How can I buy a money order? New to the whole field.
Western Union and MoneyGram [money orders] (from most grocery stores and check cashing places) and USPS money orders from the post office. |
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ok for the send all btc to myself method, do I have to generate a new receiving address? or can I use one of my old address that already had transactions?
Consolidating your coins won't reduce your fees though, it will only make it so you pay a big amount during the consolidation step and not a little amount during each spend transaction. Bitcoin was not built to be a microtransaction system. 0.002 BTC is an amount worth a U.S. penny. The costs for doing that transaction (transferred and stored at thousands of nodes) are currently being subsidized by the amount of currency that is issued (50 BTC per block, about 7,200 BTC per day, or about $36K USD per day) to the miners. At some point a lower the miners will start forcing these larger sized transactions to cough up a higher amount for the transaction fee. So, while the transactions are cheap today, feel free to take advantage of it while it lasts (maybe months, maybe years?). Just know, this probably won't be the situation forever. |
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It seems like this current structure lends itself to local bitcoin dealers making the exchange. Here's a forum thread where people want to trade their MTGUSD and Bitcoins for your Dwolla USDs. - http://bitcointalk.org/index.php?topic=78512.0 |
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In 48 hrs I should have rest of my money, and then I will give them another chance, hopefully this time everything goes as planned.
Aurum X Change handles numerous types of funds transfers. Are you reporting a problem specifically this for this Withdraw2Card method or some other service from them? |
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OMG, TEH DEFLATIONS! Economists and others stuck on this deflationary spiral never consider transaction costs in their arguments. Why not? When I spend a $100 on something and pay using a payment card, the person I'm making the purchase from gets $97. So the merchant that accepts payment cards raises the price charged for the good 3% more than it would otherwise need to be. When I spend using bitcoin, that transaction cost -- even when exchanging to and from fiat on both ends -- is a fraction of that level. So with USD you have a currency that inflates at 1.5% per year but has transaction costs of 3% for each time the funds are turned over. With Bitcoin you have a currency that will (eventually) inflate at a much lower level but whose transaction costs are just 1% or less, for example, with each turn of the money. So at the point-of-sale, the customer is asked to choose: Option A.) For about $103 USD using your payment card you get $100 worth of goods. Option B.) Optionally, you can pay using bitcoins, first convert $101 of your USDs to get $100 worth of Bitcoins and then with that you are able to purchase $100 worth of goods. Which option will the consumer choose? And thus, even with an expected increase in the value of bitcoin, using Bitcoins will continue to be the choice made when making payments. ----- Faced with competition at the point of sale, an argument would be that the payment card transaction will drop to a more competitive level. A 2% or so difference is enough of an incentive to switch for many consumers. 1% ... not so much. What might happen though is normal payment flow will move over to bitcoin to take advantage of the discount, but the payments occurring from fraud can't (or at least if it does those losses won't be borne by the banks or the issuer) and as a result that 3% truly might be the actual floor that payment cards can still function at profitably. Incidentally, Bitcoin's currency inflation rate just dropped below 30% per annum and slowing each and every day. When the block reward drops in half around December, its currency inflation rate will drop from about 25% to just 12.5% per annum. So Bitcoin still is at a rapid inflationary level yet hoarding also is happening at the same time. tl;dr: The appreciating value of the currency is not the only factor used when choosing which method to use when making a payment. The cost savings from using Bitcoin more than offsets the cost to replenish the amount of bitcoins used for spending, thus protecting it from any deflationary spiral. (this is a cross-post from here: https://bitcointalk.org/index.php?topic=3040.msg876761#msg876761 ) |
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Gumroad works worldwide with all major credit cards, and can be used for digital content as well as for physical content, since it lets users collect shipping information if needed. Gumroad takes a 5 percent fee for every payment processed, along with a 25 cent credit card fee. So if an item costs $1, Gumroad takes 30 cents; if an item costs $10, Gumroad takes 75 cents.
