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Benson_JV
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PostPosted: 19:19 - 21 Nov 2012    Post subject: Bitcoins Reply with quote

Salutations

If one were to buy some bitcoins, where would one buy them from?
I've had a look at intersango but if anybody has any better idea's I'm all ears.

Thanks Smile
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Rogerborg
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PostPosted: 20:14 - 21 Nov 2012    Post subject: Reply with quote

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The Artist
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PostPosted: 20:40 - 21 Nov 2012    Post subject: Reply with quote

ATTENTION

BENSON IV WANTS TO BUY DRUGS Laughing


If it didn't even require a little bit of googling then every idiot would be using coins and attracting more attention.
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Benson_JV
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PostPosted: 14:59 - 22 Nov 2012    Post subject: Reply with quote

Just after a bit of advice is all, read some rather dodgy things with some of the exchanges, just trying to get an idea of whats a good bet and what isn't. Much like everyone on this forum does with any available product.
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oldpink
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PostPosted: 16:23 - 22 Nov 2012    Post subject: Reply with quote

when I was looking into it this site was helpful
https://bitcointalk.org/index.php
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Benson_JV
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PostPosted: 22:05 - 22 Nov 2012    Post subject: Reply with quote

Ta chap.
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oldpink
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PostPosted: 22:11 - 22 Nov 2012    Post subject: Reply with quote

BTW in the end I didn't use them too many security issues and finding a suitable exchange that we could do business with made it a non starter
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The Artist
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PostPosted: 18:09 - 23 Nov 2012    Post subject: Reply with quote

fuck it, since I am doing this for other people, may as well ask if anyone here wants any bitcoins? I am buying some late next week and as it costs a bit for each transaction, splitting it up works out a lot cheaper.

PM me if you want any.
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james1988
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PostPosted: 19:13 - 23 Nov 2012    Post subject: Reply with quote

Sorry to steal your thread...
I've just been reading around about Bitcoins and it seems the consensus is; mining by yourself is slow, painful and could take an age to come up with anything.

Is it actually 'worth' it? It's something I'm rather interested in but my main computer is rather outdated (8800GT outdated!)...

James
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The Artist
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PostPosted: 21:04 - 23 Nov 2012    Post subject: Reply with quote

james1988 wrote:
Sorry to steal your thread...
I've just been reading around about Bitcoins and it seems the consensus is; mining by yourself is slow, painful and could take an age to come up with anything.

Is it actually 'worth' it? It's something I'm rather interested in but my main computer is rather outdated (8800GT outdated!)...

James


No
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GhostRider
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PostPosted: 00:10 - 24 Nov 2012    Post subject: Reply with quote

I read a bit into bitcoin mining purely out of interest, the general consensus being if you aren't prepared to build a mining factory (I've seen pictures of rows of 7-8 shelves connected in series), and steal the electric, then it doesn't even approach being profitable. Given that its not really a currency either, and price fluctuates a lot..... even with a artificial currency, it seems you can;t print your own money easily Laughing Laughing

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smegballs
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PostPosted: 00:22 - 24 Nov 2012    Post subject: Reply with quote

GhostRider wrote:
I read a bit into bitcoin mining purely out of interest, the general consensus being if you aren't prepared to build a mining factory (I've seen pictures of rows of 7-8 shelves connected in series), and steal the electric, then it doesn't even approach being profitable. Given that its not really a currency either, and price fluctuates a lot..... even with a artificial currency, it seems you can;t print your own money easily Laughing Laughing

GhostRider


Like most bubbles, the guys who got on early when the difficulty was low, probably did pretty well. I gather now, you'll easily spend more in electric that what the coins you mine are worth.
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Alpha-9
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PostPosted: 11:49 - 07 Dec 2012    Post subject: Reply with quote

There was entire bitcoin companies who shut themsevles down and vanished ith huge values of it, which in turn fluctuates the market

The problem is it's a currency based on no real value, real money was all based on silver and gold, but bitcoins are controlled by well, the companies that sell them and hackers that exploit them

Quote:
Theft and fraud
On 19 June 2011, a security breach of the Mt.Gox (an acronym for Magic: The Gathering Online Exchange, its original purpose) Bitcoin Exchange caused the price of a Bitcoin to briefly drop to US$0.01 on the Mt.Gox exchange (though it remained unaffected on other exchanges) after a hacker allegedly used credentials from a Mt.Gox auditor's compromised computer to illegally transfer a large number of Bitcoins to him- or herself and sell them all, creating a massive "ask" order at any price. Within minutes the price rebounded to over $15 before Mt.Gox shut down their exchange and canceled all trades that happened during the hacking period.[63][64] The exchange rate of Bitcoins quickly returned to near pre-crash values.[65][66][67][68] Accounts with the equivalent of more than USD 8,750,000 were affected.[65]

