>miss the bitcoin boom That sucks, but oh well >miss the

>>60862989
poor fag

>>60862989
got to /biz/

But can they actually withdraw their thousands of dollars?

>>60862989
have any of your friends managed to turn ETH into actual dollars? Because it's one thing to have a bunch of virtual currency supposedly worth a bunch of real money due to pure speculation that you can't actually use for anything (inb4 look I can buy drugs with it!), and another thing to actually have money

>>60862989
Those faggots are most likely going to piss away that money just like you would on material goods and it won't be round long anyway. No worries OP.

>>60863220
You better disabuse yourself of the notion that cashing out is hard. Literally sell the eth on Gemini and transfer to your bank account.

It's the taxes that are a real bitch.

>>60863198
in nearly all cases yes, at the cost of ~5% exchange fee

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>>60863198
>>60863220
you faggots act like this is a difficult thing to do.
>https://www.gdax.com/fees/ETH-USD

>>60863265
>>60863243

So instead of answering my question, which was do you personally know anyone who's successfully cashed out large sums of ETH, you redirect to the process of cashing out

Thanks for telling me that no, you don't know anyone who's actually managed to make real money from this

>>60863262
it doesnt matter where the wallet is stored. the wallet are your keys. they can be anywhere you want them. the blockchain keeps track of your coins.

your wallet never actually contains coins, it only contains the certificates that allow you to exhcange coins. The community tracks ownership of the coins themselves.

It doesnt matter where the wallet is stored as long as you have access to it.

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>>60863279
not etherum coin, no.
I use the same service for Litecoin so Im acting like a dick because im pretty sure that it would work just the same if I clicked their ethereum button

>>60863279
I cashed out $700 to see if you can. Yes. It's very easy. Took 3 days to reach my bank account.

>>60863303
are you mining?

>>60863198
Coinbase and withdraw several hundreds at a time to your bank account.

>>60863279
Any usd in your account is yours.

https://gemini24.zendesk.com/hc/en-us/articles/205823016-Are-my-funds-FDIC-insured-

>>60863315
No, investing. In 2 weeks I went from 22k to 40k. This is insane. But I'm aware of how volatile the market is. Anything can happen any time.

>>60863327
ive been mining. I havent had big enough sums to do outright currency investing, but theirs some brand new hardware from china I found thats going to kill the scrypt coin market and I just spent about $5k on my preorder for it.

>>60863349
Never thought mining would be profitable after all the Chinese miners. But I wish you luck, it's an honest living.

>>60863279
>>60863220
>>60863198

its easy as fuck you dumb nigger. yes, i have.

>>60863369
it all depends on what you mine.

Bitcoin, a SHA-hash currency isnt very profitable.

But scrypt based coins like Litecoin are still profitable, and is going to increase in profitability due to new hardware.

It used to be that you mined Bitcoin with ASIC hardware, which was extremely fast and specialized at doing one thing only: SHA hasing.

It used to be that Litecoin had to be mined by GPU's (very expensive to do) because it wasnt known yet how to specialize ASIC hardware for Scrypt-hashing.

ASIC-based miners that can now do Scrypt are just starting to come out. Literally only available for preorder right now.

Anyone who gets something like this is going to make some good money mining Scrypt coins until they get mined up like BTC did.

>>60863500
Cool, will look into it. Thanks!

>>60862989
kek, cuck. Bought bitcoin 4 years ago for 230 and eth just a month ago right before it hit the big rise. feels fucking good have fun being a wage slave.

How do you even buy bitcoins

>>60862989
>making thousands of dollars over night
Till the exchange "loses" all your coins and shuts down

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>>60863723

>>60863735
Exchanges cant lose coins, it doesnt work that way

when you buy and sell coins nobody actually 'receives' a coin in the formal sense. All that happens is two parties authorize a transaction and the blockchain records the transaction. You dont receive a coin, you get a block in the chain. There are no actual coins at all, only blocks in a chain.

If someone is stupid enough to keep giving coins to someone in exchange for money but they are not getting any money with each exchange then they deserve to lose their coins because they obviously cant handle money.

>>60863736
holy shit this is perfect.

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>bitcoin has gone up like 6000% from back in 2008 when you laughed it off as a scam and didn't buy any

H-hah hah, I sure do love my full time job

>>60863865
FUUUUUUUUUUUUUUCK