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Instant Bitcoin Purchases at Coinbase

blog.coinbase.com

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Re: Instant Bitcoin Purchases at Coinbase

#81

Post by downandout »

dobbsbob wrote: post #78
downandout wrote: post #11

Someone credible is finally trying to compensate for the abysmal failure that is Bitinstant (see http://bitinstantscam.com and basically any Bitcoin forum). That is fantastic. However, let's not get carried away. This is not instant for first-time users. You still have to go through verification and wait at least 4 business days for your first purchase to go through before reaching the qualifications for instant purc…

Western Union would never allow their service to be used for instant buying of bitcoins, if they find out you're using it to trade any kind of digital currency they seize your next transactions and block anything going to your service. This is to prevent scammer MITM auction fraud, credit card fraud on their online transfer sending service, to comply with anti money laundering nonsense and to crush competitors. MG is…

That is not the case. Bitinstant has been using MG for a long time, they still use them today. The fact that Bitinstant itself has gone off the rails doesn't change the MG policy apparently allowing these transactions.

Re: Instant Bitcoin Purchases at Coinbase

#82

Post by tedkalaw »

eeky wrote: post #71

Lol, I bought bitcoin with coinbase when this HN article was first posted 3 hours ago, and the price has gone up almost 5% since then. Is bitcoin magic or something?

There's a big rally going on. It found support around 68 a week ago and it's been steadily climbing since.

Re: Instant Bitcoin Purchases at Coinbase

#83

Post by dobbsbob »

downandout wrote: post #81
dobbsbob wrote: post #78

Earlier quoted context omitted.

Western Union would never allow their service to be used for instant buying of bitcoins, if they find out you're using it to trade any kind of digital currency they seize your next transactions and block anything going to your service. This is to prevent scammer MITM auction fraud, credit card fraud on their online transfer sending service, to comply with anti money laundering nonsense and to crush competitors. MG is…

That is not the case. Bitinstant has been using MG for a long time, they still use them today. The fact that Bitinstant itself has gone off the rails doesn't change the MG policy apparently allowing these transactions.

They use ZipZap which is owned by moneygram, it's a different setup where retailers can accept cash payments and isn't available everywhere like Wu or regular MG

Re: Instant Bitcoin Purchases at Coinbase

#84

Post by Nursie »

eeky wrote: post #58
Nursie wrote: post #54

Earlier quoted context omitted.

The purpose of bitcoin is hoarding and speculation.

Correct, bitcoin lets YOU hoard and speculate - which is a healthy mechanism in a free market. In our current fiat debt based system, it's mostly corrupt inside traders who get that privilege.

>> Correct, bitcoin lets YOU hoard and speculate - which is a healthy mechanism in a free market.

Not exactly healthy for something that's supposed to be either a currency or a payment method though.

Re: Instant Bitcoin Purchases at Coinbase

#85

Post by downandout »

dobbsbob wrote: post #83
downandout wrote: post #81

Earlier quoted context omitted.

That is not the case. Bitinstant has been using MG for a long time, they still use them today. The fact that Bitinstant itself has gone off the rails doesn't change the MG policy apparently allowing these transactions.

They use ZipZap which is owned by moneygram, it's a different setup where retailers can accept cash payments and isn't available everywhere like Wu or regular MG

Yes, ZipZap runs through MG's bill pay service, which is far cheaper than sending a regular MG and is offered at virtually every MG site.

Re: Instant Bitcoin Purchases at Coinbase

#86

Post by downandout »

dsl wrote: post #73
ferdo wrote: post #70

Earlier quoted context omitted.

> I use Coinbase because they don't support payment systems that cater to criminals. Banks are little more than fronts for criminal activity. http://www.counterpunch.org/2013/01/04/big-banks-and-drug-mo...

Comparatively maybe less than .01% of all banking transactions involve illicit funds. I had lunch with a DEA agent who claimed that 5-10% of all dollars transmitted by Western Union were the result of drug trafficking.

It's not shocking that a DEA agent thinks that 5%-10% of WU transactions are drug-related. DEA personnel are constantly looking for reasons to validate their own pointless existence. When you're a hammer, everything looks like a nail. I would be incredibly shocked, however, if that number were even remotely accurate.

Re: Instant Bitcoin Purchases at Coinbase

#88

Post by cdvonstinkpot »

Instant my ass. It took 2 weeks for the ACH transaction waiting period, then they said they couldn't do it anyway because they were being my conscience for me & decided I was being to risky. Said to try again in 2 weeks. Not to mention the initial account setup time I've waited.

Needless to say I'm looking for a new btc vendor.

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