Silk Road forums
Market => Product offers => Topic started by: White 0ut on May 14, 2013, 10:47 am
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Thinking of setting up a vendors account for MG or WU -----> BTC...
I will be offering minimal rate & among the shortest wait times.
I just noticed there are already a few vendors for this service, I plan to beat their % fees.
I just don't know if I'll have the customer base or not!
But I know there is a lot of people constantly coming to the forums looking to buy BTC!
Lemme know what you think community!
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Personally I think this is a total waste of time. There are a thousand people with this "idea" and your basically making chump change.
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So you are basically considering doing what BitInstant is already doing? How do you plan to compete with them? Their fees are pretty low. And they already have some competition, that I've frankly ignored since the site is less polished.
Yes, I'd welcome more competition in that space, but it would seem to require a substantial investment...
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if you offer even lower fees than bitinstant, then I guess?
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Sent you a message.
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Personally I think this is a total waste of time. There are a thousand people with this "idea" and your basically making chump change.
It's not chump change. Esp. if he decides to also accept MoneyPaks. Sugar Mama, from looking at her stats before she went on vacation, could have been making upwards $1000/day. And she'd be doing this just by logging on for a few hours a day. So, again--not chump change. The challenge would be in establishing trust and building a critical mass of customers once the good feedback starts reinforcing itself. And the initial outlays in making sure you have a good supply of coin. But I think he's already a vendor himself so it also could be a way for him to conveniently cash out BTCs.
Anyway, "Jemeson," way to give a thoughtful answer to a genuine question.
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Thinking of setting up a vendors account for MG or WU -----> BTC...
Jump right in, water's fine! It's a lot more work than it seems, but I don't know why you wouldn't just give it a shot. What's stopping you?
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go for it white out I'm wanting to also but I just want to do MoneyPaks. It's a lot stealthier.