We need to increase our bitUSD position by $10,000 as soon as possible.
All of our choices to do that, amount to paying a premium of ~10% right now.
I'd like to get that cost down if possible, so I'm running this thread as an experiment.
I think the markets can handle $2k right now no problem.
I say this because the total market cap of bitUSD is around $190,000 and $10k is about 5% of that.
Supply and demand curves project that if we try to move this through at market it will drive the price to nearly $2.00 But moving $2k would only push it another 5%. This is called a bullwhip or a whale tail splash. That wouldn't be so bad in and of itself, except that the sudden vacuum caused by pushing this much through all at once, might cause a collapse later if we aren't careful.
So to sum up, we will be making orders of about $2k directly through the open market, but the remaining $8k would very likely to push the market too far against us.
Sounds like we need a submarine to safely ride under any resultant the waves, this is my submarine.
For the next 24hrs, we will pay you a premium on your bitUSD of 5%.
This means if you send us $100 bitUSD you will get back $105 USD cash.
Send the bitUSD to users "payqwik" or "gemspace", then update this thread and you will receive a PM, requesting settlement details that are necessary to complete the transaction.
I am more than willing to do escrow with any forum mod in the USA or Canada, blockchain is totally open so the bitUSD side is pretty easy to verify, however we will need to ensure funds release within 24hrs.
If you have a Bank of America personal account we can fund you immediately through direct account to account transfer for any amount up to $2000 USD. That is the easiest and preferred method since it's simple, quick and painless. If you have a business account or you bank anywhere other than Bank of America, then clearing will be via a standard bank wire.
We can post an immediate wire for you but will only do so for amounts in excess of $1000 (the fee for an instant wire is $25, we will eat that fee).
For amounts lower than $1000 it will be traditional wire and the full clearing time will depend on your bank. The minimum wire size is $100, if you send less than $100 bitUSD we will just refund it directly unless you tell us before hand that it is part of a batch.
Now you may be asking "Why bitUSD and why now?".
The primary answer is that several days ago we went on a hiring spree https://bitsharestalk.org/index.php/topic,15689.0.html
We hired several people from within the community and agreed to pay them upfront for their first month's efforts in bitUSD.
We launch the first leg of our project on Friday and I need everyone in position, which means I need to get payment out to them as promised, all of which was in bitUSD.
I'm inviting all that were offered positions into this thread to confirm.