Bit coin introduction to circle/ and disscussion
So the purpose of this forum is to learn about bit coin myself included, open up bit coin discussions , a place to go to ask for help , and to introduce you to circle. Now from personal experience I have used coinbase successfully and it has its pros and cons. It is not a bad bitcoin service except for it takes about 5 or so days to buy a bitcoin and a bank account must be linked.I do not have a credit card myself but there is a way to set up instant buy. In my experience my preferred bitcoin service is circle its quick (virtually instant) and a bitcoin can be purchased with a debt card. Here is an introduction to circle -With Circle, purchasing bitcoin is not necessary to use it. Allow me to explain:
All new customers begin with their account balance denominated in USD. Holding USD allows you to send funds to any bitcoin address as though it were bitcoin without your funds being subjected to the fluctuating price of bitcoin.
You can switch your account balance to BTC at anytime in the currency tab of your account setting, so long as you don't have any pending transactions. Keep in mind that holding BTC will subject your balance to the price volatility of bitcoin.
Either way, your account is all set up to linking a funding source and begin adding money to your account. Please let me know if you have any other questions.
Also you are at first limited in the amount you can buy this will increase over time and is reviewed on a rolling 7 day basis. To speed up the increase go under settings , account limits, there you will be able to request an increase.
Well I hope this helps member's, anything you have to add about coinbase mycellium coinkite or any other feel free to share. Also want to add this does have mod approval but lets use common sense here and not mess it up haha.. but all bitcoin talk is welcome
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dalaccguys I have a question, does circle supports only US bank accounts? it writes that they support only US bank accounts
I got an email from circle that said they were taking off the limit caps. So no limit on what you can send . This is perfect now .
musseldawg69Hell yea bro bout as good as it gets its on now ! Thanks for the update
Bro this is an awesome forum. Very informative . This is how you taught me to use but coin and it's all I want to use now. Circle pay is awesome. Once my limit increases it will be perfect
musseldawg69No problem brother im still waiting on that myself, I always have coinbase if I need to in the mean time, me and u have spent some time trying to master this thing lol you should be able to pass the knowledge on from time to time. It is pretty awesome once I went bitcoin I never looked back and apps like circle make it way easier than back in the day
Hahaha yea and I still don't know how to use Coinbase . Yea for sure I've already told a few people how to use it and they love it
Great forum pal! Much appreciated!
musseldawg69np Nova if you get hung up feel free to pm me this will save you some headaches haha
Is it the "circle pay" app ??
musseldawg69Yessir I just double checked thats the one right there on android if u search circle on google play its the second one down says "circle pay"
So before sending funds to final destination do you have to switch the currency to BTC?
musseldawg69Not with circle just send the amount in usd and it will arrive in bitcoin form on the other end.
Whats up,dawg?..i was in the preferred app that is being discussed here and uploaded from my acct. When i was at checkout i clicked pay by using your wallet..then i chose the "preffered app " (also known as a shape) and it automatically brought me to the send option and showed what was due in usd,along with order number and the number it equals too after conversion (example: .4456789etc) and i hit,send...so i REALLLLLY hope what your saying is correct....since i did not,change the,currency or buy them.the only thing that worries me is that its been an hr and still,dont have confirmation of payment,from here. And acct still reads what balance was so tried,to,send again but it said i only have such and such amount left to send,for the week..Where did it go?
This was my next question. But, what if you do convert from usd and send via btc?
Anonplease do not mention any other method of pay , Bitcoin only fellas, not even abbreviation... Thank you
Give them a vote if you find it helpful.PermalinkbigmurphSorry about that
bigmurphIm still old school using Censored but I have downloaded the circle app set it up but I don't want to connect it to my bank how can I buy btc without having any connection to my bank or cards
Any ideas?
musseldawg69If you know someone locally you can give them cash, sometimes my buddies will by bit coin off me, ill send it to there wallet.I believe you can buy bitcoins locally with local bit coins as well with cash or payment of ur choice - https://localbitcoins.com/ I've never used it though so maybe someone who has might be able to give feedback here
bigmurphOkay so I have alot of people around me to get btc from but I have to get 1 btc on circle can I change that btc i get into regular holding or do I have to keep it as a btc.