In July 2011, The operator of Bitomat, the third largest Bitcoin exchange, announced that he lost access to his wallet.dat file with about 17,000 BitCoins (roughly equivalent to 220,000 USD at that time). He announced that he would sell the service for the missing amount, aiming to use funds from the sale to refund his customers.[69]

In August 2011, MyBitcoin, one of popular Bitcoin transaction processors, declared that it was hacked, which resulted in it being shut down, with paying 49% on customer deposits, leaving more than 78,000 BitCoins (roughly equivalent to 800,000 USD at that time) unaccounted for.[70][71]
In early August 2012, a lawsuit was filed in San Francisco court against Bitcoinica, claiming about 460,000 USD from the company. Bitcoinica was hacked twice in 2012, which led to allegations of neglecting the safety of customers' money and cheating them out of withdrawal requests.[72][73]

In late August 2012, Bitcoin Savings and Trust was shut down by the owner, allegedly leaving around $5.6 million in debts; this led to allegations of the operation being a Ponzi scheme.[74][75][76][77] In September 2012, it was reported that U.S. Securities and Exchange Commission has started an investigation on the case.[78]

In September 2012, Bitfloor Bitcoin exchange also reported being hacked, with 24,000 BitCoins (roughly equivalent to 250,000 USD) stolen. As a result, Bitfloor suspended operations.[79][80] The same month, Bitfloor resumed operations, with its founder saying that he reported the theft to FBI, and that he is planning to repay the victims, though the time frame for such repayment is unclear


Good luck anyway, let me know if you get anywhere with it
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Jamie.
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PostPosted: 12:22 - 07 Dec 2012    Post subject: Reply with quote

Someone please explain what bitcoin is.. I've googled it and still don't have a clue.
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chris-red
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PostPosted: 12:46 - 07 Dec 2012    Post subject: Reply with quote

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Alpha-9
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PostPosted: 12:47 - 07 Dec 2012    Post subject: Reply with quote

Jamie. wrote:
Someone please explain what bitcoin is.. I've googled it and still don't have a clue.


Anonymous currency for buying dodgy things online. You buy the coins from a site/company, it goes into your 'anonymous' e-wallet, you buy goods with the 'bitcoins'

It's a bit like buying facebook coins to buy games with, but with drugs and guns instead

It's a bit like Bison dollars
https://www.youtube.com/watch?v=ZblbYcbWDo0
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The Artist
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PostPosted: 12:53 - 07 Dec 2012    Post subject: Reply with quote

Bitcoins are a virtual currency, anonymous, no central bank location, works off a p2p system.

Fairly easy to make untraceable.

Originally had no value but the fact that you can make almost instant payments to anyone in the world securely and anonymously means people want to use them. Supply and demand comes into play, there is a limited number of bitcoins in circulation and the number is rising exponentially slower. Controlled inflation basically.

The value fluctuates so much because there are so few bitcoins and the market is small compared to Govt. regulated currencies.

Current value 1BTC = £8
3 months ago it was £4.50
Not long before that it was £20 before it crashed.

Although the fluctuations don't make a difference to most people. Only way it makes a difference is if you hold onto the coins for long enough.
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Rogerborg
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PostPosted: 12:59 - 07 Dec 2012    Post subject: Reply with quote

Jamie. wrote:
Someone please explain what bitcoin is.. I've googled it and still don't have a clue.

It's a virtual currency that's traded for drugs and sex, because befuddled users have been told that it's anonymous.

That's only true in the sense that The Man has got better things to do than perform a couple more steps than are required to investigate a credit card transaction. If bitcoins ever do become a significant currency (and they won't) then that fantasy will be dispelled sharpish.

You can 'mine' a bitcoin by running a program that is (bad analogy ahoy) a fruit machine that parcels out a strictly limited supply of bitcoins. The faster your computer (or these days the graphics card) can pull the handle, the more likely you are to win one. As bitcoins are won, it becomes harder and harder to win more. It's already a literal waste of electricity to bother trying it at home, and sooner or later it'll be folly for even the professional 'miners'

This is because the value of bitcoins is entirely dependent on the collective belief of those who use them. When people stop believing in them, they'll be worthless, and consigned to a curious footnote in history.

