

Ask HN: Converting bitcoins to real money. Who’s done it? - jackgavigan

Googling something like &#x27;bitcoin withdrawal delay&#x27;, turns up a slew of comments and complaints about delays in withdrawing money from various exchanges.<p>Has anyone successfully converted bitcoins into USD, EUR or another real-world currency and, if so, how much did you withdraw?
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jnbiche
Wow, I'm suprised this is still a question. Yes, I successfully convert BTC to
USD on a regular basis. I don't wish to disclose how much, but it's not pocket
change (and yes, it's subject to taxation).

The delay complaints you see are mostly people who have never done
international wires before and therefore who aren't aware that _because of the
existing banking system_ , wires can take 3-8 days to clear. That delay is not
because of the Bitcoin exchanges, that's because of the banks that deal with
your "real-world currency".

Bitcoin is very liquid if you're not a total idiot. If you wish to convert it
anonymously (I don't), it's a little harder, but still doable (see
localbitcoins). Most exchanges require copies of your passports and other ID
to comply with U.S. regulations (i.e., they don't want to wake up to Seal Team
6 in their bedroom).

All of this is no different than any other currency.

In other words, Bitcoin _is_ real-world currency. Welcome to 2013.

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jackgavigan
Which exchange/site do you use?

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jnbiche
Bitstamp. International wire transfers.

