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If bitcoin hits $250k+ in 2024/2025, does anyone honestly believe exchanges will actually let you sell, or even cash out if you are able to sell?

I have used several and let me tell you they won’t even let you take $5k USD out without dragging you through the mud and stalling the transfer for months IF you provide even MORE identity verification. Imagine for million dollar amounts, gtfo!

I may just hold until I can pay directly for stuff. That’s like maybe another whole ass cycle but I can wait.

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Discussion

bitbuybyte 2y ago

You are thinking in the wrong mindset AND using the wrong exchanges my friend. If you really want to “cash out” though, use cash app

plebeian ewok 2y ago

Why is that the wrong mindset?

bitbuybyte 2y ago

Cashing out. Bitcoin is the money. Ways to send it and exchange value grow every day. Why would you want to sell it in 2024 when it will be that and higher in 2028 and beyond too?

plebeian ewok 2y ago

I would never cash 100% out but sell enough to retire and not worry about rent for the rest of my life, yes.

Everyone is at a different point in life, older people don’t have the luxury of living broke to save for another 20 years.

bitbuybyte 2y ago

Fair enough. “Risk” off (or on 😅) for other hard assets. Land/property.

I am Einherjer, a Nomadic Norse! Never flinch, never surrender! 2y ago

Exchanges???

I plan on roaming around in alleyways here in Asia if I have to, selling or bartering with anything that won’t kill me on the spot…

And of course I would NOT sell it all, not even close!

The Giant Hodler 2y ago

I remember what GameStop and Robinhood Finance did, that created havoc in the financial sector a couple of years back during the pandemic, and ruined the lives of innocent investors, most of whom even borrowed funds or traded their life savings, only to be denied the right to sell when it was time. Pure chaos

stackatoshi 2y ago

p2p exchanges will enable you to sell (RoboSats, Bisq, etc) but doubt you will be able to sell in size. I also plan on just waiting until you can buy goods/services with btc.