Not that Mt. Gox seems interested in accepting PayPal. But with their volume they probably could
Mt Gox used to accept PayPal for transfers in and transfers out. But PayPal froze their account after scammers bought Bitcoins with stolen PayPal accounts. 
Topic: Is it too hard to enter the bitcoin world? (Read 5815 times)
I never even got to that point.
Dwolla is the reason I started using Mt. Gox - it's so easy and blissfully cheap...
It takes a day or two to confirm your bank account, but after that its pretty simple...Easy, my nuclear-white butt. I spent about an hour trying to figure out how to transfer money to a Dwolla account, and just gave up.
Dwolla is the reason I started using Mt. Gox - it's so easy and blissfully cheap...
Easy, my nuclear-white butt. I spent about an hour trying to figure out how to transfer money to a Dwolla account, and just gave up.
you can always buy some 2nd life dollars with a credit card then convert it to BTC, probably the quickest/easiest way right now albeit a bit odd.
Where can you buy bitcoins with L$?
you can always buy some 2nd life dollars with a credit card then convert it to BTC, probably the quickest/easiest way right now albeit a bit odd.
Where can you buy bitcoins with L$?
Dwolla is the reason I started using Mt. Gox - it's so easy and blissfully cheap...
you can always buy some 2nd life dollars with a credit card then convert it to BTC, probably the quickest/easiest way right now albeit a bit odd.
Now that PayPal is refusing to cooperate, I don't see it gaining mass popularity until people can open trading accounts with credit or debit cards. That's what I was expecting to be able to do when I first found out about it, but then it turns out that I have to wire money from my bank account to e-currency A, which is the only way I can pick up e-currency B which is the only thing Mt. Gox will accept. That's a great way to scare off newbies. If I hadn't encountered Bitcoin2Cash BY ACCIDENT on this forum, I would have given up. Silver dealers would be getting the money that bitcoin sellers will now end up getting.
Back on topic:
How hard is it to acquire any currency if you're new to the game?
If I land on the shore of some foreign country, with only the clothes on my back, I'll have to either rely on the kindness of strangers or find something to do in exchange for money. I don't see how Bitcoin is any different.
How hard is it to acquire any currency if you're new to the game?
If I land on the shore of some foreign country, with only the clothes on my back, I'll have to either rely on the kindness of strangers or find something to do in exchange for money. I don't see how Bitcoin is any different.
You don't see how Bitcoin is different?
First, Bitcoin is not an island and second, nobody is washed onto it's shore. It'll just be ignored if too unattractive.
I think there's a silver lining to all of this. Essentially, if someone wants bitcoins they can either (a) figure out the logistics of the financial markets and buy in, or (b) figure out some good or service that they can offer in exchange for bitcoins. When I was first turned onto btc, I bought a few, but buying them was complex enough that eof and I decided that it wouldn't be that much more work to set up a micro-business - and thus http://www.iusecoins.com was born 
. If others are driven by logic similar to ours, then the current state of affairs might actually be driving the growth of the real bitcoin economy (which I think we all prefer to massive speculative swings).
. If others are driven by logic similar to ours, then the current state of affairs might actually be driving the growth of the real bitcoin economy (which I think we all prefer to massive speculative swings). Hm. Paypal has banned currency exchange, but have they banned payment to sites that only facilitate currency exchange?
As in, I PayPal some dollars to Mt. Gox, "an e-wallet service". Then I exchange those dollars for bitcoins there. Does this count as using PayPal for currency exchange? I mean, banks do currency exchange, but I'm sure PayPal wouldn't stop Bank of America from opening an account as a convenience to its customers.
Not that Mt. Gox seems interested in accepting PayPal. But with their volume they probably could---the proportion of dishonest people is not that high.
I don't think the problem is so much that PayPal has "banned" sending to currency exchangers like MtGox, but that they are very pro-sender when it comes to disputes. Too many fraudsters have sent money to Mtgox, and then later claimed they never received their goods, and it was impossible to convince Paypal that the purchaser was scamming. As in, I PayPal some dollars to Mt. Gox, "an e-wallet service". Then I exchange those dollars for bitcoins there. Does this count as using PayPal for currency exchange? I mean, banks do currency exchange, but I'm sure PayPal wouldn't stop Bank of America from opening an account as a convenience to its customers.
Not that Mt. Gox seems interested in accepting PayPal. But with their volume they probably could---the proportion of dishonest people is not that high.
