Topic: Newbie with Questions; Fincen, Price Variances, Anonymity, Mining, Dollar Death (Read 480 times)

Yes, indeed you can. LBC was originally started to support that method and many sellers use it primarily today. I no longer do.

I used to sell BTC face-to-face but stopped doing so about 6 months ago. After an experience with counterfeit USD, I made my meeting-place the lobby of my credit union, where everyone knows me. I would accept the buyer'a cash and hand it to a bank teller. The bank teller verified that the cash was good, and then I immediately transfered the coins to the buyer. Then one day it dawned on me that I did not need actually to be there. If a buyer was willing to hand his cash to a bank teller and receive his BTC instantly, and I could see the deposit as soon as the teller hit her terminal button, why meet physically? The buyer can go to his nearest bank, I can sit at my office desk, and we can do the trade faster, easier, and with less driving.

From the buyer's viewpoint, it may seem safer to look someone in the eye rather than over the internet, but this is an illusion. First, with LBC the seller's coins go into escrow tagged with the buyer's userID the moment that the buyer requests a trade. The seller can only release the escrow to the buyer (presumably after the bank deposit appears online) but cannot get it back. Second, as with any other business, the tradesman's reputation is everything. If a seller has a spotless reputation after trading with several hundred different buyers, physical presence does not really change anything.

In short, if you are more comfortable meeting a seller face-to-face, I would encourage you to do so. Just keep in mind that many no longer consider physical presence necessary.

Thanks, with regard to local bitcoin, can't i just meet with someone and give them cash after they've transferred bitcoin to my phone in person?

I'm aware of the nature of bitcoin, being decentralized, how new blocks are created, the 21 million limit and divisibility, etc.

1)Good luck, this is not e-gold, this is not paypal. There is not a company, central server or anything similar in the bitcoin network. It is totally decentralized.
2)Try selling bitcoins on mt-gox and getting cash, call us when you finally receive it...
10)Not our problem. Wrong section. Ask to Obama.

To answer question 3 (and part of 4):
Join localbitcoins.com and buy bitcoins with cash deposit to a nearby bank.

For Bank of America, Wells Fargo, or Regions Bank: https://localbitcoins.com/ad/15776/?ch=4ja

**Immediate. Reliable. Anonymous.**
Your satisfaction guaranteed!
Money refunded if request made within 24 hours of trade.
No questions asked.

Detailed instructions: http://backintyme.com/depos.php

My profile and feedback: https://localbitcoins.com/accounts/profile/coqui33/?ch=4ja

FAQs: http://backintyme.com/deposfaq.php

I have no answers for the other questions.

Relevant info About me:

-Ancap
-I have been aware of bitcoin since the price was in single dollars but failed to invest until now. =(
-I dont want to buy Bitcoin from my bank account if I can avoid it.
-Looking for anonymous ways to buy BTC.

I have some questions before i make my first procurements:

1. Can fincen kill it? egold was destroyed and paypal forced to conform.

2. Why do some exchanges have BTC for 500(Russian), others 800+(Gox)? Would it not be better for me to buy Russian?

3. Where should i get my first coins?

4. With regard to fees and anonymity, should i do one or two large purchases or many small ones?  Can i purchase large amounts of bitcoin anonymously? 

5. Would it be better to get into mining as opposed to purchasing BTC if I have substantial money to invest in it?  How much capital does one need to see 1 or more BTC per month?

6. If bitcoin is so valuable, why are exchanges selling it for fiat?

7. I am a considering spreading my investment out among Bitcoin, Litecoin and other altcoins.  Would this be prudent considering the current-MAYBE inflated price of bitcoin?

8. How will bitcoin be exchanged(for goods and services) in the future when people are not spending in the present but hoarding(deflation)? 

9. In other words, is the current value of bitcoin more an indirect function due to fed printing than actual value?

10. If currency being kept out of America in the oil market comes home(catastophic inflation), what would Americans buy BTC with?  How would Americans buy other currencies to purchase BTC with if their dollars are worthless?

Thank You ALL!