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Who buys Bitcoin ?

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posted on May, 22 2017 @ 12:16 AM
a reply to: neo96
Cryptocurrency is nothing I will dabble in. Maybe my kids will transact with it, but I prefer to just stick to what I have in my physical possession. Can't do # with crypto $$ when power is out, just like cash in a bank. All my money dearest shall stay near me. My precious ....
edit on 5-22-2017 by worldstarcountry because: (no reason given)

posted on May, 22 2017 @ 12:17 AM
a reply to: neo96

If you just want to buy some BTC to hold onto, Coinbase. I'd recommend ETH myself (you can also purchase ETH there as well as LTC). You can link to your bank/cc and purchase any of the three instantly. You can also sell them instantly and withdraw your USD back to your bank account.

It says 3-5 days for withdraw but in my experience it's more like 1-2 business days.

Smart money seems to be on ETH. They've got a lot of big names in their alliance.

posted on May, 22 2017 @ 12:37 AM
a reply to: theantediluvian

If you just want to buy some BTC to hold onto, Coinbase. I'd recommend ETH myself (you can also purchase ETH there as well as LTC).

Yeah I know.

Wasn't going to put all my eggs in one basket as they say.


posted on May, 22 2017 @ 12:52 AM
Diversify is key as you have already mentioned. I would not hold LTC, trade it buy low sell high sure, but if you want to invest and forget. Eth and Stratis. Stratis still has 10x in it. Just my opinion. Eth - who knows. Something will overtake bitcoin eventually. XRP is one that the banks themselves are positioning themselves in too.

Time for Coinbase shouldnt be more than a week. You will need proof of identity and address is all. Proof you own an associated card or bank account. Can submit pictures of all the above online.

posted on May, 22 2017 @ 01:08 AM
a reply to: neo96

It's alright to be honest.
You link your bank account to it and it buys on the spot.
Verification process is rigorous as they use the authy app for you to log in but at least i know my digital currency is safe.
If you wish to trade more than $1000 at one time then you will have to upload photo i.d. and take a picture of your face which to be honest with i am struggling to but then again i am based in the Philippines which means the internet speed is like dial up AOL and it throws out dodgy IP addresses which means i am always verifying i'm not a f@ck!ng Robot ☹☹☹

posted on May, 22 2017 @ 01:11 AM
a reply to: the owlbear

I would send bitcoin to my unique Coinbase or btc wallet address. I would then use Coinbase or to instantly sell btc for USD the current usd/btc exchange rate. Those sites are also an exchange so they can be used to trade back n forth as well.

Then i would choose to withdraw my USD to my bank account or to a debit card. Funds in USD would hit my checking account within 24/48 hours. Could then withdraw physical cash from my bank.

Now just talking turning bitcoin into US dollars fiat currency on a debit card issued by your bank? Even easier. Instantly through coinbase or with 0% fee on the latter. There are also bitpay debit cards. You have a btc address associated with your debit card. You send btc there, and it is instantly available to spend as USD anywhere Visa is accepted.

Even better, there is a coinbase shift card which does the same thing except the btc/usd exchange date remains fluid until you actually make purchases with the card.

Sorry for being long winded. About your first question. I assume you are referencing Mt. Gox. It was one of the original btc/usd exchanges. The 'vault' did not really go down and the 'wallets' did not really dissappear.

What happened was, the owner of that exchange was stealing enough bitcoin from peoples accounts until the exchange became insolvent. This was a website with backend servers. While the owner was stealing peoples funds, he maintained the correct amounts on the front end so nobody was the wiser until the exchange became insolvent and it all came crashing down. The owner then claimed it was all the work of hackers. There may have been some hacks as well but the owner certainly was the main thief and tried to shift blame. I am pretty sure he is in jail now.

Could this happen again? Sure. That is why you are careful about what exchanges you use. If it is US based and long established - chances are the owner is making enough millions in trading fees that they would never consider running off with users' bitcoin and risk most certain jail time.

Which brings an excellent distinction. When your 'usd' or bitcoin are on an exchange they are at risk. That is a fact. Hacks happen. People get greedy and steal. Its risk vs reward.

