Silk Road forums

Discussion => Newbie discussion => Topic started by: beezerbuz on September 28, 2013, 09:55 pm

Title: Localbitcoins
Post by: beezerbuz on September 28, 2013, 09:55 pm
Do these guys tend to bargain with their BTC prices or is it pretty much the posted price?  In my area there are only 5 or 6 sellers and the prices seem a bit steep to me, so I am thinking that these prices are negotiable, but wanted to get some other peoples experience with this before I go in like a swap meet  :P
Title: Re: Localbitcoins
Post by: doubsduces on September 28, 2013, 10:22 pm
Im assuming you are talking about meeting up in person.  I suggest the bank deposit route.

Otherwise, I don't haggle. prices seem fair for me so far
Title: Re: Localbitcoins
Post by: londonlondon on September 28, 2013, 10:24 pm
usually they aren't negotiable. i guess it all depends on supply/demand.
steep prices usually means little competition and few purchasers.
also, face to face sellers tend to sell for a higher price.
LL
Title: Re: Localbitcoins
Post by: beezerbuz on September 28, 2013, 10:25 pm
Yes in person.  The bank deposit guys seem to be a bit cheaper, but I am trying to eliminate that "leap of faith" when buying BTC, I hate just "hoping" that they send the BTC when going that route, but it is good to hear that you have had successful transactions using that method.  I may try it with a smaller sum of money.
Title: Re: Localbitcoins
Post by: yabbadabbadoo on September 29, 2013, 03:47 am
Yes in person.  The bank deposit guys seem to be a bit cheaper, but I am trying to eliminate that "leap of faith" when buying BTC, I hate just "hoping" that they send the BTC when going that route, but it is good to hear that you have had successful transactions using that method.  I may try it with a smaller sum of money.
You can still use localbitcoins escrow service for the cash deposit@major banks.  I can't say if there is anymore risk that way but its worked well for me.  Just do your research, read reviews, and find a quality seller.
Title: Re: Localbitcoins
Post by: VaultTec2277 on September 29, 2013, 04:24 am
Yes in person.  The bank deposit guys seem to be a bit cheaper, but I am trying to eliminate that "leap of faith" when buying BTC, I hate just "hoping" that they send the BTC when going that route, but it is good to hear that you have had successful transactions using that method.  I may try it with a smaller sum of money.
You can still use localbitcoins escrow service for the cash deposit@major banks.  I can't say if there is anymore risk that way but its worked well for me.  Just do your research, read reviews, and find a quality seller.

This is the way to go for a buyer. There's no risk because you don't need an ID, and the bank has predictable hours.
Everyone in my area is hard to meet up with, or their asking a bit too much.
Title: Re: Localbitcoins
Post by: MrPaparuna on September 29, 2013, 02:05 pm
Person in person exploit mainly our/your need for fast bitcoins (cause througgh bank takes 2-5 days minimum)
and also the need for anonymity
so they ask more (more % profit for them than average price)

Paypal seems not an option, cause really few accept it, till they get scammed, then they dont accept it (paypal resolution center doesnt accept digital curencies, )
WU might be a good option, (at least was for me) , quite instant (but it needs u to give details, as far as i know), it makes few time and u can find sellers with good prices,
otherwise through bank transfer  (2-5 days miiumum usually, and in that case might be good option, register in some big site,..and after initial set up+verify+1st transaction, which might take 4-25 days....  u can buy regularly at best prices, with 2-5 days delay)
Search around alone dude...
Title: Re: Localbitcoins
Post by: DopeManGer on September 29, 2013, 02:07 pm
where i life you pay ~5-7% more for LocalBTC but its worth the transaction speed i think :)
Title: Re: Localbitcoins
Post by: beezerbuz on September 29, 2013, 06:41 pm
Thanks for the replies guys.  I was actually using bitox and was pretty happy with them, but recently they stopped taking deposits, and things got a little dicey.  To bad because I was able to purchase BTC at a great rate and had them within hours of making a deposit.  I will be trying the bank transfer option on localbitcoins after reading here. 
Title: Re: Localbitcoins
Post by: BTC4CASH UK on September 29, 2013, 06:59 pm
Haggling is frowned upon as far as I am aware although not against the rules
Title: Re: Localbitcoins
Post by: outlander14 on September 29, 2013, 07:07 pm
Per the advice on this forum I started using localbitcoins about 4 months ago. Have established a good rapport with my local supplier and am charged only 4% on transactions over $600. So if you shop around and are use some common sense when it comes to security it seems to be a rather legit route. Long gone are the days of green dots, 10% fees, and watching good BTC vendors come and go off the road.
Title: Re: Localbitcoins
Post by: BTC4CASH UK on September 29, 2013, 07:11 pm
4% is a very good price, like the old saying goes if it ain't broke don't try to fix it :)
Title: Re: Localbitcoins
Post by: outlander14 on September 29, 2013, 07:29 pm
Interestingly enough I think my local BTC is russian mafia, but I could always be wrong. I don't want to stereotype based off the gold chains, tattoos, thick russian accent, or offer to come work for him. lol
Title: Re: Localbitcoins
Post by: BTC4CASH UK on September 29, 2013, 07:35 pm
A lot of Russian mafia are involved in bitcoin for obvious reasons, it wouldn't surprise me in the slightest :)