Bitcoin Forum

Hmm. This could be the last hurrah of bitcoins.


With Dwolla being uncooperative, the amount of money it will take to keep up with the growing supply of bitcoin will not be able available.

I still haven't figured out an easy way as a merchant to accept bitcoins by sending btcs to an account by account names and numbers instead of passing untrusted addresses from person to person.

We desperately need a bitcoin bank to transfer funds to one another instantly and  in a monetary language that everyone is used to.


If not, it's going to be all downhill from here.

Check out bit-pay.com.  Super easy and you can receive the money as USD or BTC automatically. Brilliant.

BTC was growing for a years before dwolla became involved. It is annoying news, but wire transfers aren't that horrible to use.

Bitcoin survived PayPal and it will survive Dwolla.

Unlike PayPal and credit card processors, Dwolla does not object to its service being used for the purchase of bitcoins.  Dwolla simply was forced to pivot and it now passes most of the risk of fraud onto the merchant.  

That doesn't mean that Dwolla is no longer an acceptable funding method, it just means that it no longer is the least expensive acceptable funding method.

Price fixes everything.  Dwolla chargebacks are tougher than PayPal or credit card chargebacks, so the frequency will occur much less often.  

By adding a surcharge to all Dwolla payments, an exchange can still accept that payment method yet be able to absorb a certain level of chargebacks.  

Camp BX, for example, said recently that because each deposit converted to bitcoins produces enough commissions such that even if they see a 1% overall chargeback rate from Dwolla, they could absorb the losses and continue on.  And that is without a surcharge for Dwolla deposits.

This is just a speed bump and not a brick wall.


There are more and more of these coming every day.  Is WalletBit perhaps a little closer to what you are looking for?
- http://walletbit.com (and their Business Tools: http://walletbit.com/businesstools )
- http://en.bitcoin.it/wiki/Category:EWallets

I'm talking about a real bank that can store both USD and BTC.

MtGox would be perfect..............IF it allowed person to person and person to other financial institution money and btc transfers.

It used to allow that, along with the all-important person to hacker transfers.

The financial institutions are intensively regulated. Does mtgox have a team of lawyers to help them to be a REAL BANK? thank you.

Whose coins are we seeing? Mybitcoin or polands or both??

Poland?

yeh the polish exchange "lost" their entire wallet

Thanks to amazon cloud service Poland is out of BTC.

More details please? And nothing to blame Amazon for, they specifically state that they don't guarantee even persistent volumes to be safe - backup, store in a fail-safe S3, there are many ways. Blame the idiots who ran it.

actually if you run a service that stores data, and then your service fails, it is amazons fault. if you cant garuntee that, dont be in the data storage business...

You make valid points but I do not believe you have it right. IMO your close, that things need to be EASIER (DUMBED DOWN) for the general public to adapt. I mean lets be real can you really expect someone to load ubuntu onto a flash drive and add the wallet.dat etc to "secure" it?!

I work customer service everyday and you really would be amazed at how stupid people are. I do not mean average people , I speak to lawyers, doctors, and business professionals with zero common sense.

I own a pizza joint. I get the same lawyers, judges, etc that don't know how to place an order, read a menu, or understand why their total includes tax.

lol

I am in a call center where we deal with a lot of customer service related to signed agreements/contracts. I laugh when they say " oh i didn't read all that paper work".
Bitcoin has to be dumbed down to be accepted. Why is Windows the dominant operating system?! Because its so ez!!

not sure such a bank exists, but the canadian exchange (virtex.ca) seems to be close in that your account is similar to a bank account in that you can transfer both BTC and CAD into and out of your account - directly into your BTC wallet or your CAD bank account easily, *relatively* quickly (1 or 2 banking days), and *relatively* cheaply (3 bucks per withdrawl for CAD, 0 on BTC)

they *seem* to have learned from the mistakes of other exchanges, and perhaps their model should be mimicked in other countries, but only time will truly tell...

*edit* but the premise of the thread regarding making bitcoin more "user friendly" holds true. having to un-encrypt my wallet, open the client, make the exchange, and then re-encrypt my wallet and "delete" the original file *(who knows if it's ever truly deleted, even after emptying the recycle bin? not to mention that the whole time I'm trying to catch up to the network my wallet is pretty much fair game)*

if this doesn't get easy enough for the masses, it will never be adopted by the masses.

The problem with making any system idiot proof is that idiots as so amazingly ingenious.

"I can't find the 'any' key" was a great joke until I actually heard it over the phone.

ingenious idiots? Doubt it, but the lack of ingenuity is compensated by their sheer numbers :) You know that saying about 10,000 monkeys with typewriters...

Not really. These are only the initial bumps. We are very patient.

I agree that it needs to get MUCH, MUCH easier for it to gain mainstream appeal, but FWIW this is all I need to do to use my BTC as a total noob with zero programming experience/knowledge:

• o (decrypts wallet.dat, opens client/daemon, lists account balances)
• b sendtoaddress
• c (closes client, encrypts wallet.dat, shreds plaintext wallet.dat 1000 times)

My .bashrc:


Also if you want to keep your blockchain updated you can just keep it running without your wallet.dat since it's stored separately in blk0001.dat and blkindex.dat.

Where do I put this .bashrc file, to Windows/System32 folder or it's ok on my desktop? :) Thanks for sharing, but real noobs will need a better way to start using BTC securely... Like a GUI with one button where wallet is encrypted and you don't have to learn the word *blockchain* ever :)

Nevermind the lawyers and judges, being in a support/consultation job, there are some chillingly stupid things I hear/see bank satff say/do themselves :D

Yet somehow the banking system despite having some amazingly dumb lawyers and bankers, still seems to be working... so far :D

You know, anybody who knows how to use a CLI, including the one in Windows for that matter, cannot be considered a noob. :D

Haha yeah, that's why I said there's still a long way to go until Joe Average uses it.  It's more of an argument for how simple the CLI really is and how Linux highlights its use, encouraging the best tool for a given job.  Sometimes the GUI isn't faster or easier, even if it may be more familiar and comfortable just because you're used to it.  And even when helping noobs, it's much easier to say "copy and paste this" than give a long list of "click this button halfway down the page third from the right, then scroll down the dropdown list until you see this, then go back to the last screen with the green bars and find the tall box between the two short boxes..."

And you could easily make a batch file in Windows on your desktop that you can double click for the same results, but I'm not as familiar with that.

I'd say that for the average joe, a GUI is the better tool for the job. While a CLI may be more convenient for support reasons, for the same reason it is also more dangerous. Imagine if the noob copied just one option short which usually isn't disastrous but... More critically a social hacker could also use the same convenient to make the user do something irrevocably stupid.

It'll take a much stupid user to follow an instructions that brings up a prompt "Are you sure you want to send so much to this person?", than for one to copy and paste something like "btcsend 10000 -addr 126784FGCAB183 -yes" for an unprompted send.