Bitcoin Forum
October 20, 2018, 10:35:10 PM *
News: Make sure you are not using versions of Bitcoin Core other than 0.17.0 [Torrent], 0.16.3, 0.15.2, or 0.14.3. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: transferring money as a service  (Read 1270 times)
tyler
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
1540074910
Hero Member
*
Offline Offline

Posts: 1540074910

View Profile Personal Message (Offline)

Ignore
1540074910
Reply with quote  #2

1540074910
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
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: 485
Merit: 500


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
Newbie
*
Offline Offline

Activity: 56
Merit: 0



View Profile
November 26, 2010, 07:39:11 AM
 #4

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

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: 485
Merit: 500


View Profile WWW
November 26, 2010, 07:58:00 AM
 #6

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
Newbie
*
Offline Offline

Activity: 56
Merit: 0



View Profile
November 26, 2010, 08:01:20 AM
 #7

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  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!