61–70 of 75 posts
http://www.reddit.com/r/Bitcoin/comments/14c7q0/coinbase_lau...
Earlier quoted context omitted.
It's actually somewhat riskier than cash through the mail (which is shockingly reliable), and you have no recourse, unlike the US postal service which is more than happy to insure cash mailings (up to $25k through Registered Mail) and investigate and prosecute fraud.
That was the first danger. How much is the insurance? We were talking about 1% at CoinBase, I think that MtGox was 0.65%, and that's only for buying and selling. Withdrawals are free. Bitcoin-to-bitcoin transfers are (still) free. If it's $20,000 cash in the mail, it weighs about 200g (100 $100's) and to mail it about an hour from here (1 hour 30 minutes by car) Rochester to Buffalo, registered mail with $25,000 insu…
Have you taken note of this possible vulnerability? You guys need to be more careful about security. You may only get one shot at this, if you get bad PR this early by getting hacked. http://www.reddit.com/r/Bitcoin/comments/14c7q0/coinbase_lau...
The Stripe button poses a similar problem, even if credit card number and cvc are arguably not as bad as actual login data.
But it is much easier to create a frictionless user experience if you do not have to redirect people to somewhere outside your side.
I recently implemented paymill payments and also there the only assurance for the customers is the 3D-Secure iFrame, if their credit card is 3D secure enabled ...
Suggestion 1: Offer to convert user funds to bitcoins (works as an annoying service). So you act as a money proxy. Suggestion 2: Explain what bitcoins are for shopping cart users
Have you taken note of this possible vulnerability? You guys need to be more careful about security. You may only get one shot at this, if you get bad PR this early by getting hacked. http://www.reddit.com/r/Bitcoin/comments/14c7q0/coinbase_lau...
This is another case of convenience vs. security. The Stripe button poses a similar problem, even if credit card number and cvc are arguably not as bad as actual login data. But it is much easier to create a frictionless user experience if you do not have to redirect people to somewhere outside your side. I recently implemented paymill payments and also there the only assurance for the customers is the 3D-Secure iFra…
Under this model, how do you train ordinary users to avoid phishing?
Earlier quoted context omitted.
This is another case of convenience vs. security. The Stripe button poses a similar problem, even if credit card number and cvc are arguably not as bad as actual login data. But it is much easier to create a frictionless user experience if you do not have to redirect people to somewhere outside your side. I recently implemented paymill payments and also there the only assurance for the customers is the 3D-Secure iFra…
> But it is much easier to create a frictionless user experience if you do not have to redirect people to somewhere outside your side. Under this model, how do you train ordinary users to avoid phishing?
Of course the situation is unsatisfactory. But I like the 3D-Secure approach.
Unfortunately the implementation is card provider specific and quality varies.
I had a VISA once where I could enter a custom phrase that was displayed to me on every "verified by VISA" dialog.
Combined with displaying the dialogue in an iframe this practice seems strike the best balance between usability and security.
Of course as coinbase would have to implement something like this by themselves, but I that seems feasible.
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Merchants should refund an equivalent value of BTC, not the same amount paid.
Why? Serious question, if I get a refund the amount isn't compensated for changes in the Australian dollar. Either the buyer or seller will lose out if the value of bit-coins change, so is there a compelling reason for picking which party that is other than "merchants have the control to give whatever refund amount they want"
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That would fall into the category of exchange going under. Similar risk to cash in the mail, except with cash in the mail there's nothing you can do to protect yourself (or prove that delivery was accepted.)
> That would fall into the category of exchange going under. Bitcoin exchanges are not like Paypal, it's a terrifically bad idea to keep your coins in a wallet controlled by a third party for any length of time.
Have you taken note of this possible vulnerability? You guys need to be more careful about security. You may only get one shot at this, if you get bad PR this early by getting hacked. http://www.reddit.com/r/Bitcoin/comments/14c7q0/coinbase_lau...
But I can't help but ask, this isn't THE MtGox providing this info, is it? :P
Earlier quoted context omitted.
That was the first danger. How much is the insurance? We were talking about 1% at CoinBase, I think that MtGox was 0.65%, and that's only for buying and selling. Withdrawals are free. Bitcoin-to-bitcoin transfers are (still) free. If it's $20,000 cash in the mail, it weighs about 200g (100 $100's) and to mail it about an hour from here (1 hour 30 minutes by car) Rochester to Buffalo, registered mail with $25,000 insu…
You owe tax on income regardless of the form. If your employer gives you stock, you owe tax based on the stock's value the day you get it. Capital gains (or losses) mostly only applies when you sell the stock, and only to the difference in value. Same deal for bitcoins. Hell, if you're caller #9 and you just won the two week cruise, you're getting a fat tax bill and cruises aren't cash either.
And then, only if you actually cashed out, right? If you leave them as bitcoins and the value drops below what you paid, now you've got a loss and maybe deduction instead...
It would make sense that you should pay taxes on mining income (if they can find you).