Sort of yes. But bit-pay.com is not a one stop payment processor. It is only for bitcoins. If bit-pay.com accepted paypal, visa, mastercard, checks etc, then it would what I was looking for
If you have any leverage at these credit card billers, Bit-pay would be willing to work with them to do their bitcoins behind the scenes. So they can offer it, but not have to mess with it. CCBill is another one that alot of people use. If they are interested, have them contact us! Thanks! do u have any merchants yet? i couldn't find any on your website? btw, is Alison coming to BitCon?  |
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sounds like you're looking for Bit-pay.com
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oh i forgot. throw in a bunch of SHOE BUSINESSES!!!
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start a bunch of Bitcoin CLOTHING BUSINESSES.
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having traded markets for years i wouldn't be surprised if this rumor turns out to be true.
if there's anything you learn about Wall St is that they'll make a market in anything if there's money to be made.
i'm sure Bitcoins rise has caught their attention at the very least. i could see them setting up a derivatives desk based on trading Bitcoin. these are just side bets on an underlying commodity anyways. don't need to own the underlying reference asset.
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LOL
My favorite quotes from Dwolla CEO
“I’m the dumbest guy in the room,” said Milne, who spoke to a Business Innovation Zone of Central Iowa event.
“Can you really see me running a company of 1,000 people?” said Milne, who was wearing a “I Dwolla in DSM” T-shirt, jeans and sneakers during his presentation at the Greater Des Moines Partnership.
Maybe you one of those 1,000 people should be a PR guy....
i find it difficult to believe they'd have 1000 employees given how poorly trained their phone support is. |
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Dwolla and CampBX are discussing a solution to the problem and everything seems to be going fine. MtGox is ok with this (I haven't heard anything from them). Why is TradeHill the only one being ignored? This doesn't make much sense to me...
That seemed very odd to me as well. As I hypothesized on another thread, perhaps there are NSL's involved. http://en.wikipedia.org/wiki/National_Security_LetterMt Gox confirmed some transactions have gone missing on IRC and possibly a post. exchangebitcoin.com confirmed it and isn't accepting Dwolla, Bitcoin7 isn't accepting Dwolla and I've been told they confirmed the chargebacks. It's 100% possible that CampBX didn't receive any chargebacks. If I have to guess it's because they didn't have the open orders to justify defrauding 5k or they thought they would get caught faster with lower volume to hide in. If that's the case good for them. Dealing with fraud isn't fun. I'm assuming if they continue to accept Dwolla and nothing changes they will see fraud. Jered Excuse the repeated question Jered, but did any of your customers lose money in this? That's really the only concern I have. Valid question, we are willing to pay out of our own pockets. Had this been higher and we couldn't cover it ourselves yes they would have. If another exchange is down 50k 100k or 500k and can't afford it then they could go under and their (which a lot are also ours) customers will be hit hard. It's possible that our mutual customers are going to lose money but it's too soon to say for sure. To sum it up: We're not going to pass the fraud on to our customers like Dwolla has done. It stops with us because we will eat it if Dwolla doesn't do the right thing. Jered well thats laudable. |
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i like the part about "digital currency guru"  Yeah, heh those are the terms that journalists use for people who don't really have a formal title. So the most formal publishings would call me an expert. Mid tier (like this) use guru. Tabloids would say boffin. They could also have called me the founder of GLBSE. or "the Silk Road Affiliate". |
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This could mean that some exchanges no longer have the funds to cover all their liabilities, and are now operating on a "fractional reserve" model where they just hope everybody won't withdraw their money all at once. Kinda scary.
this is an overstatement by a long shot. remember this is an exchange, not a bank. ppl move money in and move money out rather quickly for the exchange only. no one is paid any interest like a bank therefore no one has an incentive to leave money there on a long term basis. this is why exchanges don't make loans and are thus not "fractionally reserved" in the traditional sense. i suppose if mtgox got defrauded lets say $35K (they did say less than TH), then yes, on an absolute basis they might be a bit short but considering they have hundreds of thousands in USD and BTC it won't be a problem. |
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http://agoristradio.com/?p=438listen to this very interesting Agorist Radio podcast History of the Cypherpunks. its been a coupla months since i listened to it but a central point from the panel discussion was that banks LIKE chargebacks b/c it gives them an excuse to charge higher fees. in Dwolla's case, in order for them to survive IMO the only choice is for them to charge more. i've never understood how they could make money at $0.25 per tx.
