Amagi Metals, a US PM dealer who has accepted bitcoin payments for a year now has posted this info... https://bitcointalk.org/index.php?topic=130831.msg3795564#msg3795564
"We received very close to $1 million dollars in just bitcoin sales over Thanksgiving" Well I never!..Does Peter Schiff accept Bitcoins yet?. It might be good for increasing his gold sales.
"we don't accept credit cards because fees"....gee that's too bad Pete. I'm not sure that "we don't accept money" is a good way to run a business.
Card fees chew a fair portion of a low markup. Many retail products have markups of 50-100% like coke and mars bars etc, not such big margins on metal products to absorb costs perhaps?
Oh definitely, I agree, and I can't actually fault him for not accepting cards. It just seems a bit ironic, considering his repulsion to bitcoin. That $147m bitcoin transaction the other day paid zero fees. Haha Trew. Yes, very lovey dovey indeed. I noticed the other major pm/btc retailer didn't release any figures, but definitely seems to be in a quite loving mood too.
Thank you for the good words! Unfortunately Peter Schiff is vehemently opposed to bitcoins. We actually accept more bitcoins than almost any other retail business in the world! It's so great to see that people who love bitcoins, also love gold and silver. We love the bitcoin community and look forward to serving the community for many years to come.
Not really, to buy BTC in the first place most people have to pay a fee as well as a premium. Edited because I'm not sure that is totally correct.
The circumstance of the entry point into BTC market is unknown and potentially subject to ones connections. People with large amounts of wealth are more likely to have some good connections. The point is that the transaction had zero fees. How else could the transaction be performed in that manner?.
So if it is point in time you want to discuss then cash, direct bank deposit where there are no fees.
I think Peter Schiff summed it up well when he said, If both parties want BTC then yes the transfer fee is zero (or close to) If only one party wants BTC then there is also one exchange fee If both parties don't want BTC then there is two exchange fee's I think it's only a matter of time and better software before more and more people would rather just keep the BTC. Like when the internet started you didn't get much out of a website advertisement compared to yellow pages, now you have to ask yourself if you would even bother with yellow pages anymore.
Peter Schiff's potential loss, is your potential gain, so enjoy the profits. To his credit, Peter displays more understanding about Bitcoin as time rolls on. Many gold and silver stackers would rather support Fed issued fiat and support bankers via fees. Maybe it is a love-hate relationship??? I dunno?. Precious metals encountered a bumper year for sales in 2013. American Eagles and Canadian Maples (surely too) has record sales. Despite this, some silver stackers blame crypto-currencies for silvers performance. The delusion is a shame. Silver and gold have some similarities with Bitcoin so it is not surprising. Bitcoin's utility in the worlds 21st century market place sets it well apart from silver or gold though. Bitcoin is becoming increasingly useful for day to day utilities (early days though). As Bitcoin grows, additional complimentary utilities will improve. It's great to see your business is enjoying a great relationship via users of Bitcoin. Myopic opponents of Bitcoin get stuck at speculation and volatility, whilst meanwhile, various businesses are already enjoying benefits from Bitcoin users. Beyond, great saleshave you encountered any benefit via lower transaction fees at this point?.
These coins are easily converted to Bitcoins. What coins do you have trew?. ..or is this just trolling? If you have no idea about Bitcoin ATMs then????????????????????????????? *Amagi Metals accepts Fed Fiat is that suits your preference. Maybe you would like to troll Amagi Metals on that too?I doubt it
Not trolling just trying to figure out the market difference between bitcoin and other crypto currencies. I have a tiny amount of doge and cat coins but not enough to buy anything with. I really would be interested to hear what amagimetals has to say, as a front line merchant actually accepting bitcoins. As far as they are concerned, are bitcoins the only game in town or are other coins potentially on the horizon ?
Just convert them via an exchange to Bitcoin. It is simple enough. What people don't understand is that Bitcoin has lots of infrastructure around it and it is growing. The smaller alts don't come close.
I just came across this older video of regarding Peter Schiff and Bitcoin from February 2013. It is worth a look, IMO. [youtube]http://www.youtube.com/watch?v=JfC_9ZMOWPw[/youtube]
So you don't think the guy could have learned anything more about bitcoins between February and now ?
Absolutely YES100%. I've been watching Peter's progression and generally admire his work. (my from posting #12 in this thread). I applaud Peter's progress, although find his inability to apply various arguments he throws at Bitcoin back at the very PMs he sells as a worry. I've talked about this on other threads so I'm not prepared to break down the arguments here.
