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Bitcoins at Bic
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2017/5/23 02:19
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by Butchijo (guest)
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Re: Bitcoins at Bic or in Japan
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2017/6/10 18:04
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Thanks Luisjp for the response. So I understand that BIC uses the Bitcoin actual esellingf price for the calculation Bitcoins to Yen. I assume BIC is using one of the main traders for this exchange price. Given the fact that you must first buy Bitcoins before you can spent them this means that you have to add about 2% to the price because the Bitcoin ebuyingf exchange rate is 2% higher. And so the product you buy is 2% more expensive then when you pay in Yen. It would be nice if BIC and others give you a discount if you buy with Bitcoins (they do not have the creditcard cost!). This 2% sounds bad but because as a traveler you also have to buy first those Yen. And assuming the exchange rates the banks are using and on top the commissions these banks are charging this might be more costly. One drawback using Bitcoins might be the instability or rapid changes of the Bitcoin. However if you can buy Bitcoins electronically from your bank at home you might minimalize this effect when you buy the bitcoin just prior you buy something with Bitcoin. I hope some traveler can give some actual examples of the cost comparison (using Bitcoin vs using bought Yen). Just for information: http://www.coindesk.com/japan-bitcoin-law-effect-tomorrow/Regards B. Slager
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by Butchijo
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