Bitcoin Forum

dsg

Well done  and good luck with the site. I hope to make use of it .

Good work!
We need one like this for Canada.

Will you let me change my receiving address when my wallet gets compromised and I have to make a new one?

Seems to check out through here: https://secure.utah.gov/bes/action (https://secure.utah.gov/bes/action)

I don't understand why you guys are NAICS code 5313, though I don't really understand what sort of regulation you are dealing with. Good luck, I've been looking forward to this.

One of the top google search results is for bitcoin usa is this thread;

"Bitcoin domain name land grab is on" - https://www.bitcoin.org/smf/index.php?topic=1829.0

maybe they figured bitcoin was some scheme for speculating on land prices...

I've used ACH before with Paxum and it was SLOW. It took over a week for the first transfer, and about the same amount of time for the second. Is that normal? I thought ACH had about the same turnaround time as a wire transfer, and if it only took a day or so to move money between my bank and BitcoinUSA that would be great.

I requested money out of Dwolla early Monday morning and just checked and see it is in my bank (credit union) as of today (Tues. 2PM). So, it is definitely doable. Paypal normally takes me 2-3 days, and my hunch is that what bank you have matters a lot. Some banks even charge for ACH. This link (http://www.fatwallet.com/forums/finance/1057914/) might be helpful for those of you who have shitty banks.

David, that is kinda funny about the NAICS code. I will start the process sometime soon. Some people expressed concern to me over why you are requesting photo ID, when places like Dwolla or Paypal do not. Once you have time to, I think it would be nice to have you explain what sort of legal entity BitcoinUSA is, what sort of banking regulations you have to adhere to and so on.

More importantly, if you registered with FinCen as a currency exchange / money transfer service - you'll need to do something about taxes. All US banks/brokers/forex require form W9. Also, do you plan to report as far as capital gains, cost basis, etc?

This is good news! Any plans to accept cash cards like MoneyPak?

That would be kind of cool. They can be redeemed into a PayPal account.

I submitted my info this afternoon and it said to check email but I haven't gotten anything yet. I forget which, but it was something   @vapelicio.us

Do you think that you could just send the W9 along with whatever packet? I figure that I will hit $600 pretty fast.

I route my site email to gmail, but there was nothing in spam there. Anyhow I got it fixed, thanks. I'll just have to make sure that I am getting whatever automated emails I am supposed to in the future.

Would you describe a little more of the process?

So after I've registered, you have my signed user agreement and I have the PIN that was sent to me, what happens then?

i.e., from your your site do I initiate the transaction which is then presented as an ACH draft to my bank (ACH Pull)?

Will there be a per-trx fee?  Will the BTC/USD price be established at the time that I place the request, or only when the funds for the ACH transaction have arrived?

davidonpda, how do you "legally" obtain bitcoins to sell?  Just curious. 

Do you mean $600 a year?  Or $600 at one time?

I'm pretty sure it is one $600 total has gone through the account in one year, and it doesn't have anything to do with one time.

I was waiting until I got my pin code and going to upload stuff today and check this out.

This looks really interesting and could help bring BitCoin to a wider audience.

Couple questions:
1. Do you keep a copy of the bitcoin software (a wallet) running for each user on the server?

2. Did you or are you planning to be licensed as a money transmitter at the federal level?  If I remember correctly this is what got e-gold in trouble.

Thanks!