Proposal: Mt. Gox + Bitcoin4Cash + Bitcoin2Cash = PayPal Problem Solved!

[jimbobway]

Since Mt. Gox is trying to find a way to handle cash transactions, maybe he could work with Bitcoin4Cash (or Bitcoin2Cash) to handle cash.  Then for users who'd like to get or send cash via mail it would work out for everyone.

Just an idea.

[mpkomara]

and for users who don't want to send or receive cash through mail?

[jimbobway]

It would be a start...it's good to have more than one way to fund an account in case something awful happens.

[Drifter]

The problem isn't withdrawals from mt. gox, it is the chargebacks from buyers. I don't see any problems arising if mt. gox were to use paypal for withdrawals only. Individuals that want to buy bitcoins with cash can do so freely and then put the coins onto the market. Individuals that want cash for their coin shouldn't put it on the market and find an alternate option.

For the cash that's caught in the system now, it could be a possibility. I don't see it as a permanent fix though.

[jimbobway]

The problem isn't withdrawals from mt. gox, it is the chargebacks from buyers. I don't see any problems arising if mt. gox were to use paypal for withdrawals only. Individuals that want to buy bitcoins with cash can do so freely and then put the coins onto the market. Individuals that want cash for their coin shouldn't put it on the market and find an alternate option.

For the cash that's caught in the system now, it could be a possibility. I don't see it as a permanent fix though.

Good point on the withdraws.  I'd like to see Mt. Gox set up withdraws on PayPal if possible since there would never be any charge backs.  Well, Mt. Gox?

[S3052]

I agree.

[Babylon]

I would also like to see this.  I'm not planning on withdrawing any cash myself, but I do think the price is a bit inflated at the moment because people cannot withdraw cash and i want to buy bitcoins for cheaper than people are selling them.

[jgarzik]

I would also like to see this.  I'm not planning on withdrawing any cash myself, but I do think the price is a bit inflated at the moment because people cannot withdraw cash and i want to buy bitcoins for cheaper than people are selling them.

Everybody wants to buy bitcoins cheaper than people are selling them

The price on bitcoinmarket is not far behind mtgox...

[Babylon]

I would also like to see this.  I'm not planning on withdrawing any cash myself, but I do think the price is a bit inflated at the moment because people cannot withdraw cash and i want to buy bitcoins for cheaper than people are selling them.

Everybody wants to buy bitcoins cheaper than people are selling them

The price on bitcoinmarket is not far behind mtgox...

everyone except the people who want to sell bitcoins for more than they are going for.

[kiba]

Ingenious!

[The Madhatter]

Just an FYI: I offer rate discounts on larger Bitcoin cash buy orders ($500+).

I can also do Bitcoin sell orders with an international bank wire (SWIFT/ABA; favorable jurisdiction) at a great rate ($500 minimum).

[jimbobway]

This doesn't require any formal co-operation between MtGox and Bitcoin{2,4}Cash because you can already do it that way yourself if you trust those services and the postal service.

It looks like Mt Gox has an API for Mt Gox users to send bitcoins directly to other Mt Gox users.  So if it was ok with bitcoin4cash, then we could send cash to him and he could add bitcoins to a specific Mt Gox account.

As for withdraws it would just work in the opposite direction and bitcoin4cash would mail cash to the user.

[Drifter]

It looks like Mt Gox has an API for Mt Gox users to send bitcoins directly to other Mt Gox users.  So if it was ok with bitcoin4cash, then we could send cash to him and he could add bitcoins to a specific Mt Gox account.

What is the difference if bitcoin4cash just sends you bitcoins and you add it to mt. gox yourself?

[jimbobway]

It looks like Mt Gox has an API for Mt Gox users to send bitcoins directly to other Mt Gox users.  So if it was ok with bitcoin4cash, then we could send cash to him and he could add bitcoins to a specific Mt Gox account.

What is the difference if bitcoin4cash just sends you bitcoins and you add it to mt. gox yourself?

 Right that is even better. :-)

Maybe bitcoin4cash could completely integrate with Mt Gox so there aren't two middle mans.  Less confusing for newbies.

[jgarzik]

It looks like Mt Gox has an API for Mt Gox users to send bitcoins directly to other Mt Gox users.

Really?  where?  You are referring to the ability to withdraw bitcoins to any bitcoin address?

[jimbobway]

It looks like Mt Gox has an API for Mt Gox users to send bitcoins directly to other Mt Gox users.

Really?  where?  You are referring to the ability to withdraw bitcoins to any bitcoin address?

Log in and click on ur username. Click in Payment API

[jgarzik]

Log in and click on your username. Click on Payment API

Neat!  A bit disappointing, though,  that one must construct a POST by hand.

[twobitcoins]

Transferring bitcoins between users is not so interesting because it is already possible to get bitcoins in and out.  Much more interesting is that the API also allows transferring USD between users. 

I have around $3000 that I'd like to withdraw from Mt. Gox.  If anyone is looking to get money into Mt. Gox, perhaps we can work out a deal.

[nelisky]

Transferring bitcoins between users is not so interesting because it is already possible to get bitcoins in and out.  Much more interesting is that the API also allows transferring USD between users. 

I have around $3000 that I'd like to withdraw from Mt. Gox.  If anyone is looking to get money into Mt. Gox, perhaps we can work out a deal.

Not personally interested, but that is a great idea! Maybe mtgox could get a small fee for the escrow service? He would assert the one sending USD out that he had received USDs from the other party, so it was safe for actual US$ to change hands. Just a thought...

[jimbobway]

Transferring bitcoins between users is not so interesting because it is already possible to get bitcoins in and out.  Much more interesting is that the API also allows transferring USD between users. 

I have around $3000 that I'd like to withdraw from Mt. Gox.  If anyone is looking to get money into Mt. Gox, perhaps we can work out a deal.

Not personally interested, but that is a great idea! Maybe mtgox could get a small fee for the escrow service? He would assert the one sending USD out that he had received USDs from the other party, so it was safe for actual US$ to change hands. Just a thought...

Mt. Gox is in a great position to do many needed services.  I hope the grand vision is recognized and implemented.  It will not only help the bitcoin community, but it could also help Mt. Gox if he decides to monetize.