Bitcoin Suppliers

[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?

 

[Natty]

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.

 

[cobd]

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"?

 

[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. 

 

[PTFC]

Excellent video @screamingmimi!

 

[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.

 

[Natty]

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

 

[PTFC]

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

I use bitbargaindotcomdotUK.

 

[Natty]

Any in the USA?

 

[screamingmimi]

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.

 

[screamingmimi]

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

 

[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.

 

[screamingmimi]

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.  

 

[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.    

 

[Natty]

I bought a small amount first to see if I was doing it right, don't worry, you will get it. You just need the right set-up then you will be golden.

 

[screamingmimi]

I bought a small amount first to see if I was doing it right, don't worry, you will get it. You just need the right set-up then you will be golden.

And there in lies the confusion. The right setup.  I have Coinbase right now.  Waiting for them to approve my bank account. Have Multibit set up too.   My understanding is to move the coins from Coinbase to Multibit.   Am I close?

 

[PTFC]

And there in lies the confusion. The right setup.  I have Coinbase right now.  Waiting for them to approve my bank account. Have Multibit set up too.   My understanding is to move the coins from Coinbase to Multibit.   Am I close?

That is spot on! You have it!?

 

[YoMan]

That's what I'm trying to grasp, setting it up right.  I used Coinbase but right now my credit union is calling in fraud alerts when I try to connect.   Then I found some localcoin site, not sure what to do with that and I see a tab I have open with electrum Bitcoin.

I understand the concept I just don't know the steps 1,2,3 etc spelled out like I'm a 3rd grader so that my wallet is secure (do I need a vault?) and then I can buy.  

We need a seminar or something.  Learn as we go.   And then how do you pay?   Gah!!!     

Coinbase is like that.  I can't figure out how ppl buy on there cuz yes your card gets flagged EVERY time you try and buy.  Best thing to do is buy some coin on ebay with cash or credit or buy with cash on bitquick.co

Bitquick.co is easy as cake.  Does coinbase have wallets?  If not then there are other providers.  I would get a wallet that's anonymous like how blockchain offers; other than that its easy to track who you are and who you send to.  Now someone like me, I do alot of gray area biz thru BTC so I don't want anyone except certain vendors to know my personal details, ya know?  And a vault is like a wallet I guess.  That I am not totally sure about.  I just store all my BTC in my wallet.  I think a vault is something more secure and you can transfer your coins back and forth btwn wallet and vault?  

But first...you get a wallet.  Your wallet will and should generate a BTC address for each and every transaction.  So you find coin to buy, send the seller your wallet address, and when trans clears the coins are sent directly to your wallet where you can send and/or receive all the BTC you want

 

[YoMan]

Any in the USA?

Bitquick.co

 

[screamingmimi]

That is spot on! You have it!?

Thank you!   Now I just need some money to buy a small fraction.

@YoMan  How is this different than buying from Coinbase which BTW lets you make as many wallets a you want. From what I read you buy from coinbase and transfer to Multibit. More confidential.    I've read though that it can be scary, getting scammed by sellers.  I didn't even know you can buy bitcoins on ebay.  How do you do that?    The video I posted said meet someone with cash but that's not possible for me so I need to be able to do everything online.

Just looked at Bitquick and no can do as I am housebound.