Bitcoin Forum
December 03, 2016, 02:42:34 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3]  All
  Print  
Author Topic: Dwolla growth email - success and relation to Bitcoin?  (Read 5035 times)
Smalleyster
Member
**
Offline Offline

Activity: 70


I yam what I yam. - Popeye


View Profile WWW
July 26, 2011, 01:59:12 AM
 #41

So now that dwolla reverses transactions, when do they send out the email about their spiral into obscurity now that noone uses it with bitcoin exchanging anymore?

+1

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
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480732954
Hero Member
*
Offline Offline

Posts: 1480732954

View Profile Personal Message (Offline)

Ignore
1480732954
Reply with quote  #2

1480732954
Report to moderator
1480732954
Hero Member
*
Offline Offline

Posts: 1480732954

View Profile Personal Message (Offline)

Ignore
1480732954
Reply with quote  #2

1480732954
Report to moderator
1480732954
Hero Member
*
Offline Offline

Posts: 1480732954

View Profile Personal Message (Offline)

Ignore
1480732954
Reply with quote  #2

1480732954
Report to moderator
evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
July 26, 2011, 02:32:55 AM
 #42

Well this Dwolla story gets more interesting!  TradeHill released a PR today on their site regarding the issue, and I found this:

From Jared Kenna of TradeHill:
Quote
TradeHill has done millions of dollars of business with Dwolla and is their second largest customer.

I think we can assume that MtGox is thus Dwolla's largest customer, right? So the two top customers of Dwolla's growth are both Bitcoin exchanges. My original suspicion seems incontrovertible now - Dwolla's celebration of growth in their recent announcement is really a celebration of Bitcoin's success, not exactly theirs.
Jered Kenna (TradeHill)
Sr. Member
****
Offline Offline

Activity: 420



View Profile WWW
July 26, 2011, 02:37:17 AM
 #43

Well this Dwolla story gets more interesting!  TradeHill released a PR today on their site regarding the issue, and I found this:

From Jared Kenna of TradeHill:
Quote
TradeHill has done millions of dollars of business with Dwolla and is their second largest customer.

I think we can assume that MtGox is thus Dwolla's largest customer, right? So the two top customers of Dwolla's growth are both Bitcoin exchanges. My original suspicion seems incontrovertible now - Dwolla's celebration of growth in their recent announcement is really a celebration of Bitcoin's success, not exactly theirs.

I believe Magical Tux said roughly 6 million so far with Dwolla. We did 1.2 million (roughly) in June (started June 8th). I would imagine this is most of Dwollas June volume.
At this point they have probably grown enough off Bitcoin that they can continue to grow through other means. To say Bitcoin didn't give them a huge push seems to be an understatement.
They can probably lose Bitcoin at this point and continue to grow. Hopefully they prefer to make things right and clear the air on this issue.

Jered

moneyandtech.com
@moneyandtech @jeredkenna
Meatpile
Sr. Member
****
Offline Offline

Activity: 277


View Profile
July 26, 2011, 02:37:58 AM
 #44

I don't know if they really "know" they are their second largest customer...
Jered Kenna (TradeHill)
Sr. Member
****
Offline Offline

Activity: 420



View Profile WWW
July 26, 2011, 03:25:16 AM
 #45

I don't know if they really "know" they are their second largest customer...

If not currently we were. Dwolla released data on how many transactions they had done, we compared that to our data and Gox's data and found that combined we made up almost all of their volume.
They have more non Bitcoin related transfers now though. They seem to be growing fast, I hope they thank Bitcoin for the bump.

Jered

moneyandtech.com
@moneyandtech @jeredkenna
Stephen Gornick
Legendary
*
Offline Offline

Activity: 1988



View Profile
August 06, 2011, 07:03:20 AM
 #46

They have more non Bitcoin related transfers now though. They seem to be growing fast,

Dwolla's model makes sense.  $0.25 for a $100 transfer is much less than the $3.20 that PayPal charges.  I've already had it happen where someone I've sent money to previously has now asked for the payment to be sent with Dwolla instead (to minimize the transaction costs).  Of course,Bitcoin was the only reason that person had already signed up with Dwolla but kudos to Dwolla for being in the right place at the right time.

One of the worries that I had was that if Bitcoin were to start to take market share from the payment networks, would they simply lower their fees to lessen the cost advantage that Bitcoin offers?

Then I realized that Dwolla can actually take away some of the profitable business away from Visa/MC.  The remaining business for Visa/MC will be the more problematic, less profitable transactions (merchants with a higher rate of chargebacks, customers who are paying with credit because they don't have the cash and thus might default at higher rates, etc.)

So Dwolla succeeding fantastically at the expense of the legacy payment networks will actually be something to look foward to.  Going from one payment method (payment card only) to two methods (payment card or Dwolla) is much harder than going from two methods to three (payment card or Dwolla or Bitcoin).  Dwolla can do a little trail blazing for Bitcoin.

Pages: « 1 2 [3]  All
  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!