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Title: Why dont use credit cards? Post by: muad_dib on June 10, 2011, 11:49:58 PM I understand that paypal is frowned upon for buying bitcoins.
But why they can't sell bitcoins with credit cards directly? Just implement a gateway payment on mt.gox et voila.... But maybe Visa and Mastercard don't want to deals with bitcoins? Title: Re: Why dont use credit cards? Post by: twobitcoins on June 11, 2011, 12:06:13 AM Stolen credit cards, for one thing.
http://forum.bitcoin.org/index.php?topic=1442.0 Title: Re: Why dont use credit cards? Post by: Stephen Gornick on June 11, 2011, 04:30:07 AM But maybe Visa and Mastercard don't want to deals with bitcoins? Yes, for two reasons: 1.) They don't want you to speculate using their money. This is the same reason you cannot add money to an E-Trade account using Visa and Mastercard either. 2.) Bitcoin is not only a formidable competitor to them, it is is more likely something that will be eating a good chunk of their business. The longer they can avoid competing with Bitcoin the better. That being said, it is doubtful Square will know for what reason you swiped a credit card through your friend's iphone, for instance. So they likely aren't stopping it from happening entirely but they are keeping using credit that way to a manageable level. |