Topic: why would someone sell BTC for $20 cheaper (Read 1204 times)
There could be many reasons for this and part of it could if the person needs money desperately, if the bitcoin is a dirty one
The sell cheaper, because they will get a lot of buyers faster when they need fast cash.
20 Dollar is btw. only about 8% cheaper.
Some people buy for 30% or more with paypal.
In my opinion it looks dont like a scam.
20 Dollar is btw. only about 8% cheaper.
Some people buy for 30% or more with paypal.
In my opinion it looks dont like a scam.
If the person is asking to meet in Starbucks, there's no harm but make sure not to have any drink they offer. $20 is not a big amount and if one wants to have a cash deal, they may need the cash and hence are offering a discount. It's better not to deal with people in person especially because we don't know the person personally but if you're comfortable with such deal, it's fine.
If there is no other choice for him, then selling for 20$ cheaper would be good.
Otherwise maybe paying many fees it is more profitable selling for 20$ cheaper.
Otherwise maybe paying many fees it is more profitable selling for 20$ cheaper.
how much bitcoins? if each of bitcoins is $20 cheaper, you just buy 100 bitcoins then can easily earn $2000!!
100 btc are not affordable by anybody, we are talking about 27k+, therefore a discount of 2k is not a big deal
if they are still selling with this up trend going on they must be crazy or really stupid, because they will lose much more than 10%
do i hand over the cash first or does he transfer the BTC first.
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
TX first, cash on confirmation, you two (or more) wait and drink coffee while the miners work on the block. I would present the cash on request. You should probably write to the other party in advance how you want to do this.
Actually 20$ is less then 10% lower than the actual price, so it's not a lot; i pay more commision fee regulary while exchanging bitcoins to skrill for example.
There's no surprise that some people sell 20$ cheaper if they want to sell in a way that they can avoid banks and tracking of funds.
cheers
how much bitcoins? if each of bitcoins is $20 cheaper, you just buy 100 bitcoins then can easily earn $2000!!
do i hand over the cash first or does he transfer the BTC first.
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
TX first, cash on confirmation, you two (or more) wait and drink coffee while the miners work on the block. I would present the cash on request. You should probably write to the other party in advance how you want to do this.
do i hand over the cash first or does he transfer the BTC first.
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
Id suggest u to ask them to transfer the BTC first..as the cash would be present there with u itself..! N choose a location that u know..or somebody u know around it..just in case. Do tell the guy about how u want to make this happen.. Just to avoid any confusion. Try to do some background check if u can.. If u have his btctalk ID.. or LBTC ID n stuff like that. Generally it should be safe.. i guess.. just make sure u guys meet in a public place where there's help right away..
GL..!
I think the major problem is not if you will get the bitcoins.
There are alot people out there, that prefer cash trades and are willing to sell cheaper for that, because of money laundering or tax evasion (I think mostly tax evasion).
Because if you buy and sell your bitcoins in cash, nobody can prove, that you had to pay taxes on bitcoin earnings.
That's why everybody who trades for cash, has to write a bill (with names) and send this with tax report (I think it depends on where you live).
I'm sure the "someone" who is willing to sell that cheap, don't want you to mention him in your tax report
There are alot people out there, that prefer cash trades and are willing to sell cheaper for that, because of money laundering or tax evasion (I think mostly tax evasion).
Because if you buy and sell your bitcoins in cash, nobody can prove, that you had to pay taxes on bitcoin earnings.
That's why everybody who trades for cash, has to write a bill (with names) and send this with tax report (I think it depends on where you live).
I'm sure the "someone" who is willing to sell that cheap, don't want you to mention him in your tax report
do i hand over the cash first or does he transfer the BTC first.
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
The way i do it is that i ask for both of us to show proof of having funds. I load up the wallet and show balance(on mobile wallet i always have just enough to make particular deal,it's not my main wallet ofc),
and they show me the money.
Then money goes on the table and stays there infront of us, while i set up transaction. Before typing in the password for wallet client, i take the money and then complete sending.
