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How much data does Bitcoin-qt download over time once it has already downloaded the entire blockchain? I'm on a metered connection so I need to keep an eye on this.
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coinbase.com seems to take about 5 business days to complete a BTC purchase and I've read that this can cause them to back out if the price changes too much. Apparently they also give you the option to back out. Does this sort of thing also happen when selling? Is there a long delay with the option for either party to back out at completion?
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I switched from Bitcoin-qt to Electrum do I wouldn't have to download the blockchain since I'm on a 30Euros/3GB connection for awhile. The problem is Electrum also seems to be downloading a lot of data shortly after starting. How much will it download if I let it run?
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Is the blockchain re-downloaded every time the client is started? Is there an LTC client which doesn't download the entire blockchain?
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Does that client automatically download a whole lot of data like bitcoin-qt does? I'll be on a metered connection for awhile.
Is there an online wallet for LTC that is considered safer than BTCe's wallet?
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OK, and once I have LTC in BTCe I can either leave them in the BTCe wallet or transfer them to my local wallet? Do the BTC clients/wallets also support LTC?
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And if the price is fluctuating too much Coinbase may back out of the trade. Whoa, really? I had no idea. Do a lot of people talk about this happening to them? |
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I'm curious why I was recommended bitinstant.com (4%) instead of coinbase.com (1%)?
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Why would anyone with a US bank account use bitinstant.com (4%) instead of coinbase.com (1%)?
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So the price discrepancy is brought on by the current situation with Mt.Gox?
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I don't have a utility bill so I can't get a verified Mt.Gox account. Is it a good idea to buy BTC through coinbase.com via my US bank account instead and then transfer them to my local wallet? Is coinbase.com pretty safe?
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I just bought my first BTC on coinbase.com and now I'm wondering how to buy LTC?
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Does that mean I can transfer my BTC from Coinbase to MtGox and sell from there instead? I'm curious about this too. Wouldn't it be a simple matter to buy BTC at coinbase.com for $103, transfer them to mtgox.com, and sell them there for $107? |
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How about buying BTC on coinbase.com and then sending them to my local wallet?
Every time I open electrum it starts downloading a whole lot of data. How much will it download?
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Which would you recommend for Linux? Or should I just use coinbase.com?
EDIT: I'll try electrum. Any ideas for problem #1?
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I'm American and my wife is Spanish and we've been traveling for a number of years. I'd like to buy some Bitcoins as an investment but I think I may be up against some difficulty.
1. I've opened an account with Mt.Gox but it looks like they require an ID and a utility bill issued within the last 6 months before I can deposit or withdraw to/from USD. The ID is no problem but a utility bill could be tricky. We lived in Australia for about 6 months and only left about a month ago, but a utility bill from our residence there will show an address that is not from the same country as my ID. I have a permanent (non-P.O. box) mailing address in the US which I always use as my permanent address but we have no personal utility bills. My business does have a utility bill and insurance statement going to that address and they might reference my name but they definitely also reference my business's name. I don't want to send out my tax return. Can we use the "Local Cash Deposit" option at BitInstant to avoid all of this? We're in northern Spain for the next couple months. I'd rather not use localbitcoins.com but it looks like there aren't any places to buy them very near here anyway.
2. I started bitcoin-qt on my laptop but it looks like it wants to synchronize with something over the internet and use a lot of data doing it. I connect to the internet by tethering my laptop to a cell phone connection and it costs 30 Euros per 3GB. How much data will it use if I let it complete synchronization?
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When I have used bitinstant, here is what I do.
First set up an account at Mt.Gox. Now when you go to bitinstant they are basically walking you through a deposit into Gox's bank account. You will be given the info you need to hand over cash at one of many locations, such as a Walmart. By the time you drive home your money is likely already sitting in your Mt.Gox account. (Don't lie on the forms or it may not work) Now that your account is funded you can try to get a good price buying BTC at Gox. It is not a cheap way, but *easy. Is this still the best way for a newb to buy bitcoins, given the recent changes at Mt.Gox? I'd rather not use localbitcoin. I'm also not sure how to store them. bitinstant gives me the choice of a wallet address or email? |
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How about NASDAQ:SIVB as an investment in Bitcoin?
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best way to invest in Bitcoins is simply to buy bitcoins How would you recommend I do this? Online wallets like coinbase is not recommended to fetch your roi . Cold storage is the way to go. How does that work? I'm just trying to buy and hold some Bitcoins. What should I do? |
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It sounds like maybe mining isn't the way to go. Kazimir, how would you recommend buying Bitcoins for investment purposes? coinbase.com?
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