Investing in Bit Coins

[BareBacked]

What is the best way to get in?

[2013]

you gotta be straight

[Penny24Seven]

go back in time a year from now and buy them

[CAHEK]

Investing in Virtual Money ?

[Chris]

Originally Posted by Brian837

go back in time a year from now and buy them

why a year ago? what was it last week this time? 50?

if you got in when namecheap announced you've doubled your money.


easiest way is to fund a mtgox account and buy that way but mtgox verification que is like 8,000 deep

[- Jesus Christ -]

If there was an easy way to get in the price would be stupid high right now. Mt. Gox has a verification backlog of over 4000 and you'd have to use some kind of script to hammer coinbase's API if you went that route. Even then you are limited to 10 Coins a day.

Also... hello bitcoin haters. You're gonna feel REALLY fucking dumb in the next 10 years.

[BareBacked]

Originally Posted by Chris

why a year ago? what was it last week this time? 50?

if you got in when namecheap announced you've doubled your money.


easiest way is to fund a mtgox account and buy that way but mtgox verification que is like 8,000 deep

So there is no way I can just buy it online today ?

[AdultPornMasta]

Originally Posted by BareBacked

What is the best way to get in?

Buy a Jalpeno and start mining.

[seeandsee]

Ok price almost doubled now, who sold it all and made 100% ROI in few weeks?

[CYF]

Originally Posted by BareBacked

So there is no way I can just buy it online today ?

You can buy anytime you want from another person.

[AllAboutCams]

Easy but them on ebay know when you get your account approved transfer them

[Dirty F]

Funny how the same haters are in all the Bitcoin threads.
Must suck to see people double their money in 2 weeks time

[Chris]

Originally Posted by BareBacked

So there is no way I can just buy it online today ?

no real way to instantly buy with a credit card or anything online right now

unless you find someone who takes paypal

best bet is going to google and find some bitcoin forums or reddit.com/r/bitcoin and post saying wanting to buy bitcoin for paypal
but you will pay a premium

[AdultPornMasta]

If you are buying Bitcoins, you are doin' it wrong.

[Dirty F]

Originally Posted by Chris

no real way to instantly buy with a credit card or anything online right now

unless you find someone who takes paypal

best bet is going to google and find some bitcoin forums or reddit.com/r/bitcoin and post saying wanting to buy bitcoin for paypal
but you will pay a premium

If i can buy them online on a Dutch site instantly then there must be options like that for other countries as well right?

[Chris]

Originally Posted by Dirty F

If i can buy them online on a Dutch site instantly then there must be options like that for other countries as well right?

I personally am not looking but everyone ive seen that has been looking for a site to use just a straight credit card to buy coin has not found one yet

edit: ive seen sites like http://www.buybitcoin.com/Bitcoins--...rency_p_8.html but the price they list is actually lower than the cost of BTC .. doesnt give me alot of faith in the site actually delivering

[Dirty F]

And this? https://bitinstant.com/
Just found it. Haven't read the details though.

[AdultPornMasta]

http://howdoyoubuybitcoins.com/in/united-states/

You should be mining though....................................

[Chris]

Originally Posted by Dirty F

And this? https://bitinstant.com/
Just found it. Haven't read the details though.

No you have to use one of the approved services that you have to get verified with aswell and then do a bank transfer or find one that does a cc transfer and then transfer to mtgox or one of the others

Originally Posted by AdultPornMasta

http://howdoyoubuybitcoins.com/in/united-states/

You should be mining though....................................

Not everyone wants to spend a grand or so on a mining machine to mine a few dollars a day

[AdultPornMasta]

Originally Posted by Chris

No you have to use one of the approved services that you have to get verified with aswell and then do a bank transfer or find one that does a cc transfer and then transfer to mtgox or one of the others



Not everyone wants to spend a grand or so on a mining machine to mine a few dollars a day

You about a numbskull.

Do your homework.

[Chris]

Originally Posted by AdultPornMasta

You about a numbskull.

Do your homework.

you figured me out ;/

tell me why a random guy who wants to buy a few coins should just buy a mining rig rather than just buy the coin outright?

If i bought $500 worth of coin last week at 50$ each i would of had 10 coins. Today those 10 coins are worth 890.... i would not of had to "mine" anything. i would of not had to buy a computer. I would of not had to use up electricity

instead of calling me a "numbskull" educate me ...thats what I'm here for...

