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Getting paid in Bitcoin, I do enough trade in localbitcoins that I have cash reserves as needed and anything extra I send back to the exchange.
There are only a few things I need by bank for and I'm working on finding a fix for that.
We are much further than a few years ago and I am sure in a couple more years it will be even easier.
As far as using credit cards not being the same as living off of bitcoins...is your VISA card a dollar VISA card? No. It is merely a payment processor. The credit card company pays your bill in the currency that the business accepts then takes from your account the currency that you use. It could be euros, dinars, dollars, etc. So using your bitcoins as the funding currency is just another option. Most of our daily transactions use payment processors unless you're using cash.
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is this ETH serious ? i sold 1 BTC into it just in case.
scamcoin sorry for your loss |
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So I guess we passed the $266 number too quickly.
Retards will want to stay at that price for a while to make some sort of point like we did on the way down.
We will see the same thing at $666.
btc-e and huobi still below 266 btc-e costs $15 to deposit your money onto the exchange. |
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So I guess we passed the $266 number too quickly.
Retards will want to stay at that price for a while to make some sort of point like we did on the way down.
We will see the same thing at $666.
Still playing with $266. |
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I sent them payment for a bill back on 8/7 and there is no sign of it being paid. I emailed them a couple of days ago and no response.
Are there any other billpay services that are US based or will at least make US payments? It looks like Bylls is doing well but they will not make payments in the US.
8/7 was just a few days ago, do you mean 7/7? If you really just paid them a few days ago, you might want to contact GoCoin to see if they can get your money back. From my contact with GoCoin on 8/4 they said they had "... ceased their normal merchant payouts ..." I'd be surprised if they're even allowing payments to go through, but if they are it would seem that GoCoin should still have the money. Except for what sounded like a copy/pasted form letter email on 7/28 (probably prompted by the reddit posting), I haven't been able to get any other response from BillPayForCoins. This is what they sent on 7/28: We are attempting to recover from some technical and banking issues that we have experienced.
We are processing payments and refunds as quickly as we can.
Rest assured - your funds are safe - we were not hacked, nor have we lost BTC or USD.
-Mark But so far what they say and what they do have been two different things. Realistically, I think the chance of getting my money back is somewhere close to 0% Probably meant 7/8, been in Europe too long. Though I verified the date and it was 7/12. I will eventually have to pursue legal action if nothing is done soon. |
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So to get away from trusted money handlers like banks you just send money to anyone who say they will take your bitcoin?
Anyone who has a computer can set up a web page claiming to do a service but since they do not have to register like banks have they can just take all your bitcoin an put it in ther own pockets and noone can do anything about it. No chargeback you know...
Their business is registered, they'd been around for a while and I even had some discussions with Mark. If I don't get money I will pursue legal action to get it back. At the very least, Mark Vick and Grant Brown are finished with creating any future Bitcoin businesses. |
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How on earth do you think Bitpay can do their operations without buying/selling bitcoin (exchange) or having bank linked customer accounts? You have not thought this through, sir.  I explained: Sorry, I meant "buy and sell from individual customers".
I recall their TOS saying explicitly that you could not use them to turn your bitcoins to cash. Basically they came into play when you clicked "pay with bitcoin" at some merchant; they converted the merchant's price to bitcoin, took your bitcoins, sold them, and sent the dollars to the merchant's bank account.
See, I even put a "sorry" there. They are not a bitcoin exchange (like Coinbase is), and (AFAIK) still take care not to be used as one, precisely so that they do not need to register as MSB/MTB. A payment processor is narowly defined in law: it can only accept payments from consumers on behalf of other merchants, in exchange for goods and services delivered by those merchants to those consumers. They do sell the bitcoins, over the counter or on exchanges (not to the consumers) and take bitcoins from the consumers (but do not give them dollars in exchange). Their clients are the merchants, not the consumers. By the way, here is some analysis of the traffic through BitPay's wallet that I did last December. The source data shows (among other things) their periodic deposits on Bitstamp and other exchanges. I converted 800 bitcoins into cash one time back in the day through BitPay. That was before the Stazi stuff though. |
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Can you use bitcoin debit cards like Xapo to pay your bills, at least the smaller ones?
Good question. I will look into this approach. |
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Wow. That's a lot of money. Not cool. Thank you for the heads up. So they took your bitcoins last month, and then didn't bother to tell you that their bank and been closed until you contacted them! Wow.