Hm. Paypal has banned currency exchange, but have they banned payment to sites that only facilitate currency exchange?
As in, I PayPal some dollars to Mt. Gox, "an e-wallet service". Then I exchange those dollars for bitcoins there. Does this count as using PayPal for currency exchange? I mean, banks do currency exchange, but I'm sure PayPal wouldn't stop Bank of America from opening an account as a convenience to its customers.
Not that Mt. Gox seems interested in accepting PayPal. But with their volume they probably could---the proportion of dishonest people is not that high.
As in, I PayPal some dollars to Mt. Gox, "an e-wallet service". Then I exchange those dollars for bitcoins there. Does this count as using PayPal for currency exchange? I mean, banks do currency exchange, but I'm sure PayPal wouldn't stop Bank of America from opening an account as a convenience to its customers.
Not that Mt. Gox seems interested in accepting PayPal. But with their volume they probably could---the proportion of dishonest people is not that high.
The "Generate Coins" option has already been removed from the code, so the next release won't have it. I think it should be removed from weusecoins as well, but didn't manage to convince Stefan of that yet.
The other problems stand. I think everyone agrees it's too hard to buy coins, and nobody wants Bitcoin to become a geek niche. The problem is it's difficult to solve.
Moving money from credit cards into BitCoins is just fundamentally hard because of chargebacks and the fact that currency exchange (of any currency) is often forbidden by payment processors due to it competing with the banks cash advance loans. I don't know any good solutions for that.
Non-CC based services are going to have country restrictions and time delays. Buying from people you know is the best way but obviously doesn't apply to most people.
More generally, the Bitcoin community is very mining focused right now. There is a bubble on and so the bulk of the effort is going into either mining or developing alternative implementations. There isn't much support for merchants so the economy is still very small.
The other problems stand. I think everyone agrees it's too hard to buy coins, and nobody wants Bitcoin to become a geek niche. The problem is it's difficult to solve.
Moving money from credit cards into BitCoins is just fundamentally hard because of chargebacks and the fact that currency exchange (of any currency) is often forbidden by payment processors due to it competing with the banks cash advance loans. I don't know any good solutions for that.
Non-CC based services are going to have country restrictions and time delays. Buying from people you know is the best way but obviously doesn't apply to most people.
More generally, the Bitcoin community is very mining focused right now. There is a bubble on and so the bulk of the effort is going into either mining or developing alternative implementations. There isn't much support for merchants so the economy is still very small.
How hard is it to acquire physical gold or cash? Now how hard is it to acquire Bitcoins? Remember, Bitcoins are non-refundable. Of course it’s a bit difficult to get them.
Back on topic:
How hard is it to acquire any currency if you're new to the game?
If I land on the shore of some foreign country, with only the clothes on my back, I'll have to either rely on the kindness of strangers or find something to do in exchange for money. I don't see how Bitcoin is any different.
How hard is it to acquire any currency if you're new to the game?
If I land on the shore of some foreign country, with only the clothes on my back, I'll have to either rely on the kindness of strangers or find something to do in exchange for money. I don't see how Bitcoin is any different.
It used to be hard, but now Dwolla - > MtGox is as easy as could be.
1. You have to trust MtGox and be willing to send money to them. (which is not the case for a lot of people according to reaction on twitter)
2. You have to understand that you need to go through Dwolla (which isn't so famous). (Have you seen the number of people on IRC which don't even figure out how to get their BTC back from mtgox?)
3. You have to trust Dwolla or be willing to have an account
4. You've to live in the US.
That's a lot of requirements for something "easy as it could be"
Trust will be required in any exchange. The rest of your points stand.
It used to be hard, but now Dwolla - > MtGox is as easy as could be.
1. You have to trust MtGox and be willing to send money to them. (which is not the case for a lot of people according to reaction on twitter)
2. You have to understand that you need to go through Dwolla (which isn't so famous). (Have you seen the number of people on IRC which don't even figure out how to get their BTC back from mtgox?)
3. You have to trust Dwolla or be willing to have an account
4. You've to live in the US.
That's a lot of requirements for something "easy as it could be"
It used to be hard, but now Dwolla - > MtGox is as easy as could be
In which countries Dwolla works? China, India, Brasilia or may be Russia ?
Apparently it only works in the USA. Does anyone know if there are similar services from other countries?
It used to be hard, but now Dwolla - > MtGox is as easy as could be
In which countries Dwolla works? China, India, Brasilia or may be Russia ?
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