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Author Topic: Like the idea but getting discouraged...  (Read 1874 times)
FlyingMoose
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November 08, 2010, 04:42:07 AM
 #1

I really like the idea of bitcoin, I think it will be looked back on like the invention of the light bulb.

But, I don't seem to have a good way to get some bitcoins.  I have .05 from the faucet, and I appreciate that, but I'd like to get a larger amount.

I'm running the generator on my computer, but the calculator says it will take on average several months to generate a single block, and the difficulty will probably keep going up so I'll never get one.

I wanted to buy some from Mt. Gox, so I signed up there, and then I have to sign up for Liberty Reserve to fund it.  Then it turns out the only way I can do that is through ANOTHER third party, who only wants to accept money from other "internet currencies" which are only available from internet currency exchangers.  In other words, if I want to pay in USD, there seems to be absolutely no starting point to get it into the system.

There are people offering to sell bitcoins for cash in the mail, but who knows what they'll do if the exchange rate varies while it's in the mail.

It's extremely frustrating.
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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BitLex
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November 08, 2010, 05:06:40 AM
 #2

what options do you have, any "internet currencies" you already use anyway?
skills or products to sell for bitcoins, like prepaid debit-/creditcards?
people like to buy stuff, makes bitcoins useful too, so think about selling stuff instead of buying coins.

all just depends on what you've got and what you want.

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November 08, 2010, 05:52:00 AM
 #3

There are people offering to sell bitcoins for cash in the mail, but who knows what they'll do if the exchange rate varies while it's in the mail.

It's extremely frustrating.

Well, if gaining bitcoins was very easy, it wouldn't worth that much, would it ?

Yes, it is not as easy as buying some shoes.  Because bitcoins seller will not be very happy to use current paiement method (credit cards and stuffs).  So you have to accept some risk.  Personnaly I bought my first bitcoins with cash in the mail.  I lost 10$ trying to deal with bitcoin2cash.  I succeeded in buying for 30$ though, with bitcoin4cash.

You can consider selling real stuffs for bitcoins.  I sold some linux stickers (you want some ?  PM me) for 40 BTC.  I also sold some silver and 7 grams of gold.

Earning money is no easy task.  If you find a good way to do it, let me know.
theymos
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November 08, 2010, 05:53:07 AM
 #4

If you had BTC, would you sell it for something that might be reversed later on? Like Liberty Reserve and Pecunix, bitcoins can only be sold safely using non-reversible methods such as wire transfer, Western Union, and cash.

You could probably get someone to sell you small amounts of BTC for paypal on #bitcoin-otc.

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Anonymous
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November 08, 2010, 07:26:39 AM
 #5

Do you use amazon? If you regularly shop there I have a deal where you get %1 of your purchase back in bitcoins simply for shopping through the links on  the site. Im currently updating the site with other deals to follow the same idea.

Latest ones-

Popcap games %5
Buy.com  %1

etc.....
BrightAnarchist
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November 08, 2010, 08:09:19 AM
 #6

I really like the idea of bitcoin, I think it will be looked back on like the invention of the light bulb.

But, I don't seem to have a good way to get some bitcoins.  I have .05 from the faucet, and I appreciate that, but I'd like to get a larger amount.

I'm running the generator on my computer, but the calculator says it will take on average several months to generate a single block, and the difficulty will probably keep going up so I'll never get one.

I wanted to buy some from Mt. Gox, so I signed up there, and then I have to sign up for Liberty Reserve to fund it.  Then it turns out the only way I can do that is through ANOTHER third party, who only wants to accept money from other "internet currencies" which are only available from internet currency exchangers.  In other words, if I want to pay in USD, there seems to be absolutely no starting point to get it into the system.

There are people offering to sell bitcoins for cash in the mail, but who knows what they'll do if the exchange rate varies while it's in the mail.

It's extremely frustrating.

True. Buying or selling Bitcoins used to be easy back when they were 6 cents each a few months ago (I bought some on mtgox using a credit card, took about 2 minutes). Now it's essentially impossible to buy them.

Of course, this means there's a big opportunity for someone who can solve the problem.
caveden
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November 08, 2010, 08:34:12 AM
 #7

In the euro zone you have the chance of buying through bank transfer with bitcoinexchange. But it has the same problem you mention for cash-in-the-mail, you're not sure what will be the price when your transfer reach their account.

I've suggested them (and bitcoin*cash could do the same) to add a price prediction feature, trying to estimate what the price will be if your transfer/mail arrive just after all other orders already done and which weren't received yet. It's a prediction that may not be verified, but at least it's better than nothing.

The main problem with dollars, as already said, is that conventional internet payments (CC, paypal) have charge-backs, while bitcoins don't. I wonder why there aren't insurances for that yet.

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matonis
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November 08, 2010, 08:56:42 AM
 #8

These guys let you get into the system with VISA and MC: http://centregold.ca/
....also, their fees are even lower if you fund with Amex.....you just have to look around at the various 800+ exchangers out there.....a good starting point is the approved exchanger list at Liberty Reserve.

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I also cover the bitcoin economy for Forbes, American Banker, PaymentsSource, and CoinDesk.
Anonymous
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November 08, 2010, 09:04:16 AM
 #9

I suppose if someone sent me an Amazon gift card I could send them bitcoins in return...

I can then pass it on to one of my customers.  Grin

For instance I have 350 bitcoins so what would you offer for them?


Actually I started a new topic because its a great idea  Cheesy
http://bitcointalk.org/index.php?topic=1693.msg20609;topicseen#msg20609   

353 btc   for $120 gift card.

