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BTC price is $249.6 on Coinbase. The above localbitcoin trader pays $297.57 right now. So 1 BTC makes $47 profit. Am i correct ?
Raiders - was seeking some guidance on this too - it seems too good to be true. Why would someone buy above market?
YOU'RE THE BTC MAN BY THE WAY. Thanks so much.
Comment
raiders72001
Senior Member
08-10-05
11304
#107
Originally posted by pierro
BTC price is $249.6 on Coinbase. The above localbitcoin trader pays $297.57 right now. So 1 BTC makes $47 profit. Am i correct ?
yes minus PayPal fee.
Comment
pierro
SBR Rookie
11-09-10
48
#108
Do you know why are they paying above market? You can make easy profit if they really pay what they are adversiting. Sounds weird
Same trader sell price changed to $339.41
Coinbase buy price is : 249.96
If you buy 2k worth BTC from Coinbase it will equal around 8.001. Sell to above trader $2715. There is $715 trade profit on this. It sounds very fishy.
My first point is People can buy from Coinbase and sell it to traders if they pay above market. There is a big difference. I may be wrong because I do not know too much about BTC.
Comment
raiders72001
Senior Member
08-10-05
11304
#109
Originally posted by gwills
Raiders - was seeking some guidance on this too - it seems too good to be true. Why would someone buy above market?
YOU'RE THE BTC MAN BY THE WAY. Thanks so much.
gwills - Thanks for the compliment but I'm as confused as the rest as to why someone wants to buy at an above market price.
With Paypal, the fee has to be discussed. For low amounts, some guys will transfer as friends.
Comment
raiders72001
Senior Member
08-10-05
11304
#110
This doesn't happen now, but at one time the prices were off a substantial amount at different exchanges leading to arbs.
Have you ever tried buying on Coinbase and selling on LBC ? It looks like profitable. The trader pays you $340 and you can buy $246 on Coinbase. I am trying to figure out correct me if i am wrong. Thanks i asked too much questions raiders
Comment
raiders72001
Senior Member
08-10-05
11304
#113
Originally posted by pierro
Have you ever tried buying on Coinbase and selling on LBC ? It looks like profitable. The trader pays you $340 and you can buy $246 on Coinbase. I am trying to figure out correct me if i am wrong. Thanks i asked too much questions raiders
I sell a lot of coins above market price by accepting PayPal with 100% trusted traders but not by other methods. As stated before, no problems at all with questions.
When using LBC, the bitcoins are held in an escrow account when you place a sell order. After you get paid, then you click that you've been paid and the bitcoins are released to the buyer.
If you aren't paid within the listed time period of the sell order, the transaction is canceled and the bitcoins are returned to your account.
Comment
pierro
SBR Rookie
11-09-10
48
#114
Originally posted by raiders72001
I sell a lot of coins above market price by accepting PayPal with 100% trusted traders but not by other methods. As stated before, no problems at all with questions.
When using LBC, the bitcoins are held in an escrow account when you place a sell order. After you get paid, then you click that you've been paid and the bitcoins are released to the buyer.
If you aren't paid within the listed time period of the sell order, the transaction is canceled and the bitcoins are returned to your account.
Only thing that I did not figure out, why not these traders buy BTC on Coinbase. It is market price. Why do they pay $350 for 1 BTC. I can buy from Coinbase then sell to the these traders it shouldn't be that much easy. There is something missing
Comment
gwills
SBR Wise Guy
10-22-11
948
#115
Originally posted by pierro
Only thing that I did not figure out, why not these traders buy BTC on Coinbase. It is market price. Why do they pay $350 for 1 BTC. I can buy from Coinbase then sell to the these traders it shouldn't be that much easy. There is something missing
I am confused on this as well. Seems too easy....
Comment
swordsandtequila
SBR Hall of Famer
02-23-12
9764
#116
Originally posted by pierro
Only thing that I did not figure out, why not these traders buy BTC on Coinbase. It is market price. Why do they pay $350 for 1 BTC. I can buy from Coinbase then sell to the these traders it shouldn't be that much easy. There is something missing
Originally posted by gwills
I am confused on this as well. Seems too easy....
Can't open an account @ Coinbase? No qualifying checking account? Couple of reasons I can think of.
Comment
gwills
SBR Wise Guy
10-22-11
948
#117
Raiders - what is most above market you've ever sold on LBC? It sounds like if we sell to 100% feedback we're good.
Comment
thespeculator
SBR MVP
09-09-08
2999
#118
When people want cash quickly they will offer above market trades. If you hit a big parlay @nitrogen you probably want to cash it asap , so u offer the best deal
Comment
thespeculator
SBR MVP
09-09-08
2999
#119
But I would stick a trader with a good reputation even the price wasn't the best
Comment
tb1984
SBR MVP
09-11-08
3112
#120
Originally posted by pierro
Only thing that I did not figure out, why not these traders buy BTC on Coinbase. It is market price. Why do they pay $350 for 1 BTC. I can buy from Coinbase then sell to the these traders it shouldn't be that much easy. There is something missing
Originally posted by gwills
I am confused on this as well. Seems too easy....
