Anyone Used Purse.io to buy Soylent?


#1

I guess I had not thought to look for Soylent on Amazon, but apparently RL is selling it on there as well, and the price seems to be exactly the same as soylent.com.

I have been using Purse.io for all of my Amazon purchases recently, but I haven’t used it for Soylent yet. Has anyone else used it to buy Soylent?

(Note: If you are unfamiliar with Purse.io, you use Bitcoin to purchase items off of Amazon for discounted prices. You set the discount you want, and the higher you set it, the longer it takes for it to be purchased. I have had good luck with 20%-25% off and usually only have to wait 1-2 days for the purchase to be made. More info on how it works on the Purse.io website.)

Edit: If you sign up using my sign up link, then we both get 0.01 BTC for free once you complete a trade: https://purse.io/?_r=X0cV98

Edit: In reply to a comment later in this thread I placed this screenshot. I am also adding it to this original post just as informational for anyone who is reading this thread in the future (black boxes added to private info):


eBay for Soylent Drink
How to pay with Bitcoin?
Payment via BitCoin?
How to pay with Bitcoin?
Be a Breakfast Pioneer with Coffiest
#2

Thanks for the info on Purse.io, now I just need some Bitcoin…

Not quite, it’s cheaper on Amazon (unless you’re grandfathered into the old pricing on Soylent.com). If you subscribe to at least five boxes a month you can still get the 15% discount on Amazon, new folks can’t get it that cheap direct anymore, nor can folks who are coming back to a canceled sub I believe. To get the discount you need to have at least five boxes through Amazon Subscribe & Save, these need to be separate orders to get the full discount, five boxes on one order won’t work.

That’s all moot though if you can get it at a 25% discount with Bitcoin. Now you just need to get Purse.io to work on S&S to get up to 40% off! :stuck_out_tongue:


#3

Yeah, I started keeping a standard amount in a Bitcoin Wallet for online purchases due to so many places offering discounts for using Bitcoin and the ease of sending money to people. Also, I like the anonymity vs other payment methods and I just dig the overall concept.

Haha, yeah. I have seen stories on reddit and places of people getting crazy discounts on Purse.io like 40% or 50%, but I never put the slider that far up. I figure it would take way too long (if at all) for the purchase to go through at that level. Also, it seems a bit too greedy to me. :stuck_out_tongue:


#4

I’m guessing the reason this works is that they are being greedy. Bitcoin’s value still swings pretty wildly, I just checked and there was a $30 change in two days. So betting they let the purchase go through when the bitcoin is cheap, pay the cash to the vendor, then when the price goes up enough they sell your bitcoin for more profit than the item originally cost.


#5

Actually, the system is just basically a marketplace. (The company behind Purse.io makes their money from taking a percentage of each transaction, not from the actual buying and selling.) That is not to say that people don’t make money speculating on Bitcoin (or other virtual currencies like Ethereum), but they mainly do so on Bitcoin trading platforms such as cex.io, Kraken, btc-e.com, GDAX, etc. The overhead is a lot less buying and selling on places like those.

The way I (think) it generally works on Purse.io is that people are paid in Amazon gift cards to do tasks by places like Amazon Mechanical Turk. They would rather have something spendable, so this is how they convert gift cards into Bitcoin. (which is basically as good as cash, and depending on your local currency in your part of the world could be a lot better than cash)

In my experience, Bitcoin’s value is becoming more and more stable over time (less wild swings than the early days) as more and more people adopt it for regular use, but it is definitely more volatile than other currencies, like the US dollar. However, a $30 swing over a few days is not that much. (It comes out to less than 5% of the value of a single Bitcoin) For comparison, the British pound lost more than 10% of its value in less than 24 hours after the Brexit vote and that is a much more established currency. Also, you can buy any portion of a Bitcoin; You don’t have to buy them in whole amounts. I will often buy, say USD$100 worth of Bitcoin, no matter what the price is.

