re: At $9600 per, Bitcoin is expected to hit the $10,000 mark today.

i feel ya

i just sold all my IOTA fwiw, and will look to get back in later for sure.

gotta lock in those gains

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frick that I’d be happy to cash out today!

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If it makes you feel any better, you probably couldn't cash out a bunch of bitcoin at $10,000 per.

The transactions that the exchange rate is based on consist largely of very small transactions. Somebody wants to buy something from a shady website, so they pay $100 to an exchange for 10 mBTC (0.01 BTC) and use that to purchase what they want.

If you had 100 BTC, there's no way you could sell it for the million dollars it's supposedly worth based on the exchange rate. I mean, you could still get good money for it, but basically, the more bitcoin you wanted to "cash in" the worse your effective exchange rate would have to be in order to make the sale.

Gotcha.

This 7-10 business day transaction from my initial purchase seems like its taking 7 to 10 months

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Won't go as high as bitcoin

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well there are 38 billion ripple coins compared to 16 million btc

Thought there were 21 million bitcoin?

circulating supply at the moment

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If you had 100 BTC, there's no way you could sell it for the million dollars it's supposedly worth based on the exchange rate. I mean, you could still get good money for it, but basically, the more bitcoin you wanted to "cash in" the worse your effective exchange rate would have to be in order to make the sale.

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The 24 hour volume for BTC is approximately $7.1B. Assuming $10,000/BTC, that means that about 713,000 bitcoins are bought and sold each day.

If I wanted to sell 100 BTC right now, it would probably take me a couple minutes as I would likely stagger my sell orders to not create a discouraging wall on the order book of the exchange I use.

My dumbass should have invested in this when I wrote a paper on Bitcoin in college.

Holy shite

Lol. I bought $50 worth this morning when it was around 12k.