Topic: How easy was it to buy Bitcoin back in 2011? - page 3. (Read 9170 times)
I'm pretty sure early 2011 you could still purchase Bitcoin with paypal because there wasn't many people aware with the chargeback issue.
Were there exchanges back then and did these exchanges accept buyers' money from around the world? How was the process like on Mt. Gox? I'm trying to come up with reasons for why I couldn't buy Bitcoin when they were dirt cheap to make myself feel better for missing out on making a lot of money. Because I read about Bitcoin in 2011 but I didn't pay anymore attention to it and didn't think people would start speculating with it and blow up the way it did 
yes your right people from the start knew how valuable bitcoins would eventually become though it was still easy to obtain them well into last
year for a very decent price
Many people saw the potential right away.
There were discussion threads during the 2011 bubble that people would be buying mansions and islands for their Bitcoin soon. While that may not have not happened yet, were are still on track for that.
How high do they expect bitcoin to go up?
I'm pretty much sure it's happening already. If not happeining that at least there are some ppl that CAN buy Islands and stuff like that with amount of BTC they have (or better say, with par of BTC they have). Some of them out there are filthy rich.
I have 0.001
Each of us have our own budgets and means, and .001 is the equivalent of $.62, which seems insufficient to accomplish anything in the BTC space.
If you currently, know about BTC, then you should attempt to acquire as many BTC as you deem practical 10 to 20 BTC would be a decent goal, especially, if we consider where BTC will be in about 5 years... I'm speculating possibly in the $100K range per each BTC?
Yah i would like to onw at least 10, but i dont know how.
I'm pretty much sure it's happening already. If not happeining that at least there are some ppl that CAN buy Islands and stuff like that with amount of BTC they have (or better say, with par of BTC they have). Some of them out there are filthy rich.
I have 0.001
Each of us have our own budgets and means, and .001 is the equivalent of $.62, which seems insufficient to accomplish anything in the BTC space.
If you currently, know about BTC, then you should attempt to acquire as many BTC as you deem practical 10 to 20 BTC would be a decent goal, especially, if we consider where BTC will be in about 5 years... I'm speculating possibly in the $100K range per each BTC?
We are not prophets
I'm pretty much sure it's happening already. If not happeining that at least there are some ppl that CAN buy Islands and stuff like that with amount of BTC they have (or better say, with par of BTC they have). Some of them out there are filthy rich.
I have 0.001
I don't know much about 2011, but in 2010 it was extremely easy to buy Bitcoins. Because the most important exchange at that time (New Liberty Standard) accepted both Paypal and CC (Visa / Master). And you won't believe the exchange rates. It was 1$ = BTC1,309.03. 
kill me
I never really bought any bitcoins BUT in 2011-2012 it was quite easy to buy Casascius coins from your local ebay (or whatever you have).
I bought 7 from someone local in New Zealand for the MtGOX USD->BTC spot price, from memory it was about $7.
Neil
I bought 7 from someone local in New Zealand for the MtGOX USD->BTC spot price, from memory it was about $7.
Neil
It's nice to read these varying memories.
I keep searching my memory regarding when I first heard about bitcoin - maybe 2013? I did NOT research into it, until November 2013.
It is very hypothetical what I would have done in 2011, if I had researched into BTC, yet my thinking is that I would NOT have invested into it - even though once I started to look into it, I thought that it was great, even at $1,200 per BTC.
Currently, I believe that BTC is a good value, while it remains under $1,000 per BTC.
I keep searching my memory regarding when I first heard about bitcoin - maybe 2013? I did NOT research into it, until November 2013.
It is very hypothetical what I would have done in 2011, if I had researched into BTC, yet my thinking is that I would NOT have invested into it - even though once I started to look into it, I thought that it was great, even at $1,200 per BTC.
Currently, I believe that BTC is a good value, while it remains under $1,000 per BTC.
it was fairly straight forward in 2011. i wired money to mt gox and got my coins at what would be the bottom. (~$2.5/btc)
Yeah this was my experience as well. Some hours later that day I realized "fuck!! I have 400 euro *in this computer*, gotta make a backup *now*"
. 
