Silk Road forums
Market => Product offers => Topic started by: Shot2H3ll on March 22, 2012, 05:43 am
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What I am proposing is that anyone could transfer funds to my Dwolla account after which I would purchase BTC and send them to the indicated SR wallet. I would do it for the cost of 1 BTC for every 30 BTC purchased. That is only a 3% charge. The transaction would take a couple of hours from time the funds were received in my Dwolla account. Of course the exact opposite transaction could be accomplished for the same fee. Every 30 coins transferred to dollars would cost 1 BTC and no other costs from me.
I am not looking to make bank off of the service. My interest lies in helping those who hate buying BTC and supporting my own purchasing from SR.
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I think you would do better selling bitcoins with a 3% charge for Dwolla funds.
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It has possibilities
How does someone transfer money to your dowolla account? Can they use cash deposit at a local bank? Is Id required to make such a deposit?
Would you establish a vendor account (I assume yes).
I think there is a need for this type of thing. It does seem like it has been more difficult to get bitcoin.
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Your gonna have to do a precentage charge. Let's say that for some reason bitcoins go way up again and they're worth 20 dollars per BTC. You're not going to get very many 30 BTC buyers in that instance and you won't make any money.
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L1llykins: I think I understand. You mean for ever (?) dollars exchanged into bitcoin I would charge a percentage on the dollars. Sounds like a good idea. It could be just a flat rate charge for every dollar. What would be a cheap percentage? I really only want to make getting bitcoin easier but since I won't do it for free, I wanna help support my spending on SR. I would even commit to spending every dime earned on the site. It wouldn't be much anyway.
Klaaat21: Dwolla is a service that charges $.25 for a transaction unless it is under $10, and then it is free. The tranfer from Dwolla customer to Dwolla customer would be instant and I think it is free no matter the amount. I'd have to check on that part. I know that if there was a charge for Dwolla to Dwolla acct, it would be the same $.25. Notice that is twenty five cents and not 25% or twenty five dollars. It is literally a quarter to deposit money into your account and to spend that money online is only a quarter per transaction or free is less than $10. There main focus in the beginning was to do away with credit cards and their fees.
There a ways to put money in your Dwolla account but the best way is just to link to a bank account/debit card. Since what I am proposing would be a service to Bitcoin, there is no reason to worry about your identity being compromised by linking Dwolla acct your acct to a your bank acct. In fact I was thinking that the transaction would be more anonymous for the buyer, the coin would just show up in your SR wallet and you never purchased it or collected it. I use Tor for sending coin to myself from a broker and then Tor again to get it back to SR, so that helps with the anonymity as well.
Oh and yes, I would become a vendor even though it would take me years to actually break even on the cost of becoming a vendor. I would still do it.
Flicky42: yep, you are right. I didn't even think of that little snafoo. I think the suggestion previous was pointing out the same issue. I just didn't get it the first time. Charging a percentage for the dollars would make more sense. What would be a real cheap but fair percentage in your opinion.
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I'm interested in getting BTC off you, but not with Dwolla. I don't want anything linked to any bank account of mine & BTCs. I need like $1000's worth of BTC. I don't need $1000's going through my bank account from cash & being sent to random places.
If you charged a 3% fee for MPs or some other method that would be nice.
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DAMN - you get your order and take a couple days to test the procucts and your thread ends up near the last page of the threads! I haven't done a lot of forum time. I'll not let that happen again.
$1000s of dollars worth is not what I was initially considering but I will now. I can see where having Dwolla as a part of the process might bring attention at those levels of trading.
I am open to processing that much. BTC isn't a "scheduled" commodity.
Let me see if I get your suggestion correctly, you'd like to buy MP and then have me process the MP into BTC? Is that correct? I know there are vendors that do such things already. The cheaper rate of service would be the only selling point. I suppose speed of service could become a factor, but I see that those vendors have great feedback. Am I tracking so far?
Shot2H3ll