Dwolla vs Paxum & MtGox vs Tradehill - for US bitcoiners

[Reckman]

Mtgox + Dwolla, cant go wrong there

[1714832222]

1714832222

[1714832222]

1714832222

[1714832222]

1714832222

[dacoinminster]

Postal Money orders aren't reversible. You can also cash them at the post office AFAIK. 2nd day Priority mail is fairly cheap.
I'd say Western Union but their fees are ridiculous but they are less than $50 that Paxum wants for a wire transfer.
I don't know much about MoneyGram.

USD Volume on TradeHill is drying up like a cowpie in August because Paxum charges $5 to get money into their system, so all the USD is going through Dwolla into MtGox

MtGox may be taking losses from Dwolla reversals but not telling anyone about it . . .

I wonder how the "deposit cash at your local X bank" system works, and what fees are involved. I haven't been able to find anything describing it.

I think postal money orders can actually be cashed for U.S. Currency at a post office? Not sure if there is a limit on how many of these one person can cash:

https://www.usps.com/shop/money-orders.htm

Update: using postal money orders is a good way to get investigated for money laundering:
https://postalinspectors.uspis.gov/radDocs/pubs/ar01_06.pdf

[BusmasterDMA]

I wonder how the "deposit cash at your local X bank" system works, and what fees are involved. I haven't been able to find anything describing it.

Relevant thread: https://bitcointalk.org/index.php?topic=36602.0

[TheBanker]

In addition to the problem with cashing money orders, the majority of banks will not let you deposit them. The banks that do let you deposit them have very low limits like $500 for the lifetime of your account!

[Blackout]

Transferring funds has never been instant.  Instant transactions, like purchasing gas, are made on trust that the transaction will go through.  This is more trust than BTC warrants.  TradeHill and MtGox could accept reversible payments sources if they could be sure that once the payment was approved it could not be reversed.  (Unfortunately not the case with Dwolla.)

In any case you would have to wait for the funds to be approved.

Yes but this is "the scam" of the banks.  In truth.... all transactions are connected and secure and the computers know if the funds are there or not.  The "3 day" wait thing is ridiculous and it's because banks want to float your money in other investments for themselves which they are doing ANYWAY with the fake money digits that are on the computer that is your bank account.  There is NO reason for lack of instantaneous transaction from banks except for the banks games. They are all one and all connected and instantly know if funds are available or not since the entire system is a scam.  Isn't it funny how you can PUT money in a bank and it's instantly there when it's cash but when you want to get out money or deposit a check or something they do these floats....

With the routing numbers on the checks they can instantly know juts like a credit card if it's there or not - the whole network is linked. It's a shell game.

[Blackout]

Any suggestions that you have for non-reversible payment options we will evaluate and use if possible.

Another exchange recently announced the ability to deposit cash at Chase and Wells Fargo bank locations.  Sounds about as non-reversible as it gets.

The issue with this is - you, the person depositing cash. What is your  security that they will credit you on the exchange? Obviously such exchange opened  up an account at Chase or several banks, and anyone can go into any bank and deposit cash into someone's account and bamn it's instant and there.

but what's to stop the exchange from running off with the cash or saying they didn't get it?

So again I guess small amounts and trust is required.