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Last post Author Topic: Does anyone here use Bitcoins?  (Read 184983 times)

Renegade

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Re: Does anyone here use Bitcoins?
« Reply #50 on: November 05, 2012, 07:24:08 PM »
Also interesting, an article on a hitpiece on Bitcoin:

http://www.libertari...ool-ranking-website/

The video is just silly. Everything it describes can be said about paper money as well. Just a bunch of idiots.
Slow Down Music - Where I commit thought crimes...

Freedom is the right to be wrong, not the right to do wrong. - John Diefenbaker

Tinman57

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Re: Does anyone here use Bitcoins?
« Reply #51 on: November 06, 2012, 06:17:52 PM »
I'd love one of those - or two, frame them showing both sides.

I'll repeat: "where's the link?" (apparently there's been a few versions already released but I couldnt find these ones)

You can get them all over the place. Here are a few links:

http://www.ebay.com/...bitcoin+copper+round

The mint:
http://mjbmonetaryme...ls.co.uk/copper.html

http://copperrounds....s=1+Oz+Copper+Rounds
Goes to ==> http://www.ebay.com/...&vectorid=229466

http://www.preciousm...-1oz-roll-of-20.html

I have not purchased from any of those places, so I can't vouch for them, but they all seem ok.

Darn Renegade, you missed a perfect opportunity to use:
http://lmgtfy.com/?q...oin%2Bcopper%2Bround   ;D

Renegade

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Re: Does anyone here use Bitcoins?
« Reply #52 on: March 21, 2013, 11:04:53 PM »
Just to make people feel sick, if you'd have bought some bitcoins when this thread was started, you'd have 7.5x your investment.

Anyone else want to cry?
Slow Down Music - Where I commit thought crimes...

Freedom is the right to be wrong, not the right to do wrong. - John Diefenbaker

40hz

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Re: Does anyone here use Bitcoins?
« Reply #53 on: March 22, 2013, 08:32:44 AM »
^Out of curiosity - exactly where and how do you spend them? From what I've personally seen, there isn't much I'd be all that interested in I could use them for. At least so far. But I don't do much in the way of transactions I'd feel the need to stealth, so maybe I'm just not part of that demographic where 'buyer anonymity' seems to be the major selling point.

So I'm genuinely curious...just how usable for mainstream purposes are they as of right now?

Anyone else want to cry?

Yup.:P How about the people who got their accounts cleaned out in any one of several net heists successfully perpetrated on various Bitcoin exchanges? News like this or compilations like this don't exactly give me warm fuzzies...

How bitcoin users seem to imagine bitcoin exchanges.

Except even better!


What a real bitcoin exchange most likely looks like.

Not that there's anything wrong with it
backroom.jpg

.

@Ren - sorry. Couldn't resist. :P (Definitely have way too much free time on my hands these last two days.) ;) :) :Thmbsup:


TaoPhoenix

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Re: Does anyone here use Bitcoins?
« Reply #54 on: March 22, 2013, 10:49:02 AM »
^Out of curiosity - exactly where and how do you spend them? From what I've personally seen, there isn't much I'd be all that interested in I could use them for. At least so far. But I don't do much in the way of transactions I'd feel the need to stealth, so maybe I'm just not part of that demographic where 'buyer anonymity' seems to be the major selling point.

So I'm genuinely curious...just how usable for mainstream purposes are they as of right now?

Anyone else want to cry?

Yup.:P How about the people who got their accounts cleaned out in any one of several net heists successfully perpetrated on various Bitcoin exchanges? News like this or compilations like this don't exactly give me warm fuzzies...

How bitcoin users seem to imagine bitcoin exchanges.
http://www.youtube.c...ed&v=DwC6IFi6RuU
...
@Ren - sorry. Couldn't resist. :P (Definitely have way too much free time on my hands these last two days.) ;) :) :Thmbsup:

40 Hz is quotalicious, so I shall fold and spindle his post ruthlessly!

First: Are Bankers like the goblins in the Harry Potter snip?

Second: Does this describe how much time you have on your hands?
http://www.youtube.c.../watch?v=5XcKBmdfpWs

 :D

More seriously:
Bitcoins gets my vote for Top-25 most innovative / disruptive concepts this last decade. (A NEW currency!?) Yeah, I agree with the *current* flaws, but long haul, it's something that will either be standard old hat in 10 years or relegated to "only something terrorists use".

