LocalBitcoins-Why is this seller not approved by LBC and selling at higher rate?

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: Dragonizer on November 18, 2019, 05:52:38 AM

Hi

This guy is selling above the normal price of around £6430/BTC, he is selling @ £6955 and has excellent reviews?

Any ideas.

Pics below

https://imgur.com/a/M0X5ski

https://imgur.com/a/bSfbz5D

https://imgur.com/a/vpncsFa

https://imgur.com/a/eOIk2mJ

Cheers

Possible reasons, He forgot to change the price of his advertisement.

Having better price will give more deals so he goes with more trades for making decent profits.

hugeblack

legendary

Activity: 2702

Merit: 4002

Most likely, he wants to appear first in the search results, so losing some money for doing a lot of transactions doesn't look bad.
Check the account and it seems that the difference is about 1% so you may have taken that picture during price fluctuations.
Note that the critical criterion is reliability and ensure that the other party will not steal your money. The price is volatile so even if it differs from platforms, he will be a winner.

buwaytress

legendary

Activity: 3010

Merit: 3724

Join the world-leading crypto sportsbook NOW!

Yeah, I've been caught in price wars sometimes (selling in my local origin currency) and it can be that LBC auto-adjust formula (you can choose to set it at certain % above market) is slow to react to manual price setting, and then as soon as the market swings it can also put people wildly around the top 10 in search.

Price is the main marker for where they place you, though, I can beat someone with 100% feedback even with cents in price difference (I think LBC understands that malicious feedback also exists).

And this guy is huge feedback with huge volume, and best price. So I'm not sure what your issue is... you said he's not approved by LBC? Clearly he is...

Dragonizer

full member

Activity: 279

Merit: 107

Quote from: gentlemand on November 18, 2019, 07:40:02 AM

He's now the cheapest on there by 75 pence.

I don't know whether sellers automate prices. Perhaps they were away for a while and gave the prices a more realistic tweak on returning. There are quite a few a grand or two or plenty more above the current price.

Yea it's gone now, LBC can be set to automate sell prices.

You notice if you select 'All in Unite Kingdom', they all use Paypal, some sell as goods/serives so the BUYER pays the fee (not sure what this is).

Then others sell as 'friends/family' which i think they 'could' appeal/retrieve and you could lose your money!

But they all have good FB tbh.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

He's now the cheapest on there by 75 pence.

I don't know whether sellers automate prices. Perhaps they were away for a while and gave the prices a more realistic tweak on returning. There are quite a few a grand or two or plenty more above the current price.

Dragonizer

full member

Activity: 279

Merit: 107

Hi

This guy is selling above the normal price of around £6430/BTC, he is selling @ £6955 and has excellent reviews?

Any ideas.

Pics below

https://imgur.com/a/M0X5ski

https://imgur.com/a/bSfbz5D

https://imgur.com/a/vpncsFa

https://imgur.com/a/eOIk2mJ

Cheers

Topic: LocalBitcoins-Why is this seller not approved by LBC and selling at higher rate? (Read 108 times)