[ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace - page 30.

chrisrico

hero member

Activity: 496

Merit: 500

Quote from: jtibble on January 29, 2013, 09:41:54 AM

P.S. What's to stop me exploiting this with other sellers, submitting a 'buy' order, then waiting several days to complete it, and getting the coins at an extreme discount vs the current market spot price? My morals and scruples say 'no, don't do that', but it would be good (I think) if your service codified it.

A contact is not a contract to buy at a set price. The seller is free to cancel the deal and make you create a new one.

jtibble

newbie

Activity: 52

Merit: 0

Hi again everybody, and Kangasbros!

Another feature request: The ability to chose how long to lock-in a price for, as another parameter in the ad-creation process.

Like this: I create a "sell" add with my formula, and as part of that process I can specify how long after a buyer submits their request that I will honor the price decided upon.

For example, I want to limit my contacts to 2 days, max. Because the price is rising 5% per day (it seems), if somebody sends me a 'buy' request and it takes me four days to actually sell them the coins, I'm losing a lot of money, even if my margins are 9%!

However, if I can specify how long the price is locked-in for, it lets me cancel the transaction and still save face if the wait is too long. I have my 'seller message' saying that I only honor prices for two days, but it seems like a good idea to allow people to search or sort by this sort of option.

Thoughts?

Thanks,
jtibble

P.S. What's to stop me exploiting this with other sellers, submitting a 'buy' order, then waiting several days to complete it, and getting the coins at an extreme discount vs the current market spot price? My morals and scruples say 'no, don't do that', but it would be good (I think) if your service codified it.

spiccioli

legendary

Activity: 1379

Merit: 1003

nec sine labore

Quote from: kangasbros on January 29, 2013, 07:33:04 AM

Quote from: spiccioli on January 29, 2013, 03:22:07 AM

Another problem, this is bigger and could result in a kind of DOS attack to those offering the escrow service:

right now someone bought some coins from me and marked payment as done

Escrow L1995B1JF advertisement #3674

BUT payment has not been done AND I cannot cancel the trade!?!

What if I get 10 such trades? How can I cancel the trade if I don't receive payment?

spiccioli

Hi, in these cases it goes through our dispute mediation. We handle these cases manually.

We are working on a feature which allows invidual sellers to set limits, such as how much a new user can buy. Also we might enforce some kind of limit for new accounts.

Thanks kangasbros, I've written to support@... to handle this trade.

Best regards.

spiccioli

kangasbros

hero member

Activity: 812

Merit: 1006

Quote from: spiccioli on January 29, 2013, 03:22:07 AM

Another problem, this is bigger and could result in a kind of DOS attack to those offering the escrow service:

right now someone bought some coins from me and marked payment as done

Escrow L1995B1JF advertisement #3674

BUT payment has not been done AND I cannot cancel the trade!?!

What if I get 10 such trades? How can I cancel the trade if I don't receive payment?

spiccioli

Hi, in these cases it goes through our dispute mediation. We handle these cases manually.

We are working on a feature which allows invidual sellers to set limits, such as how much a new user can buy. Also we might enforce some kind of limit for new accounts.

spiccioli

legendary

Activity: 1379

Merit: 1003

nec sine labore

Another problem, this is bigger and could result in a kind of DOS attack to those offering the escrow service:

right now someone bought some coins from me and marked payment as done

Escrow L1995B1JF advertisement #3674

BUT payment has not been done AND I cannot cancel the trade!?!

What if I get 10 such trades? How can I cancel the trade if I don't receive payment?

spiccioli

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Stephen Gornick on January 24, 2013, 04:44:34 PM

Feature request:

Ability for me to cause a new deposit address to be generated for my account.

Currently, the blockchain shows all my deposits to a single Bitcoin address for my wallet at LocalBitcoins.

The whole concept of there being a new Bitcoin address for each transaction is so that privacy is maximized. If I am restricted to a single Bitcoin address, then someone might figure out from a deposit transaction to LocalBitcoins which transaction was mine and then see how many coins I've deposited since I first created my LocalBitcoins account.

hm? if I click on "wallet" I can see a box to the right with my past Addresses (there is three of them currently plus the "active" one). I think a new one is generated when you send to the current one... but I'm not sure.

spiccioli

legendary

Activity: 1379

Merit: 1003

nec sine labore

Hi kangasbros,

I'm just back in my office after my lunch break and I've found out that during this time someone acquired some bitcoins from me and payed them, but now the escrow deal shows:

Escrow L1932B1HO advertisement #3674
Status: Payment not marked complete within the time window, purchase canceled automatically.

