How to buy Bitcoin ?

[Stephanie]

Please , if anyone is knowledgeable : how to purchase bitcoin ?

What’s Your experience with this ‘thing’ ?

How to go about it : for someone who knows Nothing about it ?

[Palatine]

Please , if anyone is knowledgeable : how to purchase bitcoin ?

What’s Your experience with this ‘thing’ ?

How to go about it : for someone who knows Nothing about it ?

Investing or spending?

If investing, just use something like Trade Republic or Revolut. Install app, set up account, transfer funds to it, and purchase in app. But you won't be able to transfer that to anyone. Just sell your stake when you need to. Fees are pretty small.

If you need to transfer, then use Coinbase. Same process of setting up an account. You can transfer but fees are horrible and only really work for big transactions.

[Palatine]

Bitcoin and most cryptos have little enough use case except for anonymity in the transaction. As such they're main use case is money laundering, tax evasion and getting funds out of despotic regimes.

Anonymity isn't 100% since most ways to buy and sell crypto involve dollars/euros going in or out at some point and those companies are increasingly subject to KYC/AML requirements.

Investment is hugely speculative and these assets lack any backing. They're only worth what the next person will pay for them and that next person is usually either a criminal who needs to move hard currency or someone speculating that the next guy will pay more. Consider it a casino where the only people making money are those making fees on the transactions.

Bitcoin value has held up remarkably well. I thought the whole pyramid scheme would have crashed by now but it seems the criminal use case is a permanent one. To me value is basically the electricity cost of creating a bitcoin, which will double by April this year. This has resulted in some early rises in value since the end of 2023 and is likely in my view to see further rises through to the end of the summer. I've stuck a chunk of change on bitcoin for that reason even though I fundamentally think it's scammy.

They're horrible for the environment too.

[Stephanie]

I just watched a YouTube video explaining it : even the shorter videos are 30mins .

Over my head .

I’d need to buy small amount to make a payment / repeatedly x

Anonymity be at forefront of my concern xxx

[Palatine]

I just watched a YouTube video explaining it : even the shorter videos are 30mins .

Over my head .

I’d need to buy small amount to make a payment / repeatedly x

Anonymity be at forefront of my concern xxx

Coinbase or similar is probably your best bet then. You'll be anonymous to whoever you're paying and anyone looking at the blockchain record. But not to coinbase. Try to make transactions as large as possible or fees get ridiculous.

Coinbase will create a wallet for you, and once you have the wallet address of the recipient you can make the transfer online.

If you really want to be completely end to end anonymous there are ways of washing the transactions but it gets increasingly expensive the more secure you want it.

[Stephanie]

Aargh … is Coinbase an App ?

I did see that buying bitcoin with bank card / ccard carries some 4+% fees ?

Small compared to what the recipient charges : by then I’m up to 30% fees ..


Blockchain record … : Chinese to me x

[Stephanie]

Coinbase or similar is probably your best bet then. You'll be anonymous to whoever you're paying and anyone looking at the blockchain record. But not to coinbase.

Try to make transactions as large as possible or fees get ridiculous.

Coinbase will create a wallet for you, and once you have the wallet address of the recipient you can make the transfer online.

If you really want to be completely end to end anonymous there are ways of washing the transactions but it gets increasingly expensive the more secure you want it.

Those be bank transfers ?



I do not like this new world 🌎 !

[Stephanie]

Coinbase or similar is probably your best bet then. You'll be anonymous to whoever you're paying and anyone looking at the blockchain record. But not to coinbase. Try to make transactions as large as possible or fees get ridiculous.

Coinbase will create a wallet for you, and once you have the wallet address of the recipient you can make the transfer online.

If you really want to be completely end to end anonymous there are ways of washing the transactions but it gets increasingly expensive the more secure you want it.

Thank you so much for info xx

Thank you for posting x

[Rachel Divine]

Bitcoin and most cryptos have little enough use case except for anonymity in the transaction. As such they're main use case is money laundering, tax evasion and getting funds out of despotic regimes.

Anonymity isn't 100% since most ways to buy and sell crypto involve dollars/euros going in or out at some point and those companies are increasingly subject to KYC/AML requirements.

Investment is hugely speculative and these assets lack any backing. They're only worth what the next person will pay for them and that next person is usually either a criminal who needs to move hard currency or someone speculating that the next guy will pay more. Consider it a casino where the only people making money are those making fees on the transactions.

Bitcoin value has held up remarkably well. I thought the whole pyramid scheme would have crashed by now but it seems the criminal use case is a permanent one. To me value is basically the electricity cost of creating a bitcoin, which will double by April this year. This has resulted in some early rises in value since the end of 2023 and is likely in my view to see further rises through to the end of the summer. I've stuck a chunk of change on bitcoin for that reason even though I fundamentally think it's scammy.

They're horrible for the environment too.

What I absolutely LOVE about it!

[robbie9]

What I absolutely LOVE about it!

You seem to be a seasonal poster these days