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It’s not equivalent to 393k though, is it? It’s worth absolutely nothing unless it can be converted into actual money, which is appears will be quite difficult

It’s not equivalent to 393k though, is it? It’s worth absolutely nothing unless it can be converted into actual money, which is appears will be quite difficult to do. Now you just have “I have a lot of worthless ether” bragging rights and pretty much nothing else you didn’t have before except maybe legal woes. Sums up my feelings about crypto pretty much completely.

weberer 4y ago
>which is appears will be quite difficult to do Its very easy to at least exchange a few thousand dollars back and forth on Coinbase. I don't know if there's extra hurdles moving almost 400k.
zeroclip 4y ago
Depends on your jurisdiction. In some parts of the west you can easily exchange 400k to fiat in less than an hour. But in some countries, this might not be so easy. If you reside in Russia, China, or Canada, you might have a hard time. It may also prove difficult actually using the money once it arrives in your bank. Traditional banks are hesitant with sudden windfalls, and you might have your account suddenly frozen for a month or two with no recourse. There is also the option to just hold the ETH or a stablecoin token.
- from 4y ago
  > you reside in Russia, China, or Canada, you might have a hard time Interestingly, the opposite is true. The countries with the most restrictions (officially China, Russia, Argentina, Nigeria etc) have the most crypto activity, it’s just all “underground.“
  - zeroclip 4y ago
    I don’t doubt it but I think the commenter was referring to a legal means of exchanging the funds to fiat.
exolymph 4y ago
> It’s worth absolutely nothing unless it can be converted into actual money, which is appears will be quite difficult to do. No it isn't. As someone else said upthread, you can pay people directly in ETH. The potential labor pool will be smaller than if you're paying USD, but it still exists.

weberer 4y ago

>which is appears will be quite difficult to do Its very easy to at least exchange a few thousand dollars back and forth on Coinbase. I don't know if there's extra hurdles moving almost 400k.

zeroclip 4y ago

Depends on your jurisdiction. In some parts of the west you can easily exchange 400k to fiat in less than an hour. But in some countries, this might not be so easy. If you reside in Russia, China, or Canada, you might have a hard time. It may also prove difficult actually using the money once it arrives in your bank. Traditional banks are hesitant with sudden windfalls, and you might have your account suddenly frozen for a month or two with no recourse. There is also the option to just hold the ETH or a stablecoin token.

from 4y ago
> you reside in Russia, China, or Canada, you might have a hard time Interestingly, the opposite is true. The countries with the most restrictions (officially China, Russia, Argentina, Nigeria etc) have the most crypto activity, it’s just all “underground.“
- zeroclip 4y ago
  I don’t doubt it but I think the commenter was referring to a legal means of exchanging the funds to fiat.

exolymph 4y ago

> It’s worth absolutely nothing unless it can be converted into actual money, which is appears will be quite difficult to do. No it isn't. As someone else said upthread, you can pay people directly in ETH. The potential labor pool will be smaller than if you're paying USD, but it still exists.