BitCoin? Why isn't it more widespread?

[Kelakarekrew]

Just a question? Why isn't BTC more widely adopted in this industry? I love using it. it's relatively anonymous and provides proof of send and receive. *lite takes it but I've had iffy quality with them and don't like losing my money to crumbly broken messes.

 

[Biteme]

If people aren't accepting it it's probably because it's the ultimate fiat currency---there is nothing backing it---& it's incredibly easy to manipulate. As a result thebitcoin you have that's worth $500 today may be worth $400 tomorrow.

 

[dennisrodman]

How do i get into this whole Bitcoin scheme? Seems like I have to do a lot just to transfer money, including downloading a program that takes up 170GB. Can anyone explain this compared to Moneygram?

 

[Kelakarekrew]

How do i get into this whole Bitcoin scheme? Seems like I have to do a lot just to transfer money, including downloading a program that takes up 170GB. Can anyone explain this compared to Moneygram?

How do i get into this whole Bitcoin scheme? Seems like I have to do a lot just to transfer money, including downloading a program that takes up 170GB. Can anyone explain this compared to Moneygram?

You don't need to DL anything. I use a website called coinbase. I bought BTC there with a debit card several times.  It's always a bit dicey to store too much $ in BTC as it's like a stock, value changes constantly.  In the past month it has fluctuated from ~$900 up to ~$1300. Right now it is  0.19% down from the start of the day.  Like mentioned above by BiteMe sudden crashes have happened and may happen again.  I buy enough to cover my purchase and a little extra just for fun. I've gained about $40 in value off fractions of a BTC I've left in the account.  I think I own about 0.117 BTC at the moment. 

There are other similar currencies, ETH (Ethereum) went on a tear last week or so and gained ~500% but it isn't accepted widely yet. I wish I had bought it on speculative terms at $1-2/ETH in Jan as it hit $54 at one point. BTC made a few early buyers wealthy when it bounced a few years ago. I could have put $500 ETH in early and sold it for a considerable profit.

A lot of shops, if not most of them, ask for btc. WU or MG time is over.

Summary: It is already adopted in this industry.

Yeah I haven't used WU or MG in a while but I also had to stop ordering for a few years for employment reasons. I only order from a few places and only 1 (starlite) accepts BTC. If you can point me to others that do and are reliable I'd appreciate it. I thought it was an option at PPE at one point but isn't now unless I'm just not noticing that option when I check out. I'll look more carefully next time. Their CC service hasn't yet screwed me but it makes me nervous to give it out.

 

[jax1982]

I read all about the Bitcoin doing a Wallet and choosing a Wallet, then buying the coins etc. I was like NO WAY! And I've recently had to order a bit more using MG or WU, I had one bad receiver for my first time today AND my first time using Xoom, - I got banned for it. There is an Excellent vendor that shows the customers how to use Bitcoin thru a Payment method called Coinbase, they are very careful about making sure you are who you say you are, but the money transfer was so easy, like Paypal with coins, After seeing things get more difficult, I almost spent $150 more for a product instead of just taking the plunge, I am So So Very Glad I did, and many vendors give a discount if you use BTC. It's worth it to get an account : )

 

[Kelakarekrew]

I read all about the Bitcoin doing a Wallet and choosing a Wallet, then buying the coins etc. I was like NO WAY! And I've recently had to order a bit more using MG or WU, I had one bad receiver for my first time today AND my first time using Xoom, - I got banned for it. There is an Excellent vendor that shows the customers how to use Bitcoin thru a Payment method called Coinbase, they are very careful about making sure you are who you say you are, but the money transfer was so easy, like Paypal with coins, After seeing things get more difficult, I almost spent $150 more for a product instead of just taking the plunge, I am So So Very Glad I did, and many vendors give a discount if you use BTC. It's worth it to get an account : )

Yeah, I use coinbase and it's super easy, just need an acct or wallet number to send to and off it goes. Their fees aren't bad and they allow CC, Paypal, bank wires, etc... 

The discount that tramadolshop gives for BTC is nice, and they have legit Som@. I'm pretty much only using BTC now when possible. There are other more cryptologically secure alt currencies that I hope will also become accepted. 

If anyone can point me to other reliable and/or affordable sources for bennies that accept BTC I'd be happy to hear of them. Starlite is so far the only other I've tried with BTC.

 

[jax1982]

Yeah, I use coinbase and it's super easy, just need an acct or wallet number to send to and off it goes. Their fees aren't bad and they allow CC, Paypal, bank wires, etc... 

The discount that tramadolshop gives for BTC is nice, and they have legit Som@. I'm pretty much only using BTC now when possible. There are other more cryptologically secure alt currencies that I hope will also become accepted. 

If anyone can point me to other reliable and/or affordable sources for bennies that accept BTC I'd be happy to hear of them. Starlite is so far the only other I've tried with BTC.

Hi @delawaredrew since you are a sponsor you can look in the Email Only Vendors Section, I'd check those sources out for Bennies with BTC, I'm pretty sure you'll have some good luck  

~ Peace,    

Jax

 

[yesme]

Question about bits.  Is there any safety net using bits if vendor doesn't send letters? I liked pay pal because they will reimburse if seller doesn't come through. 

 

[Kelakarekrew]

Just to update this. Coinbase suddenly closed my account last week with $300+ in BTC and ETH and a few USD. I was able to transfer the coin but nothing to do about the USD. Their support is pretty much just acknowledging that you sent them a question. I just want to know why they closed my account but no reason yet. 

So Coinbase is no longer in my good graces. There are many other online and offline wallets that you can store your coins in but the exchange to $US feature of coinbase is what had me excited. Oh well.  On the plus side being unable to sell my coins means I have benefited from the recent boom in value. Both ETH and BTC have risen sharply in the last few days. 

I'm currently using freewallet which is an app only, Android in my case but it's probably for iPhone too. I can buy, send and receive through them. Just not cash out.

 

[Natty]

I currently use go celery after coinbase closed my account. Circle was great while it lasted. I love me some BTC. It broke the record high today.

 

[Kelakarekrew]

I currently use go celery after coinbase closed my account. Circle was great while it lasted. I love me some BTC. It broke the record high today.

What option on celery do you use to buy, wire or ach? The fees are a little steep for both but if coinbase shuts me down again I'll have to find a new way. I signed back up under a different email.

BTC and ETH boomed in the last few weeks.  I was considering buying a bunch of ETH as speculation when it was ~$8, then again when it hit $40. Not doing either proved a bad decision as it hit $80 at one point. Would have been nice to make a quick profit. Some people think ETH will head much higher soon due to some new development on the horizon, but it's tough to dump in a large amount of $ knowing it may just sit at $70-80 or even fall. I keep missing out however, and would really kick myself if I missed again. 

@Yesme - There are a few escrow style exchanges but the vendor would have to agree to use them. I've used 4 payments to 2 vendors with BTC with no issues yet. In this game I think it's fair to be worried but choose the reputable vendors and you'll probably be ok.

 

[Natty]

What option on celery do you use to buy, wire or ach? The fees are a little steep for both but if coinbase shuts me down again I'll have to find a new way. I signed back up under a different email.

I use my bank account.

I also tried to use a alternate e mail for coinbase but led to no avail. Fuk em.