:1orglaugh:1orglaugh:1orglaugh:1orglaugh

Was Paxum hacked by any non-bitcoin user(s) then?

Everyone here is too smart for their own good.

Because accepting BitCoins was a good thing to begin with.

word :thumbsup

They never accepted bitcoins. They are banning others from doing bitcoin services accepting Paxum for payment.

Ah! Thanks for the clarification.

Paxum was actively recruiting customers and being represented on the bitcoin forums and exchanges. I guess they changed their minds.

One of the emails stated the change is caused by new banking regulations, whatever those are.

I don't think this is anything to do with new regs but bitcoin is currently getting a lot of negative press so maybe it was a precautionary measure.

Maybe not. The emails from Paxum indicated this apparently.
http://themonetaryfuture.blogspot.co...-business.html
https://bitcointalk.org/index.php?to...3101#msg743101
Not sure who sent the email, whether Chris or Ruth.

Actually, the thing in Ruth's avatar looks more like Brock Lesnar in a burgundy-colored wig. :1orglaugh

Emails dated the 10th. Pretty clear to me why passwords were reset.

you did anything with bitcoin other than laugh at them?


rofl

Now I'm not sure I'll ever be convinced that the decision makers at paxum aren't a bunch of drooling retards

Did anyone else catch the whole MasterCard part of her annoucement? What the heck does MasterCard have to do with the legality of bitcoin?

Seems like some arm twisting going on here..

bitpay, Bad news huh bro? :1orglaugh

You do not need a Government to tell you a Currency is Legal ,, Or did i miss something ?

We can provide a better service than MasterCard can, for 1/3 the price they charge. So I'm not worried, we can easily win in the long run.

Bitcoin is like VOIP, the efficiences of using it are great. Someone trying to protect their high-margin business model will eventually be overtaken by a more efficient competitor. Who uses long distance companies anymore? It's all VOIP. Bitcoin will do the same thing.

[EDIT] just to clarify what I mean by "better service" : We can accept a payment from anywhere on the planet, instantly, with zero risk of fraud or chargebacks, for 1/3 the price of accepting a credit card.

well, why so angry?
Paxum is a great service or am i missing something?

and zero protection from fraudulent transactions.

Correct. With bitcoins, once you receive the money from the customer, it is yours, and will not be reversed or taken away from you. The only way for the customer to get their money back is for you to send it to them.

This actually opens up new markets. Websites can now accept payment from Indonesia, India, Russia, all of Eastern Europe, all of Africa, all of South America, and every where else that Visa and MC won't let you accept a payment from because they say its too high risk. Bitcoin has zero risk, once the money is yours, its yours, no matter where on the planet it came from.

bit-pay.com

bit-pay.com/api.html

Jesus run away from bitcoins...

I think Due is a lot more qualified to discuss this subject than 98% of the people on GFY and significantly more than you. :2 cents::2 cents:

Who said Mastercard said anything about legality? It was more about risk. :2 cents:

Yes, risk to MasterCard's duopoly business model :)

Bitcoin is the lowest risk form of internet payment ever invented. They know it, they just don't like it because it's open source and kills their high fee structure.

Sorry, I doubt you are going to find anyone here with any credibility that is going to support your business model. $.01

Good going. My scarce Paxum funds feel safer now.

As much as I like Bitcoins, and I am in the process of creating a business built on Bitcoins, I don't believe they threaten Mastercard or Visa in anyway.

If everyone here is happy with the Visa/MC duopoly, and the terms they dictate, and the fees they charge, then you are correct, people probably won't want to use this. If people are looking for an open source alternative, bitcoin is an option.

with bitcoin, you can accept a payment from any country on Earth
with bitcoin, you will never get a reversal or a chargeback

I definitely think there's a need for this, but if not in this group of users that's fine.

Most servers run on Apache nowadays because its open source. Does anyone still pay for Oracles web server?

Can you buy things with bitcoin using an app for your phone?

yes. Because bitcoin is open source, anyone can make a wallet for it, even a mobile wallet.

here are some examples:

lovebitcoins.org/getStarted.html

As more developers get involved, you will see more innovative features from these open source ideas than you will see from Google Wallet.

Reversals or chargebacks are invented to make the service Safer for the customer, which is usually more important than lowering the risk for the seller. Sure there are always some groups who "need" your kind of service, probably the same people who used things like e-gold.. But for the sake of credibility, you shouldn't use phrases like "lowest risk ever" for such new currency, if targeting any legal users with a brain.

Just the words "mobile" and "wallet" - used together in the same sentence leaves a bad taste in my mouth ....

It tastes like Mallick. :Oh crap:Oh crap

Thanx ... but I think imma gonna pass.

Sweaty, hairy vinegar manfeet with puss-filled infected ingrown crusted bloody toenails topped with essence of bum's sticky asshole and a hint of rotten shrimp. :2 cents:

wow ruth wow

Looks like their bank or someone forced them to choose a side.

Pretty simple.

yup, it's no more risk for them than any other client/transaction. they do validate/verify all accounts manually (i think)