If I buy bitcoin from blockchain where does it come from? - page 2.

milewilda

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Quote from: bitcoinfactory on September 27, 2017, 10:20:30 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?

Blockchain.info is just indeed a wallet and you cant buy bitcoins directly on it.I dont know what you are referring on the topic title on buying bitcoin directly on blockchain.info is not really possible but you can actually buy bitcoin on exchangers and asking where those bitcoin come from then they do have a reserve came from different sources.

bitcoinfactory

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Quote from: BurstIncomeAsset on September 27, 2017, 10:43:26 AM

I have never tested the mobile app but I don't see anywhere in the site that says you can buy bitcoin from them or their partner using credit cards Huh

https://blockchain.info/wallet/#/

What do you use as a wallet if i may ask?

LoyceV

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Welcome new Bitcoin user

I recommend reading/watching a bit about how Bitcoin works. https://bitcoin.org/ is a good start for this.

To answer your question very shortly: Bitcoins are mined. That's how they are created, think of it as dollars being minted. From there, they can be transfered to other wallets.
So when you buy Bitcoins, they move from the seller's wallet to your wallet. That's it.

Quote from: BurstIncomeAsset on September 27, 2017, 10:34:32 AM

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

Please don't FUD on topics you don't know. From https://blockchain.info/wallet/#/ :

Compradora

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Quote from: bitcoinfactory on September 27, 2017, 10:20:30 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?

If it's a company, they have reserves as bitcoin. If it's an Exchange, there are pairs, peer to peer type, and you buy. This means another person sold that bitcoins to you.

BurstIncomeAsset

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I have never tested the mobile app but I don't see anywhere in the site that says you can buy bitcoin from them or their partner using credit cards Huh

bitcoinfactory

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Quote from: BurstIncomeAsset on September 27, 2017, 10:34:32 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, 10:35:32 AM

[

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.

ActiveP

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Quote from: bitcoinfactory on September 27, 2017, 10:20:30 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.

BurstIncomeAsset

hero member

Activity: 504

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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

boy130

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Quote from: bitcoinfactory on September 27, 2017, 10:20:30 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?

blockchain.info have partners who selling it to you. Check their agreement maybe you found...

bitcoinfactory

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Quote from: Ayers on September 27, 2017, 10:22:19 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

bolded part - lol I know, but seeing as blockchain isn't considered an exchange i was wonder where the bitcoin come from.

Ayers

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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

bitcoinfactory

newbie

Activity: 16

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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?

Topic: If I buy bitcoin from blockchain where does it come from? - page 2. (Read 527 times)