Send Money to Friends in Messenger • Hacker News Board

Re: Send Money to Friends in Messenger

#161

Post by ForHackernews » Tue, Mar 17, 2015, 8:59 PM UTC

grubles wrote: post #152

ForHackernews wrote: post #139

Earlier quoted context omitted.

The point is that 95% of adults have already done #1 and #2 and half of #3, and they have experience giving their credit card info to other websites. Maybe if you were starting tabula rasa with eleven year old children who'd never had a bank account or used a website before, maybe then bitcoin would be easier (provided they didn't get hacked and have their coins stolen[0]). [0] https://twitter.com/Coinapult/status/57…

Incompetence is payment-system-agnostic: http://www.bloomberg.com/bw/articles/2014-03-13/target-misse...

Liability isn't.

Re: Send Money to Friends in Messenger

#162

Post by kungfooguru » Tue, Mar 17, 2015, 8:59 PM UTC

astazangasta wrote: post #117

zacharypinter wrote: post #6

At this point, I just want one of these pay-with-your-phone solutions to win and be ubiquitous. The current situation is almost comical. "Do you have Venmo? Haven't set that up yet, can you send over Paypal?. No, what about Square Wallet? Nope, what about Gmail?"

It's bizzare that our financial sector is the largest area of the economy and yet has not managed to produce any innovation in this regard. Shouldn't banks be giving us easy ways to transfer money? Isn't this their function? Financial services?

Why? That isn't their function. They aren't making money off your checking account.

Re: Send Money to Friends in Messenger

#163

Post by benbristow » Tue, Mar 17, 2015, 9:01 PM UTC

> This feature will be rolling out over the coming months in the US.

Fucking typical.

Re: Send Money to Friends in Messenger

#164

Post by grubles » Tue, Mar 17, 2015, 9:01 PM UTC

vectorpush wrote: post #158

grubles wrote: post #155

Earlier quoted context omitted.

The hard part about using a credit card is trusting the merchant to be perfectly secure.

The difference is that stolen bitcoin equates to a permanent loss of funds while a stolen credit card number equates to a customer service phone call.

>13.1 million identity-theft cases were reported in 2013, resulting $18 billion in losses.

from https://www.javelinstrategy.com/uploads/web_brochure/1405.R_...

Re: Send Money to Friends in Messenger

#165

Post by gonehome » Tue, Mar 17, 2015, 9:03 PM UTC

6stringmerc wrote: post #26

"Hey RELATIVE it's me here on Facebook I had to get a new account because I'm in trouble here in FOREIGN COUNTRY so please send me money. It's really easy and I need it bad! Just enter your credit card and I will be saved!" I know, I know, it's not the tool...but I am reminded of a certain scene from The Fifth Element... "I hate warriors, too narrow-minded. I'll tell you what I do like though: a killer, a dyed-in-the…

Well in this case it looks like you need to be friends, so any spam requests from non-friends would likely go into the never seen abyss that is the 'other' folder.

That being said, if you haven't ever checked your 'other' folder you probably should. Last time I saw this mentioned people had missed wedding invitations, potential dates and more from people they weren't facebook friends with trying to reach them.

You get to it by clicking the message icon in the blue bar at the top and then clicking the small text 'other' in the top left of that pop up.

Re: Send Money to Friends in Messenger

#166

Post by Mahn » Tue, Mar 17, 2015, 9:03 PM UTC

grubles wrote: post #99

puranjay wrote: post #89

Earlier quoted context omitted.

Almost no one outside of my techie friends know about Bitcoin. Even fewer understand how it works, so that's a no go.

My 70 year old dad can use bitcoin. I'm sure your friends can learn.

Your 70 year old dad is an exception in a sea of people that don't want to learn.

Re: Send Money to Friends in Messenger

#167

Post by vanzard » Tue, Mar 17, 2015, 9:04 PM UTC

vectorpush wrote: post #154

smackfu wrote: post #103

Earlier quoted context omitted.

You just need a bitcoin balance and the recipient needs a bitcoin address. Which practically seems like way more friction than the three items you listed.

Not to mention the fact that the recipient needs a bank account anyway if they want to convert their bitcoin into something that they can actually spend outside of the dark web. Worse, the recipient also needs a bitcoin exchange account to even make the conversion possible, then they have to wait two days for the exchange to ACH the money into their bank. This all assumes the exchange will even do business with them…

> needs a bank account anyway if they want to convert their bitcoin into something that they can actually spend outside of the dark web

That's not true. Americans (Facebook's intended audience for this Messenger money-sending feature) can spend bitcoins directly at Microsoft, Dell, Expedia, Overstock, Newegg, Tiger Direct, DISH Network, etc. They can use and spend bitcoins theoretically received from FB friends without having a credit card, without even having a bank account.

100,000 (legitimate!) merchants worldwide accept Bitcoin - http://www.ibtimes.co.uk/bitcoin-now-accepted-by-100000-merc... It is time to kill the myth of "only the dark web accepts Bitcoin".

Re: Send Money to Friends in Messenger

#168

Post by tagx » Tue, Mar 17, 2015, 9:05 PM UTC

linux_devil wrote: post #153

"Need a ultra-secured phoned with 2 level authentication on messages " What happens if I lose my phone , someone adds himself and send money , oh crap ! But Facebook knows where we are sending money , will it be helpful enough to nab a thief ?

You can add a PIN that you need to enter every time you try to send money

Re: Send Money to Friends in Messenger

#169

Post by grubles » Tue, Mar 17, 2015, 9:05 PM UTC

ForHackernews wrote: post #161

grubles wrote: post #152

Earlier quoted context omitted.

Incompetence is payment-system-agnostic: http://www.bloomberg.com/bw/articles/2014-03-13/target-misse...

Liability isn't.

Where is this magical land where a company can't be held liable for losses because they accept bitcoin?

Re: Send Money to Friends in Messenger

#170

Post by gonehome » Tue, Mar 17, 2015, 9:06 PM UTC

macNchz wrote: post #50

zacharypinter wrote: post #6

At this point, I just want one of these pay-with-your-phone solutions to win and be ubiquitous. The current situation is almost comical. "Do you have Venmo? Haven't set that up yet, can you send over Paypal?. No, what about Square Wallet? Nope, what about Gmail?"

At least for my demographic in NYC it feels like Venmo has enough traction that there isn't much friction if you ask to be paid/pay with Venmo. Enough people have it that the odd one out who doesn't feels compelled to sign up, and the onboarding is also fast enough that people can sign up while waiting for the check at a restaurant, for example.

I used Venmo for a while and it works well. Square Cash I've found is even better since it skips the unnecessary social part, doesn't hold funds (directly transfers to bank) and somehow people can sign up without having to do the mini deposit account verify dance with their bank.

I'm not sure how this is possible since doesn't that mean that anyone can just input a debit card and start withdrawing money? It is nice though because people can sign up instantly instead of it taking a couple days.