thezerg
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August 03, 2012, 02:00:15 PM |
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[reposting this because it is very relevant]
tl;dr -- it takes about a month or two to bootstrap to the point where you can and are willing to make a real investment
I also think that a lot of you old timers mis-estimate the time and effort it takes for a noobie to bootstrap. It goes something like this:
1. Read about it, overcome the negative stigma that comes with SR, gambling, etc. 2. Make a small investment using bitinstant 3. Learn a ton about the banking system, chargebacks, how FED creates $. 4. Ask all the noobie questions "why can't someone just [print more bitcoins, steal your wallet, turn off the network, make it illegal]". What's it backed by anyway? :-) 5. Read enough about it to stress about all the scammers hacked wallets and failed exchanges, etc. 6. Start the KYC process with an exchange that has about 5000 totally obscure and difficult to use ways to deposit money. 7. Tortuously move small chunks of fiat into the exchange 8. start buying 9. freak out about failed exchanges, possibility of USB stick failure, etc 10. start looking at paper/brain wallets 11. Get your head around the idea of actually holding your own money somewhere 12. Create isolated new install VM to make a paper wallet. You can't outsource this to some client-side web script (if you really want a secure wallet)! 13. TEST the paper wallet concept (requires an entire blockchain sync from scratch). 14. KYC finally comes through! 15. DAMMIT price has doubled :-)
This was my path anyway...
For HNWIs its got to happen with both them AND their advisor (who's gonna do all the work).
So people who might have gotten interested in bitcoin during the Euro financial uncertainty may just now be starting to move from a few hundred BTC trial investment to an actual acquisition strategy.
Lol, that does suck. My method: Read about bitcoin on /. Visit the forum Read the whitepaper Buy Buy Buy Buy Buy Run out of fiat Start earning coins Sell Sell How did you avoid the dwolla 30 day "getting to know you before you can transfer to these sites" issue, and the $500 daily limit before KYC verification comes through?
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RodeoX
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The revolution will be monetized!
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August 03, 2012, 02:05:25 PM |
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Mo peers - Mo money
why does it have to be more complicated than that?
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Hexadecibel
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I still <3 u Satoshi
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August 03, 2012, 06:36:56 PM |
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How did you avoid the dwolla 30 day "getting to know you before you can transfer to these sites" issue, and the $500 daily limit before KYC verification comes through? I recently sent $5k to Mt.gox via bank wire. Took 3 days. Although, it only makes sense for sending those sort of amounts, as it costs something like 60$ total in fees.
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ElectricMucus
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Marketing manager - GO MP
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August 03, 2012, 06:38:45 PM |
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Mo peers - Mo money
why does it have to be more complicated than that?
Because the data suggests otherwise.
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thezerg
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August 03, 2012, 07:42:20 PM |
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How did you avoid the dwolla 30 day "getting to know you before you can transfer to these sites" issue, and the $500 daily limit before KYC verification comes through? I recently sent $5k to Mt.gox via bank wire. Took 3 days. Although, it only makes sense for sending those sort of amounts, as it costs something like 60$ total in fees. Yes it basically works once you've figured it out. But read that Mt. Gox wire info from the perspective of joe average who's probably done 0 bank transfers in his life but maybe 1 or two for house/car. And note that its couched in a page with about 10 other options all of which seem totally oddball. Very few people would read about bitcoin today, read that tomorrow and then sign up to do an international bank wire costing an unknown amount (what's that intermediate bank clause?) to a country they have no hope to recover funds from if it is lost... This is what I mean by it takes a few months to actually gain understanding in the mechanics of investing in bitcoin, beyond bitinstant of course...
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SkRRJyTC
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August 03, 2012, 09:27:09 PM |
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How did you avoid the dwolla 30 day "getting to know you before you can transfer to these sites" issue, and the $500 daily limit before KYC verification comes through? I recently sent $5k to Mt.gox via bank wire. Took 3 days. Although, it only makes sense for sending those sort of amounts, as it costs something like 60$ total in fees. Yes it basically works once you've figured it out. But read that Mt. Gox wire info from the perspective of joe average who's probably done 0 bank transfers in his life but maybe 1 or two for house/car. And note that its couched in a page with about 10 other options all of which seem totally oddball. Very few people would read about bitcoin today, read that tomorrow and then sign up to do an international bank wire costing an unknown amount (what's that intermediate bank clause?) to a country they have no hope to recover funds from if it is lost... This is what I mean by it takes a few months to actually gain understanding in the mechanics of investing in bitcoin, beyond bitinstant of course... Bitfloor cash deposits are really easy for the average Joe to understand also.
