amuck-landowner

Do you accept Bitcoins as a payment method? Why? Why not? (Plus other questions)

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Lanarchy

New Member
Bitcoin is a great payment option. If you don't want to deal with bitcoins themselves, use bitpay.com as others hav ementioned. They accept bitcoin, and give you cash so you don't have to deal with it.

Refunds are handled a few ways, if you accept bitcoin manually

1 - No refunds

2 - Store Credit in the USD value of the original purchase

3 - Current USD exchange rate of bitcoin

Even Tiger Direct started accepting bitcoin today, via bitpay. And Overstock.

If you don't at least look in to it, you'll be losing business and be left behind.

If you're scared, just use BitPay. It's honestly very easy.
 
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KuJoe

KuJoe

Well-Known Member
Verified Provider
Lanarchy said:
Refunds are handled a few ways, if you accept bitcoin manually

1 - No refunds
Click to expand...
I am about to institute a no refund policy for Bitcoin payments. BitPay does make it a bit difficult to refund a payment and trying to get the clients to assist is like pulling teeth (you would think if a client wants a refund they would respond to e-mails/tickets promptly and follow instructions properly).
 
MannDude

MannDude

Just a dude
vpsBoard Founder
Moderator
So, who here would be interested in participating in a case study / answer some questions about accepting BitCoins for web hosting services? Could be a good reference to those who are on the fence about it.
 
KuJoe

KuJoe

Well-Known Member
Verified Provider
MannDude said:
So, who here would be interested in participating in a case study / answer some questions about accepting BitCoins for web hosting services? Could be a good reference to those who are on the fence about it.
Click to expand...
Count me in.
 
W

web-project

Member
Verified Provider
perennate said:
Really all the abusers, especially spammers, use Paypal. With Bitcoin they can't chargeback. Never had a problem with anyone who paid in Bitcoin.
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If the client paid using Bitcoin it's impossible to chargeback, this is great reason why the Bitcoin should be alternative method of payment, as no such protection from other payment methods.

We do us the Bitcoin.
 
splitice

splitice

Just a little bit crazy...
Verified Provider
I am happy with our integration of Bitcoin's we havent noticed any abuse spike (our main concern) and have been able to receive the money as AUD direct into our buisness account for tax purposes.

I also take a portion of the funds as BTC to be spent at those companies that are also accepting BTC at this time (a few of our suppliers). We keep 1-2 BTC in a wallet for this purpose. The low fees make it really attractive to spend as apposed to PayPal or VISA.

I still worry a little about the conversion rate (although AUD<->USD varies anyway), I don't spend any for USD backed services unless the exchange rate is above certain dollar values and until the value becomes more stable I will refrain from keeping more than I am willing to loose in my account. All that said, given the saving of hundreds of dollars of fees already I have no complaints. The concerns and risks in regards to value are part of the parcel of emerging / new currencies. You should be sure to asses all risks before accepting them at your business (although if you do you might find that you become that little bit more attractive to people with BTC to spend).

BitPay allows you to take 100% in the form of a bank deposit if you dont wish to do any speculation or dont want to put faith in the currency. Or you can always do a split (20:80 is our current ratio) for a manageable risk.
 
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TekStorm - James

TekStorm - James

New Member
Verified Provider
While we do offer Bitcoin (via BitPay) as a payment method, it's not enabled for all products/services.  However, even with those that it's available, it's not used very often.  The most used payment method for us is direct CC.
 
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Kakashi

Kakashi

Active Member
Verified Provider
Out of interest how much of a demand is there for paying with bitcoin ? Never had anyone ask us if we accepted.

Would anyone care to give out an rough relative percentage value of how it compares to other payment methods ?
 
splitice

splitice

Just a little bit crazy...
Verified Provider
We see a payment almost every day with Bitcoin (and sometimes up to three). 5-10% compared to PayPal. They are quite often larger payments too.
 
BeastVM_Aaron

BeastVM_Aaron

New Member
We don't cause you need to follow bitcoin economy and i've tons of jobs to do per day. I don't want to spend my time on changing Bitcoin to $$
 
CraigA

CraigA

New Member
Verified Provider
When TSM launches (next week?) we are contemplating offering a Bitcoin payment method. The main issue right now is fluctuation and now that MTGox has suspended payouts, I'm not sure if it will still be on the table.
 
SPINIKR-RO

SPINIKR-RO

New Member
Verified Provider
CraigA said:
When TSM launches (next week?) we are contemplating offering a Bitcoin payment method. The main issue right now is fluctuation and now that MTGox has suspended payouts, I'm not sure if it will still be on the table.
Click to expand...
This has no effect on the ability to accept BTC.
 
L

Lanarchy

New Member
So much misinformation in here.

MtGox has absolutely nothing to do with accepting bitcoin as a payment. It may affect the price stability, but it will not impact the fact that you can get paid in bitcoins.

Also, you don't have to monitor the price, like BeastVM_Aaron said. BitPay or CoinBase will monitor the prices for you, and do all the work. You set the price of your product, and BitPay converts that to BTC when the user wants to buy. You will still get your $x amount, no matter what the current price is.
 
Francisco

Francisco

Company Lube
Verified Provider
We went ahead and added bitpay to our supported payment methods a few weeks ago.

I don't expect mountains of signups because of it but I like the perks of it all.

Francisco
 
Richard Leik

Richard Leik

New Member
Verified Provider
Too dangerous really. No datacenters are accepting BTC yet, and the fluctuation means you could end up with a negative balance sheet for the month despite having positive cash flow.
 
J

joepie91

New Member
Are people actually, like, reading the posts in this thread before responding? The past two pages have been nothing but a cycle of "but it's too volatile" -> "yes that's what BitPay and Coinbase already solve"...

Perhaps an edit of the original post is in order?
 
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