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Author Topic: Finally, a BANK is accepting Bitcoins now!  (Read 3422 times)
cbeast
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November 11, 2011, 02:58:48 PM
 #21

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created:      2003-07-19 18:39:41 UTC
modified:     2011-11-01 04:31:27 UTC
expires:      2020-07-19 18:39:41 UTC

It looks like they bought the domain from someone but did not update the records.


Searching the address comes up with nothing but scams and scam warnings, with no way to contact/find the owner.  I'll pass, thanks.  


Can you provide a link to scam warnings? I didn't find them.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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BadBear
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November 11, 2011, 03:32:40 PM
 #22

http://www.forexfactory.com/showthread.php?t=257596

http://www.scam.com/showthread.php?t=119396&page=2

http://forum.aa419.org/viewtopic.php?t=41935&sid=11d036607e9b3bd8f3a4e6a990d62084

From the first page, it's registered in an offshore tax haven, which tend to be full of scams.  Doesn't mean all of them are but it isn't encouraging, along with the attempts anonymity, it's enough to turn me off.  I'll keep my money where I can get to it.  

And their fees are worse than the bank.  

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November 12, 2011, 12:18:03 PM
 #23

Their fees are horrendous.  I wish I'd taken a screenshot of the page I linked to in this post because the information about their debit card fees has been removed from the page since I posted it.

https://bitcointalk.org/index.php?topic=51403.msg614584#msg614584

They appear to be predators who offer their debit cards to customers who for some reason can't get conventional a debit Mastercard from their bank and who gouge those customers with fees. 

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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November 12, 2011, 12:27:44 PM
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I hope that they are just updating them with lower fees ...

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November 12, 2011, 12:46:05 PM
 #25

I signed up with an account with them yesterday to check them out. The "accepting" Bitcoins thing is pretty useless. Although yes you can send Bitcoins to your OKPAY account, but thats about all you can do with it. You cannot exchange Bitcoins for any other currency on their site, you can't fund a Debit Card with them or buy USD or EUR with them, basically the full extent is I suppose you could use them for some type of online wallet but thats it. In that respect I "accept" Bitcoins too but I don't see anyone getting excited about that. Smiley
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November 12, 2011, 01:24:30 PM
 #26

They did say on their facebook that they will implement a system where merchants can get payment in bitcoin. They expect to unroll it next week.

But even if you can't do jack shit with them, then still bitcoin is suddenly seen by a lot of people: great advertisement.

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November 12, 2011, 09:43:50 PM
 #27

Their fees are horrendous.  I wish I'd taken a screenshot of the page I linked to in this post because the information about their debit card fees has been removed from the page since I posted it.

https://bitcointalk.org/index.php?topic=51403.msg614584#msg614584

They appear to be predators who offer their debit cards to customers who for some reason can't get conventional a debit Mastercard from their bank and who gouge those customers with fees. 

Arguably, without these 'predators' there would be no other means in many cases for these people to send or receive payments. It's a service at premium rate where conventional methods nonexistent.
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November 13, 2011, 09:01:20 AM
 #28

I signed up with an account with them yesterday to check them out. The "accepting" Bitcoins thing is pretty useless. Although yes you can send Bitcoins to your OKPAY account, but thats about all you can do with it. You cannot exchange Bitcoins for any other currency on their site, you can't fund a Debit Card with them or buy USD or EUR with them, basically the full extent is I suppose you could use them for some type of online wallet but thats it. In that respect I "accept" Bitcoins too but I don't see anyone getting excited about that. Smiley

Someone in another thread managed to exchange for dollars
They received an exchange rate of $1.65 for 1 bitcoin.


https://bitcointalk.org/index.php?topic=51403.0
I opened an account and sent 1 bitcoin.  They advertise 0% commission, but based on the MtGox pricing of 2.95, they are taking about 30 cents.



also, it looks like once you have a balance > $15 you can order the debit Mastercard through the mail.  You can reload the balance anytime and shop with it anywhere Mastercard is accepted.

So yes, I suppose now you can spend your bitcoins anywhere Mastercard is accepted.  But it's much more expensive for you, and the normal debit fees apply for the merchants.  But, if you have alot of bitcoins and you want to cash them out quickly, sure put them onto a debit Mastercard and go shopping!

Interestingly anyone with $1000 can set themselves up on their site as a currency exchange.
https://www.okpay.com/en/support/faq.html
It may be a way for anyone to easily buy and sell bitcoins.
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