Topic: Anyone tried this LocalBitcoins alternative ? - page 2. (Read 4341 times)

...

For the first time, localbitcoins failed me.  I made an appointment to meet someone new for me to buy BTC, but we could not agree on price.  He wanted 12% over "spot", too much!  I offered 8% (more than I ever had paid before, typically 5% - 6%), he would not agree.

Lesson learned: I should have negotiated this beforehand, grr... 

Still, now I know, document everything before.

I participated in it. But, it is over now. They were very quick at payment.

Well I wouldn't say mass adoption is they key, most start ups now are getting some good Venture capital funding which takes then to a better level of development and being then acquire by bigger companies, I think if they have a good business model they could make it big.   

Let the community give it a shot, maybe it does get to work, i like the way bitsquare is going about it then again is all about mass adoption and having people using the market with out that there is no point build the best of the best if there is no mass adoption is has good has a fail one.

Neither OpenBazaar will be an alternative to eBay, nor Coinffeine or BitSquare will be an alternative to LocalBitcoins. Whenever there is a requirement of an escrow, centralized services will work better. Escrow based decentralization will never work.

I'm looking forward to the launch of Coinffeine, as that will be a true LocalBitcoins alternative

Is there any way to see if there are traders around my area or in my country without registering an account?





I remember there was a site called Localdogecoin.com that did the same thing for dogecoins although some people have accused it of being a scam. Their site seems to be under maintenance right now.

Personally, I think the added utility of offering direct altcoin trading would be small. All altcoins are priced in terms of BTC anyway with the prices being dictated by altcoin exchanges where anyone one can trade their bitcoins for altcoins and vice versa. I know 100bit.co.in prices their altcoins in terms of BTC but pricing altcoins in terms of fiat in the same way others like Litecoinlocal.net and Localdogecoin.com do also introduces an extra conversion step into the calculations that makes it harder to tell if you're getting a good price.

Also, a huge reason why LocalBitcoins is so popular is because the traditional exchanges tend to have more restrictive verification procedures and many people don't want to go through the hassle of setting up an account just make the occasional trade. To trade at Bitstamp or BTC-e for example, requires you to submit proof of ID and proof of residence, wait 3-5 days for bank wire transfers to clear, pay withdrawal or bank fees, etc. Altcoin exchanges, on the other hand, usually admit anyone who has BTC to trade.


They have a signature campaign here although it only has 5 spots.

I will definitely check it out. Thanks for sharing!

if they feel that they are loosing customer to a competition then they will change their services and add new features. untill them this is the only crappy option we got

I tried signing up, but its acting pretty weird. Tried to sign in, after confirming email, said my password was incorrect, then tried to recover it..and it said incorrect email ID...something is up???

Yes and hopefully that would change after increased amount of people start using it . Most of the people are hesistant to try new services. As for face to face, can't it still be done on 100 bitcoin ? You can just set it up as a bank transfer and agree with the buyer to meet face to face , and hit confirmed after getting the cash.

No. If you click you're interested in a trade that offer is not taken out of public view. It moves from Trade page to Order page for the user who has shown interest. As long as you are not selecting your counterparty to trade with in that order, the order is still publicly viewable in Trade page for everyone who has not already shown interest in that order.

A poor site by design not much features, to verify even.

True, I would only recommend the US version since I got screwed out of 180 euro when I used the SEPA option. My bank called me and claimed that the 180 euro I received was from an account that claimed their account was hacked. Unfortunately I had already sent my bitcoins so there was no way of getting them back. And being in a foreign country there's no way I could work within the system to get it back without a lot of hassle and unwanted meddling into my finances.

The US version, someone gets your bank account info, they go to the bank and deposit the money then take a picture of the deposit slip and upload it. Then you wait to see if the funds are in your account and you release the coins. No way to reverse a cash deposit. It's just as good as meeting in person (except the part about involving a bank).

I'm not much aware of the service quality of bitquick.co. So, I'll refrain from commenting about that. But, I have read many comments on this forum regarding the bad service provided by bitquick.in, which is the Indian counterpart of bitquick.co. In comparison, 100bit.co.in has given a great service against INR and I, myself, has experienced it. Moreover, bitquick.co or its subsidiaries are not global like LocalBitcoins/100bit.co.in. So, they are not directly comparable either.

Well... after little bit of usage, I could immediately spot three advantages...

1. Their escrow fee is 0.1% as against LocalBitcoin's 1%.

2. They allow Alt coin trading against bitcoin.

3. Your fund can not be locked by scammers as there is no site wallet concept (if you have not used LocalBitcoins, you wont understand how severe this problem is).

I have spotted two disadvantages as well...

1. Low volume against almost all currencies.

2. You can not do face to face cash trade using 100bit.co.in. They allow online trade only.

No one here is paid to give you a sales pitch. Try yourself and find out.

If it's just for trading online, bitquick.co is a lot better. They deposit the cash directly into your account. No reversing that transaction.

I didn't sell or buy via Localbitcoins so far but I know that it is a well established service. What is exactly better in www.100bit.co.in than localbitcoins does not have and what will make me wanna try it over localbitcoins?

In fact, there is a LiteCoin specific alternative, which is known as www.litecoinlocal.net.