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semobo
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June 27, 2019, 08:10:10 PM |
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I want to buy some BTC with cash locally, the seller i found says : "send BTC to your wallet. After 1 confirmation On blockchain, collector takes from the table cash."
Is this enough to be sure i will receive the bitcoin sold me? Or its better to wait for 2 confirmations?
if you don't want to invest your time without the help of banks then you can definitely buy the Bitcoin for your currency using local traders or local seller of Bitcoin but I cannot completely say it will be a safe method |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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whirlcoin
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June 27, 2019, 08:41:53 PM |
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I want to buy some BTC with cash locally, the seller i found says : "send BTC to your wallet. After 1 confirmation On blockchain, collector takes from the table cash."
Is this enough to be sure i will receive the bitcoin sold me? Or its better to wait for 2 confirmations?
I think you can buy the Bitcoin using the local method to exchange your money and Bitcoin directly without any bank or wallets and it will be also used by lots of people but we need to be careful in all the time. |
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iMark
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June 28, 2019, 02:15:48 AM |
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I want to buy some BTC with cash locally, the seller i found says : "send BTC to your wallet. After 1 confirmation On blockchain, collector takes from the table cash."
Is this enough to be sure i will receive the bitcoin sold me? Or its better to wait for 2 confirmations?
To be safe you need to wait to get 1 confirmation first, because the transaction might fail and the funds return to the seller if you haven't received a confirmation, make sure that there is an entry funds in your wallet first. |
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LimLims
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June 28, 2019, 02:33:47 AM |
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Once BTC is sent to blockchain, it is veey hard to retrieve it back.
At some point of time it's completely impossible to get back the bitcoins sent to blockchain.
So it's fine when it gets around 1 confirmation.
But to be on safer hand, i can recommend you to use localbitcoins.com to buy bitcoins.
It's really easy and the support also very good to helo you out in trouble issues.
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Lawrenzoo
Jr. Member
 Offline
Activity: 378
Merit: 2
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June 28, 2019, 01:16:00 PM |
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I want to buy some BTC with cash locally, the seller i found says : "send BTC to your wallet. After 1 confirmation On blockchain, collector takes from the table cash."
Is this enough to be sure i will receive the bitcoin sold me? Or its better to wait for 2 confirmations?
I am not sure there is any option for cancel in payment transaction |
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Potchi
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June 28, 2019, 03:09:14 PM |
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If you want to buy btc with cash it is better to find first a local wallet that could provide you an option to buy bitcoin directly to the application. It is fast and reliable for you to find this type of wallet or trading application for you to avoid scam.
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nik009
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June 28, 2019, 05:12:21 PM |
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2-3 confirmations would be enough not to worry about your funds but to buy BTC with $65k cash is too risky.
It is better to choose localbitcoins and buy a much smaller amount of Bitcoin at once.
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legenduim
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June 28, 2019, 07:48:18 PM |
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I want to buy some BTC with cash locally, the seller i found says : "send BTC to your wallet. After 1 confirmation On blockchain, collector takes from the table cash."
Is this enough to be sure i will receive the bitcoin sold me? Or its better to wait for 2 confirmations?
if you don't want to invest your time without the help of banks then you can definitely buy the Bitcoin for your currency using local traders or local seller of Bitcoin but I cannot completely say it will be a safe method Digital money should be better bought online, not with cash. First, it is extremely difficult to find someone who is ready to sell his Bitcoin to a stranger, secondly, the exchanges rates can be better. |
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RealMalatesta
Legendary
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Activity: 2338
Merit: 1124
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July 01, 2019, 07:33:44 AM |
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I want to buy some BTC with cash locally, the seller i found says : "send BTC to your wallet. After 1 confirmation On blockchain, collector takes from the table cash."
Is this enough to be sure i will receive the bitcoin sold me? Or its better to wait for 2 confirmations?
I am not sure there is any option for cancel in payment transaction The only option for cancelling transaction that I know for now is only wen order is being placed in an exchange for trade, and if you are not even fast enough, part of the order may have been filled already which will be difficult for it to be retracted, and I think in the case of sending payment, it would be impossible for any sender to cancel the transaction was confirmation is being done already. It was even a risk on the part of the sender or now receiving cash first before sending BTC, most exchanges whether locally or through their online platform would collect their money first and be sure that the fiat equivalent of what the receiver is requesting for is accurate before sending the money, I guess sender just did this in order to win him to his side. |
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adaseb
Legendary
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Activity: 3752
Merit: 1709
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July 01, 2019, 07:50:50 AM |
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I remember years ago before Bitcoin ATMs and before Bitcoin exchanges like Coinbase the only way to buy and sell BTC was locally.
