Written by Thonind on . Posted in
June 27, 2017 at 2:02 pm #1878
It seems to me that I am going crazy here and I can’t go like that anymore, that’s darn too painful for me to understand or to try anymore to understand. Well, I already went through a tons of headaches trying to understand and to finally manage to buy some of those bitcoins (which I have heard a million times that it is extremely easy to purchase them, wouldn’t actually agree with that). But anyway, in the end I did and I have purchased $ 39 of the AU in bitcoins, so well, when I have googled the exchange rates of my sum I have been showed that this is as 0.01389 bitcoins.
Then later I have finally managed to send those bitcoins to that place where I have intended to make a purchasing using them. However then the unelectable happened… I have been able to send only 0.00788 of them as this, apparently, has been my balance… I mean… what? Wtf? That’s nearly half of the balance that I’ve been thinking I have. That was such a shock for me because when I have went to the place in order to finally make my purchase, which has been in USD, I have then realized that I am having only 0.00688 bitcoins… wtf?? When I was there I have realized that the item that I was looking for has been $ 15 US which means that it was literally just 15 or so CENTS more than what was my bitcoin balance amount which has been in USD, and which has been approximately to $ 20 of AU $. But it was not the $ 39 AU that I have actually purchased and as you can see, that’s nearly half of that! One sure thing is that AU $ 39 it is now US $ 29 (and some cents, if you google it) but definitely not US $ 15.
I just can’t understand what has happened and where are my rest $ 14? Where they have disappeared? I mean, nearly half of the amount I purchased bitcoins for, disappeared?!?!June 27, 2017 at 2:10 pm #1882MapleBParticipant
Well, look, right now you just can wait like 10 – 15 minutes and you might already have those 15 cts more that you need for purchasing that item that you want to purchase and that’s because the bitcoin has such a potency of really growing up or getting down in a matter of a few minutes. Therefore, if you lack 15 cts, the next 10 minutes you might lack $ 2, or having $ 2 more, obviously there are sites which show such data, like for example you can go on coindesk for the real time data and you can follow whether does it go up or down.
But here are some very important things here for you to learn, pretty much as for everybody else out there who are newbies to bitcoins – you need to ask your bitcoin vendor for the exchange rate and not google, that’s because, pretty much as you have already seen this yourself, I guess, the difference can be really big. There are vendors, of course, that have exchange rates close to google, others that are far away from it, like the way you have found. In additional to that, you really need to ask your vendor too in case there were some extra fees which is quite possible to be. this is all very important.
I personally have never had any experience like the one that you have had and that’s really sad, hopefully you won’t ever get through anything similar, however, to be honest with you, I have never purchased as low as 0.01389 bitcoins ever in my life, not sure if that has to do anything with the amount that has disappeared but I think so because I can’t imagine you purchasing bitcoins worth $ 1000 and you only get say $ 550… and I never had anyone else complaining that half of the amount they purchased bitcoins for to disappear….June 27, 2017 at 2:25 pm #1885ClandioughParticipant
wow that’s indeed really sad… and I do understand your frustration. But as it has been said up there by the other person about something like this, me either, I have purchased some coin when they were really dirt cheap, I just keep on making some pretty small buys, the value is going up and I am still having more value in the coin than I originally have paid… lately it does seem to be plus or minus stable, but it is still floating around, pretty much as any other currency out there, I just guess that bitcoins fluctuates more since 1 bitcoin is expensive. Whatever the case, the other user is right on the fact that it can either go down or go up, however from analyzing the current market and the way it went up in the last months, if you wait say 1 hour, most likely you would have more than those 15 cents you need. Half a year ago one bitcoin was like $ 600 – 700, now what’s its price? $ 2300 – 2400? Amazing growth if you ask me in such a time frame.June 27, 2017 at 2:45 pm #1887