Does anyone know
musseldawg69Its explained above but you dont necessary have to store it in there you can send it right away or deposit it and you can also buy .01 bitcoin etc do basically you can purchase any amount (in usd ) with circle you want, if you deposit money its cash unless you change it to btc under your settings but then it can fluctuate. Once you go bitcoin you never go back lol I used to use similar payment methods then the rules changed with it, this is way more convenient I think
I almost did, but they were too high...some were okay, but i didnt want to use Censored to send...i like going to make the deposits at the bank...i love how buying btc and that it is perfectly legal...first time i went in to a bank.i told them i needed to buy some btc...lol...they were lost...i soon found out that mentioning btc in a bank is not something to do...lol
musseldawg69Lol im going to try that go to my bank and ask for a btc, circle is a easy to use app I think the only downside is the limit of $300 at first, my coinbase limit was way more right off the bat I can't remember but its 10k but coinbase takes days to approve a purchase
When does the limit raise?
musseldawg69Im still waiting on mine cause I put in a request this past week ive only made small purchases so far and just recently decided I might need more.. ill keep you posted I heard one member say a month but not entirely sure, my limit on coinbase is 10k so even though its slow and not as intuitive in a pinch I would also reccomend it until your limit increases , you are welcome to fr me as well
musseldawg69Also I should add there is under settings in circle a tab that says help from there you can send a message to support which they respond to your email so keep an eye out for it
FR sent
bigmurphBecause I live in the city there are btc atm I can actually go to the atm and buy btc to have sent to my account there is a fee but its less than Censored
bigmurphAppreciated im going to check it out thanks
Good post. I am going to PM you...FR sent.
musseldawg69Accepted bro no problem
I have used Bitquick twice. They will be back up in a couple weeks....they were fast and all i had to do was choose the bank that i wanted to make the deposit too...btc is awesome...
musseldawg69I personally dont use a mixer I do have a mycellium account because of anonymous, tbh I dont always use it, im not really worried ive used bitcoin for transactions, and its quick , its easy, I dont have to leave my house, and guys dont overthink it to much its really simple . Start small take your time and I bet you will like it better to
there is one important addition here. some bitcoin wallets share the ip address used. if you send bitcoins from your circle wallet to another one, it can be a temporary wallet on the blockchain.info site, so you need to use a different ip address there. first run vpn and only after this sign in there with fake ip. jsut in case. it will significantly increse yoru safety. also it is better not to send bitcoins from the second wallet to the final destination wallet immediately, but to wait a couple of hours at least. or one can use so called mixers, but they have fees and you need to fully trust them.
musseldawg69Yes thank you for sharing heres some explanation of mixers for those trying to enhance privacy - Mixing You can further enhance your privacy by using a mixing service. You can use this when you send a payment to somebody, when you are sending coins to your wallet from the site you bought them on, or you can even send money to another address you own through a mixing service in order to ‘launder’ it. This works by simply mixing up your coins with a large number of other coins from other sources before sending them out the other side. By doing this, it becomes difficult or impossible for an observer to link specific payments into the mixing service with specific payments coming out of the mixing service. One popular and reasonably priced mixing service is offered by CoinMixer.se, but there are also many others about so if you like to shop around then a bit of Googling may be in order – just be careful to check for review though, because there are a couple of scam sites out there which claim to be mixers but actually steal your coins
Read more at: http://cryptorials.io/how-to-use-bitcoin-anonymously/
Also for those who are worried about their personal info that is linked to your circle account; all you have to do is send the money/bitcoin to another account like mycellium. So you have two accounts. One circle and one mycellium. From the mycellium account, you can route the money/bitcoin to the desired final destination/bitcoin address. This way you wont have to worry about circle being connected to your personal info, because your circle account is being transferred to your mycellium account. And mycellium account doesn't require personal bank info.
It is important to remember that all Bitcoin transactions are public. Addresses are only as anonymous as you make them.
Begin paranoid rant:
I don't really feel safe with a one-hop through Mycelium. It seems that if someone "busted" the final destination and gained their address they could:
In other words, since the transaction that spends from circle to Mycelium is public, there is a pretty easy link between those addresses - unless you use a mixer.
Also the Mycelium app is making network requests. What if the people running that service get a subpoea? How much do you trust that the request does not contain information unique to your phone? (Even if you did turn on tor in Mycelium, which is not on by default.)
Better use ToR to create a web wallet (like blockchain.info) and use a mixer. Or if you are advanced and / or care about blockchain.info getting hacked, use a paper wallet and a mixer. When you are ready to spend you can sweep the paper wallet into a web wallet, or if you're nerdy and don't mind a PITA, use a raw transaction.
