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Author Topic: How many bitcoin is considered a bulk amount?  (Read 3520 times)
btceuropen
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October 16, 2014, 08:00:19 AM
 #21

Generally, 50 BTC is considered a bulk amount,  50 BTC can be traded in the dark pool on lakebtc.

Okay.. Where can I buy that big amount sir? I mean I know where to buy, but can I be assured that its a safe place to buy it? Where do you buy yours?
I certainly can not sell it to you so much Bitcoin once, in fact, when you buy bitcoins in exchange, it's not completed an order from one only.

for example, if I buy 50 bitcoin on LakeBTC, probably 5 btc from A, 20 btc from B, and others from C D E F G... as long as their ask match with my bid.

This is essence of Exchange; to buy bitcoins in a place that called Changer.
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Jamacn
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October 16, 2014, 09:58:31 AM
 #22

Generally, 50 BTC is considered a bulk amount,  50 BTC can be traded in the dark pool on lakebtc.

Okay.. Where can I buy that big amount sir? I mean I know where to buy, but can I be assured that its a safe place to buy it? Where do you buy yours?
I certainly can not sell it to you so much Bitcoin once, in fact, when you buy bitcoins in exchange, it's not completed an order from one only.

for example, if I buy 50 bitcoin on LakeBTC, probably 5 btc from A, 20 btc from B, and others from C D E F G... as long as their ask match with my bid.

This is essence of Exchange; to buy bitcoins in a place that called Changer.
Agree with you, Exchanges should not be involved in the trade, so Coinbase, BitInstant etc they are not Exchange, that's why their fee is more expensive.
secondwave
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October 20, 2014, 12:02:01 PM
 #23

id agree tht 50 btc is definitely considered bulk lol thats around $19000 at current rates
Cortex7
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October 20, 2014, 12:23:38 PM
 #24

Generally, 50 BTC is considered a bulk amount,  50 BTC can be traded in the dark pool on lakebtc.

Okay.. Where can I buy that big amount sir? I mean I know where to buy, but can I be assured that its a safe place to buy it? Where do you buy yours?
I certainly can not sell it to you so much Bitcoin once, in fact, when you buy bitcoins in exchange, it's not completed an order from one only.

for example, if I buy 50 bitcoin on LakeBTC, probably 5 btc from A, 20 btc from B, and others from C D E F G... as long as their ask match with my bid.

This is essence of Exchange; to buy bitcoins in a place that called Changer.
Agree with you, Exchanges should not be involved in the trade, so Coinbase, BitInstant etc they are not Exchange, that's why their fee is more expensive.

Any trade mechanism IS an exchange mechanism, be it local bitcoins or an online exchange. The mechanism is simple... buyers meet sellers in a free market.

Just log into the various exchanges and check out their fee schedule, you will see some have fixed fees, some have tiered fees where the more fiat equivalent you trade the lower the trade fee is. Some have no trade fees.

Buying using local bitcoins is relatively expensive, you have to pay for the sellers time, transport and then perhaps a little more, which is fair enough, the free market has found the price in this scenario.

If you want to make a little income then buy any amount of bitcoin on a zero fee exchange and sell them on local bitcoins.

"Bulk" purchase will get you no discount in this case because it's zero fee to purchase anyway.

In fact if you want to log into exchange and buy 50 btc with one click then you will pay a higher purchase rate than buying 1 btc because your order will have to go a little further down the order book to be completely filled.
BootstrapCoinDev
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October 26, 2014, 06:06:43 PM
 #25

I wonder how weird should a person possibly be to sell bitcoins in bulks below market price, the only reason I can think of for why someone would do this is to avoid taxes, but the discount he's selling for is usually more than the a few percents in taxes you would pay if he just takes them to a place like coinbase.

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