AMD buying Bitcoins at this point would be foolish.
If AMD was interested in pulling the maneuver you detail, they should buy Litecoins.
well they still make a little but maybe coins will trend up closer to 175 or 190. I still think the best advertisment for amd is buy bitcoins and drive up the price. Thus getting more people to buy the cards like the hd7790.
If I went to MtGox with a 10 million dollars to spend bitcoins would jump up in price.
Todays volume was 49000. So round to 50000.
buy coins in bulk the price goes up.
50000 shares at 200 dollars is 10 million bucks.
just buy shares fast the price will go up and people will buy cards.
Buying coins would be legal for AMD buying coins in bulk would drive the price up.
A lot of card buyers are like myself ; miners. I can hope for AMD to do this.
One needs to understand most of the increased hash power is overpriced asics coming to market from asic miner. Avalon still ships slowly and BFL makes snails look quick.
Asic miner sells hash power at 2x the cost of a hd7790 card. (if you have an empty slot) So cards still get sold.. I now have 9 hd7790's and they have done well. I do feel that coins will spike in price again. If not I did okay since last August. But A nice price spike to 200 would be a good boost for me.
Still fairly new to coin mining and such - so far all I have done is mine some Litecoins. Well now I have about 40 and was wondering how exactly I turn them into cash (USD). Would someone be so kind and let me know what I need to do?
well they still make a little but maybe coins will trend up closer to 175 or 190. I still think the best advertisment for amd is buy bitcoins and drive up the price. Thus getting more people to buy the cards like the hd7790.
If I went to MtGox with a 10 million dollars to spend bitcoins would jump up in price.
Todays volume was 49000. So round to 50000.
buy coins in bulk the price goes up.
50000 shares at 200 dollars is 10 million bucks.
just buy shares fast the price will go up and people will buy cards.
Buying coins would be legal for AMD buying coins in bulk would drive the price up.
A lot of card buyers are like myself ; miners. I can hope for AMD to do this.
One needs to understand most of the increased hash power is overpriced asics coming to market from asic miner. Avalon still ships slowly and BFL makes snails look quick.
Asic miner sells hash power at 2x the cost of a hd7790 card. (if you have an empty slot) So cards still get sold.. I now have 9 hd7790's and they have done well. I do feel that coins will spike in price again. If not I did okay since last August. But A nice price spike to 200 would be a good boost for me.
First, hopefully, you have a wallet. If not, go to litecoin.org, download a wallet and then transfer the coins you mined from wherever you mined them to your wallet. For selling them, you have several choices, but what I would do is go to btc-e.com, make an account, go to finances -> deposit, then copy the address at the bottom of the screen to your wallet and send the litecoins to BTC-E, then trade and sell. That gets you cash. From that point you could open a okpay account and then withdraw it that way, or you could go directly from btc-e.com to Paypal (with a 6% fee) (USD, withdrawl, Paypal) or convert to Bitcoins and then do whatever you want with Bitcoins. I keep find more useful things to buy with Bitcoins, so nowadays I keep small amounts in bitcoins, and move the rest to Paypal.
Thank you very very much!
Another way, and maybe the least risky way but also maybe the slowest way from beginning to end, would be to sell your litecoins for bitcoins, open a MtGox account, transfer your bitcoins to MtGox, and sell them, enter the validation queue (which was weeks last that I checked but they said they were going to speed the process up) by submitting your driver's license and a utility bill, then once you are validated, set up a withdrawal using ABA (if you are US-based and have a US-based checking account) and then use a check from your bank. The ABA code is the routing number on your check (the far left number on the bottom), then put in your check account number (the middle set of numbers in the lower-left of a US check), and then wait for them to validate this. Then transfer your money. The fee is much lower, so if you have a lot of Bitcoin money, then this is likely going to be a lot cheaper. MtGox charges JPY2000 (USD$1.96) to do the transfer.
Easiest way is BTC-E- Litecoins to Bitcoins and then CoinBase to checking account. Coinbase uses MtGox price, so you usually come out ahead in the conversion.
Does coinbase require any identification? The only thing stopping me from using Mt.Gox, Dwolla or OKpay is the inane requirement to provide detailed identification.
Nope. You have to verify a bank account though.
yeah I did this they sent .02 and .14 to my bank I let them know those amounts and it was verified .Nope. You have to verify a bank account though.
They seem to work okay the payments are a bit slow 4 days but fees are low. The exchange rate is close to mtgox.Cool, looks like I'll be using that from now on o.o
Easiest way is BTC-E- Litecoins to Bitcoins and then CoinBase to checking account. Coinbase uses MtGox price, so you usually come out ahead in the conversion.
I have never used BTC-E (or any exchange) but that site seems a bit shaddy. I never got an activation e-mail and some of that site is written in broken English.
I am starting to accrue LTC and I want to do a test run on the exchange to see how difficult it will be to cash them out.
Since Dwolla was shut down on MTGox I've switched over to Campbx. Dwolla works fine there. Exchange rates seem pretty much inline with MTGox. I'm leery of linking a bank account to any of these exchanges. So I like to stick with Dwolla.
CampBX Bitcoin Trading Platform
EFFECTIVE May 1: All new accounts coming in through Dwolla will have a 30-day wait before they can withdraw Bitcoins.
April 30 at 7:18am
Ouch...
With the US now indicting LIberty Reserve on money laundering, it's only going to get harder to find good sites to convert BTC to (spendable) cash.
I have never used BTC-E (or any exchange) but that site seems a bit shaddy. I never got an activation e-mail and some of that site is written in broken English.
With the US now indicting LIberty Reserve on money laundering, it's only going to get harder to find good sites to convert BTC to (spendable) cash.
Either they removed that limitation or I'm not affected because my account is verified. Dunno. I signed up a few weeks ago and have had no trouble withdrawing coins.