The issue I had was that even though fees were very low, and you only had to include a 10000 Satoshi fee which was like 5 cents back then. There was no gaurantee that the next block would be found in the next 10 minutes.
There was one time where I had to wait almost 2 hours for a transaction to confirm just once before me and the buyer/seller could part ways. It wasn't a back log or anything it was just luck where prior to the meet blocks were found quicker and then after the meet the blocks took longer to find.
This is the only issue you might encounter, but 1 confirmation is enough as long as you are trading BTC and not some coins with less hashpower and might be prone to 51% attacks, but even those are rare these days to happen. So you should be safe.
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jigzaheedcoin
Member
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Activity: 194
Merit: 10
☀️ Iskra Coin ☀️
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July 01, 2019, 08:24:33 AM |
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It's hard to find legit seller of btc using cash payments, but if someone will refer a person make sure to gather complete information to who your dealt with. Cash buying of btc is good only for meet up transactions, but if you wanted to do it digitally there's a lot of local money remittances that you could easily deposit cash transactions. Use a legit online wallet to store cash which you're going for buying btc at exchanges.
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1Referee
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Activity: 2170
Merit: 1427
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July 01, 2019, 01:25:33 PM |
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There was one time where I had to wait almost 2 hours for a transaction to confirm just once before me and the buyer/seller could part ways. It wasn't a back log or anything it was just luck where prior to the meet blocks were found quicker and then after the meet the blocks took longer to find.
It's impossible to time hashrate shifts causing block times to slow down, but I have to say that while it's not entirely uncommon, it doesn't happen very often that there aren't any blocks found for 2 hours. In all my years here I have never had to wait for 2 hours to see a block come through for my transactions. In general, some times you get like 3 confirmations in 10 minutes, and some times no confirmation in 50-60 minutes. Luck is definitely a factor. This is the only issue you might encounter, but 1 confirmation is enough as long as you are trading BTC and not some coins with less hashpower and might be prone to 51% attacks, but even those are rare these days to happen. So you should be safe.
I wouldn't say 51% attack on low hashrate altcoins are rare. There is a lot happening in the altcoin space that news outlets don't pick up, but that doesn't mean that it doesn't happen.  |
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btc78
Full Member
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Activity: 2492
Merit: 212
Eloncoin.org - Mars, here we come!
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July 01, 2019, 02:14:04 PM |
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Well im putting down 65000$ so kinda worried  lol that’s kind of big amount so being worried is part of the story I guess 😂😂😂 But hope you had already received the bitcoin by now and also maybe you can lock this thread since your questions had been answered .so the spamming will Be prevented on this side If you want to buy btc with cash it is better to find first a local wallet that could provide you an option to buy bitcoin directly to the application. It is fast and reliable for you to find this type of wallet or trading application for you to avoid scam.
Yeah but I think is late to tell since the post was created month ago mate,but I support your suggestion since this is one of the most helpful from other advices |
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Indamuck
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July 01, 2019, 04:33:46 PM |
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2-3 confirmations would be enough not to worry about your funds but to buy BTC with $65k cash is too risky.
It is better to choose localbitcoins and buy a much smaller amount of Bitcoin at once.
It isn't risky, just do it at a local police station or at a bank. They let people come in and do big cash deals like this all the time. They will even check and make sure the money isn't counterfeit for you. Police are paid with tax dollars to serve the public while banks will do this to help bring you in as a new customer. |
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Irvinn
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July 03, 2019, 08:05:58 PM |
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and what if the state has not yet implemented cryptocurrency, and in some cases there are real bans on the use of Bitcoin? It seems to me that you need to conduct a Bitcoin purchase using online resources, where it is hard to trace your activity using cryptocurrency.
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iamzill
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July 03, 2019, 09:35:42 PM |
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it might be better to wait for 2-3 confirmations and ensure that btc has entered your wallet. I think this can be a convincing thing if indeed BTTC is in your hands
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marcuslong
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Activity: 1036
Merit: 1002
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July 03, 2019, 10:44:06 PM |
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Do a personal transactions when you buy btc with cash and it can be done wallet scan of qr code of the person whose willing to sell his btc. Cash options is a very safe deals with bitcoin and I don't think there's a possible scam that will happen on that. Be sure to deal only from crypto orientated person.
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