The Bitcoin Forum

gil80

It's the other way around.
My question is what if I had millions of dollars in Bitcoin, sitting in an exchange/wallet site and I want to convert it to cash and deposit to my bank account.

It seems as this cannot really happen.

Just two weeks ago there was an article that stated "if you bought ...

gil80

Hi everyone,

I'm still fairly new to cryptocurrency, so this question is probably dumb... bare with me.

If one has BTC holdings that worth millions of USD, let's say $20,000,000 and they want to cash it and deposit it to their bank account, is it possible?

Since BTC is not controlled by banks ...

gil80

Hi everyone,

I'm still fairly new to cryptocurrency, so this question is probably dumb... bare with me.

If one has BTC holdings that worth millions of USD, let's say $20,000,000 and they want to cash it and deposit it to their bank account, is it possible?

Since BTC is not controlled by banks, it ...

gil80

I have similar issue. Friday the 26th, $3600 Australian dollars have been taken out of my account.
I did receive the following response:

"Your payment request from Mycelium has been cancelled.

Simplex payment ID: ####

Your transaction has been cancelled due to changes in the BTC exchange rate ...

gil80

I tried to give them the benefit of the doubt on the volume swell, but they have not even responded to my inquiries in 6 days. They have my money, and I don't have the product I paid for. Whether a "fraud" or "inept" the result is the same. I just don't want to see other people lose their money ...

gil80

Answers for you:

1. If you purchase with a CC you will also lock down the price at that moment, the reason I didn't bring it up is because CC transactions are super quick, same day, compared to to the bank transactions that take a week or so.

2. Unfortunately I can't help if you're working with a ...

gil80

DO NOT use Simplex. They recently defrauded my Credit Card of $322.00. Took the money and never rendered the Bit Coin. Total Frauds. This site links them as a Favorite Exchange.

Oh crap! That's another reason to worry now... hmm... what do I do? If they are a fraud, then I wonder why such a ...

gil80

I wish there was an app that allows the purchase of these LTC BTC and ETH in Australia.

I started using Mycelium and placed my first credit card purchase for 1 BTC and I'm waiting for transaction approval (over 6 hours now).

Friend, you can buy Bitcoin, Ethereum, and Litecoin from Australia via ...

gil80

Hi.

I tried my first small amount transaction between wallets.

I transferred from Bitcoin Wallet (Android app) to Mycelium.

I set the fee to the lowest possible. The amount is about $6AUD, the fee was too high for this small amount so I set it to the lowest.

It's been over 12 hours since the ...

gil80

Must you absolutely own bitcoin? When it comes to investing the leverage is driven by the number or of shares you own...the more you own the more you gain with each $1 or $100 increment.

Buying Litecoin at it's current $30 per coin allows you to buy more coins, leverage.

You can buy Bitcoin and ...

gil80

thanks for the help everyone!

yes, asking if it's a 'good time to buy' is a bit stupid question... I was trying to fish out if there's some notion or understanding that it's probably not a good time, given some known factors / historical stuff / educated guesses...

gil80

Hi all.
Which mobile app would you recommend using? Mycelium, Copay, electrum, blockchain, Coinbase?

Which one is more suitable for Australians?

What is the best way or fastest way of selling Bitcoins?

And.. should I buy now or wait? I want to buy at least 1 BTC.

Thanks.

gil80

You're welcome.

Try out:
Cex: https://cex.io/
Kraken: https://www.kraken.com/
Bitfinex: https://www.bitfinex.com/

P.S. Don't leave your bought bitcoins on your accounts on those sites. Withdraw them to your PC/mobile wallet as soon as possible. Better safe than sorry. This happened last year ...

gil80

thanks for the help so far!

where do you trade for large amounts?
I want to by my 1st bitcoin. 1BTC.

gil80

But I think on PC, the most used ones are Mycelium and Electrum; whereas on android I think its mycelium and copay (not sure).

Are you sure mycelium is available for PC? I couldn't find a pc version.

gil80

Check out localbitcoins.com and cex.io

Also, I don't suggest using a web wallet. Try something like Copay & mycelium

Why not?
If it's on my PC, the PC could die and I'll loose access. If it's on mobile, it could be stolen even.

Another question, does mycelium and LocalBitcoin allow to sell ...

gil80

Check out localbitcoins.com and cex.io

Also, I don't suggest using a web wallet. Try something like Copay & mycelium

Why not?
If it's on my PC, the PC could die and I'll loose access. If it's on mobile, it could be stolen even.

Another question, does mycelium and LocalBitcoin allow to sell ...

gil80

hi all,

so in the last 2 days I've been trying hard to find a website that could serve Bitcoin and Ethereum.
Coinbase seems the 1st choice but I'm getting a hard time verifying there and when I finally got to enter my debit card details, an error says that the card issuer declined (NAB)
This is ...

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