It seems to me like you're using redundant steps in your conversion (read: Paypal). What is wrong with using a regular bank transfer? I know there are some problems with getting your bitcoins converted to USD, but that seems to be a temporary problem. Here in Europe BTC is easier to get every day now. My belief is that this widespread increasing availability of conversion opportunities is one of the causes of the recent search in the value of BTC.
If you find the convertion process to much of hassle, just wait a few months. It's just a matter of time before Bitcoins will be as easy (probably easier) to convert as USD/EUR.
Topic: Virtual Value (Read 348 times)
Only when you can exchange BTC to USD as easily as you can from EUR to USD will bitcoin become a true alternative.
The amount of hassle it took me a few month ago to obtain even 1 BTC using my debit card was absurd and the transaction fees involved were close to 10% (PayPal USD to VirWox to SLL to BTC) it also took numerous transactions due to the tiny limits allowed.
Now how do I sell my BTC and get hard currency quickly? BTC-e will charge me 7% for PayPal and I will have PayPal fees and there is no definitive answer to how long this will take.
I may have doubled my money in virtual terms but with the fees involved and the uncertainty I questioning if it really is worth it?
The amount of hassle it took me a few month ago to obtain even 1 BTC using my debit card was absurd and the transaction fees involved were close to 10% (PayPal USD to VirWox to SLL to BTC) it also took numerous transactions due to the tiny limits allowed.
Now how do I sell my BTC and get hard currency quickly? BTC-e will charge me 7% for PayPal and I will have PayPal fees and there is no definitive answer to how long this will take.
I may have doubled my money in virtual terms but with the fees involved and the uncertainty I questioning if it really is worth it?
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