Club Dynasty
Toronto Escorts

Bitcoin billionaires

Smallcock

Active member
Jun 5, 2009
13,703
21
38

skydiver9

Member
May 17, 2004
152
0
16
toronto
I have the same question!

I'm not a finance guy, I work in technology.

It isn't easy to cash your bitcoins yet, from what I understand you have to sell them to other people that want to buy it for cash. At this point you can't transfer them to a bank account.

But - this looks like it is going to change. Many people say its a bubble, a bubble is something over inflated in value, I think the value of bitcoin hasn't been realized yet - As of last week, the US is starting to explore how to regulate bitcoin. That's a really big deal, next week some Chicago financial market company operating a options and futures exchange is going to start offering access to bitcoin. Essentially, its not going away, rather, its becoming more popular.

The anonymity of bitcoin and its use for illegal transactions has cast a dark light on its existence, but perhaps one day it will be used as paypal is now. Then again it could all go down the toilet.

My philosophy is I'm going to take a little bit of money - 25-50$ per week for the rest of this year and 2018 and buy bitcoin to see where it ends up. This money I would spend on eating out, lottery tickets, etc, that way if I lose it all, no worries, minimal risk.

I'm drawn to the increase in its value, I bought $40 worth, it was 2.3 mBTC (a denominaton of bitcoin) on Monday, my $330 went up to $383 after I bought that $40 worth, right now its at $413!!!!

------ updated info below ----

I did a quick check there are a few cash out options:

http://thebitcoinmachine.com/sell-bitcoin/
https://localcoinatm.com/sell-bitcoin/
 

theanswer08

Member
Aug 9, 2013
196
1
18
I wouldn't say easily, for that volume of money. Most platforms have a limit to how much you can withdraw at any given time - for example, Binance is 2BT each day. I got into the game and found it very fruitful. Bitcoin is amazing, but there are many others that you should keep your eye on - like Ethereum, OMG, IOATA, etc. If you can find the next Bitcoin (which I think is ETH), you may just be a millionaire/billionaire in the making. Goodluck!
 

Smallcock

Active member
Jun 5, 2009
13,703
21
38
Look at it this way. Put $1000 into it. If bitcoin magically disappears as a currency or goes down the toilet indefinitely, you lose $1000. That's peanuts. On the flip side, you can potentially gain tons of money. The choice is simple.

It's volatile so expect ups and downs. When it's up, cash out your initial investment and see where it goes from there. Or cash out the gains and leave the original invested amount. For example, if you invested $100k that's now worth $1 million, cash out $900k and leave $100k invested.
 

wbh32

Member
May 4, 2015
46
0
6
The problem is timing. If this continues, someone will be left holding the bag. If bitcoin is to have long term value it can't continue to inflate the way it is. If you get in and out as SC suggests you'll be fine.
 

YVR_hacker

New member
Aug 9, 2017
17
0
0
I quietly invested a bunch of money in BTC this year and it's now at something like $13000 dollars (with an investment of maybe 4 grand). I recently found an ATM where I can buy and sell LiteCoins too. If I want to get money out, I go to the ATM, request a withdrawal, take my confirmation code & then return in a few hours. You can't auto take out cash from an ATM as BTC goes through 6 "confirmations" the money in the wallet exists. After the first confirmation you can withdraw the money. I just tried this and and removed $100 dollars to see what would happen. If you have a large volume of money you can sell it to a broker who will send you cash.
 

User 123

New member
Jan 21, 2017
318
4
0
Still uproom in it.
It’s going to $100,000.
This is actually quite possible. Maybe not anytime soon but by design Bitcoins are only going to become more scarce. As long as people stay interested in the concept the value should only go up. Which is why all the coins I'm mining, I'm keeping.
 

YVR_hacker

New member
Aug 9, 2017
17
0
0
This is actually quite possible. Maybe not anytime soon but by design Bitcoins are only going to become more scarce. As long as people stay interested in the concept the value should only go up. Which is why all the coins I'm mining, I'm keeping.
One issue with BTC is the hoarders sometimes look the coins. For example, hacker Avunit of Lulzsec controlled the groups finances until they were v&. Only Avunit was never identified nor arrested so the stash may be in their possession or still sitting in that wallet. When Lulzsec was asking for bitcoin they were worth about 6 bucks. Today they're worth $15K each. Bitcoin is not a fiat currency. It has a huge upside. Would I keep a million dollars in it? No, but 20 grand? Sure. I can use it to cover expenses that I wouldn't otherwise.

These guys run decent machines which I use. http://bitcoinkings.net/
 

wonkyknee

Active member
Jan 20, 2006
3,499
18
38
Bitcoin had the advantage over Gold of not being manipulated by governments. Now that it becomes a tradeable commodity on financial exchanges it will have to endure the same fate as gold and be subject to relentless shorting and manipulation. I thought the other advantage of Bitcoin was the lack of fees for processing transaction? But I guess that's only when it remains in the Bitcoin community? Ie: brokers must charge commission to convert back to cash?
 

onceaday

New member
Sep 28, 2015
348
0
0
Simple. If you want a shot in this lifetime of rolling like Jed Clampett you should drop what you are doing, get up to speed on what is happening in the crypto/blockchain space, and invest accordingly. This will be the best advice you ever got on TERB - unless you already have enough money.
 
Mar 13, 2017
52
0
6
Simple. If you want a shot in this lifetime of rolling like Jed Clampett you should drop what you are doing, get up to speed on what is happening in the crypto/blockchain space, and invest accordingly. This will be the best advice you ever got on TERB - unless you already have enough money.
Easier said that done. There are so many new ICO’s and to catch the next Bitcoin will not be easy. Also a lot of scammers out there now.
 

wonkyknee

Active member
Jan 20, 2006
3,499
18
38
Interestingly you all may know that 21 million bitcoins in total. Just over 17 million have been mined. Does everyone know that over 4 million have been lost forever on broken/lost/reformatted computers???? That's 10s of billions of dollars forsaken.
 
Ashley Madison
Toronto Escorts