Next thing we all wait for 1-3 confirms while having a drink.
Do how you think it's best, but i think my way is safe.
Whatever you do;
- if they contacted you and want to buy, they are sending always first!
- if you contacted someone who is buying btc, you're the who will probably go first
cheers
go there with a friend, if you feel not safe to meet this person, but 20 less isn't that much of a difference, we are talking about less than 10%, there are many even here on bitcointalk with that rate
why would someone sell me BTC $20 cheaper than bitstamp value?
they want to meet in person at a public place like Starbucks and do a cash transaction.
am i going to get scammed?
any advice?
thanks!
they want to meet in person at a public place like Starbucks and do a cash transaction.
am i going to get scammed?
any advice?
thanks!
It could be a mistake. They may have set the % mark-down without realizing how big it actually was. If it's someone with low/no feedback, they may be willing to pay a premium to be able to trade relatively quickly. If it's in a public place like Starbucks, I wouldn't worry too much.
why would someone sell me BTC $20 cheaper than bitstamp value?
There are so many reasons and you don't know which one is true. He might have bought them low and is short of cash. He might be selling stolen coins and want anonymity. Who knows?
Have the money ready and ask the seller to sent the tx first, check the tx for unconfirmed inputs and sufficient fees. If everything checks out, pay up.
As anyone say ask first for the transaction and than hand him over the cash be carefully
I have only done cash trades with one person and the way we did it was we met at a public place (cafe) I showed him cash, he sent the BTC, I waited till it received 3 confirmations (drank coffee whilst waiting for the blocks) after 3 confirmations gave him the money (it was a small amount) he counted and off he went and I paid for the coffee and came back home.
So I would suggest you to clear the terms prior to going for the trade and tell him clearly that you won't pay until the transaction has atleast 3 confirms.
So I would suggest you to clear the terms prior to going for the trade and tell him clearly that you won't pay until the transaction has atleast 3 confirms.
do i hand over the cash first or does he transfer the BTC first.
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
Are you using LBC? They have ratings there, so if you are buying from someone with 1000+ transactions, 97%+ satisfaction (for example), then you are pretty safe.
People would buy/sell at a los compared to the market because it is a PITA to convert fiat<->bitcoins. If you use a bank wire, for example, then you pay 30-50$ and have to wait some time, maybe a few days. Plus the exchanges will charge their fees as well, so if you think about it, they are not losing very much if anything compared to using the exchanges.
+1 to illegal activities. The way the cops are busting people is that when they transact with you, they will talk about using the money/btc for hookers or drugs, or something else illegal. Its bullshit, but after they say that you become a criminal IF you go through with the transaction. IMO this is the biggest danger, so if they start talking about anything shady, just walk away.
do i hand over the cash first or does he transfer the BTC first.
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
TX first, cash on confirmation, you two (or more) wait and drink coffee while the miners work on the block. I would present the cash on request. You should probably write to the other party in advance how you want to do this.
do i hand over the cash first or does he transfer the BTC first.
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
if I hand over the cash first, he can just take it and go...all i can do is sit there and scream like a girl..."help...help...somebody help"...but he will be gone!!!
if i tell him to transfer BTC first, he will say that it's irreversible and will want the cash first...
what do i do?
why would someone sell me BTC $20 cheaper than bitstamp value?
Maybe, because they need cash fast and anonymously.
they want to meet in person at a public place like Starbucks and do a cash transaction.
am i going to get scammed?
any advice?
thanks!
am i going to get scammed?
any advice?
thanks!
Hard to tell without more information but the price. I would suggest you bring a friend preferably someone bulky, but not scary, just in case. Stay calm and call the deal off if there is anything fishy, esp. if the other party starts to talk about illegal activities. Dont go anywhere else but the agreed place, if possible visit it in advance to get familiar with the place. It might be worth the check whether there are backdoor exits or toilets that can be used to escape. Make sure you get at least one confirmation before you hand over the cash.
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