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.

Tammy Chan

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Quote from: Possum577 on July 26, 2014, 11:47:23 AM

I expect it to go down. Once all have been mined it may grow in value some. What percentage have been mined so far?

You can check https://btc.blockr.io/ for that. At this moment, the figure is 62.23%

Quote

Coins in circulation
13,067,325
of ~21 Million (62.23%)

DrG

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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.

Lanzer

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Well not sure if it was easy to buy a bitcoin back then but at least they were cheap

polynesia

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Quote from: Possum577 on July 26, 2014, 11:47:23 AM

I expect it to go down. Once all have been mined it may grow in value some. What percentage have been mined so far?

More than the amount which has been mined, the rate at which bitcoins are being mined will have an effect.
So I expect a spike next time the block reward is halved.

blitzcrank

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I just buy mine from my friend, since hes a miner lol.

tins

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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.

JayJuanGee

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Quote from: Possum577 on July 26, 2014, 11:47:23 AM

Quote from: NapoleonBonaparte on July 21, 2014, 09:14:33 AM

Quote from: Mageant on July 20, 2014, 02:07:25 PM

Quote from: Bitcoinpro on July 20, 2014, 10:23:09 AM

Quote from: Chokkan on July 20, 2014, 08:50:27 AM

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 Cry

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 expect it to go down. Once all have been mined it may grow in value some. What percentage have been mined so far?

13.1/21 = 62.4% of all BTC have already been mined

InwardContour

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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.

ashe

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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.

Possum577

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Loose lips sink sigs!

Quote from: NapoleonBonaparte on July 21, 2014, 09:14:33 AM

Quote from: Mageant on July 20, 2014, 02:07:25 PM

Quote from: Bitcoinpro on July 20, 2014, 10:23:09 AM

Quote from: Chokkan on July 20, 2014, 08:50:27 AM

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 Cry

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 expect it to go down. Once all have been mined it may grow in value some. What percentage have been mined so far?

InwardContour

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Quote from: minerpumpkin on July 26, 2014, 10:43:39 AM

Quote from: Chemistry1988 on July 26, 2014, 10:35:01 AM

Quote from: minerpumpkin on July 26, 2014, 10:11:00 AM

I wouldn't be surprised if people who bought at those prices turn out to be early adopters, still. Time will tell.

Looks like you are pretty bullish on the bitcoin price, expecting it to go well beyond $1000. So am I. Cheesy

Thing is, I'm long-term bullish or at least believe the risk/reward ratio is acceptable. Right now, it could go either way, but we've been at this point before. A couple of times. That being said, I repeat... I wouldn't be surprised if it increased by another 500%-1000% again. I'm not certain, though

I would be surprised if bitcoin won't increase at least of 4x in the next year

The adoption is increasing and we had some good news, there's no reason why it won't grow like in the past years.

minerpumpkin

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Quote from: Chemistry1988 on July 26, 2014, 10:35:01 AM

Quote from: minerpumpkin on July 26, 2014, 10:11:00 AM

I wouldn't be surprised if people who bought at those prices turn out to be early adopters, still. Time will tell.

Looks like you are pretty bullish on the bitcoin price, expecting it to go well beyond $1000. So am I. Cheesy

Thing is, I'm long-term bullish or at least believe the risk/reward ratio is acceptable. Right now, it could go either way, but we've been at this point before. A couple of times. That being said, I repeat... I wouldn't be surprised if it increased by another 500%-1000% again. I'm not certain, though

Chemistry1988

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Quote from: minerpumpkin on July 26, 2014, 10:11:00 AM

Quote from: polynesia on July 26, 2014, 09:11:48 AM

Quote from: Possum577 on July 25, 2014, 11:23:36 PM

Everyone has their version of this story. Don't kick yourself for it and be happy that you got involved as early as 2014!

(At least that's what I tell myself)

And not in late 2013, when BTC was going for over $1,000.

I wouldn't be surprised if people who bought at those prices turn out to be early adopters, still. Time will tell.

Looks like you are pretty bullish on the bitcoin price, expecting it to go well beyond $1000. So am I. Cheesy

minerpumpkin

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Quote from: polynesia on July 26, 2014, 09:11:48 AM

Quote from: Possum577 on July 25, 2014, 11:23:36 PM

Everyone has their version of this story. Don't kick yourself for it and be happy that you got involved as early as 2014!

(At least that's what I tell myself)

And not in late 2013, when BTC was going for over $1,000.

I wouldn't be surprised if people who bought at those prices turn out to be early adopters, still. Time will tell.

polynesia

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Quote from: Possum577 on July 25, 2014, 11:23:36 PM

Everyone has their version of this story. Don't kick yourself for it and be happy that you got involved as early as 2014!

(At least that's what I tell myself)

And not in late 2013, when BTC was going for over $1,000.

Possum577

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Loose lips sink sigs!

