Looking for 6 bitcoins. Paypal verified.
Are you in the U.S.? This exchange accepts credit card. (they don't deliver coins for a day though, so this may not help you). - https://www.quickbitcoins.net/order/createWith VirWoX you can buy SLL using credit card, then trade SLL for BTC: - http://www.VirWoX.comPhysical Bitcoin, paid for with credit card: - http://memorydealers.com/catalogsearch/result/?q=bitcoinBut quite simply, depositing cash at a bank or 7-11, Walmart, CVS is going to be the fastest and easiest way. - http://www.BitInstant.com (Deposit at major banks, 7-11, Walmart, CVS, Moneygram, etc., or in Brazil using Boleto or Banco Recomendito, or in Russia, using Qiwi or Cyberplat.) - http://www.CAVirtEx.com (Deposit cash at several banks) - http://www.Spendbitcoins.com (Deposit cash at a bank in Australia) - http://www.MrBitcoins.com (Deposit at a bank in U.S., India, Australia) - http://BitcoinNordic.com (Purchase CashU or UKash in dozens of countries) You might also consider listing your interest to buy on LocalBitcoins.com or maybe someone near you is selling: - http://www.LocalBitcoins.comThere are a number of methods available: - http://en.bitcoin.it/wiki/Buying_bitcoins |
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I wanted to see what the group is seeing that their avg. to transfer funds from Gox to Dwolla. Min/Hr/Days?
I don't know if they've caught up to where it is instant (within the hour, or same day even). I don't see any more posts to the thread where that was collecting reports of delays: - http://bitcointalk.org/index.php?topic=88512.0 |
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why is that? any idea
Are you using an encrypted filesystem? That's a performance killer for the bitcoin.org client, which uses BDB and does a LOT of i/o. |
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It is interesting how in countries where electricity is subsidized there are more sellers. In countries where electricity is expensive there are more buyers. Anyway, you could add yourself to the list: - https://localbitcoins.com/country/VE |
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This may sound dumb, but I'm fairly new to Bitcoins, and I'm just wondering why the value fluctuates so much, I remember just a while ago it was at $6/BTC. I'm not complaining about it, I'm just curious.
All commodities and foreign currencies have fluctuations in price. Here's soybean oil. To a pension fund, for instance, that volatility might be no better than Bitcoin's is!  Bitcoin's fluctuations are much more dramatic than other commodities for a number of reasons. For once, the traditional financial ecosystem has kept their distance. While individual traders speculate on bitcoins, there are likely no pension funds invested in Bitcoins. So of course, with mostly short term speculation you'll see wide swings in the exchange rate. Then you have factors like counterparty risk. Leaving bitcoins on an exchange is a risky proposition, as those who lost bitcoins at BitFloor this week learned. So even when the exchange rate spikes, the sellers willing to sell at that price aren't in a position to do so. If they weren't aware of the price increase, they might have missed the spike. Or even someone watching might send more coins to the exchange on to be too late and the price drops down. The same problem occurs for the fiat side -- moving funds from a bank or other method are not immediate. That's one reason why weekend dips are so brutal when they happen because there aren't enough fiat dollars around to buy up the low priced coins until the bank wires resume during the week. Also, there are few financial derivatives available ... such as a method to short bitcoin. This is starting to change -- there are now CALL and PUT options at MPEx. There are futures contracts at ICBit.se (again, ... counterparty risk exists, etc.). Just like there are parties that would like to see precious metals have price instability to keep it from being used as a currency, there are likely parties that would like to see Bitcoin have price instability for the same reason. That's why there might be buying spurts that seem crazy -- definite money losers, and they do lose money, but again that probably wasn't the reason the trading occurred. (just because you are paranoid doesn't mean they aren't out trying to get you.  ) Then consider the situation where a thief gets ahold of tens of thousands of coins and liquidates them -- the market may not be in a buying mood -- and the price goes splat. So exchange rate risk is inherent in commodities and bitcoin's unique situation amplifies these. Particularly because some see the potential and will buy at any price. It may take years for this all to mature to levels closer to other commodities. |
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User A pays for the item with BitCoins, How long does it take for User B to verify that the payment was received?
