Bitcoin Discussion

[fragan77]

I'm contemplating whether I should start accepting bitcoin for the things that I sell (e.g. RS3 Gold) as a payment but I'm not familiar with it.

Here are my questions:

1) How hard is it to sell bitcoin to cash?
2) What is the average time you spend in selling them to cash from the exchange rate you like?
3) What is BlockChain?
4) Where do we sell bitcoins?
5) What is the current rate for bitcoin and RS3 Gold and vice versa?

Thank you in advanced.

 

[uJesternWind]

Not totally experienced with bitcoin, but it's quite easy to sell bitcoin to cash. you can see in the sythe market that many trusted users are paying 99% of the market price for cash if you sell them their bitcoin. The real hard part comes when trying to BUY bitcoin with cash (because bitcoin can't be chargebacked at all) but that's a different story.

Whenever I need cash for my bitcoin, I usually just check the frontpage of the cryptocurrency sales and see who's online. Entire process from start to finish is ~10 mins.

Blockchain is a bitcoin "wallet" - a place where you can send and receive bitcoin.

I personally sell bitcoins on sythe cryptocurrency discussion.

And the current rate for bitcoin can be found very easily, just find out the rate for USD--> rs3 gold, and then find out how much btc is worth in usd at the moment. Popular sites for this are coinbase and blockchain.

Hope this helps at least a bit!

 

[Clock]

1) How hard is it to sell bitcoin to cash? Easy, many people on sythe exchange it
2) What is the average time you spend in selling them to cash from the exchange rate you like? 5mins, sold $1200 to chillzer earlier in $300 increments. took about 20mins.
3) What is BlockChain? Blockchain is a simple wallet where you can send/receive/store your bitcoins.
4) Where do we sell bitcoins? I just sell to people here http://www.sythe.org/digital-currency-non-game-sales/ since its very easy and I can trust them.
5) What is the current rate for bitcoin and RS3 Gold and vice versa? 1 Bitcoin is around $245 at the moment so you can work out the gold prices from that.

 

[Apith]

How hard is it to sell bitcoin to cash?

Really simple. There are sites that charge a tiny fee and give you options of payment method. I think you can buy and sell bitcoins using your bank through coinbase. I normally use localbitcoins.com since I live in a country where bitcoin isn't very popular, coinbase for example won't work for me. Localbitcoins is basically selling to people who wants to buy. I sell mine to a guy in the Philippines who deposits my money into my bank account and I get my money in my account the same day.



What is the average time you spend in selling them to cash from the exchange rate you like?

Takes me 15 minutes top. I transfer my bitcoins from my wallet to the localbitcoin wallet. That's normally the longer part, because there are confirmations that you have to wait for before the coins can be used from the wallet you sent it to. Then it takes me a minute filling a form on localbitcoin and the rest is on the buyer.



What is blockchain?

People are calling it a wallet, it's not just a wallet.

A blockchain is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as 'completed' blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order.

Where do we sell bitcoins?

To people on Sythe, though I'd be careful who I take paypal from. Localbitcoin. Coinbase. Circle. A lot of sites helps you buy and sell them.



What is the current rate for bitcoin and RS3 Gold and vice versa?

Bitcoin actually has value. For example as of right now 1 bitcoin is sitting around $247 a coin. If you have 0.1 coin, then you have $24.7 in bitcoin in your wallet. People uses different exchanges for bitcoin but normally it ends up being a couple cents different which isn't worth arguing about.

https://markets.blockchain.info/

The most popular price exchange people use are:

www.preev.com

Googling bitcoin price

Bitstamp (what is listed in your blockchain wallet)

And coinbase

 

[fragan77]

How hard is it to sell bitcoin to cash?


What is the current rate for bitcoin and RS3 Gold and vice versa?

Bitcoin actually has value. For example as of right now 1 bitcoin is sitting around $247 a coin. If you have 0.1 coin, then you have $24.7 in bitcoin in your wallet. People uses different exchanges for bitcoin but normally it ends up being a couple cents different which isn't worth arguing about.

https://markets.blockchain.info/

The most popular price exchange people use are:

www.preev.com

Googling bitcoin price

Bitstamp (what is listed in your blockchain wallet)

And coinbase

Do you have a link to the rates? How did you determine the rates?

 

1) How hard is it to sell bitcoin to cash? Really easy. Personally I use a website called 'Bitonic', but I know www.circle.com works too, not too certain about others.
2) What is the average time you spend in selling them to cash from the exchange rate you like? Probably 5 mins just have to fill it in.
3) What is BlockChain? The best bitcoin wallet there is.
4) Where do we sell bitcoins? Again, I use 'Bitonic' but you can purchase anything with Bitcoins online or exchange them.
5) What is the current rate for bitcoin and RS3 Gold and vice versa? The same rate as real money to RS3.

 

[uJesternWind]

Do you have a link to the rates? How did you determine the rates?

either on http://preev.com/ or you could just type "x usd in btc" or "x btc in usd" in google and it'll give you the rate

 

[fragan77]

either on http://preev.com/ or you could just type "x usd in btc" or "x btc in usd" in google and it'll give you the rate

Can you easily sell the current rate on preev? Or do people buy less?

 

[Plug]

Can you easily sell the current rate on preev? Or do people buy less?

If you're selling your BTC for PayPal or Skrill, you may be able to charge a 5% fee as people are looking to swap and exchange.

So for example you have $100 BTC.
Someone may pay $105 PP for it or sometimes more.

 

[fragan77]

If you're selling your BTC for PayPal or Skrill, you may be able to charge a 5% fee as people are looking to swap and exchange.

So for example you have $100 BTC.
Someone may pay $105 PP for it or sometimes more.

Oh so I guess there's a market for BTC in terms of buying and re-selling. Is it worth it though? Since you're able to charge back in paypal, why would you sell for higher priced? Doesn't that lead to scams?

 

[Plug]

Oh so I guess there's a market for BTC in terms of buying and re-selling. Is it worth it though? Since you're able to charge back in paypal, why would you sell for higher priced? Doesn't that lead to scams?

Pretty much because people would rather have the BTC, and PayPal usually incurs fee's, I'm not really the one to ask as I don't use PayPal and don't plan to.

 

Seems to be stable around 380$, took long enough haha