Well, in regards to the part that I have purchased a really really small amount of BTC, yeah, I do know this and I do realize that there might not be many people like me purchasing this small amount, however I only wanted to test out by purchasing from this one place and for that item that I wanted to get I only needed a small amount of bitcoins, but then again, this was most likely like an experiment or something in this matter. and in addition to that, I purchased nearly 100% as much in bitcoins than I needed because initially I thought to buy exactly the amount that I needed. I realized that there must be some fees and that’s why I purchased more, but couldn’t think the fees would be nearly 50%. Anyway, in the end I just have to say that I think the exchange rate has been terrible proposed by the vendor and I haven’t noticed that, as it was suggested up there. lots of those vendors are already ripping off people’s money, now they rip you off with the help of BTCs. They try doing it whatever the way the can…June 28, 2017 at 4:14 am #1913
well, yeah, the bitcoin did went up but I just still can’t place my order for my $15. The google exchange rate that I just have checked says that it went up showing that it is more than $15, however it still won’t even let me purchase a US $ 15 item. Why would that happen? I just can’t understand how I can’t purchase something for $ 15 in bitcoins when I have more than this amount in bitcoins?!? Someone can give me an explanation please? Thanks for trying to help and understand this…June 28, 2017 at 4:50 am #1918ClandioughParticipant
I am not quite sure but it could be probably due to that you have not factored in your transaction charge, but that does takes a few cents off what you are having. Therefore you lack a few more cents. Waiting some more would most likely sort this out because BTC will most likely get up more and therefore it means that you are going to have enough of it. or at least I hope so. And hope you are going to get it sorted out ASAP.June 28, 2017 at 4:53 am #1919
Booh… there does seem to be so so many charges and all types of fees out there that whittle down my already feeble bitcoins… thank you all of your for your concerns and for trying to help me in figuring it out as it does seems to me that this is too hard for me to understand it all, lol.June 28, 2017 at 5:07 am #1920
so well, welcome there to the crypto currency money machine, pretty much just like the regular banks as well as wall street rape us, however only have far much more experience obfuscating it, and in addition to that, no government really wants to lose the total domination over all of the currency, and that that is why, they really do have significant obstacles out there. here are some explanation and several factors at play here: just yesterday I have purchased 156 $ worth bitcoins which is today, now, worth 165 and some cents $ (USD) – I have to say that I am using xedotcom as a base line which zero BTC exchange match). The exchanges: coinbase, at least in my personal experience, it is the easiest out of them all (wallet included, however they are tracking your every single move so an exterior wallet (such as for example electrum…) it is a must there and it is having the fairest exchange rate, with the cexdotio with the closest one to it, the next one, then coinmama is going to drain you like zee coke bottle. These ones are based on funding the joy ride with a US based CC.
those exchanges, miners…. Are in it for the what?? Yepp… it does costs you to purchase (there is a minimum fee and it does not matter what it is the amount that you are purchasing, like for example that one I just mentioned you about coin mama it is like $ 10 bucks anywhere up to 200 bucks or so (CC fee). Then there’s also their fee and also then there’s the miner fee to send it to you assuming that you want it mined like this week. there are a lot of things to learn and I hope this post would make you understand it all at least a bit better. All the best to you 😉June 28, 2017 at 5:24 am #1922
To be honest… all of this just blows my mind, as I said, this is all too complicated to me, I just guess that I am just way too dumb for this thing, LOL. you are definitely right about this, there are a lot of things to learn about it, and as I said, I guess I’m too dumb to learn it all. guess I can’t understand these currencies… anyway… I just have to say that I have purchased a few more and I did finally managed to buy my $ 15 worth stuff… but if you ask me… never again.June 28, 2017 at 6:02 am #1924ChestnutParticipant
Hey there everyone, I just have to say that I am new to this, however I am not that new to the bitcoin in general. I just have to say that it is a lot much more easier than I thought that it actually is when I have done my first purchase using the bitcoins. I don’t actually understand what it is so hard for you to understand OP. I doubt that you’re too dumb for it, I just can guess that you haven’t really tried to actually understand it, and in fact, there’s not too much to understand. What I do know is that it is a lot much more easier and comfortable so you’ve just gotta forget about WU or MG, bitcoin way of paying is SO much more easier and generally better.June 28, 2017 at 6:31 am #1926
I just can say that I used to think pretty much exactly the same thing but that’s all until I have started to dig more, to dig a little bit more deeper and to start to interact with the whole system etc. I mean, I am talking that I thought the same about this:
