Linden Dollars, Bitcoins, and the brave new (taxable ...
Linden Dollar Definition - Investopedia
VirWox » Online Trading mit Linden Dollar
Lindens: No outside currency trading – Hypergrid Business
How to buy these cheap coins right now
Since we've all been goxxed now is the time to buy those $50-60 coins floating around and profit from everybody else's misery. Or you could wait for Gox to come back online and crash down the price even further but good luck trying to do any trading there to buy coins, the trading engine is already broken I don't expect the new one to work flawlessly due to epic 3yr history of GOXXING BTC-E.com To pay into this exchange, you need a BTC-E code, PM or Okpay. Take pics of your ID and utility bill and pay the $10 to Okpay for 'quick verification'. You can pay bitcoins directly into your Okpay account for initial funding or wait and see how long it takes for reg verification. Now either wire money, or instant money transfer (MoneyPolo, Contact-sys, Unistream) to fund your account or find an Okpay exchanger somewhere. Or Ukash/CashU. Just because contact-sys is Russian doesn't mean there aren't sending points in every country in the world. BTC-E codes you buy on #bitcoin-otc from verified gpg authenticated traders with good ratings, or on bitcointalk.org forums in the currency exchange forums. Perfect Money is a shady HYIP digital currency run by Russians much like Liberty Reserve. You sign up for free, and load your account with wires (if verified) or you use an exchanger. This is what talkgold.com is for to find legit exchangers. I use wm-center.com to wire WU/Moneygram and get PM. Click on 'Interkassa' payment method in BTC-E and select Perfect Money. Instant load. You can also obviously dump Litecoins you bought on Vircurex to fund the account, or a gagillion PPcoins Bitfloor.com Fastest way to deposit is through CapitalOne P2P or cash deposit https://bitfloor.com/docs/#funding-deposit Be aware Bitfloor is insolvent due to owing 25k bitcoins that were stolen last year but they have a repayment schedule that may or may not bankrupt them. Use at own risk but most ppl trade there everyday with no problems. Bitstamp.net Great exchange in Slovakia? I think. You have to pay with Euro SEPA wire, then for some stupid reason they convert the money to USD. You can pay in here using transferwise.com if you're from UK, or XEtrade and other Forex online money transfer companies. Google 'free money transfer fx' and review your options. Most don't charge you anything if over a certain amount of money. They take your internet billing or other local payment, convert to EUR and send SEPA for you if you request it. If they don't then check with Bitstamp what a SWIFT wire costs (probably nothing, I think they use Latvian banks that charge no receiving fees). If you want a bank account in Latvia then sign up here: http://www.rietumu.com/ if you have a local corporation or business where you live you can, maybe a personal account too. You can always incorporate a dirt cheap Delaware LLC or Oregon LLC from anywhere in the world and use it to open up worldwide bank accounts. Bitcoin-24.com Takes direct wires, all sorts of other methods: https://bitcoin-24.com/fees You can also use Liqpay if you have a USD or EUR card. Sign up to liqpay.com, then they block a small verification amount you have to sign into internet banking (for the card) to check. It's usually $1.something or less. After that you are verified to load $1-100 or so, but I'd just try $50 at first. Any more than that and Liqpay will seize the funds and ask for your bank to authorize a fax they send which no bank will do because of privacy reasons, so pointless to load anymore money. Liqpay may also call you to verify card details this is normal. Liqpay is meant for Russians and CIS countries to use like Ukraine so due to epic fraud of credit cards don't expect to load too much this way unless you find a Liqpay exchanger, but what's the point when you can just wire money to bitcoin-24 anyways. Vircurex.com Good exchange, had some problems due to DDoS but so did all exchanges. They only accept BTC, altcoins and VouchX for payment. You buy Vouchx here: https://www.aurumxchange.com/ or from somebody on Bitcointalk, or IRC (with rep). You can buy a bunch of litecoins anywhere to fund this exchange such as the bitcointalk forums or IRC. Warning: the so-called official twitter account is fake, don't use it. Cavirtex.com Can only fund if in Canada, they accept cash deposit and internet billing. Price has been steady at ~$90 all day though no panic selling. LibertyBit.com https://www.libertybit.com/funding various easy methods, new exchange in Canada that takes intl wires and shockingly Interac deposits (easily frauded). Bitcoin China https://btcchina.com/ fast growing exchange, you pay in with Alipay or Tenpay both Chinese methods that westerners can't use or figure out due to no translation. You can probably use Alipay if you find and exchanger to load it, they do exist. **Edit they now support Liberty Reserve deposit and withdrawal Check english forums to see if anybody exchanging Alipay or taking wires. CampBX.com Accepts money orders, and CapitalOne P2P payments. Also accepts Dwolla but you need to be verified. Bitcoin-central.net Just had a major outage due to instawallet hack, appears to be back online. You get your own quasi-bank account when you verify here much like how ecardone.com (liberty reserve) does banking so can transfer to other users legally with vouchers. You can buy a voucher p2p on Bitcointalk forums or IRC or send a bankwire. VirWoX.com You can pay with Paypal to get Second Life "Linden Dollars" then convert to BTC, or at least you used to be able to. I have no idea if this is still the case I've never used them. Or course there's all the fixed price exchangers https://en.bitcoin.it/wiki/Trade and https://bitcointalk.org/index.php?board=53.0 for everything from Moneypak to Skrill. You can also risk buying coins on Silk Road with moneypak ==============R U L E S ================================
Learn to use #bitcoin-otc, you'll thank me later. It has the most buying/sell options. Use localbitcoins.com too if you can to avoid bullshit exchange problems
ALWAYS USE 2-FACTOR ID ON EVERY EXCHANGE
Always use 2-factor ID on the email you used to sign up for the exchange
Don't click any links in BTC-E.com chat trollbox!!!
