Topic: Localbitcoins cash deposit study (Read 285 times)
I think asking for ID is a joke and they print those just as fast as they do the receipt and bank biz card. I just cant believe the complete disregard by US citizens to make a buck to screw over other US citizens and give the money to some scumbag overseas running a scam on grandma. They use to do all kinds of gift cards and now they switched the scam to cash deposits because all they need is a receipt and biz card with some useless crap written on it since it is 100% of the time fake.
does anyone have to add to this that maybe has some experience with cash deposit via LBC?
Quite interesting really, though I always figured this was happening, but never sure of the scale. It kind of like the "Selling Paypal @ 50% discount for btc" thing. I definitely think you are onto something, though I must ask: Are you from USA? if you are selling through LBC as an unliscensed money exchanger and asking for zero ID the gov here will shaft you. This also could be why you are attracting a certain type of clientele.
Even the traders on LBC that use proper liscenses & ask for ids and stuff... It's not like you can't fake an ID and show that instead, so I've oftened wondered how these procedures protect anyone from anything.
I always buy my LBC by cash deposit though, using proper id from an exchanger that has 1000s of good transactions with 99%+ good feedback. I've never had an issue. What would you like to know about my experiences with cash deposit on lbc?
does anyone have to add to this that maybe has some experience with cash deposit via LBC?
I started about a year ago doing a few cash deposits a month on lbc. I was pretty successful but very curious to who these buyers are that are willing to pay 8-10% over spot with cash deposits. I stumbled upon a guy on cl selling bulldogs for 500 on the nose. I said this has to be a scam the dogs are 1500-2000 locally. Anyway I said hmmm.... wonder how this scam works since I deal with lbc every CL scammer in the world uses lbc to cash out I said let me see.
Step 1 replied to ad
Response yes I got the dogs and I can send you one but you need to do it through Amazon or Ebay
Step 2 laughed
replied I really cant find any gift cards at my store I am from a very small country community
Response its ok do you have a wells fargo or BOA bank near you
HMMMMM yeah sure of course on the corner
Step 3 respond to scammer "yes I can deposit into the bank no problem"
response tell me when you can go to the bank
Step 4 told scammer can be at the bank in an hour
he sent me deposit info and the thing that caught my attention was he gave me an odd amount like 500.02
I was like hey this lbc type deposit COULD IT BE?
Test 1 hour later got 4 messages from him are you depositing aree you depositing are you depositing kinda like an lbc seller LOL
step 5 no sorry my atm card did not work I will do it later
response no problem let me know when you are within 30 minutes of going
step 6 ok ready again
guy sends me diff bank info compeltely diff name and amount was 499.99 this time
step 7 I just told him I deposited but i did not deposit
response OK I will ship the puppy asap just text me the address
never heard from him again
so I was like he thinks I deposited but does not need receipt or bank biz card like all the idiots on lbc? weird and how come he did not say hey I just checked my account you did not deposit?
so anyway I go back to selling on lbc and I say I am going to ask these guys for some stuff that is not normal but can only be obtained at the bank and the results were unbelievably scary.
A 19 out of 20 cancelled when they knew they needed something other than the receipt and biz card (I did not ask for ID or any personal info) I only asked for things they could only get in the bank or do at the bank
before i asked for these things I never had a single person cancel.
Nearly every single cash deposit on lbc is BS and they print their own receipts and biz cards and if you want proof I have it.
so any lbc seller or paxful seller that thinks a receipt and biz card is anything, you are 100000% mistaken, they all print their own receipts and biz card.
Step 1 replied to ad
Response yes I got the dogs and I can send you one but you need to do it through Amazon or Ebay
Step 2 laughed
replied I really cant find any gift cards at my store I am from a very small country community
Response its ok do you have a wells fargo or BOA bank near you
HMMMMM yeah sure of course on the corner
Step 3 respond to scammer "yes I can deposit into the bank no problem"
response tell me when you can go to the bank
Step 4 told scammer can be at the bank in an hour
he sent me deposit info and the thing that caught my attention was he gave me an odd amount like 500.02
I was like hey this lbc type deposit COULD IT BE?
Test 1 hour later got 4 messages from him are you depositing aree you depositing are you depositing kinda like an lbc seller LOL
step 5 no sorry my atm card did not work I will do it later
response no problem let me know when you are within 30 minutes of going
step 6 ok ready again
guy sends me diff bank info compeltely diff name and amount was 499.99 this time
step 7 I just told him I deposited but i did not deposit
response OK I will ship the puppy asap just text me the address
never heard from him again
so I was like he thinks I deposited but does not need receipt or bank biz card like all the idiots on lbc
? weird and how come he did not say hey I just checked my account you did not deposit?so anyway I go back to selling on lbc and I say I am going to ask these guys for some stuff that is not normal but can only be obtained at the bank and the results were unbelievably scary.
A 19 out of 20 cancelled when they knew they needed something other than the receipt and biz card (I did not ask for ID or any personal info) I only asked for things they could only get in the bank or do at the bank
before i asked for these things I never had a single person cancel.
Nearly every single cash deposit on lbc is BS and they print their own receipts and biz cards and if you want proof I have it.
so any lbc seller or paxful seller that thinks a receipt and biz card is anything, you are 100000% mistaken, they all print their own receipts and biz card.
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