Wednesday, 17 October 2012

Bitcoin notes in progress

Bitcoin lending - pounds to bitcoin and back - bitcoin value - buying things in shops with bitcoin - a link about matched betting that might work in bitcoin

bitcoin lending

badbitcoin.org - lists the deliberate fraud bitcoin lending sites or a general safelist. The ones listed below aren't that bad - they're not deliberate frauds

cryptocoinzone.com/bitcoin-lending
- reviews

The only places worth a look are exchanges where you can lend to traders and BTCpop.

bitfinex - I had trouble getting money into it
bitmex - this one is not quite lending
poloniex.com/lending#BTC - good review 
Quoine - lower rates
https://liqui.io/Interest - planned but not yet working
0.066% daily fixed so no need for an autolend robot 24% apr
https://www.earnforex.com/blog/tutorial-bitcoin-investment-in-margin-lending/ review
Polobot is one free way of lending with a better autolend than is built-in to the site.
Cryptolend is another that covers the top four sites on the list

Accounting for tax looks tricky with the one free accounting service -Libre- only offering a diagram before you have to pay $19 a year. So maybe best to stick to one exchange.

https://www.cryptocoincharts.info/markets/info is a list of all exchanges but doesn't mention if any others allow lending to margin traders. Some who try to link to debit cards and Cryyptopia of New Zealand who try to add an ebay-like site, not much used in the UK. They are listed by turnover and I checked all the ones with turnover in June 2017. Quoine offers robots for trading if I understand any of this at all "Bitcoin Futures Trading: -More sophisticated trading stragies with Bitcoin futures on select markets. Algo Trading: - Currently offering Vanilla Icebergs. More algo strategies soon to be added."

BTCpop - small and tekkie - two current loans with decent ratings
- All the loans are quoted in bitcoin, so if bitcoin falls, the borrowers default I suppose.
- Most loans are unfiltered and not worth a look. Coincash or some name like that counted as class A and offered 50% so I gave it a try
- A one person operation that pays whatever interest he feels like paying on a current account, supposedly to finance the loans on the site but probably for lending on Polonex or such.

BTCjam
Closed 27th May 2017

Bitbond
- bad tried it - returns of -12% on dollar loans and minus 16% on BTC loans. Most of the loans are un-filtered. Auto lending requires one bitcoin un-invested to start with.

https://bitlendingclub.com bad shows no live loans if you haven't made a deposit - just a "no loans found" screen, while the auto-lend suggests 5-7% returns.

Stemfund - no current loans likely to fill

https://bnktothefuture.com/search/pitches
sell shares that can only be re-sold at the next funding round. The small print is strict about no way to advertise these shares to other buyers "unless they are following you" (?) and a 5% transfer fee even if you do find a buyer. There isn't a way you can sell them on a bit stock exchange.

Both of these are new in 2016-17

https://crediblefriends.com/ bad android web program for lending bitcoin and dollars at about 25%, possibly something to do with a dollar VISA card. You find the borrowers and "The company generates revenue by taking 40 percent of the interest and fees. This leaves lenders with 15% APR". “We're also partnering with collection agencies and adding the option for lenders to submit past-due accounts to collections,” they told a blog in August 2016, so it might not happen or cost extra.
https://getline.in bad - password reset doesn't work - two loans with any kind of reference, one called Tedy is a trader and gambler who wants  0.10000% paid monthly.Highest offer to him is 1% a month of 12%+ compounding a year.

https://nebeus.com/ bad accepts a load of offers to borrow from strangers, without credit rating except this - http://kb.nebeus.com/hc/en-us/articles/208746365-The-Borrower-s-rank-and-available-Loan-amounts - which is just a way of counting previous loans per ID. There is nothing about taking people to court if they don't pay. Apart from bitcoin you can load euro into their Estonian account by bank transfer.

https://loanbase.com/en - software for lending sites; moved its own lending to bitlendingclub above

https://bitconnect.co/bitcoin-information/19/investing-in-bitconnect-lending - the rates look too high to be true - http://www.marketingxtreme.net/bitconnect-review/ - bad review

https://xCoins.io - I signed-up to login - it wants paypal details - I left it at that

Pounds to Bitcoin and back

Uphold.com/en/pricing - 0.75% - bank transfer only for UK residents - 3-5 working day transfer of money to their bank in Portugal. Smile bank can't send pounds to a IBAN online so that's ruled-out for now. Credit and debit cards are temporarily unavailable.

https://support.uphold.com/hc/en-us/articles/205803186-How-to-add-and-withdraw-funds-via-bank-transfer-Europe- suggest sending euro to the euro card at whatever rate Smile Bank charges - about £8 I think.
- 0.6%  £ to € US$ - higher rates for gold or rupees. They will only pay bank transfers to an account in your name.

