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catspleen posted:And what happens when between sending and receipt the BTC->USD price drops 6%? "Hello I have USD/Bit to pay for Tesla Model Tittyz, please accept" *Musk tweets* "Oh sorry plz more butcoin"
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Mar 24, 2021 13:57
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I once bought a bike from a local Canadian company, but they charged in USD since they have an online site. The transaction didn't post until the next day and it cost me $500 more due to forex and currency fluctuations. Never heard of that before!
xtal fucked around with this message at 14:30 on Mar 24, 2021 |
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Mar 24, 2021 14:08
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500 dollars more? How much was this bicycle originally? also the fluctuation isnt anywhere nearly as volatile as btc and what does currency conversion from USD to CAD have to do with btc exactly, i know you're trying to make a point about fluctuation but still Plant MONSTER. fucked around with this message at 14:20 on Mar 24, 2021 |
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Mar 24, 2021 14:18
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Certainly BitCoin doesn't fluctuate wildly within an hour.
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Mar 24, 2021 14:19
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Plant MONSTER. posted:500 dollars more? How much was this bicycle originally? In this case the forex conversion was delayed by way longer than a BTC transaction. Even though I made the purchase during business hours, it didn't post until the next day. The price was about 5k USD: https://www.helix.ca/shop
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Mar 24, 2021 14:24
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5k, yeah that makes sense then. I was envisioning like a 700-1000 purchase at first, lmao. edit- it makes sense that 5000usd = 5500 cad Plant MONSTER. fucked around with this message at 15:20 on Mar 24, 2021 |
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Mar 24, 2021 14:30
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There hasn't been a 10% daily fluctuation in USD-CAD in over five years (no easily accessible data exists past 2016). At the local max-min (Jan 3 to April 4) was a 7% depreciation, but that was a literally three month gap with tiny steps down each day, and it's only been appreciating against the USD since then. Soooo... you got hosed by the bank/vendor. Edit: it is more likely the vendor anticipated the supply chain difficulties from the pandemic and socked it to you.
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Mar 24, 2021 14:33
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When doing business with or converting different currencies everyone in the chain has their hand out for a cut of the transaction. The same is true for crypto and the volatility is added as a special gently caress you cherry on top.
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Mar 24, 2021 14:36
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thinking really hard about that one transaction where someone fat fingered the fee amount with the actual amount of money supposed to be sent to the intended party, to the tune of like 70+ bitcoins as a no fee
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Mar 24, 2021 14:41
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I guess there was because I ended up getting the difference back from the bank once I complained, and it was about $482. I specifically do not make any mention of how the bank wouldn't refund me if it were bitcoin.
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Mar 24, 2021 14:42
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Andy Dufresne posted:When doing business with or converting different currencies everyone in the chain has their hand out for a cut of the transaction. The same is true for crypto and the volatility is added as a special gently caress you cherry on top.
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Mar 24, 2021 14:47
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So in the end the fluctuation was a bank error where they refunded you almost the entire overcharge, with an actual cost of $18 on a $5000 purchase. That's "volatility" of 0.0036, or a hair over a third of a single percent. Or the CAD dropped a single penny relative to the USD overnight. 
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Mar 24, 2021 15:05
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Had I not noticed or complained, they would have kept the whole price difference. To be honest, your posts over the last couple days are completely delusional. You seem to be unwilling to make any compromise and are making some extreme logical jumps to avoid your dissonance. Sorry to be blunt, but I'm not your therapist who's paid to sugar coat it.
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Mar 24, 2021 15:11
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xtal posted:To be honest, your posts over the last couple days are completely delusional. You seem to be unwilling to make any compromise and are making some extreme logical jumps to avoid your dissonance. Sorry to be blunt, but I'm not your therapist who's paid to sugar coat it. It's confusing when you make this post without quoting your own posts first. It looks like you're talking to someone else
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Mar 24, 2021 15:21
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Things I've said over the last couple days: 1. 6% volatility is comparable to index funds 2. Credit cards can take longer to process than bitcoin and result in more fees Things I've heard: 1. 6% volatility is going to take down the government 2. 6% volatility is too much because you're in retirement 3. Everyone talking about this is actually poor 4. Someone should hit me in the face with a football (I concede this one)
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Mar 24, 2021 15:29
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I have also heard that bitcoin is in fact what will save us and give us a good warm life. who would be against that? smh
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Mar 24, 2021 15:36
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xtal posted:Things I've said over the last couple days: No one cares about anything you say, Seraph Jr.
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Mar 24, 2021 15:41
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xtal posted:I guess there was because I ended up getting the difference back from the bank once I complained, and it was about $482. I specifically do not make any mention of how the bank wouldn't refund me if it were bitcoin. From the time of your initial post to your brokebrained bullet point list BTC lost $300, gained $600, then lost $700. Hope your transaction was one of the 8 that got through before the swings! FilthyImp fucked around with this message at 15:45 on Mar 24, 2021 |
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Mar 24, 2021 15:41
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xtal posted:I guess there was because I ended up getting the difference back from the bank once I complained, and it was about $482. I specifically do not make any mention of how the bank wouldn't refund me if it were bitcoin. Lmao, why would you even bring this up then? It's seriously amazing how good at self-owns you are.
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Mar 24, 2021 15:48
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Gee, one time, at the store, I gave them a fiver for a 2.25 purchase, and they only gave me back 1.75! Had I not noticed, I would have been scammed out of almost half what I was owed! How can we have trust in such a system, instead of Bitcoin, where I can just accidentally delete all my money forever with no recourse whatsoever???
