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Originally Posted by moltuae
It's probably a lot easier to buy Bitcoin than you think. I haven't directly purchased BTC for several months (I'm increasing my holdings mainly through mining and trading altcoins now) but in the past I've always used the UK-based Bittylicious to buy BTC (or ETH). You simply enter the amount you want to buy and one of your Bitcoin addresses, then you'll be prompted with the information you need to make an instant bank transfer. Once the payment is acknowledged and received, you'll usually receive your BTC a few minutes later. |
Oh i got that BTC are curently a little large and that they segment down and that you can buy parts. Yet to play with that. Interestingly i've got a Revolut app on my mobile that's great for free international bank transfers, don't think they've got into bitcoins yet, but can see them doing it in the future. Origionally got for travelling, but they've locked free cash atm withdrawls down to £250 recently! Still saved me a fortune buying european festival tickets and buying a projector from ireland in euros!
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For a quick and easy PC-based wallet, try Electrum. There are better ways to secure larger amounts of BTC, but Electrum is a good one to get started. Have a play with Electrum and post one of your addresses. I'll send you a couple of quid's worth so that you can see how it works.
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Downloaded that last night. Just watched a youtube vid on setting it up and now know the odd collection of letters is an address, which I pm'd as i'm not sure about the wiseness of posting adddresses on a public forum or if i'd be susceptable to random acts of kindness
I also added the app on my phone, but unsure if it's the same wallet as I added extra words in the app (option) and the phone one didn't seem to have that. However learning curve!
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Indeed, Bitcoin may not be the one that ultimately succeeds in mass adoption and it's certainly worth keeping a diverse portfolio of a number of different cryptocurrencies and keeping a close eye on developments. I think it's inaccurate to compare it to to Altavista, Myspace, etc though. Bitcoin creates a network that is "the internet of money"; its use as currency is just one application. It's probably fairer to compare it the 'Internet Protocol Suite' (eg TCP/IP). Like those standards, it forms a network and foundation for applications, which can use it to develop and evolve. Despite the age of the internet network protocols, most of the early ones are still used today (hell, we're still using IPv4, even though IPv6 was set to replace it about 20 years ago when we began running out of IPv4 addresses). Like-wise, I suspect we'll see Bitcoin continue to exist and evolve for a long time, working along-side (rather than competing with) other cryptocurrencies.
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I was just using well known net progressions rather than a direct comparison (i'm just learning, so my analogise are ropey)
I also get that it's a decentralised currency, so I can't see how any buyouts could happen....Though it's still a little like shares in a company, in my head at least!
I'm looking at hardware at the moment and getting something fair in the UK for bitcoin seems tricky and a high investment to start with (all my PC tech is somewhat old and i'm not a PC gamer). However Scrypt and Litecoin seems a much lower buy in. Those LS3+ look nice, but the whole from China, Waiting, buying in BTC, high price and CUSTOMS is a big initial step (Though there's one+psu on Ebay in the Netherlands for ~£2600).
However there's some Litecoin Gridseed miner 5.2MH/S in France on ebay round the £175. It's about a 100th of the speed but also a 20th of the cost
http://www.ebay.co.uk/itm/Litecoin-G...MAAOSwG2tZ585s
It looks like a fair toe dabble?
Lee