Quote from: Chokkan on July 20, 2014, 08:50:27 AM

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 Cry

Everyone has their version of this story. Don't kick yourself for it and be happy that you got involved as early as 2014!

(At least that's what I tell myself)

Possum577

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Loose lips sink sigs!

My grandpa told me that back in 2011 Bitcoin was only available on these little brass coins with holograms on side, they were made by this mythical person called Casascius. Psych.

I'm glad it's significantly easier to buy BTC now than it was two years ago. It's great to see this system evolve and grow and succeed.

redHeadBlunder

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It was much easier as you didn't have to deal with AML issues that you deal with now

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: Chokkan on July 20, 2014, 08:50:27 AM

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 Cry

It wasnt as hard as one may assume. I traded liberty reserve dollars for bitcoin, and many various virtual items.
There was allways a way of obtaining btc, for those who bothered to try.

cheers

JayJuanGee

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Quote from: obocaman on July 21, 2014, 08:52:44 AM

Quote from: JayJuanGee on July 21, 2014, 04:31:35 AM

Quote from: obocaman on July 20, 2014, 04:49:37 PM

Quote from: ljudotina on July 20, 2014, 02:23:28 PM

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 Cry

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.

.001 is a pretty slow start. I do NOT expect BTC prices to go down much more... possibly BTC prices could lower into the $500s, but no one really knows.

If you bought 10BTC at today's prices, it would cost you around $6300.

Accordingly, probably, it is best for a person with a limited budget to buy some bitcoin every week... earn some extra money, and buy $20 to $100 worth of BTC per week, and if you get your hands on additional money or additional work, then increase the amount of BTC that you buy on a weekly basis.

Of course, how someone invests depends upon his/her risk tolerance, his/her means and his/her chosen lifestyle and the extent to which s/he has other investments. Diversification of investments is also good;however, BTC seems to be a fairly decent investment and seems to be under valued at the moment.

Baitty

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I'm pretty sure early 2011 you could still purchase Bitcoin with paypal because there wasn't many people aware with the chargeback issue.

NapoleonBonaparte

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Quote from: Mageant on July 20, 2014, 02:07:25 PM

Quote from: Bitcoinpro on July 20, 2014, 10:23:09 AM

Quote from: Chokkan on July 20, 2014, 08:50:27 AM

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 Cry

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?

obocaman

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Quote from: JayJuanGee on July 21, 2014, 04:31:35 AM

Quote from: obocaman on July 20, 2014, 04:49:37 PM

Quote from: ljudotina on July 20, 2014, 02:23:28 PM

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 Cry

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.

JayJuanGee

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Quote from: obocaman on July 20, 2014, 04:49:37 PM

Quote from: ljudotina on July 20, 2014, 02:23:28 PM

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 Cry

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?

GreenCoin22

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obocaman

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Quote from: ljudotina on July 20, 2014, 02:23:28 PM

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 Cry

obocaman

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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

kill me

MineForeman.com

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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

JayJuanGee

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Self-Custody is a right. Say no to"Non-custodial"

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.

dserrano5

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Quote from: bucktotal on July 20, 2014, 03:01:49 PM

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*" Cheesy

.

Soros Shorts

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Quote from: haploid23 on July 20, 2014, 03:11:04 PM

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.

tins

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Quote from: bucktotal on July 20, 2014, 03:01:49 PM

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.

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.

haploid23

legendary

Activity: 812

Merit: 1002

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.

farlack

legendary

Activity: 1310

Merit: 1000

Quote from: bridgesro on July 20, 2014, 09:45:21 AM

BitInstant was around near the end of 2011, right? That made buying Bitcoin pretty easy.

2012

FUR11

sr. member

Activity: 378

Merit: 250

FURring bitcoin up since 1762

Quote from: annoyingorange on July 20, 2014, 03:02:50 PM

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.

annoyingorange

member

Activity: 72

Merit: 10

So I don't know if it was exactly what you would call difficult but it was a uncomfortable process.

bucktotal

full member

Activity: 232

Merit: 100

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.

FUR11

sr. member

Activity: 378

Merit: 250

FURring bitcoin up since 1762

Quote from: annoyingorange on July 20, 2014, 02:54:32 PM

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

Remember remember the 5th of November

legendary

Activity: 1862

Merit: 1014

Reverse engineer from time to time

Quote from: annoyingorange on July 20, 2014, 02:54:32 PM

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.

annoyingorange

member

Activity: 72

Merit: 10

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.

shkiser

sr. member

Activity: 350

Merit: 250

Quote from: manfred on July 20, 2014, 02:48:41 PM

This tread made look up when i got my first bitcoin.

