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MannDude

BitCoin in the hosting industry case study... who wants to partake?

53 posts in this topic

hwiq3Om.png

these peaks and valleys are $200 apart

That's only a problem if you hold the coins and end up having to sell when they're low -- many payment processors let you convert to USD immediately.  Luckily for me - the value of dogecoin has gone up to counter my losses in bitcoin!

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We added bitcoin to our billing system about year ago. Gossip about customer paying with bitcoin are high risk customers, is not actually true. At least in our experience.

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On 12/22/2015 at 5:06 PM, estnoc said:

We added bitcoin to our billing system about year ago. Gossip about customer paying with bitcoin are high risk customers, is not actually true. At least in our experience.

Just wait until the FTC comes knocking. There's no reason a legitimate person or company will pay with bitcoin. Adults and businesses have access to traditional payment sources.

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On 12/22/2015 at 0:06 AM, estnoc said:

We added bitcoin to our billing system about year ago. Gossip about customer paying with bitcoin are high risk customers, is not actually true. At least in our experience.

Well the customers who pay with Bitcoin aren't necessarily high-risk, I wouldn't classify them as that. I would though classify them as people who also want to hide income from governments for example amongst other things.

It is far too easier to pay with credit card, paypal rather than Bitcoin so in my opinion the majority of people using bitcoin to pay on a day-to-day basis have something to hide - not necessarily their identity. 

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The majority of clients who pay with bitcoin don't cause any issues. On the other hand, the very few clients who do pay with bitcoin and violate our TOS/AUP are 100x more painful to deal with but that's probably because it's not refundable and they assumed because we accept bitcoin we're OK with spam, DOSing, and fake signup info.

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On ‎25‎.‎12‎.‎2015 at 3:52 AM, KuJoe said:

The majority of clients who pay with bitcoin don't cause any issues. On the other hand, the very few clients who do pay with bitcoin and violate our TOS/AUP are 100x more painful to deal with but that's probably because it's not refundable and they assumed because we accept bitcoin we're OK with spam, DOSing, and fake signup info.

 

In our experience, they dont cause issues indeed. On the other hand, if you think about paypal and creditcard payments and the outcomes if there is any chargeback involved, then you pray to god that someone invented this bitcoin thing in the first place :) Everywhere i go in forums such as this, can find topics about pp and cc fraud. with bitcoin there is no issue with this thing. In my experience, so far i never noticed that clients who pay with bitcoin, are doing spam or what so ever.

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We have offered it for about a month now and not a single person has used it. Nor had we ever before had anyone ask about it. I figured why not offer it. We will see in time.

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9 hours ago, CenTex Hosting said:

We have offered it for about a month now and not a single person has used it. Nor had we ever before had anyone ask about it. I figured why not offer it. We will see in time.

Bitcoin is still very niche / limited audience.

I read the other day about a Florida city that Bitpay spent a bundle sponsoring a bowl game (football) and enabling retailers to accept Bitcoin.  In a year or less, the town has all but removed Bitcoin efforts and the retailers that bought in struggled to find transactions done in Bitcoin.

I wish Bitcoin was more used / more viable.

 

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I don't know a ton about BitCoins but if it was easy to turn BTC to USD/GBP into my bank so I can pay for my bills with it then I'd accept BTC, no problems. Not sure it is that easy though. Would have to look into this when I get some spare time.

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If you're looking for more providers I would be interested in joining the study. We've accepted bitcoins for about a year and haven't had any issues.

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Used it for 3 years and customers do use it. Not had any issues with people who use it.

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We use/accept bitcoin aswell, never had issues with it so far.

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BTC is actually very intriguing to use sometimes it actually works for the sellers good depending if your btc sales are high or now.

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Bitcoins are so much better. I do believe there is a huge bitcoin users market who are looking where to spend their BTC. And why not to spend them on GPU servers? I heard some people still make some good money from mining.

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In the past 2 months we have actually seen a lower percentage using bitcoin. I don't think it's going to last much longer personally. 

 

- Daniel :)

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6 hours ago, tmzVPS-Daniel said:

In the past 2 months we have actually seen a lower percentage using bitcoin. I don't think it's going to last much longer personally. 

 

- Daniel :)

Bitcoin noise has been quiet this year... I think they donated all their coins to Bernie ;)  kidding, but wouldn't surprise me.

Everything in general has been quiet this year...

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I recently used Bitcoin to pay for hosting as a client for the first time and it kind of validated the fact that I have this cyber money I probably can't do much else useful with. It was painless and provided I still have enough in a month I'll likely do the same. Its fairly unlikely I'll do anything too illegal with the service ;)

Tried to buy a coffee with them IRL the other morning and failed dismally - the girl didn't know how to use the machine, that's 'the other guys' domain.

I guess as host provided it's not your main income source, you pull out early and you actually have enough money in the bank to float the business you'd be fine. How have you (who do accept btc/doge/altcoins) found the volatile exchange rates to legacy dollars/conversion rates and fees when it comes time to sell for $?

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I accept BitCoins and several other cryptocurrencies. I will soon support 65+ cryptocurrencies with my services. :)

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1 hour ago, Hosted said:

 I will soon support 65+ cryptocurrencies with my services. :)

You might want to consider the law of diminishing returns because at some point adding xx amount of options will start to lead to negative returns when you factor in the time/labor cost needed to support and maintain xx payment accounts.

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we have been taking bitcoin for about 5 months now and we have only had 2 orders with it. Credit card takes the 

number one spot and then paypal.

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