Looking to buy Bitcoins

[Zewp]

Its a virtual crypto currency with absolutely no actual value or backing behind it except that which those that own them decide on.

Basically its like gold, but without the gold.

Right now it is very very volatile. Very volatile. Like down to $40 up to $140.... several times in one day. Right now I would wait for the dust to settle. Because it is a currency like the gold standard (it has no real value beyond that which is decided)... its going to boom and bust like a mother****er.... and the busts are HUGE!

But what do you do with them? Can you use them to buy anything, or are they purely there for you to buy and resell at a later date?

 

[MisterFortySomething]

But what do you do with them? Can you use them to buy anything, or are they purely there for you to buy and resell at a later date?

Sure you can buy stuff. It is a currency, after all is said and done. As a matter of fact, I don't think the creator(s) anticipated it being traded like stock. At least not this heavily. Here's a list of places to trade and buy with bitcoins (exchanges, services and goods): https://en.bitcoin.it/wiki/Trade

Here's a good read as well: ITWeb: Why Bitcoins Matter

 

[sal12344]

I had about 400 last year when I stopped mining. Sold at around $13 each for Amazon.com vouchers. Feel a bit stupid now but hey I bought a bunch of great hardware with it.

 

[w1z4rd]

T
Bitcoins are weird. .

Theyre like the gold standard, and just like the gold standard lead to the great depression, you can be sure bitcoin is going to break a lot of peoples wallets.

Its a shaky currency. It has no, and will never have stability. Its as simple as that. Its a currency built on the worst logic a currency can be built on.

Anyone who thinks these are an investment are going to lose money. Just as easily, that price can drop to less than $20 again.

 

[w1z4rd]

But what do you do with them? Can you use them to buy anything, or are they purely there for you to buy and resell at a later date?

They are used as a currency on the blackmarket and some legitimate services. For instance you can buy cocaine with them on the Silk Road or you can book a trip on a travel tour (I saw a travel booking website accepting them recently).

 

[MisterFortySomething]

They are used as a currency on the blackmarket and some legitimate services. For instance you can buy cocaine with them on the Silk Road or you can book a trip on a travel tour (I saw a travel booking website accepting them recently).

Why not both?

I'm hoping for a good sized drop in price so that I can buy. There is no way I'm buying coins at $120-$130. Too big a risk.

 

[zippy]

Short memories? Just a few years ago there where these "new age" investments

The sucker pool is never depleted.

 

[Catal]

Bitx.co.za increased my limit to R4000 so I was able to buy a couple of BTC at R1300, now its selling at R1600, too expensive.

 

[Cre8torzn]

Hey guys I have read everyone here talking about buying bitcoins but has no one tried "mining" for them?? Just heard the usual stuff about how the mining works but have not tried myself was hoping to find someone that has tried. I have only recently heard of bitcoin and have been very intrigued with the whole story.

 

[willemvdm]

But what do you do with them? Can you use them to buy anything, or are they purely there for you to buy and resell at a later date?

You can buy airtime from me.

As for mining, I tried CPU mining. Yes, I know, every where it is stated that CPU mining is useless. Wanted to try it anyway, since my PC is turned on most of the time. I joined a mining pool and after mining for 3 hours I still didn't even have a single satoshi. I suspect GPU mining will soon follow the same fate.

 

[MisterFortySomething]

You can buy airtime from me.

As for mining, I tried CPU mining. Yes, I know, every where it is stated that CPU mining is useless. Wanted to try it anyway, since my PC is turned on most of the time. I joined a mining pool and after mining for 3 hours I still didn't even have a single satoshi. I suspect GPU mining will soon follow the same fate.

For bitcoins it already has. If you want to mine bitcoins, you have to go custom rig costing lotsa $$$. You can still GPU mine some of the altcoins, but their future is even more uncertain than bitcoin.

 

[CVRChameleon]

As for mining, I tried CPU mining. Yes, I know, every where it is stated that CPU mining is useless. Wanted to try it anyway, since my PC is turned on most of the time. I joined a mining pool and after mining for 3 hours I still didn't even have a single satoshi. I suspect GPU mining will soon follow the same fate.

As already stated above, GPU mining is also utterly useless. Newer dedicated hardware mines at many many times more hashes than high end GPUs can, so they gulp up all the shares in a mining pool. I am mining newer coins with my 6870HD, could be a waste of energy because currently those newer coins do not have any value at all... but then again so did Bitcoin, and Litecoin.. now BTC = $140, LTC = $4. LTC was at $2.10 last week, and $1.65 the previous week. Litecoin is also not really worth mining, difficulty is too high as well.

For the last month I have tried to find a way of buying BTC on international exchanges, and for us in SA its near impossible. There is one service : okpay.com that can be used as a payment gateway service into some of the BTC exchanges, but after further reading alot of people say dont trust them with large amounts of money; so decided against using them

As for localbitcoins.com, it seems a bit dodgy, bitx.co.za can work, but low volumes (and high prices) does not help their cause.

Also: I wish I knew about Bitcoin last year, or earlier than current values.

 

[bigbearr]

if youre looking to buy, I have good standing on bitcointalk.org. And am willing to sell locally. Can do volumes 5-50

 

[Keeper]

if youre looking to buy, I have good standing on bitcointalk.org. And am willing to sell locally. Can do volumes 5-50

Wow, "good standing" on the bitcointalk forum heh? WOW!
too bad you are a nobody here.

I'd just like to warn everyone on here to know who you are dealing with, because if you pay via paypal and he doesn't send you coins, and you file a dispute...well, let's just say you are going to lose your paypal account and any funds in that account.

not saying you are a scammer, but 3 posts is something to think about.

 

[MisterFortySomething]

Wow, "good standing" on the bitcointalk forum heh? WOW!
too bad you are a nobody here.

I'd just like to warn everyone on here to know who you are dealing with, because if you pay via paypal and he doesn't send you coins, and you file a dispute...well, let's just say you are going to lose your paypal account and any funds in that account.

not saying you are a scammer, but 3 posts is something to think about.

+1
If you want to deal OTC (over the counter) with people you don't know, use an escrow service.

 

[firepoi]

Glad I found this thread
Go check out Bitcoinzar.co.za for bitcoin info, the facebook page (facebook.com/bitcoinzar) has lots of local bitcoiners. I also wanted to say that localbitcoins is the best site to get from, I have traded bitcoins there before, bought and sold, its very good.

 

[Zewp]

Is there any relatively easy way to prevent bitcoin miners from running on your PC? It seems recently a lot of things on torrent sites and especially news server downloads come packaged with hidden bitcoin miners.

Eset Nod32 doesn't seem to detect them, but I've just discovered the third one on my PC tonight. It always starts with a noticeable decrease in performance and when you go check task manager you've got a dodgy program running in there set to start automatically upon windows boot-up.

 

[w1z4rd]

Is there any relatively easy way to prevent bitcoin miners from running on your PC? It seems recently a lot of things on torrent sites and especially news server downloads come packaged with hidden bitcoin miners.

Eset Nod32 doesn't seem to detect them, but I've just discovered the third one on my PC tonight. It always starts with a noticeable decrease in performance and when you go check task manager you've got a dodgy program running in there set to start automatically upon windows boot-up.

Dont run cracked software, always make sure your software is up to date. Make sure you have a good up to date AV like Avast. If someones uploading miners to your computer you are already back doored. Ure someones zombie. Format, reload.