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How to convert USD to Bitcoins
Posted on 4/2/13 at 7:39 pm
Posted on 4/2/13 at 7:39 pm
And what can I buy after conversion? I think the house of cards collapses in the next 36 months and want to squirrel some capital away in BC...
Edit: just saw that 116 USD equals 1 BC
Edit: just saw that 116 USD equals 1 BC
This post was edited on 4/2/13 at 7:42 pm
4
Posted on 4/2/13 at 7:48 pm to DriveByBBQ
36 months huh? Invest in water, a gun, and some soup. And a helmet, because you should wear a frickin helmet.
Posted on 4/2/13 at 7:50 pm to Vols&Shaft83
What kind of helmet?
Posted on 4/2/13 at 7:54 pm to DriveByBBQ
Tin Foil
Posted on 4/2/13 at 7:55 pm to DriveByBBQ
quote:
How to convert USD to Bitcoins
Coinbase.com is probably the easiest. It links to a bank account and debits it via ACH for every purchase but takes approx. 4 business days to get your bitcoins. The price is locked in at the time you make the purchase though, i.e. you purchase 1 bitcoin today for $116. They will begin the debit process. In 4 days you'll have your $116 bitcoin, even if the current price is $120.
They also offer an option to purchase at the bitcoin price after your ACH clears. It all depends on what you want to do.
ETA: Coinbase is going through some growing pains and are often "sold out" of bitcoins, which is why they recently introduced option #2 that I mentioned above.
There is also localbitcoins.com which will allow you to meet up with someone locally to purchase them. I have never used this service and can't really vouch for it.
This post was edited on 4/2/13 at 7:57 pm
Posted on 4/2/13 at 8:08 pm to WikiTiger
quote:
WikiTiger sees "Bitcoin" in thread title
Posted on 4/2/13 at 9:13 pm to Vols&Shaft83
you missed the boat bro, bitcoins were $40 a month ago, im posting on tigerdroppings while lounging on my new yacht i bought after i sold my bitcoins for a 300% profit in 1 month baby!
Posted on 4/2/13 at 9:29 pm to DriveByBBQ
PayPal all the money you want converted to me @ gmail.com
You'll get the best returns you can get on bit coins that way
You'll get the best returns you can get on bit coins that way
Posted on 4/2/13 at 9:31 pm to WikiTiger
So, if I met up with you and purchased some bitcoins, what would I expect to get?
Again, not a flame question as I can respect your dedication.
Again, not a flame question as I can respect your dedication.
Posted on 4/2/13 at 9:33 pm to OnTheBrink
well if you met up with me you'd have traveled very far because I don't live anywhere near the southeastern US
Posted on 4/2/13 at 9:37 pm to WikiTiger
Ok, well, if I met up with someone in the Southeast, or decided to venture to where you are and meet and purchase some bitcoins, what would I get in return after I paid you?
Honest question and not a flame post.
Honest question and not a flame post.
Posted on 4/2/13 at 9:42 pm to DriveByBBQ
another stupid bitcoin thread. 
Posted on 4/2/13 at 10:00 pm to OnTheBrink
we would both likely bring a laptop or phone and go someplace with internet access. you'd put the cash on the table. I'd send the bitcoins from my computer. you'd see them arrive on your computer. after a confirmation or two, I'd take the cash and leave
fwiw, localbitcoins.com has a built in escrow service that increases security
fwiw, localbitcoins.com has a built in escrow service that increases security
Posted on 4/2/13 at 10:16 pm to WikiTiger
quote:Wasn't one of the advantages of bitcoins the supposed lack of government regulation? Localbitcoins.com as a third party intermediary has an obligation to comply with anti-money laundering laws, and it is subject to regulation by the government. Your admission that a regulated transaction is a more secure transaction is more than just a little hypocritical. It is a complete repudiation of one of the advantages you are claiming for bitcoins.
fwiw, localbitcoins.com has a built in escrow service that increases security
Posted on 4/3/13 at 1:49 am to Poodlebrain
quote:
Your admission that a regulated transaction is a more secure transaction is more than just a little hypocritical. It is a complete repudiation of one of the advantages you are claiming for bitcoins.
To be fair I don't think Wiki or anyone else claims fraud is impossible with bitcoins. This "escrow" is simply a paid service.
I will note though that in order for a bitcoin ecosystem to be fully viable these sorts of mechanisms must exist whether provided for by a government or by private entities.
Posted on 4/3/13 at 5:39 am to foshizzle
quote:Yes, it will be necessary for there to be some sort of referee/enforcement mechanism for the public confidence necessary for universal acceptance of bitcoins as a medium of exchange. The U.S. government announced just last week that third parties performing these services are subject to government regulation. Thus, bitcoins will be relying on governments to provide the necessary security for universal acceptance. And that defeats one of the claimed main advantages of bitcoins.
I will note though that in order for a bitcoin ecosystem to be fully viable these sorts of mechanisms must exist whether provided for by a government or by private entities.
I have nothing against bitcoins as a conceptual system. My beef is that in practice bitcoins do not perform as conceived. The real world imposes limitations that will make bitcoins almost indistinguishable from any currency issued by a government.
Posted on 4/3/13 at 12:12 pm to Poodlebrain
Depends on ones knowledge of computers, there are plenty of ways to make it anon but its not easy for the everyday person.
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