Bitcoins in 2014?

Retired_Member38 · Aug 19, 2014

ChrisMM said:
Just looking at localbitcoins right now.

You can buy a bitcoin in London for cash £280. And sell a bitcoin in London, again for cash £585.

I think sidestepping the online payment is far more profitable. Bitcoin delivery drivers?

You can't sell a Bitcoin in london for £585. Just because someone listed one at that price, doesn't mean they are selling.

bonusmedia · Aug 19, 2014

RobM said:
Wow way to ignore the obvious problem. Bitcoin *might* make 2 to 3 figures a week. Other ways make 4 to 5 figures a week. It's all there.

I'm just curious more than anything, I don't need a new job...

Established/mass markets don't tend to have much room for arbitrage since software can exploit tiny differences in milliseconds.

If you want to share a way to reliably make 4 or 5 figures per week with arbitrage I'm all ears. I'd be pretty amazed if that can be done in forex without gambling.

ChrisMM · Aug 20, 2014

Ahh i see

ChrisMM · Aug 20, 2014

Monkey said:
You can't sell a Bitcoin in london for £585. Just because someone listed one at that price, doesn't mean they are selling.

http://m.imgur.com/GtRrX8j

Scam? I've done online localbitcoin deals in the past without issue.

Are the offline deals a bit scammier?

Sent from my SM-G900F using Tapatalk

Retired_Member38 · Aug 20, 2014

ChrisMM said:
http://m.imgur.com/GtRrX8j

Scam? I've done online localbitcoin deals in the past without issue.

Are the offline deals a bit scammier?

Sent from my SM-G900F using Tapatalk

Scam or typo or something - there is simply no way anyone would willingly use their own money to pay that amount. There are loads of sellers on there willing to sell you a bit coin for far less.

Admin · Aug 20, 2014

I've been using BitBargain for a long time, prices may be a bit higher than elsewhere but is worth it for easy and safe trading.

BTC currently at £315

Admin

Retired_Member38 · Aug 20, 2014

LBC are about a fiver cheaper per coin and very easy to use also, there doesn't seem to be any reason to use Bitbargain over them?

I'm assuming that link you posted is an affiliate link, LBC have a program too - https://localbitcoins.com/affiliate/

timter51 · Aug 20, 2014

I use www.coinfloor.co.uk these days, a genuine UK exchange, I don't see the need for sites like LBC anymore. Now there is good volume on the exchange, prices are often close to BTC-e, if not Bitstamp. I've no idea if they would be good for arbing though, as deposits/withdrawals are handled manually I believe.

Retired_Member38 · Aug 20, 2014

£290 on Coinfloor
$478.92 bitstamp (£287)
£305 or £309 on LBC (former if you want to spend < £1000 only)

If I was UK based I'd far rather just pay the extra £3 per coin and not need to deal with currency conversions etc.

I just know the verification process is going to be a disaster as far as getting through it while not being based in UK though. I can't meet the inevitable requirements of a recent util bill in my own name, along with further issues of funding it from a corporate account based in a different country. So I've no real choice but to continue to use LBC unfortunately.

Retired_Member38 · Aug 20, 2014

edit- coins bought now thanks

Retired_Member38 · Aug 21, 2014

Has anyone bought a Trezor ? I've got a couple of them en route, tracking info provided already. http://www.bitcointrezor.com

This looks to me by far the best way to store coins securely.

timter51 · Aug 22, 2014

Oooh nice find Monkey... I've still got all my coins in a MultiBit wallet on my laptop, seriously need to sort something out, this looks perfect.

Retired_Member38 · Aug 22, 2014

timter51 said:
Oooh nice find Monkey... I've still got all my coins in a MultiBit wallet on my laptop, seriously need to sort something out, this looks perfect.

I just went and had a look in my post box, still nothing but its only been a few days and they post from Czech Rep. My own coins are still in a (backed up) multi bit wallet too. I'm secure from a point of view of flood/fire etc but could still get hacked I suppose. Having a Trezor just looks a so much cleaner solution, rather than trying to deal with these paper wallets and BIP38 and everything else.

If you're not regularly sending coins it would probably be worth just copying your wallet file and then uninstalling Multibit completely - no way to get hacked if you don't have it on an internet connected PC. And you can still have coins sent to you and verify they arrived using blockchain.info

aZooZa · Aug 26, 2014

Cancelled - purchased elsewhere.

Murray · Aug 26, 2014

aZooZa said:
Cancelled - purchased elsewhere.

Ahh you decided to get some bitcoin Dale?

SF · Aug 26, 2014

These are good its where i buy mine from https://bittylicious.com/

Murray · Sep 19, 2014

Monkey said:
imo you are never going to get a whole bitcoin for £250 again. Outside of a complete collapse, and at that point you probably don't want to be buying anyway

Is there a collapse happening

murph · Sep 19, 2014

Looks that way!

bonusmedia · Sep 19, 2014

Anyone care to appraise:
bitcoincalculator.co.uk
bitcoinprices.co.uk
bitcoinbetting.co.uk
bitcoincasinos.co.uk
bitcoingambling.co.uk
bitcoingames.co.uk

Just checked and I regged these on 4th March 2013.

I remember thinking about buying bitcoins then but it was too much hassle, it involved getting a USD$ Dwolla account and I couldn't be arsed.

That was a mistake.

Still not buying any now, too risky a punt.

timter51 · Sep 19, 2014

bonusmedia said:
That was a mistake.

Still not buying any now, too risky a punt.

This bear market has been foreseen by analysts for months on end, don't let it trick you in to making the same mistake again. Bitcoin fundamentals are sound, this is an almighty correction from the late 2013 bubble. You need to choose an entry point somewhere, because there's far more chance this flies back over £x,xxx and beyond, then of it dying a death.