Topic: Who here wants to make a large buy of Bitcoins? ($50k or more) (Read 7478 times)

Hello hurriebra49,
I promise to not report your 199% obvious Spam post, since I am glad you helped me rediscover a very interesting old thread, thank you.

Bitcoin is the Most famous digital currency in this latest technology era and the demand is increasing day by day almost every one wants to buy bitcoin to invest in bitcoin and I think by just little understanding of the market condition you can earn a good profit from it but if you buy this coin at high price then don’t worry it will go up again and make  a new record of high price and it is the best option for all investors who wants to buy bitcoin,

Cool !

Mike if things are taking off please consider a website redesign !

Newcomers and laymen need nice ui's & usability.

I'm sure lots of us here (myself included) can help you out with that.

Sure, http://casascius.uberbills.com

Well hook me up with them because I want to sell sell sell.  And then sell some more.

I'm game, Mike, I really like your physical coins and I can't wait to see this in action.

Oh well, that's nice to hear though !

How many C Coins are there in circulation?

Are those numbers anywhere?

I never did, and would be less likely to do it now that Casascius Coins has picked up quite a bit. A matter of focus, priorities.

Did you ever get to try this?

In this scenario the commission would be taken out of the USD side since that's the only side I would actually be able to touch.

When the exact final price /BTC is set, who is actually paying the commission the buyer or the seller?
Based on the example, it looks like the BTC seller pays the commission not the cash buyer, is that correct?

Most people with a decent credit rating can open up a line of credit for at least $25,000 if not more.

Don't tempt me....

There are more than you would imagine ...

how many people do you think are out there that want to buy $50k of bitcoins?

Certainly, though I'd limit it as well, as it's added complexity for me, so there would be no more than about two or three wires max.  One core reason someone would want a service like this would be convenience - an element that is lost if they have to wire money to 12 different people.

If someone is after $100k in bitcoins, and someone comes along and says "I want to sell but I only have $50k worth of BTC", it's still realistic to accept that deal if the price is right.  Aside from the fees, it's not much more difficult to send two wires than one.

This use of seller is (optionally) plural:


But then each use of the term seller after is singular:


Of course with each counterparty there is an increase in expense and administrative work by the buyer (multiple bank wires cost more than a single wire, managing multiple escrowed buys simultaneously introduces confusion and delays, etc.).

Is it simply where the buyer allows for there to be up to a certain number of sellers?

I would like to hear from anyone sitting on the sidelines waiting to buy $50,000 USD or more with Bitcoins, but who is hesitant to send their money to an exchange - or anybody really - out of fear that their money will somehow get stolen.

I would like to try out an escrow scheme I've come up with.  The essence of it would be as follows:

1. You give me 10% of the actual USD amount of bitcoins you want to buy.
2. I find seller(s) for the bitcoins at the price you're after.
3. I serve as "escrow agent" using a crypto-based escrow tool.  The tool makes it so you and the seller can generate a bitcoin address that nobody can collect from unless someone releases the escrow.  You and the seller can release the escrow without my help, but if neither of you release, then I can force-release it to either you or the seller (all-or-nothing).  The design of the tool prevents me from ever having access to take the coins myself.
4. Once confirmed the bitcoins are in escrow, you pay the seller the remaining 90% via bank wire
5. The seller releases the escrow.
6. I release the 10% minus a commission of $1000 + 1%.

Meanwhile, you can change or cancel your order up until the moment someone has committed to it by sending their bitcoins, and you'll get a full refund minus a $200 change/cancellation fee.

As part of my services, I'll provide two-factor physical/paper bitcoin storage that is guaranteed in writing to be 100% secure from cybertheft.

If you do PGP, my key is at https://casascius.com/pgp.txt