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Hey thanks for adding us to your list!
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Exactly right! Our fees are baked into the price. We cover the Bitcoin network fee as well, which can get quite high at times. Ultimately our fees are dynamic, the markup you see now is the very high end. Our goal is to be around or even below the most competitive cash offerings in the space (8-12%).
As a suggestion, I think it would be much better if you disclosed how much of the price comes from the fees and your service cost. Fees are really high right now, so I understand that. But it would be great if the user could also see all of this in a detailed way. That's an interesting suggestion! Miner fees are entirely variable, sometimes they are low, sometimes they are high. There is no way to know how much the network fee will cost until we send the transaction. But that is not something the user needs to worry about, as their rate is locked-in once the user has completed the Card Authorization step of the order process. They will get the same amount of Bitcoin regardless of the miner fee. We take on any risk associated with fee spikes, not the user. Ultimately the time at which we broadcast the transaction is dependent on when the user uploads their images, which may not be right away. Once the images are complete we broadcast the transaction in a few minutes. That said, when your order is complete you will be able to view the transaction in the network and observe what miner fee we did pay. |
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There is an Easter Egg somewhere in the OP, let's see who finds it first  |
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There is an Easter Egg somewhere in the OP, let's see who finds it first |
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Hey Bitcointalk! We'd like to share our service offering with your community. We've been live for almost two years now, and have built a website that we think a lot of you will find useful. You'll be seeing a lot more of us around here, we'd love to get to know you all and answer any questions you may have. Here's our homepage: https://cardcoins.coAs a company, our main goal is to help cash-preferred customers buy Bitcoin with the least amount of friction possible. We know how annoying it can be to use Bitcoin ATMs that have long lines, full cash boxes, unclear store hours and dirty touch screens. What we've done is build our offering around the distribution of "open loop" gift cards that are branded with the Visa, Mastercard and American Express logos. We estimate that these gift cards can be purchased with cash at over 100,000 stores in the U.S. We have a handy map you can use to find 60,000 of them: https://map.cardcoins.co. You can find them in pharmacies, supermarkets, gas stations, big-box retailers and other locations you likely frequent on a daily basis! If you'd like to learn a little bit about how order process works, you can check out this blog post: https://blog.cardcoins.co/how-to-buy-bitcoin-with-cardcoinsIn summary, all you need is the gift card, its packaging, the receipt, a pen and a phone number to get started. No clunky sign ups and annoying email confirmation processes. Here are some useful links to get started: Our FAQ: https://www.cardcoins.co/?faqDaily transaction limits: https://www.cardcoins.co/?limitscomplianceOur blog has some great content as well, for example this post details our company philosophy and why we think Bitcoin and gift cards work very well together: https://blog.cardcoins.co/gift-cards-and-bitcoinWe've also been featured in some popular publications you may be familiar with. We're big supporters of open source software development and directly participate in the funding of a Bitcoin Core developer, hebasto. https://www.coindesk.com/startup-cardcoins-bitcoin-core-developerhttps://www.yahoo.com/news/startups-cardcoins-payvant-issue-one-214908626.htmlHebasto has done some great work in the past 6 months, you can follow his commit history here: https://github.com/bitcoin/bitcoin/commits?author=hebastoThat's all the info we have to share for now, looking forward to hearing from the Bitcointalk community! |
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How you calculate BTC price? It seems the current BTC price on your website is $14028.00 where Bitcoin trading now at $11,684.30 other exchanges.
