Just got an email from coinbase

**Grivas_Digeni** · 04-13-16, 05:53 AM

Are they asking because of fraud, or because of tax evasion implications?

$70,000 is a lot of money to go untaxed, you know. Can you not just open multiple accounts at different banks and run several BTC wallets, each connected to a different account (even though under your name)? Wouldn't that help you fly under the radar a little longer?

**NewYorkStress81** · 04-13-16, 06:13 AM

I believe they are asking because of gambling suspicion (this is why my circle was banned)
I do have multiple banks that I use to sell. I use to split between coinbase and circle, but circle is already banned.

**Grivas_Digeni** · 04-13-16, 06:42 AM

The obvious recommendation could be using sites like localbitcoin where you actually have to meet up with people to trade. In a bigger city this could be fairly simple, although obviously not nearly as efficient as doing everything on your computer.

But it sounds like you do serious volume, so you were bound to get shut down (or at least looked at closely) sooner or later. I'd say it's time to diversify your portfolio.

**NewYorkStress81** · 04-13-16, 06:55 AM

I think Localbitcoin isn't allowed in NY, I looked into that.

**Optional** · 04-13-16, 06:57 AM

I think Airbitz might be an option in NY

**NewYorkStress81** · 04-13-16, 07:08 AM

Originally posted by Optional

I think Airbitz might be an option in NY

I will look into that, thank you. Hopefully coinbase doesn't shut me down. They've made thousands of dollars off commissions from me.

**NewYorkStress81** · 04-13-16, 07:14 AM

Airbitz doesn't accept NY

**theviking** · 04-13-16, 07:17 AM

Originally posted by NewYorkStress81

I think Localbitcoin isn't allowed in NY, I looked into that.

not allowed? you can sell and buy bitcoins from people all over world, with international and local banktransferes or other options with.
how can NY stop that? I guess you have seen this https://localbitcoins.com/sell-bitco...ank-transfers/

**Optional** · 04-13-16, 07:18 AM

Originally posted by NewYorkStress81

Airbitz doesn't accept NY

Raiders will have some ideas for you when he sees the thread hopefully.

**NewYorkStress81** · 04-13-16, 07:32 AM

Originally posted by theviking

not allowed? you can sell and buy bitcoins from people all over world, with international and local banktransferes or other options with.
how can NY stop that? I guess you have seen this https://localbitcoins.com/sell-bitco...ank-transfers/

I've only tried to buy before from them, and it states that NY is restricted

**Grivas_Digeni** · 04-13-16, 10:40 AM

Originally posted by NewYorkStress81

I will look into that, thank you. Hopefully coinbase doesn't shut me down. They've made thousands of dollars off commissions from me.

Originally posted by NewYorkStress81

I've only tried to buy before from them, and it states that NY is restricted

Oh it's never enough. They don't want to just profit, they want to do it LEGALLY without taking any risks. Talk about living in a state with only they highest taxes in the universe?

Unless your handle is misleading, my recommendation is now this: check out Dallas, TX. Once Romo and Nowitzki retire, they will have two sports teams contending for championships for years to come. Low tax too!

**Ghenghis Kahn** · 04-13-16, 11:20 AM

What bullshit. Bitcoin site asking you all these stupid questions defeats the purpose of the existence of bitcoin. Bunch of fukking hypocrites.

**kj8210** · 04-13-16, 11:31 AM

Dude I live in NYC and make bitcoin trades weekly through localbitcoins. However now I kind of have a client list locally so whenever I have bitcoin I just hit them up and they usually buy it off of me. Some want to buy upwards of 10k in BTC (I dont always have that volume), but I also sell around 4-5% below market value to get rid of them quickly

**kj8210** · 04-13-16, 11:37 AM

Also I think this means that you cant buy and sell bitcoins by using localbitcoins directly, such as keeping your funds in their escrow. But you can definitely find a way to contact people and sell with them

**Triumph** · 04-13-16, 11:44 AM

What I find hilarious is, when I emailed coinbase about the fraudulent bitcoin withdrawl that occurred when my account was drained by a thief, I even had the transaction #, they responded , by saying " we can't help you all transactions must always remain anonymous"

**thespeculator** · 04-13-16, 01:30 PM

Originally posted by kj8210

Also I think this means that you cant buy and sell bitcoins by using localbitcoins directly, such as keeping your funds in their escrow. But you can definitely find a way to contact people and sell with them

The person I trade with also doesn't use the escrow for cash. In a place like nyc there should be plenty of traders

**Grivas_Digeni** · 04-13-16, 03:40 PM

Originally posted by Triumph

What I find hilarious is, when I emailed coinbase about the fraudulent bitcoin withdrawl that occurred when my account was drained by a thief, I even had the transaction #, they responded , by saying " we can't help you all transactions must always remain anonymous"

If only class action was possible based on what these idiots in support write to clients...

**LordVodka** · 04-13-16, 05:31 PM

So all the hoopla over bitcoin and it's just as bad as anything else for US bettors. Fuk this.

**NewYorkStress81** · 04-13-16, 05:42 PM

They just emailed me back, thanking me for my prompt response and offered me another tool to help with "my clients". So at least for now I'm not shut down, but I I'll see how long this lasts.

**thespeculator** · 04-13-16, 06:25 PM

Originally posted by LordVodka

So all the hoopla over bitcoin and it's just as bad as anything else for US bettors. Fuk this.

