Bitcoin Forum
June 23, 2024, 10:25:58 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: The stork brings bitcoins right?  (Read 622 times)
oOpheliaOo (OP)
Newbie
*
Offline Offline

Activity: 6
Merit: 0



View Profile
April 11, 2013, 01:55:22 AM
 #1

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 Smiley
Peleus
Member
**
Offline Offline

Activity: 112
Merit: 100


View Profile
April 11, 2013, 01:59:28 AM
 #2

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.
oOpheliaOo (OP)
Newbie
*
Offline Offline

Activity: 6
Merit: 0



View Profile
April 11, 2013, 02:04:44 AM
 #3

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.... Smiley
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!