Interesting analogy from the minibars...I'm in the hotel industry. People WILL pay 3xs what something is worth to be lazy...
Yeah, it is 'simple'. The sellers are the ones taking the risk here mostly. Like someone else said, I'm sure there are people who are looking to scam these eBay sellers out of it one way or another. There are always scammers, no matter what.
I'm sure you could actually make a pretty lucrative business out of it. I posted 1 BTC bidding starting at $19 as a 'trial' and I had 36 views in a 24 hour period... I think buyers are looking for Buy it now VS bidding though...
Interesting stuffs
Topic: I dont understand how people can sell BTC on ebay for so much over spot - page 2. (Read 1665 times)
January 22, 2013, 05:15:48 AM
January 22, 2013, 03:12:10 AM
Someone who just wants a bitcoin to play with for journalistic or academic purposes or experimentation also doesn't care about the price as long as the premium he's paying to acquire the coin is realistic.
What's better: overpaying by $10 for 1 BTC if you just want one easy bitcoin now, or worrying about how to go thru BitInstant/MtGox/whatever? If someone considers the time they save by doing eBay and PayPal to be worth more than the time they'd spend learning about how to do it another way (and drive somewhere to complete it), they'll pay eBay and PayPal. It's simple really, the same way hotels will routinely sell minibar snacks and drinks for $5-$10 to people who could get those same things at the grocery down the street for under $2. Some won't pay it, others will.
What's better: overpaying by $10 for 1 BTC if you just want one easy bitcoin now, or worrying about how to go thru BitInstant/MtGox/whatever? If someone considers the time they save by doing eBay and PayPal to be worth more than the time they'd spend learning about how to do it another way (and drive somewhere to complete it), they'll pay eBay and PayPal. It's simple really, the same way hotels will routinely sell minibar snacks and drinks for $5-$10 to people who could get those same things at the grocery down the street for under $2. Some won't pay it, others will.
January 22, 2013, 02:58:45 AM
The possibilty to use PayPal will make some people pay a lot more, rather than having to use, say, their bank account to purchase BTC.
January 20, 2013, 03:17:33 AM
After the price spike a few days ago I quickly checked out the ebay sellers. And not one of them was cheaper than the mtgox ask.
Unfortunately bitinstant is not cheap either.
Anyone building up a speculative position must go through mtgox or one of the small exchanges reflecting true market prices. Paying even 10% extra now will amount to thousand$ lost through having less BTC in the future.
Unfortunately bitinstant is not cheap either.
Anyone building up a speculative position must go through mtgox or one of the small exchanges reflecting true market prices. Paying even 10% extra now will amount to thousand$ lost through having less BTC in the future.
January 20, 2013, 01:49:47 AM
There are one or 2 scammers on ebay that troll for those listings and buy them almost every time...just to scam the person out of a BTC
January 19, 2013, 11:58:58 PM
Plus, for the amount of BTC I did ($80 worth) I paid $4 in fees to bitinstant and $4 to zipzap...so it cost $84 to get $76 worth of BTC. A premium one way or another i guess....
January 19, 2013, 11:31:32 PM
I just did a BitInstant the other day and it was 'doable' but not quite anonymous and a little too cumbersome for the average techie guy that likes to stay at home to make purchased (me). So i guess there is a market for it, that's for sure.
January 19, 2013, 11:20:22 PM
Its probably just so they can use Paypal.
And you can even use your credit card to fund the purchase, so if anything goes wrong you can lodge a dispute with PP or you can do a charge-back.
If you only want to buy a few coins, it's a lot less hassle than funding an account on an exchange.
January 19, 2013, 11:18:25 PM
scammers don't care about the price...
bingo!!!!!!!!!!
January 19, 2013, 11:10:23 PM
scammers don't care about the price...
January 19, 2013, 11:08:36 PM
Its probably just so they can use Paypal.
January 19, 2013, 11:07:10 PM
It's pretty hilarious.
http://www.ebay.com/itm/1-Bitcoin-BTC-Bitcoins-instant-fast-delivery-worldwide-secure-with-Paypal-/121054220085?pt=LH_DefaultDomain_0&hash=item1c2f64cf35
double practically! it may be a good business model! IDK<
http://www.ebay.com/itm/1-Bitcoin-BTC-Bitcoins-instant-fast-delivery-worldwide-secure-with-Paypal-/121054220085?pt=LH_DefaultDomain_0&hash=item1c2f64cf35
double practically! it may be a good business model! IDK<
Jump to: