Every not common, binary file will bring huge security
Like a family picture. Or that movie you made with an ex-girlfriend long ago.... |
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Nevermind. I had connection problems... But I still can't do level 5. Are you sure it's correct?
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Is it down? I was almost past level 5...  |
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Can someone explain to me exactly how the exchange rate of BTC/USD or BTC/EUR is calculated?
There are people selling bitcoins and people buying bitoins. Sellers want to sell at high prices. Buyers want to buy at low prices. When a seller offer meets a buyer offer, a trade is made. The current price is the price of the last trade. For example, these are the current offers at Mtgox: http://bitcoincharts.com/markets/mtgoxUSD_depth.html |
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Interesting concept. Thanks for sharing  |
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That Stack Exchange site is going to overpopulate with projects pleasing only other developers and programmers without that large forum of the general public to get a overall grasp of what is going on with Bitcoin.
As much as they are allowed other questions, I think you all know that is not what the site goes for.
To get an overall grasp of what is going on with Bitcoin you go to a news site like reedit or bitcoin news. A Q&A site is to get support, which is really difficult to get in this forum. Specific programming questions will be redirected to StackOverflow. You can take a look here to see the type of questions we will answer at Bitcoin Stack Exchange. |
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I still can analyze your charts!  I was just curious how exchanges worked - not how prices move or any charting basics. How can you analyze a chart if you don't know where the data comes from? I mean, do you even know what market depth is? A point in the chart is made when a seller meets a buyer. Exchanges just make the match. |
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I'm not registered to their site, but upon opening their account registration I see a bitcoin banner (fairly large) in other payment options. From there, you can see: Premium duration incl. points onetime fee most popular payment options
48 hours 1.000 4.99 €
~ 0.79084697 BTC» Complete order process with Bitcoin
1 month 4.000 8.99 €
~ 1.42479243 BTC» Complete order process with Bitcoin
3 months 5.000 19.99 €
~ 3.16814246 BTC» Complete order process with Bitcoin
6 months 6.000 34.99 €
~ 5.54543795 BTC» Complete order process with Bitcoin
1 year 9.000 59.99 €
~ 9.50759711 BTC» Complete order process with Bitcoin
Lifetime − 199.99 €
~ 31.69568837 BTC» Complete order process with Bitcoin This is good stuff. They need to open a donation address. Donations to these bigger companies are a good way to get them to spread the word as well as they've got much bigger voices when it comes down to others accepting/using bitcoins.. You're right. I kept clicking in the affiliate program that doesn't have the banners yet. These are indeed good news |
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I don't what you guys are thinking but I do not want by balance publicly displayed. I am sure any merchant that uses flexcoin agrees with me.
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Any news on this? Almost a month have passed and I still don't see a BTC option..
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Wasn't antagonistic till the hobby comment. Was truly surprised they charged virtually the same as paypal. I had already stuck my neck out with proposals to two different boards of directors to consider their service. My bad for not completing my homework before talking. Hope I keep the cards closer to the chest from now on and keep quiet about the possibility of using bitcoin as a payment alternative to paypal and major players like my *former* one that you seem to think I still work for.
BTW in my limited experience most start-up companies offer a pricing scenario that *undercuts* the existing marketplace.
The lack of outrageous fees is part of what attracted a few of us to bitcoin in the first place.
You know, one problem is that companies want to be paid in USD, not in bitcoins. The other problem is that bitcoin prices fluctuate a lot. When you mix these together, it becomes hard to establish prices. So yes, with 3% fees, companies won't be able to lower their prices. However, they can earn money from bitcoin buyers (if they are interested  ) |
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But with TradeHill and Mt.Gox, I have been able to make 200% profit from my original investment in as little as 1 month. How long would it take me to make 30 BTC from an original investment of, say, 10 BTC, using only Flexcoin?
That's like comparing a bank deposit with gambling. You earned 200%, but it was risky. Investments with lower risks provide lower interests. |
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That being said, the way I understand the fee/discount system is that it's stealing from the poor and giving to the rich.
When you have money on the bank, you will earn more money from interest if you have more money on your account. Here happens the same. The fees are there to encourage people to use flexcoin for payments. |
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Did you see those fees mentioned on the website?
Did you notice I had to ask specifically what the fees were to even have this brought out?
That is a good point. Those fees were announced here, but I don't see why don't they put up more info before sign up. I would like to know beforehand how much I would have to pay.
Did you know that the average fee for credit card procesing should be about 1.5% and $0.15?
Did you realize they are charging double the average?
They are charging 1%, in case you didn't notice. They only charge 3% if there is a currency conversion. How much are the credit card processing fees for different currencies? If I were a merchant, I would rather pay these 3% to have steady USD payments than risking 50% of my income (like it happened on August 6th when the price dropped from $10 to $5). But the choice is up to you. |
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So it looks like you have other hidden fees...
Good Luck
Man... what hidden fees? It's dead simple: Bit-pay Bitcoin to Bitcoin is 1%. Paypal USD to USD is 3% (or 5% if it's less than $2). Bit-pay Bitcoin to USD is 3%. Paypal USD to other is 5.5% (or 7.5% if it's less than $2). And since they convert USD prices to bitcoins, they have to deal with market fluctuation. The other day the bitcoin price dropped from $12 to $10 in less than 5 minutes. That's ~20%. They are the only ones providing such service. Prices could be more competitive if there were alternatives, but I don't think they are expensive. |
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