Bitcoin Suppliers

[YoMan]

@screamingmimi I just sent you a PM.  But yes I have been looking for other outifts where we can make a purchase by not leaving the house.  They are hard to find

 

[screamingmimi]

@screamingmimi I just sent you a PM.  But yes I have been looking for other outifts where we can make a purchase by not leaving the house.  They are hard to find

I just bought a fraction on ebay.  It was $2.09 so I'll see how it goes.   Off to read your PM. Thanks.

 

[screamingmimi]

Woohoo! Got my bitcoin.  A whopping .0010!  or .92 cents!!  It's still pending so I'm not sure how long it will take before I got on a spending spree.  @PTFC or @YoMan Should I move this to my multibit wallet?  Just use the send option?    

I feel like I just made some monumental transaction! Lol 

 

[PTFC]

Woohoo! Got my bitcoin.  A whopping .0010!  or .92 cents!!  It's still pending so I'm not sure how long it will take before I got on a spending spree.  @PTFC or @YoMan Should I move this to my multibit wallet?  Just use the send option?    

I feel like I just made some monumental transaction! Lol 

BOOM! Yeah, move it to YOUR wallet!

 

[screamingmimi]

BOOM! Yeah, move it to YOUR wallet!

It's in a wallet in Coinbase. I'm confused how to send it to Mutlibit.   There is a wallet directory, is that the address?  I have it in drop box. It also asks how to receive payments, blockchain info?  a few other options.  I don't know what to do with that?

EDIT: when I try to transfer to Multibit it tells me I can't sent to my own address even though I'm using a different wallet address and in multibit HD to request is greyed out.  I can set up another wallet in Coinbase so I'll try that. Any ideas @PTFC or do I need a different wallet?  Color me confused.

Also on a different subject, what are some good wallets and places to buy for australia?

 

[screamingmimi]

Here's another question. What's the difference between buying a btc vs a mined btc?

 

[PTFC]

It's in a wallet in Coinbase. I'm confused how to send it to Mutlibit.   There is a wallet directory, is that the address?  I have it in drop box. It also asks how to receive payments, blockchain info?  a few other options.  I don't know what to do with that?

EDIT: when I try to transfer to Multibit it tells me I can't sent to my own address even though I'm using a different wallet address and in multibit HD to request is greyed out.  I can set up another wallet in Coinbase so I'll try that. Any ideas @PTFC or do I need a different wallet?  Color me confused.

Also on a different subject, what are some good wallets and places to buy for australia?

Your multibit wallets address should be noticeable when you open it, a long line of characters. Copy /paste it to the coinbase wallet and send (I assume, never used coinbase myself). If I remember rightly, go back to multibit after this and "receive" it. Same applies if you use multibit to make payment. The vendor will provide you with their wallet address which you copy/paste and send to. 

 

[YoMan]

Here's another question. What's the difference between buying a btc vs a mined btc?

Buying DIRECT is more or less what you want.  MINED means your btc will pay off over a series of days...30, 60, 90, 100, I have even seen a 200 day payout.  Stay away from those unless you don't mind waiting for your btc total to arrive in your wallet in increments of like .002 every day for 60 days, etc(EXAMPLE)

 

[cobd]

From what I gather, bitcoin mining is a means that the community uses to verify transactions and track the amount of currency changing hands, as well as a means to introduce new currency into the marketplace.  It's the way that bitcoin self-regulates as a currency because there is no governing body that actively does that.

From what I understand: normal desktop CPUs and GPUs cannot mine efficiently enough to produce any kind of real profit over the amount of electricity used.  Specialty hardware is available if one was interested in getting into this, but you need to weigh the cost of the hardware and it's running costs against potential gains.  The other thing to keep in mind: as the currency grows, the calculations become more complex, and over time that piece of hardware will produce less especially if more and more processing power enters the pool of miners.  There is a finite amount of new currency introduced over any given period of time, and that must be divided proportionally to each miner and how much they contributed.  If they indiscriminately threw new currency into the economy it would cause hyper-inflation and the value of a bitcoin would drop like a rock.

It's a complicated question.  From what I've read, it doesn't appear that hobbyist bitcoin mining is a particularly profitable venture.  Data centers have the advantage of cheaper electricity costs than home users and access to far more computational power.  I could be wrong, I only did a little bit of reading about this and applied my own (admittedly rudimentary) knowledge of economics.  If somebody else can elaborate and/or has a different take, please do share.

 

[screamingmimi]

Your multibit wallets address should be noticeable when you open it, a long line of characters. Copy /paste it to the coinbase wallet and send (I assume, never used coinbase myself). If I remember rightly, go back to multibit after this and "receive" it. Same applies if you use multibit to make payment. The vendor will provide you with their wallet address which you copy/paste and send to. 