Don't click any links PM'd to you on BTC-E.com from other users
Enjoy buying all the way down the crash once Gox comes back online and the great sell off begins! Hold them for a year and they'll be worth 10x as much just like the 2011 crash. Bonus points if you speculate on Litecoin, rumor has it Gox will be trading them when they come back online but again, this is MtGox we are talking about so the site could implode on the zerg rush of people trying to get into their accounts or trading engine could sell all your coins for $0.0001 again like they did in 2011. Great successez!
In order to buy Bitcoin, casual investors want to avoid the complicated process of setting up an account with exchanges or going the mining route – two rather detailed and laborious processes. Thankfully PayPal offers a more convenient method to acquire digital currencies.
How to Buy Bitcoins with PayPal through eToro
Pros: Accepts a variety of payment methods, low fees Cons: Not available in the US eToro is a platform that allows users to buy bitcoins with PayPal and is considered to be one of the easiest methods to do so. Worthy of note is that eToro does not enable users to withdraw or transfer bitcoins to other users, rather it allows users to sell Bitcoin only for fiat currency. Users do not need a bitcoin wallet to use eToro as they do not store any coins.
How to Buy Bitcoin with PayPal through VirWox
Pros: A reliable method Cons: High fees VirWox (Virtual World Exchange) – It is a platform that allows trading of digital currencies such as Lindens, Bitcoins, etc. This exchange has more than 400,000 registered users and is an authorized reseller of Second Life Lindens (SLL). Here is a step-by-step guide taking you through VirWox:
Go to VirWox.com
Open an account – login to Virwox, register and fill personal details like username, email address, etc. Skip when asked for “avatar name” and enter all other necessary information and click “register”.
Activate an account – a confirmation email is sent to your account with a password. Login to Virwox with these credentials. It is advised to change the password before transferring money.
Deposit money through PayPal – to do this, ensure you have an account with PayPal and ‘understand terms of service’ allowed by PayPal for using SLLs to buy bitcoins. Deposit money into Virwox account via PayPal. Now you have a balance in your VirWox account to purchase coins with.
Go back to VirWox and buy SLL, and then buy bitcoins with your newly purchased SLL. Click “withdraw” to send your new bitcoins to your wallet. That’s it! Now you own Bitcoin!
VirWox charges fees for each transaction such as exchanging USD for SLL and then exchanging SLL for BTC. The fee structure of VirWox changes constantly so keep an eye on this every time you want to make a transaction. VirWox has been in the market for a long time and is currently the most reliable platform.
How to Buy Bitcoin with PayPal through Local Bitcoins
Pros: Various sellers from all around the world Cons: High fees, chances of scams Local Bitcoins is another marketplace where buyers and sellers meet. In this method, users can buy bitcoins with PayPal by finding a suitable seller with an excellent feedback score and large trade volume. Trading with new buyers involves higher risk, so sellers charge buyers high fees – keep that in mind!
Enter search parameters – go to Local Bitcoins and select your country and choose the amount to be purchased.
Choose a seller – a list of sellers is displayed by Local Bitcoins. Choose a seller who has a good feedback score. Each seller has trade limits which range from a minimum to a maximum amount of bitcoins required to trade.
Go to Payment window – buyer’s reputation increases per transaction and sellers prefer to sell bitcoins to buyers with a good reputation to avoid becoming a victim of fraud.
