Topic: Even if you want to buy... - page 2. (Read 2301 times)
I have $X,XXX in MtGox, and I have no desire in trying to catch the knife man
i agree that getting money into the exchange takes to long....
buuuuuuut, thats why you want to keep some free cash on the exchange to take advantage of the crashes...
buuuuuuut, thats why you want to keep some free cash on the exchange to take advantage of the crashes...
Meh, just means people get more bitcoins for cheaper since it falls while they wait. The problem isn't waiting on buyers, it's sellers freaking the fuck out and continuing to sell, not realizing that if they just wait for 3 days they'll get a better price.
You're an idiot.
Do I need to say any more.
Do I need to say any more.
Alright BTC is in a free fall. I have $X,XXX in my bank account that I'd be willing to use to buy BTC's NOW. What are my options?
MtGox used for example:
1) Dwolla - initiate ACH. Wait 3 business days. Oh yeah, and send them a copy of my ID
2) Mail cash or check
3) Liberty Reserve (similar to Dwolla sans photo ID req)
4) Paxum - wire funds to Paxum, wait 3 business days to clear. Transfer funds to MtGox
5) International USD/EUR wire - Not clear on the timeframe for this one, since it's international I'd imagine at least a few days to clear
Seems like your only option is to have funds already in MtGox/Dwolla/LR in anticipation of a crash. Otherwise you wait days. This is probably why the depth on the buy side is so low. Even if investors wanted to buy in, they're stuck twiddling their thumbs since there are no real viable options to fund quickly. This needs to be addressed otherwise there's no way to stop these crashes.
MtGox used for example:
1) Dwolla - initiate ACH. Wait 3 business days. Oh yeah, and send them a copy of my ID
2) Mail cash or check
3) Liberty Reserve (similar to Dwolla sans photo ID req)
4) Paxum - wire funds to Paxum, wait 3 business days to clear. Transfer funds to MtGox
5) International USD/EUR wire - Not clear on the timeframe for this one, since it's international I'd imagine at least a few days to clear
Seems like your only option is to have funds already in MtGox/Dwolla/LR in anticipation of a crash. Otherwise you wait days. This is probably why the depth on the buy side is so low. Even if investors wanted to buy in, they're stuck twiddling their thumbs since there are no real viable options to fund quickly. This needs to be addressed otherwise there's no way to stop these crashes.
Jump to: