Selling Bitcoins on Trade Me

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Forums › Finance and wealth management › Selling Bitcoins on Trade Me

dominate

11 posts

Geek

#85368 17-Jun-2011 21:31

Anyone have any thoughts on if this will get banned at some stage ?

http://www.trademe.co.nz/Antiques-collectables/Coins/Other/auction-384519093.htm

There is lots of talk in the Bitcoin Forum about bad trades on Ebay and paypal have had issues who own Ebay.

http://forum.bitcoin.org/index.php?topic=16672.0

I ask because actually purchasing Bitcoins is not as easy as a ATM transaction unless you are mining, so purchasing these through a easy tradme transaction seem like a good way to go.

Love the de-centralized concept of bitcoins, although from 0.20usd last year to up to 30usd over the last month its pretty volatile and made a few early adopters theoretically quite rich fast.

http://www.weusecoins.com/

D8

codyc1515

1598 posts

Uber Geek
Inactive user

#482409 18-Jun-2011 00:05

At first I thought you meant it was a payment option, but no, its just an auction. I can see governments cracking up about taxing it since its theoretically anonymous (to my understanding).

ChrisNZL

309 posts

Ultimate Geek

#482422 18-Jun-2011 01:38

This might fall under Trade Me's banned/restricted items:

http://www.trademe.co.nz/help/331/banned-restricted-items#ebooks

Creator of Tallowmere. Working on Tallowmere 2.

dominate

11 posts

Geek

#482462 18-Jun-2011 10:08

I have emailed trademe for their official position, based on this i think purchasing bitcoins plus a small transaction fee should be the go.

Unless you want to go through several exchanges which is a pain.

D8

dominate

11 posts

Geek

#482621 18-Jun-2011 17:04

And the official trade Me reply.

Thanks for contacting us.

Currently, we don't allow the sale of Bitcoins or similar digital currency, as we feel that the potential risks to buyers outweigh the benefits of allowing them to be sold.

I hope this helps, but if you've got any other questions, please reply and we'll answer your email as soon as possible.

Kind regards,

Trade Me Support.

So i guess that settles that for now.

SandyJ

152 posts

Master Geek

#483076 20-Jun-2011 11:08

Seen this?

World's First Virtual Heist? BitCoin User Loses $500,000
Online theft is a fact of life nowadays, but yesterday a BitCoin user woke to find his haul of virtual currency had been plundered.

A user with the handle allinvain found 25,000 BitCoins had been stolen. If the thief were to cash out, he or she would net just about $500,000 at current BitCoin-U.S. dollar exchange rates.

Assuming the story isn't fabricated, allinvain's story could represent the world's first heist of virtual money. It's almost certainly the biggest.

http://www.pcworld.com/article/230377/worlds_first_virtual_heist_bitcoin_user_loses_500000.html

dominate

11 posts

Geek

#483430 20-Jun-2011 21:58

Yes this is a real threat especially with a single Bitcoin now worth anywhere in the region of 15-30 USD$ each, they seem to wildly fluctuate which makes life interesting if your selling things for bitcoins.

The suggestions are:

General Solutions
Your wallet.dat file is not encrypted by BitCoin. Anyone who can access it can easily steal all of your coins. Use one of these encryption programs if there is any chance someone might stumble upon your wallet.

7-zip - Supports strongly-encrypted archives.

AxCrypt

lrzip - Compression software for Linux and OSX that supports very high grade password protected encryption

TrueCrypt - Volume-based on-the-fly encryption (for advanced users)

WinRar - Commonly used archive software that supports verification records and encryption.

https://en.bitcoin.it/wiki/Securing_your_wallet