I think what will die out is smaller sellers like myself who consistently lose money because its tied up in Transaxe (escrow) for way longer than it needs to be.

Why can't funds be linked to reviews? As soon as a customer had left a review there could be a box which says "are you happy with your purchase and for your funds to be released to the vendor? - yes - no". If yes the funds are released and if no it takes you to a dispute page. So simple and would solve so many issues but as with every other sensible idea on here, like introducing another more stable Crypto option, it will never happen.

To be honest if I'm consistently losing 15-20% when BTC falls on its arse during the 16 days its stuck in escrow, plus the 10-15% seller fees on top of that, selling on LB is becoming less and less viable by the day.

There has to be a better way to run this site than have it rely on something so volatile. But I won't hold my breath.

Cheers BB

Agreed, a release on funds would be handy for small timers like myself & even the big boys as we are all losing out during the 16 day hold with the btc price being so volatile, it can work in your favour I guess but I’m with you on this one.

SCOOBIES

Might just be my luck but I can't even remember the last time it actually worked in my favour!

Hopefully it'll at least stabilise at some point. 🤞

Cheers BB 🍻

Fully agreed on BB on the review payment system that's a great idea as every vendor big or small is at risk with a 16 day payout.

The markets are going to keep on crashing until they can get inflation under control which won't be any time soon. I stated this back in December and was attacked for my forward-thinking at the time.

Surely being a grower you are taking less risk in your initial financial outlay than say a retail seller?

A grower surely is in the best position to take advantage of this current climate?

Hope you are good as always GT

You're probably right that i'm less financially exposed than many "middle men" (for want of a better phrase) but the point is more about 'where' i sell rather than 'if' i sell.

If i have someone in London who offers (just as an example) £140 per zip for the entire crop for cash. A year ago i'd say no, these days those offers are far more tempting. Less hassle, less effort and less overheads.

It just means people like myself might look elsewhere to sell rather than risk a slightly higher profit margin that can dissapear overnight due to BTC's volatility.

I guess i should count myself lucky as i can ride it out, but i have a feeling others might not be in such an advantageous situation and the whole 16 day escrow thing is absolutely crippling their businesses.

Like i say fingers crossed it'll stabilise.

All the best buddy.

Cheers. BB

yeah i used a big seller on a dn market that insisted on a review and early finalization to ship. once he had volume he did a runner on all of us.

Couldn’t you guys use USDT or one of the other stable coins?

Bitcoin works better as a digital currency when its lower in value rather than being inflated as a speculative digital commodity. It'll probably bounce back like it has before but when I joined LB it was around £6k and it would be great if it could get back to those levels or lower. (should say I obviously don't want to see any biggas losing money and wish you all the best).

Agree 100% with BB that the funds should be available to the seller after being reviewed too, maybe say 24 or 48 hours after the review is left (assuming not in dispute) that way the buyer still has a bit of extra protection but the seller doesn't have to wait 16 days. Escrows do normally work both ways like that.

Looks like it will for a while looks like it's doing its 4 year cycle

So what’s the advice if you have funds tied up in BTC. Leave as is or sell?……

I’d personally HODL!😃

Buy more

Hold and buy more every time it drops to bring your cost average down.

Only put in what you can tie up say for the next 2 years or so.

Always think long-term look at the internet in the mid 90's people were saying then if it would work and look at it now. It takes 20 years or so for things to go mainstream we are 14 years in on BTC.

And the tech bubble bursting in 99 was a sifting process where the weak fell by the wayside (tech companies that went bust) and then the likes of Google survived.

If only in hindsight and all that.

Keep the faith

GT

Too late now mate hang on to them, might be a while now though even years before it goes back up. It could be an opportunity to buy a bitcoin.

Is bitcoin halving soon? I know nothing of this really but how will this affect the price?

2024 and that's when the next bullrun should start, however there are investing companies trying to get an approval from SEC to have a spot bitcoin ETF available for sometime and they have to give in eventually. This should make the price pump. But end of the day who knows all I'm doing is holding my bags and buying some more when possible.

What's the point of having an ETF which tracks the price of Bitcoin? Why not directly buying BTC?

The point is it’s another financial instrument to play to the lemmings so even more walk off the cliff of financial ruin

Makes sense