BTCPak - Exchange your Bitcoins for MP [$100, $250, $500 and $1000 MPs] - page 5.

DBordello

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Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

Quote from: Stephen Gornick on November 30, 2012, 01:05:08 AM

Quote from: DBordello on November 29, 2012, 09:19:36 PM

Mt. Gox green address, or through the blockchain.info mixer, you receive the MoneyPak code within minutes.

ORLY? That's awesome!

I was going to suggest some sort of wallet so that the MoneyPak code could be acquired within minutes. So a green address solves that.

Though I have no idea how the blockchain.info mixer would be protected against a Finney attack though. This is a perfect example of what not to do. When mining, include a transaction that spends to self. If a block is solved, hold the block and the transaction without broadcasting. Send a 0/unconfirmed to a blockchain.info/wallet, then send payment to BTCPak through the mixer. Wait a few seconds until BTCPak shows payment and reveals the MoneyPak code. Then release the mined block which double spends the coin.

Profit.

I'm suspecting there must be something I'm overlooking with how you are notified by the mixer, or something.

I appreciate your concern against a finney attack. However, BlockChain.info takes precautions against these types of attacks: https://blockchain.info/wallet/send-anonymously

In any case, they assume zero-confirmation risk. If they get double-spent (or a finney attack), the input to the mixer would be invalid, not the output.

Although an attack is always possible, we haven't had an issue yet. Hopefully this continues

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: DBordello on November 29, 2012, 09:19:36 PM

Mt. Gox green address, or through the blockchain.info mixer, you receive the MoneyPak code within minutes.

ORLY? That's awesome!

I was going to suggest some sort of wallet so that the MoneyPak code could be acquired within minutes. So a green address solves that.

Though I have no idea how the blockchain.info mixer would be protected against a Finney attack though. This is a perfect example of what not to do. When mining, include a transaction that spends to self. If a block is solved, hold the block and the transaction without broadcasting. Send a 0/unconfirmed to a blockchain.info/wallet, then send payment to BTCPak through the mixer. Wait a few seconds until BTCPak shows payment and reveals the MoneyPak code. Then release the mined block which double spends the coin.

Profit.

I'm suspecting there must be something I'm overlooking with how you are notified by the mixer, or something.

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

Quote from: sinner on November 29, 2012, 09:17:58 PM

how long does it usually take to receive GDMP for bitcoins?

who is the main competitor?

Our site generally waits for 6 confirmations. However, if you send from the Mt. Gox green address, or through the blockchain.info mixer, you receive the MoneyPak code within minutes.

Our main competitor is Fastcash4Bitcoins.

I hope this helps you make an informed decision Grin

Dan

sinner

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Activity: 615

Merit: 500

how long does it usually take to receive GDMP for bitcoins?

who is the main competitor?

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

Quote from: Viceroy on November 28, 2012, 11:41:38 AM

Quote from: DBordello on November 27, 2012, 02:05:27 PM

Sorry for the inconvenience.

As a potential customer who decided to go with a competitor, I think you should be more transparent with your pricing scheme. The reason I chose the competitor is that they were more transparent with their pricing scheme even updating the current buy price "on the fly" and plainly stating a $10 fee for processing. (Though I do take issue with the competitor for an additional 3% up-charge between their current buy price and mt gox).

Consumers want to understand your model, personally I don't like your 'black box' pricing approach and so I am letting you know that for this reason alone I chose a competitors site over yours. If your site were more dynamic and offered a better explanation of your pricing model I would have given it a try but I after realized your markup was >10% with no explanation I was forced to seek out an alternative.

My 0.02 btc

Viceroy,

I appreciate your honest feedback.

I am trying to go for a very clean, simple interface. In doing so, the "fees" are slightly hidden. However, I will consider a better way to display this sort of information. Obviously it is not hidden, since it takes two seconds to back calculate our buying price.

Thank you for the feedback.

Dan

Viceroy

hero member

Activity: 924

Merit: 501

Quote from: DBordello on November 27, 2012, 02:05:27 PM

Sorry for the inconvenience.

As a potential customer who decided to go with a competitor, I think you should be more transparent with your pricing scheme. The reason I chose the competitor is that they were more transparent with their pricing scheme even updating the current buy price "on the fly" and plainly stating a $10 fee for processing. (Though I do take issue with the competitor for an additional 3% up-charge between their current buy price and mt gox).

Consumers want to understand your model, personally I don't like your 'black box' pricing approach and so I am letting you know that for this reason alone I chose a competitors site over yours. If your site were more dynamic and offered a better explanation of your pricing model I would have given it a try but I after realized your markup was >10% with no explanation I was forced to seek out an alternative.

My 0.02 btc

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

Quote from: illWill on November 27, 2012, 04:08:56 AM

+1 to the service. Very fluid. Highly recommended

I am glad that you enjoyed it.

You may have noticed, we are currently "skating" along at limited inventory levels. We should be back to normal inventory levels soon.

Sorry for the inconvenience.

