[ANN] CoinByCall.com - Get paid in BTC for listening radio over the phone

[katie.mckinley]

When the Bitcoin prices drop will we get more Satoshis again? Cause I always see the number going down but never back up.

[ajw7989]

When the Bitcoin prices drop will we get more Satoshis again? Cause I always see the number going down but never back up.

I agree the amount of bitcoin we get is so small. I wish it would go up now that bitcoin has dropped

[katie.mckinley]

When the Bitcoin prices drop will we get more Satoshis again? Cause I always see the number going down but never back up.

I agree the amount of bitcoin we get is so small. I wish it would go up now that bitcoin has dropped

I also saw some of the old rates... Why don't you guys just have a formula and have it auto update...tell it to target X amount in USD per minute based on the Bitcoin Price at the time the call ended. Have that script run and update every minute or so...

When first started people were getting the equivalent of 0.00396744 in USD per minute but now the rate per minute is 0.00080619 I can see why you'd need to adjust it if the agreement has changed and so forth but it fluctuates daily... Anyway just a suggestion...

[CoinByCall]

I also saw some of the old rates... Why don't you guys just have a formula and have it auto update...tell it to target X amount in USD per minute based on the Bitcoin Price at the time the call ended. Have that script run and update every minute or so...

This is not trading, so this won't work. See below.

When first started people were getting the equivalent of 0.00396744 in USD per minute but now the rate per minute is 0.00080619 I can see why you'd need to adjust it if the agreement has changed and so forth but it fluctuates daily... Anyway just a suggestion...

That's not true. You are confusing USA with Finland. USA has always been around 0.0008 USD, Finland has always been around 0.004 USD.

Ok, the question about higher or lower payout pops up more often recently, and many people seem to get confused. So here's how it works internally:

1. The payout per minute is a fixed settings in the system - per country. The payout value is stored in USD in the database.

2. How much is actually paid out in BTC/LTC depends on the exchange rate at the very minute when I purchased a chunk of BTC or LTC. If I would buy BTC for 200 USD right now I would get 0.35 BTC. The system then knows: Aha, we have 0.35 BTC available and we paid 200 USD for it. The system automatically calculates the payout amount per minute in BTC depending on the purchase price and the fixed payout value (in USD), which both are statically stored in the system. The USD payout value never changes (ok, except for Austria in the beginning of November).

3. Now, let's say it takes 3 days for these 0.35 BTC to get paid out to all callers. Let's assume on the 3rd day the BTC-USD exchange rate suddenly increased by 100%. Then you would see at CBC: "... That's equal to <something-higher-than-2-days-ago> USD" and you would be like: Woohoo, now CBC pays out more, yeah! Or: Boohoo, CBC pays out less, if the exchange rate decreased. But that's incorrect. You get paid the same amount of BTC/LTC than 2 days ago. The "... That's equal to ... USD" thing is displayed dynamically, updated every 5 minutes using the data from btc-e.com. It's only for informational purposes so that the callers get a better idea of how much the BTC/LTC payout is *currently* worth in *USD*.

4. Let's say the 0.35 BTC are used up and we just bought a new chunk of BTC for 200 USD, but this time 200 USD was only equal to 0.20 BTC because the exchange rate changed. Now you would see that the payout *in BTC* is lower than before, but it is still the same payout in USD because that's static for every country. And so on.

I hope you got it now.

[ajw7989]

makes sense thanks for clearing it up

[katie.mckinley]

I also saw some of the old rates... Why don't you guys just have a formula and have it auto update...tell it to target X amount in USD per minute based on the Bitcoin Price at the time the call ended. Have that script run and update every minute or so...

This is not trading, so this won't work. See below.

When first started people were getting the equivalent of 0.00396744 in USD per minute but now the rate per minute is 0.00080619 I can see why you'd need to adjust it if the agreement has changed and so forth but it fluctuates daily... Anyway just a suggestion...

That's not true. You are confusing USA with Finland. USA has always been around 0.0008 USD, Finland has always been around 0.004 USD.

Ok, the question about higher or lower payout pops up more often recently, and many people seem to get confused. So here's how it works internally:

1. The payout per minute is a fixed settings in the system - per country. The payout value is stored in USD in the database.

2. How much is actually paid out in BTC/LTC depends on the exchange rate at the very minute when I purchased a chunk of BTC or LTC. If I would buy BTC for 200 USD right now I would get 0.35 BTC. The system then knows: Aha, we have 0.35 BTC available and we paid 200 USD for it. The system automatically calculates the payout amount per minute in BTC depending on the purchase price and the fixed payout value (in USD), which both are statically stored in the system. The USD payout value never changes (ok, except for Austria in the beginning of November).

