How does someone get bitcoin in the first place

[c01nz]

I know. It has been asked before. It has to have been.
I tried the electrum FAQ. I tried searching online and found some shady sites, like moonpay. I read tutorials. I read the pinned posts here.

I haven't the faintest.
I'm interested in turning USD into BTC.
I'm not currently interested in mining.

Thanks!

[jackg]

You can buy it from sites like binance and coinbase (once you've done an identity check).

You might be able to do it at a crypto atm with or without one or find someone who can sell you some (but take caution with that last one if you don't know how to confirm you've been paid by them).

[Edwardard]

You can buy it from sites like binance and coinbase (once you've done an identity check).

+ You can directly place an offer in the currency exchange board of the forum (if the amount is small) & deal with only reputable and old users with a good trade history. Avoid newbies.

[BitcoinGirl.Club]

You already got few suggestions.
Truth is you can buy bitcoin online from anyone. But you have to make sure that you are not getting scammed. There are scammers around. Whenever you are buying bitcoin, always use escrow. Escrow as escrow agency or individuals. I don't have much idea about the exiting agencies but there are many users on the forum who will be happy to offer you their service for cheap cost.

https://bitcointalk.org/index.php?topic=2439910.0
The above you will find a list of them.

The best way to buy bitcoin is to find people who live in your local. In your county if bitcoin does not have a legal issue then meet people on Facebook and invite them to meet you in person to buy sell bitcoin with you. Don't go for large sum at the beginning and do these things in public place for your safety.

[c01nz]

Thanks everyone.
I consider this question as answered.

[DannyHamilton]

Thanks everyone.
I consider this question as answered.

Glad to hear you consider it answered, but I had something I wanted to add for anyone else that might come across this thread with a similar question in their mind.

Bitcoin is money.  It's that simple.  Asking "How does someone get bitcoin in the first place?" is the exact same question as "How do I get U.S. Dollars in the first place?" or "How do I get Euros in the first place?"

The answers to your question are the same as the answers to those other two questions:

• You can search for a job from an employer that is willing to pay with that money.
• You can provide a product or service and accept that money in exchange from anyone that wants that product or service.
• You can exchange one form of money for another form. You can either do this on your own, by finding someone that has the money you want and wants the money you have, or you can use a service that assists you with making that exchange (such as Coinbase, or Swan Bitcoin)
• You can commit a crime and take that money from someone else without their permission.
• You can beg and hope that some charitable person will just give you some of that money. (This is not allowed on this forum)

[Wiwo]

Thanks everyone.
I consider this question as answered.

Glad to know that your question have been answered even though, there are several answers for this question on various threads around the forum. The question of how to earn bitcoin legally is one of the most popular newbie questions. Due to bitcoin technicallity.

Glad to hear you consider it answered, but I had something I wanted to add for anyone else that might come across this thread with a similar question in their mind.

[li]You can commit a crime and take that money from someone else without their permission.[/li][/list]

• You can beg and hope that some charitable person will just give you some of that money. (This is not allowed on this forum)

Crime is not also allowed in the forum, so I will say the two last options mentioned on the list are both not acceptable in the forum. Begging and crime I highly prohibited that is why you should not trust anyone bitcoin is trustless.

[BlackHatCoiner]

Take a look at decentralized exchanges, or just exchanges that don't require KYC: https://kycnot.me/. You can find various privacy respecting exchanges, in some of which you don't lose custody either.

The answers to your question are the same as the answers to those other two questions:

Plus: you can create bitcoins, and give them to yourself. You can't create fiat currency, unless you're the banker who issues it.

[Emitdama]

I'm interested in turning USD into BTC.

You can find your local people who are selling bitcoins for your fiats in hand or any electronic methods like paypal etc, here: https://bitcointalk.org/index.php?board=53.0 (Currency exchange sub).

When you are about to meet a stranger for buying bitcoins then meet them in public place.
If you are dealing online for any electronic payment, always engage an escrow for safer transaction.

If you are not aware of how to safely transact, take time to learn from this forum and from youtube videos.

[DannyHamilton]

Take a look at decentralized exchanges, or just exchanges that don't require KYC: https://kycnot.me/. You can find various privacy respecting exchanges, in some of which you don't lose custody either.

The answers to your question are the same as the answers to those other two questions:

Plus: you can create bitcoins, and give them to yourself. You can't create fiat currency, unless you're the banker who issues it.

You really can't.  Satoshi created bitcoin.  Now it exists.  You can create an altcoin if you want, but you can't really create Bitcoin.

What you can do is:

• You can provide a product or service and accept that money in exchange from anyone that wants that product or service.

That's what solo "bitcoin mining" actually is.  You are providing a service for the bitcoin network, forming consensus through a method using proof-of-work, and in exchange, the users of that network allow you to receive some bitcoins as payment for that service.

Some of those bitcoins are provided as transaction fees from the users that are currently sending transactions, the rest are provided as a form of inflation reducing the value of everyone else's bitcoins.

If you're talking about mining with a mining pool, then you are just providing a hashing service to the pool operator (essentially leasing your hashpower to them), and they are paying you for that service with some of the bitcoins that THEY earn from the Bitcoin users by providing the service of forming consensus through a method using proof-of-work.

[BlackHatCoiner]

the rest are provided as a form of inflation reducing the value of everyone else's bitcoins.

That's what creating / issuing / printing money is.

Bitcoin mining is all about three essential things.

• Securing the network (as you said) by enforcing the consensus and preventing double-spending.
• Processing transactions.
• Insuring that the money will be minted in a decentralized manner.

I think the last one fits better as separate way to acquire bitcoin. Not just as service.

[MiliMil]

The best way to buy bitcoin is to find people who live in your local. In your county if bitcoin does not have a legal issue then meet people on Facebook and invite them to meet you in person to buy sell bitcoin with you. Don't go for large sum at the beginning and do these things in public place for your safety.

If you are buying BTC from a respected exchange like Binance would you still need escrow? Or is that only for customer to customer transactions?

Thanks!

[DannyHamilton]

the rest are provided as a form of inflation reducing the value of everyone else's bitcoins.

That's what creating / issuing / printing money is.

However, as I pointed out in the part of my post that you failed to include:

If you're talking about mining with a mining pool, then you are just providing a hashing service to the pool operator (essentially leasing your hashpower to them), and they are paying you for that service with some of the bitcoins that THEY earn

There might be an argument that you are "creating" bitcoins and giving them to yourself if you happen to be solo mining. In my opinion, though, those bitcoins already exist in concept. They were "created" by Satoshi when he created the code that allows them to exist in the blockchain. You are simply being allowed to receive them in exchange for the service that you've provided to the users of Bitcoin.

[BlackHatCoiner]

However, as I pointed out in the part of my post that you failed to include:

If you're talking about mining with a mining pool, then you are just providing a hashing service to the pool operator (essentially leasing your hashpower to them), and they are paying you for that service with some of the bitcoins that THEY earn

I failed to include it on purpose. Both mining for a pool and solo-mining are services; one for the pool and the other for the network. I just believe this kind of service deserves to fit an upper category, because it is more abstract. Just as you make a distinction between "selling services" and "finding a job for an employer", or "selling services" and "exchanging currencies". Both working for an employer and selling currencies are services; you just found it more proper to distinguish them.

In my opinion, though, those bitcoins already exist in concept. They were "created" by Satoshi when he created the code that allows them to exist in the blockchain.

Allowing something to exist and existing isn't the same, though. If all miners suddenly shut their ASICs down, there won't be these bitcoins you consider existent.

[Bushdark]

The best way to acquire Bitcoin is to buy from a centralized exchange just like we have Binance, Huobi, Remitano, Coinbase etc so that your funds can be safe and it will prevent your from ending up been scammed mostly from people that may claim to sell Bitcoin most online. What you need to do is to register an account on any of this platforms so that you can buy with your local currency through peer to peer method which I think would be more safer for you.

There some reputable persons here that can swap there Bitcoin with you for your local currency but you will need to be careful and use a reputable seller or preferably using an escrow so that you fund would be safe.