[Question] Pandas for Bitcoins

Discussion in 'Modern Chinese Coins & Medallions' started by yennus, Nov 7, 2012.

  1. yennus

    yennus Well-Known Member Silver Stacker

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    I've developed an interest in the Bitcoin system, and was wondering:

    a) Anyone interested in paying for Pandas with Bitcoins (using the Mt.Gox weighted average)?
     
  2. jc888888888

    jc888888888 New Member Silver Stacker

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    can someone help me no idea what Bitcoin is
     
  3. jc888888888

    jc888888888 New Member Silver Stacker

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    ok googled it ........interesting
     
  4. yennus

    yennus Well-Known Member Silver Stacker

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    From my limited understanding.

    a) Bitcoin is a competing currency that is purely electronic.

    b) A single Bitcoin has an average fiat value of $10USD (@ Mt.Gox).

    c) A Bitcoin can be "mined" from PCs for a fraction of that amount ($10USD), or for a lot more.
     
  5. jc888888888

    jc888888888 New Member Silver Stacker

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    love the return on investment:)
     
  6. chances

    chances Member

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    Im a little interested, I have a stash of bitcoin which im hoarding but depending on the price I might let some go.
     
  7. yennus

    yennus Well-Known Member Silver Stacker

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    Yep, so far the ROI seems quite impressive; and it seems to have gained a fair bit of traction in a few far flung places.

    This could be a good way to solve the problems with traditional T/T/Wire transactions and PayPal fees.
     
  8. yennus

    yennus Well-Known Member Silver Stacker

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  9. chances

    chances Member

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    Thanks, too many coins there to wrap my head around at this hour :)

    Ill check the list out tomorrow and let you know.
     
  10. jc888888888

    jc888888888 New Member Silver Stacker

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    Yes sir ,becuase pay pal is going to get there arms around this pay pal gift situation sooner or later ,and i would suggest sooner, it already does not work in some parts of the world , accepting wire in the USA is problematic as many banks here charge wire in fees on international wires in my bank does 45 usd
     
  11. silverfever

    silverfever New Member

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    IMHO Paypal already charges fees for gifts. They just charge the 4% to the sender instead of the receiver if using a credit card.
     
  12. jc888888888

    jc888888888 New Member Silver Stacker

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    that fee is charged by the credit card co. yes paypal skims some of it ,but if any business takes your credit card directly ,lets say like modern coin mart ,they are charged anywhere from 2.3% to lets say 3.5% and if it is an american express card more like 4% as they are higher in fee,s than Visa or Master card
     
  13. jc888888888

    jc888888888 New Member Silver Stacker

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    if you tranfer funds to your pay pal account, you get charged zero fees to pay pal gift ,pay pal is not going to pick up the credit card charges for you:)
     
  14. tamo42

    tamo42 New Member

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    I find this idea very interesting, but there is a big problem. Your trading spreads & slippage of converting to or from bitcoins are likely to be greater than the 2.3% PayPal charges.
     
  15. tamo42

    tamo42 New Member

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    The more I think about this, the more I like it assuming you actually keep some holdings in BTC.

    So count me in for people willing to trade pandas for BTC
     

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