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Author Topic: This Dwolla stuff is scary.  (Read 1418 times)
ampirebus
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July 28, 2011, 06:57:37 PM
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abandoned tradehill, not making any public details, and now having problems with dwolla & mtgox.

i just happened to have ~500 in my mtgox and wanted to buy my wife an ipad 2 , planned on sending it to dwolla and then to my bank account... now im scared if i send it to dwolla ill never see my money again.
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plastic.elastic
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July 28, 2011, 07:11:41 PM
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abandoned tradehill, not making any public details, and now having problems with dwolla & mtgox.

i just happened to have ~500 in my mtgox and wanted to buy my wife an ipad 2 , planned on sending it to dwolla and then to my bank account... now im scared if i send it to dwolla ill never see my money again.

care to explain what happened with dwolla?

I made a trade on tradehill without knowing dwolla isnt available to Canadians Sad

Tips gladly accepted: 1LPaxHPvpzN3FbaGBaZShov3EFafxJDG42
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July 28, 2011, 07:25:00 PM
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This thread has a post saying the issue has been fixed between Gwolla > Mtgox transfers, although mine still hasn't shown up

http://forum.bitcoin.org/index.php?topic=32516.0
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July 28, 2011, 07:26:01 PM
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Agreed, and ExchangeBitcoins.com has dropped them as well.  This is going to make moving money between exchanges much more difficult.  

Tradehill seems to be switching to Paxum though, hopefully others will follow suit.
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July 28, 2011, 07:49:16 PM
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Looks like Paxum allows funding by ACH, which is what got dwolla into this mess in the first place.
Unless there fees are high enough to combat fraud, which sucks in its own fashion.

http://cryptoswap.com
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July 28, 2011, 07:58:04 PM
 #6

This wouldn't have happened if you were trading with CampBX

They haven't been affected by this dwolla problem.

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July 28, 2011, 08:01:11 PM
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Anyone accepting a payment using dwolla can be affected by this. CampBx should stop accepting it as a funding method.

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July 28, 2011, 08:05:02 PM
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I sent Dwolla -> Mt Gox last night still haven't seen my money yet in Mt Gox. Pretty depressing.
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July 28, 2011, 08:11:12 PM
 #9

Anyone accepting a payment using dwolla can be affected by this. CampBx should stop accepting it as a funding method.

That means shutting down the WHOLE Exchange.

ampirebus
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July 28, 2011, 08:45:49 PM
 #10

This thread has a post saying the issue has been fixed between Gwolla > Mtgox transfers, although mine still hasn't shown up

http://forum.bitcoin.org/index.php?topic=32516.0

https://support.mtgox.com/entries/20317576-important-notice-dwolla-deposit-delays (from today official mt gox release )
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July 28, 2011, 08:55:23 PM
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Anyone accepting a payment using dwolla can be affected by this. CampBx should stop accepting it as a funding method.

That means shutting down the WHOLE Exchange.

No, CampBx can still issue payments with Dwolla because they know they wont chargeback their own ACH. As long as they issued it from their Bank Account to dwolla to XXX. If there balance contains money from a user 2 user transfer then that amount is subject to an extremely long "clearing" time until cant be charged-back. My bank has an option for a 24 month charge-back I believe. Yes they will have to be funded using a non reversible method, I invite all exchanges looking to achieve a responsible and effective funding method to contact me as we have some great programs in the works.
With a little community organization between just a few major players (Gox, Jered TH, CampBx, etc.) we can accomplish a solid and safe way for us to get funding to our various projects.

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July 28, 2011, 10:53:03 PM
 #12

I transferred $200 from Dwolla to Mt. Gox almost 24 hours ago and it still hasn't shown up.  No response from Mt Gox support either.


Sheeit, just showed up.    Grin
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July 29, 2011, 12:03:32 AM
 #13

So now it's been a few hours since I bought some bitcoins on MTGox and they still haven't shown up in my wallet software.   How long does it take?
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July 29, 2011, 12:12:58 AM
 #14

So now it's been a few hours since I bought some bitcoins on MTGox and they still haven't shown up in my wallet software.   How long does it take?
Do you see them in block explorer? If your wallet software is the bitcoin client, it has to "catch up" to the network, and that can take many hours. The money may already be yours, your client just hasn't gotten to that transaction yet.

The bitcoin client, when you first start it up, has to verify every single bitcoin transaction that has ever taken place to confirm that the coins that were sent to you were done so validly.

I am an employee of Ripple.
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gusti
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July 29, 2011, 12:33:43 AM
 #15

abandoned tradehill, not making any public details, and now having problems with dwolla & mtgox.

i just happened to have ~500 in my mtgox and wanted to buy my wife an ipad 2 , planned on sending it to dwolla and then to my bank account... now im scared if i send it to dwolla ill never see my money again.


just buy the ipad with coins thru spendbitcoins or similar (not affiliated)

If you don't own the private keys, you don't own the coins.
Oldminer
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July 29, 2011, 01:34:56 AM
 #16

I transferred some cash over to MtGox over 24 hours ago via online banking but it still hasnt been credited as yet (ie its taking a bit longer than usual so might not just be Dwolla transfers that are slow atm)

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
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July 29, 2011, 03:42:55 AM
 #17

Glad I didn't bother to write a dwolla payment gateway for my site yet.  That would have been a bit of waste of time. 

I'm still looking for something better than USPS Postal Money Orders to transfer USD funds in and out of an exchange I'm working on here in Canada.   Although not the quickest or cheapest method to fund an account, it does seem to solve the problem with possible chargebacks as long as you ensure it isn't a forgery when you deposit it.


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Smalleyster
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July 29, 2011, 04:25:24 AM
 #18

This wouldn't have happened if you were trading with CampBX

They haven't been affected by this dwolla problem.

...yet.

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
payb.tc
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July 29, 2011, 04:29:41 AM
 #19

So now it's been a few hours since I bought some bitcoins on MTGox and they still haven't shown up in my wallet software.   How long does it take?

did you actually withdraw them or only visit the 'trade' page?

they don't go into your wallet automatically just by trading.

sorry if that's too obvious.
ampirebus
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July 29, 2011, 04:30:17 PM
 #20

abandoned tradehill, not making any public details, and now having problems with dwolla & mtgox.

i just happened to have ~500 in my mtgox and wanted to buy my wife an ipad 2 , planned on sending it to dwolla and then to my bank account... now im scared if i send it to dwolla ill never see my money again.


just buy the ipad with coins thru spendbitcoins or similar (not affiliated)

I would, however he only offers itunes store cards (not apple store gift cards). Also the fact that newegg dropped his service makes me sit on the sidelines when previously i would have jumped at the bit (no pun intended). I'm sure he's a legit guy but his business needs time to grow before I will toss big bucks his way. I had read the thread where jeremy explained what happened with Newegg but he could have changed his business model to accomodate them. The fact that newegg ended their partnership or what have you with spendbitcoins.com , thats a red flag for me. Everyone in the tech field knows newegg is for the most part numero uno. Could be because of his memorydealers affiliation but I'm guessing its due to the fact his business is not incorporated in the USA. I could be wrong though and I'd love to see every major retailer added to his service.
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