BitQuick.co - Buy Bitcoins and Sell Bitcoins Instantly for ...

With $1.5M Led By Winklevoss Capital, BitInstant Aims To Be The Go-To Site To Buy And Sell Bitcoins

With $1.5M Led By Winklevoss Capital, BitInstant Aims To Be The Go-To Site To Buy And Sell Bitcoins submitted by IWillNotBiteYourDog to Bitcoin [link] [comments]

BitInstant's new feature to sell bitcoins directly to a debit card worked flawlessly selling my coins to my, wait for it, PayPal Business Debit Card. Card is free and even has cash back!

BitInstant's new feature to sell bitcoins directly to a debit card worked flawlessly selling my coins to my, wait for it, PayPal Business Debit Card. Card is free and even has cash back! submitted by alexpeterson91 to Bitcoin [link] [comments]

BitInstant will let you Instantly Sell Bitcoins - 30 min bank credits

BitInstant will let you Instantly Sell Bitcoins - 30 min bank credits submitted by Chakra_Scientist to Bitcoin [link] [comments]

Winklevoss Twins launch BitInstant, an online marketplace to buy and sell BitCoin

Winklevoss Twins launch BitInstant, an online marketplace to buy and sell BitCoin submitted by Hetalbot to technology [link] [comments]

How exactly did Charlie help Bitcoin? He was selling on silkroad for a massive markup while destroying bitinstant and ignoring legit customers all for $$. He did nothing for Bitcoin.

I was completely ignored trying to buy $3000 because he was too busy selling to silkroad. He was after FIAT not helping Bitcoin. I think this community is confused.
There's emails that show his activity without a doubt. If he was in trouble for selling Bitcoin on bitinstant I'd be his first supporter. But he wasn't.. He was making $$ on silkroad. Why is that someone you want to support?
I don't get it. Why is silkroad and fiat now more important than Bitcoin??
You can read his emails for yourself http://www.justice.gov/usao/nys/pressreleases/January14/SchremFaiellaChargesPFaiella,%20Robert%20M.%20and%20Charlie%20Shrem%20Complaint.pdf
More complaints
http://www.reddit.com/Bitcoin/comments/1bzo49/do_not_use_bitinstant/
https://bitcointalk.org/index.php?topic=128314.8160
Read 410 pages of complaints and then tell me how reputable they seem.
submitted by kiisfm to Bitcoin [link] [comments]

Good news: VC of Bitcoin Foundation and CEO of BitInstant arrested for money laundering & selling Bitcoins to drug users

submitted by cisdealinabsolutes to SRSTechnology [link] [comments]

CampBx Bitfloor Mt Gox ( Mtgox )Aurumxchange fastcash4bitcoins libertybit bitstamp btc-e virtex bitinstant. What are your favorite methods to buy, sell or exchange your bitcoins online?

What are your favorite funding methods?
submitted by Bitcoining to BuyandSellBitcoin [link] [comments]

BitQuick.co integrates with Coinkite, Grabs More Backpage Users

BitQuick.co integrates with Coinkite, Grabs More Backpage Users submitted by dochex to Bitcoin [link] [comments]

This is what we're all freaking out about

This is what we're all freaking out about submitted by JKadsderehu to Bitcoin [link] [comments]

BREAKING: CEO of #Bitcoin exchange arrested for money laundering

BREAKING: CEO of #Bitcoin exchange arrested for money laundering submitted by CaptainDogeSparrow to dogecoin [link] [comments]

Who is the richest Bitcoin owner?

