Bitcoin nearing $800/BTC

Re:Bitcoin nearing $800/BTC by gcv on Monday November 18, 2013 @07:39PM (#6758399)

Is it actually possible to sell BTC held in a random wallet and withdraw the proceeds as USD? I'm not familiar with the intricacies of the various exchanges, and am wondering if it is truly a convertible currency. (Assume that selling ~500 BTC would not move the market.)

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Re:Bitcoin nearing $800/BTC by ye on Monday November 18, 2013 @07:44PM (#6758418)

Yeah, you just register on an exchange, deposit your BTC, trade them into USD and withdraw USD.

I just did this with BTC-E.com today.

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Re:Bitcoin nearing $800/BTC by Throwadev on Tuesday November 19, 2013 @12:18AM (#6759433)

How long did it take from the time you deposited the BTC to when you got the USD into your bank account?

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Re:Bitcoin nearing $800/BTC by ye on Tuesday November 19, 2013 @08:50AM (#6761111)

Trades at the market price are instant.

Withdrawal to a bank - depends on the method you use (SEPA, wire, etc) and the country you're in. From a few hours to a few days.

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