Was thinking the same thing. But with localbtcoins it is still simple, never a need for other transfers. Just straight to book and back

**habitualwinning** · 04-14-16, 03:20 AM

Do you have to link a bank account to your bitcoin account to start it? I'm confused cause I was under the assumption that was the case but now I'm reading about localbtc and people meeting up and trading bitcoin etc. I'm lost. The big draw to btc is the decentralization and anonymity of it all. Linking a bank account kinda defeats the purpose of all that cause banks have all of your information and can analyze all your transactions.

**ANGRYBLACK** · 04-14-16, 04:21 AM

Rent a shithole in NJ for 500/month and open a bank account there. Hell, rent it out. One 45 minute drive is a small price to pay if you moving real volume...

**hello1234567** · 04-14-16, 10:09 AM

Snapcard.io is another option.

**NewYorkStress81** · 04-14-16, 10:19 AM

Originally posted by hello1234567

Snapcard.io is another option.

I actually opened one up. 1500 a day withdrawel limits. That will be my backup plan, should coinbase shut me down.

**themike78** · 04-14-16, 10:44 AM

Originally posted by habitualwinning

Do you have to link a bank account to your bitcoin account to start it? I'm confused cause I was under the assumption that was the case but now I'm reading about localbtc and people meeting up and trading bitcoin etc. I'm lost. The big draw to btc is the decentralization and anonymity of it all. Linking a bank account kinda defeats the purpose of all that cause banks have all of your information and can analyze all your transactions.

Bitcoin is far from anonymous if you ever want to turn it into money.

**habitualwinning** · 04-14-16, 12:15 PM

Originally posted by themike78

Bitcoin is far from anonymous if you ever want to turn it into money.

That sucks. Seems pretty hypocritical to me then but I'm far from an expert on btc. So the only way to actually withdraw money is to link it to your bank account and have it go through that right? If that's the case it's really no different than just using a bank to begin with.

**Grivas_Digeni** · 04-14-16, 01:32 PM

Originally posted by NewYorkStress81

I actually opened one up. 1500 a day withdrawel limits. That will be my backup plan, should coinbase shut me down.

Should you start using your 'back up plan' regularly, your 'plan A' will last much longer. No real volume, no problems. Think ahead!

**NewYorkStress81** · 04-14-16, 05:27 PM

Spoke to soon! Coinbase now is limiting to $200 a day and on a 90 day probation lol. In my initial email, I said one of the reasons I use it is to sell it for a profit. I thought that wAs generally the point of bitcoins! They told me it was in violation of their policy, yet they have received thousands of dollars worth of commission on my sells.

Since its been about 6 months since I was banned from circle. I opened up a new account with a different email address. They have no limit withdrawel now, which is much better than before. Hopefully I don't get caught.

**jjgold** · 04-16-16, 08:13 AM

still many hurdles with bitcoin

It is never easy with any damn method

**themike78** · 04-16-16, 11:47 AM

Originally posted by habitualwinning

That sucks. Seems pretty hypocritical to me then but I'm far from an expert on btc. So the only way to actually withdraw money is to link it to your bank account and have it go through that right? If that's the case it's really no different than just using a bank to begin with.

Pretty much. Bitcoin is just basically the middle man. It kind of reminds me of Neteller a little bit back in the day. Of course we all know what happened to Neteller eventually for U.S customers. Same thing will happen to bitcoin I am sure.

**ace7550** · 04-16-16, 12:02 PM

Originally posted by NewYorkStress81

Coinbase just emailed me asking for specifics on what I use the bitcoins for and where I buy bitcoins if not from therm. I said that I have a business where clients pay me through bitcoins and then pay my employees through Bitcoin. I always use an intermediary wallet, but in the last 3 months I've sold over 70,000 in bitcoins. I've already been banned from circle. Just in case I get banned from coinbase, are there any other sites that you can sell directly to your bank account? Please let me know of any.

Hey New York,
Itbit is another great option. I have made multiple transfers to my bank account with them in the 4-digit range and they've never asked questions. I still use blockchain or poloniex as an intermediary with them just in case though.
Also, day trading crypto currency on Poloniex is a great excuse for having excess btc. Saying you own a company that takes btc is good but if they want to see invoices or a website or something it could get sticky.
And I'll finish with this: Who the f*ck are they to be asking where and how you get your money or btc anyways? Were all consenting adults. Just let us gamble for christs sakes!

**hello1234567** · 04-16-16, 02:59 PM

Originally posted by NewYorkStress81

Spoke to soon! Coinbase now is limiting to $200 a day and on a 90 day probation lol. In my initial email, I said one of the reasons I use it is to sell it for a profit. I thought that wAs generally the point of bitcoins! They told me it was in violation of their policy, yet they have received thousands of dollars worth of commission on my sells.

Since its been about 6 months since I was banned from circle. I opened up a new account with a different email address. They have no limit withdrawel now, which is much better than before. Hopefully I don't get caught.

Circle let you open up a new account with them after 6 months of being banned? You used the same information but different e-mail?

**NewYorkStress81** · 04-16-16, 03:02 PM

Originally posted by hello1234567

Circle let you open up a new account with them after 6 months of being banned? You used the same information but different e-mail?

That is correct. I'm going to be extremely conservative with them for now. I'll only use them to sell, not buy from.

**hello1234567** · 04-16-16, 03:05 PM

That doesn't make sense in a way that operates. My Circle account is still opened but I have 0 limits buy/sell. Did they completely close your account when you were ban where you didn't have a login anymore?

Circle checks your identity when open an account with them where you submit your Driver's ID. I don't get how they would allow the same user who was banned to open up a new account.