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patio11 is right, you're about to have a major problem with gift cards going bad, which were bought with stolen credit cards. Happy to give more advice, you can reach me via my HN profile. Source: In a similar business for 16 months. (We sell gift cards for $ or BTC, but don't buy gift cards with bitcoin)


I'm confused, isn't he selling cards for BTC. How does credit card fraud enter into this?

EDIT: OH HE'S BUYING THE CARDS THIS IS A REALLY BAD IDEA


How do you handle compliance for your business (the bitcoin->giftcard one). From this discussion it seems like a total minefield. Do you ask your customers for their ID Proof/Address Proof ? (KYC/AML style) I know fraud isn't an issue for you at all because the bitcoin payments would be irreversible.

I took a look through your site and there are some really great deals (7% cheaper! wow!), great work btw!


Thanks! In a nutshell, the higher the dollar amount, the more care we put into transactions and relationships.




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