3 ms·

What are you even talking about? Bitcoin is super liquid with high trading volumes. You can literally convert 100 Bitcoin to $1,000,000 USD in seconds, 24/7, an

What are you even talking about? Bitcoin is super liquid with high trading volumes. You can literally convert 100 Bitcoin to $1,000,000 USD in seconds, 24/7, anywhere in the world, without moving the market very much.

jcousins 9y ago
Or you can request a block OTC trade with any of the major exchanges and they'll bite your arm off for your business. Zero slippage.
- ossguy 9y ago
  Per my above comment, do you know of such an exchange that is accepting new account registrations? We would be happy to open an account there if they can indeed complete a mid-sized trade (including any required account verification) for a 501(c)(3) non-profit organization within a week.
ossguy 9y ago
I work for a non-profit that has been trying since the beginning of January to get an account at an exchange that will convert a Bitcoin donation we received to USD. So far we have not had any luck, since many (most?) exchanges are not accepting new customers (or explicitly state that reviewing new account applications is their lowest priority) and those that do still accept new customers have multi-week wait times for opening accounts (at one exchange we've been waiting over 3 weeks ago with no reply yet). As a result, we cannot "literally convert 100 Bitcoin to $1,000,000 USD in seconds", or even 0.001 Bitcoin. In fact, we can't even do so in 3 weeks (and counting). Could you point us to an exchange that is accepting new signups and will verify an account for a 501(c)(3) non-profit organization within a day (or even a week)?
- glitch003 9y ago
  https://cumberlandmining.com https://cumberlandmining.com Note: they have a $100k min
  - ossguy 9y ago
    Thanks very much! That would work fine for us. I'll have to check with others at our org to ensure we can provide all the information, but at least they're upfront about what is likely to be required.

jcousins 9y ago

Or you can request a block OTC trade with any of the major exchanges and they'll bite your arm off for your business. Zero slippage.

ossguy 9y ago
Per my above comment, do you know of such an exchange that is accepting new account registrations? We would be happy to open an account there if they can indeed complete a mid-sized trade (including any required account verification) for a 501(c)(3) non-profit organization within a week.

ossguy 9y ago

I work for a non-profit that has been trying since the beginning of January to get an account at an exchange that will convert a Bitcoin donation we received to USD. So far we have not had any luck, since many (most?) exchanges are not accepting new customers (or explicitly state that reviewing new account applications is their lowest priority) and those that do still accept new customers have multi-week wait times for opening accounts (at one exchange we've been waiting over 3 weeks ago with no reply yet). As a result, we cannot "literally convert 100 Bitcoin to $1,000,000 USD in seconds", or even 0.001 Bitcoin. In fact, we can't even do so in 3 weeks (and counting). Could you point us to an exchange that is accepting new signups and will verify an account for a 501(c)(3) non-profit organization within a day (or even a week)?

glitch003 9y ago
https://cumberlandmining.com https://cumberlandmining.com Note: they have a $100k min
- ossguy 9y ago
  Thanks very much! That would work fine for us. I'll have to check with others at our org to ensure we can provide all the information, but at least they're upfront about what is likely to be required.