I too, am busy today. If you are sending me a MTGOX code, I'd prefer that communication to come from Maged via internet relay chat (if possible, and yes I can wait for a time that is convenient for him).
I will also accept a BTC payment directly if you guys want to just keep this denominated entirely in bitcoin - I just want the bitcoins really and we can estimate the market value. I say, bravo! we guessed $11 correctly.
1Gb2Aew6F8cusSRWazrATfZ67HRHjo1Q5r is a new payment address just for this situation if you guys just want to return the coins.
I'm open to whatever and really in no rush but we can conclude this at a time that is convenient for everyone.
I'll be more available tomorrow between 9AM-6PM CST on irc and here.
Well, since I'm the one coordinating the payments, I suppose that this is my call. I have no problem keeping this in bitcoin. So, here's what we'll do to keep to the original terms (which you guys can still change, if you'd like to and you both agree):
1) I'll receive bitcoins from smoothie at the address 1AcCFPtehTbBbdsDrZVbHZhmggusW5XfmP (smoothie has a signed message from me that says this)
2) If the amount is greater than $550 USD worth of BTC, I will "convert" them to "USD" at MtGox last. This "conversion" will happen no later than 6 confirmations after the funds are sent and will be backdated to such time if I'm not around to see the transaction during that window. So, in the worst case, this is like sending money to an exchange. Smothie has gracefully decided to give me the difference between $550 and what he sends as a tip. Thanks! I will be liable for changes in the price from this point on until I send the funds to jcpham.
3) The 50 BTC escrow will be released to smoothie.
4) I will "convert" $550 "USD" to BTC and send it within a few minutes of the "conversion". Because jcpham is accepting the value in bitcoins, this would be like me making the conversion for him at an exchange and sending it to him. Thus, the transaction is considered over (as well as my obligation to the bitcoin price) once my bitcoin transaction to jcpham hits the network, except that I get a small window to make the "conversion" (realistically, this will just be 1-2 minutes as I do a little math).
Convoluted? Sure. But that's what happens when both sides of an agreement decide to accept their funds in the opposite currency.
However, you'll find that each half of this transaction is being handled according to common practices for when you are transacting in other currencies over the bitcoin network. But don't get confused: since I'm not charging a fee for the "conversions", this is still cheaper than actually doing a conversion.