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Author Topic: It is so F*king hard to buy bitcoin.  (Read 1735 times)
twolifeinexile
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April 08, 2013, 05:01:01 PM
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Probably that is why it is skyrocketing non stop. I just want to buy back some BTC that I may lose due to instawallet (still hoping to claim them back) , MtGox takes 4days for dwalla, OTC ask 3~5% premium, coinbase is running out of inventory.


In this environment, how someone even call it a top? (Maybe just because of this "frenzy"?)
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April 08, 2013, 05:23:21 PM
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The exchange I use took only a couple of hours for my bank deposit to show up in my trading account about three weeks ago. Today they announced that due to increased interest, deposits will take about three days to go through. So there is a lot more money coming into bitcoin shortly.
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April 08, 2013, 05:40:04 PM
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I had a SEPA transfer to BitStamp credit in 10 hours.
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April 08, 2013, 05:43:30 PM
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Virwox takes PayPal - instant deposit.
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April 08, 2013, 05:46:25 PM
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Probably that is why it is skyrocketing non stop. I just want to buy back some BTC that I may lose due to instawallet (still hoping to claim them back) , MtGox takes 4days for dwalla, OTC ask 3~5% premium, coinbase is running out of inventory.


In this environment, how someone even call it a top? (Maybe just because of this "frenzy"?)

My credit union is integrated with Dwolla...my funds are there in less than an hour. Guess I'm just lucky?

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April 08, 2013, 05:48:56 PM
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Virwox takes PayPal - instant deposit.

How do they mitigate the risk? I would be suspicious if there wasn't some pretty strict limits in place.
Crazy
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April 08, 2013, 05:50:46 PM
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I thought Paypal wasn't allowed to be used in connection with this sort of thing.
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April 08, 2013, 05:58:23 PM
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Virwox takes PayPal - instant deposit.

How do they mitigate the risk? I would be suspicious if there wasn't some pretty strict limits in place.

I'm not certain, but I believe they impose strict limits, verification requirements (AML) and hefty fees.

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randrace
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April 08, 2013, 06:08:55 PM
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For me (I'm in the US), the quickest way to get BTC is through bitfloor via cash deposit in a LocalTill bank account at BofA. It is risky, however.
JimiQ84
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April 08, 2013, 07:21:39 PM
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Virwox takes PayPal - instant deposit.

How do they mitigate the risk? I would be suspicious if there wasn't some pretty strict limits in place.

You don't pay for bitcoins in "paypal money". At first you deposit USD or EUR from paypal and with that you buy SLL (Second life lindens) and with those you buy BTC. It's like scratching your left ear with right hand, but it's quick. (And expensive on fees)
ehoffman
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April 08, 2013, 08:17:22 PM
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Still less expensive than buying them in Canada with Virtex...  For example, you currently have to pay then 206~210$ (Price is now 190$ on Gox).  If you can transfer to BTCe, it's 175$ there!

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Chalkbot
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April 08, 2013, 08:20:35 PM
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Virwox takes PayPal - instant deposit.

How do they mitigate the risk? I would be suspicious if there wasn't some pretty strict limits in place.

You don't pay for bitcoins in "paypal money". At first you deposit USD or EUR from paypal and with that you buy SLL (Second life lindens) and with those you buy BTC. It's like scratching your left ear with right hand, but it's quick. (And expensive on fees)

Hmm. I'm not super savvy on lindens, but does incorporating them into the loop help mitigate the risk of a Paypal chargeback somehow? I can't imagine that it would...
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April 08, 2013, 09:11:27 PM
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Is there a central location that explains the steps it takes to convert your dollars to bitcoins for the different exchanges?

That would be helpful.

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April 08, 2013, 09:18:48 PM
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There are about 2.8 billion newly created USD every day entering financial system, if they all chase that 3600 coins per day, each coin ends up worth $77777.8

And that is only US, if you combine the out put of China, Japan, Euro area...

twolifeinexile
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April 08, 2013, 09:23:34 PM
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There are about 2.8 billion newly created USD every day entering financial system, if they all chase that 3600 coins per day, each coin ends up worth $77777.8

And that is only US, if you combine the out put of China, Japan, Euro area...
To be honest, I never think US dollar is backed by nothing. US dollar is backed by US Debt.
US Debt is backed by US Tax, US Assets, US Gov's words.
They are problematics, but not means nothing.
Anon136
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April 08, 2013, 09:25:14 PM
 #16

Virwox takes PayPal - instant deposit.

How do they mitigate the risk? I would be suspicious if there wasn't some pretty strict limits in place.

they dont, they just have exorbitant fees. Oh also they only take verified accounts.

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