Often show in the top few listings on bittybot and bitbargain. Each currency account is called a "card" but only the $US one can be made to work as a virtual mastercard for a 5% fee, and it is blocked for use in a list of countries like Italy and Ukraine. Others have value linked to precious metals or currencies, with cheap conversion from one to another.

https://uphold.com/en/apps/app/netki lets you personalise a bitcoin address as in ip to url

http://help.bitbond.com/article/42-where-can-i-buy-and-sell-bitcoins?utm_source=bitbond&utm_medium=button&utm_term=sell-btc&utm_campaign=sell-btc looks a good article at a glance
Coinbase - easy but expensive; can't convert back to pounds - sometimes doesn't pop-up a 3D secure screen that it needs for a vastercard. They quote 1½% by bank transfer or 4% with a card, including credit cards, and no instructions for bank transfer, so that's 4%. Otherwise the rates quoted are OK - the costs just seem to add up to a lot like £12 on a maximum weekly allowed payment of £300. So if you know the first day of your month's free credit you might get a little back by using a cashback vastercard and using it on that day.

Bitbargain.co.uk/buy - finds cheap; harder sellers to use

Bittybot.co/uk/ - same. The hard bit is that a trader's page will read "only for experienced users with checked ID and a track record", or "minimum £300", or both. This or Bittylicious looks promising for people who sign-up with ID. I'm not sure which. The one with a floodlight typeface logo.

Localbitcoins.com/ - same. "UK" means "London Victoria" on their map. Possibly able to do ID verification for the whole site

https://paxful.com/buy-bitcoin/with-any-payment-method/GBP?fiat-min=0#content
a market for pounds to bitcoin sorted by payment method and price

Square - some kind of software you can download to become trusted on these sites -error message on Win32 - Safari cannot download on Ios

expensive
https://www.okpay.com/en/personal/fees/  - expensive

https://www.coincorner.com/Fees - expensive

https://cex.io/fee-schedule#/tab/payments - expensive

Bitcoin to debit card

https://www.cryptocompare.com/wallets/#/cards
https://www.weusecoins.com/bitcoin-debit-cards/ some reviews from the US
https://bitcointalk.org/index.php?topic=1410577.0 thread - one person says there are bitcoin exchanges that will exchange to "fiat" (? pounds) and then pay in to a normal bank account. These cheaper with better exchange rates.

https://paycent.io/faq/ cheap but not working yet - just a cashpoint fee planned

https://bit.cards/#content_home  - $20 card with a currency conversion and cashpoint fee

https://coinomat.com/cards.php a €16 debit card that charges about €3 to load or at a cashpoint, and 55cents at other points of sale. The $US version isn't working and there is no £ version

https://coinsbank.com/cards - very expensive

Bitcoin value

Has gone up, then down, then up. It is a pattern like commodity prices, suggesting that the thing is often used for commodity trading with the same to bubbles and bust. 30% up and 25% down in the last week for example, which was unusual, and odd in having a platau at the top of the graph as well. The bubble followed news of encouragement of bitcoin in Japan and discouragement of bitcoin mining in China I think - there are free email newsletters with this kind of information in them.

Bitcoins are better than commodities because you can lend them while you own them. Commodities just sit there rent-free.

There is also a value for use in transactions, and nobody knows what this is. Apparently there is a finite number of bitcoins, and of bitcoin addresses which seem to be used-up like confetti. There is also an industry writing bitcoin software; they suit that kind of thing because of free accounting and low transaction costs. Different to other currencies like sea shells for example.

Bitcoin shops

https://www.cryptocompare.com/spend/guides/where-to-spend-your-bitcoins/

Bitcoin account

https://app.libratax.com/transactions - just a spreadsheet - might be limited to 100 transactions
https://cointracking.info

Bitcoin to shops by scanning a QR bar code on an invoice/receipt to a bitcoin wallet

maybe coinbase is fine
Uphold doesn’t work on my phone
Loads of other wallets - Bee wallet works with uphold but doesn't help put pounds into uphold

Birdsnest Deptford, Pembery Tavern Hackney, Old Nun's head Peckham
Purse.io
set to about 5%

Overstock is set-up to work for the UK but has nothing you'd want.

Cex.io is expensive compared to ebay


Veganline.com for vegan shoes online is open to offers and has a bitcoin address - just email shop@ for a quote

http://veg-buildlog.blogspot.com/2015/01/matched-betting.html


There is not much money to be made by bitcoin matched betting as far as I can guess from the odd blog post, but there are bitcoin gambling web sites on the link above.

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