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Wikipedia:
Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid. Estimates of remittances to developing countries vary from International Fund for Agricultural Development's US$301 billion (including informal flows) to the World Bank's US$250 billion for 2006 (excluding informal flows).[1] Remittances contribute to economic growth and to the livelihoods of people worldwide. Moreover, remittance transfers can also promote access to financial services for the sender and recipient, thereby increasing financial and social inclusion. Remittances also foster, in the receiving countries, a further economic dependence on the global economy instead of building sustainable, local economies.
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i like the part about "digital currency guru" |
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i subscribe to an investment newsletter from a guy that thinks currencies will be the investments of the near future. which one is the question and the choices include gold/silver/bitcoin along with fiat.
if i was an ATT, i would link my text messaging services with other intl carriers to set up a global network and get into the global currency exchange business.
this way when the wife receives the SMS from the husband in USD working in the Fresno fields, she could convert them into the pesos instantaneously thru her Mexican phone carrier from her beachside hacienda.
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edit: once VZ, ATT, etc realize what they're dealing with i can see no reason why they wouldn't want to get in on the game. it could be a huge new profit center for them.
Yes. But it also needs a lot more bitcoin infrastructure in place globally, like handy ways to convert BTC to local currency or buy things locally with BTC. yes. but really the wife should be no more limited than you are in converting btc to local currency. she could use mtgox or any of the exchanges (public or anonymous like Ubitex) that trades her local currency and then obviously she could do this face to face or at a Meze Grill like retailer, etc, etc. |
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this is going to be HUGE.
husbands can text btc/remittances to families across borders instantly.
why is this hard to understand. This is not about texting BTC to someone, it's about buying BTC through your phone-bill through billed sms. Or am I the one misunderstanding something here? Maybe the idea is to have the remote family text a bitcoin public address (without typos) to the husband, then the husband in the UK (or wherever the service exists) enters that address on the site and pays via SMS. But the remote family still has the problem of converting the BTC to something usable where they live. exactly. why is this so hard to understand? the wife converting shouldn't be a problem in most jurisdictions esp. if she has an exchange acct. she can call her husband and READ the address to him. Ok, I think I understand the use-case now. Compared to the husband putting the money on mtgox first, buying bitcoin and making a bitcoin transaction to the wife, he just uses textcoin.co.uk using wife's bitcoin address, right? Pros: - it's faster (no delay for money to arrive at mtgox)
- husband needs the acutal money later (phone bill)
Cons: - It's more expensive (25% to the phone company plus maybe textcoin unvaforable exchange rate)
I'm sorry for misunderstanding. Did I get it right now? yes. and the con is trivial for some ppl who need to get money to travel long distances conveniently and will only get better as price competition comes from more carriers getting involved. compared to USD money exchangers this should be cheap. imagine; no more banks or exchanges or Paypals or Dwollas! edit: once VZ, ATT, etc realize what they're dealing with i can see no reason why they wouldn't want to get in on the game. it could be a huge new profit center for them. this will be a great way to fracture corporatism pitting carriers vs. banks; not vindictively but with a great idea. |
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Suppose you had dollars in Dwolla today. Would you transfer it to Mt. Gox or return it to the bank?
i was nervous enough to cancel a bank transfer to dwolla at a cost of $60 to me today. |
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can you display volume on the mtgox chart feed?
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what POS device are they using? is hooked up to mtgox?
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i wondered the same thing just based off you're first email.
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you can tell Dwolla is still a rookie organization based on my conversations with their telephone contact person Ben.
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