As soon as the spend transaction is broadcast to a node's peers that it has a connection to, the transaction will propagate to nearly all nodes globally within seconds. Some will get it within a fraction of a second, for others it may take five or fifteen seconds before they learn of the transaction (and some nodes could be longer even) But there's a chance that the message is deceiving. If the party that sent the payment it is attempting to cheat you, there are ways that you would think there was a payment but then later learn tht the funds never did confirm. To protect against this, some merchants only recognize six confirmations as a completed transaction before crediting the recipient's account. Six confirmations is the number that makes it essentially impossible for the transaction to be reversed later. Now because this can take an hour or more for six confirmations to occur, some merchants may treat transactions with fewer confirmations as being paid simply to improve the buying experience. An exchange where an anonymous party is transacting from a remote location would not want to use below six. But others, like an e-commerce site, might be fine with fewer and a convenience store might be fine requiring none. The level that would be appropriate depends on a few factors. There are various types of attacks that confirmations will protect against: - http://en.bitcoin.it/wiki/Double-spendingTake the race attack. The motive for the thief considering this is to obtain goods without paying. Visiting a retail location gives up evidence -- the party is identifiable, possibly through a security video camera. The merchant may not know that the transaction was a double spend until the thief is gone, but there is evidence to use to pursue the thief. If the chance of getting caught doesn't dissuade the thief, then there is another hurdle. The success of a double spend attempt is low, as long as the merchant takes basic precautions (no incoming connections, explicit outgoing connections to well connected nodes). So if the success rate is one in twenty, the merchant's sees profits from normal sales on the 19 attempts that failed. Those profits might exceed the loss even if one attempt does succeed. So basic economics will prevent the thief from trying this as well. Now if instead you had an unattended change machine at a laundry mat, where there is no profit or only a low profit from the exchange, the situation is different. For that, the thief would continue double spend attempts until successful. To protect against getting caught perhaps the thief uses a disguise. So in that instance Bitcoin doesn't work unless the trade doesn't complete until the transaction has multiple confirmatioins. Credit cards don't technically settle where there is no reversal for three months or more, but merchants still accept them. They manage the risk. The double spend risk for Bitcoin can be managed as well for the instances where six confirmations (one hour) is not fast enough. |
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Does anyone know how it works? Does it go directly into my account? What are the commission rates? Are there any exchange rates? Does BTC turn into USD and then into my currency(CAD)  ? There are many exchanges and cash-out methods. Are you referring to a specific offer to convert bitcoins for you? The factors that matter for any cash-out decision are: - Where are you located (country)? - How much are you looking to trade? - What type of cash are you looking to receive? - How soon do you need access to the proceeds? - Is privacy important? You could cash out to PayPal for instance. Specifically for cash-out to PayPal, options include: - http://www.FastCash4Bitcoins.com (among the lowest fees, funds not always available though) - http://www.VirWoX.com (BTC --> SLL, SLL --> USD) There are fees for doing that and there are less expensive methods, for something like 50 BTC. In the U.S., ACH withdrawal from an exchange (or using Dwolla as intermediary) is the cheapest. In Europe, SEPA transfers from an exchange to your bank are affordable. If you want the funds to your existing VISA card, you probably need to withdraw to your own bank and then from there load or pay to your VISA just like normal. If you just want a debit card that can be loaded using bitcoins, there are a few options for that. In the U.S., bitcoins can buy MoneyPak and that works for reloading a variety of debit cards. You can buy MoneyPak with bitcoins from : - http://www.BTCPak.com - http://www.FastCash4Bitcoins.comSome debit cards are issued by a Bitcoin-enabled issuer. OKPay offers this: - https://www.okpay.com/en/services/debit-card - http://en.bitcoin.it/wiki/OKPayHere are more cash-out options: - http://en.bitcoin.it/wiki/Selling_bitcoins |
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Would anyone have interest in collateralized loans of Bitcoins backed by valuable goods? Any feedback would be appreciated.
Forget the "loans" concept, how about simply helping people convert their unneeded stuff to bitcoins. eBay has a list of privately run "Drop Centers" that will take your items and list them on eBay, take a commission, and then send the proceeds to the party that dropped them off. Like a consignment shop. The problems for that are shipping costs (sending to the drop center, then the drop center shipping to the auction winner), regulatory costs (pawn shops / consignment shops / drop centers have restrictions to prevent selling stolen property), and basic economics ... after all the hassle, is your old but still working blender going to get you even a satoshi after going through all this? But there probably is an opportunity for an existing consignment shop that has a reputation for being fair (and who only accepts items that have a chance of being successful at auction or direct sale), to add payout in Bitcoin and increase their inventory as a result. From another thread: However, there are many who would not normally visit a pawn shop but would if only they know the proceeds would be provided in bitcoins. The advantage to the pawn shop operator is an increase to inventory of more valuable items. They don't need many boom boxes but jewelry or a nice commercial electric drill and now the operator might become interested. Incidentally, I did speak to a couple of pawn shop operators. Until they have customers coming in asking if items can be pawned in exchange for bitcoins, they generally will be less than enthusiastic. But just like how the UK Copy Writer learned that being the first supplier in the industry to accept bitcoins gives an advantage over the competition ( http://www.ukcopy.co.uk/blog/2011/11/the-amazing-power-of-bitcoin ), the first pawn shop to do this will likely find it to be worth the effort. |
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I would not expect hardly ANY performance out of that at all. If you get more than 20MH/s, I would be shocked.
Which is about .2 BTC per month, worth about $2. Extrapolating that rate for a year that is about $24 per year. Except that the block reward adjustment drops in half in about eighty days. And higher difficulty will drop the production for your hardware as well. If you just want a hobby, knock yourself out. |
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Does anyone have any ideas on how to turn Bitcoins into USD and into my bank account instantly or at least extremely quickly?
