[REAL TALK] Official Bitcoin & Cryptocurrency Discussion Thread

[Adamjr91]

In particular, Bitcoin and Ethereum?

[Zaryu]

Yes, but I've only dealt with bitcoin

[Eff Pandas]

Yep. Been f#cking with it for about 3yrs. Mostly altcoins doe.

Anyone wanna double your money however much you happen to have? Go buy some Ethereum & sell it when it hits $500 (about $229ish right now). Don't forget to send me 5% for the friendly financial advice lol.

[Zaryu]

Yep. Been f#cking with it for about 3yrs. Mostly altcoins doe.

Anyone wanna double your money however much you happen to have? Go buy some Ethereum & sell it when it hits $500 (about $229ish right now). Don't forget to send me 5% for the friendly financial advice lol.

I just realized my bitcoin more than doubled, might have to check ethereum

[Adamjr91]

Yep. Been f#cking with it for about 3yrs. Mostly altcoins doe.

Anyone wanna double your money however much you happen to have? Go buy some Ethereum & sell it when it hits $500 (about $229ish right now). Don't forget to send me 5% for the friendly financial advice lol.

Which exchange do you trade on?

[JimRaynor]

In particular, Bitcoin and Ethereum?

Yeah welcome to 2015.

[Eff Pandas]

Which exchange do you trade on?

All of em. Every exchange doesn't deal in every coin.

[Mike D]

Here's my question.

Let's say one invests in Ethereum. Lots in Ethereum. Let's just use 50K as an example. And down the road, Ethereum triples. Or f**k it, quadruples. So now that person is sitting on 200K worth of it.

How does one go about turning that into cash? I mean it's not as easy as going to a bank and just withdrawing cash I assume.

If that guy wanted to cash out EVERYTHING, and turn it into actual green money as quickly as he can, how would he go about doing the ****?

[Eff Pandas]

How does one go about turning that into cash? I mean it's not as easy as going to a bank and just withdrawing cash I assume.

If that guy wanted to cash out EVERYTHING, and turn it into actual green money as quickly as he can, how would he go about doing the ****?

Depends where you are & how connected you are or aren't with others in the crypto world.

In theory if you know a true believer in crypto who is betting on it taking over fiat money in the future you can just go to that guys house & have him hand you green & you can send him your crypto from your wallet to his wallet.

For most people I'd recommend using localbitcoin where you can trade both ways for various forms of currency & things of value including USD. Its sorta like an ebay of trading USD for BTC.

If you are less trusting of either of those means of exchanging your BTC for green you can just use CoinBase which is trying to become & I guess currently is the more mainstream means of flipping money, although they do take a bigger cut for allowing you to do that. But they do make it a whole lot easier cuz you can get funds flipping into your bank account in a few days.

And there are BTC ATM's in many cities as well these days. Usually they just allow you to purchase BTC's, but more & more are two way ATM's that allow you to withdraw.

And I'm willing to bet there are more ways out there that others might be up on, but I'm not really cashing out via them cuz I know a guy who's a true believer + don't really cash out all that much anyway these days. And its worth noting there will be easier paths in & out of the crypto world in the coming months & years cuz its going nowhere & only going to become more mainstream as people grasp how superior it is to how things currently work.

[Mike D]

Depends where you are & how connected you are or aren't with others in the crypto world.

In theory if you know a true believer in crypto who is betting on it taking over fiat money in the future you can just go to that guys house & have him hand you green & you can send him your crypto from your wallet to his wallet.

For most people I'd recommend using localbitcoin where you can trade both ways for various forms of currency & things of value including USD. Its sorta like an ebay of trading USD for BTC.

If you are less trusting of either of those means of exchanging your BTC for green you can just use CoinBase which is trying to become & I guess currently is the more mainstream means of flipping money, although they do take a bigger cut for allowing you to do that. But they do make it a whole lot easier cuz you can get funds flipping into your bank account in a few days.

And there are BTC ATM's in many cities as well these days. Usually they just allow you to purchase BTC's, but more & more are two way ATM's that allow you to withdraw.

And I'm willing to bet there are more ways out there that others might be up on, but I'm not really cashing out via them cuz I know a guy who's a true believer + don't really cash out all that much anyway these days. And its worth noting there will be easier paths in & out of the crypto world in the coming months & years cuz its going nowhere & only going to become more mainstream as people grasp how superior it is to how things currently work.

Good ****, holmes. Appreciate the info.