Silk Road forums
Market => Product offers => Topic started by: bendahara on February 03, 2012, 10:55 pm
-
Would anyone be interested in this service?
I'm looking to start an exchange service for MtGox vouchers to Western Union/MoneyGram and the reverse.
I would launch a site, with a large scale adwords campaign. My budget for this entire operation is around 100k USD.
The fees would be nothing like wm-center. Wm-center sends and receives WU from Europe, WU from and to Europe has the most extortionate fees compared to any other region in the world.
Right now, other than WM-Center, there isn't any other bitcoin exchangers to and from WU. WM-Center spreads for bitcoins is as high as 10%, sometimes even 20%.
Fees to locations that I would receive WU and MG is very low, most of the time its less than 5%(US-2.5%), while WU from certain European countries could be as high as 10% at worst.
And to make things more interesting, all the WU payments that I will send for deals within Silk Road doesn't require any ID for pickups. I will do 5-10 free test Western Union payments to reputable members to prove this point.
I am already registered directly with Western Union as a trader(I trade other e-currencies privately in some forums), and I contacted them a few days ago to get the go-ahead for bitcoin transfers. The answer I received was positive.
Bitcoin is anonymous, but 95% of the transactions to cashout bitcoins is not anonymous right now. I'm looking to change that.
Escrow will be accepted, but buyers would need to pay the escrow fees. Turnaround time is 5 minutes to 3 hours.