Silk Road forums

Discussion => Newbie discussion => Topic started by: madJ on May 05, 2013, 10:54 am

Title: auto cash out?
Post by: madJ on May 05, 2013, 10:54 am
Hey I have a question about cashing out which i havnt seen on the forums.

Is there a way to auto cash out if your the vendor?

Lets say you sell something for 1 BTC, and assuming 1 BTC = $100.

So after the escrow fees are deducted and orders are finalized, the 1 BTC (minus the fees) gets transferred to my vendor's account.

Now I want to cash out into USD immediately.

Is there a way to quickly auto cash out from silk road into something like my BIPS or Mt. Gox wallet as soon as the coins hit my vender account on SR?

I just want to make sure that the USD amount i sell my goods for will be exactly the amount i get in USD cash after the transaction is over just in case there are crazy fluctuations in the coin market.

Anybody got any info on this?

Thanks,
Mad J
Title: Re: auto cash out?
Post by: tree on May 05, 2013, 11:14 am
Yeah there's an auto-withdraw option to the wallet(s) of your choice. I don't know if bitcoin exchanges do automatic trading like that as soon as coins hit their wallet but they may.
Title: Re: auto cash out?
Post by: madJ on May 05, 2013, 11:18 am
werd? anyone know any exchanges that do automatic trading? Also, where do you all buy coins for cheap.
Title: Re: auto cash out?
Post by: madJ on May 05, 2013, 11:23 am
bump
Title: Re: auto cash out?
Post by: madJ on May 05, 2013, 11:40 am
more bump
Title: Re: auto cash out?
Post by: consentingcapitalist on May 05, 2013, 12:27 pm
I am pretty sure most of the large exchanges (mt gox etc) will allow you to set automatic sell orders so that when your funds hit the account they will be sold.