Structurally Paypal is not bad (few services channel funds in such a global way) but their fees for receiving funds is 2.5% of amount. Withdrawl of anything < 150 is again a %. Painful.

Also eBay's guarantee of insurance for not delivered goods is some what of a scam. Took me 4 weeks and constant battle with "work-from-home" paypal employees eating cereal in a Canadian kitchen to get half of my funds back. Finally complained to my CC company and they toasted PP's behind by reversing full amount under the category "fraudulent charge to customer" 

Caveat emptor has a new meaning now days. 

Perhaps, the client is charging additional fees for itself? Assuming you're using a proprietary system and not code downloaded from bitcoin.org? Just a thought... I'm a beginner myself. I feel your pain.

0.0005 for miners
0.00006435 for app maker itself

Yep, signs of the traditional bank charge model signs.

*piffany! Unless - the charge is % of amount you paid!

Can't agree more my friend. Did you know that Aussie banks charge $52 p.a. for a normal 0% debit account? Who charges account keeping fee in 2011 anyway? As it is they hold custody of our funds. A recent hedge fund survey stateside revealed that the demand coversion rate for USD if banks wen on a run is 1:30. That is if everyone withdrew at the same time, paper note will be 30 times more valuable than nominal amount in bank. You probably already read this.

In that sense, BTC is extra-ordinary. There is no such thing as "with-drawl" or "with-drawl fees".  

That's not bad at all, 65c a pop keeps BTC much more attractive than regular currency transactions. Banks are such a rip off. Cashing a cheque from the US costs $15 Dingo Dollars at any Aussie bank. 

Sorry re-being vague. Referring to transaction fees for sending money. (A) sends 100 BTC to (B). Says there's 20 Million BTC in circulation. No more are being created (through mining). So what would you charge to deliver A's money to B? What would be a fair price?

[No right answer, just wanted to understand what the BTC community feels is fair, what is the willingness to pay]

The above two posts clarify a lot of my understanding, thanks guys.

Could do, could do. Here's hoping! Fingers crossed. 

Here's some more food for thought.

AUD has reached it's highest in 28 years! 1.0965 against the greeback. Yet, stuff nominally costs 3 times as much compared to US. A Playstation 3 game is $49 offself in Frys and costs $119 in EB in Sydney. That US$130!! AU banks were immune to GFC but its inhabitants are about to hit the street. 42% income tax, 2.5% medicare levy, QLD floods 0.5% levy, carbon tax! And Gillard's govt wants to take AU budget back to suplus. Good lord! So Australians could be in as deep a fiscal trouble as America (they just don't realise it) - - USA's was inherent trouble, Australia's may be voluntary (the govt. refuses to issue bonds - what's the point of a AAA credit rating).

Enough ranting.   Getting back to BTC. Why would Aussies (or anyone) want to invest in BTC (apart from the fact they already mine and earn for fun) in this weather?

[I have a feeling I may get pelted by BTC fans, Haha. Earthlings, I come in peace]    

BTC is a small community at the moment. From my observation, people are still more focused on "mining for coins" than actually spending it on commerce. You exchange for valuable goods, first or second hand. I'm not saying it's not happening... but could be more than what it is.

Also if you watch forex trends, JPY and CHF usually sky rocket when US announces it's in trouble. Why? Because they are safe haven currencies. Deflationary. At first BTC looks like a safe haven. But is it really? That's question. Would you as savvy currency investor hedge yourself by buying CHF, JPY, Gold, Oil futures or BTC?

 

thanks, friend.

The U.S. president gave his speech on debt and forex markets are hammering the greeback. If BTC is liquid and in demand, it should regain it's loss of 1.5-2 bucks in value over the last week and go back to US $15 a pop! Go long guys, go long if you get any broker offers below $14.

 

Ah ok cool. Thanks for clarifying. 

True. 0% is always desired.

The thing I don't get is, if you kept BTC in your local laptop offline and tried to pay out, it asks "0.0005 transactions fees". And there is no guarantee that BTCGuild will process it, so might end up in a pool that charges. So does a transaction cost by default for all trades at the moment?

So what do you guys think is a fair price? 2%, 1%, 0.5% ?

Obviously, the way things are going, transactions won't be free unless the "faciliator" of the transaction has a massive mining and server advantage or is compensated other ways which allows them to afford free transaction offers. This is already the case.

 

Instawallet keeps creating a new wallet everytime it refreshs. So that's ok? Wouldn't that hog up massive amounts of server space?

Hi Guys,

If a wallet has 0.00 balance:

#1 Isn't that a waste of wallet address keys?
#2 Do they have an expiry date?
#3 Can they be destroyed? So someone else can use the key?
#4 Would we have the same problem as IPv4 in future where there is a payment address key scarcity?

Thanks in advance for replies.

  Cool link, tks Alans.

"Satoshi" is such a cool name:

1 = Satoshi
1000 = Kilo-toshi
1000,000 = Mega-toshi
10 BTC = Giga-toshi

He he 

Collecting 4 hours of DBoard time is a challenge indeed. It's genuine 4 hours too. Can't login and sleep.  

G'day!

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