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FreeMoney
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Strength in numbers
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August 04, 2012, 01:36:44 AM |
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How did you avoid the dwolla 30 day "getting to know you before you can transfer to these sites" issue, and the $500 daily limit before KYC verification comes through?
I've been around long enough I know lots of people to trade with so I haven't used the formal exchanges in over a year. We'll, one time recently I did it via proxy (human, not VPN, don't do that) just to be sure to hold a certain amount of fiat on a spur of the moment worry.
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Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
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thezerg
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August 04, 2012, 02:15:24 AM |
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How did you avoid the dwolla 30 day "getting to know you before you can transfer to these sites" issue, and the $500 daily limit before KYC verification comes through? I recently sent $5k to Mt.gox via bank wire. Took 3 days. Although, it only makes sense for sending those sort of amounts, as it costs something like 60$ total in fees. Yes it basically works once you've figured it out. But read that Mt. Gox wire info from the perspective of joe average who's probably done 0 bank transfers in his life but maybe 1 or two for house/car. And note that its couched in a page with about 10 other options all of which seem totally oddball. Very few people would read about bitcoin today, read that tomorrow and then sign up to do an international bank wire costing an unknown amount (what's that intermediate bank clause?) to a country they have no hope to recover funds from if it is lost... This is what I mean by it takes a few months to actually gain understanding in the mechanics of investing in bitcoin, beyond bitinstant of course... Bitfloor cash deposits are really easy for the average Joe to understand also. Yeah but closest branch is like 3 hrs away from me!
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SkRRJyTC
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August 04, 2012, 02:19:37 AM |
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How did you avoid the dwolla 30 day "getting to know you before you can transfer to these sites" issue, and the $500 daily limit before KYC verification comes through? I recently sent $5k to Mt.gox via bank wire. Took 3 days. Although, it only makes sense for sending those sort of amounts, as it costs something like 60$ total in fees. Yes it basically works once you've figured it out. But read that Mt. Gox wire info from the perspective of joe average who's probably done 0 bank transfers in his life but maybe 1 or two for house/car. And note that its couched in a page with about 10 other options all of which seem totally oddball. Very few people would read about bitcoin today, read that tomorrow and then sign up to do an international bank wire costing an unknown amount (what's that intermediate bank clause?) to a country they have no hope to recover funds from if it is lost... This is what I mean by it takes a few months to actually gain understanding in the mechanics of investing in bitcoin, beyond bitinstant of course... Bitfloor cash deposits are really easy for the average Joe to understand also. Yeah but closest branch is like 3 hrs away from me! chase and wells fargo?
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Frankie
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August 04, 2012, 02:30:43 AM |
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but, again, why no news ?
it is like bitcoin is put on ignore, people are certainly talking and taking notice
is mainstream media in secret agreement not to "advertize" ?
What about "it has been here before, and it ain't record breaking time yet"? this time is for real and breaking 10 usd barrier, nearing 10 mil mined coins, bl-rw halving soon, should be at least some noise... those Illuminati are really nasty bunch You are joking, right? You invoke Illuminati to explain sparse coverage of a fringe currency that has a smaller market cap than almost every indexed company in America, and appears to be going through the same thing it did last year? There's been some good coverage; it seems about proportional to me. How did you avoid the dwolla 30 day "getting to know you before you can transfer to these sites" issue, and the $500 daily limit before KYC verification comes through?
We have a thread full of people like myself happy to trade MtGoxUSD codes for Dwollars. I've got $700 Mt.GoxUSD for Dwollars right now, BTW.
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Spekulatius
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September 18, 2012, 08:56:47 PM |
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Interesting find. Unfortunately, with those search terms, you will only filter out anglophonic countries (USA, UK, CAD, AUS,..) as the search results clearly show. If you however narrow it down to only "bitcoin + bitcoins" you find a much more expressive result IMO, taking into account non-English speaking countries like Finland, Sweden, Russia, Germany, etc., many of which have a much higher search interest into those search terms then even the most keen anglophonic countries do.
TLDR: It may not be as thrilling as your last chart, but IMO the first shows a more realistic picture of slowly growing search interest in Bitcoin on a global scale.
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