DaFoot Posted June 4, 2011 Share Posted June 4, 2011 How will eBay stop me? If someone wanted to pay in Bitcoins eBay couldn't stop them. How do you propose people bid? Most folks will be bidding in £s assuming you use UK ebay, I can't imagine there is an option on ebay to say "let people bid in bitcoins" as ebay would then either have do conversions bitcoins -> 'real' currency in order to allow people to bid with real money (and all the currency exchange rate shennanigans that would entail) or they would have to provide an option to run an auction only for bitcoin paying customers. Actually - as there would be conversion involved ebay could cream off a % on the conversion. Maybe they will do it after all! Link to comment Share on other sites More sharing options...
sccsux Posted June 4, 2011 Share Posted June 4, 2011 How will eBay stop me? Try to only allow BitCoin payments to a fleabay auction, and see how long it lasts;). Selling them on ebay has already been blocked (unless heavily obfuscated - which will be picked up on). Link to comment Share on other sites More sharing options...
Nagel Posted June 4, 2011 Author Share Posted June 4, 2011 How do you propose people bid? Most folks will be bidding in £s assuming you use UK ebay, I can't imagine there is an option on ebay to say "let people bid in bitcoins" as ebay would then either have do conversions bitcoins -> 'real' currency in order to allow people to bid with real money (and all the currency exchange rate shennanigans that would entail) or they would have to provide an option to run an auction only for bitcoin paying customers. Actually - as there would be conversion involved ebay could cream off a % on the conversion. Maybe they will do it after all! Wrong end of the stick. I would accept Bitcoins in payment if someone wanted to pay that way. Link to comment Share on other sites More sharing options...
DaFoot Posted June 4, 2011 Share Posted June 4, 2011 Wrong end of the stick. I would accept Bitcoins in payment if someone wanted to pay that way. I understand what you are saying. somewhere you have to set your price which afaik isn't possible in anything but real currency. Link to comment Share on other sites More sharing options...
Nagel Posted June 4, 2011 Author Share Posted June 4, 2011 I understand what you are saying. somewhere you have to set your price which afaik isn't possible in anything but real currency. What I mean is that if I sold something for say £50, I would be happy to receive £50 worth of Bitcoins for it rather than the £50 in Sterling. Link to comment Share on other sites More sharing options...
Bulgarian Posted June 5, 2011 Share Posted June 5, 2011 What I mean is that if I sold something for say £50, I would be happy to receive £50 worth of Bitcoins for it rather than the £50 in Sterling. I suppose you could let the winning bidder know that and Ebay wouldn't be able to do anyhting, it would be like cash on delivery. Link to comment Share on other sites More sharing options...
Nagel Posted June 12, 2011 Author Share Posted June 12, 2011 Crazy stuff this weekend. Bitcoins plummeted in value from £18 to £9 yesterday and then went up to £14 today. http://bitcoincharts.com/charts/britcoinGBP#rg60zczsg2011-04-14zeg2011-06-13zvztgCzm1g10zm2g25 There was an opportunity to make or lose a fortune. Link to comment Share on other sites More sharing options...
Phanerothyme Posted June 12, 2011 Share Posted June 12, 2011 Looks like BTC day trading has started then... Link to comment Share on other sites More sharing options...
Cyclone Posted June 12, 2011 Share Posted June 12, 2011 Crazy stuff this weekend. Bitcoins plummeted in value from £18 to £9 yesterday and then went up to £14 today. http://bitcoincharts.com/charts/britcoinGBP#rg60zczsg2011-04-14zeg2011-06-13zvztgCzm1g10zm2g25 There was an opportunity to make or lose a fortune. If those charts are actually accurate you could make money simply by buying on one exchange and selling on another immediately... But the volumes are so low that you might find yourself unable to sell and be stuck with what you bought. For example the exchange you've listed was showing just over £14 today, whereas this one http://bitcoincharts.com/charts/bitmarketGBP#rg60zczsg2011-04-14zeg2011-06-13zvztgCzm1g10zm2g25 is showing a price of about £10... Even assuming that you have to pay some small commission or that buying/selling prices have a spread around the spot price you could still make a large return if you could actively buy on one market and sell on the other. Link to comment Share on other sites More sharing options...
Nagel Posted June 12, 2011 Author Share Posted June 12, 2011 If those charts are actually accurate you could make money simply by buying on one exchange and selling on another immediately... But the volumes are so low that you might find yourself unable to sell and be stuck with what you bought. For example the exchange you've listed was showing just over £14 today, whereas this one http://bitcoincharts.com/charts/bitmarketGBP#rg60zczsg2011-04-14zeg2011-06-13zvztgCzm1g10zm2g25 is showing a price of about £10... Even assuming that you have to pay some small commission or that buying/selling prices have a spread around the spot price you could still make a large return if you could actively buy on one market and sell on the other. The problem with buying on bitmarket.eu is that no one is offering any Bitcoins for sale on that market at the moment However, I've thought as there's often a huge disparity between the $ and £ price of Bitcoins there's an opportunity there. The problem is that the exchanges are slow as none of them take credit cards or PayPal so you have to make a bank transfer which slows things down. Link to comment Share on other sites More sharing options...
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