All right, I have been approached locally to buy a relatively good amount of BTC. The guy wants to start slow and build it up to where he can trust me. the kicker part is that I don't have the $500.00 in BTC in my wallet. I don't even have even anything remotely close to anything to show that I am a serious buyer. I know this will be a great opportunity to be able to open my listing as there are many in my vicinity that are willing to trade with me.
I have been racking my brain as far as how can I approach my bank in seeing whether they will allow me to secure a loan with them in order to fund it. Has any of you guys gone to the bank in order to make a loan to fund obtaining btc?
I saw a thread, about how people were going to get up there. I am very gung ho on doing this. I am just curious to know what ways to go about it.
If you are in the U.S., no bank is going to loan you money to trade bitcoins and you risk going to jail if you don't have a license. Those are the challenges you face if you want to become a big-time trader. |
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The danger is simply a risk that the bank might harm you in some way. The risk is low, but it is not 0. My experience has been that localbitcoins face-to-face transactions are safe. I've done many over the last several years and I have never had a problem or felt like I was ever in any kind of danger. Just don't do anything you wouldn't otherwise do with some random stranger on the street.
Thank you. Does anyone know what the procedure is for a bitcoin transaction in person? Do I just hand them the money and be on my way or do I bring my laptop and ensure that the bitcoins get deposited while I have them with me? Again, I'm new to the bitcoin thing, so bear with me for wanting specifics.
Also, what reason would a bank have to "harm" me? Thanks!
They wouldn't necessarily be out to harm you, but they might just not care because your safety and the safety of the information you give them is not their concern. For example, they could be hacked by an identity thief. They could sell your information to marketing firms. They could file a Suspicious Activity Report on you. |
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I don't see anywhere in the conversation where Genesis/Helmut is lying or being deceptive. The worst thing he did was suggest using the Coinwarz calculator, which will give absurdly optimistic results.
Sorry davide72, you need to show me why investing in a money-loser was a good idea before I can consider taking your side.
Are you serious? Let me guess you own a cloud mining company? The fact that they knowingly sell a product that has no way in any capacity to deliver a viable product to the purchaser, and knowing full well, that when ROI is discussed with the salesperson, they do nothing to dissuade the customers belief they will be profitable, is point in fact, deceptive, unethical, and criminal in every single way you look at it. Your attitude is one of the major reasons btc and crypto-currency has the image of being nothing but a scam. Why don't you go take some kids candy then tell them it's their own fault for not being able to stop you from doing so. I guess you forgot at some point in your life you didn't know everything and relied on people to be honest and not take advantage of you. This exact attitude is why scammers exist. Maybe next you can go on some child abuse support forums and tell them how it was their fault also, how those people who did that to them didn't do anything wrong because they let those people, the ones they trusted, do the things they did. Maybe you could become a police officer they're about as effective. Get of your pillar, all you're doing is making the problem worse by making comments supporting the actions of a scam. I feel that it is your responsibility to determine if their product is profitable before buying it, not theirs. It is up to you to make the decision, not them. I don't condone fraud. This is not fraud. They give you all the information you need to make a good decision. As for my attitude being the reason for the existence of scammers, you have it exactly backwards. If more people had my attitude, there would be fewer people to scam. |
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Why restrict yourself to bitcoins? Just look for a way to earn money, and then you can easily convert to bitcoins. Despite what others write, buying bitcoins is the fastest, easiest, and most convenient way to "earn bitcoins".
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... As long as your not doing anything illegal it really shouldn't matter if you give them your ID or not. ...
By your argument then, as long as the bank is doing nothing illegal, it shouldn't matter if the teller gave you their ID or not, right? Hello,
I live in a small town where Bank of America, Credit Unions and other lesser known banks are. BoA was pretty much my go to place since they were the only ones who didn't require ID but they do now (as of November). I just want to know what the dangers are of presenting my ID to the teller and what they do with the information.
Are there any other safe alternatives? I don't know how safe it is to meet the seller in person with cash for a bitcoin transaction
The danger is simply a risk that the bank might harm you in some way. The risk is low, but it is not 0. My experience has been that localbitcoins face-to-face transactions are safe. I've done many over the last several years and I have never had a problem or felt like I was ever in any kind of danger. Just don't do anything you wouldn't otherwise do with some random stranger on the street. |
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I think the main reason why currencies are quoted in USD is that it is ubiquitous and generally stable. If you want currencies to be quoted in BTC, then BTC would have to become more ubiquitous and stable than the USD (it could happen).