Gumroad Gets $7 Million Series A From Kleiner Perkins For Indie E-Payment Platform - http://techcrunch.com/2012/05/07/gumroad-7-million-series-a-kleiner-perkins/Comparing CoinDL: If an item costs $1, CoinDL takes 20 cents; (versus Gumroad taking 30 cents) Advantage CoinDL. If an item costs $10, CoinDL takes $2.00; (versus Gumroad taking $0.75). Advantage Gumroad. This difference is something that is noticed. Example: - http://bitcointalk.org/index.php?topic=77691.0 |
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[MintChip] isn’t an alternative currency in that it’s a digital representation of the sovereign currency — the Canadian dollar. Nevertheless, digital money geeks are atwitter, especially with comparisons to Bitcoin. Wired: I’ve read that MintChip is just a central bank’s attempt to come up with its own version of Bitcoin. Is that accurate or bogus? Why? Brule: As mentioned previously, the Mint has been following the digital-payment space for a long time. Through our early research, we discovered some market needs that we felt were not addressed with current payment offerings. Wired: You recently said that Bitcoin works for the small group of people who believe in its value. Can you speak a little to that pixie-dust aspect of currency and money? I mean, it’s true that more people currently believe in the value of Canadian dollars than Bitcoin, but that’s an equally ethereal phenomenon, is it not? Brule: All currencies rely on the underlying belief by people who use them – that they have and will have value. So in that way, you could argue that all currencies are ethereal phenomenon. MintChip, backed by hard currency held in trust, could gain wide acceptance on its applicability. - http://www.wired.com/threatlevel/2012/05/mintchip/ |
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Noticed this: OKPAY is adding 14 new currencies!
We are pleased to announce that OKPAY has expanded the list of supported currencies. Additional currencies are now available for funding of the OKPAY account balance via wire transfer as well as for wire withdrawals and online purchases. There are now a total of 19 currencies supported by OKPAY!
Now you can pay, send, receive and hold funds in CZK (Czech Republic Koruna), AUD (Australian Dollar), CAD (Canadian Dollar), JPY (Japanese Yen), NOK (Norway Krone), SEK (Swedish Krona), DKK (Danish Krone), HRK (Croatian Kuna), HUF (Hungarian Forint), NZD (New Zealand Dollar), PLN (Polish Zloty), RON (Romanian Leu), TRY (Turkish Lira) and ZAR (South Africa Rand). Already available to OKPAY clients currencies include USD (US Dollar), EUR (Euro), GBP (Pound Sterling), RUB (Russian Ruble) and CHF (Swiss Franc).
Even local businesses and markets dealing with local currencies only can sign up for OKPAY to receive payments online both locally and globally that will gain access to even more buyers, when selling internationally. And of course you will be able to withdraw funds in one of the supported 19 currencies via bank wire transfer. Wire withdrawals are also available in all new 19 currencies supported by OKPAY. You can easily send wire transfers not only in the usual USD, EUR, GBP, RUB, CHF but also in the newly added 14 currencies!
Wire transfers commission for new currencies will be the same as for the payments in USD: incoming bank wire transfers fee is 1% (min. $12, max. $20), outgoing wire transfer fee is 1% min. $15; in the USD equivalent according with the actual currency exchange rates. Additional information can be found on the Service Fees page.
Bank service is provided by UWC Financial Services Ltd. - https://www.okpay.com/en/company/news/okpay-adding-new-currencies.html |
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Does anyone have a recommendation for a bank that one can easily (or semi-easily) transfer from LR? This account would be for legal actions (such as paying off mortgage, etc) but being offshore (so not US-based) would be ideal.  AurumXChange does LR -> Wire transfer for a relatively decent rate: - http://www.aurumxchange.com/ratesAnother option might be to get a reloadable debit card that you can use then to withdraw cash at an ATM, such as the one from OKPay. |
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It's beginning to sound like the chicken and the egg conundrum. Clients can't generate new blocks to confirm transactions, while miners can't proliferate blocks generated under different rules.
Miners can't force users to download and run new versions of the client software that would allow the new rules (which violate the established Bitcoin protocol) to be supported. Users won't support changes that bring them negative economic consequences (e.g., actions like issuing currency faster, which debases their holdings). If there ever were a chance of disruptions, commercial mining operations being built and run as protection would probably be the response. |
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The venture will be web-based, and people will need to "trust" me with their bitcoins (probably very small quantities, to start with) to make use of the service. So, I'm trying to figure out how to build up trust.
