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If I use my Canadian Credit card to buy Bitcoin, will I be charged a USD conversion?
I saw that they are adding Canada support for the VISA debit cards so I signed up. I connected my credit card and was going to buy some BTC and the spread looks great. But when I purchase, will it charge me in USD and I'll get a conversion charge from my Credit card?
Hi, I'm new to Bitcoin, and thought I had this figured out but guess not. I created an account on Coinbase. Bought something from someone for $40, their currency is USD, I am CAD. I even asked seller, that I don't need to worry about different currencies with bitcoin, and he said yes, and accepted payment, no issue. So my undestanding was you convert to your currency when you withdrawl... Now I'm buying something from another person, sent by Bitcoin, but now they are saying they can see the transaction and it is showing as CAD. So how does this work, as the buyer, do I have to figure out what USD to CAD is myself, and then buy and send that amount in bitcoin? EX: 100 usd = 120 CAD. I have to buy and send 120? I can't seem to find any info to confirm. On coinbase, when I try to send money, I can only pick between $ and BTC. Thank you
Another post about Dogecoin price drop and other stuff.
About 5 days ago our dear shibe +emester posted this topic, but it's gone unseen. I want to fix this unpleasantness and show his post again in the light of latest price fluctuations. I think some fearful shibes need to read this to ensure that we are on the right way. So here we go:
I'm mostly a lurker here...but I might participate more in the future. In any event I appreciate the info I get here. I stumbled upon Bitcoin back in mid to late 2010. You could still solo mine if you had enough horsepower back then and find blocks. When the difficulty started to increase significantly in 2011, I moved to a pool, and continued mining. I did ok because I never spent them, but gradually cashed them in over the last few months. Bitcoin back then was really worth nothing compared to USD until the difficulty spiked. Once the difficulty spiked and it shot up to about $35, many people sold and the market tanked. I used to lurk the various Bitcoin forums back them, mostly for mining info. In those forums you could never avoid the nonsense libertarian, faux-economist, Austrian economics, Ayn Rand stuff, so I never participated. I felt like if I participated there that I would experience the equivalent to some old man yelling at me to "not walk on his grass." I think some of you know the vibe that I'm describing. That stuff was always a huge turnoff. It's not fun and it just starts a bunch of arguments that no one ever wins. My point is, lurking the Bitcoin forums back then you would see much of the same despair that I see in the DOGE subreddit. Rather than buying more, many people sold 1000's of coins at really low prices, and regret it. I wish I had bought more back then, but honestly I never trusted Mt. Gox, which was the main exchange in those days. I was looking back in some old emails and I found the notice from them about the breach that happened in 2011... Just to be clear. I've never mined nor held any other alt coin. I've never felt that any truly offer much other than a gimmick. What I really like about DOGE is the inflationary aspect of it. I always felt this was one of the weaknesses of Bitcoin. It's too much like gold, and one of the reasons that fiat is not based on gold is because it limits how quickly an economy can grow. Built in inflation will drive spending, which will drive adoption and increase value. I recently sold my remaining 30 bitcoins, and I have about .5 left. I withdrew a bunch to USD and converted quite a bit to DOGE. I really think bitcoin will always be around, but the bitcoin to USD conversion has no floor at the moment. Personal opinion not based on any hard facts or evidence. We have many more ways to SPEND DOGE than I recall there being for BTC at the same point in cycle, and much more abundant and secure exchanges. Our main way to spend DOGE isn't on illicit goods, which will be an association that is forever difficult for Bitcoin to shake. We have people actively building useful services around DOGE. For example, I know some of you complain about EZDOGE's "fees", but in the grand scheme of things their fees are nothing compared to how quickly that can be used to get small amounts of DOGE in everyday users' wallets. I'm not a shill for them, and I have made purchases to support their service. I think DOGE will follow a similar pattern to Bitcoin, once the difficulty and adoption increases. So from one shibe to others, don't flip out and sell low, you will regret it when the USD to DOGE value recovers. Also, when I see people say that DOGE value will always be pegged to Bitcoin value, I strongly disagree. It might functionally appear that way now, but there is nothing that requires that DOGE is pegged to any currency, bitcoin, USD or whatever. DOGE will succeed through a vibrant and active community of users who rather than horde DOGE, spend it. Edit: for errors, at least the ones that I found...
My proposal for an eBay for Bitcoin? Want it made?
