bitcoin to L$

[jobayear]

Do anyone know how to convert bitcoin to L$

[Parhelion Palou]

1 hour ago, jobayear said:

Do anyone know how to convert bitcoin to L$

Sure -- convert bitcoin to US dollars, use the US dollars to buy Lindens.

[LittleMe Jewell]

2 hours ago, jobayear said:

Do anyone know how to convert bitcoin to L$

Parhelion's response is the ONLY way that is valid per the TOS, because you are ONLY allowed to buy L$ via the LindeX.  Anything else can get your account permanently banned.

[scyntt Boucher]

You could with VirWox before LL changed their policies. Now you'll need to exchange your BTC to USD somewhere then buy L$ on LindeX.

[bigmoe Whitfield]

The IRS clamped down on LL and other places that had 3rd party exchanges. 

 

 

LL has to have real information behind all payments, meaning you need to be a real linked person to be able to buy and sell.  

 

[NejniyKotya]

can I be reseller of LD now?

[Rolig Loon]

56 minutes ago, NejniyKotya said:

can I be reseller of LD now?

In a word, "NO".  Read your TOS, Sect. 3.3:

3.3. Linden Dollars may not be purchased or sold outside of the LindeX exchange.

Any purchase or sale of Linden Dollars through any means other than the LindeX is not permitted and is considered a violation of these Terms of Service which may result in suspension or termination of your Account.

In other words, "NO".

[bigmoe Whitfield]

4 hours ago, NejniyKotya said:

can I be reseller of LD now?

There are no resellers,  Only place you can buy Lindens is on the Lindex.

[LittleMe Jewell]

13 minutes ago, Kris Spade said:

It would be even more awesome if the linden dollar just became it's own cryptocurrency that was available on several exchanges

No it wouldn't - for a variety of reasons, but primarily because of all of the additional regulation that would have to be dealt with in SL.

[bigmoe Whitfield]

IRS clamped down on LL and made LL close the 3rd party exchanges.   so take that up with the irs,   but also if I was LL I would never accept them as a form of payment their rate is to violent for exchange and such,  it does not have a good history.

[bigmoe Whitfield]

On 1/21/2021 at 5:13 PM, Kris Spade said:

PayPal has recently allowed it's users to buy cryptocurrency, which is a step in the right direction, but unfortunately you can only buy them, and sell them there.  Can't send to another wallet or trade as far as I know.  I wish there was a way to get my Tilia USD to Bitcoin without a series of steps (Tilia to PayPal, then PayPal to Bank) that take a long time, while Tilia still being in full compliance with the IRS.

It would be even more awesome if the linden dollar just became it's own cryptocurrency that was available on several exchanges

I think the issue had to do with laundering and 3rd party exchanges, I do not forsee ever bitcoin being accepted again.   forget where that was posted, but some one had an article on what was going on several years ago with this and I remember laundering and bitcoin being talked about.

[oOJoselinOo]

It's a bit odd that it's not allowed.

When Bitcoin Mining came up, i liked the Mining for Linden App.

 

But well. Now you can sell then for USD and then buy L$. Just takes a bit of time.

[Kris Spade]

PayPal has recently allowed it's users to buy cryptocurrency, which is a step in the right direction, but unfortunately you can only buy them, and sell them there.  Can't send to another wallet or trade as far as I know.  I wish there was a way to get my Tilia USD to Bitcoin without a series of steps (Tilia to PayPal, then PayPal to Bank) that take a long time, while Tilia still being in full compliance with the IRS.

It would be even more awesome if the linden dollar just became it's own cryptocurrency that was available on several exchanges

[Kris Spade]

On 5/26/2020 at 8:33 AM, oOJoselinOo said:

It's a bit odd that it's not allowed.

When Bitcoin Mining came up, i liked the Mining for Linden App.

 

But well. Now you can sell then for USD and then buy L$. Just takes a bit of time.

Yeah, that's what I run into.  It goes from Tilia to PayPal which takes time, and then from PayPal to my bank which again takes time.  If I could buy them on PayPal with the ability to send them to my own wallet, I could live with that, it's just the 2 steps that have to happen that seem to take longer than they should.  If it could go from Tilia to a Bitcoin wallet directly with the same regulatory things (how they generate the 10-99s) in place as if it were going to PayPal/Skrill, that would be fantastic.