Buying bitcoins

srsly78 · 11-01-2014 2:56am

Transferring bitcoins or money into mtgox is really fast, it's just cashing out takes time. This would not be an issue in this situation - just delaying your profits.

Worztron · 11-01-2014 12:03pm

spix wrote: »

Q. How do I get a bitcoin address?
A. By creating a wallet

Q. Which wallet do I use?
A. I recommend https://blockchain.info/wallet/new for beginners.

Q. Where should I buy them from?
A. Imo the best place to buy bitcoins in Europe are localbitcoins.com, bitstamp.net and kraken.com as they all allow cheap SEPA transactions.

Is a scanned passport and other form of scanned ID required for kraken.com and localbitcoins.com? I know it is for bitstamp.net.

How safely kept is this personal info?

Worztron · 12-01-2014 10:51am

Has anyone used https://www.coinmama.com to buy bitcoins via Western Union?

Gryffindor · 13-01-2014 1:13am

Hi there, so my question I'm sure sounds very silly but if someone could explain it I would be very grateful.

Say you buy a small-ish amount of bitcoins, maybe 10, how exactly do you go about selling them? And how much of a fee would have to be paid?

srsly78 · 13-01-2014 1:47am

You sell them the same way you bought them, via a broker. The fee involved depends on the broker used.

PrzemoF · 13-01-2014 5:16pm

Gryffindor wrote: »

Hi there, so my question I'm sure sounds very silly but if someone could explain it I would be very grateful.

Say you buy a small-ish amount of bitcoins, maybe 10, how exactly do you go about selling them? And how much of a fee would have to be paid?

Go to bitcoin.de
Open account
Add you real bank account & verify it (takes a while)
Buy & sell bitcoins (use your bank account to pay for them or to receive payments)

More info here: http://bitcoin.travel/listings/bitcoin-de/

pH · 13-01-2014 5:33pm

srsly78 wrote: »

You sell them the same way you bought them, via a broker. The fee involved depends on the broker used.

Well that's not strictly true!

Basically you give someone money (or something of value) and they transfer bitcoins to your wallet (or vice versa). It really really really isn't any more complicated than that!

Bitcoin has no more "need" for exchanges or brokers than "cash" does - yea it makes some things easier but they're in no way necessary.

So ... how to sell a bitcoin .....

1/ Find someone who wants the bitcoin and is willing to pay for it.
2/ Accept payment
3/ transfer bitcoin to their wallet.

Anything more is just noise/complications.

srsly78 · 13-01-2014 5:35pm

Well why not just skip step 3 and not bother transferring the bitcoins? Trust is the issue.

pH · 13-01-2014 6:01pm

srsly78 wrote: »

Well why not just skip step 3 and not bother transferring the bitcoins? Trust is the issue.

That's like:

Someone asks "how to sell a fridge ..."

Someone explains how to sell a fridge ....

You come along and say "why no skip giving the guy the fridge?" - bitcoins involve no more or less "trust" than any sale.

srsly78 · 13-01-2014 6:21pm

Sure in theory. But in reality most people buy and sell bitcoins using a brokerage. The alternative is to use the localbitcoins.com and meet someone in reallife for cash exchange. Which is all well and good but entails some additional risks which you conveniently ignore. Maybe some people are not comfortable with carrying large amounts of cash and meeting strangers in car parks for example.

Roonbox · 13-01-2014 8:16pm

srsly78 wrote: »

Sure in theory. But in reality most people buy and sell bitcoins using a brokerage. The alternative is to use the localbitcoins.com and meet someone in reallife for cash exchange. Which is all well and good but entails some additional risks which you conveniently ignore. Maybe some people are not comfortable with carrying large amounts of cash and meeting strangers in car parks for example.

I suspect there will be an ATM in Dublin within a couple of months

Suryavarman · 15-01-2014 7:45pm

Roonbox wrote: »

I suspect there will be an ATM in Dublin within a couple of months

A group called BitVendo are aiming to have one running by the end of the month.

alb · 15-01-2014 7:57pm

Suryavarman wrote: »

A group called BitVendo are aiming to have one running by the end of the month.

great news! I hadn't heard about this.

Worztron · 18-01-2014 10:36am

Has anyone here used these? Are they safe?

https://www.bitquick.co
http://www.belgacoin.com
http://www.bitcoin-services.co.uk/sms-to-bitcoin.php
http://www.btctrade.org/002new.html

inireland · 19-01-2014 4:23pm

do u hear any thing about joining group of people and try find free bitcoins using ur PC or laptop?

jamo2oo9 · 19-01-2014 5:02pm

inireland wrote: »

do u hear any thing about joining group of people and try find free bitcoins using ur PC or laptop?

