BitCoin Arbitrage – Failed

Update 10/7/2016 @ 14:01

I ended up cancelling all the transactions and returned everyone's money. Why?

  1. The buyer could EASILY dispute the transaction and leave me "holding the bag".
  2. Paypal does not have a return policy in place that would protect the seller for digital transactions.
  3. The chances of me getting the bitcoins I transferred back are very low.

I could have potentially lost hundreds of dollars - money that could have been spent on something else.. I have no shortage of projects that I could redirect the money to.     I know some sellers require that the buyer upload proof of identity, etc.  Paypal gives you an opportunity to upload proof, etc against the person's claim.  I am not sure how they would respond though or if that would help.  It's not worth the hassle to me.  Like I said,  the money is better spent on something else less risky.

Bottom Line: I decided it was NOT worth the risk. Have questions? Feel free to ask in the comment section.  You can study the spreadsheet below.  If you have any questions, comments, feel free.  

Previously...

I am starting small... of course I won't disclose where I am buying/selling them.... You can figure that out for yourself.  I'm not here to hand feed you.

  The spreadsheet is updated every 5 minutes.  Be sure to scroll side to side to see all information... especially if you are on Mobile.

Best Viewed on a Desktop.

inventory122

 

Inventory Tab - What I am currently Selling

 


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