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Title: The stork brings bitcoins right? Post by: oOpheliaOo on April 11, 2013, 01:55:22 AM So I understand that bitcoins are discovered/rewarded/found by mining. From my understanding that is the only way they are discovered/rewarded/found and put into circulation. Then when you go to a MSB to purchase bitcoins, where do those bitcoins come from? Is there a miner out there that sells bitcoins to the user via Walmart, CVS, Western Union, etc? If so, what is the incentive for that miner to continue to sell the bitcoins? Contracts??
Or maybe the stork brings those BTC :) Title: Re: The stork brings bitcoins right? Post by: Peleus on April 11, 2013, 01:59:28 AM When you go to walmart, cvs etc usually you're putting your money into a bitcoin exchange such as MtGox.
This is a place where lots of people buy / sell bitcoins at the market rate. When you get back you fire up MtGox, say "Buy" and it will find someone else on the exchange willing to sell for that price. You are getting their (or that group of peoples) bitcoins. They may have mined them themselves, or they may have bought / sold them in the past. Title: Re: The stork brings bitcoins right? Post by: oOpheliaOo on April 11, 2013, 02:04:44 AM When you go to walmart, cvs etc usually you're putting your money into a bitcoin exchange such as MtGox. This is a place where lots of people buy / sell bitcoins at the market rate. When you get back you fire up MtGox, say "Buy" and it will find someone else on the exchange willing to sell for that price. You are getting their (or that group of peoples) bitcoins. They may have mined them themselves, or they may have bought / sold them in the past. Thank you! It was a troublesome question on my mind.... :) |