Hosting Providers & BTC

[RTGHM]

What's so wrong with BTC as a payment?

I understand it may attract some abuse, however the advantage is, there is no dispute option, so once the customer is terminated, you still keep the money.

 

[zionvps]

The actual problem is if a legal problem arises, you don't have much information about client. Bitcoin is focused on anonymity 

 

[gharo]

Probably the number of people who want to pay with BTC is too small to make it worth their while adding the process to accept and account for these payments.

 

[TruvisT]

The issue with BTC is not so much the legal side. Honestly, if you do your checks right it is no different then paypal ect... and there is not full anonymity anyway with BTC. The bigger issue is how much the price fluctuates. If you have someone come in and make a huge 1 year payment on dedicated servers and then the price drops, those BTC have loss a lot of value to you and might not even cover the expenses. So BTC imho is more of a stock of sorts for investment. It's basically like playing forex on the markets but has a much bigger swing.

 

[RTGHM]

The issue with BTC is not so much the legal side. Honestly, if you do your checks right it is no different then paypal ect... and there is not full anonymity anyway with BTC. The bigger issue is how much the price fluctuates. If you have someone come in and make a huge 1 year payment on dedicated servers and then the price drops, those BTC have loss a lot of value to you and might not even cover the expenses. So BTC imho is more of a stock of sorts for investment. It's basically like playing forex on the markets but has a much bigger swing.

Your correct in it's like PayPal, a bit different, but similar. And the price doesn't fluctuate a lot in the past month from what I can tell. It's only dropping/rising $20 on average.

 

[InertiaNetworks-John]

Probably the number of people who want to pay with BTC is too small to make it worth their while adding the process to accept and account for these payments.

I agree. When we were accepting (and marketing) it, less than 2% actually used it.

 

[splitice]

About 10% of our business (slightly more) over the previous year came through BTC (via Bitpay). As we use Bitpay (AUD conversion) fluctuations don't bother us.

Personally I think its a good gateway to have, gets more use than Payza (who we maintain as a backup gateway primarily for Visa/Master Card).

 

[Abdussamad]

The issue with BTC is not so much the legal side. Honestly, if you do your checks right it is no different then paypal ect... and there is not full anonymity anyway with BTC. The bigger issue is how much the price fluctuates. If you have someone come in and make a huge 1 year payment on dedicated servers and then the price drops, those BTC have loss a lot of value to you and might not even cover the expenses. So BTC imho is more of a stock of sorts for investment. It's basically like playing forex on the markets but has a much bigger swing.

Merchants are not affected by the exchange rate because bitpay, coinbase, btcchina etc. all offer to process payments for you and eat the exchange rate risk. You get paid in your choice of fiat currency.

What's so wrong with BTC as a payment?

I understand it may attract some abuse, however the advantage is, there is no dispute option, so once the customer is terminated, you still keep the money.

Not enough consumers use it is the most accurate answer.

Bitcoin adoption among merchants has been huge. For instance the number of hosts that take bitcoin has eclipsed the number of providers that take skrill or payza both of which have been around much longer.