Renegade

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Re: Does anyone here use Bitcoins?
« Reply #55 on: March 22, 2013, 11:00:48 AM »
^Out of curiosity - exactly where and how do you spend them?

Lots of places, and in exactly the same way as anywhere else.

From what I've personally seen, there isn't much I'd be all that interested in I could use them for.

Really? ;)

At least so far. But I don't do much in the way of transactions I'd feel the need to stealth, so maybe I'm just not part of that demographic where 'buyer anonymity' seems to be the major selling point.

Ah yes... Now I understand your point. You want every merchant you deal with to keep track of every purchase.

How much milk do you buy?

What brand of toilet paper do you buy?

etc. etc.

Yes. It's a great thing to have zero privacy in your normal purchases. ;)

(In case you haven't noticed, this is a ball-busting post. :P )

So I'm genuinely curious...just how usable for mainstream purposes are they as of right now?

By "mainstream" you mean "tracked"? :P

There are many sources out there that accept BTC and many that ONLY accept BTC.

Who cares who is buying? If you're selling ACME rocket skates, do you really care who buys them as long as people buy? Is it important WHO buys them?

Well, I suppose in a totalitarian and dystopian world where everything is controlled... well... that's a Basement topic. ;)

Yup.:P How about the people who got their accounts cleaned out in any one of several net heists successfully perpetrated on various Bitcoin exchanges? News like this or compilations like this don't exactly give me warm fuzzies...


Yes. Let's please tally the amount of money stolen from people in BTC and the amount stolen in other currencies. Yes. Let's do that. ;) I have a sneaking suspicion that the amount of stolen USD only will dwarf any BTC thefts. But let's not confuse the topic of a currency with the degree to which money is protected. ;)

*** For those not willing to read critically, I just critiqued the security of money. i.e. If I rob you at gun point, I just steal your money. There is no difference when BTC is robbed/stolen. None. Zero. Nadda. This isn't up for debate or discussion. It's a simple matter of fact for anyone that actually understands the issues at hand there.

@Ren - sorry. Couldn't resist. :P (Definitely have way too much free time on my hands these last two days.) ;) :) :Thmbsup:

Hehehehe~! Me neither! :D

We have to have some fun aggressive banter at some point~! ;D

Oh, and BTW, I made around $300 in a few hours today for doing jack all other than buying some BTC. :P

Now, I may lose later, but I really doubt it. All indicators say that I've got a serious upside.
Slow Down Music - Where I commit thought crimes...

Freedom is the right to be wrong, not the right to do wrong. - John Diefenbaker

40hz

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Re: Does anyone here use Bitcoins?
« Reply #56 on: March 22, 2013, 11:38:35 AM »
@Ren - So ok. Next week I need to: buy some hardware for a client project, get a new set of flatwound bass strings (Daddario Chromes!), pay a few utility bills, pick up some groceries, buy another friggin' tank of gas, and pay my GF's car tax. Assuming I had $3000 in a Bitcoin account - could I use it for any of the above? That's what I mean by "for mainstream purposes."

My earlier question wasn't meant to be a challenge. I'm just seriously interested in where you can use botcoins for non-geek types of products and services. Because if I'm going to introduce an additional point of potential theft, fraud or failure into my financial life (to complement the risk I already have using my country's banking system and legal currency) then I'd like to at least be able to use it on a day to day basis. That's all.

Every time I ask where bitcoins are accepted I hear: Plenty of places! But when I ask specifically where, all I usually get are things like some web services (Wordpress), a few non-EBay auction sites, some 'gray area' file sharing services (Megaupload), a big bunch of online casinos, and some unabashedly illegal online "pharmacies."

So again - who in the "mainstream" is accepting bitcoins for "mainstream" purchases? :huh:

Oh, and BTW, I made around $300 in a few hours today for doing jack all other than buying some BTC. :P

BFD. I know attorneys and doctors who turn twice that in an hour and do even less to get it. :P

Quote
Now, I may lose later, but I really doubt it. All indicators say that I've got a serious upside.

That's where you come up short compared to them. They won't loose it later. And they have "serious upside" too.  :P :P

 ;D 8) :Thmbsup:

TaoPhoenix

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Re: Does anyone here use Bitcoins?
« Reply #57 on: March 22, 2013, 12:42:35 PM »
Update:

See this note about the US getting grumpy and applying Money Laundering laws against Bitcoin.

You didn't think they'd allow a brand new currency, did you?!

http://online.wsj.co...374611351125202.html


40hz

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Re: Does anyone here use Bitcoins?
« Reply #58 on: March 22, 2013, 12:50:32 PM »
Update:

See this note about the US getting grumpy and applying Money Laundering laws against Bitcoin.

