Ahh, I see what is wrong.
You have: Fee: 0.[65]% which uses 65 as a multiple. If you have a fee of just 0.[6] it uses 6 as a multiple.
So you have:
100 * 10 = 1000 with a selloff of 1065 for .65
and
100 * 10 = 1000 with a selloff of 1006 for .6
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How hard would it be to set up a Bitcoin cash machine where you deposit cash like a vending machine and you scan in your BTC address and it gives you the BTC?
It might not be something all that popular but if you had one in most major cities, people might be willing to travel to go get some if they find all other ways too time consuming.
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Enjoy!
Perfect! Thanks. One question though...where is everyone getting .65%? When I trade on MtGox it shows: Mt Gox charges a small fee (0.30%) for each trade.And with .3% would it not be multiplying times .003? Or .006 for two trades. So a transaction of buying 100 BTC at $10 would be $1000 with a break even point of $1006?
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speak of the devil...there he goes again
glad I sold at 10.1...I will see you on the other side of 8
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I am just glad that the manipulator is consistent in setting up the trades beforehand where you can see it coming.
When it was $8 and he pumped it up to $12 I was ready. Unfortunately I got off at $10 instead of $12.
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The convention will have some impact but not this week. I somewhat agree with your sentiment that a lot of people will hold on for the weekend crash since most people missed it last weekend. But that does mean that a lot of people will be taking money out before the weekend in anticipation, thus perpetuating it. It will just climb back up a lot quicker at the first sign of a price decline.
Bitcoin is still good in the long term. No matter what happens, half of the businesses pack up and go home, exchanges burn to the ground, etc...it will still survive and be of some use for somebody and is open to the free market and the ideas of people who have not yet heard of Bitcoin.
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I know this question might seem a bit dumb but how much does the price need to go up on mt. gox before I can sell at a profit with their normal fee.
Say I bought one btc at 10, how much would it have to rise. 6 cents?
It takes a buy at $10.00 and a sell at $10.12 to break even. Commission is (normally) .65%, so: I buy 10 bitcoins at $10 each, cost is $100 plus $0.65 commission. I sell 10 bitcoins at $10.12 each, I get $101.20 and pay $.55 commission. Sell-Buy: $101.20 - $100 = $1.20 Total Commission: $1.20 Result: Breakeven Hopefully I did this right http://zombietoday.com/trade_calculator.php<?php echo "<center>What's the minimum price I would have to sell back at to break even?</center><br />"; if($_GET['volume']>0 && $_GET['ppb']>0 && is_numeric($_GET['volume']) && is_numeric($_GET['ppb']) && $_GET['fee']>0 && is_numeric($_GET['fee'])) { $volume = $_GET['volume']; $ppb = $_GET['ppb']; $fee = $_GET['fee']; $fee_c = ($fee / 1000); //yea, I know...decided to not use the full percentage $total_buy = $volume * $ppb; $min_sell = $total_buy + ($total_buy * $fee_c); echo "[Buy]: ".$total_buy."<br />"; echo "[Sell]: ".$min_sell."<br /><Br />"; echo "You paid ".$total_buy." USD for ".$volume." BTC; you will need to sell back at ".$min_sell." USD to break even.<br />"; } else { $mtGoxAVG = mtGoxAvg(); echo "<form method=get>"; echo "Buy <input type='text' name='volume' value='1' size='2'> @ <input type='text' name='ppb' value='".$mtGoxAVG."'><br />"; echo "Fee 0.<input type='text' name='fee' value='65' size='1'>%<br /> "; echo "<input type='submit' value='calculate'></form>"; } function mtGoxAvg() { $opts = array( 'http'=> array( 'method'=> "GET", 'user_agent'=> "MozillaXYZ/1.0")); $context = stream_context_create($opts); $json = file_get_contents('https://mtgox.com/code/data/ticker.php', false, $context); $jdec = json_decode($json); return $jdec->{'ticker'}->{'avg'}; } ?> [edit]: I have no idea what I coded...lol. Modify it math nerds Well done. It would help to add at the end "Price to sell back at to break even: " eg. 10.12
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I have lost about $2-3,000 over the past month. I got in at $14.25 with $10k on its way down.
I pulled out and jumped back in lower a few times. I have pretty much kept my same level of BTC but my dollar value has gone down.
I had gone all in on BTC at $11 last week before everything went in the toilet. Wish I had kept at least half out in cash like I had been doing.
My goal is 1,000 BTC then hold for the long term.
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$80 is many weeks (or even a month's worth) of salary to billions of people.
I suggest those billions of people do not sign this pledge then. Out of the other billions who spend $100 per month we might find 1,000 of them who would like to use Bitcoins.
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Well if I can find enough merchants accepting them I will spend mine. They are tough to get and the processing painfully slow. I will do my part to spend lol
The first time through is usually around a week if going through the exchanges.
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is anyone interested in starting, a bitcoin trading club?
I would be interested. Though I could see plenty of room for abuse. "Everyone buy now!!!" As I sell all my BTC on the cheap...
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So many people with defraud the insurance companies that the price would have to be insane.
Defrauding with Bitcoins is just as easy as defrauding with car insurance or home insurance. You purposefully crash your car or burn down your home for the money. Then the insurance company comes in with investigators and find out that you defrauded them. Not only do they not have to pay out your claim but you also go to jail. They keep everything you paid in. Plus they can run the numbers against people based on the likelihood of fraud. Your transaction history and the amount you would insure would come into play.
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How many regular insurance companies cover loss of fiat notes? How do they know the "bad" thing wasn't you transferring them to a friend?
Insurance companies insured bank money for years.
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I wonder if there would be a way to offer Bitcoin insurance.
You pay the insurance and if something bad happens to your Bitcoins and you lose them all...then the insurance company reimburses you. Then the company can go after whomever stole it.
This could be a whole industry of Bitcoin detectives working for insurance companies.
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i would do that, but i don't have a 10btc/month income. i don't think i can reach 1btc/month. but i want to help the economy grow.
what do?
You make less than $1200 per year? Do you live in Haiti?
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900 people share your sentiments...
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it was at 7 and change and bounces to 10 then 12 then back to ten area and you call this a crash?
The sky is falling!!! Sell your mining machines!
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$12 down to $10!!!!
Oh noooossss!!!!
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Guys, the problem with BTC is not that people aren't using them for spending.
The problem is there are no good places to spend them. Until merchants that currently accept BTC grow or larger merchants find a useful way to implement BTC, their "primary" purpose will not be realized.
It is a chicken and egg thing. Not enough merchants support Bitcoins because not enough people spend them. If you had to spend 10 BTC every month, you might start to push local merchants that you frequent to start accepting Bitcoins. Merchants who know that there are 10,000 Bitcoins flowing every month will want to tap into that revenue especially as the price goes up.
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