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Prakash Narayanan
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62 followers
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Missed the actual class, so working on this by myself. 

Di Jakarta ada pakar Javascript? Need some advice hehe...

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Terrific op-ed piece on bitcoin. Still raises a ton of questions though. 

Bid-ask spread on bitcoin is only about 0.2% on bitStamp right now, which means if you're making a payment in USD to a merchant, you would be swapping USD-BTC and BTC-USD within the transaction time. So that's 0.4% costs, plus hedging costs within the transaction window. 

That's not bad. 

Right now for credit card payment, you would have to pay 2-3% in transaction fees borne by merchant, on top of that if you were using a different currency from your credit card, you would need to add 3% bank conversion fees that payer bears. 

Especially for international payments, using a fairly liquid exchange as a backend, you would be able to reduce transaction fees significantly.
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