51–54 of 54 posts
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A lot of Bitcoin holders bought/mined them at much lower prices than current $100. Compare this 7% premium when buying things to a potential 20-30% capital gains tax you'd have give up when cashing out via exchange.
BTW, you probably still owe capital gains tax when you buy something with Bitcoin.
Earlier quoted context omitted.
That's the currency exchange rate he is offering not a transaction fee. The bitcoin transaction itself is free
Except if you actually read the linked page it says that it's at least partially due to the 7% fees have to deal with when converting the BTC back to sterling, which is all they're really interested in. Add on whatever fees you pay to get hold of the BTC in the first place and you have quite an expensive system.
It's a pity that they're still pricing the drink against a fiat currency (in this case, Sterling). I look forward to a day when I'll be able to pay a consistent 0.05/0.1 BTC for a pint.
> I look forward to a day when I'll be able to pay a consistent 0.05/0.1 BTC for a pint. The value of a bitcoin will have to become less volatile before that day comes. Compare: http://blockchain.info/charts/market-price With: http://en.wikipedia.org/wiki/File:U.S._Dollar_Index.png Yes, the value of the dollar also fluctuates, but over 30 years it has ranged only around 30%. Whereas bitcoin has ranged 4000% in a sing…
Earlier quoted context omitted.
Except if you actually read the linked page it says that it's at least partially due to the 7% fees have to deal with when converting the BTC back to sterling, which is all they're really interested in. Add on whatever fees you pay to get hold of the BTC in the first place and you have quite an expensive system.
of course, there really is no need to pay fees to exchange BTC for GBP. Posting a sell ad on bitcointalk.org is likely to net you someone who will take them off you for between 2 and 5% above mtgox daily average.