Silk Road forums
Discussion => Security => Topic started by: seuss on March 23, 2012, 08:01 pm
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Say I want $170.00 in bitcoins. What would be the amount I should give in case the bitcoin value changes? An extra 5-10 bucks? By how much does the value change per day normally?
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Say I want $170.00 in bitcoins. What would be the amount I should give in case the bitcoin value changes? An extra 5-10 bucks? By how much does the value change per day normally?
depends on what funding option your using you really should be more worried about how much in fees you will pay to get your coins. Typically your not going to sit on coins for long. You buy them and transfer them to sr and make your purchase normally with in an hour or two. Its not good to sit on coins unless your buying and selling them. $10-15 will always cover then fees with the system I use but check into what your using.
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See mtgox.com or bitcoinchart.com, lately its up/down around .5 BTC -> USD throughout the day. (+/- 10%)
If you use BitcoinFog to mask your BTC thats 1 to 3%
BitInstant / GetBitcoin charge you 5% or so, if you use BitInstant you then also have to pay MTGox fee or whoever you use (~1%).
So if your really unlucky expect 5%, then 11% then 3% off whatever you put in. (Likely you wont be that unlucky)
MoneyPak vendors can be shakey and around here usually 10% or more.
This is why bitcoin's such a better currency then credit cards which merchants off like .25 + 0.5 to 2% per transaction. ::)
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i was aware of the fees of buying the bitcoins, i was thinking of going with get-bitcoin. is bitcoinfog necessary? i thought SR automatically mixed the bitcoins. anyway i basically should add around $15 to the amount i want in case i get screwed with the 10% variance, right?