Bitcoin Forum
May 10, 2024, 09:04:59 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Bitcoin Forum > Economy > Economics > transferring money as a service
Pages: [1]
« previous topic next topic »
  Print  
Author Topic: transferring money as a service  (Read 1399 times)
tyler (OP)
Newbie
*
Offline Offline

Activity: 56
Merit: 0



View Profile
November 26, 2010, 07:31:06 AM
 #1
Just thought of a cool way to make money transfering real cash for people using bitcoin.

Person A in some city/country, wants to wire money ($500) to Person D in some city/country

Person B and Person C both use bitcoin.

Person A gives person B $500 cash plus a handling fee

Person B gives person C $500 worth of bitcoin plus a smaller handling fee

Person C gives person D $500 (in local currency)


Inspired by Hawala: http://en.wikipedia.org/wiki/Hawala
1715375099
Hero Member
*
Offline Offline

Posts: 1715375099

View Profile Personal Message (Offline)

Ignore
1715375099
1715375099
Reply with quote  #2
1715375099
Report to moderator
1715375099
Hero Member
*
Offline Offline

Posts: 1715375099

View Profile Personal Message (Offline)

Ignore
1715375099
1715375099
Reply with quote  #2
1715375099
Report to moderator
1715375099
Hero Member
*
Offline Offline

Posts: 1715375099

View Profile Personal Message (Offline)

Ignore
1715375099
1715375099
Reply with quote  #2
1715375099
Report to moderator
"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715375099
Hero Member
*
Offline Offline

Posts: 1715375099

View Profile Personal Message (Offline)

Ignore
1715375099
1715375099
Reply with quote  #2
1715375099
Report to moderator
1715375099
Hero Member
*
Offline Offline

Posts: 1715375099

View Profile Personal Message (Offline)

Ignore
1715375099
1715375099
Reply with quote  #2
1715375099
Report to moderator
1715375099
Hero Member
*
Offline Offline

Posts: 1715375099

View Profile Personal Message (Offline)

Ignore
1715375099
1715375099
Reply with quote  #2
1715375099
Report to moderator
LobsterMan
Member
**
Offline Offline

Activity: 73
Merit: 10


View Profile
November 26, 2010, 07:32:37 AM
 #2
I think this may be considered money laundering and you may want to check your local laws  Cheesy
nanotube
Hero Member
*****
Offline Offline

Activity: 482
Merit: 501


View Profile WWW
November 26, 2010, 07:33:27 AM
 #3
also you should look into ripple-project.org Smiley
Join #bitcoin-market on freenode for real-time market updates.
Join #bitcoin-otc - an over-the-counter trading market. http://bitcoin-otc.com
OTC web of trust: http://bitcoin-otc.com/trust.php
My trust rating: http://bitcoin-otc.com/viewratingdetail.php?nick=nanotube
tyler (OP)
Newbie
*
Offline Offline

Activity: 56
Merit: 0



View Profile
November 26, 2010, 07:39:11 AM
 #4
Quote from: nanotube on November 26, 2010, 07:33:27 AM
also you should look into ripple-project.org Smiley

I thought ripple was loaning money? Nobody is owed after this transaction, everyone is paid up front
S3052
Legendary
*
Offline Offline

Activity: 2100
Merit: 1000


View Profile
November 26, 2010, 07:47:00 AM
 #5
Quote from: tyler on November 26, 2010, 07:31:06 AM
Just thought of a cool way to make money transfering real cash for people using bitcoin.

Person A in some city/country, wants to wire money ($500) to Person D in some city/country

Person B and Person C both use bitcoin.

Person A gives person B $500 cash plus a handling fee

Person B gives person C $500 worth of bitcoin plus a smaller handling fee

Person C gives person D $500 (in local currency)


Inspired by Hawala: http://en.wikipedia.org/wiki/Hawala

This is a great idea.
nanotube
Hero Member
*****
Offline Offline

Activity: 482
Merit: 501


View Profile WWW
November 26, 2010, 07:58:00 AM
 #6
Quote from: tyler on November 26, 2010, 07:39:11 AM
Quote from: nanotube on November 26, 2010, 07:33:27 AM
also you should look into ripple-project.org Smiley

I thought ripple was loaning money? Nobody is owed after this transaction, everyone is paid up front

my understanding is that you should be able to both pull (borrow) and push (prepay) along a credit path.
Join #bitcoin-market on freenode for real-time market updates.
Join #bitcoin-otc - an over-the-counter trading market. http://bitcoin-otc.com
OTC web of trust: http://bitcoin-otc.com/trust.php
My trust rating: http://bitcoin-otc.com/viewratingdetail.php?nick=nanotube
tyler (OP)
Newbie
*
Offline Offline

Activity: 56
Merit: 0



View Profile
November 26, 2010, 08:01:20 AM
 #7
Quote from: LobsterMan on November 26, 2010, 07:32:37 AM
I think this may be considered money laundering and you may want to check your local laws  Cheesy

It "has its origins in islamic law". can't be that bad, islam is a pretty moral religion
Pages: [1]
  Print  
Bitcoin Forum > Economy > Economics > transferring money as a service
 « previous topic next topic »
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!