Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Are the deposits on circle are holded in BTC or fiat?
depends what you deposit i guess.
My English is lacking, hm?
Another trial:
I hold BTC or Fiat on a circle Account? You know what I mean? I guess BTC, but want to be sure.
it is my understanding that circle accounts can hold BTC or Fiat(of any color), and you are free to switch back and forth at anytime, I'm guessing they won't let you do bitcoin trading with this account... its probably part of their policy that it the service should not be used to day trade bitcoin.
I don't want to trade, I only want to send a medium amount of Bitcoins to my Circle Account. It irritates me that there are coming up messages like "you received xxxx.xx $ and not xx BTC. So it's only a reference value in USD and in conclusion nothing more than another form of a Bitcoin wallet or are they converting BTC to USD on entrance?
i have no idea how they balance their books.
but yes the site will always display your balance in $ terms, they feel its easier for new users to see their balance in their local currency.
must be depressing sending bitcoin over there today and watching your balance fall 9%
Adam:
From your various responses, it seems that you do NOT have a Circle account. Surely, I am NO Circle expert because I only started using it at the end of September, and on October 1, I transferred $500 into my Circle account (which translated into 1.29263 BTC. A I type, my previous $500 is valued at $441; however, the amount of BTC has NOT changed, only the dollar equivalency of my BTC holdings.
I have NOT yet seen any option to hold my Circle account value in fiat rather than holding in BTC - possibly Circle could add that feature later - though I have my doubts that they are going to allow such (b/c the account would convert into a trading account).
Actually, before I opened up my account with Circle, I was wondering how Circle was going to prevent people from trading with their zero fees policy, and it appears that their outrageously low weekly limits (starting at $2,500 per week non-immediate transfer or $500 per week immediate transfer); effectively make it difficult to engage in any kind of high quantity or high frequency trading, and their weekly limitations also make these accounts very small potatoes... Even Coinbase has higher weekly and daily limitations than Circle.... My Coinbase allows for $1,000 per week immediate and $50,000 per week, and the Coinbase limits are constantly updating in order to cause less restrictions.
Note that my Circle account is brand new and there is a disclaimer that my weekly limits may increase with the passage of time - supposedly as I become a more longer term account holder (we will see?).
Circle has fees. Their price is 0.5% above market.
More or less I agree.
I have NOT been involved with Circle long enough to really verify the exact dynamics; however, I did notice that the price difference (which really amount to the same thing as fees) were about .5% as you say higher than Coinbase, but also, I noticed that the Circle price does NOT seem to be as responsive to the BTC price movements in the market, either... so there may be times in which we are paying more of a difference in BTC prices than .5% because it seems very difficult to time our BTC purchases in accordance with the price that should be regularly fluctuating with the Bitstamp exchange price.
On the other hand, it is fairly easy, on Coinbase, to see rapid fluctuations in the BTC price and thus attempt to coordinate BTC purchases with low downward price swings as they are occurring on Bitstamp. Regarding sales of BTC, I have NOT yet attempted to sell through Circle, so I am NOT sure if Circle also stick us with an approximate .5% BTC price difference on the opposite end?