Remember when a listener wanting to give Dan bitcoin?

K@th
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Remember when a listener wanting to give Dan bitcoin?

Post by K@th »

Dan shoulda done it.


50 Cent: 'I Forgot' Taking 700 Bitcoins For 2014 Album; Stake Is Now Worth Millions
When 50 Cent agreed to accept bitcoin for purchases of his 2014 album, Animal Ambition, a unit of the cryptocurrency was already worth hundreds of dollars — but the value of those sales has since skyrocketed and the rapper's bitcoin holding is now reportedly worth more than $7.5 million.
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Martin Hash
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Re: Remember when a listener wanting to give Dan bitcoin?

Post by Martin Hash »

Does anyone know of anybody who has actually been able to convert their Bitcoin holdings back to dollars?
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TheReal_ND
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Re: Remember when a listener wanting to give Dan bitcoin?

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Yes there are multiple ways depending on how you plan to do taxes or not. Using Coinbase for millions takes a very long time though. Some countries won't allow bank account wires from crypto exchanges.
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TheReal_ND
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Re: Remember when a listener wanting to give Dan bitcoin?

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Germany's tax rate is phenomenal. Something like close to 60% all said and done.
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nmoore63
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Re: Remember when a listener wanting to give Dan bitcoin?

Post by nmoore63 »

Martin Hash wrote:Does anyone know of anybody who has actually been able to convert their Bitcoin holdings back to dollars?
I have.
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C-Mag
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Re: Remember when a listener wanting to give Dan bitcoin?

Post by C-Mag »

I remember asking about what was up with Bitcoin back in the day. Dan said Ben and him looked into it and it was a nothing burger.
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Martin Hash
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Re: Remember when a listener wanting to give Dan bitcoin?

Post by Martin Hash »

nmoore63 wrote:
Martin Hash wrote:Does anyone know of anybody who has actually been able to convert their Bitcoin holdings back to dollars?
I have.
What exchange was that? From what I’ve heard, they only let you dribble it out, pyramid scheme-like.
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nmoore63
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Re: Remember when a listener wanting to give Dan bitcoin?

Post by nmoore63 »

Martin Hash wrote:
nmoore63 wrote:
Martin Hash wrote:Does anyone know of anybody who has actually been able to convert their Bitcoin holdings back to dollars?
I have.
What exchange was that? From what I’ve heard, they only let you dribble it out, pyramid scheme-like.
Coinbase.

All transactions I have ever done were <$999, and any transactions I have done were prior to BitCoin $10,000 so I'm not sure if things have changed.

There was a delay in turning Cash from a Bank into BitCoin (a couple days originally, with an established account it was a few minutes), but BitCoin to cash has always only been a few minutes.
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TheReal_ND
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Re: Remember when a listener wanting to give Dan bitcoin?

Post by TheReal_ND »

Fiat to ETH is instant on Coinbase bow. Transferring it to an exchange takes about 10 minutes for me on average.

The other way around well I haven't cashed any out yet but I heard the limit to bank wires is 10k a week or something. I think if you verify on other exchanges you can do more.
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Fife
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Re: Remember when a listener wanting to give Dan bitcoin?

Post by Fife »

"Liquidity is underrated." -- me

:wink:

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