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Author Topic: OKPAY accepting bitcoin as a deposit method  (Read 10823 times)
DeathAndTaxes
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November 11, 2011, 01:50:27 PM
 #41

Ouch I was expecting fees but those are just downright stupid.

Up to $15 to get my cash from an ATM?  No thanks.  I will keep using free checks from TradeHill.

Sadly if someone did offer a decently priced bitcoin backed debit card they would get all the BTC -> USD flows.  Someday it will happen but it isn't OKPay.

Maybe someday Dwolla will offer a Dwolla debit card?  That would be at least a half step.
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November 11, 2011, 08:07:05 PM
 #42

Ouch I was expecting fees but those are just downright stupid.

Up to $15 to get my cash from an ATM?  No thanks.  I will keep using free checks from TradeHill.

Sadly if someone did offer a decently priced bitcoin backed debit card they would get all the BTC -> USD flows.  Someday it will happen but it isn't OKPay.

Maybe someday Dwolla will offer a Dwolla debit card?  That would be at least a half step.

ehh, that would be the upper limit of their card withdraw fee, 2% of 750 $. If you exceed 750$ the fee would remain at same level.

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November 11, 2011, 08:17:23 PM
 #43

Ouch I was expecting fees but those are just downright stupid.

Up to $15 to get my cash from an ATM?  No thanks.  I will keep using free checks from TradeHill.

Sadly if someone did offer a decently priced bitcoin backed debit card they would get all the BTC -> USD flows.  Someday it will happen but it isn't OKPay.

Maybe someday Dwolla will offer a Dwolla debit card?  That would be at least a half step.

ehh, that would be the upper limit of their card withdraw fee, 2% of 750 $. If you exceed 750$ the fee would remain at same level.

You can get more than $750 from an ATM somehow? Or is that like the monthly max of ATM fees?

Really I'm not going to be happy until there is a guy standing in the mall with pockets full of cash and a smart phone wearing a bitcoin shirt charging $2 for exchanges up to $1000.

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DeathAndTaxes
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Gerald Davis


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November 11, 2011, 08:24:25 PM
 #44

ehh, that would be the upper limit of their card withdraw fee, 2% of 750 $. If you exceed 750$ the fee would remain at same level.

How do you know they allow withdrawals of greater than $750?  Pretty big assumption to make.

The "solution" for withdrawing $15K might be make 20 withdraws for $300 in fees.
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November 11, 2011, 08:32:07 PM
 #45

ehh, that would be the upper limit of their card withdraw fee, 2% of 750 $. If you exceed 750$ the fee would remain at same level.

How do you know they allow withdrawals of greater than $750?  Pretty big assumption to make.

The "solution" for withdrawing $15K might be make 20 withdraws for $300 in fees.


i don't know things or make assumptions, it's only the way i understand that statement... if they put that high limit assuming no one will be able to withdraw more than 750$ it's not very nice from their part.

Instead you could use some friends help and cash-in on a POS, pay with the card and they give you cash. I do that sometimes. Lower fees and higher limits too

edit: I don't like a small thing though, they locked in the exchange rate of bitcoin > usd much lower than market price and they state "no fees" Sad

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November 11, 2011, 09:55:39 PM
 #46

A couple points:

1. OKPay is like Payoneer. It's for people who don't have access to a USA bank account, an International Debit Card and PayPal.
I'm from Tunisia. I can't have an International Debit Card. PayPal doesn't accept payments for Tunisia for some reasons I still don't know. And you can't have a bank account other than your "nonconvertible" country currency.

They are a great solution. Period.

2. The fees are small compared to the hassle it'll take you to setup a USA bank account or the risks of using a fake PayPal account.


So for someone like me, this encourages me to start mining because I can withdraw money somehow to a service I already use.
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November 11, 2011, 09:59:04 PM
 #47

how many customers does okpay have?

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November 11, 2011, 10:28:03 PM
 #48

Ouch I was expecting fees but those are just downright stupid.

Up to $15 to get my cash from an ATM?  No thanks.  I will keep using free checks from TradeHill.

Sadly if someone did offer a decently priced bitcoin backed debit card they would get all the BTC -> USD flows.  Someday it will happen but it isn't OKPay.

Maybe someday Dwolla will offer a Dwolla debit card?  That would be at least a half step.

ehh, that would be the upper limit of their card withdraw fee, 2% of 750 $. If you exceed 750$ the fee would remain at same level.

You can get more than $750 from an ATM somehow? Or is that like the monthly max of ATM fees?

Really I'm not going to be happy until there is a guy standing in the mall with pockets full of cash and a smart phone wearing a bitcoin shirt charging $2 for exchanges up to $1000.

Why, so he can get mugged?  Bad idea.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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November 13, 2011, 08:30:00 AM
 #49


2. The fees are small compared to the hassle it'll take you to setup a USA bank account or the risks of using a fake PayPal account.

So for someone like me, this encourages me to start mining because I can withdraw money somehow to a service I already use.

+1.  This is the reason we have this forum.  Most people in North America or Western Europe won't have a need for OKPAY, but there's a whole world out there that needs a solution.

And anyone in Tunisia, or all of Africa for that matter, can now have a business and accept payments over the Internet using Bitcoins.  We live in exciting times!

