Bitcoins

mmedia

20% of my savings. They have been sat there earning 1% for a few years devaluing due to inflation.

If i lose it, i'm fine with that. If i get lucky, i could be buying a house with those Bitcoins.

dryhat

Happy Satoshi Day everyone.

One small step for a pseudonym, one giant leap for mankind


(Today is the 5th anniversary of the first ever Bitcoin transaction - the so-called "Genesis block"...

http://blockexplorer.com/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f)

[Deleted User]

Speaking of (the real) Satoshi, here's something that I'm sure will fulfil the dreams of (the fake) MSE Satoshi: http://coingen.io/

dryhat

citricsquid wrote: »

Speaking of (the real) Satoshi, here's something that I'm sure will fulfil the dreams of (the fake) MSE Satoshi: http://coingen.io/

I would advise people to stear well clear of this racket.

JohnRo

Seems like the perfect opportunity for him, btc difficulty just ramped up to 1.42 Gig and is showing no signs whatsoever of slowing down. Meanwhile the world is screaming out for a silver backed crypto.. isn't it?

It'll be interesting to see what effect the ascent of commercial mining has in the next year since worthwhile hobby mining is becoming increasingly pointless in terms of any meaningful effect and return.

padington

Can anyone help, what's the best way to turn a bit coin from a paper wallet, into another currency.

Do I need to scan the QR code onto the legitimate bit coin web site and move it into 'digital wallet' and then move that to an exchange ?

If so what's the best wallet and exchange to buy into quark, peer and mega coin ?

csm888

padington wrote: »

Can anyone help, what's the best way to turn a bit coin from a paper wallet, into another currency.

Do I need to scan the QR code onto the legitimate bit coin web site and move it into 'digital wallet' and then move that to an exchange ?

If so what's the best wallet and exchange to buy into quark, peer and mega coin ?

Create an account on http://blockchain.info (use a strong password)
Go import/export and "import private key" or "Scan with Webcam"
This will give you access to the bitcoins on the paper wallet, after this you can transfer them to another exchange to buy your alt coins.

Sorry I can't really recommend an Alt exchange, btc-e.com is probably the biggest (so arguably the safest, but has limited selection of coins)
Crypsty is also pretty popular.

Best place for decent advice is probably
https://bitcointalk.org/index.php?board=67.0

You need to understand the workings of a pump & dump,
http://www.wallstreetcrypto.com/2013/12/anatomy-of-pump.html
Remember if you can't see who the patsy is... its probably you.

(FWIW: my advice is to avoid alt coins, I don't see them having much of a long term future, and you are coming late to the trading game)

ben501

Without going into too much detail, other than to say I plan to spend it at the end of the year, I've decided to try & buy some Bitcoin. Only £100- £200 worth. Thought it would be easy. Create account with Mt.Gox, get account verified, buy Bitcoin.

But it seems it not that easy. I can't do a bank transfer in the UK. Have to use MoneyPolo. In order to load my MoneyPolo account I have to use one of several methods I've never heard of.

I had a look at bitbargain but apart from 'money transfer' all are unknowns. Money transfer doesn't seem an option anyway as the Halifax only offer an international option.

Is there a simple, and preferably cheap method to buy a small amount?

And yes I'm aware I could easily lose the lot but I'd be no worse off than if I bought a couple of lottery tickets every week!

[Deleted User]

ben501 wrote: »

Create account with Mt.Gox, get account verified, buy Bitcoin.

Gah, noooooooooo. Not gox! noooooo!

ben501 wrote: »

Is there a simple, and preferably cheap method to buy a small amount?

http://localbitcoins.com you can buy via UK bank account, or meet someone in person and buy with cash.

http://bitstamp.net a European exchange that will do same day transfers from UK bank accounts (using SEPA) and you can buy instantly (my preferred method).

MtGox is awful, steer clear. They have liquidity problems (you can't get money out, and often have problems getting bitcoins out).

mmedia

https://www.bitbargain.co.uk is another.

A good run up today on the exchanges. I managed to buy some more a few days ago, but will be holding for the long term