If I buy bitcoin from blockchain where does it come from?

flower1024

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Quote from: bitcoinfactory on September 27, 2017, 11:20:30 AM

So I downloaded the app as i was thinking of buy some bitcoin which made me think, "if i buy say, $100 worth of bitcoin with a credit card (or wtv) where does the bitcoin come from? Who's providing it?"

Especially if blockchain.info is just a wallet.

Anyone know?

First you check how many local exchanges are there in your country. and which is more famous in your country. in blockchain you have the option to buy bitcoin from your debit/credit card. In my country we have one of the reputed BTC to local currency exchanger that site is listed on the blockchain site. If we want to buy any bitcoin through that site, we can buy. This option blockchain introduced recently.

Bruce Wayne

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Singwala

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Because you are just a novice I understand you. But read as well because this is the only thing you can do here in bitcoins to read to add and to gain a lot of knowledge. This is because we need whatever aspect of life is reading the most powerful of all, so you have the eye to look and read. This is the answer to your yes yes the blockchain is just a wallet and they have no ability to withdraw our money. But they have partners who provide services to withdraw our money. You will find this information in the blockchain once you have read it

binz

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What is Blockchain?
Nowadays, people trust an intermediary service (eg bank) to make a transaction. But with blockchain, it allows consumers and suppliers to liquidate directly with each other without third parties interfering.

By using a secure transaction code, the blockchain provides a hierarchical data, or "digital ledger". Everyone can see their transactions. This network is basically a series of computers that all have to approve a transaction before it can be validated and recorded. It's like sending a box that everyone confirms the box is yours. Sending the box will go to many different computers and be confirmed, the data in the box will be scattered and re-entered into a final string.

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Quote from: bitcoinfactory on September 27, 2017, 11:20:30 AM

So I downloaded the app as i was thinking of buy some bitcoin which made me think, "if i buy say, $100 worth of bitcoin with a credit card (or wtv) where does the bitcoin come from? Who's providing it?"

Especially if blockchain.info is just a wallet.

Anyone know?

I have never trusted the mobile app developers and to be honest till now i have never use any bitcoin app in my mobile. I request you to use some laptop or Hardware wallet like Trezor instead of Smartphone. Where in mobile the chances are high to get attacked by the virus. Now if you are buying $100 then it comes from the person who is selling it directly to your wallet, and dont complicate it too much because Bitcoin are created by mining process and this is how it moves on.

Maveth13

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When you buy bitcoins from someone, or a company, they are basically transferring already existing coins(which are mined) that they have to your account. You pay them fiat, they give you the corresponding bitcoin based on their rates.

BitcoinsGreat

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Quote from: bitcoinfactory on September 27, 2017, 11:20:30 AM

So I downloaded the app as i was thinking of buy some bitcoin which made me think, "if i buy say, $100 worth of bitcoin with a credit card (or wtv) where does the bitcoin come from? Who's providing it?"

Especially if blockchain.info is just a wallet.

Anyone know?

You bought from a person's wallet, not from the blockchain. The blockchain provides the rewards for block finders and that is all. There are plenty of sites that can give you the easy bitcoin lessons, this is very beginner stuff.

Mi5h0

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Quote from: bob123 on September 27, 2017, 12:44:57 PM

You have to think about Bitcoin like thinking about Gold.
You can only Buy it if someones is willing to sell gold.
And the Blockchain can be seen as a big book with all Transactions in it.

So if you buy a BTC the Blockchain memorizes your Transaction and you get your bought BTC's from a Seller

I am not trying to be that pedantic guy, but it IS really important that we start saying "blockchain.info" or BCI… or more and more people will start to think that THE Block chain is selling bitcoins to users Cheesy

Even though Blockchain.info can be used to monitor block chain activity, it is important to make the necessary distinction between the two. Blockchain.info is a web wallet and a platform (block explorer) that serves as a visual representation of the Bitcoin block chain.

Clearly, OP is asking about Blockchain.info services so it would be good to keep the discussion within that topic.

darkangel11

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Quote from: bitcoinfactory on September 27, 2017, 11:41:05 AM

Quote from: BurstIncomeAsset on September 27, 2017, 11:34:32 AM

blockchain is not an exchange, you can't buy from it
blockchain.info is just a block explorer, they don't sell anything

since you are a newbie, the "downloaded an app" part might contain a virus, better be careful

I don't know if I would use exchanges through mobiles

Quote from: ActiveP on September 27, 2017, 11:35:32 AM

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You will be buying it from blockchain.info - they are not only just a wallet, the people behind it are into various bitcoin/crypto currency projects.

Hmm these 2 posts seem to contradict each other. Who's is right?