BitPay : The World Leader in Bitcoin Business Solutions

https://bitpay.com

Does your website accept bitcoins?
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November 14, 2011, 09:53:11 AM
 #50

Feature request on Steam Smiley
http://forums.steampowered.com/forums/showthread.php?t=2231533

If you use the Steam service and you like the Bitcoin project, you should +1 this request! Grin

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November 14, 2011, 10:00:40 AM
 #51

Ouch I was expecting fees but those are just downright stupid.

Up to $15 to get my cash from an ATM?  No thanks.  I will keep using free checks from TradeHill.

Sadly if someone did offer a decently priced bitcoin backed debit card they would get all the BTC -> USD flows.  Someday it will happen but it isn't OKPay.

Maybe someday Dwolla will offer a Dwolla debit card?  That would be at least a half step.

ehh, that would be the upper limit of their card withdraw fee, 2% of 750 $. If you exceed 750$ the fee would remain at same level.

You can get more than $750 from an ATM somehow? Or is that like the monthly max of ATM fees?

Really I'm not going to be happy until there is a guy standing in the mall with pockets full of cash and a smart phone wearing a bitcoin shirt charging $2 for exchanges up to $1000.

Why, so he can get mugged?  Bad idea.

No one would do that. Everyone loves mall bitcoin guy.

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November 14, 2011, 10:48:27 PM
 #52

Feature request on Steam Smiley
http://forums.steampowered.com/forums/showthread.php?t=2231533

If you use the Steam service and you like the Bitcoin project, you should +1 this request! Grin

Why?  Just request that Steam take Bitcoin as a payment method.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

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November 14, 2011, 10:50:57 PM
 #53

OKPAY charges its users $35 to transfer funds to your bank account.  Angry

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November 14, 2011, 10:59:06 PM
 #54

Ouch I was expecting fees but those are just downright stupid.

Up to $15 to get my cash from an ATM?  No thanks.  I will keep using free checks from TradeHill.

Sadly if someone did offer a decently priced bitcoin backed debit card they would get all the BTC -> USD flows.  Someday it will happen but it isn't OKPay.

Maybe someday Dwolla will offer a Dwolla debit card?  That would be at least a half step.

ehh, that would be the upper limit of their card withdraw fee, 2% of 750 $. If you exceed 750$ the fee would remain at same level.

You can get more than $750 from an ATM somehow? Or is that like the monthly max of ATM fees?

Really I'm not going to be happy until there is a guy standing in the mall with pockets full of cash and a smart phone wearing a bitcoin shirt charging $2 for exchanges up to $1000.

Why, so he can get mugged?  Bad idea.

No one would do that. Everyone loves mall bitcoin guy.

Just like nobody robs the Salvation Army Santas that collect change outside of stores.  Oh wait, they do get robbed.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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November 14, 2011, 11:00:16 PM
 #55

Why?  Just request that Steam take Bitcoin as a payment method.
http://forums.steampowered.com/forums/showthread.php?t=1824081
http://forums.steampowered.com/forums/showthread.php?t=2070297

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November 15, 2011, 01:56:19 PM
 #56

Interesting to see all the negative reactions in those threads, by people who are already dealing in purely digital goods. 

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DeathAndTaxes
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November 15, 2011, 02:27:51 PM
 #57

People often attack what they don't understand.  If Steam ever did accept BTC the same people attacking it would be telling their friends how awesome and revolutionary it is.  A large portion of population is always going to follow. 

BTC = Stupid. 
Steam adopts BTC = Awesome.
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November 15, 2011, 03:39:19 PM
 #58

People often attack what they don't understand.  If Steam ever did accept BTC the same people attacking it would be telling their friends how awesome and revolutionary it is.  A large portion of population is always going to follow. 

BTC = Stupid. 
Steam adopts BTC = Awesome.
On a related note Steam = Stupid

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DeathAndTaxes
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Gerald Davis


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November 15, 2011, 04:49:36 PM
 #59

People often attack what they don't understand.  If Steam ever did accept BTC the same people attacking it would be telling their friends how awesome and revolutionary it is.  A large portion of population is always going to follow.  

BTC = Stupid.  
Steam adopts BTC = Awesome.
On a related note Steam = Stupid

MEH I never thought I would, but I like Steam.  No need to keep copies of games, no worries about scratched CD, lost CD keys, etc.  Often I find good discounted games that I wouldn't otherwise even realize (or buy if gamestop wanted full price for them).  I think it is a win-win.  

I can't remember the last non-Steam (or Steam alternatives) game I bought.
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November 15, 2011, 05:08:31 PM
 #60

People often attack what they don't understand.  If Steam ever did accept BTC the same people attacking it would be telling their friends how awesome and revolutionary it is.  A large portion of population is always going to follow. 

BTC = Stupid. 
Steam adopts BTC = Awesome.
Even though Steam doesn't accept bitcoin directly, this might already be happening.  A great way to obtain games for a discount is by buying keys online (where people have found the games discounted in retail outlets and offer them up for sale online).  Bitcoin is a great way to mitigate the risk of handing out a game key online.  The keys are effectively bearer instruments and irreversible once distributed.  So, selling them for paypal or CC is risky for the merchant.  Here are a couple places you can buy them for bitcoin:

gamerkeys.net
bitcoin2cdkey.com

(gasteve on IRC) Does your website accept cash? https://bitpay.com
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