2014: The year to start accepting Bitcoin at your business

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http://bitcoinwarrior.net/2013/12/2014-year-start-accepting-bitcoin-business/

Submitted December 26, 2013 at 01:29PM by BTCwarrior

I was disappointed when they wouldn't accept bitcoins..

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http://i.imgur.com/3HxLQBb.jpg

Submitted December 26, 2013 at 05:44PM by thedarcy

A warning/reminder to those selling Bitcoins on localbitcoins.com

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Yesterday someone attempted (unsuccessfully) to scam me out of some Bitcoins I was selling.

They initiated a trade, causing my Bitcoins to be held in localbitcoins' escrow. Then asked to be emailed an invoice for the Bitcoins, else they couldn't buy them without some kind of receipt, claiming they were new to localbitcoins and didn't know asking for an invoice wasn't normal.

In this instance, I did email them one as asked. They then used my email address to spoof a localbitcoins email to me, claiming the user had paid me.

The email suggested the payment was being held by localbitcoins and would be sent to my account on record later and that I should release the coins.

Obviously I reported the trade immediately and did not release the coins, but I figured other newer users might not realise this is a scam.

So in short:

• 
  

  If someone buying Bitcoins from you asks for you to send them an email of any kind. Be wary, they are probably trying to get your email address so they can send you a fake email from localbitcoins.

  
  


• 
  

  If someone really does need an invoice (highly unlikely), at most you should offer to upload a pdf using the attached documents feature.

  
  


• 
  

  Also, I'm 99% sure localbitcoins does not have any fiat escrow service. So if you get an email saying someone you're trading with has paid into localbitcoins' main account. Open a support ticket and do not release your Bitcoins. They are trying to scam you.

  
  

Submitted December 26, 2013 at 11:43AM by viralplatipuss

My local Chase branch manager allowed me to use one of their meeting rooms to make a large localbitcoin.com transaction.

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I've been selling BTC and LTC through craigslist, localbitcoin.com and litecoinlocal.org I always spend a lot of time with the new clients, especially if they are new to crypto. I will help them setup their wallets, show them how to use the exchanges, and most importantly, how to protect their coins.

I've built up a nice customer base, and I am now receiving phone calls from friends of clients. Some of these people are pretty well off, and they are willing to make large cash purchases. I have made some five figure sales of BTC, but only from repeat clients that I could trust.

On monday of this week, a new user of localbitcoin initiated a large buy from me (I only deal in cash, in person). While I had his personal information, I could not do a good verify on this person where I felt comfortable meeting him in a public place. I've called police stations before to see if they could facilitate a transaction, but most shy away from "large cash transactions", so I've never actually went through with a deal at a PD..

I was going to pass up on the sale, until I was in my Chase branch on Tuesday. I am on a first name basis with the manager, and I am in their very often. Tuesday, he happened to have been helping me and I brought up bitcoins to him, and he knew all about them. I told him the issue I had about transactions for cash, and sometimes I didn't feel safe.

His response was "Do your transactions here!!" Later that day, the purchaser agreed to meet me at the branch, and here is how it worked out:

1. I showed up, signed in, and the manager asked me for the info of the other party.
   


2. I was escorted to a meeting room, and given the password to the guest wifi network.


3. I had my laptop on the desk, and had the QT software running.


4. I hear a knock on the door, and the manager introduced me to the buyer.


5. I counted out the money, and initiated the transaction.
   


6. He was already knowledgeable in BTC, so there was no talk about security, etc, but we chatted about fiat, and precious metals.


7. Verified the block chain, and the guy left.


8. The manager sends a teller into the room to count the money, they initiate the deposit, and I leave with a deposit slip.

This was the easiest and safest transaction I've ever completed, and for those of you that have wondered where a safe place to handle transactions like this, check out your bank! I walked in with a laptop, and left with a cash deposit receipt. While the risk of being robbed was still there, the chances of somebody going into a bank to do such a thing would be very low.. I felt 100% comfortable, and not only did I not have the risk associated with the meeting, but I did not have any risk associated with driving around with a huge amount of fiat.

