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absent
VeteranXV
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21 - 06-05-2017, 14:14
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Which bank will cash out your bitcoin for 22 million of real cash?
 
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DMAUL
VeteranXV
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22 - 06-05-2017, 14:46
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Kraken has an $100k/day, $500k/month limit at highest verification tier.

Not 22mil in a day but plenty good for an overnight millionaire.

bitfinex and gdax have higher limits upon request.
 
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Falhawk
VeteranXV
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23 - 06-05-2017, 14:48
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I guess you'd be able to buy a ****load of drugs
 
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SuperTrap
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24 - 06-05-2017, 14:49
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if only there was some way to exchange bitcoins for cash..
 
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absent
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25 - 06-05-2017, 14:51
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Quote:
Originally Posted by DMAUL View Post
Kraken has an $100k/day, $500k/month limit at highest verification tier.

Not 22mil in a day but plenty good for an overnight millionaire.

bitfinex and gdax have higher limits upon request.
I understand you can buy random bricabrac with your fake nerd currency, but which bank will cash out 22 million dollars worth of bitcoin? Name one, please.

How about a house? Can you buy a house with bitcoin? A car? Anything worth more than a few thousand bucks?
 
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SuperTrap
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26 - 06-05-2017, 14:52
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****. absent said it was impossible. case closed
 
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MaD_ReBeL
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27 - 06-05-2017, 14:54
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Quote:
Originally Posted by absent View Post
I understand you can buy random bricabrac with your fake nerd currency, but which bank will cash out 22 million dollars worth of bitcoin? Name one, please.
name one bank that will cash out 22 million of any currency. what you're talking about is a minimum 45 day escrow. in theory, that transaction happens in seconds with block chain enabled accounts on either side.

so even your exaggerated example underscores how little you actually understand.

kudos.
 
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DMAUL
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28 - 06-05-2017, 14:54
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Quote:
Originally Posted by absent View Post
I understand you can buy random bricabrac with your fake nerd currency, but which bank will cash out 22 million dollars worth of bitcoin? Name one, please.

How about a house? Can you buy a house with bitcoin? A car? Anything worth more than a few thousand bucks?
I just ****ing told you kraken will let you sell an unlimited # of bitcoins for USD on their website and withdraw 500k USD per month. Is USD not good enough for you?

Would you turn down a heap of gold bars? can't buy a house with ****ing gold bars either.
 
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SuperTrap
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29 - 06-05-2017, 14:56
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you just blew absent's mind
 
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MaD_ReBeL
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30 - 06-05-2017, 14:57
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Quote:
Originally Posted by absent View Post
How about a house? Can you buy a house with bitcoin?
house bought with bitcoin - Google Search
Quote:
A car?
buy car with bitcoin - Google Search
Quote:
Anything worth more than a few thousand bucks?
sadly, a person like you will struggle trying to use BTC to buy yourself a clue. stick to quarters, dimes, and nickels.
 
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SuperTrap
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31 - 06-05-2017, 14:58
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absent trades goats and steroids
 
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absent
VeteranXV
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32 - 06-05-2017, 15:01
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Looks like there's 10 car dealers in the United States that nominally accept Bitcoin. Okay. I'm not going to research if they require you to convert the bitcoin into actual money first, like what you need to do with houses. It does seem likely though. So it seems bitcoin is primarily used to pay for illicit drugs and other items, porn and other cheap miscellanea.
 
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MaD_ReBeL
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33 - 06-05-2017, 15:02
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Originally Posted by DMAUL View Post
can't buy a house with ****ing gold bars either.
oh you most certainly can. it wouldn't be a standard sale but if you put up the 'money' for a house in gold bars a bank would totally work with you. however, they will NOT count precious metals as collateral for loans, not even if you allow them to possess the metal throughout the course of the loan ... at least that is what my local credit union told me.

long story short, banks don't want to hold your metal for any length of time or for any reason. however, they would accept it as currency and immediately convert it to USD on the backend persuming you have enough value in gold to cover the deed on the house or the down payment.

may not be the same for bank of america but if you do business with BofA, Chase, etc you're a fool anyway.
 
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MaD_ReBeL
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34 - 06-05-2017, 15:07
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Quote:
Originally Posted by absent View Post
So it seems bitcoin is primarily used to pay for illicit drugs and other items, porn and other cheap miscellanea.
so you pay your whores in BTC and pay for your drugs with BTC?

can you link me to 10 different publicly accessible sites that sell drugs for BTC? What about call girls? Can you get me a BTC link for a call girl?

cause we're at 42 BILLION dollar market cap for BTC with a 24H volume of 1.226 billion.

that is a **** LOAD of hookers and blow every 24 hours. hmm, almost as though your suggestion just isn't accurate.

shocker.
 
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Odio
VeteranX
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35 - 06-05-2017, 15:07
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Quote:
Originally Posted by absent View Post
You wouldn't have 22 mill, because you wouldn't be able to cash the Bitcoin out anywhere.
 
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absent
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36 - 06-05-2017, 15:12
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I don't know why you're so mad. I only called your fake nerd currency not really usable for any actual purchases of value. We all know it's primarily used by rich Chinese to hide their capital from the Chinese government.
 
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Code4
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37 - 06-05-2017, 15:21
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wrong thread. have we gotten to absent is a tard?
 
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Last edited by Code4; 06-05-2017 at 16:40..
DMAUL
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38 - 06-05-2017, 15:23
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so it's a good store of value? sounds like a legitimate currency to me
 
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MaD_ReBeL
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39 - 06-05-2017, 15:24
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we don't all know that. what we know is when the PBoC published their smear campaign that BTC initially declined. Within 48 hours Japan had then picked up the bulk of China's activity.

from here, india got on board.

clearly china is still driving some of the BTC market, but they aren't the sole driver either.

this 'nerd currency' has largely been propelled by high net worth individuals putting their private cash into the market. wall street still isn't investing in BTC, as an example. the fact wall street has stayed away is one of the main reasons people keep saying BTC will be worth 10K by year end - everyone is expecting the street to get on board soon.

what exactly can be bought with ... rubles? not much in the US, but i can buy rubles and use them to store value or perhaps I'm planning a trip to russia.

you're looking at BTC as a replacement for USD, which many people think will happen or is already happening, however it misses the point.

BTC = place to store value that cannot be directly accessed via any central government. that fact isn't exclusive to BTC but is the main driver (IMO) for crypto currency in general.

nobody trusts their government to keep their hands off their money. hence, BTC and crypto currency in general are gaining popularity as value stores.

... leading to things like the PBoC publishing smear reports about how dangerous BTC is ... cause central banks ARE scared. government are terrified that someone can jump on a plane, land in some other country, and instantly transfer huge sums of money out of that state's economy.

nerd currency ... lol ... is hating on nerds still cool? i guess watching money pass you by is for cool kids. damn those nerds ... and all their money ...
 
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SuperTrap
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40 - 06-05-2017, 15:25
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I believe absent hates all money. In all forms. It's not fair
 
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