Silk Road forums
Discussion => Security => Topic started by: linemup on February 20, 2012, 08:25 am
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Hello all
Was just wondering if it's possible to buy large amounts of bitcoins in one hit? I want to convert $5000 AUD to BTC.
Cheers
linemup
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Depends how you want to do it.
Buying 5000 currency worth from an exchange like get-bitcoin.com, via bank deposit, will surely get you looked at twice.
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That's a good point.
It's just I don't want to have to convert it at 4.0 I would rather convert it at 1.5 if you know what i mean?
By all means if you have an option or way to go about it please share.
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Correct me if im wrong but the exchange rate is the exchange rate your not going to get 1.5 when the markets at 4..
The australian bit coin site asks you to enter information on the site, amount of money to convert and address for funds to be deposited, then within 4 hours u have to physically go into a national bank and fill out a deposit slip with the information provided by them, they charge a percentage in their conversion rates and 2 bitcoins. Essentially u could go into the bank(or have someone go if ur worried about video monitoring) deposit money with a fake identity to their account, they dont ask for id on deposit, and the site uploads the bitcoins to your nominated wallet.
If you are looking to convert that amount to sit on for a while until the bitcoin value is back up around 7-8 (if it gets there) this could be an anonymous way to get it into your wallet and you'd be shopping at 40percent off trade prices?
Basically my point u aren't going to save money buy buying bulk bitcoins like you do ur other wares..Or did i misunderstand ur reply?
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Um Mtgox. I wouldn't do 5,000 here.