When you have your bitcoins on a private wallet on your computer or on a thumb drive, with the wallet locked, encrypted, keys exported, wallet.dat backed up, nobody can steal your coins. You can also by hardware btc wallets these days. Or write your wallet address keys info on paper and store them nowhere on your pc. They call this a paper wallet. And you could use those keys to regain access anywhere at any point in the future. Simply by downloading the wallet again and importing.

Realized i was silly and did not mention the easier method - go Here
Create a wallet, write down all your info + your 12 word passphrase and enable 2FA, the whole nine yards. You will forever have a secure bitcoin wallet addy on the web withought having to download the blockchain and all that jazz. Send there, keep your hands off for years, profit.
edit on 22-5-2017 by lightedhype because: (no reason given)

posted on May, 22 2017 @ 01:13 AM
Most important - always always always!!!! Use 2FA on your phone with Authy or Google Authenticator. Has not been cracked by anyone yet.

posted on May, 22 2017 @ 02:33 AM
a reply to: neo96

Don't trust 'hearsay', do the research for yourself - start here:

posted on May, 22 2017 @ 02:40 AM
doing better than thought with it . Got in back when it was around the $300.00 mark . Going to let em keep building .

posted on May, 22 2017 @ 02:51 AM
a reply to: lightedhype

Cheers for posting that,im looking to buy XRP now,just going through the verification process now and then ill have a look at stratis as I will invest and forget.

I was going to buy ETH but for some reason I gotbside tracked and forgot about it then it skyrocketed.

posted on May, 22 2017 @ 03:32 AM
There is a new one on the market called Bilur. It's backed by oil, so each one is worth around 6.5 barrels of crude oil and 350 bucks a piece. This means the value can't wildly fluctuate as bitcoin is prone to.

This doc gives some great insight into bitcoin
edit on 22-5-2017 by Tim2win because: Update

posted on May, 22 2017 @ 06:57 AM
I bought some when it was 25€ per Coin. Printed it out so not to loose it.... guess what...

posted on May, 22 2017 @ 07:37 AM
Do yourself a favor and just buy land. At least you know your money will be there when the computer systems crash, or some major event disrupts cryptocurrencies.

honestly your money in the bank is just numbers on a screen, and so is cryptocurrency. I like to invest in tangible items... you know.. stuff I can see, touch, smell? Maybe real estate?

posted on May, 22 2017 @ 02:37 PM
I created 2 digital wallets earlier.

Xapo, and Coinbase.

Waiting on identity verification with Xapo.

Coinbase it was pretty much instant.

Did have a problem with my banking information.

But paypal link made without a hitch.

The only thing left is to fund them.

Current BT price $2,277.

So it went up $200 bucks since I created this thread last nite

edit on 22-5-2017 by neo96 because: (no reason given)

posted on May, 22 2017 @ 03:19 PM
a reply to: neo96

Yea if you want in now without waiting for a dip get in asap asap. The 2017 Crypto Consensus is happening righr now this week in New York. You can find live streams on youtube. Lots of big announcements to come from it this year.

posted on May, 22 2017 @ 08:46 PM
Many companies have invested in it including Microsoft and also will take it as payment. The worry I have is will it ever actually fly? You know the federal reserve, IRS, CIA etc. will do everything in their power to make it fail because it keeps them out of the picture.a reply to: FamCore

posted on May, 23 2017 @ 08:43 AM
It's not to late to get in the game.

Fractional purchases its an option.

If I read right.

Buy what you can afford.

Dollar cost averaging and long term it can pay off.

posted on May, 25 2017 @ 10:58 AM
For those with brokerage accounts.

GBTC started out as a pink sheet.

I started watching it at $72 a share it's now over $500. Up 300 since I created this thread.

Trend continues it's going to have a price per share more valuable than Google and Amazon.

Whole lot of penny stock multimillionaires!

ETA: GBTC is falling like a rock today.

Probably a pump and dump.
edit on 25-5-2017 by neo96 because: (no reason given)

posted on Jun, 9 2017 @ 11:48 AM
I am the proud new owner of some cryptocurrency.


$2,800 the price of bitcoin.

Up $900+ since I created this thread.

edit on 9-6-2017 by neo96 because: (no reason given)

posted on Jun, 10 2017 @ 01:29 PM
a reply to: neo96
i was given 15 of them years ago when it first started out been sitting in a wallet ever since can't remember the access code for the damn wallet it was on a machine that died years ago taking my pin with it.

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