Gyroscopic Investing

Like Dudditz imbuing his friends and rescuers with special powers in that Stephen King book, Marc came along several years ago and blessed a bunch of us with a bit of bitcoin. I want to unload it today. Does anyone have experience with this?

I'd really like to get cash instead of something like Amazon giftcards, b/c I want to at least treat some friends to pizza with it.

Found kraken dot com at reddit via google, but I also found some complaints about it that are as recent as August. Do you use it?

Please help me solve this 100% first world problem, bitcoin people.

I've been happy with Coinbase to sell bitcoin in the past (at prices far lower than those today... ugh).

You'll have to connect a bank account, they won't just mail you an envelope with cash. I'm not sure if the connecting process can be completed in the same day, but perhaps they'd let you sell first and transfer later.

Thanks!
I'm not in a big hurry to receive my cash, as I'll be traveling for Thanksgiving. I'm hoping I can just have something deposited in my bank.

Best place to cash in Bitcoin for USD?

Circle.com used to be the most hassle free, but I believe Coinbase bought them out and they no longer buy. If you have Gemini.com available in your state you may want to give them a try. If you do go with Coinbase, create a corresponding GDAX account and learn how to become a "market maker". You'll save a ton in fees when selling.

Pro tips:

Keep at least half; don't sell everything at once.

Don't tell your wife 1) you have bitcoin, 2) how many bitcoin you have, and 3) what you sold them for. Failed on all thee counts, sold the 32 I'd bought for $20 for $17 apiece, and my wife never fails to remind me.

Keep your Bitcoin off exchanges. Put only what you plan to sell on the exchange to avoid a MtGox moment.

If you do plan to market time your sales, use Bitcoinwisdom to track the price trend of Bitcoin. Set the scale to logarithmic rather than linear and play with the scale. 3-day RSI seems interesting.

Use Bitcoin.tax to keep Uncle Sam happy. With a little luck you're below the 25% tax bracket and you've held longer than a year.

For relentless shilling and occasionally-useful predictions and analysis, see BitcoinMarkets. For example, here's a fun projection based on unsustainable growth trends: Daily Moon Math.

BC has gone totally parabolic. It has moved from 8000 to 8775 in just one week. What was it's value when Marc gave out that gift in Nov. of 2013?

Don wrote:BC has gone totally parabolic. It has moved from 8000 to 8775 in just one week. What was it's value when Marc gave out that gift in Nov. of 2013?

SELL

ochotona wrote:

Don wrote:BC has gone totally parabolic. It has moved from 8000 to 8775 in just one week. What was it's value when Marc gave out that gift in Nov. of 2013?

SELL

Haha. It's not easy to sell. I've tried to.

Cullen Roche wrote a nice piece on bitcoin yesterday, also has lots of other ideas that resonate with HBs. I kind of like the idea of the addition of a dumbass portfolio to the PP/VP mix.

...with such a new technology everyone is essentially a dumbass and the most dangerous dumbasses are often the dumbasses who claim they aren’t actually a dumbass

https://www.pragcap.com/manage-asset-pr ... e-bitcoin/

I suppose it falls under the same category as having a sense of humor about oneself, but with direr consequences.

gizmo_rat wrote:Cullen Roche wrote a nice piece on bitcoin yesterday, also has lots of other ideas that resonate with HBs. I kind of like the idea of the addition of a dumbass portfolio to the PP/VP mix.

...with such a new technology everyone is essentially a dumbass and the most dangerous dumbasses are often the dumbasses who claim they aren’t actually a dumbass

https://www.pragcap.com/manage-asset-pr ... e-bitcoin/

Ha! That's a funny link!

Bitcoin is right up there with the Dutch tulip bulb mania of the mid-1600s.

Mountaineer wrote:Bitcoin is right up there with the Dutch tulip bulb mania of the mid-1600s.

Didn't Marc give you a bitcoin too?

Don wrote:

Mountaineer wrote:Bitcoin is right up there with the Dutch tulip bulb mania of the mid-1600s.

Didn't Marc give you a bitcoin too?

I'm no fortunate son, but I did see a bad moon rising down on the corner where it came out of the sky next to Susie Q.

Here's my experience so far:

kraken's verification mechanism is down. But, I think I gave them my social to find out.

cex wants much more now that they have my social and driver's license info. They want a utility bill and a photo of my license, AND a selfie of me holding my license. Jesus. Starting to feel like a dunce here, but I'd really like to unload my coin.

Did you not try coinbase.com yet?

From what I understand they are the easiest.

I also read that Bitflyer https://bitflyer.jp/en-us/?top_link operating in the US now.

Never done any of it myself though. These sites sure remind me of those blatant internet pyramid schemes in the early 2000's

whatchamacallit wrote:Did you not try coinbase.com yet?

From what I understand they are the easiest./quote]

I haven't, only because a trusted friend wrote

coinbase exchange rates are one step away from plain and simple robbery

At this point, I'm not worried about fees or exchange rates. But, I've already given some info to two places now. If one of them doesn't work out, I'm not going to try a third, I think. Glad I never put any money into this, but it may cost me dearly in the end.
Man, I miss buying gold. I just drop a check in the mailbox down the street.

Bitcoin is often used in the same breath as anonymous. So when do I get to the anonymous part?