Hi everyone. I’d like to see a good discussion on different methods for transferring into and out of cash. It has been touched on elsewhere, but I’d like to create a definitive thread for it. This discussion should include, but shouldn’t be limited to the following…
1.) Methods mentioned previously on the forum, along with their pros and cons. 2.) New ideas including ones that are “outside of the box” 3.) As a customer, which method do you prefer? What is more important to you? Anonymity, security, convenience or other?
NewLibertyStandard is using direct transactions with Paypal. I think Sirius-m is working on several different direct transactions that the customer may select from. I am using a deposit and withdraw system using Paypal (for the time being).
Let’s dicuss everything from satoshi’s sophisticated “e-bay-like” idea, to madhatter2’s “money in the mail” idea, and everything in between.
Quote from: satoshi on March 03, 2010, 04:28:56 AMWhen there’s enough scale, maybe there can be an exchange site that doesn’t do transfers, just matches up buyers and sellers to exchange with each other directly, similar to how e-bay works.
To make it safer, the exchange site could act as an escrow for the bitcoin side of the payment. The seller puts the bitcoin payment in escrow, and the buyer sends the conventional payment directly to the seller. The exchange service doesn’t handle any real world money.
This would be a step better than e-bay. E-bay manages to work fine even though shipped goods can’t be recovered if payment falls through.
Quote from: madhatter2 on February 24, 2010, 04:59:55 AMNice!
I might do ‘well hidden cash in the mail’ here for small amounts.
One last thing. Legality can be listed as a pro/con but let’s not get wrapped up in it here. NewLibertyStandard already has a good thread started on that topic.