Bitcoin for liberty | Bitcointalksearch.org

Initscri

hero member

Activity: 1582

Merit: 759

Quote from: kooke on April 19, 2014, 12:32:35 AM

Quote from: Bit_Happy on April 16, 2014, 03:08:14 PM

Quote from: kooke on April 16, 2014, 02:44:09 PM

I find that most people on localbitcoins charge a large premium. When btc was at $350 last week people were charging almost $80 more.

The market fell so fast maybe they didn't have time to adjust their prices?
Does localbitcoins have an automated price change feature? (you can ask Bitstamp + 2%, for example & the displayed price changes with the market)

Yes they do have automated price adjustment. The ones who had a good price weren't selling and others raised their premiums. Same thing happened with precious metals when their price dropped. I remember people asking $24+ per silver oz when spot was around $18 last year.

Issue is also more evident in places where Bitcoin isn't as popular (smaller towns / cities), where there is less competition.

kooke

sr. member

Activity: 448

Merit: 250

Bitcoin super-duper-mega-ultra-hyper-node

Quote from: Bit_Happy on April 16, 2014, 03:08:14 PM

Quote from: kooke on April 16, 2014, 02:44:09 PM

I find that most people on localbitcoins charge a large premium. When btc was at $350 last week people were charging almost $80 more.

The market fell so fast maybe they didn't have time to adjust their prices?
Does localbitcoins have an automated price change feature? (you can ask Bitstamp + 2%, for example & the displayed price changes with the market)

Yes they do have automated price adjustment. The ones who had a good price weren't selling and others raised their premiums. Same thing happened with precious metals when their price dropped. I remember people asking $24+ per silver oz when spot was around $18 last year.

DooMAD

legendary

Activity: 3948

Merit: 3191

Leave no FUD unchallenged

I'd say any extra premium is well worth it for not having to deal with exchanges. Not having to send in photo ID and other identifying documentation to validate an account. Not having to trust an exchange by sending your money to an address where you don't control the private key. I'd choose peer-to-peer any day.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: kooke on April 16, 2014, 02:44:09 PM

I find that most people on localbitcoins charge a large premium. When btc was at $350 last week people were charging almost $80 more.

The market fell so fast maybe they didn't have time to adjust their prices?
Does localbitcoins have an automated price change feature? (you can ask Bitstamp + 2%, for example & the displayed price changes with the market)

kooke

sr. member

Activity: 448

Merit: 250

Bitcoin super-duper-mega-ultra-hyper-node

I find that most people on localbitcoins charge a large premium. When btc was at $350 last week people were charging almost $80 more.

LAMarcellus

full member

Activity: 180

Merit: 100

And today we have good news for Liberty.
Mycelium has added a new feature to their wallet that creates a decentralized exchange.
The software is open source so localbitcoins.com can tap into the exchange as well.

LAMarcellus

full member

Activity: 180

Merit: 100

Localbitcoins.com facilitates person to person transactions.
Perhaps this is more cumbersome than using an exchange.
However local bitcoins.com can provide price discovery, just as an exchange does.
Are you willing to acquire your BTC at market price by meeting someone in person? I am and I have found it to be a pleasant experience.
A commenter asked "Who would be interested in an exchange that doesn't deal with fiat? Just to avoid KYC & AML" Good question.
I would ask,
"Who would be interested in having to deal with a bank just to get on an exchange?"
Especially when the alternative is so much better for the soul.
Socially and for Liberty.

Topic: Bitcoin for liberty (Read 681 times)