You didn't think they'd allow a brand new currency, did you?!

http://online.wsj.co...374611351125202.html



The reaction was inevitable. The outcome is predictable.  :o

tomos

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Re: Does anyone here use Bitcoins?
« Reply #59 on: March 22, 2013, 01:15:28 PM »
^40, I'm not sure what you mean by "the outcome is predictable".
According to that article it's given bitcoin credibility:

Quote
The value of a bitcoin rose to more than $60 a unit from less than $49 on one exchange following the release of FinCen's new guidance—a move that Mr. Garzik attributed partly to a new level of certainty and legitimacy that federal recognition attaches to bitcoin transactions.


Re spending it:
why would anyone want to spend it when the price is inflating so much - which means of course that it's pretty useless as an active currency - but good as an investment (for the moment anyways).
Tom

wraith808

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Re: Does anyone here use Bitcoins?
« Reply #60 on: March 22, 2013, 01:57:14 PM »
An investment is only as good as the ways that you can capitalize on it.  Until then, it's speculation IMO.

40hz

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Re: Does anyone here use Bitcoins?
« Reply #61 on: March 22, 2013, 03:18:39 PM »
^40, I'm not sure what you mean by "the outcome is predictable".

It will either implode (likely), be outlawed and shut down (quite likely), or (much less likely) forced into the existing financial framework in much the same way that Paypal was as a vanilla payment service. What it will not be allowed to remain is an "investment opportunity." Or as a system with the potential to easily facilitate the transfer of funds for things deemed to be 'illegal.' Legally (or extra-legally if necessary) it simply won't be allowed to continue. Period.

Quote
According to that article it's given bitcoin credibility:

Quote
The value of a bitcoin rose to more than $60 a unit from less than $49 on one exchange following the release of FinCen's new guidance—a move that Mr. Garzik attributed partly to a new level of certainty and legitimacy that federal recognition attaches to bitcoin transactions.

I think it more accurate to characterize it as giving Bitcoin the spotlight rather than credibility. The simple fact its valuation is zooming up so rapidly is a positive indication (to me at any rate) that the arbitragers, always out to make a quick buck, have scented an opportunity (i.e. money + publicity + amateur investors) and are starting to move in on it. If I'm correct, bitcoins will continue their rapid rate climb for a few more months before it all tanks when the pros suddenly cash out en masse.

And lets not forget there is federal recognition - and then there's FEDERAL RECOGNITION - as in "subject of interest" in an government investigation or probe. In this case, the 'recognition' is that the feds see this as a potential problem just starting to show up on their SONAR and which they are now in the process of computing a "shooting solution" for.

Quote
Re spending it:
why would anyone want to spend it when the price is inflating so much -

They wouldn't. Which can cause major problems for an economy and therefor why speculation in domestic currency is illegal in many countries. Hording cash has negative consequences across the board in most instances.

Quote
which means of course that it's pretty useless as an active currency - but good as an investment (for the moment anyways).

Which is an interesting switch in much of the argument for having Bitcoins. Originally it was meant to be an alternative currency. Now, most of it's admirers seem to prefer to see it as on investment opportunity. However, what it is actually an investment in raises some interesting questions. There doesn't seem to be much of anything behind a bitcoin other than the cash originally paid - and a bunch of people somehow mutually agreeing it's magically worth more than that. Which then raises the question of how its value can be increasing so rapidly above the value of the hard money paid in to create it originally. How and where is there any value being added? By demand? Ok. But if so, demand for what? A demand for a higher value based on the demand it be...valued higher?

It's circular logic... :huh:

And if so, that's not investing. It's pure speculation. More along the lines of having the brass kahunas to raise on a busted flush in a poker game with the hope your opponent folds first. So if these bitcoin "investors" aren't very careful, this whole thing could easily turn into something much like a Ponzi scheme, with those first in (and first to cash out) being the big beneficiaries, while everybody else is left holding a bag full of worthless bits in some database.

pog.jpg

Dunno. This whole thing strikes me as being more like the brief US Pog fad a few years back then anything else. For awhile that was the big "in thing" with collectors touting the "incredible value" and rapid price appreciation of their collections. Then, once the kids started getting into, it the prices for "collectible" Pogs really took off. It wasn't long before Pog collectors even had their own magazine.

