Bitcoin Forum

Yes the price is down. Who cares? Look at the intrinsic value of the technology we are heralding.

A few weeks ago I had to send some money to a friend in Florida. I sent him 100$ and moneygram took 11.50 out of that.

Anybody who knows anything about bitcoin can see the obvious advantages of bitcoin. It will simply take time for the masses to get educated. Once that happens the revolution will happen overnight. One day the price will be floating at say 350, and the next it will skyrocket. All the shorters will lose tons of money and miss the historic rise.

This is called a tipping point. Now ask yourself, which side of the tipping point do you want to be on? Do you want to bet against bitcoin and make a paltry amount of devaluing fiat, or do you want to join the ranks of bitcoiners who will have the keys to the future?

I transferred £100 from the UK to Mexico last week, using Xpay, and they charged me 50p transaction fee with a 2% spread, so my total cost was £1.50.

You got ripped off.

Bitcoin transfer would be significantly more expensive that what I paid.

Yes, but does Xpay tickle your balls with speculative allure? I think not. Clearly, you are the one who got ripped off.  ::)

You sure got some broke-ass friends...  Why didn't you send Bitcoin instead?

That's a flat out lie.  Unless Xpay was paying you to make the transaction then you are just spreading FUD.  Meet my ignore list

He wasn't a bitcoiner. Bitcoin will be atleast 2000 by the end of 2015, mark my words.

You missed an opportunity to turn him on to Bitcoin--the fastest, cheapest way to send money Bitcoin :(

You've ignored me now, but in case you haven't, the website is:
https://www.xendpay.com
(sorry, I meant xendpay rather than xpay).
They explain all of their charges very clearly on the website.
Those were the charges they applied to my transaction.

If only you hadn't ignored me, you could save yourself money in the future!!!

That is what I look at.

So you paid 1.5 pounds for the transfer, I think? That is Wayyyy more than what it would have cost to send BTC. Which would have been around 3 pence.

Yes yes yes, and turtles can fly. Pure speculation, not backed up by any facts.

That's right, I paid 1.5 pounds, or 1.5%.
I thought BTC would be cheaper too, but then I would have to pay fees at the Mexico end too. Big fees.

Hmmm. I'm not sure what fees you mean? The cost of turning them into Pesos in Mexico? The only fee in the bitcoin network is the Tx fee. That is a voluntary fee that you should pay and the suggested amount is 0.0001BTC per kb. or about $0.04USD. Any other fees are being charged by...? I don't know?

There is absolutely no cheaper way to send money around the world than bitcoin. Perhaps the wallet service you use is charging you or something?

It's the spreads. They just seem to be enormous with MXN. Check out these buggers, they're like 12% spreads!
https://localbitcoins.com/country/MX

The question is: how do you transfer into MXN without being hit by a massive spread?

FTFY :)

Oh I see, it's the price your buying BTC at. 12% is ugly.  :-\
I don't know much about other buying options in Mexico. This has been a long term issue in the US also. However I would expect more competition in the future and more exchange options. That is what happened here and every year I find a better, more reliable and cheaper option. Unfortunately the price is outside of the bitcoin protocol, which only has a tiny fee for the transfer. What you need is a better dealer. 

The problem is how are you supossed to send Bitcoin to a person that isn't a Bitcoin and doesnt know how to use it ? They have to learn first.

What is the name of this subforum?

I think we need a speculation sub-subforum for these kinds of discussions because clearly just one level of speculation recursion is not enough.

Bitcoin's great for sending money abroad provided you don't get ripped off changing it into fiat. What kind of fees do bitcoin ATM operators charge? If there was a cheap one in every city centre nobody would use bureaux de changes or Western Union to take or send money abroad.

The technology behind bitcoin is the future and is here to stay forever. The start-ups being created right now will move actual assets way better than BTC anyway...
Read some SEC s-1 forms and get back to me about bitcoin in 2015