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Author Topic: [ANN] Getting what you ordered, a new setting for traders.  (Read 841 times)
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March 02, 2012, 08:28:11 AM
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https://mtgox.com/press_release_20120302.html

TOKYO, JAPAN - March 2, 2012 - Today Mt.Gox is happy to announce the launch of a new setting for traders that will enable them to pay their buy order's fees in a traditional currency.

Until very recently all buy orders had trade fees included in the order, meaning that the total amount of Bitcoins traders intended to purchase weren't what was received as the final payout. With today's new setting traders can now choose how they want their fees for buy orders applied; fees can be taken directly from a traditional currency wallet (EUR, USD, JPY, etc.) or taken in Bitcoin as per usual. The benefit of choosing to take fees from a currency wallet is that you will receive the exact total of Bitcoins you intend to purchase.

E.g. If you select "Fees taken from cash balance", and put in an order for 10 BTC @10.00 USD each, you will receive 100 BTC in your Bitcoin wallet as the payout (whereas before it would be 99.4 BTC)

Also please note that if there is an insufficient cash balance to cover the fees, they will taken from the total amount of purchased Bitcoin (as per usual).

In order to take full advantage of this new feature, please go to your account's user settings page by clicking your username, and see the “When paying trade fees” option in the preferences section.

Regards,
Mt.Gox Co. Ltd Team.

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March 02, 2012, 09:28:38 AM
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... put in an order for 10 BTC @10.00 USD, you will receive 100 BTC in your Bitcoin wallet...

Pay for 10 BTC, receive 100 BTC. Cool!  Wink
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March 02, 2012, 09:33:46 AM
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... put in an order for 10 BTC @10.00 USD, you will receive 100 BTC in your Bitcoin wallet...

Pay for 10 BTC, receive 100 BTC. Cool!  Wink

10.00 USD Each ;-)

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March 02, 2012, 03:11:01 PM
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+1

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March 02, 2012, 03:34:52 PM
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do you mean if you sell 10BTC for 10USD each you will get 100USD
or if you buy 10BTC for 10USD each you spend 100USD

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March 02, 2012, 03:58:52 PM
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...put in an order for 10 BTC @10.00 USD each, you will receive 100 BTC in your Bitcoin wallet as the payout...

How long are you running this special?

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March 02, 2012, 05:08:58 PM
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...put in an order for 10 BTC @10.00 USD each, you will receive 100 BTC in your Bitcoin wallet as the payout...

How long are you running this special?
it's not fee free. You still have to pay fees, but it's deducted from the USD account, rather than the purchase.

It is pitch black. You are likely to be eaten by a grue.

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March 02, 2012, 05:15:13 PM
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...put in an order for 10 BTC @10.00 USD each, you will receive 100 BTC in your Bitcoin wallet as the payout...

How long are you running this special?
it's not fee free. You still have to pay fees, but it's deducted from the USD account, rather than the purchase.
He's being humorous. But so far several people have missed it...

10 BTC @10.00 USD

results in either 10 BTC (buy) or 100 USD (sell) but unless there's a special going on you wouldn't end up with 100 BTC under either circumstance.

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