There was not AML or any verification for accounts, so it was super easy to deposit and withdraw both btc and fiat.
In fact, in 2011 I had several accounts on Mt.Gox under different pseudonyms. Later on, they forced me to merge all my accounts into a single account when they started requiring linking an SSN or EIN to all US accounts. it was fairly straight forward in 2011. i wired money to mt gox and got my coins at what would be the bottom. (~$2.5/btc)
from what i could tell from others around me at the time, the hard part was actually making up your mind to go through with it. personally, it was an easy decision since i was buying them to play online poker again, after being told i couldn't play for dollars in the usa.
from what i could tell from others around me at the time, the hard part was actually making up your mind to go through with it. personally, it was an easy decision since i was buying them to play online poker again, after being told i couldn't play for dollars in the usa.
That was what my first purchase of bitcoin was for. I bought a few...put them on sealswithclubs, made some more and lost some.
Then, started playing around with the alt scene.
Fun times.
In 2011, the only exchanges available were mtgox as the largest, and tradehill was a runner up. There was not AML or any verification for accounts, so it was super easy to deposit and withdraw both btc and fiat. It was nearly free too. They had dwolla back in the days, which only cost 25cents to deposit and withdraw fiat.
It was a lot easier to mine back then, so I didn't purchase a single btc. I did use my mined btc to day-trade on mtgox though, but never purchased additional btc with new incoming fiat.
It was a lot easier to mine back then, so I didn't purchase a single btc. I did use my mined btc to day-trade on mtgox though, but never purchased additional btc with new incoming fiat.
BitInstant was around near the end of 2011, right? That made buying Bitcoin pretty easy.
2012
So I don't know if it was exactly what you would call difficult but it was a uncomfortable process.
I don't know, it's not exactly hassle-free nowadays. I mean there are quite a number of exchanges that are rather trustworthy, as in 'they most likely won't go bust while you purchase your coins and won't run away with your money in the meantime' but you have to comply with all the KYC and AML regulations. I totally understand why they exist and don't mean to debate their usefulness, but they're and additional hurdle for people wanting to buy BTC.
So I don't know if it was exactly what you would call difficult but it was a uncomfortable process.
it was fairly straight forward in 2011. i wired money to mt gox and got my coins at what would be the bottom. (~$2.5/btc)
from what i could tell from others around me at the time, the hard part was actually making up your mind to go through with it. personally, it was an easy decision since i was buying them to play online poker again, after being told i couldn't play for dollars in the usa.
from what i could tell from others around me at the time, the hard part was actually making up your mind to go through with it. personally, it was an easy decision since i was buying them to play online poker again, after being told i couldn't play for dollars in the usa.
I remember hearing of bitcoin in 2011, getting excited about it, wanted to buy with paypal..couldn't. Decided I'd wire the money to an exchange to purchase 1000 of them. Then learned that the exchange was some shady looking website named after Magic the Gathering cards. I felt like an idiot for even getting excited about it and went on to forget about it for a long while.
If it actually makes you feel better, there might've been a chance that you left your BTC on that very exchange and well, who knows if that cryptic exchange even exists anymore
legendary
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I remember hearing of bitcoin in 2011, getting excited about it, wanted to buy with paypal..couldn't. Decided I'd wire the money to an exchange to purchase 1000 of them. Then learned that the exchange was some shady looking website named after Magic the Gathering cards. I felt like an idiot for even getting excited about it and went on to forget about it for a long while.
You were at least correct about Mt Gox, it was a scam.
I remember hearing of bitcoin in 2011, getting excited about it, wanted to buy with paypal..couldn't. Decided I'd wire the money to an exchange to purchase 1000 of them. Then learned that the exchange was some shady looking website named after Magic the Gathering cards. I felt like an idiot for even getting excited about it and went on to forget about it for a long while.
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