Post
Topic
Board Service Announcements
Re: [ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace
by
jtibble
on 29/01/2013, 14:41:54 UTC
Hi again everybody, and Kangasbros!

Another feature request: The ability to chose how long to lock-in a price for, as another parameter in the ad-creation process.

Like this: I create a "sell" add with my formula, and as part of that process I can specify how long after a buyer submits their request that I will honor the price decided upon.

For example, I want to limit my contacts to 2 days, max. Because the price is rising 5% per day (it seems), if somebody sends me a 'buy' request and it takes me four days to actually sell them the coins, I'm losing a lot of money, even if my margins are 9%!

However, if I can specify how long the price is locked-in for, it lets me cancel the transaction and still save face if the wait is too long. I have my 'seller message' saying that I only honor prices for two days, but it seems like a good idea to allow people to search or sort by this sort of option.

Thoughts?

Thanks,
jtibble

P.S. What's to stop me exploiting this with other sellers, submitting a 'buy' order, then waiting several days to complete it, and getting the coins at an extreme discount vs the current market spot price? My morals and scruples say 'no, don't do that', but it would be good (I think) if your service codified it.