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.The number is accurate enough for most orders under $10,000,000. Has this person actually traded Bitcoin?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's not fictional. In addition I frequently use an exchange with about 100 times less volume than the USA exchanges.Also shares have a spread too.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.Also the issue with arbitrage isn't the Bitcoin side of the transactions, it's often the USD or AUD side.But arbitrage does work and the price is much closer worldwide than it used to be.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.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.