I don't know how long it waits, but maybe a longer time window would make things easier or even having the deal marked but not automatically cancelled.

Thanks.

spiccioli.

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Feature request:

Ability for me to cause a new deposit address to be generated for my account.

Currently, the blockchain shows all my deposits to a single Bitcoin address for my wallet at LocalBitcoins.

The whole concept of there being a new Bitcoin address for each transaction is so that privacy is maximized. If I am restricted to a single Bitcoin address, then someone might figure out from a deposit transaction to LocalBitcoins which transaction was mine and then see how many coins I've deposited since I first created my LocalBitcoins account.

spiccioli

legendary

Activity: 1379

Merit: 1003

nec sine labore

Quote from: kangasbros on January 20, 2013, 03:29:18 AM

Quote from: spiccioli on January 17, 2013, 01:21:32 PM

Hi kangasbros,

I'm located in Italy and I've sent it to +43 676 800505463.

Sending a message to that number costs me 0,30 € so, for small transactions, sending two or more SMSes can eat my already very small margin!

BTW, there are several numbers listed in every deal; which number points to the first backend and which one to the second?

How do I select which number to use to send SMS? Right now I'm using the one of the Nation nearer to me.

spiccioli

Unofrunately it seems our SMS provider doesn't have numbers from italy, otherwise we would just buy one from there. Meanwhile Austrian (+43676800505463), Swedish (+46769436195) and UK (+447937947654) numbers should work internationally.

Also with the SMS system, it should always return the message. So to test it, you can try sending some fake release SMS code, and it should return "Invalid code" response. If I would do it again, I wouldn't probably do the SMS system - it has turned out to be somewhat unreliable technology. Initially I thought that SMS messages are robust, but that was a mistake.

Hi kangasbros,

I've used the Austrian number since it has been available and it failed one time in six. Now I've made a couple more tests resending an already used REL code and it answered me both times.

So, for the time being I'll keep using it, we shall see how it goes.

spiccioli.

2weiX

legendary

Activity: 2072

Merit: 1006

this space intentionally left blank

how about implementing SMS via http://www.txt4coins.net/, paid for by the 1% commission you guys take?

bitster

newbie

Activity: 53

Merit: 0

My adds are not showing up on the map.

kangasbros

hero member

Activity: 812

Merit: 1006

Quote from: spiccioli on January 17, 2013, 01:21:32 PM

Hi kangasbros,

I'm located in Italy and I've sent it to +43 676 800505463.

Sending a message to that number costs me 0,30 € so, for small transactions, sending two or more SMSes can eat my already very small margin!

BTW, there are several numbers listed in every deal; which number points to the first backend and which one to the second?

How do I select which number to use to send SMS? Right now I'm using the one of the Nation nearer to me.

spiccioli

Unofrunately it seems our SMS provider doesn't have numbers from italy, otherwise we would just buy one from there. Meanwhile Austrian (+43676800505463), Swedish (+46769436195) and UK (+447937947654) numbers should work internationally.

Also with the SMS system, it should always return the message. So to test it, you can try sending some fake release SMS code, and it should return "Invalid code" response. If I would do it again, I wouldn't probably do the SMS system - it has turned out to be somewhat unreliable technology. Initially I thought that SMS messages are robust, but that was a mistake.

Quote from: giszmo on January 19, 2013, 04:27:45 PM

I just lost 10% on selling gold and wonder if it wouldn't make sense to not only use localbitcoins to advertise Ƀ <-> Fiat exchanges but also all kind of gold/FiatFiat/… exchanges.

Given you really try to earn on the transaction volume this might not be what you want but first it could get gold bugs to bitcoin and second it could turn out to be monetizable just as well.

We will add gold/silver etc at some point, but it is somewhat niche feature so it is not high priority.

giszmo

legendary

Activity: 1862

Merit: 1114

WalletScrutiny.com

I just lost 10% on selling gold and wonder if it wouldn't make sense to not only use localbitcoins to advertise Ƀ <-> Fiat exchanges but also all kind of gold/FiatFiat/… exchanges.

