I love how after all the dust settles, certain types here say how it was a great ride. Never a posted entry and exit.
Ok, i cancelled the $100 localbitcoins transactions after two hours after messaging the seller and no reply. It turns out Armory version 0.88.1-beta was a memory hog that could not work within a 4 GB RAM space like mine. it took about two days to download the blockchain! And could never completely scan transaction history. I'm now going to go ahead with version 0.89.99.14-testing which promises much better performance. Blockchain download should be 30 min to 3 hours and only need about 2 GB RAM. I also got Multibit and Coinbase going, but not fast enough to complete that transaction. Just as well because i the difference between then an now is 675 - 492 = 183! I've noticed something. My local seller has his account set up to track MtGox prices. So it appears to me that he is arbing out to the street, and back in via BTC-e. Nice! Edit: Btw, when i went into my big commercial bank downtown today, the teller told me that branch was closing and only one employee had a sure position at another branch. Are you thinking what i'm thinking?
In 35 hours it is down by 50%.....Around 470 now, after hitting 453..... Oh, how far the mighty has fallen... As long as price has been going up, using Coinbase for aquiring coins was an excellent way to hold and wait, because they keep their word of delivering the coins at the promised (and much lower) price. Of course when price is falling, this works against the buyer. It all depends if you are a believer or a realist...
Re: Coinbase In signing up with Coinbase, i got this message: What? This only makes sense to a buy-and-holder. It could go either way and work out. But i don't understand the logic of this.
I think they are extremely nice and don't want people to get stuck with a price of 800, when the current price is under 500. Thus they allow cancellation up to delivery. I am not sure it is a very good business model, but certainly very nice...
Ok, Armory version 0.89.99.14-testing worked just fine on my Win7 4GB ram system. Got it all done in 7 to 8 hours and didn't slow computer down at all. Now i'm working on getting funds to BTC-e, it's quite an oddessy. I think i want to avoid buying local and just get the best rate. MtGox is taking it's sweet time (days) to verify my documentation.
Discussion on which one is the best exchange to use and why: http://www.reddit.com/r/BitcoinMarkets/comments/1r32j0/currently_what_is_the_best_exchange_to_trade/ Interesting note: There is only 1 USA based exchange of importance left and their volume is shrinking.
This is a good review. "BTC-E has proven that theyre one of the leading exchanges, but there is always the possibility of them just running away with your money."