Technically, Bitcoin was worth less than 10 cents per bitcoin upon its inception in 2009. The cryptocurrency has risen steadily since then and is now worth around $6000 per Bitcoin. This is the most remarkable appreciation of the value and has created many millionaires over the last eight years.
Here are the top ten people/institutions that held a large amount of Bitcoins over time:
1. Satoshi Nakamoto
The creator of Bitcoin, who hides behind the moniker Satoshi Nakamoto, remains the major holder of bitcoins. The number of bitcoins that Nakamoto owns today is estimated at around 1.1 million, based on the early mining that he did. This is the equivalent of about $6 billion at today’s exchange rate of 1BTC to 6,098 USD. At least Nakamoto has never touched most of his bitcoins, and neither converted them into real-world currencies nor used them for any other purpose. If he were to sell his entire stash, the value of Bitcoin could plummet in an instant.
2. Bulgaria
Bulgaria is currently sitting on one of the biggest stashes of Bitcoin in the world. How did the European nation come into the possession of this enormous sum of money? A crackdown on organized crime by the Bulgarian law enforcement in May 2017 resulted in the seizure of a stash of 213,519 Bitcoins, enough to pay off a quarter of the country’s national debt.
According to Bulgarian authorities, the criminals used their technical prowess to circumvent taxes. As of June 2018, the virtual coins would be worth more than $1.2 billion. The Bulgarian government has declined to comment on the status of the coins.
3. BitFinex
BitFinex, a crypto exchange, has one of the largest bitcoin wallets with 163,133.38 BTC that are worth approximately $1 billion at the current price of $6,098.24 per bitcoin. The coins are believed to be kept in a cold wallet to protect them from cyber hacks, unauthorized access and other vulnerabilities that a system connected to the internet is prone to.
4. The FBI
The FBI is one of the largest renowned holders of Bitcoin. In September 2013, they brought down Silk Road, the infamous dark web drug bazaar, and seized 144,000 Bitcoin owned by the site’s operator Ross Ulbricht, better known as, “Dread Pirate Roberts”. Ulbricht made critical blunders that allowed investigators to locate the site and link him to it. Users of Silk Road are said to have traded around 9.5 million bitcoins since Ulbricht launched the site in 2011. Even thought the FBI sold a large amount of their Bitcoin holdings or even all, the FBI worth mentioned as they had a fortune in Bitcoin at some point. A large portion of the Bitcoins seized and sold went to Barry Silbert.
5. The Winklevoss Twins
Tyler Winklevoss and Cameron Winklevoss were among the first Bitcoin billionaires. The duo had first gained popularity when they sued the Facebook C.E.O. Mark Zuckerberg for allegedly stealing the idea of creating Facebook from them. They were contacted by Zuckerberg to develop the ConnectU site, which was to become Facebook later on.
They used $11 million of the $65 million cash compensation they received from the legal dispute with Zuckerberg to purchase 1.5 million Bitcoins in 2013. Back then, one Bitcoin traded at $120. That investment has increased more than 20000% since then.
The twins allegedly own around 1 percent of all Bitcoin in circulation. Their combined net worth is approximately 400 million. They created the Windex, funded several bitcoin-related ventures and invested $1.5 million in BitInstant.
6. Garvin Andresen
Although bitcoin is the brainchild of Satoshi Nakamoto, Garvin Andresen is credited as the person who made it what it is today. Garvin is one of the people who has been suspected to be Satoshi, a claim he denies. Rather, he says that he had a close relationship with the anonymous cryptographer for many years. The real Satoshi Nakamoto picked him as his successor in late 2010. Garvin became the chief developer of the open source code that determines how Bitcoin operates – and whether it can survive. He was once paid over $200,000 in Bitcoin by the Bitcoin Foundation for his contributions. He had already cashed out multiple times.
7. Roger Ver
Roger Ver, otherwise known as Bitcoin Jesus, is one of the first Bitcoin billionaires and believed to hold or held at least 100,000 bitcoins. The renowned libertarian allegedly dropped out of college to focus on his bitcoin-related projects. Unlike other crypto billionaires out there who are throwing their cash in the typical private Islands or luxury jets, Ver’s dream is to establish his own libertarian nation where every individual is the absolute owner of their own life and are free to do whatever they wish with their person or property. The controversial bitcoin evangelist renounced his U.S. citizenship in 2014 and relocated permanently to a small Caribbean Island.
8. Barry Silbert
Silbert is a venture capitalist and founder of Digital Currency Group. He was an early adopter of Bitcoin. He purportedly walked away with an eye-watering 48,000 Bitcoins in an auction held by the U.S. Marshals Service in 2014. The US government had confiscated much of the crypto coins from Ross Ulbricht, the alleged operator of the dark web marketplace for drugs and other illegal products. Bitcoin was then worth $350, which means Silbert’s coins have skyrocketed in value from $16.8 million to $288 million.
9. Charlie Shrem
Charlie Shrem is no doubt one of the most controversial Bitcoin millionaires. He invested in a large quantity of Bitcoin in the early days of the cryptocurrency. Shrem was also an active member of the Bitcoin Foundation and founded BitInstant when he was just 22 years old. By the end of December 2014, Shrem had been found guilty of money laundering and received a two-year prison sentence. After his release from federal custody, he unveiled a startup called Intellisys Capital, a company that sells investment portfolios in blockchain companies.
10. Tony Gallippi
A famous business magnate Tony Gallippi is also believed to be one of the big holders of bitcoins. He is the brain behind BitPay, one of the most popular Bitcoin payment service providers in the world. The company was launched in May 2011 and processes over one million dollars per day. Bitpay is also one of the companies to sign contracts with major companies including Microsoft, Dell, TigerDirect, and Newegg. By 2014, the company had employed approximately 100 people.
Conclusion
It is estimated that the top 1000 bitcoin addresses own approximately 35% of the total bitcoin in circulation. There are also thousands of individuals who hold large stashes of bitcoin but have chosen to remain anonymous.
submitted by alifkhalil469 to BtcNewz [link] [comments]