[Konda]

Originally Posted by Chris

everyone ive seen that has been looking for a site to use just a straight credit card to buy coin has not found one yet

You usually can't buy BitCoins with creditcards, it's too risky, because if the card was stolen or the user does a chargeback there is no way to get the funds back.
So no one wants to take a risk. Their might be some that are willing to take the risk, but the will charge huge fees and usually don't last long.

The easiest it to just do a bank transfer.

[NiXXiN]

best and easiest way is make a mtgox account, also join freenode and join some of the bitcoin rooms, they sell in there and they can be verified as legit sellers with a selling history. i buy mine privately and sell mine on mtgox.

[NiXXiN]

dont buy an avalon or butterfly labs mining rigs, once they start to roll them out its going to make mining them insanly diffilcult to get ahold of any blocks to mine. just buy a shitload in one day and sell it in 2 days, keep doing that.

[dyna mo]

in the u.s., absolutely follow Chris's advices in this thread-

every transaction is done at mtgox.

and also make sure you move your purchases into a safe offline wallet with all security codes written down and stored in a safe way.

[mayabong]

Originally Posted by dyna mo

in the u.s., absolutely follow Chris's advices in this thread-

every transaction is done at mtgox.

and also make sure you move your purchases into a safe offline wallet with all security codes written down and stored in a safe way.

If you are in the US, try coinbase. You link your bank account and they take it out. You dont get the coins for a few days but you get at the price you ordered them for.

You can also try Bitfloor where you deposit cash into a BOA branch.

You can also try http://localbitcoins.com

[Deputy Chief Command]

Originally Posted by - Jesus Christ -

Also... hello bitcoin haters. You're gonna feel REALLY fucking dumb in the next 10 years.

I think it is a risky investment. The way the gov. works they want a piece of everything. They are like the mafia. If bitcoin is to really blow up and become huge the gov will need to be awarded a piece of the business

If the gov can't get this piece they will make it illegal. Thats how it works

[dyna mo]

i would also take advice from mayabong on this as valid.

:-)

this thread addressed my only rules when i decided to start playing with bitcoins

1. every transaction will go through mtgox, it has vc backing and backed by silicon valley bank, in part, giving it legitimacy in my mind, translation, comfort.

2. always always always clear bitcoins out of the online account. always.

3. have fun!

[mayabong]

Originally Posted by dyna mo

i would also take advice from mayabong on this as valid.

:-)

this thread addressed my only rules when i decided to start playing with bitcoins

1. every transaction will go through mtgox, it has vc backing and backed by silicon valley bank, in part, giving it legitimacy in my mind, translation, comfort.

2. always always always clear bitcoins out of the online account. always.

3. have fun!

Yes never leave your bitcoins with a 3rd party. I learned that the hard way when coinbase had a glitch last week. Never lost any coins but couldn't use them for 5 days.

Blockchain.info is supposedly pretty secure as long as you back up your wallet from there (its easy). If anyone ever hacked into blockchain.info all they would see is an encrypted wallet and wont be able to access your bitcoins

[Dirty F]

The site where i buy my coins ran out!

[Emil]

Originally Posted by CAHEK

Investing in Virtual Money ?

Most currencies are virtual, but you're too stupid to realize that.

[DWB]

Originally Posted by Emil

Most currencies are virtual, but you're too stupid to realize that.

They are fiat, which if you want to split hairs could mean the same thing, but saying "virtual" it usually means online. To go a step further, using the USD for example, it is even worse than fiat because it is actually debt. So people who save USD are essentially saving IOU notes. Nothing more. USD savers are losers, literally.

At least bitcoin isn't debt. It may be fiat, but if they can ever work out the illegal use aspect of it so govs and banks won't shut it down, as silly as it sounds, putting money in bitcoins makes more sense than saving US dollars, providing you still have internet access in the morning and a hacker didn't wipe you out while you are sleeping. Short term bitcoin will make a lot of money, no doubt about it. Long term, I just don't see how it will last, because the fact it supposedly is not regulated (even though there will only ever be 21 million of them), is the exact reason banks and governments may want to dispose of it. Looking back through history, anything they can not tax or control, they make illegal.

