Post
Topic
Board Economics
Re: chargeback and ATM cash advance
by
Thanak
on 29/06/2011, 16:40:20 UTC
I was not thinking of drawing cash and sending it.

I was thinking more along the line of using the card over the internet to make a cash withdraw at the site selling the coin.... if that's possible.

The process would look something like this.

- Go to a site, enter your Visa/MC number
- The site makes a cash advance on your card
- With the cash in hand (and no refund possible), they transfer bitcoin to your adresse

As a customer you would have to pay interest because it's charged as a cash advance but it's much more user friendly than having to register an account at an exchange.

I'm not sure if it's possible to do a cash advance remotly, but if it is then I think that for the average joe, it would be much more convenient than MTGox or Tradehill.