Do you support bitcoins for payments?
- Thread starter netnub
- Start date
nunim
VPS Junkie
Assuming the btc protocol doesn't have another gaping exploit, if the first world countries kill all their exchanges it will lose a lot of its inflated value... Cause what good is digits you can't readily turn into actual money...
Next week on fox news: bit coin is for terrorists...
Next week on fox news: bit coin is for terrorists...
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Chronic
Member
Do elaborate, please.
nunim
VPS Junkie
https://en.bitcoin.it/wiki/Incidents#CVE-2010-5139
http://www.vice.com/read/this-is-how-bitcoin-could-die <-- Another recommend read
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Interesting read. I know a big exploit in it right now which could crash BTC to $1/1btc, but I haven't showed anyone it, I don't plan on it.
No and there are many GREAT reasons not to. Not only the issues posted already in this thread. But what happens if the market just crashes? It has in the past and will therefore happen in the future also. Not to mention the issue with 51% hash rate would cause.
If I was going to accept bitcoins I should just be giving my services away for free.
If I was going to accept bitcoins I should just be giving my services away for free.
Chronic
Member
And? Not everyone plays by the rules.... Just because they hope it doesn't happen, won't stop it from happening. And when it happens the market will fall. Just like it has every other month when someone hacks an exchange. I am very familiar with bitcoins and have been following their progression since the beginning.
We accept them and love it. BitPay is fantastic, no issues yet.
Abdussamad
New Member
Huh what????
Clients can pay with bitcoins, but all bitcoins are converted to USD and then given to us. We only accept USD.
Considered it, but with all the issues recently with exchanges etc, have put a pause on it for now. Will keep watch and see how it goes.
BitPay is a little different than say LR.
There is active markets that determine the price of 1 coin. On checkout they know the price and their buffer they have set. In this scenario a exact value can be determined.
LR was pretty much a wold wild west
There is active markets that determine the price of 1 coin. On checkout they know the price and their buffer they have set. In this scenario a exact value can be determined.
LR was pretty much a wold wild west
Abdussamad
New Member
That's how everybody does it. No real world business is going to hold bitcoins when they have expenses that need to be met in fiat.
Then why did you ask if you already know that?
Abdussamad
New Member
Because I didn't understand what you meant by "we allow our customers to pay via bitcoin but we do not accept that". I think it would have been clearer if you just said that you accept bitcoin but price your products in USD.Then why did you ask if you already know that?
Abdussamad
New Member
Don't get me wrong. I am glad that more and more providers are accepting bitcoin. I have a few coins myself and I might use them to buy a VPS in future so the more choices I have the better .
I am curious though. Do you get many orders paying with bitcoin?
.I am curious though. Do you get many orders paying with bitcoin?
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I think we've had less than 10 successful orders with bitcoins. We find that the vast majority of orders that select bitcoin as the payment method get marked as fraud by Maxmind. Then again, just because they select a payment method on order doesn't mean much since we have a lot of people select Paypal and then pay with Google Wallet and vise-versa.
I've considered offering specials just for bitcoin users because the fees are so much lower than any other payment processor. I wish WHMCS had an easy way to offer discounts based on payment methods but I might just have to make special plans for it.
I've considered offering specials just for bitcoin users because the fees are so much lower than any other payment processor. I wish WHMCS had an easy way to offer discounts based on payment methods but I might just have to make special plans for it.
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