I know the tinfoil hats will freak out because the bank knows what I'm doing, but I do not care. It's safe and legal :)

I also am building a good crypto currency bond with my branch manager :)

TL:dr, the evil banking system catered to my BTC transaction.

edit: had a couple messages. I am not getting out of crypto, I move that money right back into the market with coinbase. I pay a 1% commission to buy, and anywhere from 25-10% commission on the sale, so I work off that margin. This is more of a hobby than a job. I would rather meet a guy off the street who doesn't know anything about crypto who wants to buy $100 worth, and teach him how it works than meet a business guy in a bank for a large sale. But it's hard to pass up that commission.

Submitted December 26, 2013 at 02:14PM by eurostylin

Can we be a little nicer to newbies?

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We all started somewhere and the concept can often be difficult to grasp for newbies. Instead of saying use the search function and then downvote, provide a link or an explanation. Takes a little time but is quite helpful to them.

Newbies, read the sidebar and links, try to ask questions that you don't understand after reading.

Edit: feel free to ask any stupid questions

Submitted December 26, 2013 at 11:20AM by Nameisnotkevin

Bitcoin Paper Wallet with BIP0038 support - please vote on the issue so that it's merged into the main site

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https://github.com/cantonbecker/bitcoinpaperwallet/issues/3

Submitted December 25, 2013 at 06:54PM by artiomchi

Hong Kong's richest man, Li Ka-shing, invests in BitPay

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http://www.scmp.com/business/banking-finance/article/1390224/peripheral-bitcoin-services-bitpay-safer-investment-bitcoin

Submitted December 26, 2013 at 01:59PM by bbry267

Bits of coin (Christmas gift from my parents)

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http://i.imgur.com/qsPr9rh.jpg

Submitted December 26, 2013 at 10:37AM by S1ic3dBr3ad

New York Property Firm Offers Steep Discount For Bitcoin Payments

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http://www.coindesk.com/new-york-property-firm-steep-discount-bitcoin-payments/

Submitted December 25, 2013 at 12:18PM by waspoza

Is Anyone Else Concerned About Ghash.io?

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Looking at the graphs on blockchain.info, ghash.io has an estimated 37% of the hashing power for the past 24 hours. They have been growing rapidly, and were at less than 25% a month ago. If they continue to grow at this rate, it's highly possible they could control 51% of the network. They show no signs of stopping, and they've been known to use their power maliciously to double spend.

I know pessimistic posts are usually frowned upon in this subreddit, but I"m just wondering what can be done about this. Ghash.io poses a threat to bitcoin, and they can potentially destroy the whole decentralization of the currency, which is exactly what Bitcoin is about. Considering their bad history of double spends and other things, I'm a bit worried.

Is there any way to stop them, besides people attempting to mine for other small pools? Mining is out of the control for most people since decent ASICs are extremely expensive and mostly unprofitable. The proof of work algorithm used for Bitcoin is unlikely to change due to how difficult it would be to get everyone to adapt and for it to go smoothly. How can this be dealt with? I'm highly afraid for the future of Bitcoin.

Submitted December 26, 2013 at 03:05AM by skilliard4

Cruising through Beverly Hills when suddenly…

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http://i.imgur.com/zihKyoA.jpg

Submitted December 26, 2013 at 02:34AM by sometimes_correct

Christmas...

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http://i.imgur.com/ItAcUCY.jpg

Submitted December 25, 2013 at 09:43PM by ero79

This year I'm giving the gift of bitcoin to basically everyone I know...

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http://i.imgur.com/19m42vS.jpg

Submitted December 25, 2013 at 07:26PM by dxplq876

Today my girlfriends brother gave everyone paper wallets for gifts. It was embarrassing.

