|
If you are planing on ordering and think you have any of these problems contact me first lol.
Fraud Filter: IP-Shipping Address Mismatch Filter, Shipping Address Verification Filter, Regional IP Address Filter, Shipping-Billing Mismatch Filter, Enhanced AVS Handling Filter
|
|
|
|
|
Email was sent, It will not catch that snazy email filter you got will it?
|
|
|
|
|
These are the best type of things I read on this forum. I'm glad to see it, it's as step in the right direction.
|
|
|
|
|
Its working now I tested it myself. Authorize.net had not put my account number in the system yet.
All 5 are still left!
|
|
|
|
Something a friend made for me  , Do not know how great it is going to be or if Im even going to pursue it.  |
|
|
|
|
Limited on funds its a start up out of my own pocket. I need all the coins I can get my hands on for inventory.
Sales on Hold Waiting for Authorize.net to fix the gateway.
|
|
|
|
Like I just told someone else, When the man with gun and the badge comes and say do this, as long as you say "yes sir" you should be ok. Its still a really gray area. It will take a landmark case about virtual currency's to set this in stone.
Just tell them its a lot easier to bribe cops with bitcoin. Don't have to he is reading i'm sure lol |
|
|
|
|
Like I just told someone else, When the man with gun and the badge comes and say do this, as long as you say "yes sir" you should be ok. Its still a really gray area. It will take a landmark case about virtual currency's to set this in stone.
|
|
|
|
|
guys who got errors before try it again I think its fixed.
|
|
|
|
|
If bitcoin is stored value so is wow gold lol.
|
|
|
|
I was looking at starting up a site that would sell bitcoins through credit card transactions as a US based business. Not wanting to run into immediate regulatory problems I gave FinCEN (Financial Crimes Enforcement Network) a call. It took them a couple of weeks to get back to me but the answer was yes that business would be required to register as a Money Service Business.
One can't simply register as "A" Money Service Business. MSB is a catch-all for 10 different types of specific business activity that requires registration. So of course this FinCEN agent told you specifically which type of business activity to indicate on the registration. Right?  Can't see how bitcoins or credit cards fit in to that at all lol |
|
|
|
I dont sell bitcoins I sell Private keys  . |
|
|
|
Heh, and thats the easy part!
You also need to do the following, just off the top of my head:
- Quarterly audits that you pay for
- Every 6 weeks you need a verified and updated AML Program
- Attend BSA training twice a year
- Bend over backwards and get anally raped every day....
Oh, you also need at least two people, right? IIRC, every MSB requires a compliance/risk officer, who is separate from the person(s) handling money day-to-day. I believe this to be true, but not 100%. FinCEN would probably reject 1-man shows though. Money Services Business - The term "money services business" includes any person doing business, whether or not on a regular basis or as an organized business concern, in one or more of the following capacities:
(5) Money transmitter. <<<<<<<<<<<<--------------------- That is what makes bitinstant
Ya, the first part of your comment is true forsure! Money Service Business is not the same as a Money Transmitter and you can be an MSB and not an MTB (4) Seller or redeemer of traveler's checks, money orders or stored value. <---- This is what BitInstant is. I see the BitInstant Foundation For The Prevention of Competition circlejerk has arrived to dispense their usual, shitty legal advice.
What? What kind of snide comment is this? I commented on this thread to help those who have questions and provide my input. We've spent over 100k on lawyers, why shouldn't I be able to provide help and advice? If you don't want it, leave. Every competitor of BitInstant are friends with us, and we all help each other out for a bigger pie instead of fighting over the small slices we have now. Please don't make comments you don't know to be true, just makes you look dumb. I knew it was something like that but I figured since you guys did bank to bank thats what it fell under I am sorry for the mistake. |
|
|
|
|
Got the new Processing system working check it out!
|
|
|
|
|
Well see look at it this way Bitinstant is a money transfer service. You give them money they give someone else money.
Money Services Business - The term "money services business" includes any person doing business, whether or not on a regular basis or as an organized business concern, in one or more of the following capacities:
(1) Currency dealer or exchanger.
(2) Check casher.
(3) Issuer of traveler's checks, money orders or stored value.
(4) Seller or redeemer of traveler's checks, money orders or stored value.
(5) Money transmitter. <<<<<<<<<<<<--------------------- That is what makes bitinstant
(6) U.S. Postal Service.
|
|
|
|
I was looking at starting up a site that would sell bitcoins through credit card transactions as a US based business. Not wanting to run into immediate regulatory problems I gave FinCEN (Financial Crimes Enforcement Network) a call. It took them a couple of weeks to get back to me but the answer was yes that business would be required to register as a Money Service Business.
I can only see that if you buy and sell them on the same site. If you are just selling them there should be no need for that. Bitinstant is great example why. Reason being you move funds to and from your bank account. If funds are just moving one way it should not be any problem to them as long as you pay your taxes. I recently started selling coins for credit card and that's the answer I got when I called. I have talked to the Attorney General office and the S.E.C. When exactly did you call them? Did they state exactly why? were you going sell and buy coins? I mean credit cards are easy to monitor its bank transfers they are really worried about. |
|
|
|
|
Failure is not doing something... maybe in your book but not mine.
|
|
|
|
|
How do you know what I'm doing and what my cost are lol? If you do not like the idea fine do not use the service and go away already, if anyone is actually interested I will be happy to talk with you in private about profit margins and things of that nature. Everything has a first just cause it has not been done yet does not mean it can not.
|
|
|
|
|
Believe me I am working on a system if it was ready go I would have already Released it.
New system addon's
1. Must be a member with Phone Verification for transactions over 50 dollars a week.
2. Once 300 dollars in business "per 24 hours" is done from the site all purchases are manually reviewed subject to change up or down.
3. A shipping address is required for member ship you will be sent a code to your CC mailing address. If addresses do no match no membership sorry. Your I.P. will be blocked.
4. AVS and CCV must match for membership
5. X amount of purchase a hour will cause a manual review of all purchases.
6. Purchase over X amount will be held for manual review.
7.Your I.P. does not match your shipping address region, held for review expect a call.
Working on more with the Fraud protection agency I'm Using and the processor.
|
|
|
|
|
You can only do that so many times before they catch on, Not only that when you buy it records the I.P. of purchase so they will investigate. If it was that easy all major online game sellers would be out of business. I'm not saying it can not be done dude but get real if it was that easy all of use would have everything we want for free.
|
|
|
|
|
Show Posts
