What do you do if you have A LOT of bitcoin?

opentoe

legendary

Activity: 1274

Merit: 1000

Personal text my ass....

Quote from: minerpart on February 16, 2014, 05:31:43 PM

Quote from: opentoe on February 16, 2014, 11:18:42 AM

how are going to exchange all that for real money?

I'd would assume you send it to an exchange, sell it, then send the FIAT to your bank account.

And you would trust an exchange with all your bitcoin? Every exchange I've used, and I used them all, they all have failed at one point. I did eventually get my USD money from them, but some took months to get. And this is with just a little bitcoin. If you have a lot of bitcoin you could be in serious trouble. Being "bitcoin rich" doesn't look so good as it use to me as it did before.

glendall

legendary

Activity: 2100

Merit: 1018

Sugars.zone | DatingFi - Earn for Posting

I'd sue the criminal Jon Montroll for taking my 1 btc deposits and fucking off with it. That'd be really satisfying. I hate to see scammers steal millions and then their be no recourse for them, it is really disheartening.

roslinpl

legendary

Activity: 2212

Merit: 1199

I would build a house !!!

This is my wish

Waiting for so long ... and still don't see my own place and house in near future Sad

You can always donate me Cheesy

I need just about 200BTC Tongue

to be very happy and live in my own

minerpart

sr. member

Activity: 280

Merit: 250

IIIIII====II====IIIIII

Quote from: opentoe on February 16, 2014, 11:18:42 AM

how are going to exchange all that for real money?

I'd would assume you send it to an exchange, sell it, then send the FIAT to your bank account.

ManInIron

newbie

Activity: 28

Merit: 0

http://i57.tinypic.com/2qxn4n5.jpg

opentoe

legendary

Activity: 1274

Merit: 1000

Personal text my ass....

I've wanted to ask this question, but didn't know how to word it. So I'll give it by best shot. If you are planning your retirement or just planning in eventually "cashing in" the large amount of bitcoin you've saved up over the years since I suspect some people have very large amounts and will use that worth later on how are going to exchange all that for real money? Because right now, you still need real money to pay the bills, buy a Whopper at Burger King. While there are some places that purchase goods for you and then you pay them with bitcoin, it is not a real thing in today's world. Right now if I had the option of receiving just as an example $100,000 in USD money or $100,000 worth in bitcoin I would take the money. I even have issues just cashing out $1000 or less with the exchanges we have today and they do just stop operating at any given time. You might be bitcoin rich, but if you can't get it exchanged for the currency of your country, what do you do?

Topic: What do you do if you have A LOT of bitcoin? (Read 632 times)