Silk Road forums
Discussion => Newbie discussion => Topic started by: jackie91 on August 16, 2013, 04:18 am
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It seems like a ton of people are raving about localbitcoin, is it really that good? Is that where you meet people face-to-face in your neck of the woods?
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yes , go on localbitcoins , top of screen will say buy coins , click it , first section is buying online, 2nd section is buy with cash and it will tell you the local people and there distance , im on there , or you can jus buy from me in the money section under digital currencies
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I'd love to buy from you dude, but I just got taken for $500 by an exchange vendor who had 9 pages of rave reviews. I am so leery of getting my btc on SR with no escrow or SR support. No offense intended.
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Jackie I understand you , I was taken for almost a grand also .... I had 6 coins left, but someone is getting 5 of them now .... Im going threw almost 15-20 coins a day , im in the money section if you need me
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<------- swears by localbitcoins.com
If you are expecting face to face transactions you would have to live near a large city in order to get a decent rate. Overall, most of the vendors in my area are casual and pleasant. All of my transactions have been face to face
-Judge
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<----- Swears you will get your coin, I have a coin n a half left now, bought to move it back to my offline wallet as soon as I get my message back unless someone wants to buy it
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I have only done transactions where i deposited in bank but its also possible to meet people close to where you live and make the deal face to face. Since bitinstant hasn't been fixed still, i've been using localbitcoin and have nothing but good things to say about it. :)
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I have 2 coins left to move
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Localbitcoins.com is been my go to since I decided I wasn't going to be taken advantage of anymore and left in the dark by the guys over at Bitinstant. Localbitcoin not only offers face to face meetings, but cash deposits as well at certain banks. You can also use a Dwolla account. This site uses an escrow system and a claims department.
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It's great because it has escrow. I don't swear by the site (I've heard of even vendors getting scammed out of 10k+ through the non f2f transactions), but I swear by my local vendor. He is one of the coolest guys I have met, and is just selling bitcoins and making a very comfortable amount of $. It is almost impossible to be scammed in a public place with f2f unless the whole place literally gets robbed. I say almost only because nothing is impossible :)
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very interesting
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I am sold! I should be able to do a f2f as I live near a fairly large (understatement) city. I did see where there were some transactions that had escrow protection. This gives me the war and fuzzies!
About Bitinstant...They are shut down at the moment b/c of the increasing attention btc is getting. They have to prove to the feds they aren't laundering money. However by being down for so long they are losing their relevance. People will find other places (localbitcoin for example) to get coin and bitinstant won't be able to compete b/c of losing a lot of their customer base to others. I think they aren't long for this world.
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I heard Bitinstant was down due to a hack job
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Maybe the hack was the feds? I am going by rumor control and some vague hints in a message I got from them. It could have been a hack but whatever the reason they've been down a long time and losing market share every day their out of touch.
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bitinstant is a pain in the ass anyway and i have heard of the horror stories of people losing money or transactions taking days to come thru, that is way to long when other sources can get you them within minutes, use localbitcoins it will be your best and fastest experience of acquiring coins.
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look me up in the money section
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When I've used LBC, the time from when I click "purchase" to the time I have the bitcoins in my wallet has generally been under an hour. Can't beat that.
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if im online and verify the method of money trasfer , im there in less than that
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i bought form localbitcoins , thru moneygram 3 times already. itrs AWESOME
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LBC seems worth it. All of the reload cards are done in escrow too so that's definitely a plus.
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I have 250 dolalrs left in coin to move and a lil more with in the next hour, jus message me
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Never been scammed and 100 trades roughly on there.
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SO with localbitcoin you can bring your laptop, meet the guy somewhere and have the coins added right there?
I see one is like 10 minutes away from me, might just try that if this is the case.
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It's all I use now with online bank xfer.
Almost instant.
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SO with localbitcoin you can bring your laptop, meet the guy somewhere and have the coins added right there?
I see one is like 10 minutes away from me, might just try that if this is the case.
You don't even need a laptop ;) When you request the transaction and the vendor puts that equal amount of money into a side account specifically designated for the transaction, then you receive a code from localbitcoins. You take the code to the transaction, that is all. The vendor can only receive that same code when he has released the coins into your localbitcoins account. When you get there he checks that you have the money, releases the coins, receives the same code as you, you confirm that the code provided by him/her matches your code, and then you give him the cash. Overall it took me about 30 seconds, but the guy was nice enough to chat for about an hr.
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I've only heard about good experiences with f2f transactions.
Has anyone ever had a bad experience with f2f on localBTC?
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Why would you start with $500 and not much less??