You mean bitcoin mining?

nxbyveromdwjpg · 20-01-2014 9:16am

Worztron wrote: »

Has anyone here used these? Are they safe?

https://www.bitquick.co
http://www.belgacoin.com
http://www.bitcoin-services.co.uk/sms-to-bitcoin.php
http://www.btctrade.org/002new.html

Why not just stick to the bigger more reputable exchanges?

http://www.bitcoincharts.com/markets/currency/EUR.html

milltown · 20-01-2014 9:23am

Fun Fact:

MtGox was originally set up as a trading card swap site.
MtGox = Magic the Gathering online exchange.

PrzemoF · 20-01-2014 1:23pm

inireland wrote: »

do u hear any thing about joining group of people and try find free bitcoins using ur PC or laptop?

Forget about it unless you're ready to spend money on buying asic hardware that might never pay itself back (I'm waiting for someone to prove me wrong).

http://www.theregister.co.uk/2014/01/17/ten_bitcoin_miners/

FuzzyCraic · 21-01-2014 3:05pm

Hey guys,

I m a dutch belgian guy living in ireland.
I would like to buy some bitcoins...
I found a site where i can pay from my Dutch bankaccount.
The only problem is that i don t have a dutch bankaccount.
I ve been in ireland for about 7 years.

Is there anyone anware of options we have in ireland ?

Paypall and creditcards don t work to buy bitcoins

PrzemoF · 21-01-2014 3:38pm

If you can make an international transfer (SEPA) it should not matter where is your bank. Check i.e. bitcoin.de or search on the forum - there are some addresses recommended.

andrew · 21-01-2014 6:54pm

moved to investments and markets forum

FuzzyCraic · 24-01-2014 12:01pm

Thanks all for the replys

TheMilkyPirate · 14-02-2014 10:39pm

If I want to buy a very small amount lets say 0.2 of a bitcoin where can I buy this??

jamo2oo9 · 14-02-2014 11:08pm

Bitcoin has dropped in value massively in the past month! An average of 650 in middle of January and now its low of today is 265! In Euros on mt.gox exchange.

Anybody know what is causing the price of this to drop so much lately? I'm speculating it could be due to the lack of interest maybe

naughto · 14-02-2014 11:11pm

jamo2oo9 wrote: »

Bitcoin has dropped in value massively in the past month! An average of 650 in middle of January and now its low of today is 265! In Euros on mt.gox exchange.

Anybody know what is causing the price of this to drop so much lately? I'm speculating it could be due to the lack of interest maybe

did they stop people from making withdrawls or something to that nature

jamo2oo9 · 14-02-2014 11:25pm

naughto wrote: »

did they stop people from making withdrawls or something to that nature

When you say that, I think an exchange was banned in a large county. Not sure which and where? It sounds little familiar

zpehtsfd · 14-02-2014 11:30pm

I miss all the posts saying Bitcoin is the next Reserve currency and it's going to hit $400,000. Wonder where those posters went to.

TheMilkyPirate · 15-02-2014 12:44am

jamo2oo9 wrote: »

Bitcoin has dropped in value massively in the past month! An average of 650 in middle of January and now its low of today is 265! In Euros on mt.gox exchange.

Anybody know what is causing the price of this to drop so much lately? I'm speculating it could be due to the lack of interest maybe

Silk road was shut down lately, An illegal website on the deep web selling drugs, There's a lot more sites like this that deal only in bitcoin so that could be a factor in the value drop.

pH · 15-02-2014 12:47am

jamo2oo9 wrote: »

Bitcoin has dropped in value massively in the past month! An average of 650 in middle of January and now its low of today is 265! In Euros on mt.gox exchange.

Anybody know what is causing the price of this to drop so much lately? I'm speculating it could be due to the lack of interest maybe

Mt Gox stopped all bitcoin withdrawals a couple of days ago. Seems their buggy software got caught out by the transaction malleability problems ... so the price on Mt Gox currently represents the price to buy a useless MtGox bitcoin which stays on MtGox. There is intense speculation that MtGox lost a lot of bitcoins due to this, and may not have the bitcoins left to pay those they owe ... pure speculation but until Mtgox are allowing people access to their bitcoins again I'd not read anything into the MtGox price.

Real price on real exchanges is still up near €500

I miss all the posts saying Bitcoin is the next Reserve currency and it's going to hit $400,000. Wonder where those posters went to.

Just the opposite, this has been a shockingly bad week or 2 for bitcoin, the transaction malleability issues, MtGox rumours that it's broke, other exchanges stopping withdrawals, a huge DDOS attack on the network, some bad news from Russia regarding its legality and the so called "hacking" of silk road 2.0 (yea right) ... and yet price hasn't fallen that badly at all.

And yet credible people think that even at today's $800 value it represents an incredible investment opportunity.

http://www.wired.com/wiredenterprise/2014/01/chrisdixon/

Buying bitcoins

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