Me want buy BitCoin

Here's a short video of me trying to use Cash App to buy BitCoin.  I did all the security hoop-jumping for the app and everything was vetted, but I couldn't even add money from my linked debit card to Cash App let alone then buy the BitCoin.  There has to be an easier way to do it.

Most of the times I've seen someone trying to buy cryptocurrency who had no obvious proclivity that might explain the behavior and kept my mouth shut it turned into, or was a side-effect of, a disaster for that person, so I'm going to ask now: why are you buying Bitcoin?

To give someone less than $200 worth of Bitcoin.

Apis Mellifera said:

Here's a short video of me trying to use Cash App to buy BitCoin. 

Yeah, I watched the video.  I thought your technique looked about right.  Not sure why it wouldn't work.  Take it as a sign, maybe?

Edit:  I do enjoy references to 2001: A Space Odyssey.

GameboyRMH said:

....why are you buying Bitcoin?

For a drug dealer?   They certainly should prefer it to cash... no laundering issues...

(I was wondering why I noticed Bitcoin machines in random gas stations, I suspect this is why)

In reply to aircooled :

Those are mainly for paying ransoms and the occasional darknet order rather than ordinary local drug dealers, BTC in particular does have to be laundered because all transactions between wallets are public, but there are other cryptocurrencies that don't. One good way to launder BTC is to pass it through one of those anonymous cryptocurrencies.

I can't imagine a drug dealer having the patience to setup whatever is needed to invest in this nonsense. 

For the record, I tried Coinbase also.  Their app AI couldn't read my state ID.  I know the younger generation considers people like me to be obsolete, but there has to be some overlap of those that dabble in stocks and those that dabble in crypto.  Maybe my generation isn't supposed to learn this stuff by design.  I guess Coinbase can keep their "free" $200 worth of Bitcoin. 

Re-reading their teaser, it's "up to $200 in Bitcoin".  I never got far enough to find out what my time was actually worth.

I'm not sure I'd want to do business with someone who insists on payment in Bitcoin or other cryptocurrency...   

In reply to Ian F (Forum Supporter) :

It isn't exactly that.  I wanted to buy a small amount of Bitcoin, figure it out, and see what happens.  Later I'd give it to one of my kids (all <15yo), none of which knows anything about it, assuming there's anything left.  After the CashApp fiasco, I found Coinbase which offered $200 worth "free".   Seemed like a cheap experiment.

I would think that if this is as scammish as it seems to me, then it would be made easy for rubes like me to invest, thus easy pickings for crooks and apparently drug dealers.  I tried really hard to be fleeced, but I guess I should take it as a sign and stick with my powdered wig and whale oil investments.  I do like learning and trying to stay relevant though.

Makes me even more skeptical these will ever find an everyday usage case for the average person.

me know that not real money!

In reply to AngryCorvair (Forum Supporter) :

Define "real money".

A fiat currency with no value that can be pulled from thin air by a private company that has never been audited, then is loaned to governments at interest so it can never be paid off? 

Or something with a hard distribution limit, a value defined mostly by users, created through mathematics? 

Short of crazy spikes, the time to consider Bitcoin an investment was a decade ago when they were under $100/coin. At this point, it should be considered more of a hedge, like solid metals. 

As for buying it in this day and age, setup a wallet and go find one of the ATMs is probably the easy button. Robinhood recently started allowing purchase but not sale, and I think they make you keep it in their wallet, but I haven't looked to hard at that aspect. 

In reply to RevRico :

Gemini is one of the few domestic exchanges with a Bitlicense. It's not tough to set an account up with them.

Bitcoin people are the same ilk as vegans and Crossfit acolytes. 

I did coinbase a while back and it was stupidly simple.  Admittedly i haven't watched your vid, but I cant imagine it being a PEBKAC or ID-10-t error.

I made a couple grand off of one of the E36 M3coins that was being tossed around at the time.

Well, it could be user error (see video), but if you google "identification loop" there are many threads on Reddit about it concerning these apps.  In the end, I managed to escape and get Cash App to work.  I now have $1 in Bitcoin... checking... make that $0.97 in Bitcoin.  The actual buying was less convoluted than setting up the app and I was able to use Bitcoin to both make a ransom payment and buy drugs, so I guess I am now worthwhile to young people, or S Tier*, according to my kids.

*ranking not official

ddavidv said:

Bitcoin people are the same ilk as vegans and Crossfit acolytes. 

and Atheists.

ibtl for my own flounder

Decided against taking the bait.