I bought 5 bit coins 1 week ago, at the value of 3300$

I bought 5 bit coins 1 week ago, at the value of 3300$

1 bit coin is 4200 right now, so I made 4500 dollars in one week, doing nothing but shit posting on pol.

Why aren't you investing in bit coins?

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I don't know how

>coinbase.com
>verify your identify
>connect your bank
>buy bitcoins

takes 10 minutes tops

>Know about this since Btc was 2200usd
>Still too poor to buy even one because argentinian

why live

had 0.00234BTC about 8 moths ago
1 coin is worth 4200 now so in 8 months I made 7$
get on my level n00bs

have you cashed it out yet?

I am

Because I'm a broke loser with no capital/disposable income.

cause its a jewish scam,

get a group of investors/friends and pool your money.

>bitcoin
>qwant
>brave browser

kek shills

Based UN gets it.

>Be me
>Mine bitcoins in 2011
>Store 200 bit coins and enroll in the army
>Be 2017 shit post on Sup Forums
>Read about bitcoin being 4200 right now

840k sitting on my pc with nothing to do

What should I buy first, pol?

Back to your containment board.

Nice be rich, get a tad richer scheme right there...
If you have that much to invest in the first place, there are better more secure way to invest than in some unpredictable cryptocurrency that's already been fueled by luck and magic for years

Dont spend it. Now that you have money you should invest this capital, so it generates more money.

Fuck off with your Jewish scam.

840k, huh? Sounds like you can paypal me a g or two, no problem.

>Now that you have money

NIGGA SO YOU BE SAYIN I BE BROKE BEFORE?

FUCK YOU MEAN HONKIE!

YO HOMIE, CAN I BORROW YOUR FLAG I HAZ NO TOOTHPASTE I BE BROKE SO I NEED IT FOR MUH DICKKKKKKKK!

Yes problem!

1. WHO DA FOOK ARE YOU?!

2. GIEF ME YOUR WOMAN, WHITEBOI!

I has 50 bitcoins. I'm hodling at the moment.

dont forget to put stops and dont be greedy and take some profits

I think there's a high probability that it's a bubble

Meh, I do forex trading instead.

>wake up early for some reason
>check the markets
>click buy
>wait an hour
>make $210

It's not the world's biggest trading account, but I average $700/week from it, and another $300 from my part time job. I'm good.

it's a bubble.

on /biz/, we call this larping.

How easy is it fellow leaf? Do you have to know trends and shit in the market?

>How easy is it fellow leaf? Do you have to know trends and shit in the market?

It's not too complicated IMO, but you do need extensive demo trading before you go live. I'd say a minimum of 2 years. Most traders I've talked to said it was around their 3rd year of trading where they really turned a corner and started being profitable (myself included).

The real bitch for us, is finding a good overseas broker. Canadian forex rules, especially on leverage are fucking retarded beyond all belief. For me to open a 1 lot position on say the GBP/JPY with my current broker (in europe), I would have to put down a $900 deposit. With a Canadian broker, I'd have to put down over $10,000 for that same position.

If you want some good traders to follow, check out forexfactory.com. Search for the forum Spider's Den, and follow everything posted by a user called Tarantula. He's a commercial trader from what I've seen. Also daytradingforexlive.com is solid. Lifetime membership for lie $400, and the guy running answers all emails.

SOMEONE GIVE ME A RUNDOWN QUICKLY!!!
Firstly, once you buy bitcoin, who actually buys it off you in order to make money?
What can you spend it on?
Can you just "cash it in" again?
Fookin sick of wasting away at a shitty desk job when others are rolling in this crypto currency making crazy money pol.

So youre saying you cant just "trade small" with

bump for $$

Doesn't sound very anonymous, isn't that what bitcoins are supposed to be?

You use an exchange to sell it, same sort of thing as stocks.
It can be spent on a lot of random shot but you should think of it as a VALUE STORE. Not currency.
What do you mean by cash it in again?

No, look to Monero for privacy. Decentralization is Bitcoins objective

No

I bought Bitcoin every month with my neetbucks 6 years ago and wasted everything on Satoshi Dice. Sure you will probably make a lot of money if you never sell it, but it's still a fucking stupid investment.

fuck this guy you can trade 0.0000001 of BTC on any of the exchanges just put what you can in and get some sick gainz.

No, you are just a shitty investor, Norway. Since Trumps election the price has gone from 800 to 4300.

