Bitcoin Forum

Ive been mining and speculating and trading for a couple of months now and one of the things that put me off were the janky intermediaries to get dollars into the markets.  Dwolla was really great with its low tx fees and direct access to my bank.  I had set up an account with LR but was disappointed to learn that the only way to fund my account was through an additional layer of Nigerian Donkey porn exchanges.  While paxum looks ok, the fees are too high IMO.  Some of the exchanges let you snail-mail checks to them but jeez that is so slow.

If a gov't wanted to squeeze bitcoin out of existence, I think this area would be the first target.

Dwolla is still accepted by MtGox.

Dwolla is adding some extra requirements though (photo id), but has not raised fees AFAIK.

Oh! thank goodness for that!

Added extra requirements, only???

Dwolla will be replaced very soon

I hope so. Not planning to add it to my exchange as I want to be in the business of building an exchange, not of charging high commissions to insure against chargeback fraud.

i doubt it,
although i would love for that to happen

I recently open an account with them, i just hope they dont turn into another paypal clone.

I'm not understanding the Dwolla haters. Low fees, pretty quick transaction processing, seemingly ethical folks running the place. I've been using them since before I started this thread.

I guess I should ask, Why the hate?

Please add 'Fraud' to the list.

Dwolla: We don't do chargebacks.
Tradehill: Okay great.
Dwolla: Haha we changed our minds.
Tradehill: Oh sonnabitch! We are going to sue you in the face.

What are the real benefits of Dwolla?

I saw that the BFL mining software could deposit directly to dwolla. Pretty slick. They are like a cheaper paypal that doesn't suck.