Of course you are using the mixer over ToR and trusting that they do not keep logs.
There was once a great related story on eroids that managed to work in the phrase "Your own furry starfish" - definitely worth a search.
musseldawg69Haha Yeah I could do this but im not to worried, there's an easy link between them maybe but is there an easy way to prove what its for or that its a source lol just sayin thousands of thousands transactions everyday to look at. There's some risk with everything, some good info tho bro appreciate it
bigmurphSee the beginning of the post i understand but once you get to better use tor
I don't understand the language or what any of that is this is my problem. I even went to the young guys I work with that are good with computers i mentioned btc and they didn't even know what I was talking about. I thought everyone atleast knew what btc was none of them could help me.
If you would like to pm me and give me a lesson I would be in debt to you brother.
I will definitely search that phrase.
I just read the furry starfish and it even says that in the usa btc is not reasonable because of the market change. This is what has always worried me if I use a certain amount then it comes back lower it would have just been better to use and pay the fee that the other companies charge. Im so torn on this subject
Volatility is a risk to be sure.
A payee might give the instruction, "an amount of BTC that equals $500 at the time it is paid."
With that you accept the exchange rate risk between the time you convert to BTC and the time you actually pay.
http://www.coindesk.com/price
+/- 8% over the past 3 months but much more stable the past 1 month. If you are concerned you can keep that holding interval to hours. Not to minimize, though - go back farther and you see some quick drops.
Also liquidity risk: "I funded, the price moved, now it's not enough." To avoid that you can fund with - say - 120% of what you need.
When you pay you send the change to a change address (it could be the same as the one you are paying from). Then you send that change back through a mixer (costs about 0.5% of your 20% change) to an exchange that will let you put it back into your bank account. Or you buy a gift card, but presumably that is going to be mailed to your home address, so you still use a mixer.
Simplest is to just hold onto the change for next time. It's only change, so you have reduced the value at risk.
So, yep, there are some financial risks involved. Negligible compared to the health and sometimes legal risks of anabolics.
FR sent if you have specific questions. If I ever get organized I may have my own try at "complete guide."
The author is long BTC.
bigmurphThanks for the input brother
Yep. When this happens the price of BTC moves up, right? This was a situation that happened to me when I waited 2 days to.complete the order and i didnt take the current market value of BTC into consideration, and didnt update my product order, which caused a change in amount of required BTC.
FR sent
Cool.
I would put it as, "[Getting caught short] happens when the price of BTC [in the currency of the marked price] moves down." But the point is the same - it's good to leave some wiggle room.
Thank you, sir. I notice btc increased from yesterday, to today...418.65 to 421.80...i factored in a 100 usd spend and it gave me less btc to spend today, than in comparison to yesterday...i see the difference..as well as the wiggle room needed...
Oh - I see the difference.
If you are holding your balance in USD, then it amounts to less BTC when the price goes up.
If you are holding your balance in BTC then it will be the same BTC (duh) - or more USD.
If you are holding in BTC it amounts to more USD-priced product when the price of BTC goes up.
As I mentioned earlier, in the amounts that I manage to spend it, I myself prefer to hold BTC.
Off topic - the Bitcoin supply is limited to 21 million. Unlike USD - more and more circulating at a rate that some consider scary. This puts some natural upward pressure in the long term USD/BTC.
musseldawg69All I do is send it to an anonymous account like mycellium if that (just sayin for me) , its simple though with circle you dont worry about the market change cause you can send usd to there wallet(or a wallet) so basically you send the amount in usd to there wallet it arrives in the form of bitcoin so no variance needed your not subject to fluctuation
This is a good point...
musseldawg69Yep that is true mycellium is very handy for this the only downside is I do believe there is a small mining fee
Gotta admit I've still been very hesitant to mess with Bitcoin. Just seems like its such a pain. Plus I don't like the volatility of the btc market. I've started looking into circle over the past week and it does look like it's going to be a lot easier to deal with. To me the fact you can keep your currency in USD is a huge plus!
I like circle a lot.. my last order I used it and I can't believe how simple it was.
musseldawg69Yes exactly and no fees basically you take the address you want to send it to input it then put in an amount usd and send cash straight to there address and it arrives in bitcoin form. you can store money on there but you dont necessarily have to just send it straight to em