Their fees are included in the price: CardCoins charges a fee which is added on to the market price. The CardCoins price is visible on our website at all times. $11.590 vs $13.904 or around 20% is a big difference in price. Still a bit better than most Bitcoin ATMs though.  Exactly right! Our fees are baked into the price. We cover the Bitcoin network fee as well, which can get quite high at times. Ultimately our fees are dynamic, the markup you see now is the very high end. Our goal is to be around or even below the most competitive cash offerings in the space (8-12%). Outside of major metropolitan areas, Bitcoin ATM fees can be quite high (we've seen upwards of 30% and more)! |
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Hey Bitcointalk! We'd like to share our service offering with your community. We've been live for almost two years now, and have built a website that we think a lot of you will find useful. You'll be seeing a lot more of us around here, we'd love to get to know you all and answer any questions you may have. Here's our homepage: https://cardcoins.coAs a company, our main goal is to help cash-preferred customers buy Bitcoin with the least amount of friction possible. We know how annoying it can be to use Bitcoin ATMs that have long lines, full cash boxes, unclear store hours and dirty touch screens. What we've done is build our offering around the distribution of "open loop" gift cards that are branded with the Visa, Mastercard and American Express logos. We estimate that these gift cards can be purchased with cash at over 100,000 stores in the U.S. We have a handy map you can use to find 60,000 of them: https://maps.cardcoins.co. You can find them in pharmacies, supermarkets, gas stations, big-box retailers and other locations you likely frequent on a daily basis! If you'd like to learn a little bit about how order process works, you can check out this blog post: https://blog.cardcoins.co/how-to-buy-bitcoin-with-cardcoinsIn summary, all you need is the gift card, its packaging, the receipt, a pen and a phone number to get started. No clunky sign ups and annoying email confirmation processes. Here are some useful links to get started: Our FAQ: https://www.cardcoins.co/?faqDaily transaction limits: https://www.cardcoins.co/?limitscomplianceOur blog has some great content as well, for example this post details our company philosophy and why we think Bitcoin and gift cards work very well together: https://blog.cardcoins.co/gift-cards-and-bitcoin We've also been featured in some popular publications you may be familiar with. We're big supporters of open source software development and directly participate in the funding of a Bitcoin Core developer, hebasto. https://www.coindesk.com/startup-cardcoins-bitcoin-core-developerhttps://www.yahoo.com/news/startups-cardcoins-payvant-issue-one-214908626.htmlHebasto has done some great work in the past 6 months, you can follow his commit history here: https://github.com/bitcoin/bitcoin/commits?author=hebastoThat's all the info we have to share for now, looking forward to hearing from the Bitcointalk community! |
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As mentioned, bumpfee won't let you do this, but if you do attempt it with a raw transaction, note that you will have to bump the fee relative to the entire package of transactions. So if you are bumping the fee of a transaction with a lot of descendants, you will need to calculate the total package size in bytes, then bump the fee accordingly.
Are you thinking of CPFP (Child-Pays-For-Parent)?  If so, that works the other way... when you're trying to get one of the descendants confirmed quickly, you have to take into account all of the ascendants. ie. if you have the following chain of transactions: TransA -> TransB -> TransC -> TransD -> TransE And you bumpfee on TransA... then B, C, D and E will become invalid as the hash of TransA will change, making B invalid. If you're wanting to get TransE confirmed quickly, then you would need to take A, B, C & D into account as well, to make sure that the fees are big enough for miners to want to get all 5 transactions included in a block. Are you familiar with RBF pinning? This is a good explanation of the issue I have described. CPFP is subject to the same principle. If I could just kick out transactions w/ descendants from the mempool without paying for the full package that would be a DoS attack of sorts. Unfortunately it can also be turned on its head to "stick" transactions. https://bitcoinops.org/en/topics/transaction-pinning/ |
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As mentioned, bumpfee won't let you do this, but if you do attempt it with a raw transaction, note that you will have to bump the fee relative to the entire package of transactions. So if you are bumping the fee of a transaction with a lot of descendants, you will need to calculate the total package size in bytes, then bump the fee accordingly.
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1 @ .08.
PM'd you as well Theymos, per your request in OP.
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Have you seen our service before? https://cardcoins.coYou can buy Bitcoin from CVS, Walgreens, Best Buy and pretty much every other big box retailer in the country by loading a Visa/Mastercard/Amex prepaid card from their gift card rack. Take a look at all the locations: https://map.cardcoins.co, there are over 60,000. Our order process is quite easy as well, you don't need an account at all--just a phone number to get started. |
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