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Author Topic: How does trading using bitcoins actually work?  (Read 913 times)
deadlyunknown (OP)
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November 02, 2012, 05:46:02 AM
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Please give me a brief and simple (noobish) explanation on how to do it?


I want to know more with your own experience about trading with bitcoins Smiley

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Fjordbit
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November 02, 2012, 06:02:46 AM
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Please give me a brief and simple (noobish) explanation on how to do it?

I want to know more with your own experience about trading with bitcoins Smiley

Mostly I've ordered stuff on Bitmit. Bitmit escrows the coins, the sellers send stuff in the mail and when I receive it I release the coins.

I've also sold some stuff on here, with and without escrow. With escrow, I used btcrow. Otherwise, I just PMed my address and people sent me coins and I sent them stuff.

Is that enough, or do you have specific questions.
deadlyunknown (OP)
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November 02, 2012, 06:19:20 AM
 #3

Please give me a brief and simple (noobish) explanation on how to do it?

I want to know more with your own experience about trading with bitcoins Smiley

Mostly I've ordered stuff on Bitmit. Bitmit escrows the coins, the sellers send stuff in the mail and when I receive it I release the coins.

I've also sold some stuff on here, with and without escrow. With escrow, I used btcrow. Otherwise, I just PMed my address and people sent me coins and I sent them stuff.

Is that enough, or do you have specific questions.


Thank you for your explanation, it's very helpful for me about bitmit, but what is escrow??  Huh
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November 02, 2012, 06:53:13 AM
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Escrow just means that a third party holds onto the coins until the goods have arrived and the buyer is satisfied. It prevents "sellers" from scamming coins from people by not sending the expected items.
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