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/biz/ - Business & Finance

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6186378 No.6186378 [Reply] [Original]

How many people here are able to sell their crypto and withdraw in fiat? Because I bet you can’t. Try it now and see for yourself. Exchanges will go bankrupt if you withdraw so they will not allow you to. All those gains you made were imaginary because you can’t actually cash out.

>inb4 hurr i can easily withdraw $100k in a few hours

Sure you fucking lying kike.

>> No.6186510

>>6186378
We know all that. Cashing out isn't that hard in an objective sense desu. But since the numbers keep rising, it's hard to do it because of fear of missing out. Will most of us stay in this until the whole thing crash and it's too late? Probably. But if I was more rational and wanted to cash out this very second, there would be nothing to stop me. I won't though.

>> No.6186568

>>6186378
This was my rationalization for avoiding crypto the past few years. I set up a BTC wallet in April. 2013 and was too frustrated by the shitty exchanges to buy any.

Then recently I started to FOMO hard. Somehow someway we all believe that one day we can cash out the insane gains.

>> No.6186715

>>6186510
>>6186568

You won’t be able to cash out either way when you want to. Did you even read the ToCs? Exchanges can do whatever the fuck with your money because you legally gave it to them.

>> No.6186748

>>6186568
Some people probably spend more on freemium games than most of us really spend on this. You don't need a big investment to start, and things add up quick.

>> No.6186807
File: 1.97 MB, 400x332, 1482200061657.gif [View same] [iqdb] [saucenao] [google]
6186807

this is what will cause the bubble to pop desu, when it gets to a point where everyone's made so much from crypto, and they go to cash out only to realize the exchanges don't have the money to let everyone cash out that quickly, will cause mass panic selling and use of obscure exchanges and doing whatever it takes to get their money out. nobody here cares about the tech, it's all about getting rich, and that will ultimately be our downfall.

>> No.6186821

>>6186715
If thinking so makes you sleep better at night, so be it.

>> No.6186889

>>6186807
Even the largest banks don't have the money to let everyone cash out quickly.

>> No.6186955

>>6186807
It's literally a fucking nightmare. It's because there is no government regulation like there is with the banking system. The free market of crypo brokerages is run by schemers and really shady people.

>> No.6186958

>>6186715
think about this you low iq moron:

if no exchange exist that will allow you to cash out legally, why wouldn't someone create one and outcompete every fraudulent exchange, monopolize the entire crypto industry and make billions of dollars in the process?

>> No.6187000

>>6186955
Capped.

>> No.6187021

>>6186889
FDIC, among other countless regulatory infrastructures

>> No.6187028

I cashed out $17,000 last week, no issues, no problems, no delays.

>> No.6187043

I've cashed out four times my initial investment already. So I'm guessing this is the usual salty nocoiners thread?

>> No.6187061

>>6186378

>CRYPTOS ARE THE FUTURE!
>THE JEWS DONT HAVE ANY CONTROL OVER THE CRYPTOS!
>Jews own the currency exchanges
>Jews make a huge profit from every exchange you do because they charge a fee
>The Jews won't allow you to cash out your money

Face it /biz/, the Jews are always 10 steps ahead.

>> No.6187068

>>6186955
>It's literally a fucking nightmare. It's because there is no government regulation like there is with the banking system.
get the fuck out you fucking jewish puppet

>> No.6187101

>>6186821

I have $200k of imaginary crypto money spread around multiple exchanges which I can’t even withdraw. Its been pending for 3 months and counting. I’ve come to peace with it because in my mind I only lost my initial investment of $1000 I made years ago which was just compounded using imaginary numbers

>> No.6187147

>>6186807
Idiot exchanges dont hold money, they let people EXHANGE

A crash only happens when everyone stops buying

You can only "cash out" if someone buys your shit

>> No.6187193
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6187193

>>6186378
>hurr i can easily withdraw $100k in a few hours
Where did the bad jew touch you, anon?

>> No.6187206

>>6186955
Yeah, there are some shady things going on, but the exchanges make tons of money from transaction, listing and withdrawal fees, etc. It's really profitable for them. Exit scams are possible, but they have a lot of incentives to keep things going as smooth as possible for the longest period they can.

>> No.6187242

>>6186378
I cash out in 5 minutes using my country´s local exchange

>> No.6187251

>>6186958
you're money is still in the shitty exchanges

>> No.6187270

>>6187193
>100,000 / 100,000 remaining

You havent used any of your cashout limit, is it cause you cant?

>> No.6187299

>>6186955
and banks/governments aren't?

>> No.6187341

>>6187270
Do you cash out stocks weekly?

>> No.6187379

>>6186378
Top kek I cashed out 200k this week locally

>> No.6187387

>>6186378
I withdrew 80k from Gemini to my local bank back before bitcoin broke 11k USD. I fomoed back into Gemini with a 100k wire the same week.

>> No.6187390

>>6187242
>>6187043
>>6187028

>t. lying kike

>> No.6187434

>>6187147
who is really going to be buy when ethereum is at $10k, or bitcoin is at $100k?

at that point more will be selling than buying

>> No.6187445
File: 51 KB, 1440x235, _20180110_021618.jpg [View same] [iqdb] [saucenao] [google]
6187445

>>6187270
>>6187390
The lying kike is you, trying to create fear and mistrust.

