Quote:
Originally Posted by a dewd
75%? That must have been a very small deposit. Even a $100 only takes a hit of 5 or 6 bucks.
There is almost a 100% chance a site/miner is holding coin or delaying credit/debit due to the fluctuation in volatility. Banks do it on your deposits, too. That is why the simple process of a withdrawal takes a cpl days. It can be hedged. It is also part of the reason miners collect blocks of them at a time. The exact same thing happens in the currency markets in every commodity/futures market in the world. Smaller transactions are blocked together, pay higher percentages, and take longer to receive an execution. Btc, and all the others, are set up in the same model.
As digital currency becomes more widespread, the time, fees, and spreads will come down.
It sure was a small deposit.. $5-$6 bucks from a $100 is really steep. Especially when you get taxed 5% each way. that's 10% and that's money not going to the sites pool.
If you think about it $2 was what was the cost before when everyone used credit cards. With BTC now the players are getting hit harder than we would using a credit card.
Adding ETH and LTC to be used along with BTC would be so great for everyone.