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Topic: mtgox fast pay - looking for investors - page 2. (Read 7552 times)

legendary
Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
June 12, 2011, 11:30:31 PM
#5
Why can't exchanges like mtgox or tradehill take ACH Deposit directly?

Some can (and do), but of course that's even slower due to the delays in bank processing (average of 3-5 working days for UK banks).

so whats the fastest known way?
I think wiring domestic is the best.
full member
Activity: 168
Merit: 100
June 12, 2011, 11:26:40 PM
#4
i wired money in twice when i initially bought into mtgox straight from my bank and without expedited charges it still takes up to 3 days for your bank to process shit
hero member
Activity: 721
Merit: 503
June 12, 2011, 11:26:19 PM
#3
Why can't exchanges like mtgox or tradehill take ACH Deposit directly?

Some can (and do), but of course that's even slower due to the delays in bank processing (average of 3-5 working days for UK banks).
legendary
Activity: 1078
Merit: 1000
Charlie 'Van Bitcoin' Shrem
June 12, 2011, 11:21:59 PM
#2
Why can't exchanges like mtgox or tradehill take ACH Deposit directly?
hero member
Activity: 721
Merit: 503
June 12, 2011, 11:04:20 PM
#1
Hi everyone
As you know, mtgox is famously slow to pay into and cash out from. I've been pondering fixing this issue by setting up a new site which will make use of the mtgox API to speed up payments (users pay on my site, they get mtgox USD instantly minus a small 1.5% fee).
To do this requires holding a large reserve, so i'm looking for potential investors.
The site itself will be hosted on google app engine for now and external payments will be through liberty reserve and moneybookers. I'm also thinking about integrating direct payments on other exchanges such as sending BTC instantly from mtgox to bitcoin-central, btcex, tradehill or bitcoinmarket without delays.
Basically there's lots of ways to speed up trading but doing so requires investment.

The 1.5% I quoted above is the 1% mtgox fee + a 0.5% premium, I will take 0.1% myself leaving 0.4% to be split between any investors proportional to what they invest. To get started I will need at least $1000USD.

Would anyone here be interested?
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