Silk Road forums

Discussion => Newbie discussion => Topic started by: BubbaD123 on June 12, 2013, 02:12 am

Title: What Percentage of Extra BC Covers All Fees?
Post by: BubbaD123 on June 12, 2013, 02:12 am
Hello everyone, new user here. Before I make my first bitcoin purchase, I'd like to know what percentage over the purchase price of the SR item I've got my eye on should I buy, in order to cover all associated costs with both purchasing bitcoins and buying through SR?

So.. if I'd like to buy a 1/4 of top-shelf bud for $100(including shipping), should I purchase ~$115 of BitCoin to cover all fees? I realize it will vary from BitCoin reseller to BitCoin reseller and my method of paying for that BitCoin, but just assume I have plenty of time and am willing to hunt for the cheapest(and yet honest) reseller I could find. As a rough estimate, how much of the purchase price do YOU usually pay to cover all fees?

I appreciate any information you worldly SR users could provide. Thank you.
Title: Re: What Percentage of Extra BC Covers All Fees?
Post by: Porn Star on July 21, 2013, 08:28 pm
The cost of obtaining bitcoins varies wildly from 0% to 25% or so. I'm guessing that's why nobody answered your question right away. You'd be better off asking the bitcoin seller this question.
 I'd probably figure on an Extra 10% over fees just to cover fluctuations in the exchange rate between bitcoins and your country's currency.
Title: Re: What Percentage of Extra BC Covers All Fees?
Post by: tbart on July 21, 2013, 09:06 pm
each transfer thru a wallet will cost you .0005% or 5 cents on $100, so the wallet cost isn't much
it's the fluctuation on the btc's value - vendors seem to adjust it automatically and probably have a fudge factor built into to - but for example when i started looking about the 20th of last month, btc had dropped to $68 per, then by the 1st had popped over $100, when i bought it had fallen a couple of bucks to $99 but i paid my seller from localbitcoins $104 in cash (didn't feel like a bad exchange commission + i got to keep my anonymity - like porn star said 10% over will probably be fine -