Complete the trade – after finding a suitable seller and entering the quantity of purchase, click “Send trade request” and your done!
How to Buy Bitcoin Using PayPal through Wirex
Pros: Normal fees Cons: Withdrawing funds takes more than a week Wirex is a leading company that provides virtual and physical bitcoin debit cards (which is just like a normal debit card). Users can use Wirex’s card to buy bitcoins with PayPal.
Request for a new physical/ virtual debit card from Wirex – login to Wirex and click on “request new card” and choose the card type. Users can use both physical and virtual cards to buy bitcoins via PayPal.
Link debit card details to PayPal account:
In PayPal account, go to “wallet”, select “add a card” to add your virtual bitcoin card. A minimum of $3 is required in PayPal account to verify this card.
A 4-digit code is generated, which is the verification pin for Wirex cards on PayPal.
Go to “wallet” and click “Withdraw funds” and choose “withdraw funds to your card” option.
Withdrawal would take up to 7 days to appear in Wirex account.
Buy bitcoins with Wirex debit card.
How to Buy Bitcoins Using PayPal through Paxful
Pros: Wide range of sellers from all over the world Cons: Chances of scam, high exchange rate Paxful is the latest version of Local Bitcoins. It is a decentralized peer to peer marketplace and allows users to buy bitcoins with Skype credits, Amazon gift cards, etc. In Paxful, a seller sends bitcoins, buyer purchases and sends dollars to escrow. Once the trading is completed, funds are released to each party. The process to buy bitcoins through Paxful is:
Create an account
To buy, select payment method by entering the desired amount
To sell bitcoins, select “seller manually” or allow Paxful to decide who the best seller is.
Why don't we build buying and selling Dogecoin into the Core/Wallet?
The idea would be very similar to this: http://www.reddit.com/Bitcoin/comments/236k5d/mycelium_local_trader_is_now_available/ Essentially adding peer-to-peer trading to the Dogecoin Core. MultiDoge and WowDoge wallets could provide the same service if the coding magically existed. You could do it exactly like sites currently: You make an account with the wallet that is tied to your phone number. Therefore any wallet addresses are now tied to your account and your phone. Someone asking for a chargeback can be refused since we can see that the funds were sent to an address belonging to you! I would take it a step further and organize buy/sell orders by type of payment. Very similar to here. We could include a BTC/DOGE exchange as well with a built in escrow service. Is this possible? Websites that currently sell Dogecoin for BTC or Fiat (USD...) could be listed within the buy/sell section as well! Would there be a way to fund the wallet with Fiat with a credit card? a la PayPal? Ideal scenario:
1. Download Dogecoin Wallet
2. Fund wallet with USD(let's say $30 for this example) with credit card to any amount of my choosing.
3. Look for people/sites/exchanges selling Dogecoin within the wallet
4. Buy Dogecoin from person selling Dogecoin, held in escrow, and instantly transferred to me after my payment.
5. Minimal fees
This idea falls apart if funding the wallet is completely not possible. Would just storing USD funds in a Dogecoin wallet count as purchasing virtual currency? Is there a work around where I can buy Linden Dollars then trade to Dogecoin? haha. Click here if you have no idea what I am talking about. I think that a buy/sell option in the wallet would make buying and selling easier and potentially more attractive for new and current users.
Say, what are the most straightforward ways to Sell BTC and get USD or other currencies?
I figure adoption for Bitcoin will move a lot faster when it's easy to cash out. You know, safer to enter a building once you know where all the exits are, and all that. :3 The simplest method I know presently is The Rock Trading -> Linden Dollars -> Paypal, which I have tested. I do have bank accounts and debit cards, but I don't know anything about what ACH or International Wire are. I don't know their timeframes or fees, and I assume that entering bank account numbers and routing numbers into not-so-well-known sites would be a pretty big risk. Has anyone made up a grid displaying "round trip fees" from different currencies to and then from BTC, showing expected % loss, time delay and potential anonymity compromise and inconveniences (frictions) at each step? If not, does anyone know some good sources for such data, and I could help to compile such a list? :O I think that would be a goldmine for anyone shopping around for BTC liquidity options. For example, round trip USD through the rock involves:
trusting a third party during the duration of the BTC transaction
no disclosure of sensitive personal information
The potential inconvenience of using a Secondlife Viewer client and visiting an ATM in-world .. all of which is simple for me, beats hell out of going to 7-11, and exposes minimal identity information to untrusted third party.
USD->BTC = virtually no time delays, maybe an hour of effort if you're already comfortable using SL viewer. BTC->LL = 2 hours to 1 day and LL->Paypal USD = ~2 business days.
