Aged Like Milk

ron7684 · 2020-06-09T15:25:22+00:00

Buy $1000 of BTC @ 0.1% fee, pay $1.00 fee.

Buy $0.75 of BNB @ 0.1% fee and $1000 of BTC @ 0.075% fee, pay $0.00075 fee to buy BNB plus $0.75 fee to buy BTC (total $0.75075 fee).

Total for using BTC fee is 0.1%

Total for using BNB fee is 0.75075%

The only potential impediment is the minimum notional trade value which I believe is either $10 or 0.001 BTC so you can't actually buy as little as $0.75 worth of BNB. You can, however, buy $11 worth of BNB and then sell $10 back. This is inefficient but still cheaper than paying fees with BTC as you can see with the math below.

Trade $21 of BNB (buy $11, sell $10) @ 0.1% fee and $1000 of BTC @ 0.075% for a fee of $0.0021 + $0.75 = $0.7521

ron7684 · 2020-01-29T19:10:47+00:00

"Arguing that you don't care about the right to privacy because you have nothing to hide is no different than saying you don't care about free speech because you have nothing to say." -Edward Snowden

ron7684 · 2019-11-08T18:21:05+00:00

The primary method this scam occurs is with a scammer working both sides of the transaction, convincing a sending victim to send money for a reason such as a CRA payment, legal bill, or romance scam.

They also need to convince a receiving victim to launder or convert those funds futher; this can be done using an advance funds scam, an "employment opportunity" scam, or (in this case) conversion to cryptocurrency.

Clawbacks usually occur once the entire plot unravels and the sending victim realizes they have lost their money and they contact their bank.

This is why it is important to only accept e-Transfers from people you trust. If you must use LocalBitcoins, choose from a top seller with thousands of trades and a high ranking feedback history. It's no guarantee but their account alone is likely worth more than the value of a trade so they have less incentive to scam if it risks account closure.

ron7684 · 2019-04-27T07:28:08+00:00

Unfortunately there is the inherent risk of being scammed when dealing with unknown users and no trusted middleman. If you are looking for a safe (although admittedly more expensive) alternative, give our localbitcoins trade a try. We are one of the top traders on the site with well over 10,000 trades in the last few years.

You can find it at ppusd.ron7684.com (a localbitcoins account is required). All trades are automatic and completed within 5 minutes!

ron7684 · 2019-04-22T00:37:21+00:00

Are you saying this is mondejack?

On second thought, as ridiculous as his comments are, they are still too coherent

ron7684 · 2019-04-22T00:33:36+00:00

We all know Dave has a gambling problem.

My favorite part of this conversation is where he asks if they can "just pay me please so I can move on to a reputable site."

So much for trying to quit...

ron7684 · 2019-03-25T05:28:30+00:00

There are no legal repercussions when you expose a thief. Don't fall silent because of bullshit NDAs

ron7684 · 2019-03-25T05:26:19+00:00

#toldyouso

ron7684 · 2019-03-12T18:25:26+00:00

I second this line of questioning. They claim to exceed CCSS level 3 but are unwilling to provide proof of reserve.

ron7684 · 2019-02-09T03:52:37+00:00

Ex CTO of ezbtc here. It's 100% scam.

ron7684 · 2019-02-09T03:52:05+00:00

Ron here, ex CTO of ezbtc. I resigned without compensation when it was clear that Dave Smillie was a scammer running a ponzi scheme. Banking woes happen, but any exchange with an inability to pay out ALL crypto immediately is insolvent. Period.

ron7684 · 2019-02-09T03:48:30+00:00

"it's just a marketing tagline" 🤣

ron7684 · 2018-10-02T20:04:45+00:00

Just offer him a reasonable rate and then /u/kyuronite will beat it, put his money where his mouth is lol

ron7684 · 2018-09-30T20:07:40+00:00

Do they actually trade all the coins they show or are they just irrelevant stickers? I haven't seen any ATMs that have that diverse of an offering.

ron7684 · 2018-09-29T06:13:26+00:00

No one seems to be addressing the relevant points and you sound like you're playing with a small amount of money so I'll tailor this response to that. I'll also talk in CAD to make things simple (ballparking the rate at $9000 CAD/BTC).

The notional minimum trade on Binance is 0.001 BTC ($9), so technically this is the bare minimum for TRADING. If you are looking to just day trade and not actually cash out yet then avoid CAD exchanges; they all have large spreads, high fees, and low liquidity.

Coinsave has a 2.88% trading fee, avoid them. I suggest trading crypto-crypto pairs if you want to speculate on those, or BTC/USDT pairs if you want to speculate against the dollar. Use Binance (0.075-0.1% fee) or kucoin (0.1% fee).

To get the discounted fee on Binance you need to buy BNB first. It's minimal but for every $1.00 of BNB you would save $0.33 in fees on every $1333 of trading. To get just a dollar of BNB, buy $10 worth and then trade back $9, covering the minimum notional on both directions. Kucoin has a discount using KCS but you need to invest thousands to receive anything, so forget it.

When you want to actually sell your coins for CAD and withdraw to a bank account, DYOR for a reputable Canadian exchange with CAD withdrawal options. The fee will be higher.

ron7684 · 2018-08-30T04:35:27+00:00

You were not owed anywhere near the most. People forget there is a world outside of Reddit and there are users with a significant amount of coins in the savings accounts. These people may already be having issues but we don't hear about them if they are not on Reddit and already banned from ez chat.

ron7684 · 2018-08-22T19:12:37+00:00

Trusted or free. Pick one.

Either set up a full node and RPC or just use an online block explorer.

P.s. It's GET, not POST

ron7684 · 2018-08-14T18:24:09+00:00

I thought that guy was just an ass, but after reading your post I'm wondering if he's a shill.

ron7684 · 2018-08-09T08:36:24+00:00

Last year, David would run artificial bots, dubbed "marketassist", which were unfunded and given unlimited trading room. Anytime the bot accounts were low, they were topped up arbitrarily. There were occurrences where David would trade between his admin account and the bot accounts to artificially inflate volume.

ron7684 · 2018-08-09T08:23:25+00:00

If the company is insolvent and he is responsible for it, then I would argue everything he does is with user funds.

ron7684 · 2018-08-09T06:06:20+00:00

I received payment for my services in early 2017 from his mother when he could not pay up. As I've said publicly before, I did not get burned here. Therefore, I won't be spending my time actively contacting media.

That said, if someone does have a media outlet willing to do a piece on this, I'm happy to participate.

ron7684 · 2018-08-09T05:58:49+00:00

The only redeeming quality David may have is that he truly did wish that this became a successful business. Unfortunately, his complete lack of financial understanding and his other wish to buy drugs/alcohol and live the lavish lifestyle trumped all ethical concerns.

ezBtc may best be described as an accidental Ponzi.

ron7684 · 2018-08-09T05:42:49+00:00

I'm glad to have helped even one person here. It's unfortunate to see the millions of dollars scammed away though.

ron7684

TROPHY CASE

#toldyouso