Silk Road forums

Discussion => Security => Topic started by: whysoserious88 on December 07, 2012, 09:06 am

Title: Btime.com Prices High
Post by: whysoserious88 on December 07, 2012, 09:06 am
So Ive been doing alot of transactions with Bitme.com, but as for the last 4 days there Buying price has been wayyy high.  Alot higher than mtgox, and other sites.  Anyone know or understand why? they were at 14.95 last night.
Title: Re: Btime.com Prices High
Post by: thecrackhead on December 07, 2012, 10:54 am
Yes, greedy motherfuckers.
Title: Re: Btime.com Prices High
Post by: mmmolly44 on December 08, 2012, 04:20 am
Bitme does NOT sell coins. It is a middle-man.  Anyone can go there and sell coins to make some bank.  If there were more sellers and competition, I'd bet the prices would be better.  I believe this is why they can stay in the grey area and keep accepting chase deposits.
Title: Re: Btime.com Prices High
Post by: Winston420 on December 08, 2012, 02:18 pm
Bitme does NOT sell coins. It is a middle-man.  Anyone can go there and sell coins to make some bank.  If there were more sellers and competition, I'd bet the prices would be better.  I believe this is why they can stay in the grey area and keep accepting chase deposits.

The problem is that that BitMe now only has a linked bank account and VouchX as methods to withdraw USD, as well as being limited to $500 in withdrawals per account in a week.  Before their liquidity problem,  I thought they had wire transfers available as a USD withdrawal option.   A VouchX transfer will cost about 4%,  so they really not attracting a lot of sellers.  People that want to make money on trading can sell coins for a premium rate on BitMe, transfer USD to mtGox via a VouchX to buy more bitcoins and repeat the process.  If you sell coin on BitMe for over 5.2% over the mtGox rate, you will make a profit -- however the $500 weekly withdrawal limit on an unverified BitMe account makes the process a little limited.