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Author Topic: Buying Bulk BTC [WU] - Bitstamp Rate -  (Read 1810 times)
Quickseller
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February 26, 2015, 01:48:15 PM
 #21

i don't know of any way around that. What exactly do you plan on doing with that much Bitcoin that you need access to the coins the same day you pay for them?

*note to self* Quickseller sounds like a FED.

Why so nosy?

I'm sure he is going to use them properly like everyone else.
well depending on what he wants to do with them (arbitrage, trading, but something) there may be a solution for him.

The reason on why I wouldn't want to wait 4 days for the coins to come is because I don't want the BTC to drop in value. I could have bought $10k worth of BTC, received them 4 days later at a value of $8-9k. Sure, It could work both ways and I could receive them at a value of $11-12k but I'd rather not take that risk. I want to buy the BTC and sell them on an exchange for whatever value I bought them at and then hold all the $ on an exchange until I launch my gambling website. Then I will buy all the BTC at one time, for the same price.
If you only want to get fiat to an exchange then you should use coinbase. They have a "USD" wallet (in many states) so you can send USD to your coinbase account and not have it purchase bitcoin (as most people do). If you do not live in a state that the USD wallet is available with coinbase then they may not work for you.

Holding fiat on an exchange is very risky though and is not something that I would recommend doing for any extended period of time.
BayAreaCoins
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February 26, 2015, 11:47:16 PM
 #22

i don't know of any way around that. What exactly do you plan on doing with that much Bitcoin that you need access to the coins the same day you pay for them?

*note to self* Quickseller sounds like a FED.

Why so nosy?

I'm sure he is going to use them properly like everyone else.
well depending on what he wants to do with them (arbitrage, trading, but something) there may be a solution for him.

The reason on why I wouldn't want to wait 4 days for the coins to come is because I don't want the BTC to drop in value. I could have bought $10k worth of BTC, received them 4 days later at a value of $8-9k. Sure, It could work both ways and I could receive them at a value of $11-12k but I'd rather not take that risk. I want to buy the BTC and sell them on an exchange for whatever value I bought them at and then hold all the $ on an exchange until I launch my gambling website. Then I will buy all the BTC at one time, for the same price.
If you only want to get fiat to an exchange then you should use coinbase. They have a "USD" wallet (in many states) so you can send USD to your coinbase account and not have it purchase bitcoin (as most people do). If you do not live in a state that the USD wallet is available with coinbase then they may not work for you.

Holding fiat on an exchange is very risky though and is not something that I would recommend doing for any extended period of time.

You should avoid Coinbase at all costs. There are other services out there who are good options as well as plenty of sellers.

Waiting days in a Bitcoin market isn't worth it to tons of folks I talk to. In this case you need to establish a local Bitcoin like seller who can get you locked n loaded within the hour.

If you can deposit cash at a US Bank branch I'd be happy to get you squared away. 

I'd rather deal with a normal bank ANY day over Coinbase.  Seriously... don't even fuck with Bitcoin if the freedom you are looking for is underlined by Coinbase.

https://AltQuick.com/exchange/ - Trade altcoins & Bitcoin Testnet coins with real Bitcoin. Fast, private, and easy!
https://AltQuick.com/Faucet/ Load your AltQuick exchange account with free Bitcoins & Testnet every 10 minutes.
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