You don't mention which bank you use. Dwolla uses the ACH network, so that takes one to three days for moving funds from Dwolla to where they can be spent by you. One method is to do a wire transfer from an exchange, but that is expensive. For any conversion of about $1K or less, wire transfer is a very expensive withdrawal method. There is a service that will deposit cash into your bank account, but the list of banks they can do this for is limited: - https://bitcointalk.org/index.php?topic=82983.0 There is another ACH withdrawal method. They have normal ACH (1 to 3 days), rush ACH (overnight in many instances, fee of $10), and wire transfer (overnight, fee fo $25). - http://www.FastCash4Bitcoins.com You might find a local trade: - http://www.LocalBitcoins.comYou could also get a reloadable debit card. For instance, the American Express prepaid card and the Western Union prepaid card -- both have no monthly fee, low or no ATM fee, etc. They can be loaded using MoneyPak, which you can buy using some exchange services. One loaded, funds can be withdawn at an ATM, or spent using the card, or transferred to a bank account. Here are MoneyPak vendors: - http://www.BTCPak.com - http://www.FastCash4Bitcoins.comThere might be other options for you. Here's a fairly comprehensive list: - https://en.bitcoin.it/wiki/Selling_bitcoins |
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Curious to know if investing in Bitcoin is worth it?
Seems to be alot like stocks almost. Dont entirely know.
Worth it to see what happens? Making them seems like a pain tho..
There are about 85 days before mining revenue drops (in terms of bitcoins produced) by half. - http://www.BitcoinClock.comSo if you are thinking about GPU mining, now is not the time to start. As far as investing -- Bitcoin should only be considered a risky investment. Don't invest more than you are willing to lose. Nobody knows what the future will bring for bitcioin. There are things that the current speculators might be overlooking and thus have overvalued bitcoin. Other things that might come might cause there to be the belief that the currency is undervalued and that it will go up. Nobody knows though. |
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1.how do I purchase bit coins?
The factors that matter in order to give you the best answer include: - Where are you located (country)? - How much are you looking to buy? - What payment methods do you have available? - How soon do you need access to the proceeds? - Is privacy important? 3. I have B.o.a and they won't let me transfer funds,so how do I?
If that is Bank of America, then you have a few options. You can use BitInstant to do a cash deposit method directly to a bitcoin address. - http://www.BitInstant.comThen you visit B of A, withdraw cash from your account and then deposit that cash into the account provided on the BitInstant receipt that you printed out. If you are buying $500 or more, there are direct sellers which charge a lesser fee. If you want the cheapest method and have oodles of time, then set up an account with Dwolla and use them to transfer funds from your B of A account, and then send those funds to an exchange. There are a lot of steps in this method, but if you will be buying often, this is a good way to go. You might wish to do a local trade instead: - http://www.LocalBitcoins.comThere is a fairly comprehensive list of options compiled here: - http://en.bitcoin.it/wiki/Buying_bitcoins4. I need a ewallet guide for dummies as I mainly use my smartphone.
An Android smartphone? Bitcoin Spinner is pretty intuitive. Don't overlook security. Now for walking around amounts of money, an app on a smartphone (with a backup of the private keys) is probably sufficient. If you are holding bitcoins for investment, storing them on a wallet on a mobile phone is not the wisest thing to do. For that, an offline wallet or other measures can help keep your funds secure. |
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How is this not going to be a problem?
Take e-mail for example. Some people use gmail (hosted messaging). Some people run their own SMTP host, as their needs are different. Others use hybrid -- imap hosting with a desktop application client, a mobile app, and also via the web interface. Others use Outlook and MS Exchange mail server. There are even niche services that will send all your e-mail to you by fax. But all of them talk the same protocol underneath to send and receive messages. Bitcoin is a protocol, for money. As long as a party is willing to accept your item of value, that item continues working as a currency. If there was the risk of a prepaid card not holding its value, it won't be accepted. |
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You can't trade bets, right? If not, it's not as good as a prediction market, because the trading rate directly gives you a real-time estimate of the probability of the event.
Correct - the bets are not tradeable and payout occurs after the event occurs or the event date. I added to my post above a method to use Bitcoins for funding an Intrade account. |
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So in my theoretical example, a group of 50 of so people takes 100kBTC and goes to live on a desert island. They have a local network, but no connection to the internet as a whole. They attempt to run an economy.
What problems might arise? Would mining still work? Could transactions be verified? Taking today's blockchain with them, and its difficulty of about today's 2.7 million, and assuming each of the 50 in the group has a typical high end 1.4 GHash rig, then to get a block on this isolated network to be solved, you would have to wait two days. So to get a transaction to confirm would take nearly two weeks. Now consider that someone takes a copy of their local wallet with 500BTC that they earned growing carrots back into the world and tries to spend it. Does it work? Well, ... all the blocks solved by your island would be orphaned once exposed to the main net because the current capacity of 20 Thashs/s has way more blocks solved than the island fork. But the client wouldn't care, it would see the reorg and notice the transactions were back to being unconfirmed and would broadcast them again. Presuming no double spending occurred then the transactions would be relayed and then included in blocks. So rejoining is not a problem, as long as there were no dishonest who spent on the island and also spent those same coins on the main net as well. Is there any way to adapt Bitcoin to solve any problems with this scenario? Yes -- set up something like a dial up connection if you had to for just one of the nodes even so that you are never out of sync very far with the rest of the network. |
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