If the owner of bitcoin had any real long term goals, he would be getting some heavy duty lobbyist in Washington right now to help ensure the survival of it. Otherwise it's a coin toss.

[dyna mo]

Originally Posted by DWB

They are fiat, which if you want to split hairs could mean the same thing, but saying "virtual" it usually means online. To go a step further, using the USD for example, it is even worse than fiat because it is actually debt. So people who save USD are essentially saving IOU notes. Nothing more. USD savers are losers, literally.

At least bitcoin isn't debt. It may be fiat, but if they can ever work out the illegal use aspect of it so govs and banks won't shut it down, as silly as it sounds, putting money in bitcoins makes more sense than saving US dollars, providing you still have internet access in the morning and a hacker didn't wipe you out while you are sleeping. Short term bitcoin will make a lot of money, no doubt about it. Long term, I just don't see how it will last, because the fact it supposedly is not regulated (even though there will only ever be 21 million of them), is the exact reason banks and governments may want to dispose of it. Looking back through history, anything they can not tax or control, they make illegal.

If the owner of bitcoin had any real long term goals, he would be getting some heavy duty lobbyist in Washington right now to help ensure the survival of it. Otherwise it's a coin toss.

buying debt is safer than buying equity. always has been. the bond market.

[DWB]

Originally Posted by dyna mo

buying debt is safer than buying equity. always has been. the bond market.

Government bonds / Tbills are for sure better, no doubt about it! I'm talking about USD vs Bitcoin long term and savings. Of course I'm also hypothetically speaking as if bitcoin makes it long term, which I personally don't think it will.

[dyna mo]

oh i see, you mentioned "saving usd" which i thought to mean as buying savings bonds/buying usd.

[- Jesus Christ -]

[Penny24Seven]

im no hater. I have many from a long time ago, I just think they are going to crash sooner or later. I'm holding till 400 unless I hear different

[marlboroack]

A lot of hidden bitcoin sellers burred deep down within' the internet. Download the browser Tor and do some searches on black market shit.. You'll find a lot of people w bitcoins there. If you buy enough I'm sure they will open a Paxum account.

[mayabong]

Originally Posted by DWB

They are fiat, which if you want to split hairs could mean the same thing, but saying "virtual" it usually means online. To go a step further, using the USD for example, it is even worse than fiat because it is actually debt. So people who save USD are essentially saving IOU notes. Nothing more. USD savers are losers, literally.

At least bitcoin isn't debt. It may be fiat, but if they can ever work out the illegal use aspect of it so govs and banks won't shut it down, as silly as it sounds, putting money in bitcoins makes more sense than saving US dollars, providing you still have internet access in the morning and a hacker didn't wipe you out while you are sleeping. Short term bitcoin will make a lot of money, no doubt about it. Long term, I just don't see how it will last, because the fact it supposedly is not regulated (even though there will only ever be 21 million of them), is the exact reason banks and governments may want to dispose of it. Looking back through history, anything they can not tax or control, they make illegal.

If the owner of bitcoin had any real long term goals, he would be getting some heavy duty lobbyist in Washington right now to help ensure the survival of it. Otherwise it's a coin toss.

There is no bitcoin owner

[Dirty F]

Originally Posted by Brian837

im no hater. I have many from a long time ago, I just think they are going to crash sooner or later. I'm holding till 400 unless I hear different

If you have many already then why did you say you would buy 10k in coins to see what they will do? Doesn't make much sense eh?

[Dirty F]

Originally Posted by DWB

They are fiat, which if you want to split hairs could mean the same thing, but saying "virtual" it usually means online. To go a step further, using the USD for example, it is even worse than fiat because it is actually debt. So people who save USD are essentially saving IOU notes. Nothing more. USD savers are losers, literally.

At least bitcoin isn't debt. It may be fiat, but if they can ever work out the illegal use aspect of it so govs and banks won't shut it down, as silly as it sounds, putting money in bitcoins makes more sense than saving US dollars, providing you still have internet access in the morning and a hacker didn't wipe you out while you are sleeping. Short term bitcoin will make a lot of money, no doubt about it. Long term, I just don't see how it will last, because the fact it supposedly is not regulated (even though there will only ever be 21 million of them), is the exact reason banks and governments may want to dispose of it. Looking back through history, anything they can not tax or control, they make illegal.

