Quote:
Originally Posted by rostasi
By “selling it”, you mean to cash it in somehow?
I’ve wondered about this. These people that sell
something in Ethereum and it’s translated to dollars
when they announce the sale … how do they get from
Ethereum to dollars? Where does the transaction take place?
Ethereum doesn’t pay the mortgage.
|
That would be the magic of the blockchain!
A large ledger of all transactions updated every 10 mins, to comfirm every miner has the same thing. Cant hide anything on blockchain, thats why if you scroll down on my drawing page you'll see every transaction I had with them.
All exchanges have wallets, for the crypto of choice, so when it's time to change ethereum to dollars or bitcoin to dollars, it's just built into the wallet and is just every platform I've used has been easy to cash out or invest more.