Topic: Buy bitcoin with cash deposits at most banks in the USA with Bitcoin-Brokers - page 7. (Read 104478 times)

bump.

I just meant that in case number 2, the seller has the chance to implicitly set the exchange rate based on the exact timing of the releasing the funds. As you said, the buyer retains some level of control in case 1. As a buyer, case 1 is obviously my preference

But you are correct - you have always completed my transactions quite quickly. So I guess the policy change has less impact than I first thought.

And again, your service really is quite good. I really DO appreciate the value you provide to the BTC community. Even though I occasionally complain a little

The sellers never have the option of setting the rates. That's not how it has ever worked.

Here are the 2 options that sellers have:

1)They have their rates set at the time the deposit is made into their account. This is the timestamp option. If you want this...just request it. If I have it, it's yours.

2)Bitcoin-Brokers sets the rates at the time the bitcoin is transferred to your wallet. In 99% of these types of transactions the prices are set and bitcoin transferred to the buyer's wallet within minutes after they submit their proof of deposit slips.

So once again, so there is zero misunderstanding. The sellers NEVER have the ability to choose the rates.

In fact, the buyers are the ones who hold much more control than the sellers with respect to when the rates are set by virtue of their own choosing of the timing of the deposit in the case of a seller who works under the first rate setting option.

I greatly appreciate the endorsement. Thanks!

Couldn't agree more.  The premium on speed and service is so very worth it in today's market.  By the time you send money to an exchange, and they receive it to your book for trading, and then you execute your trade, the price might have doubled.  If you want coins today, this is the best way.

I just recently bought 4.5 bitcoins via Bitcoin Brokers and thought it appropriate to leave a review of my experience.

Almost immediately after I sent in a support ticket I got an answer with sellers meeting my requirements. After I had deposited the money and scanned the receipts/bank teller card, it took 4 hours for the bitcoins to be released to me.

The fees, in total, ended up being 5% on top of Mt. Gox ($593.65 per bitcoin in the end) which, to me, is a very competitive price at the time I bought it (almost no difference between Stamp and Gox) considering this was all done anonymously.

I highly recommend this service to anyone if you don't want the government knowing when you buy bitcoin and you want it in less than 24 hours.

Bump

There are now additional openings for sellers.

Requirements:

1)US bank account(s) at a major bank(s)
2)Bitcoin that needs to be sold.

Please contact Dan at the help desk at www.Bitcoin-Brokers.org to start selling your bitcoin free of charge.

I apologize if you are unhappy with the change but let's review this.

We changed the terms, yes, but as you pointed out, the FAQ section was changed to advise clients of that change.

I don't understand how you find this to be "vague". It is about as clear as it can be stated.

As far as your comment about sitting on a client's money for up to 24 hours....99% of fundings occur in under 60 minutes.

In addition to the fact that fundings typically occur within minutes, there is zero benefit for Bitcoin-Brokers to try to time the pricing of your bitcoin. The Bitcoin-Broker fee is 2% regardless what prices do. It makes zero difference to Bitcoin-Brokers whether prices are moving up or down because the profit is always the same.

As far as your comment of "YOU CANNOT DO that MAN!"

Respectfully, "yes I can".

Most of the bitcoin is sourced from the actual exchanges when it is sold to you, so the pricing needs to be set in this manner. Otherwise the following scenario could occur:

1)Your deposit is made.
2)By the time you submit the documents as proof of deposit, prices have risen substantially.
3)The seller would be forced into selling you bitcoin at a loss. Obviously this cannot occur, otherwise the sellers will not allow you to use their bank account to buy your bitcoin in the first place. They need to be guaranteed a profit to offer you this service.

That's why you:

1)Make the deposit
2)Submit proof that deposit has been made
3)Deposit is verified by Bitcoin-Brokers, and then sent off to seller as proof.
4)Seller logs into online banking and verifies deposit is actually in their bank account.
5)Seller logs into their account at an exchange and purchases your bitcoin for you.

There are some sellers who sell their bitcoin without sourcing from the exchanges. These sellers have acquired their bitcoin through mining, or some other enterprise which nets them bitcoin which needs to be sold off. These types of sellers are less concerned with the intra-day movements of bitcoin prices, and as a result they set their prices according to the timestamp on your deposit receipt (which is what it sounds like you are looking for in a transaction).

I would suggest on your next order, that you request a seller who prices their bitcoin based on the timestamp, as compared to one who sources from an exchange. If there is supply available through one of these sellers, I will be happy to offer you these instead since it really makes zero difference to Bitcoin-Brokers which seller is chosen.

Hopefully, this offers you a better understanding as to why it has to happen this way.

I see you guys have changed your F.A.Q.

Before you stated that the bit-coin rate is determined(based on Mt.Gox's) by the time-stamp on the receipt received when the cash deposit was made.

Now, The FAQ now reads: bit-coin rate is determined as at the time the BIT-COIN is being released to the buyer!

Man this is very problematic and VERY vague. 

Which means you can literally sit on one's $ for up to 24 hours and watch what happens with the fluctuations before sending the BTC?

CATEGORICALLY, when a cash DEPOSIT or any cash payment was made...in normal business terms, it should signal the instantaneous disbursement or render of service.

Point is, YOU CANNOT DO that MAN!

Time-stamp as at when cash was made to the account should be norm. It's how everyone else does.

There is an immediate opening for up to 2 new sellers currently.

To qualify, you will need to hold an account at either:

CampBX or BTC-e

Additionally, you will need to hold an account at a major US bank.

Please contact Dan through the help desk at www.Bitcoin-Brokers.org if you are interested.

I would say that most of the transactions actually complete within an hour.

They have sent me my coin every time no problems  . In fact most times I have coins transferred within the hour.

I wish I could assist people in the EU. Chile is the same timezone effectively as the rest of the USA.

Chile and no EU?

mt gox price plus 2%???

Much appreciated!

I'm a happy customer of a few bitcoin-brokers transactions now. They're a great way to do fast, anonymous btc purchases.