If the owner of bitcoin had any real long term goals, he would be getting some heavy duty lobbyist in Washington right now to help ensure the survival of it. Otherwise it's a coin toss.

The fact that you think there is an owner tells me you know absolutely nothing about Bitcoins and are talking out of your ass. Because if you read about it for 2 mins you would know there is no owner.

[jscott]

Coinbase is terrible lately, http://www.talkbitcoins.com/talk-bit...-purchases/60/
Can't even buy anymore

[DWB]

Originally Posted by mayabong

There is no bitcoin owner

Originally Posted by Dirty F

The fact that you think there is an owner tells me you know absolutely nothing about Bitcoins and are talking out of your ass. Because if you read about it for 2 mins you would know there is no owner.

It doesn't matter if someone doesn't "own it." Poor choice of words on my end. It needs to be represented properly or the government will eventually make a move on it. If history teaches you nothing else, it should teach you that.

If that means the collective group of bitcoin exchangers or simply mtgox itself, someone needs to try make sure the government doesn't turn on it, and having a voice in Washington is simply how shit gets done when having to deal with the US government. You can have a long term cyber currency that is useful, like how the tobacco industry does with smoking even though it has been proven to cause cancer, or you can stick your head in the sand and hope nothing bad will ever come to it and lose it all when it does. I personally don't care what happens to BTC, I'm just stating some simple and obvious facts.

[BareBacked]

I want to buy $1000 per day as long as its going up and sell X per day

How can I do it?

[mayabong]

Originally Posted by DWB

It doesn't matter if someone doesn't "own it." Poor choice of words on my end. It needs to be represented properly or the government will eventually make a move on it. If history teaches you nothing else, it should teach you that.

If that means the collective group of bitcoin exchangers or simply mtgox itself, someone needs to try make sure the government doesn't turn on it, and having a voice in Washington is simply how shit gets done when having to deal with the US government. You can have a long term cyber currency that is useful, like how the tobacco industry does with smoking even though it has been proven to cause cancer, or you can stick your head in the sand and hope nothing bad will ever come to it and lose it all when it does. I personally don't care what happens to BTC, I'm just stating some simple and obvious facts.

The only one I know that would support it in the Senate is Rand Paul. He is for competing currencies.

[Caligari]

invest in bitcoin domains

i'm selling bitcoinvideos.com and bitcoinvod.com

pm me for info

[MikeRoth]

Invest in ASIC miners and hope bitcoin price stays high. It will take a few months to break even on the miners but you should be making a steady profit from there. GPU mining will cease to be profitable once ASIC miners flood the market.

[DWB]

Originally Posted by mayabong

The only one I know that would support it in the Senate is Rand Paul. He is for competing currencies.

It's all about lobbyist. Money makes Washington move.

There should be competing currency even if it would be difficult to maintain. We should all have the right to choose our currency. But that is exactly why some balls need to be cuddled in Washington because it is a competing currency and the Federal Reserve and government doesn't allow that.

Using mtgox for example, they have bank accounts somewhere as they trade dollars for BTC. Those bank accounts can be frozen in a blink of an eye, as can any other exchanger. I would think they would want to do everything possible to make sure that doesn't happen, and since it is a competing currency, and it is being used openly for illegal goods, the odds are currently not in their favor.

Anyway, good luck with it. Hope you make a bunch of money. I'm not getting involved but it's interesting to watch.

[dyna mo]

Originally Posted by MikeRoth

Invest in ASIC miners and hope bitcoin price stays high. It will take a few months to break even on the miners but you should be making a steady profit from there. GPU mining will cease to be profitable once ASIC miners flood the market.

how many rigs would you say you need to break even in 3 months? based on the 1st batch of avalon rigs and butterfly rigs are out now and batch 2 *i think* is delivering asap, and batch 3 is the final batch, as i understand that, delivering, what, in 6 more month?.

[DWB]

Originally Posted by MikeRoth

Invest in ASIC miners and hope bitcoin price stays high. It will take a few months to break even on the miners but you should be making a steady profit from there. GPU mining will cease to be profitable once ASIC miners flood the market.

I've seen some crazy set ups on Youtube but never seen any real numbers from anyone. On average, how many btc does the average miner mine per 24 hours?