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Author Topic: Virwox as secure alternative for trading btc  (Read 1088 times)
micktheminer
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June 21, 2011, 12:26:13 PM
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I've seen all sorts of talk about the amatuer quality of current bitcoin infrastructure and tend to agree, with the obvious solution being virwox. They have years of previous experience in trading virtual commodities.

However all the recommendations I've seen involve start up operations that are likely to end up in over their heads very quickly.

I've seen talk of 500k btc being compromised, and at 10USD that is worth $5,000,000 so i'm thinking a more stable company with a history of success and some financial capital to back its existence is a much more sensible option than any of the brand new start up trading outfits that exist in bitcoin land at the moment.

However all the talk I see is about all these sites I've never heard of before. This leads me to question the true motives of those involved with this whole bitcoin roller coaster. I would really like to hear any justifications for the current alternatives being offered though.

Mick.

Feel free to throw a struggling miner some btc.
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JoelKatz
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June 21, 2011, 12:34:09 PM
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For the record, it was $500,000 worth of bitcoins that was being talked about -- 25,000 BTC.

I am an employee of Ripple.
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lilika
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June 21, 2011, 12:44:09 PM
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Virwox stop trading for now  Angry

gimme gimme just a little bit
gimme gimme just a little bitcoin
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indicasteve
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June 21, 2011, 01:22:55 PM
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Yea...you can only trade BTC for SLL (L$-Second Life Linden Dollar) at virwox....but they shut down trading that pair when that DB was leaked to allow things to cool off and they prob going through that list and resetting people's passwords who had matching email addresses or usernames I suppose....idk.  I'm rather new to bitcoins and never joined mt gox... so I know I'm not on that list thank gawd.  i just traded for L$ at virwox. 

But, once you trade for L$ you can exchange the L$ for USD then use paypal to cash out at numerous exchanges.

 

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lemonginger
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June 21, 2011, 06:48:14 PM
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I like Virwox, have had no problems with it - I hope they open back up the exchange soon and they also get more people using it (liquidity is a bit low at the moment)

Transaction fees are pretty high for limit orders -- BUT this is also a very viable option if you don't want to wait for the USD->Dwolla->Exchange as well because you can buy Linden Dolalrs nearly instantly with a credit card/paypal.

Will be great once there is enough competition among exchanges to drive down some transaction fees though.
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