congrats on sell

Absolutely right.

If someone is having trouble cashing out, then it must be an issue with their exchange or the wallet they're using. There is nothing about crypto in and of itself that makes it difficult to cash out.

Nice catch. Man with experience :thumbsup:1orglaugh

Awesome, I have a target amount also that is approaching soon for my cash out. Too bad you won't be around to put Gary and DV in their place.

HA jokes on you, its going to reach 50k soon.,

anyways best wishes.

i think that she is already getting the divorce papers

No problems here either. You can always use more than one exchange, split it up a bit.

Hope I don't end up regretting asking these questions on this forum. here it goes:

How easy is it to cash out bitcoin and in what amount? Read an article recently that the Winklevoss's are now 'bitcoin billionaires'... okay, so let's say they want to cash out 100mn to USD , is that easily done like gold? Would the funds be wired into their bank account in USD? How many bitcoin exchanges are there and how can they be trusted?


Lastly, what are the pros and cons of bitcoin vs litecoin?

Selling large amounts (especially on a smaller exchange) is going to result in a lot of slippage, where you have to fill several orders to cover your volume, each one at a lower value. Just because the current price is $15000 doesn't mean you can sell 10000 BTC and net $150m. You might sell 50 at $15000, another 30 at $14990, another 70 at $14780 etc.

If you're not in a hurry, just sell a bit periodically, which will also help smooth over variations in value. This will help even if you're selling off relatively small amounts. If you are in a hurry, try setting a sell price around the buy price (ie you are closing the gap between the buy and sell price) which should execute reasonably promptly.

If you're a baller you may also run into problems with exchange imposed limits. The exchange I use limits fiat withdrawals to $AUD 100,000 per day (about $USD 75k). You can usually raise these limits by providing more detailed verification documents, but it may take some time for them to process your request.

Not sure if the OP ran into this sort of limit, or we're being trolled. :)

I ran in to those problems, and the only way to solve it (for me as a private person) was through You are being redirected... with the help of a friend. The first few days, I was faced with 6-8 different "no" when I tried to sell through the larger brokers.

A lot of private people will run in to those problems in the future

Regarding cashing out to soon... well, that is your point of view :)

What is "enough" for you? I dident need more to start my new future - so why wait a few years freezing my ass off in denmark? Why risk it crashing? no fucking way. And I'll tell you, as soon as we agreed on selling, It was a huge rush - cant descripe it - maybe the feeling right before you penetrate a pussy for the first time. There was no turning back.


P.S. My farm estate is for sale in Nordsjælland(denmark). Anyone looking for a place ready for horses and 4x4 offroad, contact Danbolig.dk Asking price $780.000 (valued over 800.000) + you get my Landcruiser and Mercedes for free

:1orglaugh:1orglaugh:1orglaugh:1orglaugh


https://img-9gag-fun.9cache.com/photo/aQeLNjK_460s.jpg

Jolly Dollop! Enjoy and well done :)

Sounds like you did not need resources to move to Italy.

18.000 now

Someone please bump this thread when BTC is $150,000 :smokin

Regrets are useless ...

Be my guest - I have enough $ to last me the next 15 years, where my retirement funds are released.

40% of that is the banks :)

Nice one, thanks.

Congrats. :pimp

This. I've seen it time and time again in the affiliate industry: make big money, think everything is taken care of, regret it a few years later when the individual has to get a job.

Same thing with lottery winners.

If OP has a plan on how to invest the money, he's OK. if he has no plans, then he's in trouble because he's just gonna spend the money (and befriend a few salesmen/false friends along the way).

So, yeah, good luck OP.

$19.100 now...

WOW! Let's think about this. Ferus cashed out on December 14th.

If he owned just 1 coin, it means that had he waited just 4 more days, he would have made an extra $4100. That's $1000 per day, or $125 per hour assuming an 8-hour work day.

Ferus said he was going to buy a Mercedes g350 which costs between $100k and $250k depending on options (Ugly car!). Assuming he was going to buy the basic model of his car with only bitcoin, this means he was holding about 6.66 BTC. Had he kept it until today, he would have earned an extra $26,000 total, or $31,500 per day, or $3437 per hour (8 hour work day).

This.is.fucking.amazing.

Buy stuff on overstock and sell it its the best way. Used to be a secret but its been blasted all over the news past couple of days.

if you cashed out way up? how could you ever regret anything? Doesn't matter how high it goes when you decide to sell is your decision and it sounds like you did exactly that.

congrats.

I would sell out if it was enough to buy enough real estate to have a comfortable life on passive income. Enough is enough.

I calculated how i would need 600000$ for some sort of retirement, where it would be enough to cover my minimum life expenses for next 50 years.

My guess is he had around 500 bit coin, probably cost him an extra 2 million at this point. However, you can play the "what if" game all day, every day. He hit his target and got out and has enough to do exactly what he wants. The day there is a massive price drop or even crash, everyone will say to those holding a bunch, "see I told you, you should have sold out long ago. "

I playing game "howmuch millions so far i lost by not investing into BTC/altcoins" every day :1orglaugh
But i still have same problems which prevented me before to invest serious money -
1. Security of online wallets - owner of online wallet could run away or it could be hacked
2. Security of offline wallets - if you put your key on usb stick and you lost that stick or it get stolen, you lost your entire money. Or if you forget key.
3. Complicated method to get alt coins - if you want to get them by cc/paypal , you need to submit ID and other stuff as well. if you want to invest into other crypto beside bitcoin , you need to first get bitcoin and then trade it to other crypto
4.The whatif question - by tommorow BTC could double, but also could defunct completely. No way to determine that.
Tho, i am working to resolve this problems so i can finaly become a "crypto-millionare" :1orglaugh

Haven't you saved a couple of bitcoins just in case??

- didn't wait a few days to sell at x2 the price
- why do you regret it?

Does it hurt to be this stupid?

Well said. Nobody can predict future (if they would b certain about it they would mortgage their house, sell their cars and put everything in. If you do so, only then you can come here and be all though "I knew"). So pointless to say - you should have waited or whatever.

Ps: how did you come up with 500 btc number?

It's better to sell at 15000 now with the money in hands, than hoping to sell maybe one day at 100.000...
In the past some guys have buy tulip for the price of a house.. until the day it was worth nothing.

congratz and well done ! ;-)

Just a guess based on his current house/cars/money required to move to Italy and start a new business. It was probably somewhere between 200-800 bitcoin.

He could have moved with what he had on that house (even 60% of that) with 0 btc on top.
You can buy whatever size house, you can start whatever investment requiring business.
It says absolutely nothing.

I'm sure he could have moved, but he's not packing up and "getting out" for a lateral move and a small business startup. He already does well, so his excitement suggests its easily more than a million. There's other factors such as the difficulty in cashing out, which suggests at least a certain amount was in play.

Yes, you could live from that. especially when you live in countries like Thailand.
I know people who did that without working. They got mortgages for that amount and rented it out on the first day. And now it is paid of. And the nice part, you hardly pay any taxes, no income tax.

Congrats & enjoy Italy!

I just bought some at $13.6k.

Is ferus still an idiot or are you guys wishing you cashed out at $19.8k? ;)

Congrats Ferus for making a wise decision.

Bulls make money. Bears make money. Pigs get slaughtered.

The fools who are HODL bought a round trip ticket. They rode it up and will ride it back down. As the price plummets, it will accelerate due to the illiquidity and panic selling.