It took less than a year or so before people woke up and asked: "Why exactly did I spend $10 last week to buy this little round piece of printed cardboard?" That usually happened right about the time they tried to sell their collection and discovered it was suddenly worthless - which coincided very neatly with the fact that the little kiosk at their local shopping mall (which had been doing such a brisk trade selling Pogs the month before) was now gone...


« Last Edit: March 22, 2013, 03:40:52 PM by 40hz »

tomos

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Re: Does anyone here use Bitcoins?
« Reply #62 on: March 22, 2013, 05:05:46 PM »
wraith & 40 - thanks for calling me out on using the 'investment' term :up:
Yes, 'speculation' is correct.

I'm not a fan of bitcoin in any real way, but I'm deadly curious to see what does happen with it. I agree with lots of what you're saying 40. As I said above, as an active currency it's a fail. That could change if it survives.
But ironically, a lot of what you say about it applies to 'regular' money too (the 'circular logic'). In this day and age, that fact that they say the production of bitcoins will be limited is enough to get people excited - there's a lot of fear around about 'real' money production since banks have become less and less regulated and not held responsible for their cockups.
Tom

40hz

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Re: Does anyone here use Bitcoins?
« Reply #63 on: March 22, 2013, 05:29:36 PM »
But ironically, a lot of what you say about it applies to 'regular' money too (the 'circular logic').

It very much does. But people are used to it - and are more willing to tolerate the problem they're familiar with than take a chance on having to deal with a new one.

When the US redesigned it's currency not too long ago, the original idea was to use color and a completely new look. IMO, the mockups for some of the new bills were absolutely gorgeous.

Ten_New_Small.jpg

But they were all trashed and a design for somewhat ugly green bills that more closely resembled the previous design were chosen instead. Because the government worried that the American people wouldn't like them being so different. And then might possibly wonder why they were being changed at all - and maybe then start asking some potentially disruptive questions that could lead to them losing faith in their currency...

images.jpg

The solution? Don't rock the boat too hard. Put as many anti-counterfeiting features into the new design as possible while making it look as much like the old currency as possible. End of problem after some very minor griping on the part of the public.

This is the mindset Bitcoin is going to go up against if it wants to become a currency in its own right. Overcoming the memes that say: Only nations and governments can issue legitimate currency. Anything other than a national currency is a Mastercard. And anything 'new' is bad when it comes to money.
 ;) 8)

ewemoa

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Re: Does anyone here use Bitcoins?
« Reply #64 on: March 22, 2013, 06:14:33 PM »
I'm just seriously interested in where you can use botcoins for non-geek types of products and services.

Once we all start using botnets to do things, I think you have your answer ;)

Renegade

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Re: Does anyone here use Bitcoins?
« Reply #65 on: March 22, 2013, 11:39:48 PM »
@Ren - So ok. Next week I need to: buy some hardware for a client project, get a new set of flatwound bass strings (Daddario Chromes!), pay a few utility bills, pick up some groceries, buy another friggin' tank of gas, and pay my GF's car tax. Assuming I had $3000 in a Bitcoin account - could I use it for any of the above? That's what I mean by "for mainstream purposes."

My earlier question wasn't meant to be a challenge. I'm just seriously interested in where you can use botcoins for non-geek types of products and services. Because if I'm going to introduce an additional point of potential theft, fraud or failure into my financial life (to complement the risk I already have using my country's banking system and legal currency) then I'd like to at least be able to use it on a day to day basis. That's all.

Well, it isn't everywhere. Yet. But it is becoming more accepted all the time.

Places to use bitcoin? Well, yeah, mostly geeky stuff at the moment. But, there are others:

Buy gold & silver with bitcoin here: http://coinabul.com/

A LARGE list of places here: https://www.spendbitcoins.com/places/

A lot of geeky stuff there, but also some surprises. Guitar lessons, an architect, and others. Mostly small places, but that just shows that it is a grassroots uprising against the totalitarian control of fiat currencies by central banks.

Many places ONLY accept bitcoin. Those are often bitcoin related though, like ASIC hardware manufacturers, bitcoin mining companies, etc.

So, for the moment... nope. No gas, milk, or slurpees. But I dimly recall an article about bars in Spain taking bitcoin for beer and other libations. ;D

As for governments clamping down on it... well... it's a bit too late for that. It's P2P which pre-empts the possibility of the obsessive central control that authoritarian governments so crave. The power of the bitcoin is in the network. Pandora's box has been opened. There is no going back. This is the same thing as 3D printing an AR-15 lower receiver - the information is out there. It's too late. The cat is out of the bag. Game over. The control freaks lost.

