Bitcoin Forum

I have about 6 shares of stock with Johnson and Johnson I was looking to sell.  Instead of having a check mailed to me I was wondering is it possible to transfer them in exchange for Bitcoins??  Or does this type of trading not exist?

So far, no such trading on formal exchange, but you can look for someone who would trade with you.

Only problem is that this really opens the person sending the bitcoin up to fraud and such from fake/fraudulant stock certificates.

This is the only realistic option for now.

Certainly there's no formal exchange and I doubt there will be any for this platform.

nothing as per now

I used to play the stock market a little bit and have thought about this as well. I use Scottrade and I'm pretty sure them and other brokerages like them have an option available of sort of "cashing out" your shares from their system, and having a physical declaration of shares held sent to you, as in a fancy paper saying you own X amount of shares in Z company. If you could do this, then you would be able to receive the shares and then trade them for BTC.

I use Computershare, and you are right, It is pretty simple to cash out, they will mail u a check.  Or even easier to transfer ownership to someone.  Its all done legally online.  But I see what you mean about the fraud,  I guess you would have to meet the person face 2 face to kind of make sure the person is who they say they are, etc.?

I dunno, it was just a thought

I have the physical papers, (or shares) in my possession.  But how would I trade them for Bitcoins, I feel like i would need cash, right?

If you wanted to buy Bitcoin on an exchange, then yes, selling your stocks and filling up your exchange account with USD would probably have to be the way to do it for now. As stated previously, I don't think any services exist yet where you could trade stocks directly for BTC online. The stock market and securities are so highly regulated, with all of the KYC AML compliancies & taxes and whatnot, and BTC is almost fully unregulated, that I think this would be a very sticky and complicated process to work on/create. With that being said though- I would guess there are multiple companies working on bringing that to the market already.

However, if you can get the physical shares, and not with your name solely printed on them as the owner, I would think you would be able to do a p2p trade with somebody. You would obv. have to find someone wanting them (JNJ wouldn't be a hard sell though), and trust would have to be established- both yourself and proving that the stocks are legitimate and could be transferred. A third party escrow would probably be the best case in that scenario.

Hope any of this helps,
snarlpill