I didn't collect fee/loss information the last time I tested this round trip, but I'll likely do so again soon.
Thanks in advance for sharing your data and perspectives! :D UPDATE: Trying to run a few tests on Paypal USD->LL->BTC->LL->Paypal USD at present. Results thus far:
$10usd -> L$2405 took 2 minutes on Secondlife's website.
The Rock has apparently started using the Linden Labs Risk API since last time I deposited Lindens through them, so now they refuse to take mah Lindens. ;P
Trying Virwox instead. Apparently they can't handle fractional BTC? changed L$ 1,377.96 to 1.02 BTC on account with them in 10 minutes.
Waiting for manual confirmation on BTC withdraw presently. They say that could take up to 48 hours. :P
For anyone with a SecondLife account and wants to use paypal to buy BTC
I have been using [virwox](www.virwox.com) to (essentially) buy bitcoins with Paypal. You deposit your USD with paypal or credit card or other method, then buy the Lindens (second life dollars). Then you can buy bitcoins with the lindens (SLL). This especially nice if you happen to have an old SL account with SLL just sitting there. And for anyone interested I have vouchers from virwox, if used when signing up gives us both 50 SLL (about $.20). They do have multiple fees and commissions though (Paypal, trading, withdrawing). Edit: You don't need a Second Life account to buy SLL or bitcoins. But you can bypass their max deposit limit by buying lindens elsewhere and transferring to virwox.
Doge Puppies Like Me: Come hear my tail, such learning, much waiting, yet such sweet Wow.
NOTE: This is a summary of my experience with DOGE buying. I am new to the internet world, very luddite, but hope to learn more. I am sharing my experiences for any others out here like me, who may be just starting out. I am a stay at home mom who browses imgur while nursing, long story short, I stumbled on to the news article about the Jamaican Bobsledders. Then I started my research and last week I jumped on the Dogetrain, all starry eyed and bushy tailed. I bought my first bitcoin on Virwox using my paypal account. It caps you at $104 USD. You then have to trade your Bitcoin for Linden dollars. Linden is currency from the Second Life, an Avatar game. After you make your linden trade, you can then trade your Linden for BTC. I ended up with around .111BTC, which isn't so great for $104 USD. I next signed up for an account at Coinbase. At Coinbase I had to enter bank account information, and then I bought BTC. The great thing about Coinbase is that they lock in the market price when you place your order. Even though I haven't actually received my BTC for 4 days (still waiting) I was able to buy it at the low of $781 per BTC. I bought .3 BTC for the price of $237. The next thing I did was pretty silly. I withdrew my BTC from Wirvox (paying .002 BTC withdraw fee) and transferred it into Coinbase. It took two (2) days for this transfer to take place. Once my BTC finally arrived at Coinbase, I realized I wanted to trade them for DOGE. Coinbase is ONLY for buying and selling Bitcoin. So, I had to transfer my BTC from Coinbase and into Cryptsy. Everytime you make a withdraw from one of these markets, you end up incurring some small fee. But if you are going around needlessly transferring BTC like I was, those fees add up. The transfer from Coinbase to Cryptsy took about a minute. Once at Cryptsy I traded my .111 BTC for around 65,000 DOGE. Next I transferred the DOGE into my Dogewallet that I had downloaded onto my desktop. This transfer took 24 Hrs. It kept saying, "pending" I issued a Cryptsy ticket asking what the hold up was and they responded promptly and fixed the problem by the following day. I am still waiting for my .3 BTC I bought from Coinbase to stop pending, once it does I will transfer it into Cryptsy and again buy more DOGE. I downloaded Dogecoin QT wallet for my desktop and transferred my Doge, this took around 12 hrs. The whole time I was stressing not sure what exactly I had downloaded onto my computer (a bug, a bomb?) But I googled and found out from reddit that this is a common issue with Dogecoin QT. I have also bought 10,000 DOGE on Ebay for $20,000 from a very kind member of the Shibe community who showed me how to find my wallet address, transferred an initial 1 DOGE to make sure it worked, and then welcomed me kindly and gave me an extra 1000. I also signed up for Doge Vault, and I have tested sending DOGE back and forth between my desktop wallet and the online wallet. The online wallet is faster in my opinion. TL;DR: Newbie's experience with DOGE, learn from my mistakes. Community Overlords of DOGE: this might give you an idea of what your average computer idiot goes through when they are starting out.
Using VirWoX to get started with some coin (my experience)...
