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Couldn't you just use bitcoin? Good exchanges exist in China. LocalBitcoin works too, though it's more work to convert $50K.
by imaginenore 11y ago
Couldn't you just use bitcoin? Good exchanges exist in China. LocalBitcoin works too, though it's more work to convert $50K.
- jacquesm 11y agoEscrow.com does not use bitcoin because of US anti-money laundering regulations and since that was the chosen escrow party the deal fell through (they insisted on using Escrow.com, not me). The next suitor did work out and they too used Escrow.com so I'm pretty happy with Escrow.com and I'm not sure that I'd trust a party that would flaunt US law to handle deals that size with any reliability. After all, they could have their accounts frozen at any moment. When you're in for the long haul it pays off to play by the book.
- viraptor 11y agoI guess what he meant was why not convert to BTC, then BTC/USD exchange, then non-Chinese bank so they can pay you.
- jacquesm 11y agoWhich non-Chinese bank would that be? The party on the other side would have had to have a bankaccount abroad already and in that case they probably would have held the funds abroad if they could have.
- meric 11y agoYou know what, they can, and that's why it's worth it for some people to spend more on buying bitcoin miners, than they'll ever get from using those miners to mine bitcoins.