Hey guys, longtime Bitcoin fan and owner here. I’ve been thinking about some features Bitcoin may be missing that could grow the platform further into every day society. I came to the conclusion that a goods-for-Bitcoin trading market is needed. I am actually shocked that there is not already a successful and productive eBay system available for Bitcoin. It seems like a no brainer. However, further investigation revealed one of the major flaws: anonymity. It would be hard to create a system like eBay that uses Bitcoin instead since it would require complete trust and compliance on both ends in order to work properly. People could easily sell an item and then never actually send the product in complete anonymity, thus never getting caught. Reversing the payment order would just mean people would receive the item and then never pay for it. However, in this case an address would at least be provided to the seller. An advantage of Bitcoin becomes a disadvantage for the market. The solution I have come up with is to create a middleman system. The buyer wins the bidding. Then, he/she deposits the specified amount into a “middleman” account provided by the market(i.e. website). The market confirms that the Bitcoin has been deposited and is the correct amount. The seller receives confirmation of this and sends the product. Here’s where it gets a little hairy. The idea is to make a system where once the buyer receives the product, they can confirm it and the Bitcoin is deposited into the seller’s account from the middleman account. Now, there’s absolutely no reason the buyer should not confirm the product’s arrival since they cannot keep the Bitcoin. However, there’s always those kinds of people who would not confirm it just to screw the other person. I’m thinking have a plan where there is a fallback system which automatically sends the seller the Bitcoin within 30 days. The seller would have to confirm that they have sent the product and the buyer would get like 5 days to prove they did not receive the product in case they didn’t. There are still many problems here but you get the point and they can be solved later. Another problem would be whether or not to adjust for the Bitcoin to USD conversion rate during a bidding war. With Bitcoin’s volatility being well-documented, people could dramatically over or under pay by the end of the bid war. Personally, I don’t think this would be that much of an issue for most products, the only trouble would be expensive items. What do you guys think? Is it cool that you could possibly spend less on an item because the conversion rate shifts? Or would it be better to have a fixed Bitcoin price for the duration of the bid war? There are still countless other problems that need to be laid out but I think this could really work. I know there are other small markets available but I want this to be a real, trustworthy system. I think it would make the Bitcoin platform more appealing and useful for the average person. What do you guys think? Would you want to see this made? If so, I will be needing a lot of help because there will be a lot of web design required along with security work. Hopefully, we can get a team together. I am currently working on the UI design. Let’s make this a thing Reddit! EDIT: TLDR - OP wants to make a Bitcoin exchange where it's possible to buy and sell products using Bitcoin via auction bidding like eBay.
tldr: I made an iOS bitcoin-to-USD conversion app; the link is below, and I am accepting your input/feedback. Hi bitcoin community. This is a shameless plug, as well as me sharing my creation with the community for feedback and support. All the bitcoin-to-USD apps on the App Store are more complicated than they need to be. I wanted an app to just plug in some numbers without having to think about how to use the app. So, with that being said, I made that ideal app (two large input fields; large text; obvious functionality; no frustrations when using it). I am looking for feedback on the current app. I refuse to compromise on any changes which get in the way of the prime directive: incredibly easy to use from the first second of using the app. Here are a couple things I intend on adding as I come up with ideal implementation details and/or time. - more currencies (not just USD) - support for other exchanges' rates - multilingual - possibly a configurable bitcoin history chart Is there anything you would like to see in the app? Any other feedback? Thank you, Reddit. iTunes link to BTC Convert, iOS 5.0 and up
Is it wrong to do a USD/Bitcoin conversion on the spot while getting a traffic ticket?
Whenever a police officer writes me a traffic ticket, I ask them how much it'll cost, and usually they say you know, like $200. So I would say, "Hmm, so that's 1/40th of a bitcoin? I can spare that...". You don't think a police officer would find that rude if I did the conversion on the spot, do you?
Highest net output method for conversion of Litecoin to (a) Bitcoin, and (b) USD?
It's time to rebalance my portfolio, which includes rebalancing within the cryptocurrency portion of my holdings. I don't need to move much around, but one thing I need to accomplish in the next few days is changing a few thousand dollars worth of Litecoin to Bitcoin, and (separately) changing a few thousand dollars worth of Litecoin to USD. What safe and easily accessible platform(s) will offer me the greatest net value for Litecoin, specifically in exchanging LTC to BTC and to USD? (Of course, I'm interested in highest net output, so I have to take into account fees, including - if applicable - fees to move the relevant LTC to the platform. About a year ago I saw one exchange offering high sale prices for BTC... but charging more than the difference in exchange onboarding fees. Sneaky.) Let's see if y'all know how to do anything aside from write moon prediction stories :) *For the record, I will continue to hold a significant quantity of Litecoin after this move. Thanks for your help.
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How To Convert Bitcoin Vault To Bitcoin then Withdraw to ...
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