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Author Topic: Going from BTC to Real USD  (Read 1211 times)
KnuttyD
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April 24, 2011, 11:05:37 PM
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I was wondering what you guys do to convert your generated Bitcoins to real cash? I see there is a service bitcoin2cc (https://www.bitcoin2cc.com/), but I have Liberty Reserve funds right now that I want to convert.
Once you go from btc -> mtgox -> liberty reserve, which exchange service do you personally use to convert that to USD?
I heard ExchangeZone is popular, but it has been down a while for maintenance.
Thanks!

If I helped you in some way, and you feel obligated to do so, you can tip me some coin!
1KVadqbELY3KuJhkm9rDtcwxZknhRsfPHY
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Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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KnuttyD
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April 24, 2011, 11:18:09 PM
 #2

Maybe this was posted in the wrong section?
I havent been able to find any other information on this in other posts.

If I helped you in some way, and you feel obligated to do so, you can tip me some coin!
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April 24, 2011, 11:21:55 PM
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Yeah, this is the real trick.  I'd also like to know how people are making this transaction.  At the end of the day, I need to pay for the power that my miner is consuming and as it turns out my power company doesn't accept BTCs as payment.
gusti
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April 24, 2011, 11:25:21 PM
 #4

I was wondering what you guys do to convert your generated Bitcoins to real cash? I see there is a service bitcoin2cc (https://www.bitcoin2cc.com/), but I have Liberty Reserve funds right now that I want to convert.
Once you go from btc -> mtgox -> liberty reserve, which exchange service do you personally use to convert that to USD?
I heard ExchangeZone is popular, but it has been down a while for maintenance.
Thanks!

I suggest you sell your mtgox USD directly, without passing through LR.

If you don't own the private keys, you don't own the coins.
KnuttyD
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April 24, 2011, 11:26:34 PM
 #5

I was wondering what you guys do to convert your generated Bitcoins to real cash? I see there is a service bitcoin2cc (https://www.bitcoin2cc.com/), but I have Liberty Reserve funds right now that I want to convert.
Once you go from btc -> mtgox -> liberty reserve, which exchange service do you personally use to convert that to USD?
I heard ExchangeZone is popular, but it has been down a while for maintenance.
Thanks!

I suggest you sell your mtgox USD directly, without passing through LR.
There is an 800$ minimum for the direct deposit though, correct?

If I helped you in some way, and you feel obligated to do so, you can tip me some coin!
1KVadqbELY3KuJhkm9rDtcwxZknhRsfPHY
gusti
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April 24, 2011, 11:30:00 PM
 #6

From Mtgox :

"Send Money
Send USD or BTC for free to anyone with an email address.
You can send money to anyone with an email address. If they have a Mt Gox account the funds will show up in their account. If they don't have one then they will be emailed instructions for claiming their money. "

No indication about such USD 800 minimum.

If you don't own the private keys, you don't own the coins.
KnuttyD
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April 24, 2011, 11:35:44 PM
 #7

From Mtgox :

"Send Money
Send USD or BTC for free to anyone with an email address.
You can send money to anyone with an email address. If they have a Mt Gox account the funds will show up in their account. If they don't have one then they will be emailed instructions for claiming their money. "

No indication about such USD 800 minimum.

Thats just sending money. So how would I use that to wire money to a bank account, or have cash sent to me? I need USD that I can put in a bank account, so I can pay my electric bill.

If I helped you in some way, and you feel obligated to do so, you can tip me some coin!
1KVadqbELY3KuJhkm9rDtcwxZknhRsfPHY
gusti
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April 24, 2011, 11:39:08 PM
 #8

From Mtgox :

"Send Money
Send USD or BTC for free to anyone with an email address.
You can send money to anyone with an email address. If they have a Mt Gox account the funds will show up in their account. If they don't have one then they will be emailed instructions for claiming their money. "

No indication about such USD 800 minimum.

Thats just sending money. So how would I use that to wire money to a bank account, or have cash sent to me? I need USD that I can put in a bank account, so I can pay my electric bill.

The buyer of your mtgox USD can send you a bank transfer, Paypal, Western Union.

If you don't own the private keys, you don't own the coins.
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