12 Days of Bitcoin: Here's How to Buy One for $800

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Dec. 9 (Bloomberg) -- Bloomberg’s Matt Miller takes you through the process as he fulfills his quest to purchase a Bitcoin with Bloomberg News’ Max Raskin on Bloomberg Television’s “In The Loop.”

Having a hard time even buying it.

Quick i've been trying for days and days.

Either you have to wait like four days, which seemed an inordinately long amount of time, or you have to give them everything.

Make out details, credit card details, it has to be a visa card by the way, social security number, and i just really felt uncomfortable giving out that kind of information, especially since the whole point of me getting a bitcoin is so i can move my life off the grid.

Move into the mountains.

Is that the point?

I am just doing what my boss told me to.

I have not gotten a bit going aired -- a bitcoin, and over the weekend we tried to find other people, but we can never really meet up.

Or they were asking for $1200 that was for something that was really only $800 value.

So we called up max.

So you have bit going -- bitcoin?

Yes.

I just not one for matt -- bouth ght one for matt.

The price had climbed up over well hundred -- climbed well up over $1200. the crater to $600 came quickly.

Now you can sell the tesla, the back to motorcycles.

I feel crazy giving away this many 20s for one bit going.

-- buitit coin.

Here i have a wallet, and they have an app for my iphone, and it is camouflaged otterbox defender case.

You take a picture of my qr cod e. what are you doing exactly?

You are syncing them?

I'm going to scan his phone.

Ok, you're going to scan his phone, and?

Is not working?

This is like a bill gates demo.

Something always goes infamously wrong.

This is the issue.

Something always goes wrong.

Just show us what is on the screen there.

What shows up?

I can say this is the address that i put him in.

Matt miller.

And then?

And now it sends it.

This notion of all of the transfer of bit coins, it is worth what you're willing to pay for it.

Now i haven't -- have it.

You just want a bit coin?

I can tweak it to my good show on facebook that i got wanted and i can ask for tips.

How come you do not start off doing it this way?

People do do it this way.

On thursday, there is a meeting where everyone goes to send them back and forth to each other.

The thing is, there are not that many meetings like that.

I was trying to meet a guy in yonkers to pick one up.

You have your bitcoin, and you have your $800. i do.

[laughter] i was trying to buy it with my bloomberg amex which i did not want to pay for with it myself -- paid for it myself, but these methods do not work yet because the concern is -- if max transfers me a bitcoin, i can try to reverse my paypal payment, and then i have his bitcoin and my money back.

It is having a little bit of a teething problem getting off the ground.

This text has been automatically generated. It may not be 100% accurate.

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