Silk Road forums

Discussion => Newbie discussion => Topic started by: zigzag114 on August 29, 2013, 11:03 pm

Title: a bitcoin pawn shop
Post by: zigzag114 on August 29, 2013, 11:03 pm
I thinking of open a bitcoin pawn shop as in if u need a cash out fast ill buy them at a rate I have set and if u need btc fast ill sell them too at a set rate depending on market value of course but I don't think it a bad idea really but I wanna see what other think cuz ill start now if I know it will take off cuz im always buying and selling coin now bt I can make a biz out of it that's cool yeah buying and selling I can make lil amounts but hey if I make ten a coin im happy cuz it all adds up ten buck is ten bucks in my eyes si idk let see wow got my brain smoking now hmmmmm ...............
Title: Re: a bitcoin pawn shop
Post by: 88fxstc on August 30, 2013, 12:06 am
Ahhhh, kinda like all the other dudes in the digital currency section of the Road that buy and sell bitcoins , every day, day in and day out???
Here's another novel new business idea for ya, it might make you some money too. Fry up some ground meat, place it between some bread, and call it, hmmmmmnm, how bout ya call it a burger???   
Just bustin your chops Dude.. ;)
Title: Re: a bitcoin pawn shop
Post by: zigzag114 on August 30, 2013, 12:12 am
yeah but im talking bout a real building and store front my friend i sell and buy coin now all the time now but i think it could go mainstream
Title: Re: a bitcoin pawn shop
Post by: unbeknownst on August 30, 2013, 12:27 am
Hmmmm yeah I was a little disappointed you weren't talking about an actual pawn shop for physical goods with listings in BTC. That would be something to behold. SR should start a spinoff like BMR for dusty crap. What I love about this is that all our friends on the forums who are only 3.85 BTC short of buying a key of M1 wouldn't have to beg anymore! They would just UPS those shiny hipster bikes or Macbook Pros that their parents bought them freshman year and boom, right into the SR account.

Title: Re: a bitcoin pawn shop
Post by: 88fxstc on August 30, 2013, 12:33 am
I would guess that the volatility of bitcoinb prices would fuck you up as far as having a true pawn shop based on them. You would probably also lose one of the best parts of the bitcoin process, it's anonymity, you would probably get the IRS n such up your ass. I don't mean t sound so negative, there's just a lot of unknowns with bitcoins and they are still pretty new. Sooner or later I would expect some government agency to try to regulate them somehow. I don't know how , but, governments just cant leave a good thing alone . They will fuck it up somehow.
Title: Re: a bitcoin pawn shop
Post by: unbeknownst on August 30, 2013, 12:40 am
I would guess that the volatility of bitcoinb prices would fuck you up as far as having a true pawn shop based on them. You would probably also lose one of the best parts of the bitcoin process, it's anonymity, you would probably get the IRS n such up your ass. I don't mean t sound so negative, there's just a lot of unknowns with bitcoins and they are still pretty new. Sooner or later I would expect some government agency to try to regulate them somehow. I don't know how , but, governments just cant leave a good thing alone . They will fuck it up somehow.

I was entirely joking, but yeah you are right. It probably wouldn't work, in BTC or any other currency.
Title: Re: a bitcoin pawn shop
Post by: cryngie on August 30, 2013, 12:52 am
I cant see how it wouldnt work BTC arnt very hard to understand at all
Title: Re: a bitcoin pawn shop
Post by: abercrombiekidjf on August 30, 2013, 01:18 am
its possible im sure there are guys who run a pizza delivery service off BTC and i read an article the other day about other merchants using BTC and it was quite interesting with all the other shopping it is spent on and articles of people soley living of BTC it had alot of cool info. but i guess in theory it could work but you would probably need a fast turn over rate of products like others have said because of the fluctuation of BTC who knows whatever you attempt best of luck
Title: Re: a bitcoin pawn shop
Post by: zigzag114 on August 30, 2013, 01:23 am
no i really mean that the only cash u would get is if u was selling bitcoin for cash but if u bring something in u pay them in bitcoin u know how many coins you would have and then if the market went up u would be set but idk i think it could be a great idea just alot of kinks to work out
Title: Re: a bitcoin pawn shop
Post by: unbeknownst on August 30, 2013, 01:33 am
I cant see how it wouldnt work BTC arnt very hard to understand at all

The actual currency isn't important. BTC prices can be indexed to another currency so fluctuations are not a deal breaker, same as on SR. You'd never be able to compete with ebay for cheap stuff for one thing, and I don't think it would be feasible for many more practical reasons. There's all the shipping involved back and forth, for all kinds of oddly shaped crap, and the good folks sending their sparkly drum kits and flying V guitars in wouldn't have a clue how to pack it, so you'd have a lot of losses that way. And we're talking about dealing with used goods being pawned by drug users for drugs. I cringe to think of some of the shit that would be offered! Who is going to want to buy said stuff online without being able to examine/smell it firsthand, and how could the shop afford to provide a guarantee, without which no sane person would spend their money on such a site? How would the shop owner appraise everything, or determine if items were worth accepting? The potential for scams would be huge for not much margin. A shop with only high dollar pieces might work, but such places already exist.
Title: Re: a bitcoin pawn shop
Post by: ~o~WaterWalker~o~ on August 30, 2013, 01:40 am
just put your gf on a webcam to shake it for bitcoinz..  shake them tits for bits!
Title: Re: a bitcoin pawn shop
Post by: zigzag114 on August 30, 2013, 01:44 am
yooo i was saying that open porn site for bitcoin only
Title: Re: a bitcoin pawn shop
Post by: ~o~WaterWalker~o~ on August 30, 2013, 01:49 am
yooo i was saying that open porn site for bitcoin only

let's do it man...  TITS4BITS

Title: Re: a bitcoin pawn shop
Post by: 88fxstc on August 30, 2013, 01:58 am
yooo i was saying that open porn site for bitcoin only

let's do it man...  TITS4BITS


+1    LOL

TITS4BITS        ;D   Funny shit my man     ;D
Title: Re: a bitcoin pawn shop
Post by: red123 on August 30, 2013, 02:24 am
nice
Title: Re: a bitcoin pawn shop
Post by: sinaloacartel on August 30, 2013, 02:41 am
good idea
Title: Re: a bitcoin pawn shop
Post by: zigzag114 on August 30, 2013, 05:10 am
 I was thinking ClitCoins lol
Title: Re: a bitcoin pawn shop
Post by: buckaroo0987 on August 30, 2013, 04:39 pm
What you're talking about is called an MSB (at least in the US). Which stands for Money Services Business.
 
You can certainly set one up, and it's totally legal (this is what Gold and Silver fall under too), but there are a lot of regulations.

From my understanding you have to keep records of nearly every transaction (or atleast the people you sell too) which could be pretty difficult with Bitcoin since most people want to stay anonymous.
Title: Re: a bitcoin pawn shop
Post by: LiquiFried on August 30, 2013, 10:14 pm
TITS4BITS  Amen!