Author Topic: Turning american dolla into bitcoin  (Read 8039 times)

Offline rBST Cow

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Turning american dolla into bitcoin
« on: August 26, 2014, 08:15:36 PM »
How do I do this and what should I know?
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Offline Somone77

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Re: Turning american dolla into bitcoin
« Reply #1 on: August 26, 2014, 10:14:27 PM »
I suggest Coinbase because their the most trustworthy and straightforward service I've used, though they won't make your bitcoins anonymous. (Since your coinbase account is tied to your bank account, as opposed to you buying bitcoins using gift cards).

Right now the prices are hovering are the $500 range, if I were you I'd wait until a sink into the mid $400's before buying. To buy, you need to give them your bank's routing number (can be obtained via your bank website, google it) and your account number. Once you do this, you can buy bitcoins though it will take a few days before you get them. If you link a credit card in addition to the bank info, you can receive coins instantly.

If you want to buy anonymously, you may want to search around the TOR network, however these are usually very shady and you can't really trust them. That's up to you.

Offline rBST Cow

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Re: Turning american dolla into bitcoin
« Reply #2 on: August 27, 2014, 12:18:33 AM »
I suggest Coinbase because their the most trustworthy and straightforward service I've used, though they won't make your bitcoins anonymous. (Since your coinbase account is tied to your bank account, as opposed to you buying bitcoins using gift cards).

Right now the prices are hovering are the $500 range, if I were you I'd wait until a sink into the mid $400's before buying. To buy, you need to give them your bank's routing number (can be obtained via your bank website, google it) and your account number. Once you do this, you can buy bitcoins though it will take a few days before you get them. If you link a credit card in addition to the bank info, you can receive coins instantly.

If you want to buy anonymously, you may want to search around the TOR network, however these are usually very shady and you can't really trust them. That's up to you.

They can't sell in decimals? What I plan on buying isn't 500$, it's a little less than half of that.
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Offline Somone77

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Re: Turning american dolla into bitcoin
« Reply #3 on: August 27, 2014, 01:08:44 AM »
They of course can. The price right now is ~$500 per bitcoin. Yo can buy any amount you like, for example in my wallet I have 0.3373 BTC (around $174.42) What I'm saying is that you should wait until the value of bitcoin drops, relative to the USD, so that when it rises back up your bitcoin is worth more.

EDIT: It's worth noting that my projection of the price of bitcoin isn't fact. It could only go up from here, what do I know? If you want to make your own guess on bitcoin's price, a good place to start is here:
https://bitcoinwisdom.com/markets/btce/btcusd
« Last Edit: August 27, 2014, 01:10:37 AM by Somone77 »

Offline rBST Cow

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Re: Turning american dolla into bitcoin
« Reply #4 on: August 27, 2014, 02:11:35 AM »
They of course can. The price right now is ~$500 per bitcoin. Yo can buy any amount you like, for example in my wallet I have 0.3373 BTC (around $174.42) What I'm saying is that you should wait until the value of bitcoin drops, relative to the USD, so that when it rises back up your bitcoin is worth more.

EDIT: It's worth noting that my projection of the price of bitcoin isn't fact. It could only go up from here, what do I know? If you want to make your own guess on bitcoin's price, a good place to start is here:
https://bitcoinwisdom.com/markets/btce/btcusd

Thank you for the info C:-)



Well this is fucking gay. I need to attach a routing number onto the CoinBase account, like, niggers, I don't use fucking checks and apparently the only way to find your routing number is with checks. I got a goddamn debit card and a savings/checkings account (Checkings attached to the debit card). What will I ever do.
« Last Edit: August 27, 2014, 02:24:01 AM by Cow 8-) »
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Offline Somone77

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Re: Turning american dolla into bitcoin
« Reply #5 on: August 27, 2014, 08:35:08 AM »
Like I said earlier, you can get the routing number from your bank or Google it. Your account number will usually be found on your online banking page, or you could just call your bank and ask for that as well.

Offline JF

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Re: Turning american dolla into bitcoin
« Reply #6 on: August 27, 2014, 09:49:12 AM »
Question: What's the point in Bitcoin?
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Offline rBST Cow

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Re: Turning american dolla into bitcoin
« Reply #7 on: August 27, 2014, 11:12:21 PM »
Question: What's the point in Bitcoin?

So I can buy certain things that you couldn't otherwise buy on the internet


Like candy
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Offline alaskan thunderfuck

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Re: Turning american dolla into bitcoin
« Reply #8 on: August 27, 2014, 11:25:27 PM »
Question: What's the point in Bitcoin?

So I can buy certain things that you couldn't otherwise buy on the internet


Like candy
you're 15 pls don't do drugs
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Offline rBST Cow

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Re: Turning american dolla into bitcoin
« Reply #9 on: August 28, 2014, 01:12:27 AM »
Question: What's the point in Bitcoin?