Im a complete and utter fookin noob here so bear with me....by cashing it in I meant, like a token or something at an arcade or casino, that if you buy bitcoin could you just "cash it in" when you want and get its monetary value back in Dollars/euros....

who buys it? other people on whatever exchange your using.

spend it on? not a lot currently but you can "cash" it out for whatever your local currency can buy.

cash it in? yes you need an account like coinbase or use local bitcoins which could take longer.

Some places do offer micro accounts, but it would take forever to grind up that account. I aim to make 10% or more per month on my account. I mean, if xm.com was still taking Canadian traders, you could open up an account with a couple of hundred dollars, set it to maximum leverage, click buy or sell, and pray you're on the right side of the trade. To make money more safely with forex though, I'd recommend a minimum of $5k usd to minimize your risk. If you want to do it full time having over $15k usd would be ideal. You can run into like 10 bad trades in a row, despite how good your system is.

It goes like this: It rises slowly over several moths, the media hypes it causing a bubble, it collapses, it declines slowly over several moths until it starts rising again, the media hypes it causing a bubble, it collapses. If you see a lot of news articles about Bitcoin: wait until it crashes and then stabilizes again.

>>/biz/

So when you buy bitcoin the amount that you purchase is added to your wallet. Your wallet is the identifier for your money in the public ledger known as the Block Chain. When on an exchange like Coinbase, they administer the wallets using their own architecture. If you make a local wallet on your computer you can hold your coins off of an exchange.

When you want to exchange your coina for fiat currency you would sell the coins on an exchange. The exchange will credit you fiat for the crypto and you could move the fiat back into your bank account.

Hope this makes sense.

>I bought 5 bit coins 1 week ago, at the value of 3300$
>1 bit coin is 4200 right now, so I made 4500 dollars in one week, doing nothing but shit posting on pol.

Are you retarded? That's not how math works.

Yes you can but that requires another step.

1: Coinbase or other exchange like them that links to a bank account and pays out in local currency

2: Localbitcoins or bitquick you can set it up to take desposits of cash to your local bank and pay people in bitcoins for a (((Fee))) of course.

So you sell 1 BTC for 4XXX but the price is 4YYY so you made money of the Y - X

you do realise you can just buy part of a bitcoin you fucking nigger

>buy antshares at $10
>sell at $15
>day after they go to $45
>miss out on 10 grand

shoot me

You can cash it in unless you find someone dumb enough to give you real money for fake money. That's the underlying scam of bitcoins . I challenge anyone to prove to me that you can convert buttcoins to cash in

>Protip: converting buttcoin to a variety of gift cards and then trying to sell those to people over the course of weeks doesn't qualify as cash conversion

ok guys thanks.

Seems a bit complicated but I might go for it and invest small and see where it goes.

Anywhere I can read to get a general rundown of where to start and all that?

Bitcoin started on Sup Forums did you know that? We used to send each other this worthless currency because it was fun.

Thank you arithmaticanon.

My government taxes the fuck out of it. Also it'll come crashing down soon enough, rather invest in something more stable than risk money in something equivalent in risk to a penny stock.

I dont think he meant taking it elsewhere to sell, I think he was just asking about converting back into fiat.

not him but I think your retarded.

5 x 3300 = 16000

5 x 4500 = 22500

22500 - 16000 = 6500

Danish clowns on Sup Forums offer trading advice
>bubble about to pop, cash out time

*You cant

>t. about to profit in 7-8 days when their coins finally deposit

The price is 4200 not 4500

ok cheers man

muuuuuuuuhuuuuuu then you don't own it muuuuuuuuhuuuuuuuuu fucking jelly wanker

Bullshit, Merval gave great returns the last 5 years, and you could start with as much PESOS as you want. You don't need to be rich to invest.

You just trade it back to cash wherever you bought it.

You can get automatic credit card deposits but limited to 200$ each week IIRC

How many days/weeks before an actual bank account is credited with actual currency (eg USD) and at what point in between your sell and that bank deposit is the currency conversion calculated?

Sure thing potato user. As for a good place to start learning, bitcoin.org/en/how-it-works

> 200, secured.
> Silver and gold, 4oz each.
> One Glock 17.

The contents of my safe.

You can buy fractions of bitcoins

It is essentially a money transfer and will take the same time. The calculation is always done by the exchange you are using at the time you pull the trigger

This entire website is dedicated to exactly what your talking about moron.

local bitcoins.com/


Here is another

bitquick.co/

coinbase took 2 days for $500 most recently

You can find Forex Broker who offers Cryptocurrency CFDs
They also offer leverage, so you don't need as much money, only to cover margin.