A couple of weeks ago I decided to take the plunge and try and get comfortable with Bitcoin. I read a few sites, a short book even, downloaded and played around with a couple of wallets, and found myself in kind of a catch twenty-two. To get the hang of Bitcoin, I'd really need some currency to mess around with. To acquire said coin though, I'd ideally already be conversant with using it. I mean, there's a lot to get your head round initially, and I didn't want to get scammed on my first transaction. So, what are your options? Well, there's asking nicely. Not a sure thing though, and maybe not really meant for me? I'm not broke, exactly. Just sort of insolvent. Then there's serfing the web. I won't link to it because I'm not cool with it, but I found a few sites that would throw you a couple of Satoshi for viewing awful adverts over several hours (depressing), or solving captchas (potentially ID theft enabling). Yeah, not for me. Any other options? Well, there's VirWox, this site that lets you buy Linden Dollars (the currency of Second Life) with PayPal, exchange Linden Dollars for Bitcoin, and transfer Bitcoin to a wallet you've got set up elsewhere... Okay, one thing, this is not anonymous. You're potentially associating your Bitcoin transactions with your RL personal details by putting PayPal in the mix. For me, at this stage, that isn't important; but perhaps it is to you. So anyway, I made an account, PayPal'd ten dollars in, and exchanged what was left of that after the PayPal fee had been deducted for 2,060.47 Linden fun bux. Cool. There's a commission involved in that though, about $0.40 on my now nine dollars something. Oh well, on to Bitcoin. Two thousand Linden Dollars is apparently not enough to make the minimum trade for Bitcoin. Sigh, fine, back to PayPal. Another ten dollars in, and my four G in Linden stuff becomes... Okay! I've got ฿0.034 in my pocket. Well, almost. It turns out new customers have to wait up to 48 hours to get that last step verified. Worked though. Thirty something hours later, the balance showed up in my phone wallet. Would I use VirWoX again? I don't think I would. I expect things would be a little quicker second time round, but those charges really add up. Would I recommend VirWorX to someone in the same boat I was in, looking to acquire a little currency safely and willing to pay a premium to do so? Yeah, actually, I think so. It was slow and expensive, and worryingly, the site was down for a couple of hours at one point, but ultimately it worked. Not a bad place to start, in my opinion.
In business since end of 2007, VirWoX is today a leading independent exchange for trading virtual currencies, both in terms number of users (about 800,000), and trading volume (2012: 29 million Euro / 38 million US$). Currencies traded are Linden Dollars (the virtual currency used in Second Life), Avination's C$, and the Open Metaverse Currency (OMC). Linden Lab reports that the Second Life economy generated US$3,596,674 in economic activity during the month of September 2005, and as of September 2006 Second Life was reported to have a GDP of $64 Million. In 2009 the total size of the Second Life economy grew 65% to US$567 million, about 25% of the entire U.S. virtual goods market. Gross Resident Earnings are $55 million US Dollars in 2009 ... VirWoX operated for more than 12 years, first as a place to buy and sell Linden Dollars for Second Life, and since April 2011 our users also traded Bitcoin. That made VirWoX the world's oldest Bitcoin exchange after MtGox closed in 2014. We wish to thank our more than a million customers for their loyalty in all these years. Enquiries can still be sent to [email protected] If you came here ... Linden Dollars, Bitcoins, and the brave new (taxable) assets March 26, 2014 / Admin / Northwest Tax Lawyer, Uncategorized / No Comments. It is a truism in the world of tax planning that dollars are fungible. That is, if I have two dollars in my wallet, there isn’t much between the dollar that I took out of the bank yesterday and a dollar that I took out of the bank today. If I use them to ... Kurzanleitung: Bitcoin bei VirWoX mit Sofortüberweisung kaufen. Konto bei VirWoX erstellen* Einzahlung per Sofortüberweisung: Gebe deine Bankverbindung an und zahle Euro bei VirWoX ein; SLL einkaufen: Kaufe nun Second Life Linden-Dollars mit deinen eingezahlten Euro
TO RECEIVE THE LINK TO DOWNLOAD THE SOFTWARE INSTANTLY IN YOUR MAIL SEND MAIL AT [email protected] and JUST DONATE 5 BTC TO 1FDoLBQU4LKG19X313JR3VL... Ever thought of how much you could make from trading on forex market but you're scared of losing your investment if you try it? Worry no more. Learn how you can try forex trading for free with ... Just imagine having a shop that sells REAL items that allows people to try on that pair of trainers or designer top that they want, and then paying you in Linden Dollars for the item the you can ... The first concept of stable coins was introduced in Second Life in 2003, it was called Linden Dollars. It is currently a $600 to $700 million economy. The current conversion rate is 265 Linden ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Queue