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Apart from the 1st couple of times(when I bought them on SR), I have got all my coin from a single trader at LBtc, never any trouble. I use bank transfer because I am only buying personal amounts on SR and all the face to face vendors nearby still wanted to verify my phone number etc, so would not have been anon anyway. I usually have my coins within a few minutes of doing the bank transfer, the longest wait was under half an hour. It always takes much longer for the coin to show in my SR account than it does for it to show in my LBtc wallet.
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Why would you start with $500 and not much less??
Skipping the 'proof of concept' stage can often be a costly (time&money) decision...
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localbitcoins is good. I've used a vendor on here that transfer the btc into your account from reload card. I had my btc in minutes, pretty nice as well.
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I know a lot of people swear by it, but there are not enough reliable vendors around for me to try it.
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I've only heard about good experiences with f2f transactions.
Has anyone ever had a bad experience with f2f on localBTC?
There's a thread on bitcointalk.org by a guy who was nearly scammed with £15k of fake notes. I think it was £15k anyway. He got the bank to count it and alarm bells started ringing, literally. He and the person handing him the fake cash were taken to police station.
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That's the only source I use. Look for a vendor with 100+ transactions and all good feedback.
There's an option to "Show all online in USA" or something
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I'm going to look up my favorite vendor and link you. He's great.
I bought almost $2k worth of coinage from him like a week ago
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Here ya go:
https://localbitcoins.com/accounts/profile/cashforbtc/
He's great. It looks like he only has Canadian banks up right now... when I bought from him a week ago, I bought $900 in btc by depositing the funds into Bank of America, then I bought about $1k by depositing funds into Wells Fargo.
He's really cool - you might want to just message him and ask if he will let you deposit in Bank of America, Wells Fargo, or another US bank... that is, if you are in the US. If you are in Canada you're good.
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localbitcoins is pretty good if you want anonymity on cashing out.
But since SR has a tumbler you can even cash on mtgox or bitstamp they wouldn't know the coins came from.
Also you got this:
https://blockchain.info/wallet/send-shared
if you don't trust SR mixer :)
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Might be worth toning down specific references to particular local bitcoin dealers that you are using?
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Lol I didn't actually use him last week. He was in my trusted vendors though, I prob used him in the last year.
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So what kind of info/IDs do these local bitcoin people require?
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It's the shit if there's a vendor near you. I just message the guy and then meet him at a local wifi spot. He scans my QR with his phone and sends the coin while I wait. A few seconds later I have coins and a minute later a confirmation in the chain. After that we are both on our merry way. Easy as can be. Guy charged me 3.5% for his time.
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So what kind of info/IDs do these local bitcoin people require?
You just have to put in your email address... it might ask for a phone number, but if it does, you can put in a fake one. No ID, nothing else.
Certain BTC sellers will want to verify your phone number before they even start a transaction, just avoid those. Easiest thing to do is meet face to face or deposit money into someone's bank account. I'm a paranoid weirdo, so I wear a hat and big ass sunglasses in the bank. I really don't think it's necessary though - like I said - paranoid weirdo.
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3.5% sounds just right considering everything and the alternatives....and i'm looking at it from both points of view
i could see setting up a spot at a farmers market table... that could be bank once it got rolling.. kinda meeting ground without having to go through the match making
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I have used it twice and I love it. Both transactions had great instructions from the seller and as soon as they saw the money in the account, it was released. Like 3 minutes or something crazy like that. Then to the other wallet and back to SR only took a little over an hour. Amazing.
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I have used it twice and I love it. Both transactions had great instructions from the seller and as soon as they saw the money in the account, it was released. Like 3 minutes or something crazy like that. Then to the other wallet and back to SR only took a little over an hour. Amazing.
umm what did you use, paypal to these guyz?
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I have used it twice and I love it. Both transactions had great instructions from the seller and as soon as they saw the money in the account, it was released. Like 3 minutes or something crazy like that. Then to the other wallet and back to SR only took a little over an hour. Amazing.
umm what did you use, paypal to these guyz?
Nope, cash deposits into accounts. They sent me the account info, I went to the bank, made the deposit and came home and let them know it was done and it was seriously only 3 minutes at the most. Both were friendly and fast!
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I use localbitcoins with BofA direct transfers, has not failed me yet. Always use 100% positive feedback BTC seller though.
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I use localbitcoins with BofA direct transfers, has not failed me yet. Always use 100% positive feedback BTC seller though.
Completely agree on the 100% FB!
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I tend to be a little lazy, and btcquick is too easy so I have been using that for the time being.
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I used to but online .. directly to my SR Bitcoin account