Post
Topic
Board Currency exchange
Re: |WTB| Bitcoins for MoneyPaks
by
auweia
on 02/09/2013, 23:49:39 UTC
the problem with moneypacks is it can take two weeks before you know if it's legit, even if the card loads perfect at first because whoever bought the card can make a claim a week later

It doesn't seem much different than paypal or any other charge back scheme

In this case it took a little over a week. i think 9 days. Also, I was on skype for 24 hours and Ms Bitcoin signed on a  few minutes ago, didn't answer my question, and then signed off

And also, I lost 270 dollars, but I already cashed 200 of it so I lost a little more than half. Most of the trades for bitcoin I do is for cash, either in person or by mail. It turns out that cash is the safest way, from my experience

At least if you get ripped off in a person to person trade for cash, you'll know right away, but I've never been ripped off in a cash trade. Cash in mail is also faster than moneypack because that only takes 3 days and all you have to check for is counterfeit and escrow works fine

But moneypack can take 2 weeks and then you get a big surprise when your card is frozen. I suppose the only way you could make moneypacks safer is to have an escrow for it, but you'd have to hold an escrow for 2 weeks or longer to be sure nobody's going to come back and file claims on that moneypack

Lucky for me I don't do that many moneypack trades anymore. It would not surprise me if this becomes a big issue. It used to be that companies did moneypacks but those are gone now, and Koukan exchange isn't doing much these days either and that was about the last I saw that did NOT have problems with moneypacks. But now the government is tightening the noose, everything left over seems to be scammers

so it's ironic that the safest way is now cash, paper money. I've had less problems with paper money trades for bitcoin than any other method, and THAT seems to be getting more common. I see more listing for it now, and of course Wired magazine basically said that in a recent article