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39 members have voted

SOOPOO
SOOPOO
Joined: Aug 8, 2010
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May 22nd, 2017 at 8:00:17 AM permalink
Quote: DRich

"If you bought $100 of bitcoin 7 years ago, you'd be sitting on $72.9 million now

http://www.cnbc.com/2017/05/22/bitcoin-price-hits-fresh-record-high-above-2100.html



Lets say someone gave me 1000 bitcoin now worth around 2 million dollars. How can I get it into my US bank account in American dollars? How much will it cost in fees, spread, etc... to do so?
BTLWI
BTLWI
Joined: Nov 6, 2013
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May 22nd, 2017 at 11:14:04 AM permalink
The 7 year ago thing is silly. There's nobody who wouldn't have sold most of their bits on the ride up. "Oh, my $100 is worth $500,000 now? I'm going to wait and see just how high it can go.". "Oh look, it's worth $18M? Better hold on." said nobody ever.

Only a billionaire or someone that couldn't access their wallet would ride that out.
DRich
DRich
Joined: Jul 6, 2012
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May 22nd, 2017 at 3:02:13 PM permalink
Quote: BTLWI

The 7 year ago thing is silly. There's nobody who wouldn't have sold most of their bits on the ride up. "Oh, my $100 is worth $500,000 now? I'm going to wait and see just how high it can go.". "Oh look, it's worth $18M? Better hold on." said nobody ever.

Only a billionaire or someone that couldn't access their wallet would ride that out.



I bet there are a lot of people that have some bitcoin from that time that have completely forgot about them or never really knew that they had them.

I'm guessing because we have heard of him the pizza guy that got paid 10,000 bitcoin for two pizzas has probably sold all of his holdings.
gamerfreak
gamerfreak
Joined: Dec 28, 2014
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May 22nd, 2017 at 3:26:59 PM permalink
Quote: DRich

I bet there are a lot of people that have some bitcoin from that time that have completely forgot about them or never really knew that they had them.

I'm guessing because we have heard of him the pizza guy that got paid 10,000 bitcoin for two pizzas has probably sold all of his holdings.


Some guy had several hundred BTC on a wallet stored hard drive he threw away.
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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May 22nd, 2017 at 3:33:32 PM permalink
Quote: gamerfreak

Some guy had several hundred BTC on a wallet stored hard drive he threw away.

I thought his GF toss it out. I can't remember exactly what happened, but I'm willing to bet it was really all her fault to begin with.

BC NOW AT 2251.00 US Dollar
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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May 22nd, 2017 at 9:44:38 PM permalink
Quote: BTLWI

The 7 year ago thing is silly. There's nobody who wouldn't have sold most of their bits on the ride up. "Oh, my $100 is worth $500,000 now? I'm going to wait and see just how high it can go.". "Oh look, it's worth $18M? Better hold on." said nobody ever.

Only a billionaire or someone that couldn't access their wallet would ride that out.

And even if someone found out they had that much in bitcoin and then tried to sell them, I think it would crash the BC market. ???
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Tanko
Tanko
Joined: Apr 22, 2013
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AxelWolf
AxelWolf
Joined: Oct 10, 2012
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May 24th, 2017 at 5:43:11 AM permalink
1 Bitcoin equals
2380.01 US Dollar
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Skeptic
Skeptic
Joined: Dec 9, 2015
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May 24th, 2017 at 6:06:58 AM permalink
Quote: SOOPOO

Lets say someone gave me 1000 bitcoin now worth around 2 million dollars. How can I get it into my US bank account in American dollars? How much will it cost in fees, spread, etc... to do so?



It's very telling that two full days have passed and no one can explain that.
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
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May 24th, 2017 at 6:57:50 AM permalink
Quote: Skeptic

It's very telling that two full days have passed and no one can explain that.



I still have never owned any Bitcoin but I believe there are exchanges like this one where you can sell and I assure wire your funds in USD to any bank account you wish.
It's not whether you win or lose; it's whether or not you had a good bet.

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