4 Years in Prison for BitInstant Exchanger Who Helped Silk Road

4 Years in Prison for BitInstant Exchanger Who Helped Silk Road submitted by SpiryGolden to Bitcoin [link] [comments]

Why is it so difficult to buy BTC?

I really love the concept of bitcoin and I want to invest in it. I have thousands of dollars that I want to convert to BTC, but I'm finding it nearly impossible and extremely frustrating to get my hands on any. It is almost to point of giving up entirely.
My options: Coinbase.com. I've purchased 15, yes, FIFTEEN, whole bitcoins in the course of 2 weeks, because it takes a whole freaking week for them to transfer them, they cap it at 10 per day, and 99% of the time their capacity has been reached.
MtGox: I cannot believe that this is the #1 bitcoin exchange -- a year ago it looked and acted like it was implemented by cavemen. It was an abomination. It was hacked. And, even the name is stupid. They do not tell you what types of payments they accept unitl you sign up. The charts are offline half of the time I check.
Second of all, you have to provide them with all of your details, and a scanned government issued ID. Seriously? They had their accounts hacked a year ago and now they ask for my passport? My own investment banks do not ask for scanned ids. It is ABSURD.
Dwolla: Before I can even use MtGox, I need to set up another account that requires my entire life story.
So, let's recap what it takes to own this magical "anonymous" currency:
That's it! You're ready to buy bitcoin! Now you can order pizza!
Really, bitcoin, what the fuck? How is this ever going to take off if I, a savvy lifelong user of the internet, with ~$5k that I'm willing to invest in BTC, who already knows about it and wants it quite badly, cannot even get any? This is pathetic.
submitted by a-typical-redditor to Bitcoin [link] [comments]

Everyone is waiting for BitInstant's debit card, while good guys at Bitcurex have been offering their debit cards for awhile now...

Everyone is waiting for BitInstant's debit card, while good guys at Bitcurex have been offering their debit cards for awhile now... submitted by ThePiachu to Bitcoin [link] [comments]

BitInstant Service Sucks Enough for ME to make it MY 1st Post!

I get it. They got hacked cause the owner of the site didn't expect that BitCoins would get hit like it did with the sudden influx of publicity and couldn't keep up with demand. The guy/gal even didn't do a 2 part verification process and became the victim of a simple social engineering hack that strolled away with about $12,000(?) of the companies bankroll before they noticed and pulled the servers. I sympathize with them and hope everyone in the BitCoin community learned a valuable lesson in password safety.
I read on the BitInstant blog that they got the servers up and running and was even paying the value of BitCoins at the time of purchase. Gotta be honest and say I was relieved to hear the news. That was a move that I wasn't expecting, but was a true sign that they wanted to show respect and trust by taking an even larger amount out of there bankroll.
But why am I so pissed that I have to make my 1st Reddit post one trashing BitInstant right in the headline?
Customer service is not what they are good at. Nor are they good at following thru with what they say. I'm laid back and a go with the flow kinda guy. During week 2 I even asked if they still were hiring. I want them to be the good guys. I root for the underdogs and never want to kick a guy when he's down. However, my transaction was done right about the time that I deposited my $150 at my local ZipZap location after 3 weeks of watching and learning the good and the bad from people about ways to get coins. This was my 1st transaction into the BitCoin world. I've been told to rest assured toward the end of week one. Week two I sent 3 emails and made 1 phone call. Read the blog about how they were taking care of damage control with what I considered respectful and sympathetic to us BitInstant victims.
Yet, now it's week three. My emails have become more frequent, 3 this past weekend and all of them posted where I noticed they aimed there damage control mods. I'm not sure what to do now. I want to post nasty things, call them names and be all psychoticly emotional and yet, I'm also understanding of the mess they are in. I'm however NOT ok with ZERO response. I'm NOT ok with wasting MY time writing emails and watching my inbox for 3 weeks or hoping that that noise I just heard is going to really be them saying "hey, you got your funds. Told you not to worry! We're deeply sorry!!!".
I don't ever see that email obviously. I don't even get a reason why or letting me know they're still working on it and that they still haven't forgotten about me. I feel like i'm just an unnoticed blip they see scrolling thru the other countless emails that the others keep posting with the same issues.
Hi, Reddit :-) I just pop my posting cherry. I was hoping it would've been about something original and cheery :-(
submitted by 1strangelove to Bitcoin [link] [comments]

