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Author Topic: Anyone interested in a service to buy BTC with a credit card?  (Read 972 times)
EricSU (OP)
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August 06, 2011, 01:19:47 AM
 #1

Is anyone interested in a service where you can buy BTC instantly with a credit card?
I have been thinking of making one, since buying BTC seems to be a little more difficult then it should be.
The fee would be 10-15%.

Reply here to let me know if anyone is interested.
I don't want to spend time on it if nobody wants it.
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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DannyM
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August 06, 2011, 01:38:58 AM
 #2

People will certainly use the service, but too many people will fraudulently charge-back that your 15% won't be enough and that is why this is not already widely available.

You can use a credit card via paypal to buy linden dollars at virwox.com and then trade them at virwox for bitcoins.

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August 06, 2011, 02:32:01 AM
 #3

It would make buying BTC easy.  I was thinking maybe an exchange could allow this but would require the user to maintain a balance in their account at or above the possible charge-back amount until the charge-back period is over.  Not a perfect system of course since BTC can loose money and become worth less without any action on the part of the person, but would be better than nothing.

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EricSU (OP)
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August 06, 2011, 02:42:33 AM
 #4

Well I would use 3D secure so it would not be possible to chargeback.
I started using 3D secure on my sites 5 years ago and never got a single chargeback since, and I have accepted tons of dodgy looking orders.
The_JMiner
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August 06, 2011, 05:31:34 AM
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Well I would use 3D secure so it would not be possible to chargeback.
I started using 3D secure on my sites 5 years ago and never got a single chargeback since, and I have accepted tons of dodgy looking orders.

3d secure? is it some sort of insurance? Never heard of it (im not a vendor or merchant).


edit: got it , ignore   http://en.wikipedia.org/wiki/3-D_Secure

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August 06, 2011, 10:10:25 AM
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you would be out of business in the first week.
(with all the chargebacks obv.)

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