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Title: Bit-Pay for Mining? Post by: the joint on January 22, 2012, 09:10:29 PM Has anyone thought about this yet?
Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? Title: Re: Bit-Pay for Mining? Post by: rjk on January 22, 2012, 09:16:19 PM Has anyone thought about this yet? EclipseMC already offers this in the form of a PayPal cashout option, but this would be a good thing to have for other pools.Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? Title: Re: Bit-Pay for Mining? Post by: the joint on January 22, 2012, 09:18:01 PM Has anyone thought about this yet? EclipseMC already offers this in the form of a PayPal cashout option, but this would be a good thing to have for other pools.Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? I'd prefer direct deposit to PayPal. PayPal can kindly suck it. But duly noted. Title: Re: Bit-Pay for Mining? Post by: Littleshop on January 22, 2012, 09:21:21 PM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? sign up with pimpcoin.com and point your mining payouts to it. :D Title: Re: Bit-Pay for Mining? Post by: Phinnaeus Gage on January 22, 2012, 09:26:39 PM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? I believe that you can direct deposit into your MtGox account with only one easy step, albeit it'll take at least 7 steps to get it back out. http://t2.gstatic.com/images?q=tbn:ANd9GcTJR0XY4TFh3NGXLSjpOl5_jxx4iX234adcHmkP3UGZMHoeXZF3sBpXnNgn Title: Re: Bit-Pay for Mining? Post by: gnar1ta$ on January 22, 2012, 09:28:04 PM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? sign up with pimpcoin.com and point your mining payouts to it. :D Or a Bit-Pay deposit card.... https://bit-pay.com/cards.html (https://bit-pay.com/cards.html) Title: Re: Bit-Pay for Mining? Post by: BitPay Business Solutions on January 22, 2012, 09:29:24 PM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? sign up with pimpcoin.com and point your mining payouts to it. :D This would work, although we don't recommend it. It's like running your own credit card on a sale at your own business to live off the float. Title: Re: Bit-Pay for Mining? Post by: the joint on January 22, 2012, 09:34:45 PM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? sign up with pimpcoin.com and point your mining payouts to it. :D This would work, although we don't recommend it. It's like running your own credit card on a sale at your own business to live off the float. I could easily see you guys banking huge if you teamed up with some pools to offer this feature (of course, promising not to release any banking info to the pools themselves). Title: Re: Bit-Pay for Mining? Post by: CoinExchanger on January 22, 2012, 09:36:25 PM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? I believe that you can direct deposit into your MtGox account with only one easy step, albeit it'll take at least 7 steps to get it back out. http://t2.gstatic.com/images?q=tbn:ANd9GcTJR0XY4TFh3NGXLSjpOl5_jxx4iX234adcHmkP3UGZMHoeXZF3sBpXnNgn Business is booming on our side, precisely because we do NOT require any type of personal documents for you to get your money. We offer instant withdrawals 24/7. Visit, www.coinexchanger.com PS. If for any reason you can NOT get "verified" with MtGox, and you need your money, they will go into a "detailed review" of your account which could take months to complete. Only then they will refund your account. BEWARE! Title: Re: Bit-Pay for Mining? Post by: pirateat40 on January 22, 2012, 09:45:18 PM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? I believe that you can direct deposit into your MtGox account with only one easy step, albeit it'll take at least 7 steps to get it back out. http://t2.gstatic.com/images?q=tbn:ANd9GcTJR0XY4TFh3NGXLSjpOl5_jxx4iX234adcHmkP3UGZMHoeXZF3sBpXnNgn Business is booming on our side, precisely because we do NOT require any type of personal documents for you to get your money. We offer instant withdrawals 24/7. Visit, www.coinexchanger.com PS. If for any reason you can NOT get "verified" with MtGox, and you need your money, they will go into a "detailed review" of your account which could take months to complete. Only then they will refund your account. BEWARE! 6% on withdraws is a bit high even for me. Title: Re: Bit-Pay for Mining? Post by: MaxSan on January 23, 2012, 01:02:37 AM Ruxums pool offered this. Payout in like 14 currencys or something.
Just need miners on it ! Title: Re: Bit-Pay for Mining? Post by: CoinExchanger on January 23, 2012, 01:15:40 AM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? I believe that you can direct deposit into your MtGox account with only one easy step, albeit it'll take at least 7 steps to get it back out. http://t2.gstatic.com/images?q=tbn:ANd9GcTJR0XY4TFh3NGXLSjpOl5_jxx4iX234adcHmkP3UGZMHoeXZF3sBpXnNgn Business is booming on our side, precisely because we do NOT require any type of personal documents for you to get your money. We offer instant withdrawals 24/7. Visit, www.coinexchanger.com PS. If for any reason you can NOT get "verified" with MtGox, and you need your money, they will go into a "detailed review" of your account which could take months to complete. Only then they will refund your account. BEWARE! 6% on withdraws is a bit high even for me. Thank you for your feedback pirate. We now lowered our fees to 3.5%!! Title: Re: Bit-Pay for Mining? Post by: the joint on January 23, 2012, 01:16:23 AM Ruxums pool offered this. Payout in like 14 currencys or something. Just need miners on it ! Why the hell isn't this implemented everywhere? If everybody's so worried about being able to convert Bitcoins into (insert currency here) quickly and easily, wouldn't this be an easy solution to ease the worries of miners looking to recoup their hardware investment? Title: Re: Bit-Pay for Mining? Post by: BadBear on January 23, 2012, 01:26:51 AM A lot of people who are still mining are long term holding, or accumulate and sell into peaks.