Now that bitfloor is shut down what are you guys using to buy bitcoins?

Haven't bought bitcoins since the site went down, and I havent really found any good alternatives.
Does anyone here use bitinstant? Is it running smoothly again? Any other websites?
Thank you!
submitted by Lozo75 to SilkRoad [link] [comments]

[PSA] BitInstant hasn't paid out in over 24 hours. Use a different service.

Their lack of non-copy-pasted response is very unnerving, and (to me) signals that they are going to take the money and run. Please upvote for exposure so that other people don't waste their time and money with this "service"
submitted by Ninsha to Bitcoin [link] [comments]

Bitcoin Exchange CEO Pleads Guilty to Enabling Silk Road Drug Deals

Bitcoin Exchange CEO Pleads Guilty to Enabling Silk Road Drug Deals submitted by electronics-engineer to Bitcoin [link] [comments]

Is there money to be made being a local bitcoin broker? It seems like a lot of work for 1%, especially when coins are increasing versus the $ so quickly lately.

submitted by ToddAC to Bitcoin [link] [comments]

BTC-e is now the BIGGEST systemic risk to Bitcoin!!

BTC-e.com is now a close second on Bitcoincharts after Bitstamp in trade volume. They are now BY FAR the biggest systemic risk to Bitcoin.
From day one they have been the exchange of choice for the sellers of Silk Road and every other black market site. This is because they offer(ed) every withdrawal option possible up to any amount with ZERO identification needed. They had Liberty Reserve, PerfectMoney, Ucash and many other ID-free options.
BitInstant may have been used by buyers indirectly through BTCKing on SR, but BTC-e has been there for the sellers. So if Charlie Schrem was worth picking up at the airport by the US, you can imagine that the owners of BTC-e are MUCH higher on the wanted list.
THAT IS WHY THE OWNERS ARE (TRYING TO BE) ANONYMOUS.
They can be arrested anytime and face decades in prison for laundering many millions in drug money. Guess what happens to the hundreds of thousands of coins under their control?
THEIR LEGAL RISK IS YOUR FINANCIAL RISK.
For Bitcoin's sake, people need to be turned away from them. Another top exchange going down would be a disaster and a huge set-back for Bitcoin.
Those wanting to buy or sell should use a 2nd generation exchange that doesn't have dirty hands. Those wanting to take a bet on the rate should use derivatives anyway, same exposure with a smaller deposit.
ps. This is not about creating FUD or hurting their business. This is about getting the facts more into the open. BTC-e is a well run site compared to Mt.Gox, but the inherent risk is JUST AS BIG AND GROWING!
EDIT ;I meant BitInstant, not BitStamp.
It doesn't matter how well run the site is, or how much you trust them. They clearly have been breaking all laws on AML and KYC for ages, and they have done MASSIVE drug related trade. No future audit can wipe out their past. As far as I see it they could go the way of Liberty Reserve any moment. LR's Costa Rican owner was arrested in Spain and pleaded guilty to laundering $6 billion All funds on LR were lost. http://www.libertyreserve.com/index.html
submitted by furchtbares to Bitcoin [link] [comments]