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Everyone got everyone else pretty nice gifts, bout 20-30$ each gift so nothing pricy. Then a certain brother decided to walk around handing everyone paper wallets...

It's seriously embarrassing, I was the only one in the room who was familiar with bitcoin and I wish I could have recorded the disaster as everyone got annoyed at him trying to explain bitcoin and how to redeem their money. Her uncle said it best "it's like he's walking around handing bibles".

I had warned people on this subreddit that wallets on their own is NOT a good gift and it's embarrassing but I never imagined I'd have to sit thru something like this.

Lets sum up something's:

1. 
   

   bitcoin is still a massive hassle to use, it's not easy to redeem the money and having to send my picture ID etc to an exchange to withdraw 20$ is not worth the time.

   
   


2. 
   

   It's a selfish gift to give when you're only thinking of yourself and pushing you're beliefs about crypto currencies. Seriously, no one wants to hear that shit. It's Christmas, give me my stupid tie and I'll be happy but don't lecture me on the future of money and try to hassle me into spending a long ass time just to learn how to get my 20$.

   
   


3. 
   

   Anyone else who did this is a huge douchebag, no seriously. You're just a dick.

   
   

Merry Christmas

Submitted December 25, 2013 at 11:10PM by Moh7

Given this morning's Christmas gifts, I think my wife has noticed my obsession.

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http://i.imgur.com/cM2J7ew.jpg

Submitted December 25, 2013 at 03:53PM by charlie702

A thank you to /u/mattmiller1973 - for 12 days, you went above and beyond what most of your peers do and actually tried to learn and understand your subject matter by asking questions and being involved. Thank you, and thanks to Bloomberg TV for airing the series.

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Submitted December 25, 2013 at 09:05PM by BrazenAmberite

For once in my life, buy MelB latest single with Bitcoin!

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http://www.melaniebrown.com/music/

Submitted December 25, 2013 at 09:04AM by goodbtc

Sean's Outpost on Bloomberg

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http://www.bloomberg.com/video/a-merry-bitcoin-christmas-doing-good-with-bitcoin-Q0owAGvlR2i2CbQXPfJ~rg.html

Submitted December 25, 2013 at 03:39PM by SeansOutpost

Arrested by the police for localbitcoins business

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Here's a little PSA: beware who you're dealing with on localbitcoins.com. Here's my story with a tldr.

In September and October, I sold 200 BTC (gradually) to some random guy on localbitcoins. Everything went fine, each time I got the money, I sent the bitcoins. 5 days after the last transaction, I get a phone call from my bank, they want to talk about the terms of my life insurance, "what's the most convenient time for me to go there", we plan a small meeting for the next day.

The next day I go to the bank, and 4 police officers are waiting for me! "Would you please follow us to the police station?" "Sure." I get a full body search, we go to the police station, and I get interrogated for 10 hours. "Where does this money come from?" I explain about bitcoins, localbitcoins, and the random guy, they take my phone to analyse my emails and check my story. Once they were sure that the guy contacted me and not the other way around, I was finally free to go, but all my bank accounts were frozen. Impossible to deposit or withdraw until the investigation is closed. Later they told me that the money that ended in my account was stolen and they thought I was doing money laundering.

Now after almost 3 months my bank accounts are still frozen, and after some back and forth the police is basically asking me to send back the money. I would gladly do that if the random guy would send me my bitcoins back, but of course that won't happen. If I send back the money, the innocent person who got his money stolen gets it back, but then I become the innocent person who got his money stolen, so that makes no sense to me. Anybody with a similar experience?

TLDR: I sold bitcoins on localbitcoins, the money was dirty, I got arrested and now the police wants me to give back the money.

Submitted December 25, 2013 at 09:59AM by throw_localbitcoins

Look what Santa delivered!

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http://imgur.com/YbWKsW9

Submitted December 25, 2013 at 03:25PM by Bitcoin-Canada