It seems like you believe that since the number of bitcoins is fixed, then its value does not vary. Here two reasons why I think that is not true:
The value of something is always relative to something else. Currently, the value of 1 bitcoin is equal to 451 dollars and it is also equal to 12.7 grams of gold. Both of those values could change tomorrow, and by different amounts. So when you assume bitcoin would have a constant value, the question becomes, constant relative to what, and what market mechanism ties the two values together?
Also, the value (more specifically, the price) of a bitcoin depends on supply and demand. As economies in the world grow and shrink, the supply and demand for bitcoins are going to change -- and so is the value of a bitcoin. Assuming that we expect the overall world economy to continue to grow, the common wisdom believes that will lead to an increasing demand for a fixed supply of bitcoins, and lead to a higher price. But, it could also be the case that increasing adoption and improved technology could increase the velocity of money, which would lower the demand instead, and lead to a lower price.
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This is just a regurgitation of last month's Reuters article that likened Bitcoin to oil, which is silly because the two have nothing in common.
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The article is not really worth reading. Here is a summary:
The way to protect yourself from Bitcoin's volatility is to avoid holding bitcoins.
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Can someone help me find a good profitable way to make nice money with btc or DeepW? what does it take ?
go check out this website if you wanna get some free bitcoin http://.claimbtc.com Faucets are a waste of time. Why limit yourself to BTC? Why not just get a regular job and buy bitcoins? You could even ask them to pay you in Bitcoin if it is really that important. Either way, you will get much more money from a job than you will ever get with faucets or signature campaigns or any of the other ways that people are going to suggest. |
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The fastest, easiest, and most convenient way to obtain bitcoins is to buy some.
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Please note that Coinbase and Circle are not exchanges. They are more like traders or maybe brokers. You buy and sell bitcoins directly with them. As for exchanges, there are at least two in the U.S.: Coinbase Bitcoin Exchange (run by Coinbase): https://exchange.coinbase.com/Gemini: https://exchange.gemini.comBoth of these charge something like 0.2%, which is about as low as you can find. The downside is that you are trading on an exchange and is a little more complicated. |
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The idea behind the project is that people in a municipality are rewarded with the use of a credits system (alternatively a cryptographic token, but more research is needed) for bringing used electronics to the waste yard (the electronics are weighed and then credits are awarded according to the weight). In fact they become shareholder.
If I bring in the electronics waste, how is receiving altcoins or shares better for me than receiving dollars or euros or bitcoins? |
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The easiest, fastest, and most convenient way to obtain bitcoins is to buy some.
I don't have that kinda cash laying around. Thought I'd try a little in trading, I don't wanna do any signature campaigs as they have a minimum post count and I don't think I am that much knowledgeable to write that many contributing replies. Currently am just trying faucets to earn bits but I don't think that I am gonna earn a lot that way. What do you mean by "that kinda cash"? How much are you hoping to obtain without doing any work? If you want anything of significant value, you are going to have to work for it. The most prolific signature campaign members here only make about $2 worth of bitcoins per hour of work. Just get a regular minimum wage job and you will 4 to 5 times more than them in the same amount of time. |
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I got one question when we are already talking about cloudmining. Wanted to invest myself into some cloudmining site , does it exist anyone thats worth geting a contract on?
Most (if not all) cloud mining sites are either scams or are not profitable. Honestly, it is up to you to figure which ones (if any) are worth risking money on. If you can't (or don't want to) do basic due diligence, then you should stay away because you are just going to lose money. |
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The easiest, fastest, and most convenient way to obtain bitcoins is to buy some.
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I Have narrowed down to 3 Cloud Mining Websites (due to users review, reliability and transparency) CLDMine - https://cldmine.com/ (I have an account there and it works great!) ... I do not trust CLDMine because AnonLocki01 is a brand new user and every one of his posts have been pushing CLDMine. Smells like a scam to me. |
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It appears to me that Alice and Bob are married, so I would not want to get in the middle of their little quarrel. Bob's best move would be to get a job at the DEA so that Alice would stop complaining about how he needs a job. Then they can pay their debts and their daughter would no longer need to sell herself to the rich Chinese businessmen that visit their town. Alice could go back to work as a stewardess, but she is getting old and can no longer depend on the cocaine and booze to keep her thin.
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Have you backed up your wallet?
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... If we assume that the current need for BC is worth of 1.4 million dollars a day ...
That is a bad assumption. Newly-mined bitcoins are only a small part of the supply. Your number is probably off by a factor of ten. Furthermore, bitcoins are not consumed. The supply of bitcoins is growing every day and will continue to grow after the halving. In order to maintain the current price, the demand must grow at least at the rate of the growth of the supply. The halving will require less growth in demand in order to maintain the current price. |
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