Thanks so much for all the info. I was not aware of the Surety Bond issue.
A lot to think about for sure. I certainly don't have the money to do something like this on my own. I think we can get away with a wild, wild west approach - just do it until they complain, but eventually they will come knocking on the door... as MtGox is now finding out. I wonder which of the US based exchanges will be next to feel the wrath of the Fed.
Topic: CryptoCurrent // Bitcoin Sales - Simple & Secure (Read 2903 times)
Would you care to expand on your comment "the general consensus at the Bitcoin Conference that simply registering as an MSB with FinCEN is not enough to operate legally."
From a legal perspective, what is missing? Anything to do with state-by-state KYC compliance. Just curious because I am thinking of trying my hand at an exchange, but I don't want to ruin my life doing it.
An aside, I am sick of the intrusion by the banks and governments. If I send money from my bank to Dwolla - it seems to me that there should be some sort of flag that says the money is legitimately earned and already taxed and should not have to be reported to these A-HOLES again and again everytime I move the money around. A strong Bitcoin economy (where we don't have to cash out to USD) can't come soon enough for me.
From a legal perspective, what is missing? Anything to do with state-by-state KYC compliance. Just curious because I am thinking of trying my hand at an exchange, but I don't want to ruin my life doing it.
An aside, I am sick of the intrusion by the banks and governments. If I send money from my bank to Dwolla - it seems to me that there should be some sort of flag that says the money is legitimately earned and already taxed and should not have to be reported to these A-HOLES again and again everytime I move the money around. A strong Bitcoin economy (where we don't have to cash out to USD) can't come soon enough for me.
Updated the first post!
Update:
Due to scammers, we are going to be selling ONLY to our pre-existing clients once we reopen this week. There will also be some new policies in effect.
Due to scammers, we are going to be selling ONLY to our pre-existing clients once we reopen this week. There will also be some new policies in effect.
Glad to see that the foot went down. IF someone abuses the service and they do make a deposit that was not approved I would hold onto their money for a week, ask for a bitcoin address to send the money back to (refund address) less fees and processing work. That will teach them next time. Good luck guys and keep up the great work!
Update:
Due to scammers, we are going to be selling ONLY to our pre-existing clients once we reopen this week. There will also be some new policies in effect.
Due to scammers, we are going to be selling ONLY to our pre-existing clients once we reopen this week. There will also be some new policies in effect.
We had high hopes of opening shop again today since the rate was relatively stable over the weekend, but with it currently falling so drastically in such a short amount of time, we're remaining "closed" for the time being.
Also: if you make a deposit without first receiving the go-ahead from us, the funds will be held for up to 72 hours and will incur a larger fee.
Also: if you make a deposit without first receiving the go-ahead from us, the funds will be held for up to 72 hours and will incur a larger fee.
Quick update: we are not currently accepting orders.
Site is down for maintenance / tweaking, but we're still accepting orders via email!
It always makes us smile when we see the confirmation email come through and are able to initiate the transfer within minutes! 
Sometimes it takes a few hours, but we process orders as quickly as possible, and really enjoy hearing that clients are happy with our service!
Sometimes it takes a few hours, but we process orders as quickly as possible, and really enjoy hearing that clients are happy with our service!Pretty soon if you don't have the BTC transferred in 30 minutes you'll get complaints! People get spoiled with such fast service and always expect instant responses. I just hope everyone understands even 1-3 hours is great service. This really sure beats messing around with Dwolla/Mt.Gox/Bitinstant.
Keep up the great work guys.
I found CC here and decided to give them a try today. Everything went perfect and I'll be happy to use them again, very soon! The Bitcoins were transferred very quickly and they sent me an email letting me know they were transferred with a direct link to blockchain so I can easily check out the transfer. Nice little touch.
Thank you for the review, opentoe! We hope to see you again soon. Yes, you did see me soon, I did another bitcoin buy yesterday and it was just as perfect as the first. I only live 10 minutes away from the bank. The bitcoins were already in my account when I got home with a couple confirmations. Very nice!
