Pages:
Author

Topic: Dwolla's Big Announcment Today- Instant Credit. No More ACH Delay - page 2. (Read 3136 times)

sr. member
Activity: 240
Merit: 250
Don't mind me.
So be it, but you're still getting more purchases per month if this takes off.  MtGox still uses it after Paypal fell off the map so they have to have a decent success rate, and even if it is within their profit margin to actively troll the Bitcoin Economy, which is stupid, that is gonna come back to bit them in the ass when someone starts something better and more protected on the merchant end.
legendary
Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
If you're already in your ecosystem, then they already have authority to redact purchases as they see fit. How does that change if it's IOU's floating around instead of virtual cash?

  umm, because it increases the likeliness that they will redact more purchases....Huh

Thats exactly my point. Not only will it increase the likeliness but this new system gives them license to do it!
hero member
Activity: 504
Merit: 500
If you're already in your ecosystem, then they already have authority to redact purchases as they see fit. How does that change if it's IOU's floating around instead of virtual cash?

  umm, because it increases the likeliness that they will redact more purchases....Huh
sr. member
Activity: 240
Merit: 250
Don't mind me.
If you're already in your ecosystem, then they already have authority to redact purchases as they see fit. How does that change if it's IOU's floating around instead of virtual cash?
legendary
Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
$3 a month isn't that bad as far as overdraft insurance goes.

From a customers point of view, this is awesome.
From a merchants point of view, it gives Dwolla license to fuck with us more.
sr. member
Activity: 240
Merit: 250
Don't mind me.
$3 a month isn't that bad as far as overdraft insurance goes.
legendary
Activity: 1246
Merit: 1016
Strength in numbers
$3 a month are they serious? Worse than just owning a credit card. I could have the worst credit on the block and still get a $500 line of credit for less than that a year.

But you can't buy bitcoins with a CC today.
sr. member
Activity: 364
Merit: 252
$3 a month are they serious? Worse than just owning a credit card. I could have the worst credit on the block and still get a $500 line of credit for less than that a year.
legendary
Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
Hey guys,

First, read this http://blog.dwolla.com/its-instant/
Then this http://www.siliconprairienews.com/2011/12/dwolla-introduces-instant-gives-users-instant-access-to-line-of-credit

Basically, Dwolla's not feature is it wille extend up to $500 credit to any customer who opts-in to the $3 a month service. If the balance is not paid, its a $5 a month late fee.

With Dwolla's history of being incompetent and malicious I have a few questions that I need Dwolla to answer. In the past, if a customer tries defrauding Dwolla (using a few different methods) then Dwolla has tried taking the funds from my account. Of course, I record every phone call with them and have caught them in multiple lies so I dont let them take the funds. This is not my only problem with them.

TradeHill and MtGox also have many issues with Dwolla.

Honestly, the reason we all use Dwolla is because its easy and cheap to do ACH. With this new system of 'instant credit' I'm afraid Dwolla can use this to scam us merchants.

Thoughts?

-C
Pages:
Jump to: