|
davidspitzer (OP)
|
 |
June 18, 2012, 07:23:57 PM |
|
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?
|
|
|
|
|
|
|
|
|
|
|
|
|
|
If you want to be a moderator, report many posts with accuracy. You will be noticed.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
epetroel
|
|
June 18, 2012, 07:29:19 PM |
|
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.
|
|
|
|
|
|
TehZomB
|
|
June 18, 2012, 07:34:53 PM |
|
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.
|
|
|
|
|
rjk
Sr. Member
 Offline
Activity: 448
Merit: 250
1ngldh
|
|
June 18, 2012, 07:36:34 PM |
|
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.
And they require scanned IDs and utiliy bills etc. |
|
|
|
|
nimda
|
|
June 18, 2012, 07:43:54 PM |
|
I'd recommend reading the forum before you decide to go with MtGox... some people are waiting on a month to be paid.
|
|
|
|
|
|
davidspitzer (OP)
|
|
June 18, 2012, 07:50:56 PM |
|
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 |
|
|
|
|
rjk
Sr. Member
Offline
Activity: 448
Merit: 250
1ngldh
|
|
June 18, 2012, 08:00:34 PM |
|
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. |
|
|
|
|
davidspitzer (OP)
|
|
June 18, 2012, 08:14:51 PM
Last edit: June 18, 2012, 08:27:54 PM by davidspitzer |
|
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) |
|
|
|
|
|
TangibleCryptography
|
|
June 19, 2012, 12:08:18 AM |
|
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 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. |
|
|
|
|
evoorhees
Legendary
Offline
Activity: 1008
Merit: 1021
Democracy is the original 51% attack
|
|
June 19, 2012, 12:40:09 AM |
|
BitInstant will have direct BTC -> Bank Account transfers within a couple weeks.
|
|
|
|
|
Jan
Legendary
Offline
Activity: 1043
Merit: 1002
|
|
June 19, 2012, 01:34:44 AM |
|
BitInstant will have direct BTC -> Bank Account transfers within a couple weeks.
Now this is awesome. Which countries? |
Mycelium let's you hold your private keys private.
|
|
|
|
davidspitzer (OP)
|
|
June 19, 2012, 01:37:46 AM |
|
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 |
|
|
|
|
Yankee (BitInstant)
Legendary
Offline
Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
|
|
June 19, 2012, 05:21:44 AM |
|
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. |
Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com |
|
|
|
terrytibbs
|
|
June 19, 2012, 05:27:56 AM |
|
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. |
|
|
|
|
Spekulatius
Legendary
Offline
Activity: 1022
Merit: 1000
|
|
June 19, 2012, 11:19:13 AM |
|
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 |
|
|
|
|
|
