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Old 01-11-2017
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Play Play is offline
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Default Re: Guide / Tutorial: Buying Bitcoin & Cashing out Bitcoin Anonymously

Some of the statements you've made in this thread seem very incorrect. I speak solely from a UK point of view - if your topic pertains to the US I think you should make it clear.

Quote:
you'll see its very possible to get a UK bank transfer reversed within the first 15 minutes of the transfer
Do you have a credible source to backup this statement? From what I am aware is that banks cannot automatically reverse a transfer because it would allow anyone who had bought something to haul back the payment after receiving their goods.

In some cases a process to reverse funds can be initiated if the sender reports they've accidentally sent it to the wrong account, but even then it's down to the receipient if they wish to refund or resist - the latter would lead to further investigation.

So I dont quite get where your getting this 15 minute window from?

Quote:
Many of them don't release BTC until an hour has passed
Most vendors accepting Bitcoin won't release product/service until 6 confirmations take place. Each confirmation takes roughly 10 minutes. So I think that's what is causing the 1 hour wait.

Out of curiosity what do you do during this one hour? Seems very counter productive. I can't imagine a world where we had to wait around for an hour each time we made a payment somewhere lol

Last edited by Play; 01-11-2017 at 09:09 PM.
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