[Question] How do you want to fund an exchange account

[OdinHephaestus]

I have hit a snag, and need the advice of the community.

Assume, for a moment, that you just opened an account with a new exchange.  If this exchange could fund your account with USD from whatever method/site you prefer, what would it be?  Are you a fan of Dwolla?  Perhaps you would like a way to buy BTC with your credit card?  Would you like support for 3rd party exchanges, like VirWox?

Any and all opinions on this matter are important.  Thank you for your time.

[1715024583]

1715024583

[frga13]

credit card

[ymer]

Credit Card, and not because we don't have cash, but because people outside the US can't deposit on walmart 

[OdinHephaestus]

Any credit card system would have to be implemented with a trust system as well. Needing more than x amount of successful credit card purchases without charge back, or be subject to a "holding period" where you can't withdraw your coins for 14+ days.  A system could easily be implemented, but he holding periods would not be very popular, I think.

[Minor Miner]

Wire transfer.    and be able to wire transfer ENTIRE account or transfer BTC out IMMEDIATELY.
Why would I want to leave money in an exchange account for any longer than the time it took me to pull the trigger on the trade?

[OdinHephaestus]

Wire transfer.    and be able to wire transfer ENTIRE account or transfer BTC out IMMEDIATELY.
Why would I want to leave money in an exchange account for any longer than the time it took me to pull the trigger on the trade?

So, you wan't more BitInstant-esk sites?

[Minor Miner]

Wire transfer.    and be able to wire transfer ENTIRE account or transfer BTC out IMMEDIATELY.
Why would I want to leave money in an exchange account for any longer than the time it took me to pull the trigger on the trade?

So, you wan't more BitInstant-esk sites?

I want an exchange window like you see in EU cities (changed 10,000 EU to USD no problem in rome), or you see all over china (same thing 1000s of USD no problem) and you see EVERYWHERE in Hong Kong.
Why do you need an exchange?   Does silver have it's own exchange?  Wheat?   Lumber?   NO.
So, as soon as bitcoin becomes mainstream enough to be listed on a REAL exchange, Mt Gox and the rest of them are irrelevant but the money changing windows still have use to people.   So, why would anyone (who has a brain) invest money in the LONG TERM in a bitcoin exchange?  It is NOT a long term business if bitcoin turns out to be real and if BTC is NOT real, then it is not a long term business either.

[TimJBenham]

I'm sure the masses would want to be able to use credit card or Paypal. I wouldn't accept cc and I'd want at least a 15 day hold on Paypal. Slightly more sophisticated clients outside the US would be willing to deposit by bank wire. You could make things easier for them by opening bank accounts in each target market so they could use cheaper domestic transfers or cash deposits.

American clients would be happy with ACH withdrawal but that is useless for non-US clients. They would want to be able to withdraw by bank wire or Paypal. I expect Paypal will quickly decide you are some sort of merchant they don't like and freeze your account.

[OdinHephaestus]

I'm sure the masses would want to be able to use credit card or Paypal. I wouldn't accept cc and I'd want at least a 15 day hold on Paypal. Slightly more sophisticated clients outside the US would be willing to deposit by bank wire. You could make things easier for them by opening bank accounts in each target market so they could use cheaper domestic transfers or cash deposits.

American clients would be happy with ACH withdrawal but that is useless for non-US clients. They would want to be able to withdraw by bank wire or Paypal. I expect Paypal will quickly decide you are some sort of merchant they don't like and freeze your account.

All of which are important concerns.  PayPal has shown time and again that it will not support the bitcoin community, and would not be even considered until their policies change.

Perhaps its about time I invested some time into how to offer direct deposit in other countries.  My concern is that these banks my choose to take the PayPal route, and freeze accounts associated with bitcoin.