Cashing out | Bitcointalksearch.org

pheaonix

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Quote from: geekmom on May 07, 2013, 05:19:31 PM

But here is one thing I don't get. If I buy when it's at $100 USD and I have about $3500 USD worth at 100 bitcoin per dollar. Say I give someone a loan for a car for that amount and then the price of bitcoin goes down. Say I've used one of the loan sites on here to manage the loan. Does it change the price on the bitcoin due to match the USD or will one car payment be $200 and the next one $300?

Did that make sense?

Thanks

hey again geekmomma Cheesy

normally when a loan/purchase is pulled, the loan amount is either tied to BTC or USD. (or weird foreign currencies that don't make sense)

this means that if the purchase was tied to dollars and paid in BTC (assuming that they accepted spot price at the time of purchase/loan), if the price of BTC goes up, the buyer of the item loses out on profits of holding onto that BTC. this is also what happened when BFL took their preorders. they have many millions worth of btc from maybe 1-2 USD worth of sales, because btc were cheaper when people bought them with btc.

on the other hand, say on the lending forum, if you take out a BTC loan tied to BTC, and BTC price goes up... you just got yourself some insane interest piling up.

i hope i was able to help.

please let me know how poorly i explained that and i will be happy to fill in the gaps.

geekmom

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But here is one thing I don't get. If I buy when it's at $100 USD and I have about $3500 USD worth at 100 bitcoin per dollar. Say I give someone a loan for a car for that amount and then the price of bitcoin goes down. Say I've used one of the loan sites on here to manage the loan. Does it change the price on the bitcoin due to match the USD or will one car payment be $200 and the next one $300?

Did that make sense?

Thanks

geekmom

newbie

Activity: 31

Merit: 0

Quote from: RodeoX on May 07, 2013, 03:22:34 PM

Might I suggest buying stuff as a way of "cashing out". Remember that with BTC you already have cash, cash you can spend the world over. Sellers are sometimes so eager to get bitcoin that deals can be found.
I know your a blogger. If you use wordpress you can pay up your account in BTC, for example.

I agree with this, but I'm just testing all the different options for a review. I'm trying to talk my hosting company into using bitcoin as my domain provider already does.

eddyfitz

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Quote from: fourkey2001 on May 06, 2013, 10:54:10 PM

BTC to go down to $50... sell sell sell

I guess same post on excange's chat will do more effort....

Surprise

member

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Quote from: fourkey2001 on May 06, 2013, 10:54:10 PM

BTC to go down to $50... sell sell sell

That doesn't sound like baseless price speculation... at all...

lytecoin

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If you are familiar with IRC, you can go to #bitcoin-otc. You can view the order book at http://bitcoin-otc.com/vieworderbook.php

RodeoX

legendary

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The revolution will be monetized!

Might I suggest buying stuff as a way of "cashing out". Remember that with BTC you already have cash, cash you can spend the world over. Sellers are sometimes so eager to get bitcoin that deals can be found.
I know your a blogger. If you use wordpress you can pay up your account in BTC, for example.

eddyfitz

full member

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Merit: 100

Quote from: Snapples on May 06, 2013, 08:42:33 PM

Coinbase or Mt.Gox -> Dwolla

I vote for Dwolla as well

geekmom

newbie

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It worked out well. Thank you, pheaonix, for a great transaction.

anyroll

newbie

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I totally agree with everything said in the thread.

CaptainBobster

newbie

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Quote from: fourkey2001 on May 06, 2013, 10:54:10 PM

BTC to go down to $50... sell sell sell

Do you have a source for this? The price has been oscillating between $90-$130 for weeks.

fourkey2001

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BTC to go down to $50... sell sell sell

pheaonix

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http://casinobitco.in/ A+ customer support

Quote from: geekmom on May 06, 2013, 10:04:49 PM

OK thanks, but I'm not sure who John is?

Quote from: pheaonix on May 06, 2013, 08:45:36 PM

send 1.04 to

1EkKUeLSF8rmfY1485P7Ph1Der8w9Bchc9

and i will send you 100$ moneypak

you either send first or we can use john as escrow

john is a highly trusted member on this forum that does escrows all of the time.

https://bitcointalksearch.org/topic/john-john-ks-escrow-service-previously-known-as-johnthedong-141672

is only needed if you don't trust me ;P

i have done a few transactions on these forums and several hundred on a popular game trading website.

i am not sure if my local walmart is still open for transactions if you needed to do this tonight.

how i would like to do this is as follows

1: you send the btc to me or john (after pming john and letting him know the details)
2: i go down to walmart and pick up 100$ moneypak
3: send you moneypak
(4: if escrow) you tell john i have sent moneypak, and he releases funds to me

whitefeather

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Activity: 97

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Quote from: geekmom on May 06, 2013, 06:22:49 PM

A friend of mine says use btcpak to cash out, but it looks like they aren't open.

Is btcpak out for good? I too have not seen any amounts from their pull-down menu for quite some time. Any insight appreciated.

vcsmith

newbie

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coinabul.com if you want to cash out in bullion.

geekmom

newbie

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OK thanks, but I'm not sure who John is?

Quote from: pheaonix on May 06, 2013, 08:45:36 PM

send 1.04 to

1EkKUeLSF8rmfY1485P7Ph1Der8w9Bchc9

and i will send you 100$ moneypak

you either send first or we can use john as escrow

pheaonix

sr. member

Activity: 392

Merit: 250

http://casinobitco.in/ A+ customer support

send 1.04 to

1EkKUeLSF8rmfY1485P7Ph1Der8w9Bchc9

and i will send you 100$ moneypak

you either send first or we can use john as escrow

Snapples

newbie

Activity: 11

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Coinbase or Mt.Gox -> Dwolla

geekmom

newbie

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Thank you, but it has to be online and moneypak preferred.

xcezzz

member

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localbitcoins.com

Topic: Cashing out (Read 1107 times)