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

Discussion in 'Announcements & Contests' started by MannDude, Aug 10, 2014.

  1. SGC-Hosting

    SGC-Hosting New Member Verified Provider

    Aug 8, 2014
    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!
  2. estnoc

    estnoc New Member Verified Provider

    Dec 15, 2015
    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.
  3. Kephael

    Kephael New Member

    May 23, 2014
    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.
    zafouhar likes this.
  4. zafouhar

    zafouhar Member

    Jun 30, 2013
    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. 
  5. KuJoe

    KuJoe Well-Known Member Verified Provider

    May 17, 2013
    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.
    fm7 likes this.
  6. estnoc

    estnoc New Member Verified Provider

    Dec 15, 2015

    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.
  7. CenTex Hosting

    CenTex Hosting Member Verified Provider

    Dec 22, 2015
    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.
    fm7 and drmike like this.
  8. drmike

    drmike 100% Tier-1 Gogent

    May 13, 2013
    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.
    fm7 likes this.
  9. Hosting Specialists

    Hosting Specialists New Member

    Dec 28, 2015
    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.
  10. MightWeb-Greg

    MightWeb-Greg Member Verified Provider

    Apr 27, 2015
    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.
    Licensecart likes this.
  11. Licensecart

    Licensecart Active Member

    May 22, 2013
    Used it for 3 years and customers do use it. Not had any issues with people who use it.
    AlbaHost likes this.
  12. AlbaHost

    AlbaHost New Member Verified Provider

    Jul 8, 2015
    We use/accept bitcoin aswell, never had issues with it so far.
    Licensecart likes this.
  13. VyprNetworks

    VyprNetworks New Member

    Mar 2, 2016
    BTC is actually very intriguing to use sometimes it actually works for the sellers good depending if your btc sales are high or now.
  14. Paulius777

    Paulius777 New Member

    Feb 9, 2016
    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.
  15. tmzVPS-Daniel

    tmzVPS-Daniel Active Member Verified Provider

    Jan 12, 2014
    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 :)
  16. drmike

    drmike 100% Tier-1 Gogent

    May 13, 2013
    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...
  17. Jive

    Jive New Member

    Sep 18, 2013
    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 $?
  18. Hosted

    Hosted New Member

    Mar 23, 2016
    I accept BitCoins and several other cryptocurrencies. I will soon support 65+ cryptocurrencies with my services. :)
  19. DomainBop

    DomainBop Dormant VPSB Pathogen

    Oct 11, 2013
    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.
  20. CenTex Hosting

    CenTex Hosting Member Verified Provider

    Dec 22, 2015
    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.