Title: Re: Bit-Pay for Mining? Post by: the joint on January 23, 2012, 01:30:40 AM A lot of people who are still mining are long term holding, or accumulate and sell into peaks. Sure, I get that, but the fees taken from withdrawing from an exchange might minimize the profit generated from selling into short peak, especially if we're talking about a wire transfer. Why not simply make it a payment option like PPS or proportional (i.e. PPS, proportional, or direct deposit)? Title: Re: Bit-Pay for Mining? Post by: pirateat40 on January 23, 2012, 01:35:01 AM Has anyone thought about this yet? Bit-Pay allows for merchants to essentially accept Bitcoins as cash that gets deposited directly into their bank accounts. Is there any way to extend this service to allow a miner to instantly convert pool payouts into cash that is also directly deposited into his/her bank account? Edit: I think Bit-Pay could REALLY profit from this. Edit 2: Hey Bit-Pay, could I arrange something like this with you individually? I believe that you can direct deposit into your MtGox account with only one easy step, albeit it'll take at least 7 steps to get it back out. http://t2.gstatic.com/images?q=tbn:ANd9GcTJR0XY4TFh3NGXLSjpOl5_jxx4iX234adcHmkP3UGZMHoeXZF3sBpXnNgn Business is booming on our side, precisely because we do NOT require any type of personal documents for you to get your money. We offer instant withdrawals 24/7. Visit, www.coinexchanger.com PS. If for any reason you can NOT get "verified" with MtGox, and you need your money, they will go into a "detailed review" of your account which could take months to complete. Only then they will refund your account. BEWARE! 6% on withdraws is a bit high even for me. Thank you for your feedback pirate. We now lowered our fees to 3.5%!! Now we are talking!!! Title: Re: Bit-Pay for Mining? Post by: rjk on January 23, 2012, 01:35:40 AM What I want is a bot to monitor the market, and determine the best time to sell my mining profits. Then it could be completely automated using an exchange's API. It wouldn't sell unless it met a minimum target amount, and then it would immediately withdraw. In my case, any withdrawals sent to Dwolla are automatically credited to my bank account, no button pushing needed.
Title: Re: Bit-Pay for Mining? Post by: DeathAndTaxes on January 23, 2012, 06:15:35 AM A lot of people who are still mining are long term holding, or accumulate and sell into peaks. Sure, I get that, but the fees taken from withdrawing from an exchange might minimize the profit generated from selling into short peak, especially if we're talking about a wire transfer. Why not simply make it a payment option like PPS or proportional (i.e. PPS, proportional, or direct deposit)? Why would that be lower fees. What do you think the pool operator is doing behind the scenes. Hint #1: Selling bitcoins on an exchange for fiat (same fees) Hint #2: Performing ACH transaction to deposit funds (same fees) Title: Re: Bit-Pay for Mining? Post by: rjk on January 23, 2012, 08:56:28 PM What I want is a bot to monitor the market, and determine the best time to sell my mining profits. If you can do that successfully, forget mining, just buy and sell. Might as well forget Bitcoin while you are at it, I'm sure there are other, easier to time markets. I mean, if your goal is simply fiat gains. ;D Title: Re: Bit-Pay for Mining? Post by: BitPay Business Solutions on August 29, 2012, 03:50:48 AM We have now launched this service. Limits apply $1000 USD per day, but anyone mining that much in a day probably already has a cashout system figured out
https://bitpay.com/bitcoin-mining-payouts (https://bitpay.com/bitcoin-mining-payouts) We also support bitcoin to bank deposits to 9 other countries https://bitpay.com/bitcoin-direct-deposit (https://bitpay.com/bitcoin-direct-deposit) Title: Re: Bit-Pay for Mining? Post by: mokahless on January 09, 2013, 08:30:28 PM We have now launched this service. Limits apply $1000 USD per day, but anyone mining that much in a day probably already has a cashout system figured out https://bitpay.com/bitcoin-mining-payouts (https://bitpay.com/bitcoin-mining-payouts) We also support bitcoin to bank deposits to 9 other countries https://bitpay.com/bitcoin-direct-deposit (https://bitpay.com/bitcoin-direct-deposit) This looks to be an interesting service. How do I sign up as a non-merchant to access this service? the signup currently redirects to the merchant sign up. Title: Re: Bit-Pay for Mining? Post by: eldentyrell on January 16, 2014, 05:47:07 PM In case anybody's wondering, Bit-Pay discontinued this service a while back.
I guess I sorta understand that given the regulatory environment, but I have to say I'm a bit disappointed that they did it without saying so (check archive.org). I contacted bit-pay and they confirmed this. |