There is a lot of information to consume. The Wiki is a great place to get your fill.
https://en.bitcoin.it/wiki/Main_Page
When making trades Bitcoin-OTC is valuable, including the Web of Trust
Bitcoin-OTC: http://wiki.bitcoin-otc.com/wiki/Main_Page
Web of Trust : http://wiki.bitcoin-otc.com/wiki/OTC_Rating_System
Then there is my Kindle book : Bitcoin Step by Step : http://www.amazon.com/Bitcoin-Step-by-ebook/dp/B00A1CUQQU/
And my Blog : http://bitcoinsbs.wordpress.com
The advice already provided is extremely important. There are a lot of scammers out there, and you need to educate yourself. You would not buy precious metals fro just anyone and you would not buy just any stock. the same thing with Bitcoin, you really need to educate yourself first.
Topic: looking to buy $10k+ bitcoins (Read 910 times)
newbie's the most important thing is to find out all the issues involved.Do not rely on anyone but most of it for himself.
I am a newbie with regards to bitcoins. I read an article about them the other day and I think that they can be a great investment.
There are a few risks to be concerned with.
Firstly, any investment has the risk of a drop in value. Bitcoin is a very volatile asset with price swings in 2012 from as low as $3.87 to as high as $15.40. Do not invest more than you are willing to lose.
When acquiring the coins from the market -- there may be strategies that will help you obtain coins at the best price.
Some exchanges will require that you submit identity to purchase coins for that amount -- at least if you try to do it all at once. That may introduce delays, so keep that into account when planning.
Then you have risks once you have acquired the coins. Are you planning on hosting them with another party? There are counterparty risks in doing that. Or do you wish to store them securely yourself? For a larger purchase you may wish to consider an offline, cold storage method -- possibly using Armory.
If these concepts aren't already familiar to you, there's a bit of reading ahead of you before you make your full investment. Since there might not be a significant benefit from doing it all at once, you might wish to go through the motions with a smaller amount of funds and then commit once you know the process based on experience.
Read up here on the forums as to who performs these types of large transactions.
I know you are stuck in the newbie prison however you may be able to expedite your release by posting in the whitelist I believe.
If I were you I would get in direct contact with an exchange to do a transaction this large, this would serverely limit your chances to getting scammed I would say.
READ!! and be careful with an amount this large
https://bitcointalksearch.org/topic/now-here-casascius-1000-btc-fine-gold-coin-54845
Casascius may also be able to help you with a transaction like this and you may even be able to get the 1000BTC round if you can go high enough with the USD, I believe it says he will purchase on your behalf! Although i'm sure you would have to provide the funds first and foremost!
That will get you your bitcoins and an ounce of gold to boot.
I know you are stuck in the newbie prison however you may be able to expedite your release by posting in the whitelist I believe.
If I were you I would get in direct contact with an exchange to do a transaction this large, this would serverely limit your chances to getting scammed I would say.
READ!! and be careful with an amount this large
https://bitcointalksearch.org/topic/now-here-casascius-1000-btc-fine-gold-coin-54845
Casascius may also be able to help you with a transaction like this and you may even be able to get the 1000BTC round if you can go high enough with the USD, I believe it says he will purchase on your behalf! Although i'm sure you would have to provide the funds first and foremost!
That will get you your bitcoins and an ounce of gold to boot.
https://en.bitcoin.it/wiki/Buying_bitcoins
With that sum of money I would recommend look into one of the exchanges that can take bank wires.
I also would recommend looking into armory bitcoin wallet for some of the back-up options to be sure your coins are safe.
With that sum of money I would recommend look into one of the exchanges that can take bank wires.
I also would recommend looking into armory bitcoin wallet for some of the back-up options to be sure your coins are safe.
Hi,
I am a newbie with regards to bitcoins. I read an article about them the other day and I think that they can be a great investment. I am looing to buy $10k+ worth of bitcoins and was wondering if someone can point me in the proper direction how to do this. I understand nothing whatsoever about the process and little about how it actually works. I assume there are many scammers out there like any other business so any direction would be greatly appreciated.
Thanks
I am a newbie with regards to bitcoins. I read an article about them the other day and I think that they can be a great investment. I am looing to buy $10k+ worth of bitcoins and was wondering if someone can point me in the proper direction how to do this. I understand nothing whatsoever about the process and little about how it actually works. I assume there are many scammers out there like any other business so any direction would be greatly appreciated.
Thanks
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