Nigerian banker

>>1458926
Sure. Wait, why should I trust a guy named "Nigerian Prince"?

And why should I visit a website of a guy I know nothing about, that nobody else visits?

What countrys have loose banking laws?

How much capital is required to start such a website that will handle millions and millions of dollars of peoples money?

What can go wrong? You can move to a country with a loose banking law, realize the government is totalitarian and that you don't speak the language, you try and get a loan to start your business but since you have no credit score there, the loaners want to control the entire business after you do the work for them. Also, if the country has loose security laws and a high crime rate, exchanges and banks that transfer lots of money are generally targets for terrorists and criminals.

>>1458926
One word: chargebacks.

You inherit an enormous amount of risk selling something that is untraceable and irreversable. Some of the larger bitcoin exchanges have mitigated that risk by requiring an enormous amount of personal identification, long verification process, small purchasing limits and huge markups. This makes the "quick easy" credit card purchase into a complicated long one, therefore negating the whole purpose. If you can find a better way to prevent chargebacks then this might be a viable business. Until then you are up shits creek, sans paddle.

>>1458989
Pretty much all your arguments also would apply to any coin exchange, yet they exist.

Lets say I have the money for the infrastructure if the website, forget about country with loose laws . I would not be doing anything illegal as far as I can tell. I will be selling a comodety. Why is that not viable enough? To buy any meme coin you have to be jump through so many hoops that simplifing that process would make the life of many people easier and would not be technically illegal. It would be a great mechanism for monet laundering though

>>1459007
Ok that makes sense. I am starting to see the faults of credit cards now.

>>1458926
Since cryptocoins are seen as a cash equivalent, buying them with a credit card will count as a cash advance and will be subject to a higher interest-rate that begins immediately.

>>1459009
How are you going to explain to the IRS or the government of X country that you started a highly successful business that handles millions of dollars of untracable currencys between thousands of different untracabe investors?

File: 1471729888093.jpg (19KB, 309x300px) Image search: [Google]

19KB, 309x300px

It may literally takes years to work this all out, but with enough r&d you can probably do it. It seems most think it is preposterous, which may be good as you will not have much competition unless some rich guy hires a whole team. If you can get it to work, you will have something big.

>>1458926
chargeback scams basically
>pay with credit card from a mcdonalds or an internet caffee
>report transaction as fraud
>chargeback sum
>guy selling the bitcoins can't get them back ever

is it possible to use bitcoin for MS?

anyone have experience with it

>>1458926
>there is currently no way to buy crypto with fiat
I'm pretty sure that Kraken lets you buy any crypto. Coinbase lets you buy ether with fiat.

If you are serious about this let me know, because I am currently working on a similar project and I think we can help each other.