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screamingmimi

@PTFCI don't know if this is legit to post, if not mea culpa and delete but I found this video really helpful.  I'm doing it on my computer which seems to work better than on my phone.   I had loaded coinbase before I saw this (US only).  If there is something better (cheaper, more secure please let me know).  Tanks!

 

 

Edited by screamingmimi
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cobd

Thanks to @screamingmimi for that video.  Makes a lot of sense now.

I've read that it can be difficult to get these transfers to go through if the bitcoin wallet you're using considers the recipient to be suspicious.  Is that the case with coinbase?  I also noticed blockchain.info mentioned in that video - would they potentially have less oversight?

From what I gather - I need to use a service like coinbase, set it up with my bank account, buy bitcoins, and that's where things get fuzzy.  I know I can transfer to a different bitcoin wallet.  My question is what wallets work well for, say, transferring bitcoins to a merchant who's named after a certain kind of energy given off by stars?

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Natty
5 minutes ago, cobd said:

 

From what I gather - I need to use a service like coinbase, set it up with my bank account, buy bitcoins, and that's where things get fuzzy.  I know I can transfer to a different bitcoin wallet.  My question is what wallets work well for, say, transferring bitcoins to a merchant who's named after a certain kind of energy given off by stars?

I use the Electrum wallet. It was simple enough for me and I could possibly help you with any questions. I am unfortunate enough to not know that I needed a wallet during my first transaction with coinbase. I'm glad that you know to transfer to a wallet, cause I was unaware and will never be able to sign with them again.

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cobd
18 minutes ago, Natty said:

I use the Electrum wallet. It was simple enough for me and I could possibly help you with any questions. I am unfortunate enough to not know that I needed a wallet during my first transaction with coinbase. I'm glad that you know to transfer to a wallet, cause I was unaware and will never be able to sign with them again.

 

Sorry to hear that :-/.  I've been wading into this thing very carefully over the past few months, but I've thrown my hands up in frustration many times simply because the concept seems to be so opaque and fraught with peril.  It seems like so much better of a means than WU, though, because it seems to be so much more private.  I tend to start sweating bullets whenever I deal with somebody at the counter and they ask "so who are you sending money to?".

I'm a terrible liar.  it scares the hell out of me.

What kind of wallet should I be looking to set up?  Standard, two-factor authentification, multi-signature, or "watch bitcoin addresses"?

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PTFC

 

 

@cobd, you are really spoiled for choice, I use MultibitHD myself, there really are loads of quality free third party wallets of good quality. 

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cobd

Whelp.  I made the leap.  Bought myself a fraction of a bitcoin.  Bought a little extra just in case the exchange rate drops before it goes into my account.  It seems like a particularly volatile currency, but the trend lines are encouraging.

Getting electrum set up on my desktop.  We'll see how this goes.

 

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Natty

Who do you buy bitcoins from (other than coinbase?) Anyone?

 

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PTFC
55 minutes ago, Natty said:

Who do you buy bitcoins from (other than coinbase?) Anyone?

 

I use bitbargaindotcomdotUK.

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Natty

Any in the USA?

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screamingmimi
On 12/24/2016 at 1:46 PM, cobd said:

Thanks to @screamingmimi for that video.  Makes a lot of sense now.

I've read that it can be difficult to get these transfers to go through if the bitcoin wallet you're using considers the recipient to be suspicious.  Is that the case with coinbase?  I also noticed blockchain.info mentioned in that video - would they potentially have less oversight?

From what I gather - I need to use a service like coinbase, set it up with my bank account, buy bitcoins, and that's where things get fuzzy.  I know I can transfer to a different bitcoin wallet.  My question is what wallets work well for, say, transferring bitcoins to a merchant who's named after a certain kind of energy given off by stars?

I've been reading more and one place said to have a separate wallet on your computer only.  Buy through Coinbase then move the money to the other wallet.  And spread it over several wallets,   Two that get mentioned alot  are Circle and Electrum (I think).  Also saw Multibit.   There was a link on Reddit with info. but not sure I'm allowed to post.

Just when I think I get it I don't.  I get bogged down by the need for security.  Also with Coinbase I was able to set up my credit card which has 3.99% interest but I'm having a problem linking my bank account which is less interest.

One thing as I type I realize that our use could be entirely different than investors (someone mentioned how the value changes) and so we may not have thousands of dollars of bitcoins and deep security.   

I think it depends if you're buying on the dark net and  need total anonymity. Just when I think I get it, I don't Lol.

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screamingmimi
23 hours ago, cobd said:

Whelp.  I made the leap.  Bought myself a fraction of a bitcoin.  Bought a little extra just in case the exchange rate drops before it goes into my account.  It seems like a particularly volatile currency, but the trend lines are encouraging.

Getting electrum set up on my desktop.  We'll see how this goes.

 

Keep me posted.  I have a tab with electrum open to set up.   Mac won't let me install even when I tell it it's ok from an unknown developer.  Any other suggestions?  Just looked at Multibit and it melted my brain

Edited by screamingmimi

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Natty

I bought some with paypal  through virwox and converted to BTC. There is a 48 hr waiting period. I only had to wait 24 hrs. It has multiple fees though. @screamingmimi circle does not participate in BTC anymore. They were awesome. I am waiting on gocelery to add my funds but have to wait 10+days with them. Fees are not too bad but I'm a rookie at this bitcoin stuff.

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screamingmimi
14 hours ago, Natty said:

I bought some with paypal  through virwox and converted to BTC. There is a 48 hr waiting period. I only had to wait 24 hrs. It has multiple fees though. @screamingmimi circle does not participate in BTC anymore. They were awesome. I am waiting on gocelery to add my funds but have to wait 10+days with them. Fees are not too bad but I'm a rookie at this bitcoin stuff.

Thanks for the info.  I have a Coin buy Account and set up a multibit account yesterday. I'm waiting for coinbuy to approve my checking account which is cheaper than Visa/Debit.   I'm still a bit confused but I also think I have to stop thinking like I'm some big investor and need tons of security.   
I don't need anything right now but I want to understand how this works. One place that I buy from alot got busted by Paypal and right now he only has Bitcoin.  But you do get a discount.    

I'm a total rookie too @Natty and it seems overly complicated.  Add that to a barely working brain and yikes.   I'd like a primer.  step buy step on how to do it.  I think next is buy a small amount of coins but I don't even know where to do that, or how really.  

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PTFC

@screamingmimi, try to think of it as simple as, buying coin from seller, goes straight to coinbuy wallet, then you transfer it to multibit wallet. Then spend. I have only ever purchased bitcoins for use at the time. Fortunately for me, purchasing involved direct bank transfer and instant transfer of bitcoin also, then, as I said just transfer over to my own wallet and pay the vendor.    

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