How easy was it to buy Bitcoin back in 2011?

[DrG]

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF.  Bitcoin went from $33 to $2.  Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now.  If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight.  I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

[Tammy Chan]

I expect it to go down. Once all have been mined it may grow in value some. What percentage have been mined so far?

You can check https://btc.blockr.io/ for that. At this moment, the figure is 62.23%

Coins in circulation
13,067,325
of ~21 Million (62.23%)

[Tammy Chan]

I`m planning to buy btc, and it seems a lot harder since theres so much verifications, esp coinbase.

And linking to bank account etc.

You can buy some with localbitcoins, this way you don't have to worry about banks, just contact your seller and pay him.

I was going to use localbitcoins when I first got involved, but the person selling wanted an extra 10% on top of btc price. I figured it was worth it to go ahead and set up an account with coinbase and not have to pay that ridiculous extra charge.

10%? That is pretty bad.
I can find a few traders on localbitcoins in my city with over 100+ good feedback selling bitcoin at about 3-5% premium.

[polynesia]

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF.  Bitcoin went from $33 to $2.  Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now.  If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight.  I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

Sold it at $7? Hope it wasn't a significant portion of your holding. 

[wolfYella]

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF.  Bitcoin went from $33 to $2.  Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now.  If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight.  I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

I don't think any of the exchanges really had Id or KYC requirements, but MyGox was by far the larggest exchange and didn't have any major competition.

[DrG]

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF.  Bitcoin went from $33 to $2.  Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now.  If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight.  I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

Sold it at $7? Hope it wasn't a significant portion of your holding. 

Yes it was a large part of my holding but I was mining and the wife wanted me to break even on the little monsters that invaded her office and made it unbearably hot 

[DrG]

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF.  Bitcoin went from $33 to $2.  Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now.  If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight.  I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

I don't think any of the exchanges really had Id or KYC requirements, but MyGox was by far the larggest exchange and didn't have any major competition.

Well Tradehill was there - and they died in a fiery mess with Dwolla.  Then there was Zhou Tong and his lovely options platform that people lost a lot in.

MtGox asked for documents in 2012 after Tradehill went down and Dwolla started giving them trouble.  People had to wait up to 3 months for a Dwolla transfer even with ID.

[Traffic4u]

I used nanaimogold to get bitcoin at that time. Buy it with Liberty reserve.

[polynesia]

Yes it was a large part of my holding but I was mining and the wife wanted me to break even on the little monsters that invaded her office and made it unbearably hot 

Aah... For miners, somehow I feel it is different. 

[coinbuyer]

I used nanaimogold to get bitcoin at that time. Buy it with Liberty reserve.

wao i used nanaimogold once they are good but the best in rates is www.mybitcoinsusa.com even till now they are the best their btc rate now is 555 usd. they have best support also.

[Mageant]

Hi everyone!

This thread made me smile, laugh and cry 

I started this month 

is it too late ? 

2017 = 1BTC=2700$

It's never too late to get into Bitcoin. Bitcoin is on an exponential curve. That means you only have to wait somewhat longer than others.

[Eric Cartman]

There was a time when you could get several bitcoins by fauceting and with giveaways.

Better than buy.

[zoomzoom]

There was a time when you could get several bitcoins by fauceting and with giveaways.

Better than buy.

Entirely speculative though, the faucets were still giving away the same value they are now, maybe slightly more cos of the ease of mining back then. I'd say it hasn't really changed too much, localbitcoins has been around for ages and has mostly been a rip-off but is the easiest way to buy BTC for most people.

[sukiho]

Back then, there are only few people believes in Bitcoin, most of the people thinks that bit coin is another way to scam money. I wonders what they think about Bitcoin now 

[wildlandlord]

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. 

Holly cow, I was 13 y.o. I just didn't know about BTC. I knew some people who get a huge profit because they were smart to note the BTC trend and invest a few cents in BTC. But I guess it's not too late...

[Wayan_Pedjeng]

I am not sure, but back then there were not many Bitcoin exchanges around. And it was not easy to deposit fiat currency in exchanges such as Mt Gox and BTC-e. The easiest option was Localbitcoins, where you could purchase Bitcoins by bank transfer.

[Skillboard]

It was somewhat easier to buy when Mt Gox didn't have any ID requirements but that's also when SHTF.  Bitcoin went from $33 to $2.  Imagine if $33 was like the $1200 last year, the $2 (Jan 2012) would be $72 now.  If BTC started tanking from $500 to $72 over a 5 month period would you have the guts to buy in at $72?

Everything is easier in hindsight.  I didn't sell on the way down to $2, but I did sell on the way back up to $7 lol. Damn that wife.

lol, sold her as well?

[kairo8758]

I was once buy 1 btc using liberty reserve and it was quite easy
Stupidly didn't know anything about bitcoin as investment, probability of increasing price, etc. 
Now it seems skyrocketing!

[mvidetto]

2011.. Such a good time for BTC. Unfortunatelly, I wasn't such a big fan of BTC at that moment.

[doothewop]

I think the first time I actually bought BTC I had to go buy Linden
dollars, and then convert that to BTC. Jumping in and out of
Second Life to use their in-world ATMs in order to make the deal
go through. Losing what would now be hundreds of dollars in the
process. Yeah, maybe it's slightly easier now. I haven't actually bought
BTC in a couple years at this point. Nowadays I find it easier to buy Doge
then convert to BTC, saves a bundle on the stupid fees.

Remember when we thought we wouldn't have to pay fees?