CampBX screwing me over... | Bitcointalksearch.org

The00Dustin

hero member

Activity: 807

Merit: 500

Expanding on what Frankie said, assuming the numbers you posted are your entire amount of funds, and assuming you want to switch 100% to BTC, you will need to do the following math (math posted so you can see what I did if your numbers are wrong, and so someone else can correct my inevitable stupid mistake):

Your Money (your money commission for exchange)
341.18-(341.18*.0055)=339.3 after rounding

This means you can definitely exchange 339.3, note that you will only pay commission on the amount you trade, so there can be pennies left over because, for instance:

Your Money (Your Trade Amount + [Your Trade Amount commission for exchange])
341.18-(339.3+[339.3*.0055])=.01 or .02 after rounding depending on where and when

So, assuming you have 341.18 and can trade 339.3 plus commission, you need to do this math:
Amount of BTC to trade Sell price in order book = 339.3
So you do some algebra:
Amount of BTC to trade = 339.3 Sell price in order book
For instance, there is currently a sell interest of .95 BTC at $857, so plugging that in:
X=339.3/857
X=0.39591599 after rounding

So in this scenario, you could try to place a buy order for .39591599 BTC at $857, and as long as there is that much BTC for sale at that price or lower, your order will be processed, and then you will have BTC (and a penny or so, the lower the price, the more pennies left).

You can also try to place an order for a lower price, but it may not get filled, and the price may go higher. It's also possible that your order will match a dark order at a lower price and you will end up with more change, but you can presumably perform another transaction if the change is worth messing with the math to you.

If the lowest ask price is for an amount of BTC less than what you want to purchase, and you use that price for your math and order, your order will be partially filled and then sit open, where it may end up far off on price and you may have to cancel it and place another for the remainder. Depending on how much you care about the pennies, you could avoid this by doing the math on a higher ask price or by marking your order fill-or-kill (I think that works like all-or-none and wouldn't do a partial transaction, but I can't guarantee it, as I've never used it). If it didn't fill, then you'd still need to do the math again, though, so I don't think there's really any good reason to mess with fill-or-kill or be worried about a partial execution (since the commission is percent of transaction).

Frankie

full member

Activity: 206

Merit: 100

Uh, 341.18 USD (limit price) x 0.40705000 Bitcoins = $139.64 * 1.0055

This transaction would include $0.76 in commission, 0.55% as advertised.

You're never going to buy a bitcoin at $341 though, especially with CampBX's withdrawal problems. Their price is floating higher, like what's happened to Mt. Gox on a smaller scale.

I think maybe you are trying to buy $341 worth of bitcoins at the market rate? Keep the 0.40705, but put the buy price as something like $850.

opentoe

legendary

Activity: 1274

Merit: 1000

Personal text my ass....

They just deposited USD funds into my account there because their system is slowly going under. I really want to get that money out of there before they completely disappear and it's gone forever. How in the heck do I convert that USD that's in my CampBX account to BTC so I can send it out to my wallet? Apparently it's just stuck there and nothing I can do with it.

Please tell me this is wrong. I went to do a quick buy order with CampBX on the available USD funds in my account so I can get them out of there ASAP. I DO NOT understand 4th line.
"Total purchase price including commission is estimated at: $139.64"

Are you telling me they are going to charge me $139 so I can buy 0.40706 bitcoin? Huh

? How is this possible? I'm only trying to buy .40705 worth of bitcoin.

You are about to execute a Quick Buy order.
Purchase quantity is: 0.40705000 Bitcoins
Price will be 341.18 USD (Limit Price).
Total purchase price including commission is estimated at: $139.64
This order will be active for up to 99 days.

Topic: CampBX screwing me over... (Read 552 times)