Silk Road forums
Discussion => Newbie discussion => Topic started by: kneotac on April 18, 2013, 12:02 pm
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Hi,
What percentage from sale price do vendors usually lose through cashing out BTCs to cash?
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This would all depend on how much btc you were to sell, where the market is at and who you sell your coins too. Research what exchange or person you want to sell to and see what their percentage charge is.
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As a Canadian Vendor, in all honesty I probably loose about 10% in cashing out every time, sometimes more.
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i use the bitcoins made here to purchase more product which i sell on SR and IRL
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You don't lose any percentage unless you sell....in which case if you wait for the price to rise you gain. Although most vendors don't do that, there is no definite answer to this question.
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what is IRL?
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what is IRL?
In Real Life.
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As a Canadian Vendor, in all honesty I probably loose about 10% in cashing out every time, sometimes more.
Thanks for posting SOE. I figure it probably similar here.
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It also costs me about 10%, on average. But occasionally BTC is rising rapidly enough that I make money. And when it crashes I get fucked.
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With the fluctuations back in the day you could really lose big if you didn't cash out asap, and sometimes cashing out wasn't an option so you just had to wait and grit your teeth until someone was ready to deal. Btc seems to be a bit more stable, as of late, though. There was a time when you could lose 20-30% revenue just because of a one-day fluctuation. Price of business. Make sure your margin is AT LEAST 100-200%, though. I don't understand the mind of resellers who make 20-40%. It just doesn't work with this market model, not to mention for the risks you're taking - multiple high crimes against your country that come with a big chunk of your life in federal prison - it is just not enough of a payoff.