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BittBurger (OP)
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November 19, 2013, 02:17:32 AM |
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So Coinbase has a 50 BTC withdrawal limit per day right?
So if you happen to be one of those miners from 2010 with 6,000 BTC (im nowhere near this)....
... its going to take you fricken 120 days to cash out all your coins?
That's absurd.
Which exchanges allow you to fully cash out and initiate a wire to your bank account in the USA? All at once?
These major price changes clearly someone is cashing out big ... they're not doing 50 BTC per day.
Thanks
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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NothinG
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November 19, 2013, 02:19:09 AM |
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MtGox is where most of the numbers are coming from for USD.
Bitstamp is also good for big numbers, but it moves slower.
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BittBurger (OP)
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November 19, 2013, 02:20:59 AM |
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Bitstamp is also good for big numbers, but it moves slower.
Good for big numbers. Does that mean they dont have a 50 BTC withdrawal limit? Slower. Does that mean it takes longer to get to your bank account? |
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tokyoghetto
Legendary
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Activity: 1232
Merit: 1000
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November 19, 2013, 03:12:48 AM |
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This might seem like a joke, but probably organized crime. Like the Cartel or the Mob.
Say they have to move money from US to Mexico, but millions in cash is too obvious to move around. They can approach someone in the USA to sell them BTC for cash, then the Cartel moves the paper wallet to Mexico. After that they just get someone in Mexico to buy the BTC for cash.
If you are the one in the US trying to sell BTC, you get to do a block trade, dump BTC and get all your money at once, provided they don't kill you right after and just keep the money plus the BTC.
I am sure this is how its done with silver and gold. Lots of organized crime types will approach bullion dealers and try to buy gold/silver WAAAAY over spot, in exchange for them looking the other way.
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BittBurger (OP)
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November 19, 2013, 03:20:26 AM |
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This might seem like a joke, but probably organized crime. Like the Cartel or the Mob.
Say they have to move money from US to Mexico, but millions in cash is too obvious to move around. They can approach someone in the USA to sell them BTC for cash, then the Cartel moves the paper wallet to Mexico. After that they just get someone in Mexico to buy the BTC for cash.
If you are the one in the US trying to sell BTC, you get to do a block trade, dump BTC and get all your money at once, provided they don't kill you right after and just keep the money plus the BTC.
I am sure this is how its done with silver and gold. Lots of organized crime types will approach bullion dealers and try to buy gold/silver WAAAAY over spot, in exchange for them looking the other way.
What does this have to do with my question? |
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GimpyPrime
Member
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Activity: 68
Merit: 10
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November 19, 2013, 08:20:39 PM |
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Well stay away from Mt Gox until their USD accounts get sorted out, and they might not. The only well established fiat exchanges are Coinbase, Bitstamp and btc-e. However Bitstamp and btc-e were both taken down from DDOS attack over the past 48 hours. So far I am not aware of anyone losing funds though. Coinbase has been suffering other issues recently though, due to high transaction volumes.
I'm not sure you are going to get the answer you are looking for. There aren't any completely reliable exchanges out there, and these semi reliable exchanges all have some form of restriction.
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moonb
Newbie
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Merit: 0
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November 20, 2013, 12:54:18 PM |
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Well stay away from Mt Gox until their USD accounts get sorted out, and they might not. The only well established fiat exchanges are Coinbase, Bitstamp and btc-e. However Bitstamp and btc-e were both taken down from DDOS attack over the past 48 hours. So far I am not aware of anyone losing funds though. Coinbase has been suffering other issues recently though, due to high transaction volumes.
I'm not sure you are going to get the answer you are looking for. There aren't any completely reliable exchanges out there, and these semi reliable exchanges all have some form of restriction.
solid advice. |
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calian
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November 22, 2013, 08:47:28 AM |
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I wonder if you could contact coinbase privately to handle a larger buy? I've heard they buy for larger clients.
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aspiring
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November 25, 2013, 03:41:36 PM |
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I can help if anyone is looking to sell coins in volume, and we're able to offer a good price as we'll be arbitraging the coins into the China market.
As arbitrage requires large amounts of fiat to be moved around, I'm therefore quite familiar with sell and wire limits to move money quickly to take advantage of spreads between exchanges.
As there is no effective withdrawal limit via BTCChina, and our International trade business allowing us to convert as much as 2 million USD worth of CNY a day, I can potentially move your money out through China, and also help minimise your taxes all together, by having the taxes paid in BVI, before sanding your requested currency.
If you want to sell your coins at a premium through arbitraging via China market, feel free to PM me or add me to skype (id is "aspiringentrepreneur")
Cheers,
Sam
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