Silk Road forums
Discussion => Security => Topic started by: whysoserious88 on December 07, 2012, 11:30 pm
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So as many have mentioned on this forum recently, and from my own struggles bitme.com has taken a turn for the worse in the last week. Their market has become incredibly weak to anyone buying BTC. It is impossible to find any coins being sold for anything remotely close to mtgox weighted avg, or even its high marking. What compounds this problem is that even after you pay an ungodly high amount for your BTC you will still be charged a fee.
This site use to do me wonders, but as of now it is literally screwing me out of money. Bitcopia, looks nice but I'm almost never able to buy from them because they are only selling for a couple hours each day. Blue Sky sounds nice but thats only if you have a Bank of America near you.
Closing comments, I wouldn't use bitme.com anymore until they can make a more reasonable market for buyers.
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I'd agree that bitme has got a bitcoin supply problem, and those with bitcoins to sell (like SR vendors) might think about taking advantage of that.
As I write this, there are reasonable sell orders on bitme for about 5-6% above the mtGox rate. You can move your cash deposits from BitMe to mtGox with an AurumXchange voucher, which costs 4% including both ends. With mtGox taking a %0.6 trading fee when you convert to bitcoins, it's about the same rate.
The other method I have used to buy bitcoins, using bitinstant for moneygram to mtGox, I pay about 6% over the mtGox rate when it's all done.
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I just deposited some money in BitMe, hoping to buy some Bitcoins, but it looks like I'm going to have to either overpay or hope that there's a dip in value sometime in the near future. Nobody is selling for anything near the market rate. It looked like a good way to avoid all the ridiculous fees and cuts that every other service charges, and it still might be, but what good does it do me if I can't buy any BTCs?