>buy five bitcoins at $3300 each
>next week the value goes up to $4200
>a $900 increase per coin
>900 x 5 = 4500

No, you are the fucking retarded one Mohammed.

So if you have $2000 USD of BTC in your wallet right now, you simply login, click "sell", the transaction occurs instantly, and within minutes any bank account of your choosing is deposited $2000 USD?

So here we go guys Im about to dive in. Could I start with 100 euros worth of bit coin or is that just a pathetic amount

If you are customer on one of the exchanges, the bitcoin you sell get's converted into USD immediately. You then get a salary of USD on your exchange account that you can deposit to your regular bank account. The time depends. I live in Europe and it takes me several days for international money transfers.

'>I made 4500 dollars in one week

Every investor has 2 choices to make
- when to buy
- when to sell

Until you sell and lock in your profit you "made" NOTHING

Learn2 invest, newfag.

Can you convert all of your bitcoins into USD with no problems?

checked. Also, he's in the states, so the leverage rates aren't that great for him. Not as bad as in leaf land, but nowhere near as good as the rest of the world.

No, money transfers take around 2 to 5 business days. That is the delay before my bank will see the funds.

I should have been more explicit.

Start with whatever you are comfortable to set aside and watch grow for the long run. Do not expect to see the money again for a few years at least.

You haven't "made" anything. If you sell now you will make a profit. But you will hold on until the price drops and panic sell and lose money cause you're a faggot

To clarify because your special:

Either website you can make a post much like craigslist that you have BTC and want to sell for cash.

Someone who wants BTC contacts your sell listing and the BTC is held in escrow until the buyer goes to the bank you list and deposits cash into your account.

You verify that cash is in your bank and have them send a "no refunds" receipt for your records and you can even call the teller and say "hey did some guy some in and put money in my account? ok he did thanks" then you tell the website to relase the funds.

He didn't put the money in ? just cancel the order and you have your BTC back because he never had them in the first place.

lmao same here nigga just buy DNT for now you dont wanna miss out again right

That isn't ideal but it's not inherently suspicious. Can you immediately buy or sell any amount at any time to "the exchange" or are you required to Wade through buy/sell lists and make and offer and wait for another person to accept?

Lads what are brokers?


Are they like the middle men or something? Got damn this trading shit is complicated.

But I am OP, I have 1.35 BTC, along with 11 LTC and 1.22 BCH.

Thanks exactly like I said expect I read the wrong price per BTC

great I took the wrong price from OP but my point still stands you add the proceeds and subtract the two.

Kek this is a true post. Newbies read this and understand these words.

Sites have limits, Coinbase has a 10k daily buy limit and I believe a 10k weekly sell. The exchange will select an open wait at the price it adverts, charge their fee, and then credit you nearly immediately. Each exchange is different though. With coinbase I have waited 5 daya for my coins after buying, as the top wait.

Ye sure, however pretty much all exchanges will charge fees. Putting lots of money into an exchange can be slightly risky, its advisable you don't hold any assets in exchanges for too long, the early adopters of bitcoin who used Mt Gox learned this the hard way.

exchange is much like stock exchange except 24 hours there is no open or closing bell.

You place buy and sell orders exactly like a stock market

I had 180 bitcoins back in 2011 when they were worth like 3$ each. I spent it all on lsd and mushrooms on the original silk road.

true, but leverage can be your enemy if you don't handle it properly, I think US has 1:50 limit, this isn't bad at all.

the transaction occurs instanlty but your bank like all banks uses ACH transfers which takes 2-3 days all the time every time.

However your account may post the money instantly but be pending until it hits and is actually there for withdraw.

im outside US, my weekly limit on coinbase is only like $300... wtf

Look for a European exchange. Its all about (((international banking laws)))

And I assume that there is a fee to deposit money into your account, make a transaction (buy BTC), then a fee to sell the BTC, then a fee to withdraw the funds into your account?

How much do all these fees add up to during he lifecycle of a transaction?

why does coinbase take a $10 cut per transaction, thats massive. any other sites???

Avoid Coinbase if you're a brit though. You can only deposit money and not withdraw.

use another exchange. Honestly I am stuck with CB because I am in USA no one else can operate with US customers.

If your in EU you can use most any exchange

Same. Bought BTC years ago for like 8$ a pop, probably had 20 of them for $160.
If I had just sat on them I'd have 80k... what the fuck.
Original silk road was cool though.

the fees for trades are very low fractions of cents in USD.

The fees to "cash out" to a bank is usually close to $5 for me

>Are you retarded? That's not how math works
SWEDEN YES!