Quote

05199 21.06.2011, 20:37:20 khorne 2.6 BTC 11.39 GBP 29.61 GBP Confirmed

It was very easy to get the 2.6 BTC on June 2011 and then a total of 111 over the next 3 weeks all paid with paypal.
I lost every single one of them. Most on the scamy exchange i left them on, no not gox i got goxxed before the word existed.
0.6 of a bitcoin is stuck until this day on a doggy phone app.

Looking back at my first transactions they were 20-30 bitcoin each. I deposited almost 1k bitcoins in less than a year. At todays value thats over half a mil lol..

Remember remember the 5th of November

legendary

Activity: 1862

Merit: 1014

Reverse engineer from time to time

Bitcoin in 2011 was the best thing ever.

manfred

legendary

Activity: 966

Merit: 1001

Energy is Wealth

This tread made look up when i got my first bitcoin.

Quote

05199 21.06.2011, 20:37:20 khorne 2.6 BTC 11.39 GBP 29.61 GBP Confirmed

It was very easy to get the 2.6 BTC on June 2011 and then a total of 111 over the next 3 weeks all paid with paypal.
I lost every single one of them. Most on the scamy exchange i left them on, no not gox i got goxxed before the word existed.
0.6 of a bitcoin is stuck until this day on a doggy phone app.

ljudotina

legendary

Activity: 1260

Merit: 1029

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.

Mageant

legendary

Activity: 1147

Merit: 1001

Quote from: Bitcoinpro on July 20, 2014, 10:23:09 AM

Quote from: Chokkan on July 20, 2014, 08:50:27 AM

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 Cry

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.

Chokkan

newbie

Activity: 3

Merit: 0

Quote from: Panthers52 on July 20, 2014, 10:57:31 AM

It was much easier then because most exchanges didn't deal with AML procedures, they just took your word as to who you are. There were also a lot less scammers back then so most exchanges would accept reversible payment methods.

I still don't understand why exchanges have to make it very difficult to buy Bitcoin. I would love to just create an account and buy directly with my visa card at market rates. Can't that be done and still be in accordance with AML procedures? All this personal id verification nonsense and directly connecting your bank account is what is holding back bitcoin and putting off a lot of people.

FUR11

sr. member

Activity: 378

Merit: 250

FURring bitcoin up since 1762

Wasn't it the year when some of the now bigger exchanges like bitstamp emerged? Of course the biggest one operating back then was Mt. Gox. Still functional but even back then riddled with the occasional outage and bigger and bigger incidents...
On the positive side, bitcoin was still small enough so no one cared about KYC and AML laws. Positive for the customers, at least!

Panthers52

hero member

Activity: 675

Merit: 502

#SuperBowl50 #NFCchamps

It was much easier then because most exchanges didn't deal with AML procedures, they just took your word as to who you are. There were also a lot less scammers back then so most exchanges would accept reversible payment methods.

Catmoonglow

full member

Activity: 147

Merit: 100

You didnt have to buy it back then, just log into MtGox and take it.

shkiser

sr. member

Activity: 350

Merit: 250

I was able to buy bitcoin easily from other users and bitinstant. Its much harder for me to buy bitcoin in smaller amounts now, and Im more likely to borrow at interest from a user than go through an exchange or any other method at this moment. If I needed a large amount I would use J socal, Ive dont several cash trades with him

Meuh6879

legendary

Activity: 1512

Merit: 1012

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

at this time, virwox allow 1000 euros per day with paypal or CC ... limited to 10 000 euros per month (ID required = Level 4 after xxx months).
but fees are ... Roll Eyes

chaosPT

hero member

Activity: 896

Merit: 1000

Theres a guy who selling for paypal name coinpal or something .

Bad Uncle

member

Activity: 64

Merit: 10

You probably didn't even need an exchange, you could just buy them or trade them on here.

techman

legendary

Activity: 1020

Merit: 1027

I wish I had more bitcoin from 2011 and 2012

Bitcoinpro

legendary

Activity: 1358

Merit: 1000

Quote from: Chokkan on July 20, 2014, 08:50:27 AM

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 Cry

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

Chokkan

newbie

Activity: 3

Merit: 0

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

http://thoughtcatalog.files.wordpress.com/2012/10/bluevalentine-ryangosling-portable.gif?w=640&h=380

wpalczynski

legendary

Activity: 1456

Merit: 1000

Thats quite the exchange rate, wow.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

If you were into Bitcoin back in 2010-11, you didn't even NEED to buy them because they were so easy to mine. It was like, "run your computer for free money that isn't really worth anything.... yet."

bridgesro

member

Activity: 84

Merit: 10

BitInstant was around near the end of 2011, right? That made buying Bitcoin pretty easy.

Soros Shorts

donator

Activity: 1617

Merit: 1012

It was easy to buy small amounts on Gox without going through AML/KYC back then. I think the limit for unverified accounts was around $1000 USD/day.

bryant.coleman

legendary

Activity: 3808

Merit: 1219

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

Chokkan

newbie

Activity: 3

Merit: 0

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 Cry

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