jpoker272727 (OP)
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September 22, 2014, 06:48:57 PM |
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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?
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Nrcewker
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Building my own Dreams!
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September 23, 2014, 04:24:00 AM |
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So far, no such trading on formal exchange, but you can look for someone who would trade with you.
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joesmoe2012
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September 23, 2014, 06:39:49 AM |
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Only problem is that this really opens the person sending the bitcoin up to fraud and such from fake/fraudulant stock certificates.
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SecureExchange
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September 23, 2014, 06:40:53 AM |
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So far, no such trading on formal exchange, but you can look for someone who would trade with you.
This is the only realistic option for now. |
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ProExchange
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September 23, 2014, 06:50:26 AM |
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Certainly there's no formal exchange and I doubt there will be any for this platform.
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incomefx
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September 23, 2014, 06:54:51 AM |
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nothing as per now
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snarlpill
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September 23, 2014, 07:04:06 AM |
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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?
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. |
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jpoker272727 (OP)
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September 23, 2014, 03:07:09 PM |
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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
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jpoker272727 (OP)
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Activity: 1137
Merit: 1000
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September 23, 2014, 03:09:08 PM |
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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?
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 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? |
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snarlpill
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September 23, 2014, 03:37:14 PM |
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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
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