Bitcoin and Paypal

This One Image Shows Why There's A Massive Opportunity

This week we wrote about how there's a huge fortune to be made if you can solve the problem of cheap payments. We listed payments as one of 10 big problems that are crying out for a solution (others include cheap battery storage, water desalination, and a pill that makes you lose weight).

The post describes all the things we do in the financial system which really should be ancient history. Included in the post was this image, which has been floating around for awhile, but which is funny and true. It shows when banks are open vs. when you have time to go to the bank.

Maybe it's a slight exaggeration, and maybe you don't have to go to the bank that much anymore. But tons of people still go to banks every day, and find it to be a pain in the ass to schedule those trips.

Also tons of people are still using checks for things. And as Ripple notes in their post, there are still a ridiculous amount of paper receipts floating around too.

Source: www.businessinsider.com June 3, 2014 – 13:21

True story, and why i crave bitcoin's adoption

2014-02-14 20:44:52 by Global_1_Percenter

I just found out Citi charges a 3% foreign txn fee. What a fucking ripoff! Add that to the story below. Bring on Bitcoin!!!!!
Previous Post:
I live in the US, and bought something from a trusted vendor in the UK, using my credit card
they fucking declined the charge and shut off my card, causing other charges to get rejected....Grrrrrrrrrrrrrrr!!!!
i called their automated system to authorize the charge, and it said it was all set
the vendor called me to say the charge still wasnt there
then i spend an hour on the phone with Citi

My bitcoin valuation methodology

2014-02-16 11:29:09 by Global_1_Percenter

Add up all the transaction fees that:
- paypal
- western union
- banks
- credit card companies
- stock markets
- currency markets
- futures markets
- sports bookies
- casinos
- credit card forex fees
- foreign exchange fees
...charge each year as middlemen and/or to electronically transfer money
divide tha...n) to arrive at a value per bitcoin (since bitcoin allows you to do all these things for close to free)
and that's your starting point
so in a $70T global economy, let's start conservatively with 1% being the amount charged for all those fees, which is $700B annually
(side note: in case you think my $700B # is high, sports betting alone is a $500B worldwide business annually

Victim of paypal chargeback scam

2012-02-26 16:36:54 by unkie

I was a victim of paypal chargeback while selling bitcoins on ebay. most buyers i sold it to were honest. there were 2 users, fiedlerhm3224 and auscooter12 who together scammed me out of a total of $2000.00. there's still an investigation/claim pending with paypal, and i have opened claims with ebay as well, but i have a bad feeling that i'm going to lose this one because there's no physical evidence of me sending the coins to them so i don't have a very strong case, even though i have all the transaction references and emails proving that these individuals were cooperating with me. additionally, they left positive feedbacks for me saluting me for being a good seller, before finally sticking the knife in

Bitcoin: Currency or commodity?  — Futures Magazine
Cameron and Tyler Winklevoss (the Winklevoss twins of Facebook fame) have filed to register the Winklevoss Bitcoin Trust, which will be an exchange-traded fund (ETF) to invest and trade in bitcoin.

Related Posts

Bitcoin API PHP

Bitcoin to USD PayPal

Bitcoin Black Friday

Bitcoin buy games

Bitcoin API net