Bitcoin Forum

With some of the recent security issue of some of the exchanges what would be your best recommendation for converting BTC to USD when desired

I was thinking My Private Wallet ====> MT.GOX (2 factor login) ====> Dwolla  ====>  US bank account


is that wise? what do you do?

Sounds reasonable to me, as long as you keep in mind that the Mt. Gox -> Dwolla step can take anywhere from a few hours to a few weeks, depending on whatever random problems they are having or not having at the time.

Bitfloor and CampBX both support ACH directly, so you can avoid dwolla and just go right to your bank account. Bitfloor charges nothing and CBX charges $2 for ACH withdrawl.

And they require scanned IDs and utiliy bills etc.

I'd recommend reading the forum before you decide to go with MtGox... some people are waiting on a month to be paid.

Yes I agree  - That was the reason for my questions - I am planning to make a sizable investment in BTC and I want to be smart about how I move my investment around

Don't buy all at once and cause a price spike.

I will be sinking part of my funds into a mining operation  - it looks like butterfly labs has the biggest potential if their new stuff is real, the performance claims are valid and they can ship within a reasonable horizon.

I might buy some of their mini rigs if the time frame for their ASIC gear is too far out and they keep to their promise of $$ per $$ trade in value.


I have not seen anything else with the performance per Price in the market (although i could have missed it)

I was thinking Your Private Wallet ====> Tangible Cryptography's Single Use Deposit Address ====> One of 6 "cash like" payouts the same day.

No accounts and nothing to steal/lose/hack.  Transfers are done via Bitcoin network so we are never holding "your coins".   We buy your coins directly and payout the same day.

BitInstant will have direct BTC -> Bank Account transfers within a couple weeks.

Now this is awesome. Which countries?

What will be the limits and the transfer times

170 countries and currencies.

You'll get your money in a Bitinstant  ;)

Will be announcing soon.

I'd ask who you're sleeping with, but I think I'd rather not know.