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A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
I'm a n00b. I have 1.6 BTC that I got a while ago and haven't done much with. It's in Coinbase. At some point soon I want to liquidate it all to cash as quickly as possible to lock in profits. Coinbase only lets you liquidate a small amount at a time. What is the fastest way (non-Coinbase is fine) to go from 1.6 BTC to the equivalent in cash in my bank account?
Sorry if this question has already been asked before, but I'm struggling to find any good way to sell my Bitcoin (I'm located in Europe). I tried selling Bitcoin for PayPal on /Cash4Cash and while it has been successful, I hate dealing with people trying to scam, refunding and being scared that PayPal is going to lock my account soon. Is there any website or some exchange service like Coinbase that works for Europe, where I can link my foreign currency account or debit/credit card and sell bitcoin for cash?
Buying Bitcoin for cash for privacy reasons, should you still consider conjoining / mixing?
Part of the great aspect of buying BTC for cash with random people, you avoid the privacy-eroding AML/KYC requirements of buying on an exchange. Assuming you use a fresh wallet that hasn't had any prior transactions, and you don't spend from the wallet (this avoiding identification links that way), why should you bother conjoining or mixing these coins? The way I see it:- REASONS IN FAVOUR - In case the coins you bought had a bad history (eg, dark web, stolen), this would be masked. So, if these coins ever get sold to an exchange (where chain analysis software is used to check the history of the coins), they would be fungible, and less likely to be confiscated. - It supports the concept that the whole network is stronger and more private if everyone does mix. REASONS NOT IN FAVOUR - It will cost for the service. - Providing you are holding with the intent not to sell to someone who will do chain analysis (an exchange), the history of your coins does not matter. - Perhaps mixed coins might be seen as tinted because they have been mixed. Inadvertently, it could be seen that you were trying to hide something. Have I missed anything?
I want to sell a few thousand USD worth of bitcoin for cash, in person. Am I missing something obvious about LocalBitcoins, or is it much harder to use it for that now?
Back when I first got involved in Bitcoin around 2011, I used LocalBitcoins quite a bit when it was new and traded a lot of my freshly-mined coins with it. I live just outside NYC and I can't possibly find a way to trade bitcoin for USD cash in person on LocalBitcoins anymore, in either NYC or NJ. What I used to do with folks was simple. We'd meet in a public place. They came to me with a phone with a bitcoin wallet and a pocket full of money. I'd bring my phone with a bitcoin wallet full of bitcoins (this was back when they weren't worth much, so I brought quite a few BTC). I'd scan their QR code, they'd hand me the money, I'd quickly count it and check a few bills for counterfeiting, and then I'd send them the bitcoins, make sure they received it, shake their hand, and be on my way. But I can't find any website that can facilitate that, or at least none that have any reputation. (I found one called LocalCoinSwap. There are only nine users on their in the entire United States, only two of them are anywhere near me, and neither of them have any reviews. Also it looks like it wants you to send money to a wallet that the website controls, instead of just helping you meet someone to send directly to them. I'll pass.) Does anyone know where the cool kids are buying/selling bitcoins for cash in person these days?
Bitcoin ATMs are popping up all over the US. They make buying Bitcoin for cash easy, convenient, & safe. Check out our website coinATMmap.com to find the nearest location. You can even get the address texted to you directly from our site.
sounds like someone is exchanging bitcoins for cash in order to turn darkmoney into campaign funding. an incumbent Biden or Trump social media campaign coming? oil corporations preparing to pay for propaganda against climate change?
Beware of this scam if you're selling your bitcoin for cash
I'm writing this post while being overwhelmed by what happened to me but I have to warn everybody selling bitcoin for cash against this scam as it could cost you a lot (it cost me 1 bitcoin). I got contacted by someone wanting to buy bitcoin with cash on localbitcoins, we then sent messages on Telegram to make an appointment. One thing you need to know first is that Telegram recently made a change to allow deleting messages on other people's devices, this is relevant to how the scam works. Cutting to the chase: I went to see the guy in a café, he was there with another guy, he handed me the cash and I counted it, then he sent me his bitcoin address on Telegram, I copied the address in my wallet and sent him the 1 btc as promised. I check the transaction on blockchain, it had 1 confirmation at the time but he showed me his phone and there was nothing in his wallet, I check Telegram to check the address again and I realized he deleted the conversation on my device too! so I had no proof that I sent him the bitcoin to the address HE gave me after giving me the money!! So the bitcoins got sent to his address but his phone had a totally different wallet! This is where he gets aggressive and basically just starts threatening me and all of a sudden they're both attacking me trying to get the cash I just put in my pocket, I yell so people can call the cops and one runs away with some of the money and the other is trying to grab the rest. Cops come and catch the one guy and now they're looking for the second one. I checked the address that I sent the btc to and apparently it also received 5 btc the same day (yesterday), so if you have any idea who this address belongs to or someone who got scammed the same way, get in touch as I'm trying to help cops catch the second guy and hopefully get my bitcoin back. This happened in Paris. Lesson 1 : do not meet more than 1 person for a cash trade, it is risky. Lesson 2 : do not sell a large amount the first time until you trust the person. Lesson 3 : if you do sell a large amount, send a small amount as a test. Hope this prevents other people from getting scammed, be safe everyone!
How easy or difficult is it to exchange bitcoins for cash when you're traveling to other countries?
You rarely need cash in the states, but this isn't the case in a lot of other countries. I've never used a P2P exchange, but that seems like too much of a hassle when you need cash ASAP, probably don't have cell phone service/wifi, and might not speak the language. Bitcoin ATM's seem like the easiest and most logical option. Since the US government is cracking down on crypto regulations, most Bitcoin ATM's require a phone number or ID for verification, but if you're visiting, you won't have have a legit phone number. Will passports be sufficient for ID? Do Bitcoin ATMs in other countries require verification? If you have used your bitcoin for travels, I'd love to hear about your experience :)
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