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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 2255 times)
rethaw
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July 12, 2011, 05:33:19 AM
 #21

Here is one possible way:

1) Set up a free merchant account with Square.

2) Charge your card for however much you like, they take some percent.

3) Withdraw to your bank account.

4) Fund your dwolla account from your bank account.

5) Transfer to an exchange.

Good luck!

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Smalleyster
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July 12, 2011, 05:38:17 AM
 #22

Here is one possible way:

1) Set up a free merchant account with Square.

2) Charge your card for however much you like, they take some percent.

3) Withdraw to your bank account.

4) Fund your dwolla account from your bank account.

5) Transfer to an exchange.

Good luck!

2.75% !!!

Are you insane?

Or do you work for them?

Feel like investing in a Miner?:
http://bitcointalk.org/index.php?topic=30044.msg377773#msg377773
A soup to nuts newbee system for a secure, portable USB wallet (free instructions):
NoobHowTo: http://bitcointalk.org/index.php?topic=27088.msg341387#msg341387
rethaw
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July 12, 2011, 05:41:39 AM
 #23

Or do you work for them?

No, but maybe I should. There are better merchant services but they have a setup/monthly fee that for small transactions wouldn't pan out.

For example, you would have to charge over $1000 to meet 2.75% for a $30 monthly fee, and $30 monthly merchant accounts are hard to find. They also take a small percent of every swipe.

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July 12, 2011, 06:25:47 AM
 #24

Or do you work for them?

No, but maybe I should. There are better merchant services but they have a setup/monthly fee that for small transactions wouldn't pan out.

For example, you would have to charge over $1000 to meet 2.75% for a $30 monthly fee, and $30 monthly merchant accounts are hard to find. They also take a small percent of every swipe.

I used to work in the merchant services industry for First Data, the biggest and best.
For that fee you might as well just use paypal.

Feel like investing in a Miner?:
http://bitcointalk.org/index.php?topic=30044.msg377773#msg377773
A soup to nuts newbee system for a secure, portable USB wallet (free instructions):
NoobHowTo: http://bitcointalk.org/index.php?topic=27088.msg341387#msg341387
bitbot
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July 12, 2011, 09:07:58 AM
 #25

We're workin on it ;-)

BitInstant.com

thats just gonna be a  website to steal cc numberss

Anonymous BITCOIN Exchange: https://www.TRADEHILL.COM
Yankee (BitInstant)
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July 12, 2011, 12:46:42 PM
 #26

We're workin on it ;-)

BitInstant.com

thats just gonna be a  website to steal cc numberss

You don't know that we accept cc's. In fact, you don't know anything yet ;-)

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
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July 12, 2011, 01:22:10 PM
 #27

We're workin on it ;-)

BitInstant.com

thats just gonna be a  website to steal cc numberss

And, you have proof of this? Or you're simply libelling us both for no reason?
YoYa
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July 12, 2011, 06:11:12 PM
 #28

Credit cards?!?

They can never work! It's obviously a Ponzi Scheme! People will never accept pieces of plastic with magnetic tape on the back of them! Geek money! It'll never catch on! An Inflationary model where you owe more then what you originally bought........THAT'S MADNESS!
AyeYo
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July 12, 2011, 06:33:38 PM
 #29

Credit cards?!?

They can never work! It's obviously a Ponzi Scheme! People will never accept pieces of plastic with magnetic tape on the back of them! Geek money! It'll never catch on! An Inflationary model where you owe more then what you originally bought........THAT'S MADNESS!

OMG NO GOLD BACKING!!!

 Cheesy


I would use (and have used) a CC to fund a legit trading account.  I would not use a CC to fund some hack-ass bitcoin trading site.

Enjoying the dose of reality or getting a laugh out of my posts? Feel free to toss me a penny or two, everyone else seems to be doing it! 1Kn8NqvbCC83zpvBsKMtu4sjso5PjrQEu1
error
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July 12, 2011, 07:24:01 PM
 #30

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.

The delay is with your bank, not Dwolla. Dwolla is actually trying to solve the problem. Their solution, FiSync, will make transfers instant to/from any participating bank. You might encourage your bank to participate.

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
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