Buying, Selling and Trading Virtual Currency - Carbonite Rules

[Firestar]

Ok, after chatting to a few people, this is the official decision.

Basically:

• If you're a casual seller of BTC or other VC (Virtual Currency), then you can do so without a reseller subscription.
• If you're a serious seller of BTC or other VC, then you have to purchase a reseller subscription in order to sell and or buy coins on Carbonite.

Now, to define casual and serious a bit more:

• Casual (does not require a reseller subscription)
  • You don't have a dedicated miner. You're mining on your gaming rig when you're not gaming. You only have one rig that you mine with.
  • You don't sell more than 10 coins of any type per month, or 1 BTC per month
  • You don't buy any coins at all (buying means speculation, and speculation means profit, and profit means business, in this case)
  • Lets make a R10k -R15k per month trade limit or something. Lets face it, if you're selling more than this amount in a month, then you can afford to spend R150 per month to make this kind of money. That's 1% of your income.
• Serious (requires a reseller subscription)
  • You buy (and sell) VC
  • You buy/sell/trade regularly, and in amounts larger than 10 coins, or 1 BTC
  • You have dedicated miners, or multiple rigs that you mine with
  • You run a business
  • You buy/sell/trade more than the R15k limit per month.

The above is an "any of these" situation, not an "all of these" situation. So, if you go over any one of the limits for casual, you are not longer considered casual, but serious.

Guys, the aim here to to allow freedom to those who do this as a means of making a couple of extra bucks a month, allowing their gaming rigs to mine while they're a work/school. I don't want to make this too clear. The lines are not fixed, but blurred. We purposely want to keep it this way, so that we can look at different cases on its own merit.

Ultimately, I want Carbonite to become a hub for buying and selling local VC. Invite your friends to come here and buy/sell. The more people, the more traffic for Carbonite. If you guys feel that the above rules are too restrictive, and that "casual" and "serious" is not correctly defined, please let us know. The value of these coins changes drastically. In 6 months time, we might have to say that 0.5 BTC's per month is the cut off, since BTC sells for $5000 or something silly. So, this is not fixed. As the values changes, we will definitely make changes to these, but I think, ultimately, this is less about the 10 coins (or 1 BTC), and more about whether you are a serious or semi-serious VC minder/trader, or a casual dude that makes a bit of money from his non-gaming time, in order help him buy his next gaming rig, or upgrade his existing one.

So, lets keep things this way, and lets then see where this leads. We'll monitor and make some changes as we get suggestions and as we test this out to see how it works.

 

[kimbo]

Casual (does not require a reseller subscription)

You don't have a dedicated miner. You're mining on your gaming rig when you're not gaming. You only have one rig that you mine with.
You don't sell more than 10 coins of any type per month, or 1 BTC per month
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Firestar dont you think that is a bit harsh?

I am just starting so i have a dedicated miner but there is just one 5870 in there, i have a 7950 in my gaming rig that joins in when i dont work on it. Cant you say something like min off 4 GPU's mining or such?

Also just ten coins? If you mine Doge just a little you get a thousand or two a day, ? rather go for something like 10k for the lesser coins and coins of above $10 each just 10 or so a day

Just my thought

 

[RyanW12]

Casual (does not require a reseller subscription)

You don't have a dedicated miner. You're mining on your gaming rig when you're not gaming. You only have one rig that you mine with.
You don't sell more than 10 coins of any type per month, or 1 BTC per month
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Firestar dont you think that is a bit harsh?

I am just starting so i have a dedicated miner but there is just one 5870 in there, i have a 7950 in my gaming rig that joins in when i dont work on it. Cant you say something like min off 4 GPU's mining or such?

Also just ten coins? If you mine Doge just a little you get a thousand or two a day, ? rather go for something like 10k for the lesser coins and coins of above $10 each just 10 or so a day

Just my thought

Thats why they put a Rand value there of how much is allowed to be sold each month


Sent from my iPhone using Tapatalk

 

[Air]

Ultimately, I want Carbonite to become a hub for buying and selling local VC. Invite your friends to come here and buy/sell. The more people, the more traffic for Carbonite..

dedicated sections coming for this fs? although i do understand the need and place in sa market, a dedicated local site might be a better option for you. carb runs great as tech classifieds, vc is a whole seperate ballgame, as in prophecy selling hardware and carb selling tech classifieds. having a seperate site you can incorporate graphs, news etc etc like https://www.mtgox.com

 

[Firestar]

Casual (does not require a reseller subscription)

You don't have a dedicated miner. You're mining on your gaming rig when you're not gaming. You only have one rig that you mine with.
You don't sell more than 10 coins of any type per month, or 1 BTC per month
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Firestar dont you think that is a bit harsh?

I am just starting so i have a dedicated miner but there is just one 5870 in there, i have a 7950 in my gaming rig that joins in when i dont work on it. Cant you say something like min off 4 GPU's mining or such?

Also just ten coins? If you mine Doge just a little you get a thousand or two a day, ? rather go for something like 10k for the lesser coins and coins of above $10 each just 10 or so a day

Just my thought

Sorry, but I don't think its too harsh. If you have one GFX card, and you game on it, you clearly don't take it seriously. However, if you have 3 cards, and game on the machine, my guess is that you're taking it more seriously than you'd like to admit, since there are VERY few people who have a 3 card rig only for gaming.

Two cards will be looked at on a case by case basis, but again, I don't want things to be this clear.

There is a rand value. I'm sure that if you sell a coin that's worth R2.50 per coin, the Mods and Admins will be lenient and allow you to sell more than 10 coins. However, 1 BTC is valued at around $700 these days? I think selling one coin a R7500 per month is a pretty serious business. Also, if you sell R10k worth of coins a month, you're definitely into this to make money.

Sorry, but I do not see a big enough reason to change the current rules, based on what you said.

Thats why they put a Rand value there of how much is allowed to be sold each month


Sent from my iPhone using Tapatalk

Yea, I think that's pretty much it. R10k or R15K a month is a serious business, considering it only costs you capital and electricity. I mean, you'll likely make a R7k profit on a R10k sale, if you mined the coins yourself. R7k every month will buy you a new, top of the range VGA card every month. You'll get your capital back in 6 months or less. I think that qualifies as a business.

dedicated sections coming for this fs? although i do understand the need and place in sa market, a dedicated local site might be a better option for you. carb runs great as tech classifieds, vc is a whole seperate ballgame, as in prophecy selling hardware and carb selling tech classifieds. having a seperate site you can incorporate graphs, news etc etc like https://www.mtgox.com

I'm not going to consider a dedicated site at the moment. Maybe in the future, but not right now. I think we can create a dedicated section, yea. I'll set that up this week still.

 

[Dibzzz]

[MENTION=1]Firestar[/MENTION] +1 for dedicated section for selling/trading

 

[Firestar]

Done. Added.