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Author Topic: Dwolla Begins PayPal-Style Account Suspensions  (Read 2486 times)
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January 26, 2013, 12:57:34 AM
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This is because a law has passed in congress requiring more verification for online payment options. They now require you to send proof of location, ID, and tax returns. More power to the Bitcoin!
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Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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January 26, 2013, 01:30:14 AM
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This is because a law has passed in congress requiring more verification for online payment options. They now require you to send proof of location, ID, and tax returns. More power to the Bitcoin!

What law is that?
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January 26, 2013, 07:02:46 AM
 #23

Thanks so much for sharing your experience!  The more we know, the better off we'll all be.

To summarize, is it fair to say Dwolla is still growing into a Paypal like scary beast, but may have some slightly cheaper/better processes in place?

Still need to be aware that they can hault your funds in an instant, but hopefully it all works out in the end?

Last question for ya: Has Dwolla won your business back, or will you be sticking to wire transfers from here on out for Mtgox?

For me Dwolla is currently better than PayPal, because PayPal is useless for buying bitcoins and Dwolla isn't. Wires to MtGox have no advantages over Dwolla and several disadvantages: they're much more expensive, they're harder to execute, and they're harder to track. So I'll probably keep using Dwolla in the future. I'll probably just restrict it to MtGox transfers.

http://lamassubtc.com/
Lamassu Bitcoin Ventures
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