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RE: Buy SteemPower - STEEM - or SteemDollars directly from your credit/debit-card in 30 seconds!

in #steempower8 years ago

there is people selling BTC for ie PP - which is the same as CC with chargebacks. the prices are just super premium.

im sure some people would risk premiums for it. also 1st time clients would have big limits etc.

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there is almost nowhere you can buy btc with PP. theres a couple people on LBC that will do it if they know you, provided youre willing to jump through hoops, and there used to be that virwox thing but i heard it doesnt work anymore.

Also, PP is much better with chargeback risk than a credit card. IF someone gets ahold of your PP account, and they try to send money to an account they have never sent to before, PP will almost always block the transaction.

OTOH, a credit card will almost always go through, especially with a modest transaction size. Sometimes, the gateway's fraud prevention systems will stop it(if there is too big a geo mismatch between the IP address and the billing address, for example, ) but for the many professional fraud rings out there that know what theyre doing that is more the exception than the rule.

yes i know that im just speaking of some ways we can go over this ;)

there is few spots allowing buying BTC with CC tho http://fuk.io/where-to-day-trade-bitcoin-on-the-bull-run-leverage-futures-spot-trading/

Of the four listed, only two (coinmama and coinbase) actually allow instant transactions with a credit card. I have actually never heard of anyone though who didn't already have a well established account actually getting the CC deposit to work.

TBH, i think the best solution there is LBC. If steem is going to have real, non-bitcoin-mediated purchase options, i think the necessary first step is a LBC-like system where you can meet up with someone irl or drive out to a bank and make a deposit.

In some ways, this is less convienient than a credit card. But it also has the advantage of keeping the transactions more private.

WHen i was devoting a significant amount of time to steem, i was considering retrofitting my LBC account so that i could buy and sell steem on it, but i decided there are too many moving parts to make lbc work withanything but bitcoin. that said, it does not seem like it would be too difficult to get something similar going.

The irl traders there make a killing, but for steem to work with that kind of business model, it needs to get to some kind of price stablility first.

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