[Careful] A few thoughts to Silverbugs I see new to cryptocurrencies or thinking of making the plunge

I really like this community and have enjoyed conversations and trading with many of you. Because I like you, I will give you the TLDR first so you do not have to scroll to the bottom of this wall of text.
TLDR - If you are new to crypto or thinking of investing, be prepared for the possiblity of losing (or loosing to those of you who have been around the bitcoin forums a while) 50% of the USD value tomorrow. If you think bitcoin dropping 50% in a few days is crazy talk you need to read the wall of text
Some of you may know from my pmsforsale posts that my preffered form of payment for peer to peer trades is bitcoin - i believe btc/crypto currencies have some great use cases now and there is a chance they may be a revolutionary new technology/change the way we do business and trade, and/or replace or augment gold as a store of value you can hold yourself without the need to trust a 3rd party. Another big draw for me is that each btc will always remain fungible (no btc can be declared invalid or claimed by a government or financial institution) - none can be created arbitrarily by any group devaluing what you hold. 1 btc will always be worth 1/21,000,000 of all the bitcoins ever to be created just as 1 ounce of gold will always be worth 1 oz gold/all the ozs of gold.
The above things aside, as an investment I always try to caution friends/family that it is a high risk investment and should only be made with an amount of money that would not affect your life or cause you anguish mentally if what you invest today is worth 1/2 as much in USD tomorrow and completely valueless in 1 month.
Some of you who are newer to following btc price - say the last 6 months - maybe don't believe it can really be cut in 1/2 in USD terms in one or two days but it most definitely can. I have been following bitcoin for 3 bitcoin bubbles and blow offs (we are currently in my third and by my definition the 4th major bubble since bitcoin began trading on exchanges.)
Here are how the bubbles I followed have gone down in my memory and a brief glance back at charts (dates and prices are approximate and the start and end of the bubbles, or even if they were bubbles are by my definition).
  1. Late January 2013 - Mid March 2013 (prices are mt gox for this bubble)- I was a spectator for this one as I had just discovered btc in late 2012 and was learning more about how it worked/what its purpose or uses could be. Buying btc at that time was a good deal dodgier than an ACH transfer to a federally regulated company such as Coinbase or Gemini and, although I could see the potential future of bitcoin, I also was not ready to mail someone cash or go to walmart and send money to Charlie at Bitinstant. Bubble began at approximately $20, topped out just 2-3 months later over $250. Volume increased heavily towards the top as you would expect as the hype grows and new money comes in to the bubbling market chasing the dream of big returns. This bubble crash was very violent and if I remember correctly the high and low occurred on the same day as the high of 250 with a low for the day in the 50's (I can only view weekly charts so it may not have been the same day but I am pretty sure it was). If you were the person who put your x dollars in at 250+ to see it drop 70% in a day/week would it affect your life. If you answer yes, you are investing more than you can afford. This should take in mental state as well as financial.
  2. November 2013 - I finally took the plunge into bitcoin at around 120 usd in late August 2013. The bubble began to me on the day of the silk road closing. For a long time many people in btc believed that the bulk of btc value was due to its use on the darknet market silk road, my self included. When the seizure of the website and the arrest of it's founder btc quickly dropped to around 80 but recovered most of its losses that day and was breaking out of a long consolidation period around 140 within a week or two. This breakout was the beginning of the November bubble. We topped out around 1100 on bitsamp and saw a low in the 500's within a day or two. This bear market lasted over 18 months with a final low in the 200 area. Again, if you bought at 1100 within a week or two your usd value was cut in half.
  3. The bubble I didn't witness - 2012 breakout around $6, high several weeks later at $32 with a low of $2 the same day.
The bubbles and crashes seem to be getting less volatile, which makes sense as the market becomes more liquid. That said, I fully expect the current bubble to crash 40-60% in a period of 2 weeks or less when it blows off. What I have no idea of is if it will be from 3,000 to 1,600 or 6,000 to 2,800 or any possibility.
To be clear, I am not saying don't invest in crypto. I believe if you do the research you may find it worth a portion of your higher risk investment portfolio. I am saying don't invest any funds you need in the near term (from an investment standpoint I consider near term to be 2 years or less). Also, if you plan to invest X maybe put in 1/y of X at time interval z so you don't go all in at a local top. The benefits of dollar cost averaging have been debated for eons in investing circles but I will add my 2 satoshi's - I personally do enough research to be confident enough in my decision prior to investing in an asset for the medium to long term so that a short term drop in the asset's value will not cause me to panic sell a local bottom, so once I decide to invest an amount I go all in with that amount. Do not underestimate the power of panic - it is a far stronger driver than greed which is why I believe the moves up in bitcoin bubbles can take 10 weeks or more but the bulk of move down happens in days.
Cheers everyone, and if you have any questions on btc I am happy to provide direction.
submitted by LesbianCow to Silverbugs [link] [comments]

My biggest regret, a saved email from 2013.

