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Author Topic: Direct pool payout to paypal.....  (Read 2092 times)
snedie
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March 29, 2011, 11:35:02 PM
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Anyone know of any pools support this, or if it is even possible?

Right now I use CoinCard too transfer my bitcoins to paypal which works pretty well, except they get a nice little cut. Any info on this would be great.... Cheesy
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Stephen Gornick
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March 30, 2011, 12:27:16 AM
 #2

Anyone know of any pools support this, or if it is even possible?

Yes there is one "pool" that will pay out directly to PayPal, ...  Compute 4 Cash.
   http://en.bitcoin.it/wiki/Compute_4_Cash

And no, i'm not serious.

snedie
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March 30, 2011, 01:48:19 AM
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Wow, nice method for coming off as mature.

Maybe next time you might try using some intellect and realise that a pool operator who can pay directly to paypal for an additional fee (Of say 1-5%) would have a far greater appeal than those which require high income users to deal with one, or more, third parties in order to convert their coins, by which time they have lost more than 10%.

If anyone who doesn't have the intelligence of an amoeba wishes to expand on this topic please do so.


My sincere appologies to sgornick, I was looking at the wrong tab in chrome and thought he had linked me to a different page.  Smiley
doublec
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March 30, 2011, 03:35:14 AM
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Wow, nice method for coming off as mature.
I'm not sure what your issue with sgornick's post is. Compute4Cash is a bitcoin pool and they pay to paypal. They are just targeting a different audience than bitcoin users.
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March 30, 2011, 05:42:38 AM
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They are just targeting a different audience than bitcoin users.
By different you mean, willing to pay a 50% fee to participate in the pool.

Stick with CoinCard. Their "little cut" is literally quite little. And that's a good thing.

Buy & Hold
caveden
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March 30, 2011, 07:23:48 AM
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Actually, stick with your bitcoins. Avoid converting to fiat.

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Michael Hendricks
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March 30, 2011, 07:30:19 PM
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a pool operator who can pay directly to paypal for an additional fee (Of say 1-5%) would have a far greater appeal than those which require high income users to deal with one, or more, third parties in order to convert their coins, by which time they have lost more than 10%.

I know you crossed-out the comment above, but it might suggest a minor confusion about CoinCard, so I thought I'd comment anyway.  CoinCard's PayPal fees range from 1-3% depending on the order size.  However, you don't pay any PayPal fees to receive these payments, so it's one of the least expensive ways to receive PayPal funds.

There is also one reputable pool operator who's integrating the CoinCard API into his pool to automate PayPal payments.  I don't know if his plans are public, so I won't mention the pool by name.
jgarzik
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March 30, 2011, 08:13:04 PM
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There is also one reputable pool operator who's integrating the CoinCard API into his pool to automate PayPal payments.  I don't know if his plans are public, so I won't mention the pool by name.

hmmm....   I might have to try this with my pool.


Jeff Garzik, bitcoin core dev team and BitPay engineer; opinions are my own, not my employer.
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snedie
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March 31, 2011, 11:06:48 AM
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Curious as to why some of the smaller (More GPU miner based) pools haven't started to use this API then. If it's a matter of having to send payments for really small amounts, then simply putting a minimum transfer limit would alleviate this.
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