Is this standard?

[Dubai]

I will say charging VIG is pretty standard on 2+2, its not on here because people know each other. It does make a difference when dealing with stuff

[byronkincaid]

is there a big difference between charging a premium to get staked and this?

imagine in the old days people were just swapping %s or selling at cost to be able to afford to play a comp. obv things change and get more businesslike.

[The Camel]

I'm gonna assume this was about me offering Julian USD at 3% for x amount.

First of all I did not initiate contact with julian, I just wrote on twitter explicitly stating that I had unlimited USD and wanted vig. He replied to the tweet so I followed him on twitter and PM'd him. THEN he was suprised it wasnt at spot. If he had no intention to pay vig he should have read my tweet more closely.

Second of all I've had so much demand that I've had to move the price from 3-5% to 4-6%.   I started off pricing incorrectly low.

6% for under 2k
5% under 12k
4% more.

vig could also depend on what type of chips you would be willing to receive instead of cash.
get me on facebook or on twitter. https://twitter.com/realandrewteng

this should be available ALL summer, although if sending from stars pre plan to be able to send it in america.
I take stars/ftp/skrill/£ bank xfer.

I will also be buying USD back near the end of the summer at much lower rates for the above methods if people have excess or a big score. HELL, maybe even spot if I have too much online.


Thirdly whether or not it is standard?  Yes it is.  I try to put myself in the situation of having currencies that people want on purpose, not to just give it away for nothing.
I'm more than happy for people to turn down my action, it happens all the time.

No it wasn't you I was talking about.

[Rupert]

Andy def takes more of an aggressive approach and gets shit from us for it. If I think people won't be receptive to vig I normally just tell them that I don't want to do the transaction. Agree Thewy fits the bill for most people...

[Rupert]

No it wasn't you I was talking about.

this is disappointing

[Dubai]

It does tilt me when people are queuing up in travel agents, tescos, post offices etc to buy/sell Euros and Dollars at complete joke rates. You could honestly make a fortune just standing next to the queue picking them off and undercutting the rates, still leaving a massive margin in your favour. Obviously some people in the queue, generally females or older people, will ignore you and just cost themselves money still

[Dubai]

Typical Wednesday afternoon- Middle age woman A walks in with a bundle of notes in an envelope carefully looking around always fearing that she is about to get mugged carrying this huge sum of £700. Asks for dollars, gets 1.428 for 700 getting $1k. Old man 2 walks in 10mins later after a lovely trip to the states with his grandkids, has $1000 left over, hands it in and happily walks away selling them at 1.666 collecting £600.

2 happy customers and £100 basically stolen from the local economy.

[The Camel]

is there a big difference between charging a premium to get staked and this?

imagine in the old days people were just swapping %s or selling at cost to be able to afford to play a comp. obv things change and get more businesslike.

Yes, there's a massive difference between this and charging juice to get staked.

To play a live comp the player has got expenses, sometimes they are very high. Selling with 0% juice means the player is covering all of this.

Charging vig for for something that costs zero is a business.

By all means say no if the transaction doesn't suit.

But a mate who tried to charge me vig on a currency transaction wouldn't be my mate for very long after he tried that.

As Dubai said, life isn't just about profit maximisation.

[Tal]

As a raging capitalist, I can buy the argument (and sell it for a profit) that things are worth as much as someone else is prepared to pay for them.

Basically, you can do what you like with your money.

Would I charge an uplift on currency to someone I knew? No. But then I do all sorts of weird shit. I'm probably in the majority on this one, tho, in saying I wouldn't feel comfortable adding vig

[byronkincaid]

is there a big difference between charging a premium to get staked and this?

imagine in the old days people were just swapping %s or selling at cost to be able to afford to play a comp. obv things change and get more businesslike.

Yes, there's a massive difference between this and charging juice to get staked.

To play a live comp the player has got expenses, sometimes they are very high. Selling with 0% juice means the player is covering all of this.

Charging vig for for something that costs zero is a business.

By all means say no if the transaction doesn't suit.

But a mate who tried to charge me vig on a currency transaction wouldn't be my mate for very long after he tried that.

As Dubai said, life isn't just about profit maximisation.

not really any expenses playing online and everyone sticks a vig on that?

[Woodsey]

I would never charge anything for people I know, but I don't have a problem with those that do, its pretty easy to say no. There is probably enough of us on here that are willing to trade for nothing anyway I think.

[mulhuzz]

It does tilt me when people are queuing up in travel agents, tescos, post offices etc to buy/sell Euros and Dollars at complete joke rates. You could honestly make a fortune just standing next to the queue picking them off and undercutting the rates, still leaving a massive margin in your favour. Obviously some people in the queue, generally females or older people, will ignore you and just cost themselves money still

it's insane -- also the effective swing from these 'buy back price gtes' is absolutely mental as well. might as well burn money.

now that's no problem at all to charge (capitalists gonna capitalist, etc) but when it's sooooo easy to sort out a much better rate (even for small 'taking the family on hols' amounts of money) that I sometimes do wonder if travel agent forexes are just darwin taxes ^^

 /derail

[kano]

Decent sideline until somebody comes straight through the front door.

[SuuPRlim]

It's so very very easy to be organised with currencies tbh a decent part of me thinks if people dont do it for w/e reason then they should be charged for it, laziness costs money.

[The Camel]

The next logical step is to charge mates interest when they need to borrow money.