I found CC here and decided to give them a try today. Everything went perfect and I'll be happy to use them again, very soon! The Bitcoins were transferred very quickly and they sent me an email letting me know they were transferred with a direct link to blockchain so I can easily check out the transfer. Nice little touch.
Thank you for the review, opentoe! We hope to see you again soon. 
I found CC here and decided to give them a try today. Everything went perfect and I'll be happy to use them again, very soon! The Bitcoins were transferred very quickly and they sent me an email letting me know they were transferred with a direct link to blockchain so I can easily check out the transfer. Nice little touch.
told ya man. he is THE best. Today we received 3 cash orders ... one of which was an empty envelope. It was not tampered with, nor was the label removed and replaced, so either someone stole the cash from the package miraculously, or the client sent an empty envelope knowing we would at least split the "loss" with them. We did split the loss and sent $400 worth of btc, but this makes it clear that accepting payment via this method is not a reliable option. 
It's very admirable of you to have sent the $400 dollars worth of btc to whomever anyway. But I suggest you make people understand that if money is missing from the envelope you are not responsible. As you shouldn't be.Emailing the person in question, he believes me that the envelope was empty and says now that the lady at the post office was in a hurry and he didn't wait to make sure that she actually sealed the cash inside.
Hm.
As for splitting the loss - I'm just doing what I hope someone would do for me. Then again, I think I would have packaged the cash myself and never let a postal employee do so! Ah well, this has been a month of losses, and a month of lessons!
But yeah this person, based upon your posts after this prove he/she is likely a scammer.
I wish you the best of luck with your business as you seem highly reliable and everyone is saying youre good!
I found CC here and decided to give them a try today. Everything went perfect and I'll be happy to use them again, very soon! The Bitcoins were transferred very quickly and they sent me an email letting me know they were transferred with a direct link to blockchain so I can easily check out the transfer. Nice little touch.
I was referred to Cryptocurrent about a month ago from a very trustworthy partner. Since then ive deposited over 15k with cryptocurrent. The bank deposits at Bank of America are very very simple and easy. Ive also had my funds always within an hour of notifying him of my deposit. Hes on top with all the latest security measures and he personally handles his support and very fast at that. He must be by a PC all day long! (I don't blame him i am too haha)
If youre hesitant about using cryptocurrents services just shoot him an email and he'll have everything laid out plainly and easily for you. I excited for more people to use his services as its just going to make their lives much easier.
Thanks again cryptocurrent. I wish you much success!!
If youre hesitant about using cryptocurrents services just shoot him an email and he'll have everything laid out plainly and easily for you. I excited for more people to use his services as its just going to make their lives much easier.
Thanks again cryptocurrent. I wish you much success!!
Changing stories? Just HANDING CASH to a US postal worker who has a 45% chance of being fired at any moment? I'd say there is a good 76.4% chance that he sent a blank envelope. Sorry you got scammed Jon :/
Now he's telling me he handed the postal employee the cash along with the label, said he wanted to ship it, and then didn't hang around to see if she actually put the cash envelope into the Express Mail envelope. :\
Today we received 3 cash orders ... one of which was an empty envelope. It was not tampered with, nor was the label removed and replaced, so either someone stole the cash from the package miraculously, or the client sent an empty envelope knowing we would at least split the "loss" with them. We did split the loss and sent $400 worth of btc, but this makes it clear that accepting payment via this method is not a reliable option.
It's very admirable of you to have sent the $400 dollars worth of btc to whomever anyway. But I suggest you make people understand that if money is missing from the envelope you are not responsible. As you shouldn't be.
If I ever get out of this Coinbase Fiasco alive I will be sure switching to you guys to give a test run shortly.
Is there a reason why cryptocurrent USD per BTC shows about 49, whereas current price is about 47 - on top of that there is 5% ? Or is the 49 price includes 5% ?
Thanks
Thanks
Jump to: