Pages:
Author

Topic: People can now buy Bitcoin using credit cards (Read 4500 times)

hero member
Activity: 568
Merit: 500
Smoke weed everyday!
December 07, 2014, 11:21:40 PM
#44
I've tried to use Purse twice, and both orders were cancelled by Amazon because the buyer used a fraudulent credit card.  Purse was good in both instances, though, recognizing the order cancellation immediately, and getting my back my bitcoins from escrow within a day or two.
This is probably an important feature. I don't think the orders were necessarily canceled because of a stolen credit card, as it is possible that the buyer was trying to scam you/purse out of bitcoin by placing the order then canceling it at the last minute to trick it into releasing the bitcoin to him without you receiving the order
I would say that the real risk with using purse is that you will later be potentially investigated for credit card fraud in teh event that the other person uses a stolen credit card to pay for your amazon goods
sr. member
Activity: 350
Merit: 250
I don't get how any company can accept credit cards for bitcoin purchases because bitcoin transactions are irreversable and credit cards can be reversed. Can someone explain how this actually is a workable thing?

The same way they accept credit card for any other thing.

Once the thing is delivered it can't be taken back to the store, but the transaction can still be reversed, like Bitcoin transactions
With physical deliveries, it is much easier to prove that an actual product was delivered to a specific address, so it is easier to fight a chargeback dispute.

Additionally when delivering a physical good it is easy to know where the product went in the event that the merchant would decide to go after the buyer, verses a basically anonymous buyer with bitcoin
legendary
Activity: 1120
Merit: 1000
I don't get how any company can accept credit cards for bitcoin purchases because bitcoin transactions are irreversable and credit cards can be reversed. Can someone explain how this actually is a workable thing?

The same way they accept credit card for any other thing.

Once the thing is delivered it can't be taken back to the store, but the transaction can still be reversed, like Bitcoin transactions
hero member
Activity: 647
Merit: 501
GainerCoin.com 🔥 Masternode coin 🔥
I've tried to use Purse twice, and both orders were cancelled by Amazon because the buyer used a fraudulent credit card.  Purse was good in both instances, though, recognizing the order cancellation immediately, and getting my back my bitcoins from escrow within a day or two.
This is probably an important feature. I don't think the orders were necessarily canceled because of a stolen credit card, as it is possible that the buyer was trying to scam you/purse out of bitcoin by placing the order then canceling it at the last minute to trick it into releasing the bitcoin to him without you receiving the order
full member
Activity: 131
Merit: 100
Hope they have good insurance.
Insurance will not help them, especially if they expect to realize an economy of scale. What they need is good risk management and the ability to thoroughly document the buyer's intent to buy bitcoin and their consent to the transaction 

They already implemented this. Theres a lot of documentation that goes into buying with a cc over there
legendary
Activity: 1036
Merit: 1000
Thug for life!
Hope they have good insurance.
Insurance will not help them, especially if they expect to realize an economy of scale. What they need is good risk management and the ability to thoroughly document the buyer's intent to buy bitcoin and their consent to the transaction 
legendary
Activity: 1540
Merit: 1029
Hope they have good insurance.
hero member
Activity: 821
Merit: 1000
clevercoin.com

Have you used them at all?
Are purcahses for BTC via CC instant like Circle?
Any limits on purchasing?
legendary
Activity: 2114
Merit: 1090
=== NODE IS OK! ==
Circle allows only US customers to buy with CC. we need something like that for europe too  Cry

clevercoin.com
sr. member
Activity: 381
Merit: 250
I wanna use this service soon. It sounds good to buy new iPhone 6, 64 GB with %20 discount. If I count it true, it makes something around $200 cheaper than normal price. Nice, thank you for sharing!  Lips sealed
newbie
Activity: 2
Merit: 0
I've tried to use Purse twice, and both orders were cancelled by Amazon because the buyer used a fraudulent credit card.  Purse was good in both instances, though, recognizing the order cancellation immediately, and getting my back my bitcoins from escrow within a day or two.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
I've used purse.io to make purchases several times.

There were a few times when I made the purchase only to wait a few weeks to find out that the item was not sent. This most likely is due to my APO shipping address so they probably don't have anything automated to kill the purchase once an error is returned to the user.

But I sent a few things through that I knew for sure shipped to APO and it worked.
member
Activity: 117
Merit: 10
Long live Bitcoin.
cex.io are accepting credit cards.

Here's their announcement: https://bitcointalksearch.org/topic/m.9679886
Apparently, all cards work, except those issued in the US, Vietnam, and Iceland.

How is the transaction treated?

I think it's a purchase. Not sure though.
sr. member
Activity: 434
Merit: 250
★Bitvest.io★ Play Plinko or Invest!
Sucks that US can't use cex with credit - Although their cloud mining is garbage all their other services have been great as far and exchanging funds and deposit and withdrawals
full member
Activity: 182
Merit: 100
I am not sure if this will allow people all over the globe to buy bitcoins with their credit cards.
Some sites do offer this service, but are limited to the country they are based in.
hero member
Activity: 568
Merit: 500
Smoke weed everyday!
cex.io are accepting credit cards.

Here's their announcement: https://bitcointalksearch.org/topic/m.9679886
I am sure they will encounter a lot of fraud when people try to use this feature.
Apparently, all cards work, except those issued in the US, Vietnam, and Iceland.
I would think that the US and iceland would make up a good portion of their customer base.

It appears that ghash/cex is trying to move away from being solely a pool and more into being an exchange.
sr. member
Activity: 448
Merit: 250
This is a warning from experience PLEASE DO NOT DO THIS you will go bankrupt....  I tried this and did not listen to people and I am now indebt 10k+


YOU WILL BE CARDED YOU WILL GET DEFRUADED NO MATTER WHAT YOU THINK.
full member
Activity: 131
Merit: 100
cex.io are accepting credit cards.

Here's their announcement: https://bitcointalksearch.org/topic/m.9679886
Apparently, all cards work, except those issued in the US, Vietnam, and Iceland.

How is the transaction treated?
sr. member
Activity: 378
Merit: 250
Completely ruins the point...
member
Activity: 117
Merit: 10
Long live Bitcoin.
cex.io are accepting credit cards.

Here's their announcement: https://bitcointalksearch.org/topic/m.9679886
Apparently, all cards work, except those issued in the US, Vietnam, and Iceland.
Pages:
Jump to: