Pardon my ignorance, but what are the chances that Neteller takes everyone's money and runs?

WalkofLife · Feb 4, 2004

Dante, I'm not pissed. But I wouldn't like for a statement like that by a respected poster like WildBill to stand. That's bull shit and every intelligent poster knows it.

BTW, this is way over some "hottie" and geographical location. Or just because WildBill is in Vegas and he's willing to BET on it does it make any speculative statement by him an axiom?

WildBill · Feb 4, 2004

Neither can you. I find this almost funny how these days in the forums you can't post an opinion about what you think will happen in the future, backed with some evidence that others involved in the industry have done just that, and get absolutely JUMPED for it. WTF? I mean come on, everyone here has an opinion and many have agendas, surely some small speculation on my part can't be the worst thing going on here. And guess what, I hope I am 100% wrong on this! I wrote as much in a past article about Neteller and the need for competition.

WalkofLife · Feb 4, 2004

The fact that you're right about the need of competition, doesn't make you right about THAT statement up there.

How I are you getting jumped upon? My intention is to have a rational discussion, if possible.

WildBill · Feb 4, 2004

Ok, enough. Sorry guess I hit a little too close to home for you. I was merely speculating and would be willing to bet they would take some sort of measure to protect their market share. Every company does it in the ways it can and in an unregulated marketplace I can't possibly think that they would just gladly allow competitors to come in and take market share from their very profitable business. Is that a statement more to your liking sir???

WalkofLife · Feb 4, 2004

Don't patronize me. I wanted you to tell this forum how your speculation about what NETeller would do if there was a new competitor, it's not an axiom; just becasue you're willing to bet on it, doesn't make it a truth. It still is a speculative shot.

<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>Ok, enough. Sorry guess I hit a little too close to home for you<HR></BLOCKQUOTE>

Don't worry... not close at all. I just like to call them as I see them. I also have a very active imagination, would you like me to tell you why I think you're trying to knok off NETeller like that?

You're entitled to your opinion. The fact that you're WildBill in the RX and that you have the liberty to say something like that is what's killing me.

waw · Feb 4, 2004

OK gentlemen, just to get back on topic for a sec!

Neteller IS expensive but IS the only viable option at the moment. It IS the least likely to go t**s up.

Of course, there is a very good reason why books and casinos love Neteller - and its not the customer service.

Phaedrus · Feb 4, 2004

I think it is very unlikely that Neteller would pull a cut and run; they have a great gig making shitloads of money. Because of the direct EFT capability from a player's bank account to a Neteller account they are almost as easy to link players' money to a book as a credit card, and let's be honest -- at the end of the day, the whole point of running a book is to transfer as much players' money as possible from their bank account to your own. Therefore, Neteller enjoys the support of the bookmakers. Other similar systems exist, such as PayPal, Firepay and PPATM, but for assorted reasons they are not as widely-used by books.

Posted by WalkOfLife:
<BLOCKQUOTE class="ip-ubbcode-quote">quote:<HR>
E-Gold? I can only think of one big inconvenience here: Market Makers. Otherwise, this seems to be a good option, they still need to earn the international trust though.

Who else? So for you, the cheapest is still expensive? I can understand that but I don't share your opinion.
<HR></BLOCKQUOTE>

Actually, since e-gold currently dwarfs Neteller in terms of total deposits onhand, and since e-gold users do not tend to hold the view that it can't be trusted and isn't smart to leave money sitting in an account, and since according to e-gold themselves international use is substantially higher than domestic, I'd say that the international trust is there. The market makers may well be going the way of the dinosaur, as p2p exchanges have already been developed (such as Open2Exchange) and are increasing in popularity, enabling people funding and defunding digital gold currency accoutns to name their own discount/premium.

I'd say two dark horses in this industry that don't get nearly enough attention, and that do stand as viable competition to Neteller, are MoneyBookers and WebMoney, especially the latter, which can be funded via wire, requires no identifying information, and has much lower fees than Neteller (0.8% vs. 1.9%)

Phaedrus