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I'm working on a decentralized app to remedy these type of moves by big payment processors. The new flow I suggest is: BTC -> Coinbase -> PayPal. Withdrawals

by craze3 7y ago

I'm working on a decentralized app to remedy these type of moves by big payment processors. The new flow I suggest is: BTC -> Coinbase -> PayPal. Withdrawals are instant & only subject to standard fees. The can funds can also be instantly converted to cash, via the PayPal Business Debit Card. References: [1] https://blog.coinbase.com/instant-paypal-withdrawals-now-available-for-all-u-s-customers-58b2958a13aa https://blog.coinbase.com/instant-paypal-withdrawals-now-ava... [2] https://support.coinbase.com/customer/portal/articles/2959952-paypal-faq https://support.coinbase.com/customer/portal/articles/295995... [3] https://support.coinbase.com/customer/en/portal/articles/2109597-coinbase-pricing-fees-disclosures https://support.coinbase.com/customer/en/portal/articles/210... [4] https://www.paypal.com/us/webapps/mpp/business-debit-card https://www.paypal.com/us/webapps/mpp/business-debit-card

ur-whale 7y ago
> The new flow I suggest is: BTC -> Coinbase -> PayPal The flow still can be censored. As a matter of fact, you now have two opportunities for your payment to get nixed.
- waymore84 7y ago
  The point is to spend out of btc via means of PayPal though. The shift card died because Switzer land couldn't hold it up.
  - arcticbull 7y ago
    The issue is and always will be the fiat gateways. If you do sufficient volume, someone's going to snoop around and ask questions like, oh, I don't know "where did you get this money and what did you say your business does again?" BTC is not a solution to this problem either. Maybe for the buyer since they're low volume enough not to raise eyebrows one way or the other, but as the vendor it just won't help.
makomk 7y ago
If I remember rightly. Coinbase bans porn-related payments just like PayPal.
mirekrusin 7y ago
Why not just exchange btc/eth and leave the headache away? Pornhub should move to btc - at least they'll educate some population about cryptocurrency/how to use it. There are many ways to move money in/out, I think one of no fee paths is via bybit (just network fees).

by craze3 7y ago

ur-whale 7y ago

> The new flow I suggest is: BTC -> Coinbase -> PayPal The flow still can be censored. As a matter of fact, you now have two opportunities for your payment to get nixed.

waymore84 7y ago
The point is to spend out of btc via means of PayPal though. The shift card died because Switzer land couldn't hold it up.
- arcticbull 7y ago
  The issue is and always will be the fiat gateways. If you do sufficient volume, someone's going to snoop around and ask questions like, oh, I don't know "where did you get this money and what did you say your business does again?" BTC is not a solution to this problem either. Maybe for the buyer since they're low volume enough not to raise eyebrows one way or the other, but as the vendor it just won't help.

makomk 7y ago

If I remember rightly. Coinbase bans porn-related payments just like PayPal.

mirekrusin 7y ago

Why not just exchange btc/eth and leave the headache away? Pornhub should move to btc - at least they'll educate some population about cryptocurrency/how to use it. There are many ways to move money in/out, I think one of no fee paths is via bybit (just network fees).