Given you really try to earn on the transaction volume this might not be what you want but first it could get gold bugs to bitcoin and second it could turn out to be monetizable just as well.

spiccioli

legendary

Activity: 1379

Merit: 1003

nec sine labore

Quote from: kangasbros on January 17, 2013, 04:12:27 AM

Quote from: spiccioli on January 17, 2013, 02:28:27 AM

Hi,

I've just released a little sum to a buyer via the SMS service, REL 3MWSCU97EK, I did not receive back the confirmation SMS though.

Is the SMS service a guaranteed delivery one or not?

spiccioli

ps. I'd pay a little more to be sure that funds have been released, last thing I want is to be somewhere with buyer's cash in hand without knowing whether BTC have been released or not.

Where are you located/what number did you use? We try to make the SMS delivery system as bulletproof as possible, we have now 2 sending backends . if the primary one fails, it uses the secondary. However it seems that there are still problems, at least delays. We will research the SMS system, maybe try sending each release message two times just to be sure.

Hi kangasbros,

I'm located in Italy and I've sent it to +43 676 800505463.

Sending a message to that number costs me 0,30 € so, for small transactions, sending two or more SMSes can eat my already very small margin!

BTW, there are several numbers listed in every deal; which number points to the first backend and which one to the second?

How do I select which number to use to send SMS? Right now I'm using the one of the Nation nearer to me.

spiccioli

kangasbros

hero member

Activity: 812

Merit: 1006

Quote from: spiccioli on January 17, 2013, 02:28:27 AM

Hi,

I've just released a little sum to a buyer via the SMS service, REL 3MWSCU97EK, I did not receive back the confirmation SMS though.

Is the SMS service a guaranteed delivery one or not?

spiccioli

ps. I'd pay a little more to be sure that funds have been released, last thing I want is to be somewhere with buyer's cash in hand without knowing whether BTC have been released or not.

Where are you located/what number did you use? We try to make the SMS delivery system as bulletproof as possible, we have now 2 sending backends . if the primary one fails, it uses the secondary. However it seems that there are still problems, at least delays. We will research the SMS system, maybe try sending each release message two times just to be sure.

spiccioli

legendary

Activity: 1379

Merit: 1003

nec sine labore

Hi,

I've just released a little sum to a buyer via the SMS service, REL 3MWSCU97EK, I did not receive back the confirmation SMS though.

Is the SMS service a guaranteed delivery one or not?

spiccioli

ps. I'd pay a little more to be sure that funds have been released, last thing I want is to be somewhere with buyer's cash in hand without knowing whether BTC have been released or not.

SolarSilver

legendary

Activity: 1112

Merit: 1000

Quote from: saddambitcoin on January 16, 2013, 07:21:11 PM

it was very easy, although i wish that the exchange rate could be done on the fly when the seller receives payment and sends the SMS to localbitcoins to release funds.

You can still do that, if you keep the amount of BTC fixed, you can calculate the right amount of EUR or $CAD at the moment you do the exchange. It's not very practical of course as most people want to pay with a round number (they buy EUR 100 worth of BTC and not EUR 98.79)

saddambitcoin

legendary

Activity: 1610

Merit: 1004

just sold someone their first bitcoins today, my first time going through the process. it was very easy, although i wish that the exchange rate could be done on the fly when the seller receives payment and sends the SMS to localbitcoins to release funds.

jtibble

newbie

Activity: 52

Merit: 0

Hey Kangasbros, another couple of feature requests:

- Ability to remove contacts from my dashboard. I have a lot of 'cancelled' contracts and they're cluttering up the screen, making it hard to find the ones that actually got released (for accounting purposes).

- Ability to sort my listings by city/zipcode. I think right now they're sorted by date created, which makes it hard to find the one I'm looking for

- Ability to change the message across all of my buy or sell advertisements at the same time.

- Ability to change my transaction limits across all my buy/sell ads at the same time, too.

Thanks again for all your hard work on this site! Keep promoting and building it up!

giszmo

legendary

Activity: 1862

Merit: 1114

WalletScrutiny.com

Quote from: molecular on January 11, 2013, 07:11:01 AM

A listing fee would also be bad because kangasbros definitely wants to encourage listings. I would pay one if reasonable, though.

kangasbros have geo-data. How about a listing fee that depends on the market density? As long as you are the only one to list in your city, you get the next month for free.

I doubt that beyond the first listing in a city, having people list is of any value. Nobody wants spammy listings or listings by unresponsive people. The fee can be really small to start with but it will weed out the poor listings.

Topic: [ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace - page 30. (Read 126170 times)