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bitcoin confusion

jlm25

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Jul 21, 2012
Messages
552
Hey, I'm fairly new to using bitcoin, and a question about it. When I purchased say 3 bitcoins for 300.00 but when I go to send the 3 bitcoins the amount I'm sending is less then 300.00 USD. Why is that?
 
I don't know too much about bitcoins either but I was under the assumption that it's value changes. Not so dramatic as my example but you may buy one for $300 and the next day it could be worth $200 or $800 the next day
 
The value of Bitcoin in relation to the dollar is constantly changing. Just like the exchange rate between any other forms of currency.
 
+ bear in mind that many transfers relating BTC are subject to fee, for example exchangig or mixing.
 
+ bear in mind that many transfers relating BTC are subject to fee, for example exchangig or mixing.

That is the first thing that came to my mind. I would think you are paying some sort of exchange fee, because they don't offer the service for free.

I am like the OP, I don't know anything about bitcoins but would like to understand it more. The whole farming for bitcoins is really interesting. I guess people that got in early on the mining made a lot of money if they had the computing power.

You might want to post this in the technology forum here too.
 
+ bear in mind that many transfers relating BTC are subject to fee, for example exchangig or mixing.

I think this is what happened to me. I was speaking with a sponsor about it to help me and I incurred a +100.00$ fee. Frustrating, but everything is a learning experience. Although I do prefer the free lessons lol.

Maldorf, I will post this up in the tech forums, thank you for the idea!
 
bitcoin price swings a ton.
You need to convert the cash to btc, into your wallet, then move that shit asap. I also add in a bit extra so i dont come up short on the fluctuation. Say 100$ of product i want to buy i'll do 110+$.
I always pay a bit more for the faster transactions. Less time for something to drop.

here's a current ticker of btc prices.
Bitcoin Price Index - Real-time Bitcoin Price Charts
 
this is one of the sites.
if you see the graph it is the price of a bitcoin as it fluctuates during the day.
Bitcoin Price Index - Real-time Bitcoin Price Charts
you can change it to week month all to see previous prices.
Price can be very volatile to avoid this if you want to take some risk out buy bitcoins as you need them and speand just as fast which usually takes a minimum of a few days. or you can have them in different wallets that are cash.
There is a fee when you sell 1% which is small compared to WU or MG....
Another plus is it is instant once you decide to send Bits the person gets it in there account the second you press send... transaction done.....


Peace
 
this is one of the sites.
if you see the graph it is the price of a bitcoin as it fluctuates during the day.
Bitcoin Price Index - Real-time Bitcoin Price Charts
you can change it to week month all to see previous prices.
Price can be very volatile to avoid this if you want to take some risk out buy bitcoins as you need them and speand just as fast which usually takes a minimum of a few days. or you can have them in different wallets that are cash.
There is a fee when you sell 1% which is small compared to WU or MG....
Another plus is it is instant once you decide to send Bits the person gets it in there account the second you press send... transaction done.....


Peace

It definitely saves a lot of headache, and quite a bit of money compared to WU or MG fee. And that's without talking about the possibility to get block and not know it...

**************
 
Last edited by a moderator:
Darius has a good step by step BTC how to on their site. Helped alot.
The price just really spiked and someone...not me....made some cabbage.
 
Hey, I'm fairly new to using bitcoin, and a question about it. When I purchased say 3 bitcoins for 300.00 but when I go to send the 3 bitcoins the amount I'm sending is less then 300.00 USD. Why is that?

Hey bro , if you use the circle app you can send USD and it will arrive in their wallet in bitcoin format. Very simple to use and you don't have to worry about market fluctuations of bitcoin, no fees, and there is an app for your phone it's circle pay. Any questions feel free to pm me
 
There is no fee to receive bitcoins, and many wallets let you control how large a fee to pay when spending. Most wallets have reasonable default fees, and higher fees can encourage faster confirmation of your transactions. Fees are unrelated to the amount transferred, so it's possible to send 100,000 bitcoins for the same fee it costs to send 1 bitcoin. https://bitcoin.org/en/bitcoin-for-businesses
 

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