Wednesday 12 October 2011

Buying Some Bitcoins

I wanted to buy some backup space on Wuala using their bitcoin offer. As I'd only every dabbled with bitcoin previously I only owned 0.005BTC. How many bitcoins do I need?
Wuala are selling 1GB of storage for a year for 0.1BTC. Looking on Mt. Gox, I can today (12 Oct 2011) buy 1BTC for about 2.60 GBP. That would be a staggering 26 pence per GB per year. I figure I'll push the boat out and try to get 100GB. I've sent a bank transfer of 3GBP to Mt. Gox. As soon as it clears I'll have a go at buying storage with bitcoins.

1 comment:

Unknown said...

Of course I've got the maths wrong here. If I want 100GB I need 100 x 0.1BTC = 10BTC. At about 2.60GBP per BTC I would need 30GBP in the Mt Gox account. Oops!