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A method to cash in with the volatile market. Make $$$

Discussion in 'CryptoCurrency' started by GrahamCrackers, Oct 31, 2015.

  1. GrahamCrackers

    GrahamCrackers BANNED BANNED

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    As of late. I have been dealing with btc locally. Many people are starting to accept it as a payment method without the true knowledge database behind the currency.
    It's very hard for these people to cash out but you can set your own price and majority of the time, they will accept your price as they are cash strapped.
    I have been trying to liquidate my assets in order to buy the btc because it's not difficult to flip with reasonable up rise.

    Something to contemplate.
     
  2. PrinceVisi

    PrinceVisi Elite Member

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    I am a little bit confused.

    Who are those people that accept BitCoin as a method of payment, but have difficulty cashing it out?
     
  3. GrahamCrackers

    GrahamCrackers BANNED BANNED

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    They accept btc but have difficulty cashing out as they don't understand the algorithm of btc. They are more inclined to deal with someone locally.
     
  4. PrinceVisi

    PrinceVisi Elite Member

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    They don't understand the algorithm of BTC?

    There is no need to understand anything. You just make a quick Google search and you find some reliable sources where you can exchange your BTC with cash and that's it.

    In my opinion, everyone who is willing to accept BTC as payment knows a lot about BTC.
     
  5. starvinmarvin14

    starvinmarvin14 Regular Member

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    So your method is going to individual stores and trying to rip the store owners off? Sounds legit.
     
  6. Cryogenesis

    Cryogenesis Jr. VIP Jr. VIP

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    Doesn't everyone Google everything nowadays?
    Why would someone accept BTC and not know how it works or how to exchange it for hard cash?
     
  7. z33atn

    z33atn Newbie

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    Why would someone accept BTC and not know how it works or how to exchange it for hard cash?
     
  8. LoftPower

    LoftPower Elite Member

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    Sorry but this method does not sound too legit to me. :(
     
  9. Cryogenesis

    Cryogenesis Jr. VIP Jr. VIP

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    Damn son. If you wanna reiterate what I said at least give me some credit.
     
  10. UptonGoodwin

    UptonGoodwin Power Member

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    "Damn son. If you wanna reiterate what I said at least give me some credit." - Drgongs

    Like that?
     
    Last edited: Nov 2, 2015
  11. GrahamCrackers

    GrahamCrackers BANNED BANNED

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    I agree that the MAJORITY of people know about BTC who maintain a working life online, techno savvy, and manage international business trades but then there are quite a few people who are not as well versed as say you maybe. They see the idea behind it but most don't get the fluctuation. I have dealt with several people who run the business but most are okay with just PayPal, or their credit card processor however if someone comes along and says "hey, you accept BTC", well the dialogue will be something like.. "No." Well then you start thinking about it and you want to know more and psychologically you feel flattered that someone is willing to go the distance of wanting to get your product.

    If you ask 20 people in your local area. I have. I am extroverted so I have no problem having conversations with people.

    Conversation goes something like this:

    "So what's your thought's on BTC."
    "BTC"
    "Bitcoin"
    "Is that on the stock market or something."
    --
    I know you are all smart enough to know how this conversation plays out. Some of you are saying that the method isn't legit. It's a legit as those who push penny stocks and then tell people to cash out or they instill fear of pummeling to the ground. I am not saying that but most people who look at the the fluctuation of the coin will say and rightfully so that this is not a stable foundation. You honestly don't know whether it's going to go higher or crash tomorrow.
    You are giving people a way out. Think of those many people who scoffed at the various stocks that are now in the xxx-x,xxx range after being split 6 different ways. This is no different.
    It's statistically proven that no one like uncertainty when it comes to their money. You may think it's not legit because you are not entirely familiar with how the rest of the world reacts. Think of this. Yes, we are sitting in a crypto-currency sub forum, so of course we know what's good and what is not. It took me 45 mins explaining to my OWN wife about BTC and she has friends who accept it because someone saw their crafts online and they thought it would bring them mass business.

    At this point, it's a psychological perspective. I am speaking from that angle.

    GC
     
  12. lukelo12

    lukelo12 BANNED BANNED

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    Thanks for sharing such a useful information but I don't think it would be helpful me as I don't deal bitcoins locally.:( Would it?
     
  13. skyfallsdown

    skyfallsdown Regular Member

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    As long as you accept bitcoin you already thought how you can use them or exchange to $$$ . If you accept bitcoin and don't know what it is then you are dumb.
     
  14. bojan92

    bojan92 Regular Member

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    who are those people accepting bitcoins which they dont understand a thing about? So you want to mean that whatever the price you quote they accept? then you should have more reasons to use more bitcoins and earn some extra cash though not a very good method. thanks anyway