3. Now, let's say it takes 3 days for these 0.35 BTC to get paid out to all callers. Let's assume on the 3rd day the BTC-USD exchange rate suddenly increased by 100%. Then you would see at CBC: "... That's equal to <something-higher-than-2-days-ago> USD" and you would be like: Woohoo, now CBC pays out more, yeah! Or: Boohoo, CBC pays out less, if the exchange rate decreased. But that's incorrect. You get paid the same amount of BTC/LTC than 2 days ago. The "... That's equal to ... USD" thing is displayed dynamically, updated every 5 minutes using the data from btc-e.com. It's only for informational purposes so that the callers get a better idea of how much the BTC/LTC payout is *currently* worth in *USD*.

4. Let's say the 0.35 BTC are used up and we just bought a new chunk of BTC for 200 USD, but this time 200 USD was only equal to 0.20 BTC because the exchange rate changed. Now you would see that the payout *in BTC* is lower than before, but it is still the same payout in USD because that's static for every country. And so on.

I hope you got it now.

ありがとう！ Yes it makes sense, and I totally did look at the wrong number on my thing, so it was my bad confusing Finland with USA!

Sometimes I really hate accounting >.<

[sebastian89]

Can you please review the payout fees. I'm talking about litecoin payout fee, since ltc is now about 18$ and the fee is still 0.1ltc we are paying something like 1.8$ fee. Ok let's talk about coin fee, if we take an average payout call such as austria it is now 0.00014ltc per minute. That means we need to call 0.1/0.000147=680.2minutes=11.3hours=11h22minutes, all this just in order to pay the withdrawal payout fee. While if we choose btc it is only 0.0001btc fee  equals (at same austria payout rate) only 0.0001/0.00000182=54.9minutes(or 0.9hours).

I've made the maths so this is clear for everyone. If we are chosing ltc we paye 11.3hours for fee and btc only 1 which seems a fair trade while ltc doesn't.

That's why i'm asking if it is possible to lower the ltc fee now that price have raised a lot since the moment i believe the fees were set up.

Thanks a lot.

[pedrog]

I'm with sebastian89, instant payout is nice, but if you did payout only once a day and group all payments in one transaction you'll save all of us a lot in fees, especially for Litecoin....

[CoinByCall]

I've changed the LTC transaction fee to 0.02 LTC.

[sLaughter313]

Hi, i just made an CBC account. I try to take a USA number (in Numbers, click on "Assign me a new number"), the request seems to be successful. But the new number is not generated. You can check this issue?

[CoinByCall]

Hi, i just made an CBC account. I try to take a USA number (in Numbers, click on "Assign me a new number"), the request seems to be successful. But the new number is not generated. You can check this issue?

Fixed!

[TonyOliver]

Guys - your site has been having major issues for days. Currently your site is down and my pin is saying it is invalid when I call up.

What is going on?

Also you appear to have raised the minimum withdrawal amount 10 fold without notice? I was in a position to withraw my funds prevously but now am not. I have sent messages on twitter but you haven't responded?

Im getting concerned and have clocked up over 20 hours of listening?

Can you please respond.

[pedrog]

Guys - your site has been having major issues for days. Currently your site is down and my pin is saying it is invalid when I call up.

What is going on?

Also you appear to have raised the minimum withdrawal amount 10 fold without notice? I was in a position to withraw my funds prevously but now am not. I have sent messages on twitter but you haven't responded?

Im getting concerned and have clocked up over 20 hours of listening?

Can you please respond.

No problems here.

Min payout still 0.01 BTC or 0.50 LTC...

[pedrog]

Do folks really have the time to do this?

Granted, you are just gonna let it run

Even so, seems like a lot of work for not much coin

What are you talking about?

It takes two seconds to dial a number...

[CoinByCall]

Guys - your site has been having major issues for days. Currently your site is down and my pin is saying it is invalid when I call up.

Should be fixed? If not, is the system reading you your correct PIN back?

Also you appear to have raised the minimum withdrawal amount 10 fold without notice? I was in a position to withraw my funds prevously but now am not. I have sent messages on twitter but you haven't responded?
Im getting concerned and have clocked up over 20 hours of listening?

Twitter is a bit of a weird platform for support. Better post here. To answer your question: no idea what you are talking about. The minimum withdrawal amount has never been changed.

[sLaughter313]

hi, i noticed that btc and ltc fee have different values, btc 0.0001 (approx 0.1$) and ltc 0.02 (approx 0.6$), can you lower ltc fee to something like 0.1$ like btc?

[CoinByCall]

hi, i noticed that btc and ltc fee have different values, btc 0.0001 (approx 0.1$) and ltc 0.02 (approx 0.6$), can you lower ltc fee to something like 0.1$ like btc?

No. These fees apply to us for every transaction as well, so we are passing them on to the user. That's normal.

[ajw7989]

with these crazy swings you guys should probably buy less ltc and btc this way the price adjusts accordingly. THe price per minute has been halved for ltc due to these swings that you guys pay

[CoinByCall]

with these crazy swings you guys should probably buy less ltc and btc this way the price adjusts accordingly. THe price per minute has been halved for ltc due to these swings that you guys pay

I always buy 1-3 days worth. I think that's reasonable.

[katie.mckinley]

I'm currently unable to get through to any of the numbers, I have tried on my normal phone and on skype, neither will go through