Topic: Bitcoins are pretty expensive - page 2. (Read 2509 times)
Ease of getting money to the exchange: cash bank deposit and rough time to market of ~ 1 hour with 0 fees. Best at MtGox is wiring money with a > $10 fee for time or dwolla with a $0.25 fee and an initial 30 day wait for price.
How many coins? We offer below market prices to large buyers (see sig).
If you need a few coins and need them right now, BitInstant is likely your easiest and most direct option.
If you want to use an exchange check out bitfloor.
If you need a few coins and need them right now, BitInstant is likely your easiest and most direct option.
If you want to use an exchange check out bitfloor.
You recommend bitfloor over mtgox? Why?
To understand the price its probably a good idea to have a look on other financial instruments, for this example i take stocks.
(a share traded with a high dollar value might still be cheap, a stock worth tens of a penny could be worth not even the paper its printed on, ie completely overpriced, look on penny-stocks, many are worth nothing)
http://www.investopedia.com/terms/m/marketcapitalization.asp
Also to consider:
- electricity costs of mining
- equipment to mine
- running costs, exchanging parts
- time spent on mining that might need to be compensated
(a share traded with a high dollar value might still be cheap, a stock worth tens of a penny could be worth not even the paper its printed on, ie completely overpriced, look on penny-stocks, many are worth nothing)
http://www.investopedia.com/terms/m/marketcapitalization.asp
Also to consider:
- electricity costs of mining
- equipment to mine
- running costs, exchanging parts
- time spent on mining that might need to be compensated
If you want to use an exchange check out bitfloor.
Bitfloor is who I'd recommend, with bitcoinsdirect being a better option for large orders. Either one boils down to cash deposit at a bank branch.
How many coins? We offer below market prices to large buyers (see sig).
If you need a few coins and need them right now, BitInstant is likely your easiest and most direct option.
If you want to use an exchange check out bitfloor.
If you need a few coins and need them right now, BitInstant is likely your easiest and most direct option.
If you want to use an exchange check out bitfloor.
If you're buying them to spend immediately, then no. Prices are still being determined dynamically in fiat by most merchants. Spend away!
What does that mean? Are you telling me the price of Bitcoins change so frequently that the value is unknown?
I'm not that smart, but that doesn't sound like a very steady or trustful currency to use.
I was looking forward to buying some bitcoins because a friend had told me they were around 5 dollars a coin.
10 dollars now!?
IMO both $5 and $10 are low prices for something that is 1/21000000th of an entire economy
and as pointed out, if you buy them to spend right away you get dollar for dollar in buying power
If you're buying them to spend immediately, then no. Prices are still being determined dynamically in fiat by most merchants. Spend away!
What does that mean? Are you telling me the price of Bitcoins change so frequently that the value is unknown?
I'm not that smart, but that doesn't sound like a very steady or trustful currency to use.
I was looking forward to buying some bitcoins because a friend had told me they were around 5 dollars a coin.
10 dollars now!?
It means if you're buying them to spend, they will buy 10$ worth of goods while they cost 10$.
If you're scared off from investing in a commodity because the price changes, you don't understand finance enough to invest. Avoid it.
If you just came here to bash bitcoin, then goodbye.
Bitcoins have a limited amount, the more people and money that gets put into bitcoins, the less coins per person and the more money per coin
That's how I see it anyway, I'm not a finance expert by any stretch
That's how I see it anyway, I'm not a finance expert by any stretch
Why are the bitcoins so expensive?
Does the price of them rising matter with the product bought with them?
Does the price of them rising matter with the product bought with them?
You should've checked out BTC prices a few days ago, they peaked at ~$15.40 (USD)!
You can check approx. prices at mtgox.com.
If you're buying them to spend immediately, then no. Prices are still being determined dynamically in fiat by most merchants. Spend away!
Why are the bitcoins so expensive?
Does the price of them rising matter with the product bought with them?
Does the price of them rising matter with the product bought with them?
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