Topic: Will any long term holders admit to cashing out or wanting to cash out? (Read 2460 times)

yep, made a transfer yesterday and it appeared on my blockchain app almost immediately! now just to find a store that accepts them

BTC transactions are for all practical purposes instant. You can test it yourself by sending between addresses you control. The delay is maybe a couple of seconds at most. Once a transaction has been sent, the network will reject any subsequent attempts to double-spend.  (there are ways for bad people to get around this, but they are more theoretical than practical and would not be economic for small transactions).

The reason why it sometimes takes time to receive your BTC from an exchange is that you are depending upon the exchange to send the BTC to your address instantly. That depends upon their in-house software, efficiency etc.

Confirmations are a different story. They take time by design because they are what prevents people from fraudulently re-writing history (i.e. the blockchain). But for all normal-sized transactions (anything less than four or even five figures), confirmations are not required as the cost of double-spending will exceed the cost of the transaction. As DandT says, it is rather like the corner-shop requiring your DNA before you can use a debit card to spend 2 dollars. The only reason why most sellers require confirmations (let alone 6) is habit/lack of understanding.

There is no advantage whatever to alts with faster confirmations. it is a complete myth.

I've sold many coins along the way, most way too low. I sell enough to live on, and have enough to do so modestly for at least 50 years at current prices. I do ball out occasionally though

No way I'm cashing out. I am only here to take part and support the advent of this amazing piece of technology, and to get away from the great fiat scam out there perpetrated by banks and other elite financial institutions. I will only sell some coins when I am absolutely positive I am able to buy back in cheaper, as I did today and scored a couple extra bitcoins. The price could drop to $10 and I would have all my coins (and scramble as much fiat I can in the meantime to buy more).

its hilarious esp. since op was seller at 5.  his timing is exactly wrong... big LT holders were selling in nov dec.  rpietela started it off.  goat bought some gold near parity and a lambo at 800+.  and others...

I think LT holders who didnt buy back in the  last 2 drops are finishing their purchases now.  with all the positive infra news the coin is only going to appreciate.  Gox is irrelevant and has been ever since you couldnt cash out.

if you want to cash out - this is definitely not the time to even think about it. especially if you paid >$750. but if you like buying high and selling low, be my guest

Credit card are too hard to use.  Bitcoin is the only way to fly !!

I think about cashing out up until the point that it reminds me of how I felt when it hit $50. Then I think of the multiyear log chart.

You don't have to wait an hour.   It is that some merchants require 6 confirmations for trivial amounts. The risk of being double spent on a tx with say 3 confirmations is essentially zero, yet maybe cling to the 6 confirm rule like it was passed down to Satoshi from God on a pair of clay tablets. If they require that for Bitcoin what makes you think it would be any different with another blockchain?

This would be like a store asking to for a DNA sample, retina scan, getting the receipt notarized, and the cashier taking a photo of you while you hold the credit card, your ID, and a note saying I approve this transaction, along with the current day's newspaper just to be safe every time you buy a candybar with a credit card.  Would you then say "credit cards are too hard to use" or would you say "this store is stupid I am going to 7-11"?

Exchanges have to be secure. That means the standard 6 confirmations. Deal with it. Or build your own exchange, there is that option too.

But it is never 10 minutes. It is often around over one hour from exchange to wherever I am wanting to use the Bitcoin. I have lost value making purchases with Bitcoins many times.

If Quark takes only five minutes to make a transaction, and has more layers of security, why should I have to wait 70-80 minutes, and sometimes even longer to get a Bitcoin transaction complete? Only reason why I have to wait is that Bitcoin has a a very large userbase and I am actually able to spend them on stuff, but that could change.

Build my own wallet that requires 0 confirmations. What is that? Is it safe? And why should I have to bother myself with something like this?

I thought about it... And then remembered how much I regretted selling last time. I still feel bad sometimes.

I am up fiat and I have a decent amount of bitcoin, why would I sell? To zero or $50k+!

Build your own wallet that requires 0 confirmations. As it is, businesses already do that for smaller stuff. And really, if you can't wait ten minutes for a $1k or higher order to go through maybe you should consider if something is wrong with you.

I already HATE the fact that I have to wait sometimes up to and over an hour for a Bitcoin transaction to complete. Litecoin on the other hand is much faster, and Quark even quicker still. Bitcoin being the first of its kind, has the advantage of a massive early lead in the market, but perhaps there are crudities in it's design which in the long run will prove untenable.

No dude, no need to cash out. The Bitcoin economy will grow in the coming years where u'll realize that u'll never need to cash out to fiat ever.

all these 'No' replies are just saying they won't admit to it.. 

It wasnt a sell order, it was a buy order (i had not have to wait it more than 90 days if it was a sell...)

or to stop using gox

Its God trying to tell you to stop playing the system, cancel your sell orders, and sit back so he can make you rich in 3 years.

-B-