>> No.6187468

>>6187387
>>6187379

Sure buddy. And i fucked your mom while you were busy lying on an online image board in your basement.

>> No.6187478

> Coinbase buys your crypto for USD almost instantly
> Coinbase USD account is FDIC insured

What's your worry? Unless you're literally a crypto millionaire, in which case you should be taking profits into fiat as a hedge, you'll be 100% fine if you have coinbase as your exit plan. The US government will pick up the tab if they go under.

>> No.6187540

>>6187341
I heard normies have been doing this for a year or so, since whenever those investing apps with no fees came out to make it easy. They just dump savings into stocks, then sell when they have an expense or bills come up since stocks have only been going up.

>> No.6187542

>>6187445

1/10 photoshop.

Atleast fake some dates into it will ya?

>> No.6187558

>>6187434
Who is buying Bitcoin at 15k? Yes, of course these things only have a value as long as people are wanting to buy them, but the value of 1 ETH or BTC doesn't matter that much since you can still buy $50 of each if you want, and then can make it grow it in the market just the same.

>> No.6187560

>>6187434

100% chance this exact same thing was posted before with one less zero in those numbers

>> No.6187594

>>6187468
dumbass if you have 200k in magic internet meme money here's what were gonna do. I'll give a bitcoin address, you'll send .1 BTC then I'll send you a bank statement with a date stamp showing coinable depositing into my bank account. OK asshole sound fair?

>> No.6187597

>>6187445
Ok, so you cashed out Litecoin and Sepacoin, thats not the exact same thing as cashing out. We're talking about cashing out into FIAT here.

>> No.6187633

>>6187542
There are literally dates on the screenshot. Last (You) for your pathetic attempt at bait.

>>6187597
>sepacoin
Okay that's a good one.

>> No.6187656

>>6187540
Seems risky, but I might look into that, most of my money is just sitting around depreciating anyway.

>> No.6187658

>>6186955
Government regulation would ruin cryptos

Fuck you

>> No.6187675

why the fuck would you want fiat money?

>> No.6187746

>>6187270
>cashing out while the charts are still going straight up
If you wanted to just brag about how much of a failure you were, you could have just said so. We already knew.

>> No.6187777

It sounds like OP is jealous. That is common for people who didn't get a huge ROI in 2017. Had you bought any token in 2017, you'd have at least a 2x ROI.

Now, my overall ROI last year was ~25,000%. I quit my job and became a full time financial analyst in crypto, working as a freelance advisor.

I gave myself a paycheck of $220,000 (tax free). Being Tier 3 verified on Kraken helped a lot, but obviously I didn't withdraw it in one go.

I'd gladly answer any question!

>> No.6187901

>>6187777
> (((tax free)))

How?

>> No.6187916

>>6187777
How do I get such nice 7s?

>> No.6188000

>>6187901

Crypto currency is not considered currency in a lot of countries in the world. Even in the US it depends on what tax attorney you ask, and what your "intents" were when you invested.

>> No.6188068

>>6187746
You're like a drug addict.
>i-i could cashout anytime i wanted.. i just dont want too is all! i know it works cause y-you probably cashed out! y-youre trying to trick me into cashing out is all.. yeah thats it.... im sure cashing out works, lemme buy at the all time high just one more time...

>> No.6188081

Canada here

Quadriga lets you take out 500k a day wire

Did you think they are lying?

>> No.6188134

>>6188068
>sell all coins into eth
>transfer to gemini/gdax whatever you use
>transfer to bank account
>lose half to taxes

>> No.6188181
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6188181

>>6188068
>d-do what I say or else you're a drug addict
Enjoy your nogains, I guess. Not my fault you're too cucked to hodl.

>> No.6188250

he's right. i tried to cash out my 100 BTC and couldn't. said fuck it and flushed my paper wallet.

>> No.6188269

>>6187916

If you're serious about investing, you have 2 options:
1. Spread your portfolio and hold it. Do not daytrade. Est. profit: 100-500%
2. Talk to a financial advisor (like me) and let him control your portfolio for a small fee. Est. profit: 10,000-20,000%

>> No.6188296

People calling for more government regulation are just jewish banker shills trying to screw you

More"""""""""regulation""""""""" means more central banking, more big bank and government collusion.

What needs to happen is for the rule of law to be enforced. Property rights and contract law.

>> No.6188516
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6188516

>Americans struggle to cash out
I've already cashed out all my initial investment you guys are going to be holding until you hit 0.

>> No.6188661
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6188661

>>6188181
Oh well, I tried. Everyones in for a rude awakening if they ever attempt to try to cashout.

>> No.6188896

i cashed out $4000 on gdax nigger scum go play with ants

>> No.6188935

>>6188269
>2. Talk to a financial advisor (like me) and let him control your portfolio for a small fee. Est. profit: 10,000-20,000%
In which reality.

>> No.6189019

>>6188935

See >>6187777

>> No.6189289

>>6188269
Riiiiight

>> No.6190130

>>6189019
Oh, thanks, got confused and thought you meant a regular financial advisor, then I would have said that even 10-20% profit was optimistic. Cryptos are great, but I'm not sure I'd trust any professional investors with it. It takes a lot of fun out of the process, and the whole thing is too volatile and manipulated to always make the right calls anyway, no matter the experience the person has.