Bitcoin Fee's

[Skull]

Does bitcoin charge you a certain percentage on the money you put into it? If so how much?

 

[calvare2]

For circle, i don't think so, but for transfering to another person, yes.

 

[ruckin]

From what I understand, you choose how much of a "fee", which is almost like a tip, you want to pay, which goes to the miners who process your transaction. The higher the fee you choose, the faster your transaction goes through. So it's up to you.

 

[Skull]

From what I understand, you choose how much of a "fee", which is almost like a tip, you want to pay, which goes to the miners who process your transaction. The higher the fee you choose, the faster your transaction goes through. So it's up to you.

I've read that somebody said as soon as they put like 3 or 400 in it dropped automatically 30 or $40. That is what I'm wondering about?

 

[Bender83]

I've read that somebody said as soon as they put like 3 or 400 in it dropped automatically 30 or $40. That is what I'm wondering about?

I think what you are referring to here is the volatility of BTC's value. You could go buy 1 BTC for $100 right now (I know that is not what they are currently worth but just using it as an easy number), and in an hour the value of BTC can go down to $80 so you lost $20.

 

[Skull]

I think what you are referring to here is the volatility of BTC's value. You could go buy 1 BTC for $100 right now (I know that is not what they are currently worth but just using it as an easy number), and in an hour the value of BTC can go down to $80 so you lost $20.

Will they keep taken more an more the longer its in their?

 

[Kinikuman]

Will they keep taken more an more the longer its in their?

It could go down or up depending on the exchange rate.

 

[Skull]

It could go down or up depending on the exchange rate.

Its going to fluxuat no matter? How are you going to know exactly what to put in there?

 

[Bender83]

Its going to fluxuat no matter? How are you going to know exactly what to put in there?

Yes. BTC price is constantly changing. Think of it like the stock market.

If the place that you buy bitcoin from has a waiting period on the purchase (coinbase is 4 BUSINESS days unless you have fulfilled the criteria for an instant buy) then it's probably best to buy more than you need just in case the value goes down before the transaction clears.

I bought about $75 more than I needed because I wanted to make sure that when I was ready to spend it, I didn't have to wait for another buy transaction to go through if I was short.

 

[MassTurk]

If you follow the market for bitcoin exchange rates it was around 980 about a year ago. It's been declining for a very long time. What goes down , will soon
Come up . It may never go back up to 980 but most likely won't go much more down eather

 

[Bender83]

I really wish I would have gave a shit about bitcoin and mined some of it when it first came about. It would have been amazing to be like those lucky few that mined a few hundred or thousand coins and then forgot about them until BTC hit 1k.

 

[Skull]

I really wish I would have gave a shit about bitcoin and mined some of it when it first came about. It would have been amazing to be like those lucky few that mined a few hundred or thousand coins and then forgot about them until BTC hit 1k.

Well we live an we learn. Like the old saying goes...you dont miss what you never had! You know what I say? What a crock of shit!

 

[MassTurk]

It's at its lowest this year and still going down. Microsoft just announced they will use bit coin as an excepted form of payment at Xbox live. I will propably make a small investment soon.

 

[Bender83]

Well we live an we learn. Like the old saying goes...you dont miss what you never had! You know what I say? What a crock of shit!

Lol, totally agree bro.