Will they try to control it? Hell yes! Can they? No. TOR. VPNs. Strong encryption. P2P. Anonymous networks. Just some of the reasons that they will fail.

Mainstream purchases are still a ways away, but with the dark forces of the IMF, Angela Merkel, and their other central banking criminal friends trying to steal money from bank accounts in Cyprus... Well, they have exposed their intentions and permanently undermined faith in banking. It will only get worse. They will try again, and there will be runs on banks that spiral out of control.

Back in 2010 I thought about dumping some money into BTC. Had I have done that, sigh... I'd never work again... hind sight is 20/20. Oh well. It's still pretty much ground floor.


As for investment vs. speculation... I really don't care what term is used.

I think it more accurate to characterize it as giving Bitcoin the spotlight rather than credibility. The simple fact its valuation is zooming up so rapidly is a positive indication (to me at any rate) that the arbitragers, always out to make a quick buck, have scented an opportunity (i.e. money + publicity + amateur investors) and are starting to move in on it. If I'm correct, bitcoins will continue their rapid rate climb for a few more months before it all tanks when the pros suddenly cash out en masse.

There is always market manipulation. That's a given. Stocks/bonds/funds/commodities/equities/whatever - they are all manipulated.

But the price will continue to go up no matter what. Will there be retracements? Sure. But they will always rebound. This is a mathematical certainty.

This is an overlay of the price of BTC and the difficulty factor. As you can see, there is a very strong correlation. You can find those charts out there then go check yourself to see the correlation. Difficulty factor is constantly increasing, as is the price of BTC.

Price-difficulty-year.jpg

Now, the most recent spike has illustrated not a relationship to difficulty factor, but has illustrated accelerating adoption and faith in BTC. (It spiked with the Cyprus "haricut" announcement.)

So, we have 2 fundamental factors affecting the value of BTC:

1) Difficulty factor
2) Faith & adoption

Looking at the overlay before Cyprus, I initially thought that BTC was overvalued last October/November/December. However, I'm not so sure of that now. It looks more as though BTC has simply been undervalued. In other words, the difficulty factor is the minimum valuation factor for BTC, which it has pretty much followed to date, and that the market valuation has mostly relied on difficulty factor, but with accelerating adoption the difficulty factor will play less of a role as social factors take over. Difficulty factor will remain the baseline though, and the level that it will not fall through. i.e. Difficulty factor provides strong support, while skepticism or slow adoption provides the basic resistance.

The notion that just because market manipulators cash out or make money isn't really any kind of a valid argument against BTC (or anything) as the market simply continues. We've seen lots of market manipulation in the past, but it simply is a part of the market and you can still look at technical analysis with a good degree of faith. i.e. Market manipulation doesn't preclude the opportunity for other people to hop on board and make money. You simply need to be aware of what is going on and plan ahead.

If BTC drops by half, I'm not really worried as the difficulty factor will still kick in and push it up. The introduction of ASIC mining hardware will accelerate the price of BTC as well.

Slow Down Music - Where I commit thought crimes...

Freedom is the right to be wrong, not the right to do wrong. - John Diefenbaker

40hz

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Re: Does anyone here use Bitcoins?
« Reply #66 on: March 22, 2013, 11:50:23 PM »
But the price will continue to go up no matter what. Will there be retracements? Sure. But they will always rebound. This is a mathematical certainty.

Sounds more like a declaration of religious faith rather than a mathematical proof to me...but ok. If you say so. ;D

Renegade

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Re: Does anyone here use Bitcoins?
« Reply #67 on: March 23, 2013, 12:05:30 AM »
But the price will continue to go up no matter what. Will there be retracements? Sure. But they will always rebound. This is a mathematical certainty.

Sounds more like a declaration of religious faith rather than a mathematical proof to me...but ok. If you say so. ;D

Just look at the math. Difficulty factor increases. Check the chart. It certainly looks like difficulty factor is at a very minimum strongly correlated with BTC value.

https://en.bitcoin.it/wiki/Difficulty

http://www.thinlined...in-mining-explained/

http://bitcoin.sipa.be/

Get a bitcoin miner and join a pool, e.g. BTC Guild. You'll see just how slow mining is on desktop hardware (CPU & GPU). The new ASIC hardware out there is incredibly fast. Orders of magnitude faster. And... You CANNOT buy the stuff. It's all sold out & pre-ordered. Waits for ASIC hardware are worse than for the Raspberry Pi.

