Topic: I want to turn $10,000 in to BTC. (Read 4714 times)

yeah they have daily limits but you could probably convert the whole wad eventually if you were patient

+1 to using Tangible Cryptography.

Also, I think converting $10,000 at once is against BitInstant's terms of use.

very usefull info. thanks.

That is correct.  Buyers simply deposit cash into one of our company bank accounts at Wells Fargo, Bank Of America, or PNC Bank.

OP if you have questions on getting set up send us an email or Private message.  

To get setup you will need four things:
1) Install a GPG client.  Looks like you have already done that.

2) Create a personal keypair (public & private key).  In GPA from the menu [Keys] > [New Key]. Just follow the wizard.  Kinda like bitcoin you keep the private key secret and share the public key. 

3) Export your public key and send it to us.   In GPA right click on your key > [Copy].  You can paste it into a message or email.

4) Import our public key. It is available in the Bitcoins Direct thread.  Copy the text of the keyblock.  In the GPA main window right click > [Paste].  The key is also available on MIT GPG key server.
http://pgp.mit.edu:11371/pks/lookup?op=get&search=0x28BB715FC26C17CD

You can now send us an encrypted test message, include your exported public key and the method you wish to use to make a deposit.  GPA has a clipboard which makes encrypting text messages easy.  From GPA main windows > [Clipboard] icon.  Write the message, paste in your public key.  Click [Encrypt] select our company public key, then [OK].  The clipboard will change to encrypted text.  Copy the entire thing and paste it into an email.  We will send you back encrypted funding instructions.

Note to GPG experts: Yes there are other methods to handle key exchanges but we have found this method to be the most "GPG noob" friendly.

I'm pretty sure you don't need either. You can just do a cash deposit at any of the banks he uses.

+1

I don't think it would be wise to drop 10k in bitcoin as the price flux is so random that your 10k could be 5k in a matter of months, or then again, in maybe 3 month, you make triple it.  But you get my point, it's that unstable!

I'd send it all to a local wallet, put the wallet.dat on an SD card, and hide it somewhere or store in a safe place and delete it from system. (maybe also encrypt it)

I'm back.

I'd like to put a $1000 in this month just to get my feet wet but things seem to have complicated with Tangibles services.  I've downloaded gpg4win and just reading the howto.txt is making my head hurt.  I feel like I need a degree in computer programming just to start investing in btc.  Do I need a bank account or ID with tangibles bank deposits or how does that work?


Side note:  Where do I begin with programming, CC+, S/MIME, X.509, cypher, crypto, etc.... world?  Where did all you whiz kids learn it?

The best way to make 10 000 bitcoins is to start with 100 000 bitcoins.

ba dum cha!

I'll pile on the the BitInstant recommendation, getting the Money online fast is a good idea in this market and it was pretty painless. When I got home from the store I had BTC. (well 2 verifications at least)

With 10k you will have to trickle it out over a week unless part of the money (really, not just pretend) belongs to someone else who could transfer their own 2k per day.

Off topic. Base a forum on it's community, the people who make up its membership. Forum software is secondary as usually the geeks who run it are too busy to be bothered to use commercial software or open source software or maintenance or whatever.

I frequent several other forums, some use punBB, phpBB, vBulletin. This one uses SMF. Layouts of the different forums depends too, color schemes, etc. Some forums are even free hosted forums (with advertisements), yet contain a goldmine of information for it's niche. That particular one really sucks in the layout department.

This is the main, biggest, first, whatever bitcoin forum. With >64,000 members, you can assume at least some of them to be nice good people. Maybe even a higher percentage than other forums. In any community, there will always be bad eggs, trolls, whatever you want to call them.

At least one is no longer replying, so we can also assume there are also lurkers and other non-existent forum members.

Appreciate all the feedback.  It's impressive how helpful and expedient these forums are.  I figured they'd be dragging ass.  Lesson learned don't judge a forum by its layout. 

I'll be doing my homework in the coming days and weeks.  More questions to come.

I want to turn 1 bitcoin into 10 000  bitcoins. How do I do that ?

The wallet file and even the paper wallet or "text file" or saved in a "word processing.doc" file or something similar should be at most a megabyte. My paper wallet is about 2 pages and holds 100 private and public key pairs. I printed it on a laser printer, put it in an envelope and locked it in a desk (or safe.)

If the file itself is that small, or even if it were 1 gigabyte, you could purchase several flash drives and SD cards and save multiple copies. My paper wallet is about 2 or 3 copies in the same envelope only because it was so cheap to print it.

You can evenly distribute the $10,000 into $200 chunks in 50 different bitcoin addresses, for example. Then you treat it like a stock certificate or bearer bond or promissory note or something good as cash.

In 5 years, that $10,000 could be $20,000 worth. But no one knows for sure, everyone is just speculating.

Tried that, OP is hip to the jive, nothing to see here

I really want to try these guys for my next purchase.  They seem legit and it's a good deal.

I'd be backing up like CRAZY.

Also, DON'T be like these numbskulls who password protect their wallet and then forget the password.

I will keep it safe, send it to my linked address and I'll let you know when it arrives.

If this is a savings account, be aware that there exist multiple risks of huge losses. Project failure, hack of you, hack of your client, problems due to Gox' size in the economy, failure of backup, counter-party risks, government interventions, and the good ol' market-based price crash that can make you wish you had kept something outside BTC.

I'm a big proponent of buying some BTC as savings money, but I mostly advise "some", not "ALL IN!!!111oneeleven" -- we don't know what might happen. If those 10k are change to you, great, jump on in. If they're more than 50% or your savings, my recommendation is to watch out and be conservative.

In the history of Bitcoin to the present day, people who put in money all at once faced losses more often than those who were calm and careful about it. The market is still quite unstable. Of course there's a chance that a billionaire will launch a huge BTC industry tomorrow and send prices to the moon, but that's not something to bet everything on.