As of the first reply, i got the official blockchain.info app from the App Store? Same as the link from the website.

I don't really know what ActiveP was trying to say Cheesy

The truth is if you buy BTC from anyone, it comes from a miner. It doesn't matter who provides the coins, he had to run a miner to get them. You can actually trace the coins back if you're interested in their origin. If you're buying coins through a wallet or some mobile app, it's usually linked to an exchange. So either you're buying from an exchange without having to register there or the owner of the service is selling you his coins, that he bought on an exchange or mined himself.

ruthbabe

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Quote from: bitcoinfactory on September 27, 2017, 11:20:30 AM

So I downloaded the app as i was thinking of buy some bitcoin which made me think, "if i buy say, $100 worth of bitcoin with a credit card (or wtv) where does the bitcoin come from? Who's providing it?"

Especially if blockchain.info is just a wallet.

Anyone know?

A new registrant, right? You just registered today at 03:15:21 PM with only 1 hours and 12 minutes spent online. Wink

Ok, I think it would help you best if you just Google, 'where to buy bitcoin with credit card' ... go ahead try it!

bob123

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You have to think about Bitcoin like thinking about Gold.
You can only Buy it if someones is willing to sell gold.
And the Blockchain can be seen as a big book with all Transactions in it.

So if you buy a BTC the Blockchain memorizes your Transaction and you get your bought BTC's from a Seller

amacar2

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Most of the services that allows selling and buying have some API which can instantly sell or buy whatever amount you want from the exchange platform with fiat they have in those platforms so that they can send those bitcoin to you.

Its always a bid and ask system.

electronicash

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i didn't know we can now buy bitcoin through blockchain lol
but why would you be interested in buying bitcoin from them when you can try the trusted exchanges which you can also use your credit card safely.
if this is your first, you might be interested on checking those localbitcoin sellers in your area.

kiemponxs

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Quote from: Ayers on September 27, 2017, 11:22:19 AM

when you buy bitcoin is because someone else is selling the same amount you want to buy, those bitcoin are not made just for you they are already bought before by someone else, i hope it help

I agree with you sir.
Well this is for you OP
this is what you need to know, you should try to go on a market with regard to bitcoin. you will know by looking at it.

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Quote from: bitcoinfactory on September 27, 2017, 11:20:30 AM

So I downloaded the app as i was thinking of buy some bitcoin which made me think, "if i buy say, $100 worth of bitcoin with a credit card (or wtv) where does the bitcoin come from? Who's providing it?"

Especially if blockchain.info is just a wallet.

Anyone know?

so you understand, get used to always find out first with lots of reading about bitcoin education.
if you buy on the market, there are many people who are selling and likewise with buyers like you. with a value that is certainly the same as you budget.

OROBTC

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...

Apparently blockchain.info will not sell Bitcoin to Americans. Pity that.

Mi5h0

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Quote from: bitcoinfactory on September 27, 2017, 11:41:05 AM

Hmm these 2 posts seem to contradict each other. Who's is right?

As of the first reply, i got the official blockchain.info app from the App Store? Same as the link from the website.

Blockchain.info is a UK based company (with headquarters located in Luxembourg) that is currently at the number one standing on the bitcoin business.
It is the most widely used Bitcoin block explorer but is also one of the most popular Bitcoin web wallets in the world.

According to their blog, users in the SEPA region have an option to purchase Bitcoin within a Blockchain.info wallet through their partnership with Coinify.

CryptoKranthi

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Blockchain.info is a web wallet and an exchange.It can convert your fiat to bitcoins.They have sellers.I mean if you want to sell those bitcoins which you have bought for 100$,you have to exchange with them.That is how they get bitcoins.

forkchain

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Quote from: ActiveP on September 27, 2017, 11:35:32 AM

Quote from: bitcoinfactory on September 27, 2017, 11:20:30 AM

So I downloaded the app as i was thinking of buy some bitcoin which made me think, "if i buy say, $100 worth of bitcoin with a credit card (or wtv) where does the bitcoin come from? Who's providing it?"

Especially if blockchain.info is just a wallet.

Anyone know?

You will be buying it from blockchain.info - they are not only just a wallet, the people behind it are into various bitcoin/crypto currency projects.

There are many multiple exchanges in some countries where people buy bitcoin directly and there are many countries which is not allowing people to buy bitcoin directly therefore blockchain.info is much better option.

mistanama

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Yes blockchain.info is just a wallet. That's right, so it does not have the ability to sell bitcoins, But you did not read it well?

Here's what I saw in my wallet blockchain - They have partner Exchangers so we can buy bitcoins and sell them.

"Blockchain works with exchange partners all around the world to make buying bitcoin in your wallet both a seamless and secure experience.

Hope this answers your question.

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