Silk Road forums

Discussion => Off topic => Topic started by: draffen on August 23, 2012, 04:57 am

Title: Where do vendors sell their Bitcoin?
Post by: draffen on August 23, 2012, 04:57 am
Question for vendors: How do you end up disposing of your BTC? Do you find people locally for cash transactions (localbitcoin, btcnearme, etc.), use bank deposits, or what?

I suppose I'm assuming that most vendors *do* cash in, rather than investing. And I can't imagine the Bitcoin economy is complete enough yet that you can just make purchases with BTC that you would normally make with fiat currency...

Sorry if I'm being too nosy, but I'm really curious how other people are handling the BTC-fiat exchange, and I figure vendors have more trouble with that than most.

ETA: Oh, looks like I should be reading the Security forum -- lots of threads over there about bank deposits and the like.
Title: Re: Where do vendors sell their Bitcoin?
Post by: HowardRoarke on August 23, 2012, 05:14 am
lol i always figured you could cash it into gold then sell that, ton of hassle tho
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Post by: StExo on August 23, 2012, 08:20 pm
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Title: Re: Where do vendors sell their Bitcoin?
Post by: Shroomeister on August 23, 2012, 09:14 pm
Yeah. You are being nosy.

with that said. You can buy gold for BTC, But you would be betting on gold to continue to trend upwards.

I do not know what the current fees are, but I bought gold with BTC once (a longe time ago, before SR) and I got raped.

Its doubly risky as you are betting two markets instead of just one (BTC or GOLD)

I do however keep my eye on the gold market and needless to say the BTC, but this is totally unrelated to SR.

Anyone wanna buy some gold? :)

Can we sell gold on SR?
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Post by: StExo on August 23, 2012, 10:27 pm
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Title: Re: Where do vendors sell their Bitcoin?
Post by: Shroomeister on August 23, 2012, 10:39 pm
Quote from: StExo on August 23, 2012, 10:27 pm
Quote from: Shroomeister on August 23, 2012, 09:14 pm
Yeah. You are being nosy.

with that said. You can buy gold for BTC, But you would be betting on gold to continue to trend upwards.

I do not know what the current fees are, but I bought gold with BTC once (a longe time ago, before SR) and I got raped.

Its doubly risky as you are betting two markets instead of just one (BTC or GOLD)

I do however keep my eye on the gold market and needless to say the BTC, but this is totally unrelated to SR.

Anyone wanna buy some gold? :)

Can we sell gold on SR?

Under Jewelry? Maybe under services to buy gold for them?

well it wouldn't be buying for them. It would be gold on hand. I have a bit. on hand.
Title: Re: Where do vendors sell their Bitcoin?
Post by: draffen on August 29, 2012, 01:08 am
Quote from: Shroomeister on August 23, 2012, 09:14 pm
Its doubly risky as you are betting two markets instead of just one (BTC or GOLD)

Or three markets, really -- BTC, gold, and your local fiat currency. :-P
Title: Re: Where do vendors sell their Bitcoin?
Post by: Shroomeister on August 29, 2012, 03:22 am
I changed my policy here. I now sell all my BTC to my mum. She pays $3.75 each! cha ching!
Title: Re: Where do vendors sell their Bitcoin?
Post by: ralph123 on August 29, 2012, 10:15 am
how bout just sell some your shit and make some bitcoin then buy some shit that people would buy in your area
Title: Re: Where do vendors sell their Bitcoin?
Post by: BenCousins on August 29, 2012, 07:19 pm
most use vlad1m1rs Cash In the Mail service. Upstanding guy. Would never scam anyone. Tony76 even cashed out 250,000USD worth of BTC through vlad1m1r with no hassle at all. I would Recommend all vendors use him.
Title: Re: Where do vendors sell their Bitcoin?
Post by: DankSources on August 29, 2012, 07:59 pm
BenCousins: you sayin' Vlad help'd ol Tony out?
Title: Re: Where do vendors sell their Bitcoin?
Post by: BenCousins on August 29, 2012, 08:49 pm
im saying neither would scam anyone. eva!