Is it a gamble? Everything is a gamble! Nothing in life is certain. The question isn't whether or not it is a gamble, but whether or not it is a good one. With so many people so heavily invested in BTC, I think it's here to stay.

I'm not a fan of bitcoin in any real way, but I'm deadly curious to see what does happen with it.

I sat on the fence for a long time. I'm on board now.

Slow Down Music - Where I commit thought crimes...

Freedom is the right to be wrong, not the right to do wrong. - John Diefenbaker

Renegade

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Re: Does anyone here use Bitcoins?
« Reply #68 on: March 24, 2013, 07:04:08 AM »
Another list of places to spend BTC:

http://bitcoinmagazi...spend-your-bitcoins/

Coffee, music, clothing, etc.
Slow Down Music - Where I commit thought crimes...

Freedom is the right to be wrong, not the right to do wrong. - John Diefenbaker

Renegade

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Re: Does anyone here use Bitcoins?
« Reply #69 on: March 25, 2013, 10:52:28 AM »
BFD. I know attorneys and doctors who turn twice that in an hour and do even less to get it. :P

Well, so far I'm up what your doctors and sharks turn in an hour and I've done nothing since. :D

Do you really care if it is a pump & dump if you can make a buck? That's just the sick system that we live in. You either make your living slaving for the system or working inside of it. I need to eat, so I'll take it where I can get it. I don't need to be proud about it, but I can certainly put food on the table and smile. 

I'll make more on this. We'll even have cake~! ;D ;P
Slow Down Music - Where I commit thought crimes...

Freedom is the right to be wrong, not the right to do wrong. - John Diefenbaker

wraith808

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Re: Does anyone here use Bitcoins?
« Reply #70 on: March 25, 2013, 01:25:24 PM »
so... for the uninitiated, how do you get started?

40hz

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Re: Does anyone here use Bitcoins?
« Reply #71 on: March 25, 2013, 02:53:57 PM »
Do you really care if it is a pump & dump if you can make a buck?

Oddly enough, yes I do. And I've paid dearly for holding that position over the years, so I don't offer it to anyone by way of advice.

I don't need to be proud about it, but I can certainly put food on the table and smile.

Makes two of us! ;D  :Thmbsup: And to your point, we all make it as best we can (nor not) within the bounds of our own "convictions' (as in imaginings, self-delusional thinking, personal hangups or whatever) so regardless of how it's done, there's seldom cause for pride. We do what we do for our own reasons.

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40hz

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Re: Does anyone here use Bitcoins?
« Reply #72 on: March 25, 2013, 03:02:43 PM »
so... for the uninitiated, how do you get started?

Yeah really! :Thmbsup:

I'd dearly appreciate having somebody I respect and trust (who is actually doing bitcoins) give a little informal presentation on the mechanics of getting into it. I did some quick scanning and it seems to be a bit confusing. Ren-man, any chance of you doing us up a 5-15 on it?
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Renegade

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Re: Does anyone here use Bitcoins?
« Reply #73 on: March 25, 2013, 06:08:41 PM »
To get started, there are a couple things to understand first.

BITCOIN TRANSACTIONS ARE IRREVERSIBLE. YOU CANNOT DO A "CHARGEBACK" OR GET A "REFUND".

This makes bitcoin (BTC is the symbol) very much like physical currency. Once you give it to someone, you've given it to them. Done. Once the pot is swept off the poker table, it's gone to whoever sweeps it up.

This has a strong implication in that you CANNOT buy BTC with a credit card because you can reverse a credit card transaction.

So... to get started you need to get an account at a bitcoin exchange. Once you have that done, follow their instructions on how to send money, e.g. a wire transfer.

When you have completed the wire transfer, you simply buy BTC like you would with any forex account or stock/trading account.

I wouldn't worry too much about the price that you get BTC at though. It's going up and there will be corrections. This can be very stressful if you sit there at watch the market all day long. Don't do that unless you can handle it. e.g. You might buy BTC at USD $72, see it rise to $75 as you jump for joy, then drop to $68 as you head to the bathroom to vomit, and then rise again only to see the process repeated.

You cannot predict the future, so don't pretend that you can and stress yourself out. The "if only I had..." will kill you.

I know this from personal experience trading and literally getting nauseous and dizzy.

I'll continue in a bit... have to jet for now.
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wraith808

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Re: Does anyone here use Bitcoins?
« Reply #74 on: March 25, 2013, 06:36:27 PM »