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Title: Linden Dollars <====> BTC Post by: tenakha on December 19, 2012, 12:40:02 PM Hi,
Just want to know if anyone has experience of exchanging BTC to Linden and v.v. I have been buying/selling BTC/GBP (as some of you know). I used to be a Second Lifer many years ago and am thinking of setting up again as I did see a small demand for a Linden <==> BT service. How are such transactions done currently? Title: Re: Linden Dollars <====> BTC Post by: Projects on December 19, 2012, 12:58:16 PM Hi T,
Virwox is the most common method Title: Re: Linden Dollars <====> BTC Post by: tenakha on December 19, 2012, 01:04:04 PM Sure,
I've seen that site - my understanding is that their commission / cut is very high ... something like $1 per BTC. Can someone confirm? I was looking to provide an alternative to them - this is something that other people have tried in the past - but didn't quite take off. Title: Re: Linden Dollars <====> BTC Post by: Projects on December 19, 2012, 01:08:51 PM I used VirWoX quite regularly but yes their commission is high I think its about 3% to exchange GBP -> SL then another 3% from SL->BTC or visa versa and if you wish to withdraw from VirWoX they charge £1 withdrawal fee.
A cheaper alternative would be something I would be interested in personally and I am sure there would be others also Title: Re: Linden Dollars <====> BTC Post by: AnonCard on December 19, 2012, 02:28:28 PM virwox charges 2.95%+ 50 linden for btc to linden or vv.
+ they charge 2% for bitcoin withdraw, means if u withdraw 1 btc then you wil get 0.98. Title: Re: Linden Dollars <====> BTC Post by: Grinder on December 19, 2012, 07:12:01 PM + they charge 2% for bitcoin withdraw, means if u withdraw 1 btc then you wil get 0.98. It's .02 BTC no matter how much you withdraw.Title: Re: Linden Dollars <====> BTC Post by: Red Emerald on December 19, 2012, 07:18:29 PM Sure, The cut is a bit high although I've managed to grow my coins by around 5% doing small trades over a year.I've seen that site - my understanding is that their commission / cut is very high ... something like $1 per BTC. Can someone confirm? I was looking to provide an alternative to them - this is something that other people have tried in the past - but didn't quite take off. I did some OTC trading in game when VirWox was blocking a bunch of people from depositing. Title: Re: Linden Dollars <====> BTC Post by: AnonCard on December 19, 2012, 07:24:24 PM + they charge 2% for bitcoin withdraw, means if u withdraw 1 btc then you wil get 0.98. It's .02 BTC no matter how much you withdraw.It's .02/BTC Which Is 2% I Think. ;D ::) Title: Re: Linden Dollars <====> BTC Post by: Red Emerald on December 19, 2012, 09:10:36 PM + they charge 2% for bitcoin withdraw, means if u withdraw 1 btc then you wil get 0.98. It's .02 BTC no matter how much you withdraw.It's .02/BTC Which Is 2% I Think. ;D ::) Quote A handling fee of 0.02 BTC per withdrawal will be charged. Title: Re: Linden Dollars <====> BTC Post by: chmod755 on December 20, 2012, 02:56:54 PM + they charge 2% for bitcoin withdraw, means if u withdraw 1 btc then you wil get 0.98. It's .02 BTC no matter how much you withdraw.It's .02/BTC Which Is 2% I Think. ;D ::) That's 2% if you buy only 1 BTC, but it's 0.02% if you buy 100 BTC. Fees: For market orders it depends on the currencies you're trading: Quote Currency | Fixed fee | Variable fee EUR/SLL 50 SLL 2,90% USD/SLL 50 SLL 2,90% GBP/SLL 50 SLL 2,90% CHF/SLL 50 SLL 2,90% EUR/ACD 50 ACD 3,90% USD/ACD 50 ACD 3,90% SLL/ACD 25 ACD 3,90% SLL/OMC 25 OMC 1,90% EUR/OMC 50 OMC 2,90% USD/OMC 50 OMC 1,90% BTC/SLL 50 SLL 2,90% For limit orders it depends on the SLL fees you paid within the last 30 days (for all currency trades): Quote Commission paid (last 30 days) | Discount | Trading fee 0 SLL 0% 3,90% 1.000 SLL 10% 3,51% 2.000 SLL 20% 3,12% 5.000 SLL 30% 2,73% 10.000 SLL 40% 2,34% 20.000 SLL 50% 1,95% 50.000 SLL 60% 1,56% 100.000 SLL 70% 1,17% 200.000 SLL 80% 0,78% This means: If you paid more than 5,000 SLL in trading fees over the last 30 days using the limit order tool is cheaper. Title: Re: Linden Dollars <====> BTC Post by: lassdas on December 20, 2012, 03:54:32 PM I was looking to provide an alternative to them - this is something that other people have tried in the past - but didn't quite take off. I wouldn't recommend to accept direct Linden Dollar payments, i know a couple of people that lost a lot of money that way.If you're selling Bitcoins inworld and someone pays you "fraudulent Lindens" you're fucked and there's no way for you to check if Lindens are "fraudulent" or not. Linden Dollars are just too insecure, you can never be sure to keep them. If you sell Bitcoins for Lindens, you can also accept Paypal. Title: Re: Linden Dollars <====> BTC Post by: tenakha on December 20, 2012, 04:00:53 PM OK - well if the security around Lindens is shite ... then I won't bother.. If you are saying that one can easily be scammed because you can't verify the authenticity of Linden dollars... then I won't bother.
I was interested because I am doing a reasonable amount of BTC <-> GBP trading and wanted to see if there was a real market for Linden <-> BTC I have an SL account so would be fairly easy for me to setup a Linden <-> BTC exchange in SL. I will consider it ... I've been thinking of buying land in SL .. and one motivator for this was if I could set up a bitcoin exchange in-game. I will reconsider what I want to do with Bitcoin/Linden. Thanks for advice. |