Also, the “value” of Bitcoin as a currency is somewhat more than whatever the current trading amount is in my experience. This is due to its buying power I think. (also the value of increased anonymity vs credit/debit cards) If you were to sell Bitcoin for straight cash somewhere like LocalBitcoins, you would expect around an 8% (or more) markup for the convenience for your trouble; Also, like the discounts show on Purse.io or other sites (I often get 40-45% off for, say Panera or TGI Fridays gift cards if I feel like eating out instead of eating Soylent if I pay in Bitcoin) allow for “cheaper” transactions if you buy things with Bitcoin instead of credit/debit cards. Sure, it is some trouble converting your local currency (USD$, CAD$, £, or € to Ƀ for most on here, likely) because you have to either link a bank account and wait a few days or pay a higher fee for purchasing through a credit card to get it immediately, but I have found it worth it to keep a small amount ($100 or so) in a Bitcoin wallet at all times for purchases. If I have a big purchase coming up, like a laptop or something I can transfer a large amount in anticipation of making that purchase. It is worth the trouble for the amount of savings, in my experience.

[/Bitcoin Rant]


#6

That’s actually a very interesting approach!


#7

Are there shipping charges to consider, or do they still ship as Prime like they would if I ordered it directly?


#8

That is a good question, and to be honest I am not sure. I went back and looked at my account and everything I have ordered so far has been over the $49 threshold Amazon sets for free shipping to non-Prime members, so it has all shipped for free.

From what I remember from the orders I have placed (last one was a few weeks ago), most of the people on there who are buying products from the lists you create have Amazon Prime and the deliveries are quick. Of course, that would make sense for them financially to pay for Prime since they are likely buying so many items and also you do not release the Bitcoin to them until the item is delivered.

However, I am not sure if you bought an item under $49 if they would charge you shipping costs or not. You could always go in and add an item to your list and it would tell you how much it would cost. For Soylent specifically, it appears it can only be purchased with a Prime account, so I would assume whoever purchases it on the other end would have to have Prime and thus it would be free shipping.

I added a box of soylent to my list on Amazon then imported it over to Purse.io, and here is the screenshot (below) of what the pre-checkout page looks like (I placed black boxes over my identifying information for privacy) The slider at the top is the “Name your discount” tool and allows you to slide to the left or right for more or less percentage. I think their “Success rate” and “delivery estimate” are pretty conservative, because I have never waited more than 2 days for something to go through.

If you sign up for a Purse.io account and go to https://app.purse.io/earn (and uncheck the box that says “Hide Unavailable”) you can see the queue of all the orders waiting to be fulfilled, including your own after you place it. I think after you place a few orders and show yourself to be a reliable buyer who will leave positive feedback and release the Bitcoin in a timely manner after your order is delivered, you can probably get away with asking for a higher discount since you are more trusted.


#9

I finally bought my first bitcoin this morning in the wee hours. I’m going camping next week and was going to buy some gear from Amazon, so I figured I’d try for the discount on Purse.io. I placed the order at 0530, someone had bought it by 0730 (much quicker than they said) at a 20% discount, which was the max they would allow for my first order. I didn’t know about the cap and had to change my wishlist to a smaller item, I want to try for 30% on the big item.

Do you have a favorite exchange and wallet? I’ve signed up for three wallets so far, but bought first from Circle since they would let me make an instant purchase, then transferred it to Mycelium.


#10

Yeah, I forgot that they had a limit on your first purchase until you are “established”.

Good luck on the 30%; I haven’t gone that big on anything yet, but it should be possible. Obviously you can always lower it if it doesn’t go through.

(Also, keep in mind that at least in theory smaller purchases go through more quickly than larger purchases, due to the fact that people purchasing have varying amounts of funds to spend.)

