Quote from: oblox on April 10, 2015, 04:04:35 PM

Quote from: bigrcanada on April 10, 2015, 03:58:06 PM

Quote from: oblox on April 10, 2015, 03:47:17 PM

Quote from: ddink7 on April 10, 2015, 03:42:48 PM

Slightly off-topic, but in case anyone is wondering why crypto is foundering, consider that it is almost impossible to convert fiat to/from crypto.

Coinbase no longer will do business with me, apparently because I live in Louisiana. It was okay to do business with me a year ago, but somebody decided they would just cut off my entire state (actually, half the country). Damn inconvenient, especially since I had already gone through an FBI-level verification process with them.

I signed up with Circle. Their verification process was much easier. Cool--selling BTC and depositing to my bank is easy. Buying BTC (to convert to DASH, of course!) is impossible. The limit for an instant transaction is a measly $100 (Coinbase, when they let you buy BTC back in the day, had a $1,000 limit). I can of course buy more than $100 worth, but it will take a week to clear.

Oh wait, I can't buy anything with Circle. Because I changed my online banking password, and Circle requested that I update the username/password on their website. No problem--except that I get an obscure and meaningless error message saying that the .fiatACCOUNT failed. Whatever the hell that means.

The crypto industry better start getting its shit together, or it WILL die, regardless of how innovative it is. Your average person is not going to go through all this hassle just to buy BTC.

Just food for thought.

P.S. Just today I went to convert my mom's MSAFE to DASH. That required me logging into blockchain.info, accessing the private key, logging into omni wallet and importing that private key, sending bitcoin to the MSAFE address to cover the transaction fee, then transferring the MSAFE to Poloniex. Sell the MSAFE on Poloniex, transfer the resulting BTC to Cryptsy, convert the BTC on Cryptsy to DASH, withdraw the DASH to my wallet.

The entire process took about three hours. Until somebody finds a way to make crypto EASY, it's not going anywhere.

Coinbase was $1k/wk for instant buys. Have you tried localbitcoins? Depositing cash into a bank account and getting coins within minutes generally.

Although useful...these are not viable solutions for everyday joe. It needs to be as simple as funding with your credit card/debit card/paypal to buy and exit back to paypal/bank account through a simple portal or ATM. Many may say that the whole point is to get away from conventional banking...and sure after several years yes. Till then they need to work in tandem.

I agree but the main problem that is slowing things up are regulations and uncertainties in that area. Services like this continue to improve the cash aspect of getting into crypto: http://www.coindesk.com/bitquick-us-cash-bitcoin-market/

My thoughts are if they can do offshore casinos and gambling sites....why current there be a off shore entity to act as a portal in and out of crypto. I understand there will be concerns with terror and money laundering. But the next big thing in this ecosystem is a gateway to deal with very complicated system of putting money in...waiting for it to clear, go to an exchange, deposit your BTC...then trade BTC for Darkcoin....withdraw Darkcoin to your wallet, login to my winery site, but goods. Way to many steps and complicated for first time users. KISS principle is very much in order Wink