Topic: Harder to get some bitcoin than I expected (Read 1247 times)

Yea i recently got into bit coins as-well and im having a lot of trouble getting a good profit.

Good point.

Aaah, got it! Thanks!

I am no different then you at all. After all I still have 0 BTC.

Counterfeit pen is used to check if the money is not fake. If you sell BTC in person, you get cash

I live in Mexico and you rarely hear anything related to Bitcoin, there are already a couple sites launching offering to trade bit coins for a fee. I have been reading all the mayor headlines since it launched but it wasn't until recently that i heard some guys at my college talking about this magic currency, that it really caught my attention. Once i read enough and feel confident i will start getting myself some Bitcoins!

Maybe this is just a language problem I'm having, but... what is this and what do you use it for?

another tip that was not recommended: if you are selling BTC, be sure to buy a counterfeit pen.. especially if you are buying lots of BTC. you can buy one at staples or ebay.

i think i will buy one from ebay.. it's only $2.49 and well worth it.

Sounds like great advice there, thanks for that!

I'm sure this is good advice! I'm planning on buying that way. Just want to add that there is a certain savety procedure involving Ubuntu live CD etc. you should definitely undergo with your paper wallet. Then, as I understand it, it will be very, very safe!

Two questions though:

1. How about the other sides like Elektrum, Multibit, blockchain.info, etc.. - could I use them instead? What are the advantages/ disadvantages over bitadddress.org?

2. So I have my paper wallet securely stored away then - but what do I have to do in order to be able to sell my BCs? Do I need a "client" for that (and what even is a client)?

What are you looking for exactly ? I'm based in the UK.

we need somewhere here in the UK for easy transactions on bitcoins...Who fancy's taken up the challenge

There are first Bitcoin ATMs in some cities testing, give it time

Thanks everyone. My coinbase verification deposits finally went through, just in time for a fee-less black friday purchase! Of course I have to wait til next Thursday to actually see them, but, hey, hopefully that will actually go through, heh.

what kind of rates did you get? in my area, i am getting ask prices that are closer to mt. gox value than bitstamp. it's not worth paying 10% more... this is for buying btw.

as for selling, i haven't tried selling for very long. i had an ad up for a few days at bitstamp + 2% and i didn't get many buyers.

I spend a little every month on bitcoin at the cheapest rate I can find locally. I have paid a 10% premium before and will likely do it again.

I am a software manager for a large insurance company and Bitcoin is typical software. Like with any complex software, brilliant people know how it should work and can tell you how it is really ready for the big time now, but then almost ALWAYS when you use the actual system it sucks compared to what you were sold. There are a few exceptions to complex software, but this is the rule and Bitcoin is no exception.

When talking about real world usefulness TODAY, Bitcoin does have a few areas where it shines:

1. I can transfer money to another address reliably anywhere in the world with a tiny mining fee. Nothing else compares to world transfer of money, nothing. As long as you can convert BTC into any local currency, you can stay funded  with only the cash you need for the day using BTC with almost no risk of loss, wait time or fees that come with traditional over seas money management issues.
2. It is a value store unmatched by anything in the world (as long as it eventually stabilizes). How else could you do anything like print your own wallet worth an infinite amount of money, put that single piece of paper in a safe deposit box, put it in your will do what you want with it. Does stock offer this type of safe haven and management? How about gold, land, any other asset you can name. Nothing comes close to Bitcoin here.

Where it sucks and I think software geeks will nauseate us for another decade explaining away reality.

1. Bitcoin is not a daily transactional currency. I am not sure it even needs to be. Sure you can do it, yes it can work, but it is a pain in the ass and frankly risky. No way my mother ever buys a thing with Bitcoin the way it works today. Talk to me in ten years, yes i think it takes ten years to sort out the nightmare that is the crypto currency economy.
2. Getting local cash money back out of Bitcoin is terrible. If there is any reason BTC has exploded to $1000 its because nobody can figure out how to get their cash back!!! The best success i have heard is people selling local to other desperate investors. Too funny

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A little bit off topic (but in the same ballpark) is that today's litecoin madness showed that reliable infrastructure doesn't yet exist (in totality).

I was on a few alt-coin IRC chats and the number of people screaming about late transactions and sites not being able to do what they should do was amazing. People were waiting hours for coins they'd transferred from one place to the other.

Maybe it's the fault of the press but I thought these transactions were immediate. That wasn't the case today. A Faster Payment via the bank is definitely instantaneous (as quickly as you can get to the account receiving the money to check it has arrived). 6 confirmations to complete were taking as much as 30mins. I know the network was drowning under the increased load (Vircurex even had to stop a few withdrawal services), but it's not what I expected to see.

Your issue with buying a bitcoin is just more proof of the lack of a reliable infrastructure.

It will change though. People are flooding in and lots of sites are popping up to service them.

I'd even suggest paying over the odds if you believe in bitcoin. Some analysts say it's going to rise to about $600,000 (eventually) so paying an extra $100-$200 today might be worth it.

Two weeks ago, if you'd said you'd paid $800 for a $600 bitcoin people would have laughed in your face and called you a sucker.

Wierd, I am from Australia and its so easy to buy here. I am surprised its not the same in the U.S

Some good places to buy bitcoin at listed on blockchain.info, they list different things for each country.

How many exactly are you trying to buy here ? there are many different options and several exchanges where you can top them up and then pull them out in a different way.