[PSA] LBC is low on cash-in-mail buyers, resellers you sitting on some fat wads? Help the community out

Theres less than 10 CIM buyers now, some of what are MSB's passing info to LEO, do what dnm vendors do and use fake return addys and stamps and get your coins at a discount.

Like say you wanted to do cash deposit for $2g's this is the best price on LBC at a national bank:

********* (100+; 100%) Cash deposit: Capital One Bank 283.79 USD 1500 - 2996 USD

https://localbitcoins.com/buy-bitcoins-online/usd/cash-deposit/

Highest price as a CIM buyer:

******(100+; 100%) Cash by mail 259.15 USD 1000 - 5000 USD

https://localbitcoins.com/sell-bitcoins-online/usd/cash-by-mail/


Comments


[3 Points] Vendor_BBMC:

"cash in the mail" should be done in the privacy of darknet marketplaces, using escrow.

Personally, I think that there should be a "cash in the mail" listing category on every DNM, and every user should have vendor rights to sell "$100 cash".

That way, we make the exchange (a security weak point) part of the market. The bitcoin doesn't leave agora, no tumbling is required, and agora get their commission twice. bitcoin inside a marketplace where it is to be spent is more valuable, so it will attract actual bitcoin traders to sell them for cash, then buy more. It won't necessarily be a vendor cashing out buying your cash with bitcoin

Everybody's happy, because instead of having the marketplace's lungs on the clearnet, they are brought inside the marketplace's chest where they've always belonged.

Ross' Silk Road Model was revolutionary, but it can be improved upon.

---------------------------------- EDIT ---------------------

in fact why isn't there a hidden onion marketplace which sells only cash etc for bitcoin, which anybody can use instead of the regulated nosey exchanges?


[1 Points] None:

How is someone selling BTC at 259.15 when the price is at ~266 right now

EDIT: WHY*


[1 Points] Throwdrugsandrun:

Cash by mail is riskier and it holds up your capital longer, you need to make more profit to make it worth it. Simple as that.

EDIT: Also you're comparing buy prices vs sell prices. Of course their will be a discrepancy, both sides have to make profit, so the difference will be double.


[1 Points] Clix828:

[deleted]

What is this?


[1 Points] None:

[deleted]


[1 Points] psychmydelic:

I don't know why a vendor would ever want to do this.


[1 Points] None:

I've always used cash by mail. bought them in person for about a month, the guy was cool and honest, but he charged 3% more than cash by mail (understandably so, he told me so many stories about the scams people have pulled). I also had to go somewhere public where he'd count the money. I live in a crappy neighborhood and I feel like I'm more likely to get robbed doing that than for USPS to lose my package.

for very small amounts of coin I needed right away, I'd buy with amazon giftcards (they don't charge an activation fee, so a $25 card cost $25). it's typically a huge markup (sometimes even as high as 30%!), but if you go online at weird hours (I'd always go on around 4-7AM west coast time, cause I'd be up all night tweaking) there's a bunch of chinese sellers who only charge like 10-12% markup. which isn't bad for anonymously purchased instant coins early in the morning when no other sells are willing to meet. plus, since it's still early, if you get your order in the vendor might be able to send it out the same day.

also, for people talking about BTC value fluctuations affecting trade values...every seller I have ever used required me to open a new trade upon them receiving my cash. so unless you're specifically trying to buy when BTC is at a low, this isn't really an issue