Dan

illWill

member

Activity: 68

Merit: 10

+1 to the service. Very fluid. Highly recommended

koin

legendary

Activity: 873

Merit: 1000

Quote from: DeathAndTaxes on November 26, 2012, 10:06:34 PM

Quote from: Viceroy on November 25, 2012, 08:58:51 PM

Your $1000 MP works out to 11.3895 per btc but MtGox current price is 12.50915 giving you $98 in fees.

Its called profit.

and a darn nice one at that.

the problem is turning over the bitcoins received into cash (paper currency) that is then used to buy replacement moneypaks. to do this you need a lot of capital since the exchanges don't always process withdrawals quickly or inexpensively.

there's room for competition for sure.

DeathAndTaxes

donator

Activity: 1218

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Gerald Davis

Quote from: Viceroy on November 25, 2012, 08:58:51 PM

How do you determine your fees, they seem awfully high based on current MtGox price.

Your $1000 MP works out to 11.3895 per btc but MtGox current price is 12.50915 giving you $98 in fees.

The $250 MP charges $30 in fees.

Its called profit. Did you expect he would sell at cost? Does any store sell at cost?

Viceroy

hero member

Activity: 924

Merit: 501

How do you determine your fees, they seem awfully high based on current MtGox price.

Your $1000 MP works out to 11.3895 per btc but MtGox current price is 12.50915 giving you $98 in fees.

The $250 MP charges $30 in fees.

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

Quote from: Stephen Gornick on November 09, 2012, 01:03:46 AM

Quote from: DBordello on November 01, 2012, 10:19:40 AM

Quote from: Stephen Gornick on October 25, 2012, 12:21:01 AM

Quote

Load $25 & Get $25 when you sign up for @Serve now thru 12/31. No credit checks, monthly or annual fees!

- http://twitter.com/AmericanExpress/status/258576655528914945

Here's their offer:
- https://www.serve.com/load25

So if you were going to buy a prepaid card which takes MoneyPak for loading, Serve will work -- and you get a extra $25 after your first load.

This is a great plan. Thank you for the suggestion.

I did end up doing this. The free $25 got added by the time I checked my balance a couple hours later. So it does work.

You can then spend the funds from the Serve card at an ATM and wherever AmEx is accepted. Or you can withdraw the funds to your own bank account. You can also send the funds to another Serve customer (person-to-person, like PayPal).

I am glad everything worked out. This seems like a good option.

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: DBordello on November 01, 2012, 10:19:40 AM

Quote from: Stephen Gornick on October 25, 2012, 12:21:01 AM

Quote

Load $25 & Get $25 when you sign up for @Serve now thru 12/31. No credit checks, monthly or annual fees!

- http://twitter.com/AmericanExpress/status/258576655528914945

Here's their offer:
- https://www.serve.com/load25

So if you were going to buy a prepaid card which takes MoneyPak for loading, Serve will work -- and you get a extra $25 after your first load.

This is a great plan. Thank you for the suggestion.

I did end up doing this. The free $25 got added by the time I checked my balance a couple hours later. So it does work.

You can then spend the funds from the Serve card at an ATM and wherever AmEx is accepted. Or you can withdraw the funds to your own bank account. You can also send the funds to another Serve customer (person-to-person, like you can with PayPal).

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

Quote from: Stephen Gornick on October 25, 2012, 12:21:01 AM

Quote from: DBordello on October 24, 2012, 08:11:07 PM

Shameless bump.

Here's a suggestion

Quote

Load $25 & Get $25 when you sign up for @Serve now thru 12/31. No credit checks, monthly or annual fees!

- http://twitter.com/AmericanExpress/status/258576655528914945

Here's their offer:
- https://www.serve.com/load25

So if you were going to buy a prepaid card which takes MoneyPak for loading, Serve will work -- and you get a extra $25 after your first load.

This is a great plan. Thank you for the suggestion.

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: DBordello on October 24, 2012, 08:11:07 PM

Shameless bump.

Here's a suggestion

Quote

Load $25 & Get $25 when you sign up for @Serve now thru 12/31. No credit checks, monthly or annual fees!

- http://twitter.com/AmericanExpress/status/258576655528914945

Here's their offer:
- https://www.serve.com/load25

So if you were going to buy a prepaid card which takes MoneyPak for loading, Serve will work -- and you get a extra $25 after your first load.

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

Shameless bump.

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

We had some low inventory levels, but they have returned to normal. Our liquidity is no longer an issue.

Dan

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

Quote from: DBordello on October 15, 2012, 11:37:44 PM

As you may have noticed, our inventory is extremely low today. However, we should be back at full inventory levels tomorrow. Sorry for the inconvenience.

Dan

We are back to full inventory. Sorry for the inconvenience.

Dan

DBordello

sr. member

Activity: 349

Merit: 250

BTCPak.com - Exchange your Bitcoins for MP!

As you may have noticed, our inventory is extremely low today. However, we should be back at full inventory levels tomorrow. Sorry for the inconvenience.

Dan

TheHarbinger

sr. member

Activity: 378

Merit: 250

Why is it so damn hot in here?

Picked one up earlier today. Grin

Topic: BTCPak - Exchange your Bitcoins for MP [$100, $250, $500 and $1000 MPs] - page 5. (Read 22644 times)