I have purchased from Circle before as well as Coinbase. Those seem to be two of the more popular. (Circle has a rather low purchase limit though; I think only $300 per week or something?) For larger volumes (thousands of dollars), I would go through actual marketplace exchanges like cex.io, Kraken, GDAX, etc. due to the smaller percent fee that would be paid and the closer to market price. Those types of volumes are mainly for speculators and traders though.

For a wallet, I use blockchain.info but there are several good ones out there. If you buy a large amount (thousands of dollars worth), I would keep it in a wallet on your hard drive (Armory is supposed to be one of the most secure). The thing about bitcoin is that if you send it to someone (or it is stolen from you), then it is essentially gone. It is like paying for something in cash in that regard. I lost a small amount in a trade one time on Paxful with a trader in my first trade I ever did which I should have been more diligent about. It isn’t like a credit card where you can reverse the charge later on if something goes wrong; once the money is gone, it is gone for good.


#11

Yeah, the 30% is just hopeful speculation. It’s not something I must have, though it’d be nice, and I may pay a higher price anyway if Purse isn’t looking like it will happen on time. Amazon has it for $200, but I’ve found it elsewhere for $174 if Purse doesn’t work out, but I’d rather not spend more than $150.

It’s a new tent, since I’m starting to do some car camping with friends/family I thought it’d be nice to do so comfortably. I found a tent I can stand in (7’ peak) that still had a reasonable footprint (8’x8’). I have a hammock I’ve used the last couple years, and a regular 4 person tent I haven’t used in a long time, but I like the idea of having head room when weight is not a factor, like with car camping. I ordered an inflatable mattress to go with it for my first (20%) Purse order.

I was surprised how high the Purse fees get, they’re definitely making some coin. Move the slider past 35% and it pretty much just goes straight to them, you only realize a very small difference past that point. I can’t really see a reason to go past 30-35%, though I expect I’ll usually stick closer to 25% anyway.


#12

Oh, sweet. I just purchased a new tent about a year ago and I know they can get pricey fast.

That is a good point on their fee structure. Here is a breakdown of their “name your price” fees. (although if one were wanting 5% off, then one would do the “instant purchase” which has no fees)


#13

I was into mining bitcoins a bit, like 2 years ago, but had to stop nearly as soon as I started because the amount I was earning per day was less than I was spending on the electricity to get it.
I sold off all I’d earned , which was slightly under a whole coin a few months back.
I think Bitcoin isn’t going to work, because only the “rich and powerful(computationally)” can “make” bitcoins, and that kinda defeats alot of the “why bother” potential of the idea.


#14

Yes, you are right about needing to have highly optimized (expensive) hardware to do anything more than break even nowadays “mining” bitcoins.

Luckily, the adoption and use has progressed to the point that I don’t think most people even know (or care) much about the mining aspect of the currency.

I disagree that “Bitcoin isn’t going to work” just due to the widespread adoption for payments. However, I will concede the fact that Bitcoin is only currently the most popular and most widely accepted one of many hundreds of crypto-currencies currently traded. It is certainly possible that another one (or more) could win out over Bitcoin in the longer term.


#15

Looks like they’ve raised (lowered?) the bar. Initial discount is now 15%.

“Save up to 15% off your first order!”

:slightly_frowning_face:


#16

I just ordered a new Kindle this weekend (my paperwhite went kaput) at a 25% discount, I’m still waiting on a buyer…


#17

What does the “potential of the idea” have anything to do with the profitability of mining as an individual? Gold continues to have value and utility for many people, despite the fact that gold mining is cost-prohibitive to just about any individual.

An argument could be made that the potential of bitcoin is as a permissionless global transaction ledger, which isn’t really contingent on whether you or I as individuals can mine it.


#18

I ordered a thing using purse.io to try it out. Took a while, but I got it yesterday. I’m now allowed to specify up to 50% off.


#19

I placed an order 19 days ago that’s still waiting on a Buyer at 25%. Amazon said I can have 20% off if I order direct, so I’ll be cancelling the Purse order…