It also depends on how long you need to hold the coins for. A gambling site that holds funds until some future event occurs, for instance, is much riskier than one that pays out in the same day. But ya, reveal your real identity, add a +1 if someone from this community has met you in person, etc., and you'll probably have o problem with the trust. The other thing though, is that trust means not only does the person have integrity but that they are doing the right things. If you are holding other people's bitcoins, are your systems secure, are you storing coins not needed immediately in offline air-gapped cold storage? etc. |
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Are you interested in competitions for other, third party configurations?
For instance, if there was enough people that used the OSCommerce Bitcoin Payment Module who were to put together a bounty to learn if it had any vulnerabilities, would that be something you'ld consider offering?
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1) Generate a BTC address for every user, who has posted at least N comments in last X months.
3) Every time you mod a comment or article, coins are transferred
Comments and suggestions are welcome.
Paying using a quantitative metric and not qualitative metric will likely not give the results you are looking for. Especially if a bot can profit from it. As far as a forum which acts as a wallet as well, Ogrr does this. Witcoin used to do this. It's quite a task to get users to pay: Witcoin couldn't figure out how. CoinSmack was along the same lines: - http://coinsmack.comThere have been calls from Reddit /r/bitcoin to add these features (e.g., tipping). Reddit is open source so it may happen someday. Quora has a Quora credits incentive system that has had mixed reviews. There should be a winning approach where micropayments can help build and foster community and participation, but it has been elusive so far. I see success from the crowdsource microlabor task platforms (TaskRabbit, Zaarly, etc.) but those are a "do this and get X" type of concept. When it goes lower to Q&A types of sites (e.g., Quora, Reddit) or Forums, people won't pay for service nor tip. At least that's that what I'm seeing. |
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Hey, you incorrectly quoted me.
Doh! Sorry. Fixed. |
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The #bitcoin-otc Web of Trust (WoT) can be used to help ensure that you are trading with a trusted counterparty. - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer - http://bitcoin-otc.com/viewratings.php - http://www.bitcoin-otc.comIf the party selling the Mt. Gox USD doesn't yet have a trust rating, then the party buying and paying with Dwolla could even request the assistance of an escrow partner. Escrow partners would consider providing this service since Mt. Gox USD redeemable codes have some of the same properties as bitcoins in that they are non-reversible (at least this has been true so far) and incur no fee when transferred. - http://webchat.freenode.net/?channels=#bitcoin-escrowThere's no reason this thread needs to be restricted to just trades to and from Mt. Gox. This would be useful for trades between Dwolla USD and any exchange that offers redeemable codes or account-to-account (A2A) transfers: - Mt. Gox (USD and BTC) - Bitcoinica (USD and BTC) - BitStamp (USD and BTC) - CryptoXChange (USD and BTC) - BtcTree (USD and BTC) - BTC-E (USD) - AurumXChange VouchX (USD and EUR) - http://en.bitcoin.it/wiki/Redeemable_code |
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I'm stuck in this same situation sadly. Oh well I guess I will just wait 27 more days  There are people who have Mt. Gox USD and are willing to trade a MTGUSD redeemable code for your Dwolla USDs, person-to-person: - http://bitcointalk.org/index.php?topic=78512.0 |
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Lets talk other options from getting money from MtGox to our bank accounts (and vice versa).
Here's a thread specifically for those wishing to trade MTGUSD redeemable codes for Dwolla and vice-versa. - http://bitcointalk.org/index.php?topic=78512.0 |
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It seems that anything in Dwolla that touches MtGox is subject to major delays. I don't know in this case whether the delay is due to lack of funds in MtGox's Dwolla account, or whether Dwolla is purposely delaying things, but I honestly suspect the latter.
The last word on the support announcement: Update (28/4/2012): Dwolla transfers are still delayed. While any outstanding withdrawals will be processed, transfers will happen at a significantly reduced speed. Any users who are concerned about their withdrawal are encouraged to contact Mt.Gox Support, and if so desired, cancel their withdrawal. - https://support.mtgox.com/entries/21290798-dwolla-delaysThe wording of that (and an earlier status) makes it appear not be that Mt. Gox isn't willing to transfer sufficient cash to Dwolla but that Dwolla has limits as to how much of transfers they are allowed to perform. There have been reports of Dwolla users sending funds to other Dwolla users after withdrawing from MtGox, and being subjected to several day delays, instead of it being instant as usual. There was a SINGLE report of that, and that single incident was resolved two days within a week after it was reported. - http://bitcointalk.org/index.php?topic=77605.msg869301#msg869301 |
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