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Author Topic: Looking back, some jerk charged me 10% ...  (Read 989 times)
LoweryCBS
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January 31, 2013, 12:49:30 PM
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... over spot for 100 bitcoins back around the middle of last year.

10% !!! That was like... 50 cents over the $5 they were selling for on Mt. Gox.

What an asshole that guy was.

----------------------
Edit: Ummm... guys? I was being sarcastic  Wink -- wish that I'd had a lot more cash for a lot more bitcoin at that time, even at a 10% premium. (these days, I'm buying at a discount to spot - I've learned a lot since those days Wink )

Point is, these days I tell folks that want to get in, to just GET IN, and don't worry about premiums, or spot, or whatever  Cheesy
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January 31, 2013, 01:02:21 PM
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Caveat emptor
franky1
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January 31, 2013, 02:24:21 PM
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bitinstant can charge you 4% for converting received moneygram into BTC. and moneygram would charge you $40 aswell just for sending it to bitinstant.

to ensure you get full use of that days bitinstant $500 limit. you would have to give moneygram $540. then bitinstant would charge you their 4% on the 500 they receive.leaving you $480

$480 worth of bitcoin is 96BTC.

and thats without including your fuel to visit the store and travel time wasted.

ill say it again $540 for 96BTC

atleast your 100BTC are now worth $20each if you sold them.. so he lost by not just hoarding them. not many places you can turn $550 into $2000 in under a year

and leave you to ponder if the deal that guy offered you was inconvenient or not.




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January 31, 2013, 02:47:37 PM
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why complain ? if somehow sold you with a 10% surcharge and you accepted, what is the problem ?
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January 31, 2013, 03:03:43 PM
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10% !!! That was like... 50 cents over the $5 they were selling for on Mt. Gox.


Yeah. Same here. Interesting topic. I paid 10 (or was it 15%) premium on five-dollar-bitcoins last spring.
Purchased with debit card over at Bitcoinnordic. So convenient. Almost instant delivery. <3

The fee was annoying at the time, but I figured it would be irrelevant on a long enough time-scale.
Still, I probably bought less than I "should" have because of those annoying fees.

When making investment decisions, one really needs to make a conscious effort to step back and try to see the bigger picture.

Try to pop out of system one, and jump into system two, as it were.

Right now, 17 feels quite cheap, 23 feels very expensive. That will change. It will change soon, and it will change often.

The psychological effect of price anchoring in bitcoin is really strange and interesting.
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January 31, 2013, 03:09:29 PM
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why complain ? if somehow sold you with a 10% surcharge and you accepted, what is the problem ?

The OP was being sarcastic...

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