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Mar 24, 2021 15:51
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My point is that many people are scammed this way every day. Unlike bitcoin where everyone is scammed this way every day, but with that understanding.
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Mar 24, 2021 15:55
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xtal posted:
What I lack in money I more than make up for with heart and unlike poverty, cardiomegaly is irreversible. 
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Mar 24, 2021 15:55
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xtal posted:My point is that many people are scammed this way every day. Unlike bitcoin where everyone is scammed this way every day, but with that understanding. 
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Mar 24, 2021 15:57
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xtal posted:My point is that many people are scammed this way every day. Unlike bitcoin where everyone is scammed this way every day, but with that understanding. Understanding of what? If they actually understood bitcoin scams, they wouldn't get scammed.
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Mar 24, 2021 15:58
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xtal posted:My point is that many people are scammed this way every day. Unlike bitcoin where everyone is scammed this way every day, but with that understanding. xtal posted:I once bought a bike from a local Canadian company, but they charged in USD since they have an online site. The transaction didn't post until the next day and it cost me $500 more due to forex and currency fluctuations. Never heard of that before!
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Mar 24, 2021 16:00
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Now that I'm aware bad things can happen when I use bank services, bad things automatically become good.
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Mar 24, 2021 16:03
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Are you disputing that the volatility existed and that it costed more because of banking hours? There was no banking error, they gave me the money because I demanded it and if I didn't have a good balance with them they probably would have denied it. Imagine how many people that happens to. You really don't want to let banks make these decisions. xtal fucked around with this message at 16:10 on Mar 24, 2021 |
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Mar 24, 2021 16:06
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"I was overcharged nearly $500 but I won't mention that and blame it on volatility even though I got it nearly all back" is a pointless shaggy dog story that demonstrates not a single one the points you've tried to make. "Oh, this cost me an extra $500 for no discernible reason, I'm going to sit down and lament my failures," said no one ever.
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Mar 24, 2021 16:12
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You said:xtal posted:I once bought a bike from a local Canadian company, but they charged in USD since they have an online site. The transaction didn't post until the next day and it cost me $500 more due to forex and currency fluctuations. Never heard of that before! But it wasn't forex and currency fluctuations, it was your bank loving up or the vendor trying to gently caress you over. You were trying to compare USD fluctuations to bitcoin fluctuations with a bullshit story and then had to backtrack when your story got called out as bullshit
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Mar 24, 2021 16:13
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The bank definitely tried to gently caress me over in the sense that they were profiting from the overnight currency fluctuation. Nobody made a mistake or overcharged me, the USD price was exactly the same both bills and the only difference was the forex. Because I'm an extremely good customer and insisted, the bank gave me the forex rate from the day before even though they didn't really need to.
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Mar 24, 2021 16:16
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Jose Valasquez posted:You said: poo poo, we have 6% shifts in BTC over the course of hours.
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Mar 24, 2021 16:17
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Beeple cashed out his entire winnings from that auction, proving that he is the smartest person to ever be involved in crypto. Unfortunately it did not crash Eth prices for very long. If cashing out $58 million isn't enough, I have to wonder how big a cash out would be required to sink bitcoin.
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Mar 24, 2021 16:18
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xtal posted:The bank definitely tried to gently caress me over in the sense that they were profiting from the overnight currency fluctuation. Nobody made a mistake or overcharged me, the USD price was exactly the same both bills and the only difference was the forex. Because I'm an extremely good customer and insisted, the bank gave me the forex rate from the day before even though they didn't really need to. It's really weird that you had a hyperlocal currency fluctuation like that when nobody else did, guess you're just really unlucky 
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Mar 24, 2021 16:20
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Jose Valasquez posted:It's really weird that you had a hyperlocal currency fluctuation like that when nobody else did, guess you're just really unlucky
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Mar 24, 2021 16:27
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Jose Valasquez posted:It's really weird that you had a hyperlocal currency fluctuation like that when nobody else did, guess you're just really unlucky Exchange rate at time of purchase: 0.8088 At time of posting: 0.76309 Extremely ironically, the fluctuation was almost exactly 6%.
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Mar 24, 2021 16:29
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I have to wonder if the Tesla board regrets giving Elon huge comp incentives based on the stock price. Theoretically a high stock price is great for every shareholder so it makes sense, but now they've paid Elon his billions diluting all other shares along the way and they are in the dilemma of needing to find ever more creative ways to justify the inflated price. They have completely violated their company's mission and the headlines they now garner have nothing to do with their core business. I work at a company of 210 employees and if my CEO started doing this poo poo I'd be out job hunting yesterday. It doesn't bode well for the company's ability to innovate 5 years from now regardless of the other entrants to the EV market.quote:Tesla’s mission is to accelerate the world’s transition to sustainable energy Andy Dufresne fucked around with this message at 16:41 on Mar 24, 2021 |
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Mar 24, 2021 16:39
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Be Your Own Bank is my favorite something awful subforum
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Mar 24, 2021 16:39
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xtal posted:Exchange rate at time of purchase: 0.8088
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Mar 24, 2021 16:57
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xtal posted:2. Credit cards can take longer to process than bitcoin and result in more fees dipshit doesn't understand difference between transaction authorization and transaction settlement, but the dipshit bravely does not let that knowledge deficiency stop him from posting
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Mar 24, 2021 17:15
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Blotto_Otter posted:dipshit doesn't understand difference between transaction authorization and transaction settlement, but the dipshit bravely does not let that knowledge deficiency stop him from posting Funny this is what I say to the people who lose coins on their transactions
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Mar 24, 2021 17:17
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