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Poll
Question: Would you use credit cards to fund your trading accounts?
Yes - 32 (59.3%)
No - 22 (40.7%)
Total Voters: 54

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Author Topic: Would you use credit cards to fund your trading accounts?  (Read 2253 times)
Vince Torres
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July 11, 2011, 10:05:30 PM
 #1

Would you do it? Discuss.

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GeniuSxBoY
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July 11, 2011, 10:21:57 PM
 #2

In other words "Would you use other people's money to play slot machines"
sharky112065
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July 11, 2011, 10:30:57 PM
 #3

Would you do it? Discuss.

Yes, as long as I had the money to pay the bill ahead of time. This would be a lot more convenient than using Dwolla to xfer money from my bank account first and then xfer to trading site.

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MKW2012
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July 11, 2011, 10:33:01 PM
 #4

I would. It would make the transfer process a lot quicker.
CurbsideProphet
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July 11, 2011, 10:33:32 PM
 #5

Would you do it? Discuss.

Yes, as long as I had the money to pay the bill ahead of time. This would be a lot more convenient than using Dwolla to xfer money from my bank account first and then xfer to trading site.

This.  And that would be the only time to use it, IMO.

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July 11, 2011, 10:35:47 PM
 #6

By the way, this was possible last year on MtGox and Bitcoingateway.com but was stopped afterwards. On mTGox, due to credit card fraud because of the reversible nature of credit cards

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Jointops420
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July 11, 2011, 10:37:34 PM
 #7

You bet ya on the overall growth of bitcoin far out ways the interest charged by the cc mob. Being injured and screwed over from working I have an attitude of why not its only fake money I owe credit cards for anyway. Its a win win situation they either get their money back from me or get it from how ever they work the system on defaults at the end of the day the books get balanced.
bitcoinaddict
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July 11, 2011, 11:03:07 PM
 #8

It's a really bad idea to borrow money for investments.  If you don't have the cash to invest.....your financial situation needs more than just bitcoins to help it.

I have found myself, twice in my lifetime, almost incapacitated financially due to debt.  Luckily, I've never had to go BK, and was able to pay off one occurrence and am still working on the second (more than half way done).

The only way I would use a credit card to purchase bitcoins is if it was a secured credit card and I had already paid the money.

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July 11, 2011, 11:03:28 PM
 #9

By the way, this was possible last year on MtGox and Bitcoingateway.com but was stopped afterwards. On mTGox, due to credit card fraud because of the reversible nature of credit cards

For now. Also accepting credit cards means accepting debit cards too.

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July 11, 2011, 11:05:19 PM
 #10

i would love to be able to fund my account by cc or debit
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July 11, 2011, 11:17:19 PM
 #11

100% of the reason cc's aren't accepted is because of chargebacks and the use of stolen credit cards

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ShaggyB (BitCoinWorldMarket)
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July 12, 2011, 12:00:27 AM
 #12

What bitcoin really needs is the ability to easily convert from USD (or other currency) to BTC quickly and without the possibility of chargebacks.

Dwolla is fine and good but it take 5-7 days to get that whole process rolling. If that was reduced down to maybe 2 days MAX then I think there would be more people willing to go through the effort.


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CurbsideProphet
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July 12, 2011, 12:08:23 AM
 #13

It's a really bad idea to borrow money for investments.  If you don't have the cash to invest.....your financial situation needs more than just bitcoins to help it.

I have found myself, twice in my lifetime, almost incapacitated financially due to debt.  Luckily, I've never had to go BK, and was able to pay off one occurrence and am still working on the second (more than half way done).

The only way I would use a credit card to purchase bitcoins is if it was a secured credit card and I had already paid the money.

Kudos to you for stepping up like a man (or a woman I don't know you) and paying your debts rather than walking away.

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AtlasONo
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July 12, 2011, 01:05:56 AM
 #14

If you can do CC transactions you can do Debit Card transactions right?
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July 12, 2011, 01:45:12 AM
 #15

I think it's the other way around but i don't think it really makes a difference

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July 12, 2011, 01:46:46 AM
 #16

Yes. I would obviously pay my back my credit card balance, like I always do.
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July 12, 2011, 03:08:14 AM
 #17

We're workin on it ;-)

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kloinko1n
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July 12, 2011, 04:49:14 AM
 #18

Yes I would, and then e-mail to VISA / MASTERCARD that I used their cc to fund my bitcoin account to donate to Wikileaks Smiley
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July 12, 2011, 05:10:05 AM
 #19

We're workin on it ;-)

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Cool!

Needs to be two way.

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Kermee
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July 12, 2011, 05:12:00 AM
 #20

Debit, yes.
Charge card, maybe.
Credit card, no.

Cheers,
Kermee

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