Problem is all the bloody fees involved.
Let's say you sell 10 btc for 6 usd on mt gox
trade fee: 0.65% = 0.39c usd ($59.61)
withdraw fee to liberty reserve: mt gox: 1% = 60c usd ($59.01)
withdraw fee to liberty reserve: libert reserve: 1% = 59c usd ($58.42)
curreny conversion (current - 1c = * 1.24) = 72.44 NZD
bank account xfer webmoney: 3% or $10usd: ~$12.50
money in account: 59.95 NZD (fees: 15.05 usd, NZD)
via otc 10 btc @ 6usd = 10 btc @ 7.5 NZD = $75 NZD
Fees eat 20% of your money. Ugh.
Last edited by Jodi : 13th May 2011 at 12:58.
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