Bitcoin thread anyone?

I'm sorry I was going to reply to you sooner, but very busy at work and other things. The reason it's so difficult to buy Bitcoins is because of the irreversible nature of the Bitcoin transfer. All the risks are on the seller side and many people who sold Bitcoins for PayPal transfers or CC payments have been burnt. If you wanted to pay cash in person, the seller can transfer the Bitcoins then you take your money back, and when the cops are called, you say he was supposed to give you the diamond ring, and how's he gonna explain he transferred Bitcoins to some virtual wallet that could be in Russia or New York outside of the local police jurisdiction?

First things first. Decide on how you're going to setup your wallet. Bitcoins is peer-to-peer virtual currency and the way I think of a wallet is it's your bank. Online Wallets or full software client on your PC (~14GB of database that has the history of all Bitcoins/transactions). Inputs.io just got hacked (google it or go to website). Only Bitcoin wallet I trust is blockchain.info. I don't even trust Coinbase wallet or any exchange hosted wallet as they can be seized by govt. Online wallets should only be used for a little bit of Bitcoin amount

The best way to buy Bitcoins (if youre in the US) is through CoinBase but the waiting period is ridiculous. And the paperwork. Plus you lose the anonymous aspect of Bitcoin. If you care about that feature.

The next best thing (or maybe better than coinbase) is localbitcoins dot com It's an escrow service. You initiate the buy, the bitcoins are locked in escrow, you wire transfer the money to Russia or whereever the guy is, then he releases the Bitcoins (to your localbitcoins wallet) which you immediately transfer to your wallet or wallets. look for seller runar and see if he can do the amount you're looking for. if you buy the 3 Bitcoins he has now, he'll usually reload his inventory within a day or two, then buy them up again, and so forth... until you're satisfied. you pay him the money by transferring to his Philippine bank account using western union or remitly dot com

enable 2 factor authorization as much as you can everywhere.

Good luck



Quote from Zr1Trader:

So I talked to a guy willing to sell me $ 5k worth that wanted a 5% premium over mtgox price for his "commission". So I say, ok I'll buy 25 bitcoins when price hits $190. He says. "You don't set the price , The market does." I say "well how am I suppose to know how much cash to bring if we don't pre detmerine the price . Do you take limit orders? It could be up or down 50 bucks by the time we meet? The next day price hit 190 and I tried contacting him. He never replied back obviously not in too much of a hury to sell. So never got them. He was the only size seller in my area and he's sketchy so here I sit with no bitcoins after saying I would buy them at $50 a few months ago and now $200... lmao .They are hard to get for the common dumby like me...

I wanted 25 Tulips . Now I'll just watch the damn thing again

:p
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Thanks for info palawon,

I was trying to use local bitcoin with the seller I was going to meet with. I wanted to do a face to face cash deal at a secure public location since I didn't want to do any wire deal in fear of not knowing all the details and if I was getting scammed.

There aren't many size sellers on local bitcoin that want to do face to face in my area besides the one I contacted. I'm good with sitting it out .

Maybe I'll go buy me $50 dollar $twtr today instead :p
 
You're welcome. That's the good thing about localbitcoins/escrow, the bitcoins are locked so hard to get scammed. If you want to get the experience of owning bitcoins, just buy 1 or even half a coin. don't buy too much at once until you're comfortable with it.

Good luck with that twitter stock! :)
 
I totally underestimated the demand for an underground currency by drug dealers and money launderers. Since I don't need either, I fell for the cover story that this was an alternate 'currency' , which is an absurdity.

Will still end badly imo.
 
Quote from stevegee58:

People late to any game usually feel the same way.
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Not late at all, never intended to play. If anything I was early. I don't dance every dance , do you?

So I take it , if I know a penny stock is a scam , and there are many , and don't buy, watching it run 1000%, and there are many, that makes ME the sucker?

Just asking a pro.

Ps Could be this bc thing is the future and the whole planet will join in this mass hypnosis. Can't stop a mob, now can ya.
 
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