If these guys start cashing out their Bitcoin holdings all at once that will cause the bubble to burst fast.media is always talking the multi millionaires in bitcoin but you never hear about these guys cashing in thier million dollar holdings. If i had 200 million dollars in bitcoin i would cash out for USD quickly.
Any good stories of people cashing in bitcoins to buy a mansion etc?
Man even ethereum and litecoin are looking nice today.
TBH I'm surprised the government has not already gotten their greasy paws on BTC yet. Once they will, it will completely crash and burn. Maybe that's why they don't want to, as they do own BTC as well I imagine. (like seized silk road coins etc)
I wonder if the government will find a way to stop it when they do cash out. I mean once it gets converted to real money it means the real banks get involved, and transactions over 10k tend to raise red flags, let alone millions. I think they are better off cashing out a bit at a time and spending it as BTC as much as they can.
TBH I'm surprised the government has not already gotten their greasy paws on BTC yet. Once they will, it will completely crash and burn. Maybe that's why they don't want to, as they do own BTC as well I imagine. (like seized silk road coins etc)
I really want to look at buying some but can't seem to find a good site. A lot of them want personal information that I'm just not ready to give, like SSN or passport info.
I'm way too late in the game but I figure if I can make myself a couple hundred or maybe even a grand before it crashes, I'll be happy.
I just bought $2,000 worth.. for shizz and giggles.
YOU ARE BUYING
0.1181 BTC
@ $16,681.73 per BTC
Payment Method
Bank of America - BofA
Available
12/20/2017Why?
Deposit To
BTC Wallet
0.11813161 BTC
$1,970.64
Coinbase Fee
$29.36
Total
$2,000.00
Sounds like the people who are spending good money on Bitcoin are going to get screwed big time once the bubble burst open.That is illegal too. Intentionally cashing out so you come in under the $10,000 reporting limit is called structuring and will land you in serious trouble. In addition - I wonder if any if these folks can actually CASH out.... and what currency they'll have to accept to do so. You may have a bunch of 1's and 0's in an account, but when these big trading places are asked to start handing out big amounts of hard cash I expect the shit to hit the fan.
It is if he gotten in early, but how much is he cashing out at a time?Is bit coin mining actually profitable? I have this guy on my steam friend list who at one time just keeps on ranting to me that he was making thousands just from mining bitcoins using several nvidia 1070 cards. He said it was his primary income. I found that hard to believe.
I wonder if the government will find a way to stop it when they do cash out. I mean once it gets converted to real money it means the real banks get involved, and transactions over 10k tend to raise red flags, let alone millions. I think they are better off cashing out a bit at a time and spending it as BTC as much as they can.
TBH I'm surprised the government has not already gotten their greasy paws on BTC yet. Once they will, it will completely crash and burn. Maybe that's why they don't want to, as they do own BTC as well I imagine. (like seized silk road coins etc)
I really want to look at buying some but can't seem to find a good site. A lot of them want personal information that I'm just not ready to give, like SSN or passport info.
I'm way too late in the game but I figure if I can make myself a couple hundred or maybe even a grand before it crashes, I'll be happy.
You realize you are buying in at the highest point BTC has ever been?
The terms "buying high and selling low" come to mind.
Is bit coin mining actually profitable? I have this guy on my steam friend list who at one time just keeps on ranting to me that he was making thousands just from mining bitcoins using several nvidia 1070 cards. He said it was his primary income. I found that hard to believe.
I put $5k in a few days ago when it was just over $14k each. I own like .35 btc.I just bought $2,000 worth.. for shizz and giggles.
YOU ARE BUYING
0.1181 BTC
@ $16,681.73 per BTC
Payment Method
Bank of America - BofA
Available
12/20/2017Why?
Deposit To
BTC Wallet
0.11813161 BTC
$1,970.64
Coinbase Fee
$29.36
Total
$2,000.00
Is bit coin mining actually profitable? I have this guy on my steam friend list who at one time just keeps on ranting to me that he was making thousands just from mining bitcoins using several nvidia 1070 cards. He said it was his primary income. I found that hard to believe.
Often times, when someone says 'I mine BTC' they actually mean 'I mine altcoins and sell those, either manually or automatically, for BTC/Cash'. There's a lot of difference under the hood, but for all practical purposes, he's got a cryptocoin miner on his computer keeping his room warm and making him money.by the time he could be using "several 1070 cards" i.e.: last year, he would not have been able to mine a single BTC. He's lying.
Is bit coin mining actually profitable? I have this guy on my steam friend list who at one time just keeps on ranting to me that he was making thousands just from mining bitcoins using several nvidia 1070 cards. He said it was his primary income. I found that hard to believe.
The $10,000 CTR limit is for cash, not electronic transactions.
They need your SSN because their banks are imposing know your customer (KYC) requirements for anti money laundering, etc. Funny how a shady thing is actually legitimate, but who knows what they do with your data in the background.
Probably not. It would depend heavily on what your $/kwh is, and whether or not BTC shits itself before you pay off the 1k.I'm very late to the bitcoin craze, is it worth setting up a rig solely for bitcoin mining? I'm willing to pay up to $1,000 and $50/mo for electricity.