Topic: Why bitcoin is going nowhere (too hard to buy bitcoin) (Read 8928 times)

On the other hand don`t you guys think that cryptocurrency field is a little bit unfair? People work whole life and achive nothing while some tricky guys have a real stroke of luck and become a milionaire immediately thanks to crypto..

Do I have to register to buy BTC there? How long does the transaction usually take?

I vote for illegal bitcoin exchanges.  As you know damn well they wont change the law.  They are afraid people will use it for other reason and may lose tax money somewhere.

I agree that is is really difficult to buy bitcoin but it is almost impossible to sell bitcoin without compiling with KYC. Services like Coinbase or Circle have to follow the law and ask for verification to all bitcoin buyers that is how the law is. The only way to change that is either to lobby the government and convince them to change the laws or use illegal bitcoin exchanges.

Buying Bitcoin is pretty annoying. The best is getting on Bitcoin. Make jobs being on Bitcoin a common thing and Bitcoin will start raising. People just don't care enough to go through buying to use it, they will buy only if they want to treat it like gold, not like an actual currency. It defeats the purpose if everytime you want to buy something you have to first buy Bitcoin and then buy whatever when you could just buy directly with fiat. In most cases you aren't getting any advantages out of doing that. So in my opinion the success of Bitcoin can't come from expecting people is going to exchange their fiat for BTC to buy stuff.

Maybe in Austrilia that happens because in the UK you can buy bitcoins with credit card using coinbase.

Interesting (and almost relevant) story...
I had a meeting with my financial advisor a couple days ago. This guy handles many people's portfolios and has asked me about bitcoin in the past (even called me once to ask about trading them on an exchange).
On this recent occasion, I steered our conversation to bitcoin and he commented that it was hard to get.
I told him i use localbitcoins a lot, and that there were traders almost everywhere. That shocked him. He wasn't aware that, even in this city where he lives, he was surrounded by traders at his beck and call.

Moral of the story: even those in the financial field with an interest in bitcoin still have very little idea about how to get bitcoin.
They don't automatically think of peer to peer trading, and it needs to be pointed out specifically.

i tried to buy bitcoins here a month or so ago online with  CC.

Have to say I never did buy any.

When I seen all the information that they wanted I said no.

They wanted almost a whole life story.

I mean everything.   I have to say it is way easier to buy a car or even a house compared to purchasing BTC.
Which I find to be ridiculous.  They worry about fraud and all these other scams.  Well it happens with other sorta of currency and even prepad debit cards which you can literally lie and some of them activate your card in pretty much any ones name.

The local btc sites I dont really like either.  Most of the time you cant buy the amount you want because they all want to drop a bunch or have a min they will sell.   then you have the online like Feebay purchases which same of the seller charge way more then what they are worth.  And some vendors even require you to take a photo of you holding your ID and send it to them before they will send you your coins.  And then there are even some that state you must be verified and have an active ebay account for more then 90 days.   It is seriously ridiculous.

Even though BTC states that it is decentralized it to a point is not.  With the regulations and such that have been put in place it is still controllable. It all depends on how you look at it.  If you look at the big picture even though it is decentralized the network it is on world wide just makes is a spread out super computer with a large block chain.  In general it is decentralized however it is proving to not be uncontrollable.

OK anyways.

I personally think governments are afraid of this sort of thing simply because they do not have FULL control.  So they do what they can to make it harder.  We need to find a way around it.

For the scammers and such out there.  If you own bitcoins and you dont want someone stealing your shit.  Know how to protect emm.  Dont have your private keys available to everyone and dont give out information and get with a trusted wallet.

I dont know.   This subject kind of annoys me really.

maybe you can try to buy bitcoin in other site 

Someone who thinks buying bitcoin is too hard must have a hard life. I guess he'll never buy a car or rent an apartment. Come to think of it, how did he manage to create an account here? That seems way too hard.

Bitcoin is going somewhere!

At least it is already changing the world and giving people the notion of how bad government controlled currencies are!

It's definitely harder to get a credit card and yet they are used worldwide and on a very large scale.

In many cases, when exchanges ask all these invasive questions, they are not doing it to interrogate you. I have found the same for banks in many cases. They usually don't *really* care what you put down as long as it's not "illegal activity". They have to ask all these questions for regulatory/KYC reasons. Just so they can say that they asked, in case shit ever hits the fan for them. They're just trying to protect themselves.

I don't think so, i see many BTC sellers all around.

Of course its hard to buy. Unless you use localbitcoins where you can buy with cash nothing faster.

i know lots of people who have bought it recently and in the past, i never have , though

sign up for banx io exchange or another exchange or trade/buy from someone willing to sell some here on the forum , just be careful.

Seriously?
What's the reasoning from coinbase?
Is your atm doing user id and verification?

Have you considered getting coins from coinbase to your own personal wallet first, then to atm?
Or maybe even with a couple extra steps there? I imagine you'd want to play safe with the coinbase account by including the steps to start with, then reducing the effort later.

Yes, and I own one.  The problem in the US is still purchasing the coins to fill the machine.  Coinbase won't, Kracken can't for my state, Not sure yet about Campbx.

I find most exchanges are asking for sensitive information. I agree they need to act within the law and make sure the applicant is genuine but I have reservations about uploading a scan of my passport for example.

I agree with you that market force is a great strategy. Seeing money left on the table inspires business to join your efforts. I would never fill out the form in this thread for example. But I don't think it hurts to directly contact law makers. They do listen, even though many things that 80% of the population supports do not happen.

I also think that if you vote, participate, write letters; and still nothing happens... Then you have earned the right to bitch up a storm. If I start with "poor me, the gov is evil" then I seem like a complainer.