Buying BTC.... WTF?!

[CryptoKnight]

I have been trying to find a way to buy BTC but ive been on 3 sites where they want $160+

I am predicting a BTC crash, not only is it a pain in the sack to buy them you get gouged by the prices and fees

This seems to be a HUGE hurdle BTC is going to have to get over (getting USD into BTC effectively, anonymously)

it costs something like .000x BTC worth of electricity to generate 1 BTC

I can only assume the only reason BTC maintains ~$140 price is because the majority of coins are held by a few people

BTC has become what it was meant to combat

bring on the flames...

[flbtlgx]

Go through Coinbase.com

I know of quite a few people who have went through them and it's really not that hard to setup. It also doesn't require boatloads of information like MtGox does. They have one of the easiest to navigate interfaces and also allow for easy integration with an authenticator you can setup on your phone.

[cbhelp]

Coinbase has great rates, and is super easy.

[nobbynobbynoob]

Bitcoin price is about 124 USD at the moment. Mt Gox prices are now somewhat divorced from reality, due to their banking and regulatory troubles.

I hear good things spoken about Coinbase in the US. For small purchases, you can try Bittylicious in the UK. LocalBitcoins allows you to trade with anyone and is worldwide.

To use a major exchange such as Bitstamp or Mt Gox, you will have to register and supply AML information first. Don't blame those companies for that, blame government.

[mobile]

I have been trying to find a way to buy BTC but ive been on 3 sites where they want $160+

https://campbx.com/ is another option and is trading @125.93 at the time of writing. Mail them a check, ACH wire transfer or use dwolla.

I am predicting a BTC crash, not only is it a pain in the sack to buy them you get gouged by the prices and fees

Sure BTC is sitting in a weekly/monthly high but I remember buying BTC @7$ & then @30$ thinking it was over priced. Months after the bulls peaked it out at $250.

it costs something like .000x BTC worth of electricity to generate 1 BTC

With the arrival of ASICs, the cost of electricity is not so much the problem with getting ROI but the sheer increase in difficulty that we are seeing & going to continue seeing. Its an Arms Race.

I can only assume the only reason BTC maintains ~$140 price is because the majority of coins are held by a few people

Sure the early adopters of BTC & whales with big pockets (ie: The Winklevoss brothers http://techcrunch.com/2013/07/01/cameron-and-tyler-winklevoss-file-for-20-million-ipo-of-their-bitcoin-trust/ have potential to influence the market but even among the 50 or so mega holders of BTC, there are millions of double & single digit BTC holders. Your comment alone shows there is a demand for BTC. You can really see the demand here --> http://trading.i286.org/

[MAbtc]

I'd make a deal P2P. It can be nice to buy codes as well if you feel more comfortable holding fiat until you hit your buy target.

[mobile]

I'd make a deal P2P. It can be nice to buy codes as well if you feel more comfortable holding fiat until you hit your buy target.

Speaking of P2P, I was amazed at the demand , when I posted a simple localbitcoin ad in my area. I first started at a 15%+ MtGox price. I got so many responses it was overwhelming. I began to believe that I was trading them too cheap. Even after 20%+ I was getting tons of people wanting to trade.

[Subud!]

First buy perfect money then deposit it to btc-e or crypto-trade then buy bitcoin at cheap rate.

[tspacepilot]

I have been trying to find a way to buy BTC but ive been on 3 sites where they want $160+

I am predicting a BTC crash, not only is it a pain in the sack to buy them you get gouged by the prices and fees

This seems to be a HUGE hurdle BTC is going to have to get over (getting USD into BTC effectively, anonymously)

it costs something like .000x BTC worth of electricity to generate 1 BTC

I can only assume the only reason BTC maintains ~$140 price is because the majority of coins are held by a few people

BTC has become what it was meant to combat

bring on the flames...

I wonder why you want to bring on the flames.

The other thing I note is that you can also get bitcoins by working for them.  Not only by selling fiat.  Maybe it is near 140$ because of people salaries too.

[electriczap4]

I'd make a deal P2P. It can be nice to buy codes as well if you feel more comfortable holding fiat until you hit your buy target.

Speaking of P2P, I was amazed at the demand , when I posted a simple localbitcoin ad in my area. I first started at a 15%+ MtGox price. I got so many responses it was overwhelming. I began to believe that I was trading them too cheap. Even after 20%+ I was getting tons of people wanting to trade.

And yet I got no responses at ~8% above gox.

[mobile]

I'd make a deal P2P. It can be nice to buy codes as well if you feel more comfortable holding fiat until you hit your buy target.

Speaking of P2P, I was amazed at the demand , when I posted a simple localbitcoin ad in my area. I first started at a 15%+ MtGox price. I got so many responses it was overwhelming. I began to believe that I was trading them too cheap. Even after 20%+ I was getting tons of people wanting to trade.

And yet I got no responses at ~8% above gox.

Perhaps I lucked in my location, the closest major city being 1 hour. The time spent arranging meetups, being stood up & the whole works proved to not be as profitable with the time invested & sudden price increases. I did however suspect that most of my buyers were going to use their BTC for SR , thus creating their high demand. At any rate...BTC can be purchased easily compared to a few years ago. No need to pay above market rates.

[WillyBTC]

+1 for p2p. only way to go! 

[Buffer Overflow]

I have been trying to find a way to buy BTC but ive been on 3 sites where they want $160+

The price is irrelevant. For example if you wanted to purchase say $20 worth of goods online with Bitcoins, you would only send $20 worth of Bitcoins. You don't have to buy a whole Bitcoin you know.

[CryptoKnight]

I have been trying to find a way to buy BTC but ive been on 3 sites where they want $160+

I am predicting a BTC crash, not only is it a pain in the sack to buy them you get gouged by the prices and fees

This seems to be a HUGE hurdle BTC is going to have to get over (getting USD into BTC effectively, anonymously)

it costs something like .000x BTC worth of electricity to generate 1 BTC

I can only assume the only reason BTC maintains ~$140 price is because the majority of coins are held by a few people

BTC has become what it was meant to combat

bring on the flames...

I wonder why you want to bring on the flames.

The other thing I note is that you can also get bitcoins by working for them.  Not only by selling fiat.  Maybe it is near 140$ because of people salaries too.

i figured most peoples views here would be in sharp contrast to mine, seems no one felt to strongly about it XD

[BitNit]

bitcoin will never be mainstream when you can't buy it fast and easy, not to mention you have to BUY it.

[b!z]

bitcoin will never be mainstream when you can't buy it fast and easy, not to mention you have to BUY it.

If you don't want to buy it, you can sell things to get BTC, or mine.

[Buffer Overflow]

bitcoin will never be mainstream when you can't buy it fast and easy, not to mention you have to BUY it.

The more businesses that accept Bitcoin the less you will need to buy Bitcoin.

You have to remember, Bitcoin is not even a baby. It's still in embryo stage.

[marcovaldo]

If you are from Europe, you should use bitstamp.

[mobile]

bitcoin will never be mainstream when you can't buy it fast and easy, not to mention you have to BUY it.

You cant buy it fast & easily? Really? Do you have limited Internet connectivity?
When you travel to europe, do you not BUY Euro's? Im not following you...

[marcovaldo]

bitcoin will never be mainstream when you can't buy it fast and easy, not to mention you have to BUY it.

You cant buy it fast & easily? Really? Do you have limited Internet connectivity?
When you travel to europe, do you not BUY Euro's? Im not following you...

You can go to any ATM and get euros within seconds in Europe.
You can't get any bitcoins within days.