“Hey there everyone, I just have to say that I am new to this, however I am not that new to the bitcoin in general. I just have to say that it is a lot much more easier than I thought that it actually is when I have done my first purchase using the bitcoins. I don’t actually understand what it is so hard for you to understand OP. I doubt that you’re too dumb for it, I just can guess that you haven’t really tried to actually understand it, and in fact, there’s not too much to understand. What I do know is that it is a lot much more easier and comfortable so you’ve just gotta forget about WU or MG, bitcoin way of paying is SO much more easier and generally better. “
However, here is what I have gotten when I visited my coin mama exchange which has been mentioned above:
*Purchasing Bitcoins it is at the moment suspended because of the high volume. We are going to be back as soon as possible! Thank you for your patience. For more information, contact our support team.*
I really would be at coin base, however at the time I did not have the experience that they are following absolutely every single transaction that you are making and they are going to boot you without even noticing. Yes, there are also other exchanges out there that are allowing us CCs, however they are limiting the states, the countries, or charge some sky high fees (in fact, to be honest and to be fair, they are all doing this). but if thinking about this for a little bit more then you do realize that this, actually, it is not as easy and simply as you think or as it seems to newcomers when you are purchasing your first coins. As with anything else, you need to have knowledge, experience etc. as said up there, there are fluctuations of this currency (BTC), lots of fees, lots of wallets, miners, vendors (or whoever else accepts BTC as a payment method) and so on and so forth. there are indeed lots of things that you need to learn first for fully understand what you need to do and what’s required to do. I once have watched a 200 bucks purchase fluctuating from as low as 182-183 to like 225 – 226 bucks (approximately) in just one single day, at least according to the xe currency converter.
One sure thing is that you should not believe for any second that it is easy or that it is in any way a stable currency. Indeed approximately half a year ago it was around $ 700 or so and now is like $2450 according to google exchange rate, however what’s the guarantee that in next month it won’t get down to say $ 500? This is the reason why you shouldn’t, to my opinion, try to make ‘money out of it’ or purchase bitcoins thinking or/and hoping that it is going to grow like that. There’s always that chance that it will, it might hit $ 5000 per BTC, you never know, but then again, it might hit $ 500 again. With all of that said, my advice is to purchase only what you need right then at the moment and to some extent, such an amount that you can afford to say goodbye to.June 29, 2017 at 8:51 am #1972MapleBParticipant
I haven’t went to coinmama for approximately 3 weeks ago or so, but from as much as I remember, back then (3 weeks ago) they said: customers are only able to purchase bitcoins up to 150 USD worth of BTC!!! Wtf? I mean that surely sounds as if that’s a joke or something. The reason I say that is that coinmama it is one of the most expensive ways to purchase bitcoins and nevertheless, they are having an exchange limit of only $ 150. That’s such a joke. as if you want to purchase a house but thy accept only up to $ 500 per month. This is all super strange for me and this is why BTC is something that I never actually loved, I just realize that pretty much, this is what future holds for us. However at the moment I think that there’s just too many risks, maybe in the future these risks are going to get eliminated.June 29, 2017 at 9:00 am #1973
You know… this joke that you are talking about is getting even funnier when you are committed to use a CC which unlike a debit card, does not leave your liquid assets (say the bank) on the table. In case you are getting verified then most of the places are requiring that anyway which is requiring a scan front and back of your DL… that’s not such a big of a hurdle if you ask me so I am able to purchase 5,000 right now, I mean not today, but right this minute, if I had a psychotic break or something in this matter, for instance…. But please, don’t get me wrong and do not think for a single second that I am trying to defend those usury fiends out there… I definitely do not and I wouldn’t ever, however I just try to say that if you take coinbase of the rack (which by the way, it in no ways means that they do not drain you as you said like a coke bottle on every single tx, but believe they are requiring a verification which has been much more harder in case you wanted to get access to more than chump change), there is not very much, if anything, left. cex.io is taking CC they say until you give them your personal information, they say resident state it is not being eligible. In case you are thinking that you have a covert way of purchasing coins then you may be very well mistaken.