So I can buy certain things that you couldn't otherwise buy on the internet


Like candy
you're 15 pls don't do drugs


But sir where else will I be able to buy my china-only coca-cola products such as


abbot common stop bad for you if u watch anime all day nigga u fuckn weaboo

Offline JF

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Re: Turning american dolla into bitcoin
« Reply #10 on: August 28, 2014, 01:50:04 PM »
Question: What's the point in Bitcoin?

So I can buy certain things that you couldn't otherwise buy on the internet


Like candy
There are sites that will only accept BCs?
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Offline Somone77

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Re: Turning american dolla into bitcoin
« Reply #11 on: August 28, 2014, 01:58:08 PM »
Question: What's the point in Bitcoin?

So I can buy certain things that you couldn't otherwise buy on the internet


Like candy
There are sites that will only accept BCs?

Some sites that are less-than-legal only accept bitcoins under the misconception that bitcoin is anonymous. In reality, you have to understand that the way bitcoin works inherently makes it easier to trace transactions than many major credit corporations. This is due to every bitcoin miner logging all transactions. The entire history of bitcoin is available to anyone.

This is also why there's a lot of services called 'anonymizers' which will bounce your coins thousands of times through wallets and return them to you, hopefully hiding your identity. Like I said before, however, this can be traced back. The only perfect way to have 'anonymous' bitcoins is to buy them from a random person on TOR in exchange for a gift card you bought out of town.

Illegal prospects aside, I personally believe that bitcoin (if not bitcoin, than another cryptocurrency) is truly the future of online transactions. The ease of use and decentralized framework provides a perfect base for expanding how we interact. I think the next major stepping stone for bitcoin is for a major online retailer (like Amazon) to accept bitcoin in exchange for goods. If this would happen, it cement bitcoin's place in our society.

Offline JF

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Re: Turning american dolla into bitcoin
« Reply #12 on: August 28, 2014, 06:14:15 PM »
Question: What's the point in Bitcoin?

So I can buy certain things that you couldn't otherwise buy on the internet


Like candy
There are sites that will only accept BCs?

Some sites that are less-than-legal only accept bitcoins under the misconception that bitcoin is anonymous. In reality, you have to understand that the way bitcoin works inherently makes it easier to trace transactions than many major credit corporations. This is due to every bitcoin miner logging all transactions. The entire history of bitcoin is available to anyone.

This is also why there's a lot of services called 'anonymizers' which will bounce your coins thousands of times through wallets and return them to you, hopefully hiding your identity. Like I said before, however, this can be traced back. The only perfect way to have 'anonymous' bitcoins is to buy them from a random person on TOR in exchange for a gift card you bought out of town.

Illegal prospects aside, I personally believe that bitcoin (if not bitcoin, than another cryptocurrency) is truly the future of online transactions. The ease of use and decentralized framework provides a perfect base for expanding how we interact. I think the next major stepping stone for bitcoin is for a major online retailer (like Amazon) to accept bitcoin in exchange for goods. If this would happen, it cement bitcoin's place in our society.
What I don't get is how it differs from the way people shop online currently. I go on, say, Amazon, find the product I want and then buy it online. The money is then transfered from my account to the sellers account. All done online and electronically. What makes BC better from the current method of shopping online?

And isn't BC similar to what PayPal has been doing for years?
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Offline Somone77

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Re: Turning american dolla into bitcoin
« Reply #13 on: August 28, 2014, 07:03:23 PM »
[ending the quote chain, because it's gay]

BTC* is different from PayPal in that the transaction isn't, or I should say 'doesn't have to be', run through an institution like that. This means, there's no fee for transactions.

One could also say it is more secure. When you enter your credit card online, that company can charge it all they want. If you link a PayPal to a company, they can charge THAT all they want. With BTC, the only two things known about you when you pay is the wallet ID and the amount transferred. So when the website gets hacked, they don't have to say "You may be losing all your money because our database wasn't PCI complient, sorry".

I could make up more benefits for days, but I'm not going to sit here and write a paper on the subject. Here's what made me realize it's here to stay. When I bought my VPN with BTC. I clicked the button, a QR code appeared on my screen, and I got my login info. It took less than 20 seconds to do the whole process.
« Last Edit: August 28, 2014, 07:08:39 PM by Somone77 »

Offline JF

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Re: Turning american dolla into bitcoin
« Reply #14 on: August 28, 2014, 07:11:12 PM »
[ending the quote chain, because it's gay]

BTC* is different from PayPal in that the transaction isn't, or I should say 'doesn't have to be', run through an institution like that. This means, there's no fee for transactions.

One could also say it is more secure. When you enter your credit card online, that company can charge it all they want. If you link a PayPal to a company, they can charge THAT all they want. With BTC, the only two things known about you when you pay is the wallet ID and the amount transferred. So when the website gets hacked, they don't have to say "You may be losing all your money because our database wasn't PCI complient, sorry".

I could make up more benefits for days, but I'm not going to sit here and write a paper on the subject. Here's what made me realize it's here to stay. When I bought my VPN with BTC. I clicked the button, a QR code appeared on my screen, and I got my login info. It took less than 20 seconds to do the whole process.
I understand. Cheers :)
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