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Buying Bitcoin or Litecoin etc.
I am looking to buy very small amount of any of above currencies for curiosity and to see how the system works, how it is stored etc.
Happy to provide ID etc. to a recognised seller. What do you recommend is the best place to buy in the UK? Ideally would want to do a direct bank transfer or pay cash.
Thanks
Comments
Depends on what coin you are wanting to buy. https://coinbase.com/ is a decent seller. other wise Local Bitcoins should be able to help you out
Playing with bitcoin, litecoin, or a host of cryptocurrencies is not a good decision. Many people believe that these currencies are outside of the government's control and thereby they are protected but if you research it the person who created it is unknown. I say unknown as there is a person who claims to have invented it by writing a paper but no one knows who it is.
If you understand the world systems, "The Government" then you would understand that this currency could not have happened if there were not for someone who believes that they have "power" to create it.
When I traded stock some people wanted me to read, "The Creature from Jekyll Island." I did not read it but after several events, I came to understand there are people who know exactly where the market is going... So essentially it is a scam... and it is under the control of people who are connected or affiliated with the government. God bless you!
I hold Litecoin, I'm based in the UK – can provide you with my personal information (verifiable) before any transaction takes place.
I don't tend to sell anything below 1 LTC (minimum) – if you're interested, just shoot me over a PM.
@ljseals No? You can read the code and methods behind most cryptocurrency, there is no 'backdoor', the network is secured by mathematics which you're free to look into.
Secured by mathematics?
If you're going to use coinbase might as well buy/sell on gdax because it's cheaper.
Just use localbitcoins.com so that you don't open a thread about getting scammed.
When you said it that way, it does sound ridiculous.
Try https://bittylicious.com/. Used them before to sell my BTC. no issues.
Yes, probably Coinbase will fit your needs, though it's terribly expensive. They charge huge fees for basically everything, e.g. 0,001 BTC for every sending transaction, regardless of how much this is worth atm, also buying and selling BTC, so be prepared for this. Also they require a ridiculous amount of confirmations that sometimes won't work. (e.g. confirming my passport didn't work until trying in Firefox, my credit card works on mobile but not on PC, getting money from selling bitcoins require additional confirmations, etc.).
BitPay in the US is told to be way more relaxed and comfortable.
Yep, it's secured by a variety of algorithms. Lots of these algorithms are already used commonly: hashing, POW, signature verification, etc...
No single person controls Bitcoin, the algorithms used dictates the Bitcoin network.
Lots of things in your life are already secured with math: file encryption, HTTPS, Bitorrent, Secure Boot +
dmverity (used when your devices boot). It should not surprise you that Bitcoin is no different.
If you are to believe reports that the "government" can hack into your computer, listen to your phone conversations, and read your e-mails can it be also plausible that the government can trace bitcoin purchases and determine who made a transaction?
Many times we put our trust in things that even on it face makes no sense. A person who no one knows made a cryptocurrency that is not back by anything but a computer algorithm holds some kind of intrinsic value, that does not impede on any monopolized government currency?
If one were to make a counterfeit bill and try to go and purchase something in the store, that person runs the risk of being arrested and charged. Now Bitcoin has a market cap of $42,040,871,798 and with all that money we are to assume that the government is not involved?
Interesting read:
https://en.wikipedia.org/wiki/Tulip_mania
Definitely not the cheapest, but a few Cex stores have bitcoin ATMs in them weirdly enough.
I do not believe that the government is stalking me, but I act like they are. I encrypt all my disks and secure all my servers.
Of course the government can track Bitcoin transactions! Anybody can! The easy tracebility of transactions is a fundamental part of BTC. The theory behind this is that if everybody is watching, no one can commit evil without going unoticed.
Obviously the government would be involved, but which government? Anybody in the world can use BTC. Heck, all of the world governments could be involved! What could they do? Sell/buy a crap ton of the currency and try to destabilize the market? What would happen? Nothing!
None of us are in Bitcoin because it is a great way to earn money (but I can't deny it is). We are in it because we believe it is the currency of the future. The market price isn't going to change that.
The currency makes perfect sense to me. A system that is fully transparent (everybody can see the transactions and view/change the code). A system that is built on algorithms. Algorithms never become corrupted, never give up. Every coin is backed by the resources spent to mine it (fiat is backed by the government). There is literally no downside of the currency (obviously, there are downsides, but they have nothing to do with what we are currently talking about, I can explain them later).
Remember, a counterfeit bill is only counterfeit to the seller. If the seller wants to accept counterfeit bills, are these bills still counterfeit?
lol my coinbase account has been "verifying" for 3 months
We have them too, but I wouldn't DARE stick my debit card in that thing. It's a fraud scheme waiting to happen. (not that I don't trust Bitcoin, rather the machine)
I recommend localbitcoins.com
I always buy with SEPA Banking and had no problems within the last three years. Payment is complete after 12-18h for me, Bitcoins were always released fast.
If you're looking for a seller offering PayPal payment have a look at this guy https://localbitcoins.com/accounts/profile/overthetopch/
haha im not surprised.