You'd be better off trading in World of Warcraft gold.
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UrbanRacer
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PostPosted: 13:12 - 07 Dec 2012    Post subject: Reply with quote

The difficulty of mining bitcoins is also going to get much MUCH harder when the new ASICS harware is released, this is hardware that is dedicated to bitcoin mining.
Whoever get the ASICS machines first is going gain massively from it as the first 2000 bitcoins or so will be very easy to mine, the bitcoin system will adjust the difficulty rating and it will go up substantially
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The Artist
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PostPosted: 13:24 - 07 Dec 2012    Post subject: Reply with quote

Rogerborg wrote:


That's only true in the sense that The Man has got better things to do than perform a couple more steps than are required to investigate a credit card transaction. If bitcoins ever do become a significant currency (and they won't) then that fantasy will be dispelled sharpish.


Please explain how bitcoins can be traced.

Let's say I purchased an 8 year old vietnamise girl in the mail and paid through bitcoins. How can the payment be traced exactly?
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Alpha-9
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PostPosted: 13:53 - 07 Dec 2012    Post subject: Reply with quote

The Artist wrote:
Rogerborg wrote:


That's only true in the sense that The Man has got better things to do than perform a couple more steps than are required to investigate a credit card transaction. If bitcoins ever do become a significant currency (and they won't) then that fantasy will be dispelled sharpish.


Please explain how bitcoins can be traced.

Let's say I purchased an 8 year old vietnamise girl in the mail and paid through bitcoins. How can the payment be traced exactly?


If you honestly believe bitcoins are full proof you are a fool I am afraid.
I think borgy was spot on with his post, as always Rolling Eyes

Quote:
While it may be easy to transfer bitcoins anonymously, spending them anonymously on tangibles is just as hard as spending any other kind of money anonymously.


https://en.bitcoin.it/wiki/Myths
Notice myths don't include "Bitcoins aren't anonymous"
in fact by that snippet, they are saying the contrary

And with what you've said many things

In the mail - Well a company would deliver it, to your address, unless you've got a fake address that's one step where they can trace you.

Buying the coins from your card, your bank will have a record of you transferring funds to the bitcoin company. If you did it by paypal, paypal will have the record, and your details.

Buying the product now you've magically completely anonymously bought bitcoins

Okay...so you use say Silkroad, the most popular site out there, the law is VERY much aware of it.

oh look here https://arstechnica.com/tech-policy/2012/07/australian-cops-tout-arrest-of-man-for-bitcoin-drug-deal/

I recommend you all research it a lot more before doing something silly. You will probably be okay for the most part but it wouldn't take much if you started buying things like arms for the law to keep an eye on you.
Drugs I imagine they care less about.

I honestly wouldn't be surprised if someone had their eye on this thread about it Laughing

I'd like bitcoins more if they were actually more legit and less illicit, as it is now we know if you're going to use it you're only looking for something illegal. If they had normal products and served as an alternative to regular payments with its own deflation/inflation, you could actually buy coins and get something cheaper than buying it directly, for example, then it'd be good. But as it stands now it's purely for buying illicit goods and everyone knows it. The first posts on this thread is an example of this.
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Rogerborg
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PostPosted: 15:04 - 07 Dec 2012    Post subject: Reply with quote

The Artist wrote:
Let's say I purchased an 8 year old vietnamise girl in the mail and paid through bitcoins. How can the payment be traced exactly?

"While the Bitcoin technology can support strong anonymity, the current implementation is usually not very anonymous."

Using bitcoins won't easily clue The Man in on what you're doing, but neither will using bitcoins prevent you being convicted once you're caught another way.

If you want to buy drugs and sex, then bitcoins are the least risky remote payment method. Just please don't confuse "no easily obtainable central record" with "no obtainable record".
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The Artist
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PostPosted: 19:18 - 28 Jan 2013    Post subject: Reply with quote

Anyone want any bitcoins?
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bEN_
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PostPosted: 19:31 - 28 Jan 2013    Post subject: Reply with quote

if you just want drugs there are plenty of sites with next day delivery on thee old 'surface' web
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Alpha-9
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PostPosted: 19:52 - 28 Jan 2013    Post subject: Reply with quote

The Artist wrote:
Anyone want any bitcoins?

Yes.
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