How to convert USD to Bitcoins | TigerDroppings.com
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DriveByBBQ
USA Fan
Willard's Garage
Member since Jan 2011
4608 posts

How to convert USD to Bitcoins

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
This post was edited on 4/2 at 7:42 pm



Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
26145 posts

re: How to convert USD to Bitcoins
36 months huh? Invest in water, a gun, and some soup. And a helmet, because you should wear a frickin helmet.


DriveByBBQ
USA Fan
Willard's Garage
Member since Jan 2011
4608 posts

re: How to convert USD to Bitcoins
What kind of helmet?


Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
26145 posts

re: How to convert USD to Bitcoins
Tin Foil


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: How to convert USD to Bitcoins
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 at 7:57 pm


Vols&Shaft83
Tennessee Fan
Throbbing Member
Member since Dec 2012
26145 posts

re: How to convert USD to Bitcoins


ThaBigFella
LSU Fan
baton rouge
Member since Apr 2006
2043 posts

re: How to convert USD to Bitcoins
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!


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BACONisMEATcandy
LSU Fan
Delta, Amex, & Über Threads
Member since Dec 2007
42933 posts

re: How to convert USD to Bitcoins
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


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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
4561 posts

re: How to convert USD to Bitcoins
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.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: How to convert USD to Bitcoins
well if you met up with me you'd have traveled very far because I don't live anywhere near the southeastern US


OnTheBrink
Alabama Fan
TN
Member since Mar 2012
4561 posts

re: How to convert USD to Bitcoins
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.


Fat Bastard
LA-Lafayette Fan
Paradise
Member since Mar 2009
18864 posts

re: How to convert USD to Bitcoins
another stupid bitcoin thread.


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: How to convert USD to Bitcoins
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


Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
17185 posts

re: How to convert USD to Bitcoins
quote:

fwiw, localbitcoins.com has a built in escrow service that increases security
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.


foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
31712 posts

re: How to convert USD to Bitcoins
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.


Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
17185 posts

re: How to convert USD to Bitcoins
quote:

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.

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 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.


lsu777
McNeese State Fan
westlake
Member since Jan 2004
6478 posts

re: How to convert USD to Bitcoins
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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