RE: Helping people make their first withdrawal from Hive 💰

[ahmadmanga]

My thoughts:

• Telling them to register on Blocktrades is a good choice, it's the easiest service I know to covert HIVE to other Crypto. Most exchanges don't accept all countries, and it's a pain even if your country is accepted sometimes.

• The way you went along with them in the process is probably the same way I'll go over the same thing. Except that I would probably tell them to wait until 6 confirmations, because that's how most wallets I've seen worked. Don't know about Coin.ph though...

• I love LOVE the way you described all of this. It doesn't leave me a room to interpert what happened differently, which means I know exactly what you did and how you did it, and that's much better than any explanation that I come up with!

They preferred BTC (Bitcoin), but I said that it has very high fees and is discouraged by BlockTrades.

How much they're converting? BTC really has high fees and it will never be my choice, but I know some people will sacrifice the fees to go with their preferred currency. If they're converting an amount +$100 they might be okay with it, if it's lower than $100 tell them the percentage they'll lose with the current Blocktrades fee. Does Coin.ph have internal fees for deposits too? Your text implies that's the case.

Comments

[savvyplayer]

Thanks for your long reply from your account you are using for longform replies! 😆😅

1. I am aware of the 6 confirmations used by most exchanges before the deposit gets credited to the wallet. Coins.ph requires 3 confirmations as stated on their helpdesk for incoming BTC transactions to be credited to their users' respective wallets.
2. Withdrawing about $1 worth of HIVE to BTC through #BlockTrades will give you exactly 0.0000000 BTC (zero)! However, in the case of BCH, they received roughly 85% of their withdrawal amount. Nevertheless, BlockTrades shows the "NOTE: Bitcoin network fees are currently high." message on their website.
3. Coins.ph has zero fees when accepting cryptocurrency, but has very high fees when it comes to exchanging to fiat currency (somewhere between 6% to 8%) and sending to external (non-Coins.ph) cryptocurrency wallets (roughly $10 for BTC and $1 for BCH). I care more about the ratio of the fee to the actual transacted amount, rather than the fee itself.

Thanks for appreciating my article! 😀 I did hope you also shared your thoughts about why my post got downvoted. 🤔

That's my longform reply to your longform comment! 😅

[ahmadmanga]

Thanks for clearing the last point up.

By downvoted, you mean the small %100 downvote that didn't do anything? I can think of a few reasons, but downvotes like these doesn't matter much:

1. They have a grudge against you. (Unlikely but possible.)
2. They clicked downvote by mistake. (Also unlikely.)
3. They're a part of a group that downvotes any post they come across. There were a few back in the spring of last year because of the whole STEEM/HIVE politics.
4. They have a grudge against someone who Upvoted you. (More likely than #1.)

I can think of more reasons, but I think I wasted enough time on this...

[savvyplayer]

My assumption right after I saw that downvote was that the downvoter did not want anyone withdrawing HIVE (or teaching others to withdraw HIVE), or using Hive just to earn money. 🤔

[ahmadmanga]

Oh, yeah, that too... I think the downvote is too low for him to have actually read the post. If it was an actual curator who downvoted your post will get toasted!

That's why I jumped to conclusion of a grudge or something...

[savvyplayer]

The downvoter is actually a woman (as it appears on that user's profile). I don't think it is because of a grudge, since I have never interacted with her posts. 😐

[ahmadmanga]

I probably checked the wrong user then...

[savvyplayer]

I believe that it is the thought that counts. That's exactly why I am voting posts I like using 0.1% (or 1%, depending on the Hive frontend I am using) of my Voting Power - to show that I like the post without spending Voting Mana. 😐

[ahmadmanga]

Me too!

[savvyplayer]

I only use 100% Voting Power for posts that I really like. That gives the upvoted post approximately $0.0011 worth of rewards. 🤔