Topic: Buy bitcoin with cash deposits at most banks in the USA with Bitcoin-Brokers - page 12. (Read 104478 times)

With all my due respect I believe this is still ambiguous.
It looks like you could have a catch-22 situation.
In your last post you explained that you had the seller's coins in your control and could still
release them to the buyer despite him opposing to do so. Yes you can!
But coming back to the my first post, how do you really know that the BUYER isn't the one conniving,
he has nothing to loose in trying, a scanned photoshopped deposit slip and a business card are not a barrier to a con artist.
(The con artist can walk in any branch and obtain a blank slip and a business card and that's all he needs to subsequently photoshop it tranquilly at his home and send it to you).

Both parties stand firm to their version.
How are you going to verify?


Thank you.

Okay lets address it from that side. Yet let's please make this the last spin on this "hypothetical situation" shall we?


Before a seller has buyers directed to their bank account, they need to escrow their bitcoin with Bitcoin-Brokers. That way even if the situation you described occurs, Bitcoin-Brokers will still be able to complete the transaction.

Once again, what do you think the benefit is for a seller to try to lie to me, the buyer and the bank when the buyer "in this case" does in fact have a legitimate receipt?

Do you think somehow that the truth isn't going to be found out?

I don't think I need to connect all the dots on this one for you again. Do I?

Neither the buyer nor the seller have the ability to scam either party.

Only an extremely shorted sighted person would ever think that they could ever get the better of the other person under either situation.

I mostly just want to get on this thread and don't like the 'watch' function, but...

As a seller, I have given up my BTC.  The best I can do is hope to get them back, but the buyer has a valid receipt and the broker has a copy.  Eventually the valid documents are going to win the day if it progresses all the way to a lawsuit and discovery, and it likely would before any BTC were returned to me.

A scummy competitor or disgruntled customer could more safely and effectively damage the reputation by posting BS on this forum I would guess.

Hi.

What I meant too, is dishonnest sellers. They can log into  their bank account and see that the money has been received but tell you it hasn't and not to release the funds. What is your procedure at that point, how do you handle the dispute ?
Thanks.

Amen to this.

I would be using your service regularly if you offered deposits at credit unions. I don't think I'm the only bitcoin enthusiast who prefers to do my banking at a credit union. They are generally more bitcoin-friendly and they are generally less evil than banks.

The only time I step foot in a bank is if my boss asks me to make a deposit for him. I use bitcoin primarily to boycott the banking system.

Don't have a bank account, don't want a bank account, and don't want to step foot in a bank. I don't feel that way about credit unions because they are owned by the depositors, as all banks should be.

I can speak from personal experience; I live in NYC, and about a year ago I had to send money to my father (who has an accound at Vermont Federal Credit Union) and my brother-in-law (who has an account at Capital One).

Rather than using wire transfers with outrageous fees, I simply deposited money into their accounts--same process for the credit union as for the Capital One account. Just walk in, tell them the account number, hand over cash, get receipt. The money hit my Dad's account same day.

Depositing money into my father's credit union account was just as easy as depositing money into my brother-in-law's account at capital one. I would argue there are other advantages--for example, there are places where you can't find a capital one branch, but pretty much anywhere you go there is a credit union nearby.

The deposit slip is only half of the equation. The seller also has to log into their online bank account and verify the funds are there.

Counterfeit  receipts will not yield much happiness in the life of the short-sighted criminal.

What are they supposed to do with a counterfeit receipt after the seller denies receiving anything deposited? Are they going to walk into a bank which never issued the scammer a receipt and try to tell Bank of America that they are right and the bank is wrong?

A smell a first class ticket to Rikers Island for anybody in NYC thinking of such an idea.

After several hundred transactions to date.......not one scam....(knocking on wood as I write this).

Most credit unions in the USA have agreements, any member of any other credit union can use them just like the home credit union without fees.

It's called shared branching and it makes almost any credit union have branches almost everywhere. For deposits it's dead simple.

Hi.

It looks like there is great potential for growth and having a happy customer base.
There is one issue I would like you to clarify regarding a dishonest seller.
You provide the instructions to the bonafide buyer and he executes everything to the letter but the seller claims he hasn't received anything (although he has).
How do you handle such situations ?
Some disgruntled competitor or lowlife could very well also obtain slips and business cards from branches in his vicinity say NYC  and wreak havoc with your seller base claiming them of being a fraud that they aren't confirming.
How can you investigate who is telling the truth ? With the help of slips and freely obtainable business cards ? What if the slip is photoshopped ?
Excuse me if what I am saying is naïve or foolish but I don't see an easy answer for this.
If I had to call a teller say in a Chase branch and ask him to confirm a cash deposit in an account that doesn't belong to me based on a scanned slip and the reason I called him is because I have his scanned business card too, I don't see him obligated to assist me. Wouldn't this be a pain in the bu.. to explain everything over the phone and be told a generic "sorry that I cannot assist you", you should better please contact my manager etc... or some other red tape.

Thanks, I appreciate hopefully an easy solution to this dilemma that was disturbing me.

But can you give an indication of how many btc per week to expect?  10, 100, 1000?

Yes, he is a Canadian resident with bank accounts etc. He'll pay taxes.

Thank you very much!

The Canadian side of the business isn't anywhere near as busy as the US side.

If you are a Canadian resident, and have btc for sale, then they will sell, but not in the volumes which is sold on the US side.

This might interest someone I know in Canada with lots of coins to sell. Roughly how much could he sell each week at Mt.Gox prices? It has to be worth his while. He is not a small fish.

I read in your arbitrage thread that you had an over supply of buyers. Is this still the case?

Great site, the owner has been working extremely hard to build his reputation and it shows. Can't imagine there's a faster way to buy bitcoin.

I appreciate that very much. Thanks again.

Just finished with half the coins with him and cash in my bank at a great price, cant beat no fees. Superior services, deserves lots of credit.

Sorry for late repy but a member on this thread asked if you allowed credit unions and you said no so you had one request

How about sleep? Some people tend to do that.

I appreciate your offer very much.

I chose not pursue anything too far outside of my own timezone.

One of the key strengths of Bitcoin-Brokers is its response times to inquiries. If the service was offered in Europe, the response times wouldn't be as good for the Europeans. I would rather focus on the clients who can be offered the existing response times and stay a bit smaller, rather than offer substandard service to the Europeans just for the sake of growth.

Perhaps the service will be offered in Europe one day, but not quite yet.

edited (service disruption now over)

You are loosing a lot of customers since you dont offer EU IBAN transfer.
I can help with that. PM me if interested.