how are these alt whales cashing out? - page 6.

coinholic

full member

Activity: 518

Merit: 101

Quote from: European Central Bank on May 07, 2017, 11:32:55 AM

most of the action happens on poloniex yet I've been waiting months to get my withdrawals above 2000 per day.

there must be people on there with thousands of btc.

how are they getting it off? special deals? they don't plan to leave?

unless they do something then it'll take a couple of years to get their profits out.

same goes for many other alt exchanges now. that would annoy me.

Just a hunch, it may also be possible that some of these exchanges are actually owned by these whales. Now if this were the case, they could easily manipulate any of their transactions for their advantage. But like I’ve said, just a hunch... Wink

btct22

hero member

Activity: 615

Merit: 502

It took me several weeks to escape Polo's stupid limits while Bittrex's verification process was super fast and so that's my preferred exchange along with Cryptopia.

sensimilia

sr. member

Activity: 702

Merit: 251

It's still weird to me it's so hard to withdraw your coins (in normal amounts) from exchanges but it's always easy to deposit them.

joinfree

sr. member

Activity: 1246

Merit: 260

1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

Yes i was wondering about the same too, when i want to withdraw at least $1000 on my local bank they have a lot of troubles and ask me a lot of papers to confirm and make sure that i did not steal anything, or that i am legit and that is a hard earned money.
It is insane, how does the people who are owning large amounts of money withdraw their earnings? i dont know how the fuck do them manage to withdraw to their bank account, or even to fiat, i dont know..

krypt0n1

full member

Activity: 238

Merit: 100

🔵 Brickblock.io - Future of Stock Trading

I imagine each whale has their own method but the more common scenarios you could expect is

1) They often do not plan to "cash out" entirely and will just cash out of one coin to accumulate another. If they just cash out then they are losing out on a lot of profits currently. They are probably comfortable just taking out what they need during certain time intervals.

2) I've never used poloniex but with many exchanges, depending on how long you've been signed up and/or how much money you have, you have a different status level. This is the same with verification statuses. The higher your status, the more you are allowed to withdraw during a given interval.

3) They likely use multiple exchanges concurrently. If they cash out their max from each account, it could be all they need at that time.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Quote from: European Central Bank on May 07, 2017, 11:32:55 AM

most of the action happens on poloniex yet I've been waiting months to get my withdrawals above 2000 per day.

there must be people on there with thousands of btc.

how are they getting it off? special deals? they don't plan to leave?

unless they do something then it'll take a couple of years to get their profits out.

same goes for many other alt exchanges now. that would annoy me.

I think some of the whales got verified back in 2014 when it was a small exchange and had just introduced verification.

Others will have multiple accounts, so will be able to cash out from all of them.

Tenderino

full member

Activity: 336

Merit: 103

If someone has a lot of coins to sell but is limited by the exchanges then he probably have some friends that also open accounts at exchanges and get a small percentage for cashing it out.

And or they probably try to sell their coins directly to other people without the involvement of online exchanges and there are surely some exchanges with higher limits available.

dumplingsandsushi

member

Activity: 476

Merit: 41

This is where the thinking of investors and "I'm gonna be RICH!" types differ.

Investors (whales or not) don't hardly ever cash out, especially now that the industry is still in it's infancy.
Gains are reinvested to get more gains and so on and so on, it's like the basics of building capitol.

For all of the dreamers who want to invest a couple thousand and hope to hit the jackpot with some shitcoin, of course they think about cashing out.
"Oh! Crypto is gonna make me a millionaire and then I won't have to work ever again!"

croTek4

sr. member

Activity: 392

Merit: 250

the Cat-a-clysm.

usually, whales aren't whales anymore if they cash out. But if they really want to cash out, I think they would just exchange it for Bitcoin or Ethereum, and then they sell it on an exchange like Bitpanda or whatever.