Anonymous
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November 08, 2010, 09:18:30 AM
 #10

These guys let you get into the system with VISA and MC: http://centregold.ca/
....also, their fees are even lower if you fund with Amex.....you just have to look around at the various 800+ exchangers out there.....a good starting point is the approved exchanger list at Liberty Reserve.

Hello matonis
Welcome to the forums.

 Wink
ShadowOfHarbringer
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November 08, 2010, 10:11:11 AM
 #11

These guys let you get into the system with VISA and MC: http://centregold.ca/
....also, their fees are even lower if you fund with Amex.....you just have to look around at the various 800+ exchangers out there.....a good starting point is the approved exchanger list at Liberty Reserve.

I would be careful with them trading bigger amounts of money... they are yellow on WOT.
http://www.mywot.com/en/scorecard/centregold.ca

Caution is advised.

Also, see this topic:
http://www.talkgold.com/forum/showthread.php?t=258133&page=1

EDIT:
This actually looks worse than i expected:
http://www.talkgold.com/forum/showthread.php?t=258133&page=5

It is probably a scam.

Timo Y
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November 08, 2010, 10:45:12 AM
 #12

I really like the idea of bitcoin, I think it will be looked back on like the invention of the light bulb.
I wanted to buy some from Mt. Gox, so I signed up there, and then I have to sign up for Liberty Reserve to fund it.  Then it turns out the only way I can do that is through ANOTHER third party, who only wants to accept money from other "internet currencies" which are only available from internet currency exchangers.  In other words, if I want to pay in USD, there seems to be absolutely no starting point to get it into the system.

Exchanging any revocable currency into an irrevocable currency means a certain inevitable exposure to the risk of fraud.  Hence the reluctance.

This is a fundamental problem of internet commerce that is not limited to Bitcoin. 

Trust networks could solve this problem, however, such technologies are still in their infancy just like Bitcoin.

Quote
There are people offering to sell bitcoins for cash in the mail, but who knows what they'll do if the exchange rate varies while it's in the mail.

It's extremely frustrating.


The two exchanges I've used, Nanaimo Gold and Bitcoin4Cash, will use the exchange rate from the day your letter is stamped.

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theymos
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November 08, 2010, 01:20:23 PM
 #13

I would be careful with them trading bigger amounts of money... they are yellow on WOT.
http://www.mywot.com/en/scorecard/centregold.ca

Caution is advised.

Also, see this topic:
http://www.talkgold.com/forum/showthread.php?t=258133&page=1

EDIT:
This actually looks worse than i expected:
http://www.talkgold.com/forum/showthread.php?t=258133&page=5

It is probably a scam.

Centregold is perfectly safe. See my comment on the MyWOT page from several months ago.

It is TalkGold that is the scam.
http://www.scam.com/showthread.php?t=12734

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ShadowOfHarbringer
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November 08, 2010, 02:55:24 PM
 #14

I would be careful with them trading bigger amounts of money... they are yellow on WOT.
http://www.mywot.com/en/scorecard/centregold.ca

Caution is advised.

Also, see this topic:
http://www.talkgold.com/forum/showthread.php?t=258133&page=1

EDIT:
This actually looks worse than i expected:
http://www.talkgold.com/forum/showthread.php?t=258133&page=5

It is probably a scam.

Centregold is perfectly safe. See my comment on the MyWOT page from several months ago.

It is TalkGold that is the scam.
http://www.scam.com/showthread.php?t=12734

Actually You are completely right.
I didn't bother checking them on wot first, before giving opinions.

So many scam reports, this is just juicy and delicious:

http://www.mywot.com/en/scorecard/talkgold.com

So i guess centregold will be probably safe.

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November 08, 2010, 03:09:04 PM
 #15

I obviously haven't been paying attention to the MTGox situation because I didn't realize it was so hard to get USD into and out of the system.  I had joined before the MTGox stopped accepting PayPal so I was already in the bitcoin economy.

So this thread prompted me to check things out.

This morning I setup a Liberty Reserve account to withdraw some USD from my MTGox account.  After setting up my LR account I went to MTGox to make a withdrawl and got this message:

Quote
Withdraw via Liberty Reserve is currently offline. Please try again tomorrow. Sorry for the inconvenience.

Is this just a periodic thing, or have others experienced this frequently?

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SmokeTooMuch
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November 08, 2010, 03:25:48 PM
 #16

I wanted to buy some from Mt. Gox, so I signed up there, and then I have to sign up for Liberty Reserve to fund it.  Then it turns out the only way I can do that is through ANOTHER third party, who only wants to accept money from other "internet currencies" which are only available from internet currency exchangers.  In other words, if I want to pay in USD, there seems to be absolutely no starting point to get it into the system.
Just use https://bitcoinmarket.com instead. You can pay via PayPal, Moneybookers, Liberty Reserve and Pecunix.

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Bimmerhead
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November 08, 2010, 03:38:29 PM
 #17


Just use https://bitcoinmarket.com instead. You can pay via PayPal, Moneybookers, Liberty Reserve and Pecunix.

Bitcoinmarket is not accepting new registrations.

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FreeMoney
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November 08, 2010, 05:02:10 PM
 #18

I obviously haven't been paying attention to the MTGox situation because I didn't realize it was so hard to get USD into and out of the system.  I had joined before the MTGox stopped accepting PayPal so I was already in the bitcoin economy.

So this thread prompted me to check things out.

This morning I setup a Liberty Reserve account to withdraw some USD from my MTGox account.  After setting up my LR account I went to MTGox to make a withdrawl and got this message:

Quote
Withdraw via Liberty Reserve is currently offline. Please try again tomorrow. Sorry for the inconvenience.

Is this just a periodic thing, or have others experienced this frequently?

It has been down for over a week. He said he thought it would be available Thursday the 4th, but no update since then that I can see.

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