12/20/13 K: Hey man, it's K. Is your name D? Anyway...getting money onto BTC-e can be tricky if you are trying to deposit USD. I kind of just had to learn by trial an error because I didn't know anyone that could teach me, because i am the only one that invests in crypto currency that I know.
Anyway, coinbase is probably the best bitcoin wallet service in the United States. It is definitely the largest and most reputable. Use this referral link: Once you sign up using this link, it will give us both some free money after you have purchased some bitcoins. The process takes a little while to get all started up, but it is worth it because it is so easy to use after. You can instantly buy bitcoins, and then use those bitcoins to send to BTC-E to purchase whatever other coins you want. I invest pretty heavily in LTC. The only way I have been able to do that is by buying bitcoins on coinbase, and then sending them to btc-e. Let me know if this works for you..
K: Let me know if the email reached you
D: Yep. I got it. Two to three days for the deposit verification into my bank account. Thanks for the advice. I take it you work in finance?
K: Yeah I do :). Coinbase takes a bit for the verification process but it is super easy to use after that. When you sell bitcoins, they just deposit the money right back into your bank account. It's the easiest service that I have found that is reputable.
D: Have you ever tried trading for small margins? I made about 0.60 USD since I started last night. I got my initial funding by mining FTC. I'm trading BTC.
D: Actually up to 10.81 after my last trade. Got in at 625 and sold at 639.
K: I mainly buy and hold for long term. I bought some NMC to flip, but it dropped in value steeply so im still holding it. I buy more every time it dips. Sent via wireless, please excuse any typos...
D: Cool. No worry about typos. I type all day at work so don't mind as well. I give up on accuracy at 5. My friends also aren't very much into crytpo currencies. I like the technical aspect but I'm more interested in trading on BTC-E. I must have watched about 12 hours of bitcoinwisdom since yesterday. It was my first time analyzing real time data. I can't believe how much info you can obtain just from identifying patterns. I have a quick question about a 401k if you don't mind. So far my year to date is 26%, is that good?
K: Yes, very good. You must have had it set up aggressively with the investing choices (which is better to do when you are young). Good stock market returns are around 12% so you are more than double, but don't be surprised if there is a correction to lower on the returns there too.
D: Yes. I'm over 50% in small cap and am young. Is there anyway to avoid that correction by reallocating?
K: Nah, just leave it. At least you have a 401k, most people are paycheck to paycheck
D: Defiantly. I can't imagine how some of my co-workers get by paying overdraft fees each month. Have a good night. I'll let you know when I buy some coins on that site.
K: Cool, let me know. Let's make some money! :)
12/22/13 D: Howdy K, I'm still waiting on the deposits in my bank account by Coinbase. Thanks for the referral link, I'm looking forward to that free $5 of BTC. Up to $12.30 USD on BTCE, looking to break $13 tonight. Can't wait to get some more trading funds.
K: It takes a bit for the initial deposit. I think it took my bank almost a week :(. Once you are done though everything is quick. If you add a credit card too, you can buy up to 10 btc instantly per week
D: Awesome. Have any suggestions? (pic) attaches picture of small gains trade history
K: What do you mean by sugggestions? Like on your trading?
K: Can you deposit more money? It looks like you aren't fully able to enjoy the full gains of your trades because the amounts that you are trading are a little small. If possible I would suggest buying 1 btc when the price is the lowest of the day, and then trade from there..
K: Also i would stay away from ftc for time being
12/24/13 K: Hey bud, i just got some free money from coinbase :) did you get it too? Pretty cool huh?
D: Yes sir. 4 days for my order to fill, can't wait.
12/25/13 D: Merry Christmas!
K: Merry xmas! If you add a credit card you can instant buy up to 10btc. What other coins are you buying right now? I mainly just have BTC and LTC
D: Does the credit card have to be a Visa? I'm mining about 8 FTC per day and trading for BTC at market. Then I trade BTC/USD for 0.10 - 0.40 profits. Working on a spreadsheet right now which you can see if you are interested.
D: spreadsheet sends corny orange and grey spreadsheet
K: Think it can be mastercard or amex too...