In addition to that, in case you would be so kind, please do share what kind of site does not charge those sky high fees, exchange rates in their favor that is making them be even more richer than they already are on every single tx and it is taking us CC’s in a state south of Georgia.
One last thing that I want to add here is that during that same time coinbase has went down as well! Crypto it is not what a person is looking at in case they want economic or stable or anything in this matter, I grew to recognize and realize as rational economics or business model, all of the Ponzi schemes out there aside.June 29, 2017 at 9:13 am #1977DonCSungParticipant
I have signed up for a bitcoin account the other day, however I absolutely did not loved and I did not send my personal information. Generally I do not like to send such information to anybody, but especially when we are talking about bitcoins, what’s the point out of these bitcoins then? Anyhow, the requires that information, like for example a driver license and so on and so forth but I refused and then later I have noticed that you are having the option of using a prepaid card, like for example as an Amazon or Wal Mart card and that’s without sending out all of the personal information so that seemed fined to me. later I realized why we have this option because it turned out that the exchange rate has been ridiculous, like for example a $ 20 card has only got me approximately $ 11 worth of bitcoins which as you can see, is nearly half of the money. I have a feeling that it all goes as following: you either share all of your personal information and you get plus or minus normal exchange rate, or you don’t send any information but nearly half of what you buy goes to them…June 30, 2017 at 9:07 am #1980MarkuSParticipant
Coinbase is the pits and from what I have heard, from different people etc. I know that coinmama it is actually as bad. I can remember as I heard somebody out there asking if there has been a site that does not put you through the wringer and to limit you to some kind of those ridiculous amounts after you have given them over all of your personal information so if answering to this question then yeah, actually there is such a site to be honest. That site is called localbitcoins com and I recommend you all people, if you do search for it, to be very careful when you are spelling if you decide to go and search for this and that’s due to the fact that there are a few scam sites out there that are having some similar sounding names. That’s always like that, when there’s a site that has grown there would always appear similar sounding sites/ companies etc. trying to scam people out so I just want you to be safe, your money. the good thing out there is that the only time when you need to show your ID or send any personal data information then that’s only if you are purchasing with CC, paypal, or some other kind of flaky payment method that could be reversed back. And I have to say that even then it is just up to the trader that you are dealing with. However in case you are doing the face to face cash deals then there surely is going to be absolutely nobody who knows you since you just hand cash and you are given your coins there. if you have dealers somewhere around (and that’s obviously much easier to find them if you are living in a metropolis versus a small town) then that’s extremely easy as you just give them the cash, you are getting your coins and you just walk off without any additional questions or anything in that matter. as in the terms of ‘limits’ I doubt that there’s anything that you should be concerned about because the limits on what you can purchase from the trader it is depending only on the trader, however they obviously don’t have stupid limits as $ 150 or such, they will typically limit you to somewhere under 10K or so and that’s because of the reporting requirements, but that is a sum that, at least to my opinion, is way more than enough. But even if that’s not enough then that’s still not a problem because if you really need a lot, more than that, then you just can come back the next day for more and voila.
And yeah one last thing, there is also paxful which, especially lately, tends to have more scammers, however I am quite sure that it is possible to do a deal there as well. Maybe this is going to help people.
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