No it wasn't there.  That was the problem I found no wallet address.  Just what I said. And when I put that in Coinbase it told me I can't send to myself.  Right now I'll just keep it in coinbase.

@YoMan and @cobd  I had been looking on ebay and some said mined btc but they would go directly into my wallet. So I wasn't buying those that pay out over 30 or whatever days.  I emailed a seller and he said all coins now and in the future are mined and so the price will reflect the cost of the mining including electricity and expenses and why the cost of coins will go up.    

What I don't get is if btc are virtual, how can there be electrical costs?  @cobd  Way beyond what my brain can process and really, I just need to be able to get them to pay on sites.  Oh and yes someone broke down the costs and not for a hobbyist who wants to make $$

 

[screamingmimi]

Your multibit wallets address should be noticeable when you open it, a long line of characters. Copy /paste it to the coinbase wallet and send (I assume, never used coinbase myself). If I remember rightly, go back to multibit after this and "receive" it. Same applies if you use multibit to make payment. The vendor will provide you with their wallet address which you copy/paste and send to. 

Well it just let me request but I was just testing and didn't want to go through with it but there was no way to cancel. .  There was 0 in it so oh well.   I'll have to toy around.  I do get the address but for some reason things had been greyed out. Thanks for the help

 

[cobd]

@screamingmimi , the reason electrical costs factor in is because bitcoin mining uses a *lot* of computational power.  Extremely complex mathematical equations are being thrown at your hardware all the time, and processing those equations puts a heavy load on your processor.  Processors draw power in a dynamic fashion: if they're not doing much, they require less electricity to operate.  If they're doing a *whole lot*, like in the case of bitcoin mining, they require more.

Basically, the more work your processor is doing, the more energy it requires to do that work.  That's where electricity comes in.  Since electricity has a real-world cost attached to it, and it must be used in order to mine for bitcoins, that must be factored into your net returns from bitcoin mining.

 

[screamingmimi]

I was just looking at my coinbase account and someone  tried to hack it. WTH?  (Wrong country wrong ISP.)  I have security set up but maybe not enough.

 I accidentally moved something to my Vault. When I tried to move it back unsuccessfully, they told me I needed two emails to confirm the transfer.  I have two step verification with an email and sms text.   I have not set up google authenticate yet.  

Can someone who uses coinbase explain this to me?   

 

[cobd]

I can't say that I know anything about that.  Have you input two e-mails for verification?

I gotta say, I kinda wish I had bought more back when I bought my bitcoins.  They're up past $1100 at the moment.  I made over a hundred bucks just by waiting for the transfer to come in.

Wish I knew more about investing.  Last time it was this high it came crashing down rather quickly.  

 

[Natty]

I gotta say, I kinda wish I had bought more back when I bought my bitcoins.  They're up past $1100 at the moment.  I made over a hundred bucks just by waiting for the transfer to come in.

You and me both. Man that would have been sweet, but 100$ is a lil something.

 

[screamingmimi]

I can't say that I know anything about that.  Have you input two e-mails for verification?

I gotta say, I kinda wish I had bought more back when I bought my bitcoins.  They're up past $1100 at the moment.  I made over a hundred bucks just by waiting for the transfer to come in.

Wish I knew more about investing.  Last time it was this high it came crashing down rather quickly.  

It just went down pretty low so I bought a small amount.  I'll keep an eye on it.  What I don't know is how this works with income tax and capital gains.

And keeps dropping.

 

[screamingmimi]

@PTFC   Didn't you say you have Multiibit?  It doesn't seem like the value in my wallet is changing to reflect whats going on in the market?  Am I missing something?  thanks 

 

[PTFC]

@PTFC   Didn't you say you have Multiibit?  It doesn't seem like the value in my wallet is changing to reflect whats going on in the market?  Am I missing something?  thanks 

I haven't opened mine in a long while, but I had a fraction that was worth about 7$, I had a look and it's worth nearly $20 now! It may take some time to reflect changes, I actually had to update the software too. 

 

[screamingmimi]

I haven't opened mine in a long while, but I had a fraction that was worth about 7$, I had a look and it's worth nearly $20 now! It may take some time to reflect changes, I actually had to update the software too. 

I'm obsesses with it and it dropped a ton.  It was over $1000 then it was at $850.  I'm trying to get some low so I'll have it when I'm ready to buy and hope it's up when I do buy.    Oh I just wasn't reading ir right.  MB customer service is way better than Coin Base but they did find a bug with how a vault works so they credited me the small amount stuck in my vault to my wallet.   

Don't I sound like I know what I'm talking about compared to when I first came here?  Lol  

 

[Natty]

I have noticed it has really been fluctuating within the last month. I also read that the same thing happened in previous years, around this time of year.