Dwolla vs Bitcoin (Hey Dwolla, feeling the PAIN?)

happygeorge

full member

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In da Jungle!

Quote from: proudhon on January 18, 2014, 01:17:21 PM

It's a little unfair to compare a payments company with an entire distributed consensus ledger. Here's a more balanced comparison.

I guess you are right... and I did forget that the Gov't had a hand in all the Dwolla/Bitcoin crap... anyhow... my connection to dwolla is now severed

bitpop

legendary

Activity: 2912

Merit: 1060

I wanted to use dwolla with family and friends but they wanted a monthly fee for the mobile app!

So I switched to Google wallet and square cash. Soon Bitcoin.

eleuthria

legendary

Activity: 1750

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Dwolla was a fun ride. They were the fastest and cheapest way to get money out of MtGox for a long time. It basically only got off the ground due to Bitcoin, as much as they refuse to admit it. I remember when they were putting out PR releases about the growth of their service over the last year (this was mid-2011), and had a chart and timeline about events that lead to their growth. They didn't include Bitcoin.

Want to know what mirrored their graph? The USD volume on MtGox. Their *entire* growth was from Bitcoin related transactions.

tvbcof

legendary

Activity: 4760

Merit: 1283

Quote from: deepceleron on January 18, 2014, 09:29:15 PM

Quote from: meanig on January 18, 2014, 01:18:58 PM

Ben Milne (the Dwolla CEO) never liked Bitcoin because he wasn't in charge of it. End of story.

... didn't like Bitcoin because it exposed how little these midwest college students knew about banking, and then Dwolla defrauded exchanges and users when they were charged back by banks and therefore got sued.

Not only did he flat out rob Tradehill while he libeled them in the media, but he also likened Bitcoin to a truckload of rotting vegetables back when I was buying with both hands (late 2011.) The only thing I have to say to Ben Milne is:

"To go. And a couple packs of salt and mustard to please. No, not honey-mustard...the plain yellow stuff."

greenlion

hero member

Activity: 667

Merit: 500

On the subject of trash-talking Dwolla, Ben Milne's blog is absolutely terrifying. The biggest show of sock-sniffing narcissism I've ever seen.

deepceleron

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Quote from: meanig on January 18, 2014, 01:18:58 PM

Ben Milne (the Dwolla CEO) never liked Bitcoin because he wasn't in charge of it. End of story.

... didn't like Bitcoin because it exposed how little these midwest college students knew about banking, and then Dwolla defrauded exchanges and users when they were charged back by banks and therefore got sued.

bluemeanie1

sr. member

Activity: 280

Merit: 257

bluemeanie

Quote from: jubalix on January 18, 2014, 05:24:04 PM

dwolla refused my aud dollars in 2011....I will forever remember this

wait until they install Bitcoin Blacklists and you'll start having the same fun experiences with Bitcoin too.

fallout330

newbie

Activity: 16

Merit: 0

I used Dwolla to send funds to Campbx back in the summer of 2013, a couple times, without any issues. What options are there now to send funds to BTC exchanges, online?

It was Dwolla---->Campbx---->blockchain.info................any recommendations now?

Thanks

jubalix

legendary

Activity: 2632

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dwolla refused my aud dollars in 2011....I will forever remember this

Enkel

member

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Merit: 20

Quote from: Raghnar on January 18, 2014, 03:20:14 PM

I didn't bother to close my Dwolla acct but I never do anything with it now and when they send me emails, I treat them as spam and delete immediately. Maybe the fed gov't pressured them, but I still view them as enemy to bitcoin and they bailed on us, so forget them.

Same here. I used it at first, then dumped it pretty quickly. Had totally forgotten about them until I came across this thread.

Raghnar

newbie

Activity: 58

Merit: 0

I didn't bother to close my Dwolla acct but I never do anything with it now and when they send me emails, I treat them as spam and delete immediately. Maybe the fed gov't pressured them, but I still view them as enemy to bitcoin and they bailed on us, so forget them.

rext

full member

Activity: 378

Merit: 100

Poor dwolla

meanig

hero member

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Merit: 501

Ben Milne (the Dwolla CEO) never liked Bitcoin because he wasn't in charge of it. End of story.

proudhon

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It's a little unfair to compare a payments company with an entire distributed consensus ledger. Here's a more balanced comparison.

bitpop

legendary

Activity: 2912

Merit: 1060

Quote from: Littleshop on January 18, 2014, 12:58:44 PM

Quote from: bitpop on January 16, 2014, 08:40:25 AM

They ALMOST made it.

With billion dollar buyouts happening all the time in techland they should have kept with Bitcoin long enough and leveraged the checkout process for storefronts like Paypal offer merchants an alternative to 2% payouts. Basically paypal without the credit cards and therefore less chargebacks for them and no fees. They could have classified virtual currency trades differently and had HIGHER fees for them and the community would have stuck with them.

I think they could have raised their tiny fee 8x (for over $100 transactions) and the Bitcoiners would have kept using them. They could have also mandated higher/longer holdbacks on Bitcoin sellers and implemented some simple anti fraud actions to make it all be profitable for them. Highly profitable.

They then could have sold for multi-billion dollars to Google. Easily.

They didn't have much choice though. The government seized some bank accounts.

They could have quickly pivoted to become a Bitcoin exchange. They could be the Coinbase. So I don't feel bad for them.

Littleshop

legendary

Activity: 1386

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Quote from: bitpop on January 16, 2014, 08:40:25 AM

They ALMOST made it.

With billion dollar buyouts happening all the time in techland they should have kept with Bitcoin long enough and leveraged the checkout process for storefronts like Paypal offer merchants an alternative to 2% payouts. Basically paypal without the credit cards and therefore less chargebacks for them and no fees. They could have classified virtual currency trades differently and had HIGHER fees for them and the community would have stuck with them.

I think they could have raised their tiny fee 8x (for over $100 transactions) and the Bitcoiners would have kept using them. They could have also mandated higher/longer holdbacks on Bitcoin sellers and implemented some simple anti fraud actions to make it all be profitable for them. Highly profitable.

They then could have sold for multi-billion dollars to Google. Easily.

bitpop

legendary

Activity: 2912

Merit: 1060

Dumbass dwolla wanted to charge me a monthly fee to use the mobile app! Lolllll

happygeorge

full member

Activity: 146

Merit: 100

In da Jungle!

Quote from: dissident on January 16, 2014, 06:06:41 AM

free advertising, considering I didn't know what 'dwolla' was before you posted this thread.

ooops.... oh well...may the best system win!

bitpop

legendary

Activity: 2912

Merit: 1060

They ALMOST made it.

bigb159

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Quote from: BitCoinDream on January 16, 2014, 07:56:39 AM

Quote from: dissident on January 16, 2014, 06:06:41 AM

free advertising, considering I didn't know what 'dwolla' was before you posted this thread.

Same here. This is the first time I have encountered something called dwolla and I thought the the OP mis-spelled dollar !!!

Dwolla is dollar with a Bwoston accent.
Dwolla used to process USD cashouts of MtGox, I believe, but hung a bunch of people out to dry somewhere along the road and dropped Bitcoin altogether.

Topic: Dwolla vs Bitcoin (Hey Dwolla, feeling the PAIN?) (Read 2446 times)