCryptography]

One thing I would add is that anytime you talk to your bank use the exact words "BANK WIRE".  Don't use any slang or other terms ("I need to transfer funds", "account to account transfer", "send money").  For clients who ran into problems it usually is their bank making a mistake because they DIDN'T use the words "BANK WIRE" and the bank assumed they wanted to do an ACH (Direct Deposit) transaction for example.  To any new or potential clients (or even new client of other exchanges/brokers) the word "BANK WIRE" has an exact and specific meaning that is the same at any bank, anywhere in the world.  Save yourself some time and confusion by making sure to only use those words when talking with your bank.

Hi. I'm an international customer, but you are not currently accepting bank wires from abroad. Can I get my cousin or uncle who has a US bank account to wire you the money? I make the PO, I get the funding instructions, I tell my uncle to send you the BANK WIRE. Then I get the bitcoins. (I'll pay my uncle later.)

Sorry no.  We can't accept funds from any third party on your behalf.

[Dabs]

Sorry no.  We can't accept funds from any third party on your behalf.

Is this due to all the new regulations and guidelines? You've effectively cut off all your international customers. So should I just get my uncle to actually order from you? I'd have to teach him GPG. Haven't you thought of the possibility that the third party might allow his name to be used, but the actual buyer is someone else who knows GPG?

[leinem]

 Site completed ?

[TangibleCryptography]

Sorry no.  We can't accept funds from any third party on your behalf.

Is this due to all the new regulations and guidelines? You've effectively cut off all your international customers. So should I just get my uncle to actually order from you? I'd have to teach him GPG. Haven't you thought of the possibility that the third party might allow his name to be used, but the actual buyer is someone else who knows GPG?

Yes.  We also understand this limits the service to US customers at the current time.  No you can't use a third party.  While it may be possible for you to "fool us" if we find out we are obligated to halt the transaction and file a SAR (Suspicious Activity Report).  Yes we understand it is possible for someone to allow their bank account to be used, it is possible for someone to get another person to open a bank account in their name to get around various AML/KYC procedures.  For illegal activitity this probably happens on a daily basis.

It doesn't matter how nonsensical the rules are noncompliance is noncompliance.

TL/DR:
a) we can only accept wires from US banks at the current time.
b) there is no ETA on when we will be able to accept international wires.
c) you can not have a third party process a transaction for you.

Now if someone were to buy some coins from us and they chose to sell them to you well that is beyond the scope of our business.

[justusranvier]

Haven't you thought of the possibility that the third party might allow his name to be used, but the actual buyer is someone else who knows GPG?

It doesn't do anyone any good to talk about potential ways to bypass Bitcoin Direct's AML policy.

I'm positive they would rather devote their time to better serving customers, but unfortunately they have to operate in an environment in which doing that would get their bank accounts closed, business shut down, assets seized, and possibly involve them being kidnapped and thrown into cages. it's not that they don't want you as a customer, it's that there's a literal gun to their head restricting their ability to do business with you.

So don't take theses rules personally, and if you find some way to bypass them don't publicize it. As soon as they become aware of a way to bypass their policy they have to start thinking about additional precautions,, which means they now have to devote their time to finding ways to stay in compliance instead of selling Bitcoins.

[Dabs]

I'm not going to be laundering any money. I just want to buy bitcoins.

The uncle I mentioned is a blood relative (brother of my father) and we share the same last name (surname.) I can teach him to buy using GPG, but he's a senior citizen so that might involve more than a couple of emails and chats. He's been living in the United States for more than 30 years with 3 children (my cousins) and a few grandchildren.

It's that, or I fly to the US and open a US bank account; although that's going to be a problem for me since I've given up my green card years ago. I will have to fly in and land as a tourist on a multiple entry visa. I used to have a US bank account about 10 years ago when I was studying in UIC (University of Illinois in Chicago) and Northwestern University. So I had a state ID, a US driver's license, and of course my student ID. All expired now of course.

I want to buy as myself, not posing as someone else.

This could also be my excuse to revisit Six Flags or MGM or Florida. (I took a long road trip from IL to FL, with family, close to winter time.)

[Dabs]

You probably need to look for a new source of bitcoins, and give up on purchasing them from BitcoinsDirect.  Trying to find ways around their policy is just going to force them to have to try to prevent you from doing so.  Telling everyone in the world in BitcoinDirect's forum thread how you plan to circumvent their policy is making it easier for them to identify your efforts and prevent you from doing so.

BitcoinsDirect has legal obligations.  They are not going to risk their business and potentially their freedom to help you circumvent those obligations.

I'm not trying to circumvent or find ways around. I am trying to be in full compliance. If it means I have to be in the US, I just want to be clear about that before I buy my $3000 plane ticket or visit the US Embassy in my country to apply for a $200 visa. So when the immigration officer asks me "business or pleasure?" I can honestly say "a little bit of both."

That also means, I am fully documented by the US government and BitcoinsDirect should have no problem accepting my money once I legally open a US domestic bank account.

If I wanted to go around, I'd have done it already. Also, I'm not announcing that someone else could have done it as that goes without saying.

The alternative is to do business with an offshore competitor, if they even exist.

I probably won't even do it then, as it will cost me more to travel, than I would have wanted to buy only bitcoins. So, I'm just asking, in case I'm actually going there.

[TangibleCryptography]

As long as your wire is made from a US bank you are fine.
As for foreign competitors, I certainly hope we get some.

[Dabs]

As long as your wire is made from a US bank you are fine.
As for foreign competitors, I certainly hope we get some.

That's good to know. Would it matter what bank? Or let me rephrase that, will it be better if I opened an account at Wells Fargo?

[TangibleCryptography]

As long as your wire is made from a US bank you are fine.
As for foreign competitors, I certainly hope we get some.

That's good to know. Would it matter what bank? Or let me rephrase that, will it be better if I opened an account at Wells Fargo?

It doesn't matter.  Any bank can wire funds to any other bank in minutes.  The need for US based bank is US based banks follow certain KYC (Know your customer) procedures (proof of identity, checking against terrorist watchlist, etc).  Foreign banks "may" not follow similar procedures which increases the KYC requirements for MSB.  We simply don't have the time or resources to follow those enhanced KYC procedures so we opt out of accepting foreign wires.  You can thank the US government for that burden.

[neil_mccauley]

Just made my first USD Wire to BTC transaction with TC and everything went perfect.  Thanks guys!

[phishphood]

This was my first wire with TC but not my first transaction.  Everything went smooth as ever and I had my coins in a matter of hours.  This cat is highly recommended!

[DeathAndTaxes]

Update:  Lots of coins available.

[DannyHamilton]

Update:  Lots of coins available.

That wouldn't have anything to do with the turnover of 40,000 BTC at MtGox a bit over an hour ago, would it? 

Perhaps you managed to get some cheap purchases in as the exchange rate dropped to $109.42 and then bounced right back up to $116?

[DeathAndTaxes]

Update:  Lots of coins available.

That wouldn't have anything to do with the turnover of 40,000 BTC at MtGox a bit over an hour ago, would it?  

Perhaps you managed to get some cheap purchases in as the exchange rate dropped to $109.42 and then bounced right back up to $116?

Well we have had high volume regardless of the spike but yes we generally keep orders on multiple markets to soak up "panic supply" so we got even more coins than normal.

[DeathAndTaxes]

I did all that, even practiced by encrypting a message to myself and decrypting it successfully before I imported your key and encrypted one that I emailed to you. Did you get it ok?

Probably our inbox is packed.  We are not accepting new PO "yet".  Hopefully sometime today.  If the markets can delivery timely quotes and volatility is less than 30% an hour we will start accepting POs.  I will get funding instruction to all new clients (like yourself) in the next couple hours.

Still nothing, not in spam or trash folders. Was just told by someone else that they got instructions from you.

Please send another request.  That prior message is from over a month ago.  To my knowledge all emails have been responded to.

[EPiSKiNG]

Is Tangible Cryptography a registered Money Service Business?

Thanks!
-EP

[TangibleCryptography]

Is Tangible Cryptography a registered Money Service Business?

Thanks!
-EP

Yes.
https://bitcointalk.org/index.php?topic=167570

[EPiSKiNG]

Is Tangible Cryptography a registered Money Service Business?

Thanks!
-EP

Yes.
https://bitcointalk.org/index.php?topic=167570

\

Was it expensive and/or difficult?  PM me if you'd like... Or if I'm being too nosy, just ignore me.

Thanks!
-EP

[JonSnow]

Is Tangible Cryptography a registered Money Service Business?

Thanks!
-EP

Yes.
https://bitcointalk.org/index.php?topic=167570

\

Was it expensive and/or difficult?  PM me if you'd like... Or if I'm being too nosy, just ignore me.

Thanks!
-EP

It's free to register with FinCEN as an MSB ...

[scarab2378]

Tangible, I sent you an email (encrypted as per your instructions) about 2 hours ago, and requested wiring instructions.  Did you receive it?

 I think its too late to send a wire today at this point, because of my bank's cut off time (but I really needed to send it today).  Please advise.

[TangibleCryptography]

Tangible, I sent you an email (encrypted as per your instructions) about 2 hours ago, and requested wiring instructions.  Did you receive it?

 I think its too late to send a wire today at this point, because of my bank's cut off time (but I really needed to send it today).  Please advise.

I don't see a request.  Please send it again.  Ensure you are sending it to info@tangiblecryptography.com

[scarab2378]

Tangible, I sent you an email (encrypted as per your instructions) about 2 hours ago, and requested wiring instructions.  Did you receive it?

 I think its too late to send a wire today at this point, because of my bank's cut off time (but I really needed to send it today).  Please advise.

I don't see a request.  Please send it again.  Ensure you are sending it to info@tangiblecryptography.com

I just re-sent it again.  9:57pm PST (12:57am EST)
 subject line: New client wants to buy bitcoins

[twelph]

Trying my best to get some bitcoins by this weekend, sent a couple of emails but no replies.

Edit: Better luck next week I guess .

[scarab2378]

@TangibleCrypto

I emailed you my public key so you can decrypt my emails to you.  I would like to wire you the funds today, but we are getting near my bank's cutoff time to send wires.  Please advise.

[abracadabra]

I think TC might be away for a bit.  He's at the conference.

https://bitcointalk.org/index.php?topic=90192.msg2176524#msg2176524

[opentoe]

I'm not going to be laundering any money. I just want to buy bitcoins.

The uncle I mentioned is a blood relative (brother of my father) and we share the same last name (surname.) I can teach him to buy using GPG, but he's a senior citizen so that might involve more than a couple of emails and chats. He's been living in the United States for more than 30 years with 3 children (my cousins) and a few grandchildren.

It's that, or I fly to the US and open a US bank account; although that's going to be a problem for me since I've given up my green card years ago. I will have to fly in and land as a tourist on a multiple entry visa. I used to have a US bank account about 10 years ago when I was studying in UIC (University of Illinois in Chicago) and Northwestern University. So I had a state ID, a US driver's license, and of course my student ID. All expired now of course.

I want to buy as myself, not posing as someone else.

This could also be my excuse to revisit Six Flags or MGM or Florida. (I took a long road trip from IL to FL, with family, close to winter time.)

Really, isn't it easier to just find another service or way to buy bitcoin?

[TangibleCryptography]

Tangible, I sent you an email (encrypted as per your instructions) about 2 hours ago, and requested wiring instructions.  Did you receive it?

 I think its too late to send a wire today at this point, because of my bank's cut off time (but I really needed to send it today).  Please advise.

I don't see a request.  Please send it again.  Ensure you are sending it to info@tangiblecryptography.com

I just re-sent it again.  9:57pm PST (12:57am EST)
 subject line: New client wants to buy bitcoins

Yeah I keep getting blank emails from you as indicated in the email I sent you.  Please don't clutter this thread with a duplicate of our email thread.

[TangibleCryptography]

I think TC might be away for a bit.  He's at the conference.

https://bitcointalk.org/index.php?topic=90192.msg2176524#msg2176524

That is correct, at the conference.  Was out of contact yesterday due to some horrible travel.  No bank posts wires on weekends but I can accept PO requests remotely for Monday delivery.

[TangibleCryptography]

Update:
Have more coins to sell.

[TangibleCryptography]

Update:
As a reminder, monday is a banking holiday.  If you want to purchase coins before Tuesday you have a couple hours to get your bank wire in.

[MikeMike]

A word of thanks!

For all the professional help received.
My numerous questions were answered in a most Professional manner.

[TangibleCryptography]

A word of thanks!

For all the professional help received.
My numerous questions were answered in a most Professional manner.

Glad we could help.  PGP can be a little tricky getting setup but after the first couple messages encrypted and decrypted it really is no more complex than email or an instant messaging program.

And to everyone else.  Bump.  More coins are always available.  It is 1PM EST.  If you have last minute BTC needs for the weekend your wire needs to post by 5PM EST for same day delivery. 

[TangibleCryptography]

Important announcement effective 31 May, 2013:

https://bitcointalk.org/index.php?topic=224057

This thread has been locked.
If you have a pressing support issue please send an email to info@tangiblecryptography.com