Question about Bitcoin

Originally posted by Juggernog

Originally posted by mayabong
Comparing bitcoin to PayPal is like comparing apples to rocks. PayPal deals with different currencies, bitcoin is a currency in itself.

Yea but its the same concept, you still have to link it to some form of currency, so its not a currency in itself.

Well there's lots of differences. For one paypal is centralized and bitcoin isn't. There isn't a 1800 number to call if you are having bitcoin problems. lol

Aren't all currencies linked to other currencies to get their value?

I'm a huge bitcoin fan by the way. I understand it can be a bitch to get your hands on some, but hopefully in the future when they are more spread out across the globe, you can just go on craigslist and get some. Once you understand it, you realize how genius it is, and the person that came up with it is anonymous.

Can someone just answer this?
Is bitcoin dependent on an external funding source or not?

Originally posted by Juggernog
Can someone just answer this?
Is bitcoin dependent on an external funding source or not?

Not sure what you mean by that.

Originally posted by Juggernog
Can someone just answer this?
Is bitcoin dependent on an external funding source or not?

You can buy bitcoins with cash at a 7-11, so if that's your definition of "external funding source" then yes, bitcoin requires an external funding source. (the exception is to mine for them, but that's not something you just do as it requires a significant investment of time, GPU hardware and electricity).

Are you in the U.S.?

Do you have an Android? If so, install BitcoinSpinner. Click "buy bitcoins" and fill out the form.

Or, from a Windows or Mac or iPad, etc, here's what you do:

1.) Get a wallet (free)

- www.instawallet.org...
(Bookmarket the URL it gives you just in case)

2.) Enter the order for how much of Bitcoins you wish to buy:

- www.BitInstant.com...
Choose "Pay To: bitcoin address" and paste the Bitcoin address from Instawallet.

(fees will take a little, so buy about 10% more than you need.)


3.) Take the receipt to the bank or location e.g., 7-11, Walmart, CVS, etc. and hand over the cash.

Less than an hour later you should have bitcoins in your Instawallet.

4.) When ordering your VPN, it will give you their bitcoin address. In Instawallet, paste that address and amount and click Send payment.

In about an hour or less they'll receive your payment.

5.) With whatever balance you have left, donate it, gamble, send it to a buddy (Coinapult to e-mail or Mobile), etc.

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Still not convinced?

You can get a free sample of bitcoins.

1.) Get your Instawallet
- www.Instawallet.org...

Or use the Instawallet app for Android.

2.) Visit the Faucet
- freebitcoins.appspot.com...

Enter the Bitcoin address from your Instawallet.

In about an hour or maybe more you'll have a balance in your Instawallet. It won't be enough to buy hardly anything with, but you can send it to someone else (Coinapult to their e-mail address or SMS).


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If you'ld like to know the ways to buy bitcoins:

- en.bitcoin.it...

[Edit: Fix the URL, Instwallet.org not .com]