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You can set a limit order on your favorite exchange. It will sit there and sell them off for the price you specify as people are willing to buy them. Of course,
by gibybo 13y ago
You can set a limit order on your favorite exchange. It will sit there and sell them off for the price you specify as people are willing to buy them. Of course, if anyone is selling them cheaper than you, yours won't sell until theirs are gone.
Alternatively you can just place a market order a few times per day for a week. It's more work, but we're really only talking about ~1 minute of work per $200k or so. MtGox handles more than $10M in Bitcoin sales per day and they represent a minority of all exchange volume.
- dcc1 13y agoThe problem is getting paid by Mt Gox in dollars, euro etc as many horror stories exist of people not being paid for months or ever Other exchanges would also have similar issues, and would hit you with all sorts of antimoneylaundering questions if you try to withdraw too much
- imdsm 13y agoIncrease granularity, decrease risk magnitude.
- gibybo 13y agoFair enough, but Bitstamp is also doing close to $10M/day. You are probably right about the AML hurdle, but that is orthogonal to needing a service to sell them off slowly for you.
- dcc1 13y agoSee here for an example questions they ask personal customers trying too withdraw above certain limit (not sure what it is exactly or what criteria is used to trigger this) https://bitcointalk.org/index.php?topic=356026.msg3835542#msg3835542 https://bitcointalk.org/index.php?topic=356026.msg3835542#ms... As KYC questionnaire a company has to answer here is alot longer than above, I am not sure if allowed to post it, but it is very thorough