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Not that hard. Assuming you are storing it in cold storage: 1) Send to GDAX 2) Sell on GDAX 3) Withdraw to Bank
Unfortunately GDAX by default only allows to withdraw $10k per day. It's possible to ask for an increased limit, but reviewing those requests currently seems to take multiple weeks for them.
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I'm very curios: whoever downloaded this comment above, could you please tell us, why do you think it's not true?
I didn’t downvote it, but it’s so obvious as to be unhelpful. Who needs to be reminded that an asset isn’t worth its price until it’s liquidated? It’s self-evident, and yet you have it following every time someone mentions returns on BTC. You have it at least twice here on this thread, in fact.
You'd be surprised at the number of people who would proclaim "I'm rich!" and then the stock market tanks before they sell.
It is obvious, yes, but only if you actually give it a moment of thought. Many people don't.
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>Who needs to be reminded that an asset isn’t worth its price until it’s liquidated? Mom & pop class investors who characteristically are the ones left holding the bag when a bubble pops.
Exactly the type of people who read HN then! Wait...
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There was a story on the top of HN recently about an Asian student who came to live in the US and joined a hedge fund out of uni. He successfully predicted a huge windfall for his fund - but for entirely the wrong reasons. He put a lot of effort and research into his analysis of the market and was sure he understood it well enough to bet big. He failed but luck saved him and made a killing. His boss told him not to t…
Link?
A good look into trader psych is Taleb's "Fooled by Randomness". All of this predates Bitcoin, though I'd argue the open nature of cryptocurrency allows for people with "extraordinarily active imaginations" (let's say) to participate.
There was a story on the top of HN recently about an Asian student who came to live in the US and joined a hedge fund out of uni. He successfully predicted a huge windfall for his fund - but for entirely the wrong reasons. He put a lot of effort and research into his analysis of the market and was sure he understood it well enough to bet big. He failed but luck saved him and made a killing. His boss told him not to t…
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I've sold and transferred over $800k of cryptocurrencies to a US bank over the course of 3 days. I could probably have done it faster if I tried. This was through Gemini.
How much did the price change from the first coin you sold to the last?
A good look into trader psych is Taleb's "Fooled by Randomness". All of this predates Bitcoin, though I'd argue the open nature of cryptocurrency allows for people with "extraordinarily active imaginations" (let's say) to participate.
There was a story on the top of HN recently about an Asian student who came to live in the US and joined a hedge fund out of uni. He successfully predicted a huge windfall for his fund - but for entirely the wrong reasons. He put a lot of effort and research into his analysis of the market and was sure he understood it well enough to bet big. He failed but luck saved him and made a killing. His boss told him not to t…
Earlier quoted context omitted.
Not that hard. Assuming you are storing it in cold storage: 1) Send to GDAX 2) Sell on GDAX 3) Withdraw to Bank
Unfortunately GDAX by default only allows to withdraw $10k per day. It's possible to ask for an increased limit, but reviewing those requests currently seems to take multiple weeks for them.
Bitcoin has gone up 1547% in the last year. Unless you are heavily shorting it, you are making money and it's not necessarily because of talent or great strategy.
If you're also selling it, then yes, you're making money. Otherwise, you are merely holding a speculative investment that you may or may not be able to eventually make money on.