/biz/ - Business & Finance

>>11181805
Belgian here.

MtGox and BTC-E where the most popular.

Signing up was pretty simple, cashing out happened through a differen service like anycoindirect.eu

Same as now, some people kept it on exchanges, some people kept it on their pc

>>11181805
Ah, btc-e and its trollbox...good times

>>11181805
there was no kyc bullshit like there is today

>>11181805
oldfag reporting in. yes people mostly used the bitcoin core hot wallet back then, i know i did. there werent that many hardware wallets out yet, and seed words werent really that much of a thing back then, though starting to become more common. electrum was also used as a common desktop wallet. mycelium was THE android wallet to use for bitcoin at the time. as for echanges, there was bitfinex, bitstamp, btcE. it was still complicated to sign up. they at least wanted to know your name address and phone number, and soon required ID verification. I remmeber grinding for coin on bitcoinget.com or doing small jobs on jobs4bitcoins subreddit, or playing chopcoin.io to earn.

>>11181920

There was. You needed to submit a picture of a valid ID, driver's license, or etc, proof of residence, so something like an electricity bill, some kind of valid insurance document that was no more than 3 months old, and all your addresses and shit to get fucked on magic the gathering exchange.

Once they had everything, they would take forever to actually open your account, and they'd randomly ask for more/new stuff.

>>11181805
Not in UK, but
I bought on localbitcoins
no verification required that i can remember, just created an account.
the guy who sold it to me met me in a cafe and send it to me from his phone. i brought my laptop and waited for the tx to confirm on my wallet (electrum). i then paid him in cash.

as we were waiting he told me how he had invested maybe $1k and was now up to about $50K. i was jealous af, and also fucking excited about the possibility of getting super rich super fast. the market then proceeded to crash within 2 weeks and didn't recover for years.

by the way, from that initial $500 investment, my portfolio is now worth about $100k, and i've cashed out about $20k.

It's also worth noting that 92% of all buttcoins in circulation touched Mark "Magikarp" Didnuthingwrong's exchange, and they were infamous for their unexplained account holds, account closures, withdrawal limits that had little to do with reality, refusal to allow even bitcoin withdrawal, and arbitrary nonsense decisions, like not accepting any forms of ID not written in basic bitch english.

Basically, people should have learned that giving all the money to one greedy motherfucker and his magical internet money monopoly company was a really terrible idea, as cashing out came down to the whims of Mark, and whether or not he was physically at the office that day. Mark is also on the run from France's police to this day.

Here is a time capsule so you understand how magic the gathering online exchange worked, and the power they wielded at the time.

https://bitcointalk.org/index.php?topic=86224.0

Also picture of the chosen one.

>>11181990
Nah. You’re an idiot.

Uk here.

Used localbitcoins to cash out. Never got asked for ID until last year.

Thanks to everyone. Good info here!

Have a wholesome image of lovely ladies as compensation.

>>11182128

Yes, of course. Going to a meetup with a captain of industry sure would be a super great solution to the power of exchanges.

Let's ignore the horror stories of people getting robbed, ripped off, scammed, and threatened.