However, in my humble opinion, it would really be a dumb move, as they will never need that much money in such a short time-span. Why would you suddenly need millions of dollars ? obviously, such needs are really fishy.
a normal human being only need a couple thousand dollars per month, not millions ^^

daniweb

sr. member

Activity: 448

Merit: 250

Is anyone aware of this Tokenator company and their 50% bonus on Playkey ICO? If you are, any feedback would be appreciated.

overnightmillionaire

full member

Activity: 184

Merit: 100

Theres private Over the Counter (OTC) brokers/exchanges for whales that can handle million dollar transactions and have your money in your bank the same day. Whales don't withdraw from popular exchanges like poloniex unless they are stupid.

MoreBloodWine

legendary

Activity: 1064

Merit: 1001

Hey can we expect price of ltc, eth and dash to increase when btc price trembles by aug 1? Or would you suggest to convert all tradeable assets to usdt to switch at lower values?

McWorse

sr. member

Activity: 618

Merit: 292

Quote from: sud on May 08, 2017, 03:42:06 PM

Every exchange is going to shit as the userbase grows, it's like they are not prepared for the traffic. I think we need some brand new, hi-tec, revolutionary exchange!

Here it comes:

https://bitcointalksearch.org/topic/blocknet-polo-kraken-bitfinex-killer-1906507

Wink

sud

sr. member

Activity: 826

Merit: 301

Every exchange is going to shit as the userbase grows, it's like they are not prepared for the traffic. I think we need some brand new, hi-tec, revolutionary exchange!

callback

full member

Activity: 184

Merit: 100

Quote from: dissident on May 07, 2017, 06:12:28 PM

Quote from: callback on May 07, 2017, 05:12:35 PM

It could be all fake and the biggest heist in crypto in the making

There's a better than average chance you might be right.. poloniex might be ready to destroy the credibility of cryptos.. hope you are wrong. In any case they get none of my business until they take care of simple things like this in a timely manner.

Bittrex forgot that I submitted the information and is asking me to do it again. Poloniex hasn't approved it yet, and Kraken is basically down due to server load ATM.

I hope I'm wrong, too. But it sure looks suspicious.

oaks05

hero member

Activity: 770

Merit: 501

Maybe its your country your in, my limit got raised within a few mins when i applied, only thing i can think of

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: Johnny00 on May 07, 2017, 08:47:42 PM

Then something is wrong. I was approved within 24 hoirs

or something is right with you. many people have been waiting just as long. i assume it's to do with an avalanche of new users.

Johnny00

hero member

Activity: 896

Merit: 553

Quote from: European Central Bank on May 07, 2017, 02:02:10 PM

I applied about four months ago. still waiting. even then it's only $25,000. that's still several weeks or months if you have the mountain on there that certain people must have.

Then something is wrong. I was approved within 24 hoirs

Febo

legendary

Activity: 2730

Merit: 1288

Quote from: European Central Bank on May 07, 2017, 11:32:55 AM

most of the action happens on poloniex yet I've been waiting months to get my withdrawals above 2000 per day.

there must be people on there with thousands of btc.

how are they getting it off? special deals? they don't plan to leave?

unless they do something then it'll take a couple of years to get their profits out.

same goes for many other alt exchanges now. that would annoy me.

I dont have such problems but when looking at verification page i saw this:

they can withdraw whatever they want in one go.

I also dont recall i needed much time to get 7k withdrawal limit. But that happened 3 years ago so they might change procedure in meantime.

European Central Bank

legendary

Activity: 1288

Merit: 1087

Quote from: callback on May 07, 2017, 05:12:35 PM

It could be all fake and the biggest heist in crypto in the making

possible but incredibly dumb and short sighted. they could earn hundreds of millions and sell for billions a decade or two down the line if they did right by everyone. however dumbness and short sightedness is rarely in short supply when it comes to crypto.

Topic: how are these alt whales cashing out? - page 6. (Read 3239 times)