How easy was it to buy Bitcoin back in 2011?

Oo ako to

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Quote from: Darklinkz on August 27, 2017, 02:20:36 AM

Quote from: mvidetto on August 22, 2017, 07:16:56 AM

2011.. Such a good time for BTC. Unfortunatelly, I wasn't such a big fan of BTC at that moment.

I know. Who would expect that it could go like this? I bet all those people who bought it cheap already sold theirs with just a small pump.

Internet connection is very limited here in our country back in 2011. You guys are lucky enough to heard btc. If only I lived there.

Darklinkz

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Quote from: mvidetto on August 22, 2017, 07:16:56 AM

2011.. Such a good time for BTC. Unfortunatelly, I wasn't such a big fan of BTC at that moment.

I know. Who would expect that it could go like this? I bet all those people who bought it cheap already sold theirs with just a small pump.

doothewop

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I like the clowns and the little dogs

I think the first time I actually bought BTC I had to go buy Linden
dollars, and then convert that to BTC. Jumping in and out of
Second Life to use their in-world ATMs in order to make the deal
go through. Losing what would now be hundreds of dollars in the
process. Yeah, maybe it's slightly easier now. I haven't actually bought
BTC in a couple years at this point. Nowadays I find it easier to buy Doge
then convert to BTC, saves a bundle on the stupid fees.

Remember when we thought we wouldn't have to pay fees?

mvidetto

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2011.. Such a good time for BTC. Unfortunatelly, I wasn't such a big fan of BTC at that moment.

kairo8758

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Learn Something New

I was once buy 1 btc using liberty reserve and it was quite easy
Stupidly didn't know anything about bitcoin as investment, probability of increasing price, etc. Undecided

Now it seems skyrocketing!

Skillboard

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Quote from: DrG on July 27, 2014, 02:12:35 AM

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF. Bitcoin went from $33 to $2. Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now. If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight. I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

lol, sold her as well?

Wayan_Pedjeng

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I am not sure, but back then there were not many Bitcoin exchanges around. And it was not easy to deposit fiat currency in exchanges such as Mt Gox and BTC-e. The easiest option was Localbitcoins, where you could purchase Bitcoins by bank transfer.

wildlandlord

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Quote from: bryant.coleman on July 20, 2014, 09:42:10 AM

I don't know much about 2011, but in 2010 it was extremely easy to buy Bitcoins. Because the most important exchange at that time (New Liberty Standard) accepted both Paypal and CC (Visa / Master). And you won't believe the exchange rates. It was 1$ = BTC1,309.03. Grin

Holly cow, I was 13 y.o. I just didn't know about BTC. I knew some people who get a huge profit because they were smart to note the BTC trend and invest a few cents in BTC. But I guess it's not too late...

sukiho

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Back then, there are only few people believes in Bitcoin, most of the people thinks that bit coin is another way to scam money. I wonders what they think about Bitcoin now Grin

zoomzoom

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Quote from: Eric Cartman on August 05, 2017, 09:11:23 PM

There was a time when you could get several bitcoins by fauceting and with giveaways.

Better than buy.

Entirely speculative though, the faucets were still giving away the same value they are now, maybe slightly more cos of the ease of mining back then. I'd say it hasn't really changed too much, localbitcoins has been around for ages and has mostly been a rip-off but is the easiest way to buy BTC for most people.

Eric Cartman

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There was a time when you could get several bitcoins by fauceting and with giveaways.

Better than buy.

Mageant

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Quote from: ?? on ??

Hi everyone!

This thread made me smile, laugh and cry Cry

I started this month Grin

is it too late ? Undecided

2017 = 1BTC=2700$

It's never too late to get into Bitcoin. Bitcoin is on an exponential curve. That means you only have to wait somewhat longer than others.

coinbuyer

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Quote from: Traffic4u on July 28, 2014, 05:02:58 AM

I used nanaimogold to get bitcoin at that time. Buy it with Liberty reserve.

wao i used nanaimogold once they are good but the best in rates is www.mybitcoinsusa.com even till now they are the best their btc rate now is 555 usd. they have best support also.

polynesia

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Quote from: DrG on July 28, 2014, 04:51:59 AM

Yes it was a large part of my holding but I was mining and the wife wanted me to break even on the little monsters that invaded her office and made it unbearably hot Cheesy

Aah... For miners, somehow I feel it is different.

Traffic4u

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I used nanaimogold to get bitcoin at that time. Buy it with Liberty reserve.

DrG

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Quote from: wolfYella on July 27, 2014, 08:31:15 AM

Quote from: DrG on July 27, 2014, 02:12:35 AM

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF. Bitcoin went from $33 to $2. Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now. If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight. I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

I don't think any of the exchanges really had Id or KYC requirements, but MyGox was by far the larggest exchange and didn't have any major competition.

Well Tradehill was there - and they died in a fiery mess with Dwolla. Then there was Zhou Tong and his lovely options platform that people lost a lot in.

MtGox asked for documents in 2012 after Tradehill went down and Dwolla started giving them trouble. People had to wait up to 3 months for a Dwolla transfer even with ID.

DrG

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Quote from: polynesia on July 27, 2014, 07:05:56 AM

Quote from: DrG on July 27, 2014, 02:12:35 AM

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF. Bitcoin went from $33 to $2. Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now. If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight. I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

Sold it at $7? Hope it wasn't a significant portion of your holding.

Yes it was a large part of my holding but I was mining and the wife wanted me to break even on the little monsters that invaded her office and made it unbearably hot Cheesy

wolfYella

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Quote from: DrG on July 27, 2014, 02:12:35 AM

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF. Bitcoin went from $33 to $2. Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now. If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight. I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

I don't think any of the exchanges really had Id or KYC requirements, but MyGox was by far the larggest exchange and didn't have any major competition.

polynesia

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Quote from: DrG on July 27, 2014, 02:12:35 AM

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF. Bitcoin went from $33 to $2. Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now. If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight. I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

Sold it at $7? Hope it wasn't a significant portion of your holding.

Tammy Chan

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Quote from: tins on July 26, 2014, 03:56:44 PM

Quote from: InwardContour on July 26, 2014, 02:09:22 PM

Quote from: ashe on July 26, 2014, 12:58:32 PM

I`m planning to buy btc, and it seems a lot harder since theres so much verifications, esp coinbase.

And linking to bank account etc.

You can buy some with localbitcoins, this way you don't have to worry about banks, just contact your seller and pay him.

I was going to use localbitcoins when I first got involved, but the person selling wanted an extra 10% on top of btc price. I figured it was worth it to go ahead and set up an account with coinbase and not have to pay that ridiculous extra charge.

10%? That is pretty bad.
I can find a few traders on localbitcoins in my city with over 100+ good feedback selling bitcoin at about 3-5% premium.

Topic: How easy was it to buy Bitcoin back in 2011? (Read 9170 times)