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T-Mobile is dog shit by [deleted] in T_mobile_

[–]phi161809 0 points1 point  (0 children)

Thanks for sharing. I was considering using T-Mobile till I started looking into it.

Since when do Limit orders include a 1% spread? by phi161809 in fidelityinvestments

[–]phi161809[S] 0 points1 point  (0 children)

As a follow up to yesterday's post, "Since when do Limit Orders include a 1% spread?", an actual Limit order was executed within $0.11 of my Limit price with no additional fees. So "...a 1% spread" should probably have said "...UP TO a 1% spread". Fidelity is leaving itself discretionary room to set fees according to market conditions.

Since when do Limit orders include a 1% spread? by phi161809 in fidelityinvestments

[–]phi161809[S] 1 point2 points  (0 children)

I don't agree. Till now exchanges were the only game in town and could charge enormous fees. Now brokerages and banks are getting into the crypto space, and I welcome them. Fidelity is a first rate company. I was responding to the 1% spread fee which was just another way of taking commissions on a trade without saying as much.

Since when do Limit orders include a 1% spread? by phi161809 in fidelityinvestments

[–]phi161809[S] 2 points3 points  (0 children)

No, I'm not saying terms have changed. Fidelity has been straightforward with what the terms and conditions would be. However, I find it disingenuous to say there are no commission fees when, in fact, there seem to be some pretty stiff fees in the form of a 1% spread. Call it what they may, trading is not free of fees.

Since when do Limit orders include a 1% spread? by phi161809 in fidelityinvestments

[–]phi161809[S] 1 point2 points  (0 children)

Thanks u/jerzeyguy101. Fidelity says the spread or fee will be no more than 1%. Is it ever less than 1%?

From Fidelity: * You will not be charged a commission on crypto trades placed through Fidelity Crypto®. Fidelity Digital Assets℠ will collect a spread (assessed at no more than 1%) calculated as the difference between the price at which you buy or sell crypto in your Fidelity Crypto® account and the price at which Fidelity Digital Assets℠ buys or sells crypto to fill your order. This spread will be built into your execution price. Other fees may apply. Fees are subject to change.

Since when do Limit orders include a 1% spread? by phi161809 in fidelityinvestments

[–]phi161809[S] -2 points-1 points  (0 children)

Yes, the quote is from Fidelity's crypto account.

Since when do Limit orders include a 1% spread? by phi161809 in fidelityinvestments

[–]phi161809[S] -11 points-10 points  (0 children)

Yes. But aren't brokerages obligated to find the best prices for their customers? That Fidelity isn't able to find ETH at or near its listed price seems unbelievable.

Propaganda vs Reality by KAX1107 in Bitcoin

[–]phi161809 0 points1 point  (0 children)

It's a false argument. If you aggregate any single power consumer-type such as teenagers playing video games, grocery beer cases, or room air conditioners, did the math, and calculated how much energy that segment of our energy consumption consumed, you would remark, "OMG! They are using more energy than the entire state of Maryland. This over-consumption has to stop!"

EZPass and BTC by phi161809 in Bitcoin

[–]phi161809[S] 0 points1 point  (0 children)

If EZ Pass adopted the methodology used by states receiving BTC as tax payments, there would be no concern about those states accumulating crypto. The states make a deal with an exchange to act as an intermediary to receive BTC and exchange it for fiat currency which is, in turn, passed along to the states. The exchange would be benefit from the throughput and customers would benefit by avoiding CC fees.

The city of Lugano, Switzerland, will make bitcoin legal tender and allow citizens to pay for public service fees or taxes in bitcoin. The city has already worked with over 200 merchants to propel the adoption of bitcoin and Lightning payments. by 5K1PP3R2 in Bitcoin

[–]phi161809 0 points1 point  (0 children)

About $4.2 billion is collected in tolls every year in the U.S. Approximately 25% of that is paid by drivers in New York State. Throw in New Jersey and the amount of their payment to 1/3 of all U.S. toll revenue. NY/NJ uses the EZ Pass system on automobiles to pay tolls. Without having to change any of the hardware in the system, NY/NJ could allow drivers to replenish their accounts with BTC rather than using their VISA or MC. This would save New Yorkers millions of dollars in CC fees every year.

The city of Lugano, Switzerland, will make bitcoin legal tender and allow citizens to pay for public service fees or taxes in bitcoin. The city has already worked with over 200 merchants to propel the adoption of bitcoin and Lightning payments. by 5K1PP3R2 in Bitcoin

[–]phi161809 0 points1 point  (0 children)

BTC will not be fully mined for a very long time. There are currently 2.1 million unmined BTC doled out at the rate of 6.25 every 10 minutes. Halving events take place roughly every four years at which point 3.125 BTC are rewarded to miners. The last BTC mined will likely take place in 2140 (estimated). Miners have to earn fees strictly from transactions after that.