K: Nice LTC rally today :). I just picked up more LTC yesterday too
D: I tried adding a mastercard and discover but it wouldn't work. I've been watching the rally. Waiting to buy in to BTC at $656.
K: Shit that sucks, email support and ask if they accept mastercard? I find that odd that they would only accept visa
D: No worries. Deposit should clear 12/31
12/29/2013 K: Hows it going? Did you get your btc?
D: Hey K. Not yet, they will be deposited 12/31. Bought at $651
K: Nice so you are already up :)
K: How much did you buy? You should buy some and hold long term if possible too
1/2/2014 D: Happy New Year, K. I only bought 0.2 BTC for about $131. I'm at a total balance of $179.07. Started mining FTC again for the few extra dollars per day.
I think I read somewhere that there is a cap of 21 million BTC that will ever be in existence. 21 million on the internet is subtle considering how many views cat videos get on youtube. 21 million out 7 billion people is even smaller. Sometimes I find it hard to imagine millions and billions but I always think about this one thing: 1 million seconds is about 11 days, 1 billion seconds around 31 years. I'm very optimistic about the long term. Probably going to set aside at least 1 BTC in the near future.
Have you ever seen BTC listed on ebay? I created an auction yesterday for 0.1 BTC, $120.00. It sold within 3 hours but the buyer flaked out after I told them they would be receiving the BTC-E redeemable code in the mail. They created a dispute stating that the ebay/pal accounts were accessed by an unauthorized third party which is currently in process. I didn't lose anything and actually sold back the 0.1 at $775 after buying at $740 last night. I'm considering re-listing some BTC on Ebay but don't want to deal with reversed payments. Have any insight?
K: I heard ebay can be a nightmare with sellers getting scammed by buyers with chargebacks. If you are going to do it, I would recommend selling maybe paper wallets only, that you actually have to mail to them. That way you can have a tracking number for your shipping. If you want to sell through paypal, be careful, I think any mention of crypto currency can get your account frozen. Not positive about that though. Try selling to people on the forums, I think that would be easy. Honestly, I think just buying what you can and holding long is the best option to make the best returns. Look how the market has gone today D
K: 21 million BTC is not even enough btc for each person in my state to have 1, let alone the United States, or the entire world. As long as the demand stays high, the price could become astronomical if some major players like wall street enter the game. Just think, if Wall Street threw like 100 mill at Bitcoins (which is not that far-fetched), the price would probably jump to like 3-4k per BTC after that 1 day alone…
D: I don't think I'm going to sell anything else on Ebay until I come up with a better way of protecting against charge backs. The market has been awesome today.
D: That's very true. I think my next purchase will be 0.5 BTC to keep in my wallet.
K: Have you seen the stuff on zerocoin? Looks interesting, should be out this year...there has been a lotta hype around it..
D: Haven't heard anything about it until just reading an article now. Looks interesting and they make a good argument about anonymity. I only read over it briefly, but it appears what they're proposing would add an additional transaction fee the the process. Cool concept. Are you good with candlestick charts and patterns?
K: Somewhat. I learned them in college but stopped using them until now, so I am pretty rusty…I get the concepts and all, but I am not a professional at them by any means. I saw my buddies wallet the other day…he is pretty stacked. Over 250btc and over 1000 LTC!
D: That is pretty stacked. About 500k stacked, right? Are you familiar with the creator(s) of bitcoin "Satoshi Nakamoto"? Is it actually one person? There are quite a few claims as to who or whom Satoshi may be.
K: Im not familiar, i heard it was a team of people under that one name
D: I wonder if it was created by a goverment. Like some NSA type agency. Kinda like how the darknet started off as a Navy project.
K: Nah I doubt it. Government wouldn't create something that could possibly pose a threat to its own currency.
D: That's a good point. The future of BTC is exciting.
1/6/2014 D: Started trading NMC recently. Check ou the spreadsheet attaches another shitsheet Still just testing the water before I start making bigger trades. Buy any more BTC/LTC lately?
K: Cool man.. Year i got some LTC at $16 right before it went back up :)
1/7/2014 D: Nice buy. Catch the market today? China's equivalent of Ebay banned the sell of btc, ltc, mining gear, etc.
My understanding on of China: China’s central bank regulated the virtual currency for the first time on Dec. 5 by banning financial institutions and payment providers from conducting transactions in the virtual currency
Chinese central bank officials told third-party payment service providers to stop offering clearing services to online Bitcoin exchanges
China's Ebay bans sell of BTC in accordance to the central bank's ban effective Jan. 31. Acting as a clearing house of BTC.
I'm now $180 long NMC. I might invest 1k soon on BTC, any thoughts on an upcoming entry point?
K: Hmmm not quite sure on entry point. I am in the red as of today on NMC. Im trying to get it back to 0.01 btc to convert my nmc back to btc, i missed it on the last push. If you are investing 1k and holding long, then any of the daily ups and downs dont matter because in the long run we hope it will be way up. If i were you, i would just wait for a big red candle and then try to by at the bottom. Maybe $800/btc is good?
K: The part that sucks is that it seems like BTC value works so hard to creep up and up slowly, and right when it seems like it is going to pick up some momentum, BAM! More bad news comes out and slams the market. This cycle seems to keep repeating over and over right now…
1/9/14 K: I got 2 more btc :)
1/27/14 D: Sorry, haven't check this email account for a few weeks. Been working a lot of OT. What price did you buy in at on 1/9? I just sold a majority of my coins for cash. I picked up 3 LTC at 19.50 though. What's gonna happen 2/1/14?
Also, do you know how long it would take for a tax return check if you have your taxes in prior to the 31st? I finished those 2 weeks ago if it matters.
The other day the dow finished pretty low. Do you have any thoughts about the US economy over the next 6-12 months?
K: What’s up man…huge dump off of BTC right now on almost all exchanges (except gox which is bs anyway). I bought some more LTC at around $19 too.
I am holding all for long haul, although it would have been profitable to sell this morning, and re-buy after this dump off. I have no idea what is going to happen on 2/1. Last time when senate met, everyone thought the party was over, and then there was a huge rally in prices instead.
I am trying to figure out the right price to buy more btc right now… what do you think?
D: Sorry. Copied and pasted instead of attaching the pic. I think we'll have to see if it breaks that support. What about the arrest of that guy at bitinstant? *attaches picture of BTC 4h chart with a random line pointing downward
K: I don’t think that one arrest will tank the market like that. I am wondering if the confiscated silk road funds are being trickled through the exchanges by the feds. It seems weird the sell off right now. It almost seems systematic. Like there is a huge sell off that clears all the buy orders. Then it is calm for a few minutes, then repeat. Really strange…
D: But I wonder how they brought charges on him? Could they hold anyone accountable who sold BTC to a person using it to buy drugs on silk road? If the Feds are selling that would explain it. They seized 144,000 and they're saying the owner of silkroad may have 600,000 stashed in a wallet.
K: I think the number is more like 30,000 btc
D: The spokesperson says the approximately 26,000 Bitcoins seized are just the ones that were held in Silk Road accounts. In other words, it’s Silk Road users’ Bitcoin. The FBI has not been able to get to Ulbricht’s personal Bitcoin yet. “That’s like another $80 million worth,” she said, explaining that it was held separately and is encrypted. If that is indeed what he’s holding, that’s close to 600,000 Bitcoin all together or about 5% of all Bitcoin currently in existence. (Update 10-25: The FBI says it’s seized 144,000 Bitcoins, or about $28 million, that it believes belong to Ross Ulbricht.)
K: I don’t understand how they were able to confiscate them, when bitcoins are not yet considered money, so they shouldn’t fall under forfeiture rules…
1/17/18 - D: Wish you the best K and hope you held those coins longer than I did.
TLDR: Meet a friend in December 2013 that gave me advice to buy and hold BTC long term. This is one of our email threads from around that time, edited to remove personally identifying information. I used all my bitcoin for pizza following the fall of Mt. Gox and the subsequent bubble burst.
submitted by hampering to CryptoCurrency [link] [comments]

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