Bitcoin Forum

A friend of mine says use btcpak to cash out, but it looks like they aren't open. Is there another trustworthy place to cashout? I have like 1.04 btc and want to test it.

ETA: I want to cash out with a service that provides MP. No offense, but blindly giving someone who has a 5 day old account on a forum doesn't sound like safe trading.

Thank you!

Dude theres plenty use the internets

localbitcoins.com

Thank you, but it has to be online and moneypak preferred.

Coinbase or Mt.Gox -> Dwolla

send 1.04 to

1EkKUeLSF8rmfY1485P7Ph1Der8w9Bchc9

and i will send you 100$ moneypak

you either send first or we can use john as escrow

OK thanks, but I'm not sure who John is?

coinabul.com if you want to cash out in bullion.

Is btcpak out for good? I too have not seen any amounts from their pull-down menu for quite some time. Any insight appreciated.

john is a highly trusted member on this forum that does escrows all of the time.

https://bitcointalk.org/index.php?topic=141672.0

is only needed if you don't trust me ;P

i have done a few transactions on these forums and several hundred on a popular game trading website.

i am not sure if my local walmart is still open for transactions if you needed to do this tonight.

how i would like to do this is as follows

1: you send the btc to me or john (after pming john and letting him know the details)
2: i go down to walmart and pick up 100$ moneypak
3: send you moneypak
(4: if escrow) you tell john i have sent moneypak, and he releases funds to me

BTC to go down to $50... sell sell sell

Do you have a source for this? The price has been oscillating between $90-$130 for weeks.

I totally agree with everything said in the thread.

It worked out well. Thank you, pheaonix, for a great transaction.

I vote for Dwolla as well

Might I suggest buying stuff as a way of "cashing out". Remember that with BTC you already have cash, cash you can spend the world over. Sellers are sometimes so eager to get bitcoin that deals can be found.
I know your a blogger. If you use wordpress you can pay up your account in BTC, for example.

If you are familiar with IRC, you can go to #bitcoin-otc.  You can view the order book at http://bitcoin-otc.com/vieworderbook.php (http://bitcoin-otc.com/vieworderbook.php)

That doesn't sound like baseless price speculation... at all...

I guess same post on excange's chat will do more effort....

I agree with this, but I'm just testing all the different options for a review. I'm trying to talk my hosting company into using bitcoin as my domain provider already does.

But here is one thing I don't get. If I buy when it's at $100 USD and I have about $3500 USD worth at 100 bitcoin per dollar. Say I give someone a loan for a car for that amount and then the price of bitcoin goes down. Say I've used one of the loan sites on here to manage the loan. Does it change the price on the bitcoin due to match the USD or will one car payment be $200 and the next one $300?

Did that make sense?

Thanks

hey again geekmomma :D

normally when a loan/purchase is pulled, the loan amount is either tied to BTC or USD. (or weird foreign currencies that don't make sense)

this means that if the purchase was tied to dollars and paid in BTC (assuming that they accepted spot price at the time of purchase/loan), if the price of BTC goes up, the buyer of the item loses out on profits of holding onto that BTC. this is also what happened when BFL took their preorders. they have many millions worth of btc from maybe 1-2 USD worth of sales, because btc were cheaper when people bought them with btc.

on the other hand, say on the lending forum, if you take out a BTC loan tied to BTC, and BTC price goes up... you just got yourself some insane interest piling up.

i hope i was able to help.

please let me know how poorly i explained that and i will be happy to fill in the gaps.