Chokkan (OP)
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July 20, 2014, 01:50:27 PM |
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Were there exchanges back then and did these exchanges accept buyers' money from around the world? How was the process like on Mt. Gox? I'm trying to come up with reasons for why I couldn't buy Bitcoin when they were dirt cheap to make myself feel better for missing out on making a lot of money. Because I read about Bitcoin in 2011 but I didn't pay anymore attention to it and didn't think people would start speculating with it and blow up the way it did  |
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bryant.coleman
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July 20, 2014, 02:42:10 PM |
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I don't know much about 2011, but in 2010 it was extremely easy to buy Bitcoins. Because the most important exchange at that time (New Liberty Standard) accepted both Paypal and CC (Visa / Master). And you won't believe the exchange rates. It was 1$ = BTC1,309.03.  |
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Soros Shorts
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July 20, 2014, 02:42:56 PM |
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It was easy to buy small amounts on Gox without going through AML/KYC back then. I think the limit for unverified accounts was around $1000 USD/day.
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bridgesro
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July 20, 2014, 02:45:21 PM |
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BitInstant was around near the end of 2011, right? That made buying Bitcoin pretty easy.
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Beliathon
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July 20, 2014, 02:51:31 PM |
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If you were into Bitcoin back in 2010-11, you didn't even NEED to buy them because they were so easy to mine. It was like, "run your computer for free money that isn't really worth anything.... yet."
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wpalczynski
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July 20, 2014, 02:57:48 PM |
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Thats quite the exchange rate, wow.
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Bitcoinpro
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July 20, 2014, 03:23:09 PM |
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Were there exchanges back then and did these exchanges accept buyers' money from around the world? How was the process like on Mt. Gox? I'm trying to come up with reasons for why I couldn't buy Bitcoin when they were dirt cheap to make myself feel better for missing out on making a lot of money. Because I read about Bitcoin in 2011 but I didn't pay anymore attention to it and didn't think people would start speculating with it and blow up the way it did yes your right people from the start knew how valuable bitcoins would eventually become though it was still easy to obtain them well into last year for a very decent price |
WWW.FACEBOOK.COM
CRYPTOCURRENCY CENTRAL BANK
LTC: LP7bcFENVL9vdmUVea1M6FMyjSmUfsMVYf
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techman
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Activity: 1020
Merit: 1027
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July 20, 2014, 03:25:12 PM |
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I wish I had more bitcoin from 2011 and 2012
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Bad Uncle
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July 20, 2014, 03:40:55 PM |
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You probably didn't even need an exchange, you could just buy them or trade them on here.
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chaosPT
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July 20, 2014, 03:42:21 PM |
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Theres a guy who selling for paypal name coinpal or something .
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Meuh6879
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Merit: 1011
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July 20, 2014, 03:47:28 PM |
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I don't know much about 2011, but in 2010 it was extremely easy to buy Bitcoins. Because the most important exchange at that time (New Liberty Standard) accepted both Paypal and CC (Visa / Master). And you won't believe the exchange rates. It was 1$ = BTC1,309.03. at this time, virwox allow 1000 euros per day with paypal or CC ... limited to 10 000 euros per month (ID required = Level 4 after xxx months). but fees are ...  |
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shkiser
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July 20, 2014, 03:51:15 PM |
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I was able to buy bitcoin easily from other users and bitinstant. Its much harder for me to buy bitcoin in smaller amounts now, and Im more likely to borrow at interest from a user than go through an exchange or any other method at this moment. If I needed a large amount I would use J socal, Ive dont several cash trades with him
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Catmoonglow
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July 20, 2014, 03:53:34 PM |
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You didnt have to buy it back then, just log into MtGox and take it.
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Panthers52
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July 20, 2014, 03:57:31 PM |
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It was much easier then because most exchanges didn't deal with AML procedures, they just took your word as to who you are. There were also a lot less scammers back then so most exchanges would accept reversible payment methods.
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FUR11
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FURring bitcoin up since 1762
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July 20, 2014, 04:02:58 PM |
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Wasn't it the year when some of the now bigger exchanges like bitstamp emerged? Of course the biggest one operating back then was Mt. Gox. Still functional but even back then riddled with the occasional outage and bigger and bigger incidents...
On the positive side, bitcoin was still small enough so no one cared about KYC and AML laws. Positive for the customers, at least!
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Chokkan (OP)
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July 20, 2014, 06:55:13 PM |
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It was much easier then because most exchanges didn't deal with AML procedures, they just took your word as to who you are. There were also a lot less scammers back then so most exchanges would accept reversible payment methods.
I still don't understand why exchanges have to make it very difficult to buy Bitcoin. I would love to just create an account and buy directly with my visa card at market rates. Can't that be done and still be in accordance with AML procedures? All this personal id verification nonsense and directly connecting your bank account is what is holding back bitcoin and putting off a lot of people. |
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Mageant
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Activity: 1145
Merit: 1001
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July 20, 2014, 07:07:25 PM |
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Were there exchanges back then and did these exchanges accept buyers' money from around the world? How was the process like on Mt. Gox? I'm trying to come up with reasons for why I couldn't buy Bitcoin when they were dirt cheap to make myself feel better for missing out on making a lot of money. Because I read about Bitcoin in 2011 but I didn't pay anymore attention to it and didn't think people would start speculating with it and blow up the way it did yes your right people from the start knew how valuable bitcoins would eventually become though it was still easy to obtain them well into last year for a very decent price Many people saw the potential right away. There were discussion threads during the 2011 bubble that people would be buying mansions and islands for their Bitcoin soon. While that may not have not happened yet, were are still on track for that. |
cjgames.com
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ljudotina
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July 20, 2014, 07:23:28 PM |
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I'm pretty much sure it's happening already. If not happeining that at least there are some ppl that CAN buy Islands and stuff like that with amount of BTC they have (or better say, with par of BTC they have). Some of them out there are filthy rich.
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manfred
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Activity: 966
Merit: 1001
Energy is Wealth
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July 20, 2014, 07:48:41 PM |
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This tread made look up when i got my first bitcoin. 05199 21.06.2011, 20:37:20 khorne 2.6 BTC 11.39 GBP 29.61 GBP Confirmed It was very easy to get the 2.6 BTC on June 2011 and then a total of 111 over the next 3 weeks all paid with paypal. I lost every single one of them. Most on the scamy exchange i left them on, no not gox i got goxxed before the word existed. 0.6 of a bitcoin is stuck until this day on a doggy phone app. |
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