Just like Ebay and everywhere else, scammers are everywhere. Good buyers with good ratings don't pay much more than the market price.
Also, sellers that ask for higher price than the market, usually take Amazon gift card(or other gift cards) as payment.
Comment
gwills
SBR Wise Guy
10-22-11
948
#121
Originally posted by tb1984
Just like Ebay and everywhere else, scammers are everywhere. Good buyers with good ratings don't pay much more than the market price.
Also, sellers that ask for higher price than the market, usually take Amazon gift card(or other gift cards) as payment.
Figured as much - makes sense as well on the gift cards. Didn't think of that. Thanks.
Comment
thespeculator
SBR MVP
09-09-08
2999
#122
Had a decent day at anonibet, made 1500 canadian on soccer. Cashed out with localbitcoins, total timeline 2 hours. These people who don't like Bitcoin, treat them like vegetables, not easy to swallow but good for u
Comment
raiders72001
Senior Member
08-10-05
11304
#123
Originally posted by thespeculator
Had a decent day at anonibet, made 1500 canadian on soccer. Cashed out with localbitcoins, total timeline 2 hours. These people who don't like Bitcoin, treat them like vegetables, not easy to swallow but good for u
nice
Comment
gwills
SBR Wise Guy
10-22-11
948
#124
Cashed out from my book as well. I don't use a BTC only book, but even still - 8 hours to my personal wallet. After that the whole LBC thing took about 30 min and straight to my Paypal account. TOTALLY AWESOME AND EASY and really no fees. How anyone does not use BTC for deposits and especially withdrawals is beyond me.
Comment
thespeculator
SBR MVP
09-09-08
2999
#125
Originally posted by gwills
Cashed out from my book as well. I don't use a BTC only book, but even still - 8 hours to my personal wallet. After that the whole LBC thing took about 30 min and straight to my Paypal account. TOTALLY AWESOME AND EASY and really no fees. How anyone does not use BTC for deposits and especially withdrawals is beyond me.
Well said
Comment
pierro
SBR Rookie
11-09-10
48
#126
What are the limits for live betting Anonibet and Cloudbet?
Comment
raiders72001
Senior Member
08-10-05
11304
#127
Originally posted by pierro
What are the limits for live betting Anonibet and Cloudbet?
Not sure about Cloudbet but Nitrogen is at 4 BTC right now and will most likely be at 20 BTC closer to tip-off. They will also have live betting for the game.
Comment
thespeculator
SBR MVP
09-09-08
2999
#128
Tonight's baseball is 10 bitcoins
raiders, is that the fixed limit or can it be bet over
Comment
pierro
SBR Rookie
11-09-10
48
#129
I would like to buy btc thru localbitcoins but many of the sellers are asking for government id. I don't want to share my id with someone that i don't know. Do you guys give id to sellers or buyers ? I don't have feedback and it is really hard for me to buy/sell thru localbitcoins.. Any comments ?
Comment
raiders72001
Senior Member
08-10-05
11304
#130
Originally posted by thespeculator
Tonight's baseball is 10 bitcoins
raiders, is that the fixed limit or can it be bet over
fixed limit
Comment
raiders72001
Senior Member
08-10-05
11304
#131
Originally posted by pierro
I would like to buy btc thru localbitcoins but many of the sellers are asking for government id. I don't want to share my id with someone that i don't know. Do you guys give id to sellers or buyers ? I don't have feedback and it is really hard for me to buy/sell thru localbitcoins.. Any comments ?
I would never give an ID to a seller.
Comment
tb1984
SBR MVP
09-11-08
3112
#132
Originally posted by pierro
I would like to buy btc thru localbitcoins but many of the sellers are asking for government id. I don't want to share my id with someone that i don't know. Do you guys give id to sellers or buyers ? I don't have feedback and it is really hard for me to buy/sell thru localbitcoins.. Any comments ?
What types of payments(Paypal, cash, ...) do they take?
Comment
thespeculator
SBR MVP
09-09-08
2999
#133
anonibet confirmation is total bullshite, been waiting an effing hour for deposit to go through
at jetwin can you deposit with btc and have it transferred to usd?
Comment
Texans365
SBR Hustler
12-17-14
96
#137
Originally posted by ItsMeMrMattE
at jetwin can you deposit with btc and have it transferred to usd?
Yes, if you selected USD as your gaming account currency during registration.
Comment
TheMoneyShot
BARRELED IN @ SBR!
02-14-07
28689
#138
I thought Nitrogen had "Pinnacle Like Odds"? They don't.
Comment
bookie
SBR MVP
08-10-05
2110
#139
Isn't that the truth Money. -108 on full game lines, but bogus multiway alternative lines that disguises huge juice and misleading player props that look like they're two ways but are not and are like roulette wheels with 5 zeros and above twenty cent lines on quarters and halves. Overtime props are -5000 / +1200.
I want to love these guys and do play there but I'm about done with them. It looks more like they're trolling for super-squares than trying to build a bookmaking business.
Comment
Dr. Fager
SBR High Roller
05-12-11
244
#140
Have to agree regarding Nitrogen, less enamored with them. Tonight's Mtl./TB game for eg. Team to score 1st goal: Mtl. -147 TB -141 No 1st goal +2641