They didn't bother to tell me at all. They responded to a reddit thread 2 weeks ago and have since gone silent again. http://www.reddit.com/r/Bitcoin/comments/3eshfl/warning_billpayforcoinscom_is_a_defunct_business/billpayforcoins 5 points 13 days ago First let us start by apologizing for the massive delay. There is no excuse but there is a reason and you deserve to know what happened. The next thing we need to tell you is that we have been working hard (Successfully) to either refund our customers or process payments through other means (More on that later) to Part of the issue recently is that the main person that processes payments was out for nearly a month dealing with some serious family issues.. Technical issues followed which did not allow us access to some key components of the website.. But these have been the least of our problems... and if it wasn't such a difficult and troubling issue this last part would be an interesting conversation piece... When we established the business we made it a point to speak directly to the Bank, explain the business in detail, delivery all of our paperwork and make ourselves available from Day one for any questions that they had. We did this so that we would not have issues with the Bank especially given the fact that we are a bitcoin business. So.. what was the problem?: Despite a through and detailed explanation of our business with people at the highest level at each of these banks and despite the fact that they opened our accounts and approved our business.. within months Bank after Bank closed our accounts without warning, held the funds until they got around to cutting checks back to us (which is odd because once they closed the accounts we no longer had a bank to deposit into), and stopped or ignored payments that we made on behalf of our customers. The first time that this happened we wrote a mass email to customers advising them that we had this issue and that we had found a replacement bank. We did the same thing the second time, and we notified customers the third time. The person that oversees payment processing being out certainly did not help this most recent time. We have opened a new bank account but given the experience that we have had so many times we have continued to process refunds back to customers and process payments using alternative means. We want to leave it to you as to how you would like to proceed. Your Bitcoin is Safe.If you would like us to process a full refund please email us at admin@billpayforcoins.com. Please include your Bitcoin address in the subject line. We have also made ourselves available to speak with customers, so if you would like to speak with us feel free to reach out. Again we apologize deeply for all of the confusion. Bill Pay For Coin, LLC 604 N Scott Avenue Belton, MO 64012 +1 (913) 608-9702 Mark Vick & Grant Brown |
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You can easily double small amounts or gain small amounts of money using large amounts. If you are willing to take risks.
But it is not as simple with larger values.
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Imagine someone steals trillion of dollars per year from people and they use it to go out and bomb and shoot people and kidnap and imprison millions of other people.
Scary thought.
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I have pretty much reached the point where I can live off of bitcoins without using any credit/debit cards. My plan was to reach the point where I can drop my bank. The only thing I use my bank account for at this point is paying my mortgage and my lawn service for the house I have in the US.
Last month I decided to pay a big bill for my lawn service of $750 through BillPayForCoins.com. They ended up taking my bitcoins and not paying my bills (which I just found out last week from my lawn guy). I'm glad I didn't try paying my mortgage last month.
DO NOT USE BillPayForCoins.com!
Their claim is that while one partner was out of town on family issues the bank shut down their account. That's all well and good but they still took my bitcoins and haven't responded to any e-mails or phone calls to get my money back.
This is a major blow toward the idea of having a Bitcoin Bill Pay service in the US. They can do it in Canada and Australia, it appears that the banks in the US are in "then they fight you" phase against Bitcoin.
So what should the solution be? The way I see it, the answer usually comes from technology and decentralization.
I think the way it could be done would be somehow using OpenBazaar to do something like BitQuick where individuals can sign up to use their bank accounts to pay bills and get a percentage of profit. You would have a list of people willing to pay your bills with Bitcoins. You send it through an escrow and the bitcoins could be released upon verification that the payment went through (or a set amount of days). As a bonus, if someone could write a plugin to automatically set up the Bill Payment then it would essentially be a free money generator for anyone running it. Decentralized, people can turn their cash into bitcoins and no way for the banks to shut it down.
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I sent them payment for a bill back on 8/7 and there is no sign of it being paid. I emailed them a couple of days ago and no response.
Are there any other billpay services that are US based or will at least make US payments? It looks like Bylls is doing well but they will not make payments in the US.
No, and it looks like any other company would probably run into the same problem that BillPayForCoins did with their banks shutting them down. Which usually means that the next step would be decentralization and technology. |
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I'm sure this won't last long enough for me to get my euros to the exchanges.
Between my bank dropping me because I'm dealing in bitcoin and my exchange dropping me because I'm American it isn't the easiest thing to get bitcoins these days.
But when I do get my money to one of the exchanges, hopefully the price is in this range. I won't hold my breath though.
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So I guess we passed the $266 number too quickly.
Retards will want to stay at that price for a while to make some sort of point like we did on the way down.
We will see the same thing at $666.
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Wow, JorgeStolfi actually has some sound advice finally. It's not that your passphrase isn't awesome, but most websites and logins that have a password cannot be hacked because it is difficult to determine that password due to restrictions on repetitive guesses. When I graduated college in 1997 I wrote a quick program to guess passwords by a simple changing of letters in a large string of characters just to see how easy it was to figure out my own password. A quick program at the processing power of the time took less than 30 minutes for a seemingly strong password. Back in that day you could continually try passwords no problem, the server would not kick you out. As I am not a hacker, that's about the furthest I went into the hacking world. With brain wallets there is no server side prevention for guessing as many times as you want to guess your pass phrase. If it is not more complicated than a private key, it will be guessed. |
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tux using the stolen btc to bribe the judge?
That could be a possibility, if he is truly the one who stole it. Has anyone seen any of those coins move? I haven't been following the case much. Imagine what happens when he makes this offer to the judge and he doesn't like it .... Then he just says he didn't offer him anything since it's intangible. |
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