Holiday Bitcoin – $100 for Charity Update (Part 2)

Holiday Bitcoin – $100 for Charity Update (Part 2)

Holiday Bitcoin – $100 for Charity Update (Part 2)

So this bitcoin thing is more complicated than I thought!

Our $150 was worth $175 the other day. At the time of writing this, it is worth $155. Fluctuations, Fluctuations, and more uncertainty. We will cash out in the beginning of the New year and donate it to a local charity to complete our short test. But how did we get here?

So, the site (https://www.coinbase.com/dashboard) that I wanted to get Bitcoin from has been “busy” or a week. Every day I tried at least twice and to no avail. Either my timing is off, or their servers are overloaded. Here is what I have been getting:

coinbase

The one time I did get through it didn’t take my Student ID because it appeared not “valid” enough. I suggested in the previous post to not use a government issued ID. Looks like you have to when purchasing Bitcoin.

So during the week of 12/13, the week after I started this and having no luck, I ended up purchasing $100 worth of bitcoin from another site: https://www.bitcoin.com/. There is a $12 fee going through this site, but the Bitcoin did show up in my Bitcoin Wallet a few hours after purchase.

I’ll explain the Bitcoin Wallet and more updates in the next blog post.

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One Response to Holiday Bitcoin – $100 for Charity Update (Part 2)
  • Paulin Curlay

    For one thing, Bitcoins are not all that secure. The transactions are public and can be tracked. Sure, buy Bitcoins with cash locally, that helps with security. But it only *helps* with security. The transactions are still public, and you had to transact with *someone.* That someone can be subpoenaed. Or roll over on you to reduce a sentence.

    Any online traffic, even through the dark web, goes through your local ISP and a number of central processing hubs operated by the Big Boys. Who have siphons which dump every byte to the National Security Agency, who keeps it forever, apparently. Sure, it’s encrypted. But encryption has an expiration date. It’s hard to predict when it will be broken, but if quantum computing ever hits its stride, NSA will be unlocking vast treasure troves of old communications for a looksee. So will you be dead before they bust your comms? Do you feel lucky?

    Then there are honeypots – web sites set up or taken over by law enforcement specifically to entice you into purchasing something illegal. You use Bitcoins, they go looking for the public transaction records, find the guy who sold you the Bitcoins, and go from there. It may take some time for them to connect the dots. Maybe they’ll decide to ignore you and spend time on lower hanging fruit. But the risk can’t be reduced to zero.

    The only truly safe method of obtaining illegal drugs is to eliminate the illegality.
    That’s uphill slogging, what with so many Americans being easy to convince to embrace fascism.

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