Why you can’t cash out part 1: Bitcoin’s “price” is largely fictional
You can cash out Bitcoin and the price is actually very accurate. The money I see in my bank account is real I can assure you of that. Also I know friends that cash out six figures at a time and the price they get is within less than 1% difference to the last sell price.<p>The number is accurate enough for most orders under $10,000,000. Has this person actually traded Bitcoin?<p>You might not be able to sell a large order to the cent, but with Bitcoin you are certainly able to cash out within less than 1% of the listed price. I move orders around a lot and I see real money, so I know it&#x27;s not fictional. In addition I frequently use an exchange with about 100 times less volume than the USA exchanges.<p>Also shares have a spread too.<p>The Bitcoin order book is not razor thin, unless you are trying to sell $10,000,000 in one go. Then you just need to spread out the sell over about 5 hours.<p>Also the issue with arbitrage isn&#x27;t the Bitcoin side of the transactions, it&#x27;s often the USD or AUD side.<p>But arbitrage does work and the price is much closer worldwide than it used to be.<p>These little islands that the author talks about range from $1,000,000 24 hour volume for the smallest exchanges to $200,000,000 24 hour volume for a mid - high size exchange.<p>TL:DR I can assure you the price is real, cashing out is easy and viable. If you want to cash in $10 million just expect your limit order to execute gradually over about 5 hours.