So, once again, there HAS to be ways for users to be able to exchange ICN -> BTC -> USD fiat for users who legitimately got their funds such as myself and all of us ICO/IPO investors. I just find it hard to believe that its impossible for me to convert, say $1,000,000 worth of ICN to my bank account so that I can buy a half a million dollars house in a nice place and live happily ever after, so it would be a great idea to list all possible legal ways for us ICN investors to dispose of our funds so when the right time comes we know what to do and wont feel lost. Sounds like champaign problems to me mate, i have the same thing but i only hodl icn and btc (and a small amount of alts (as a collector of rare coins)) the people in the future will fix it by inventing someting like a whale trading club or someting like that. Im not that worried and dont need that much of money (its just sitting there on kraken) dont forget the world is heating up, the oceans are getting acidic and the old system failt to willing to fix that, the old must die for the new to rise to fix this or what ever peace out. Ow yea tokens i think are easyer to replace than cryptos if etherium fails to scale and bitcoin succeeds than i guess iconomi wil just go bitcoin token?
Well for the moment you can exchange ICN for USD on Kraken and then withdraw it to your bank account. If you are verified for Tier 4, you can get half million $ monthly, so you in 2 months you can get your nice house. Just remember to pay your taxes for this
Yes you are right, deposits originating from Kraken might not be seen as negative as the ones coming from Coinbase, and it is something that might work just fine, except that Kraken is not available to me because I am a New Yorker and Kraken closed my account years ago after Bitlicense and I was level 4 verified, now I can login to my Kraken account and it shows Level 0 verified with a message saying they doesn't service New York residents and blah blah blah. I know I can fix this by moving to New Jersey or Pennsylvania or any other 49 States away from NY but that sucks! It sucks having to think of abandoning NY just to be able to dispose of my cash, and even a $275,000 profits which is essentially my current ICN worth might not be enough to justify over 7 months of rent paying + utilities and everything else just too big of an overhead that will eat like 30+% of that gain at the end, it's like a huge tax on top of the tax I would have to pay. There has to be a great way for us New Yorkers to dispose of these profits right here without having our bank accounts closed down. Any ideas? Sure if ICN prices goes IP to like $200+ each thn I would be a millionaire and then paying the overhead costs of becoming a New Jersey perma resident wouldn't seem that high afterall and who knows, instead of paying rent I might even buy a house at a nice place in NJ.
Oops that sucks... What about other exchanges? It has to be some way to get that cash out in NYC god damnit!!!
To the best of my knowledge the following exchange is available to me and all New Yorkers:
Bitstamp
Ripple Gateways well some of them I supposed
Of course Coinbase
I think Gemini
Can't think of anything else.
Out of all these, I think but am not too sure that Bitstamp supports bank transfers withdrawals, don't know if that option is available to New Yorkers but all I know is I can trade there and they have a BitLicense. Now, Bitstamp is located offshore and if the bill passes in Congress then further restrictions might take place.
So at the moment I can only think of
Bitstamp anCoinbase as the only two exchanges that services New Yorkers and that allows bank withdrawals.
