Does anyone still accept bitcoin?

I would say not to, digital currency changes up and down daily, and most people that purchase wouldn't know exactly just how to obtain bitcoins. Not to mention it's not a safe payment method just yet.

There have been three or four recent threads (like in the past 10 days or so) about Bitcoin. Use the search function and you'll find lots of user experiences.

Steve

Thanks Steve... I have been trolling around I will take a look.

I surely would accept bitcoins on my sites. You can always convert btc to another e-currency.

Bitcoin prices have been very steady for a long while now. I played around with it while the market was still extremely volatile, but now it goes up in down small increments every day. It seems you might run into some issues with the government cracking down on it in the near future though, yet at the same time it seems more businesses are accepting it than ever before. Seems to at least be a calculated risk to accept bitcoins.

It is impossible to shutdown bitcoin. It isn't only in US...

bitcoin is very interesting, but I was still hesitant. whether it will last a long time. if bitcoin has many fans and is not unstoppable, whether the government may be able to block it? or whether only limit to the rule of law

That's a strange perspective. A year ago Bitcoin was trading at about $20. Today it's at about $320.

Warning, today's news: Australian Bitcoin bank hacked: $1m+ stolen
Australian Bitcoin bank hacked: $1m+ stolen

Beware of posts like this, These are similar to the pump and dump method of selling stocks

al

I think you should not accept Bitcoin, because you can never tell what will happen tomorrow with these cryptocurrencies.

These cryptocurrencies have a long way to go before you can take them seriously.

hehe.. what do you think now?

Bitcoins is exploding in popularity, over a million people already use them everyday. It would be advisable to accept them now. When you accept Bitcoins you're targeting more potential customers

NameCheap is still accepting BitCoin I believe. It just doesn't seem to be as talked about as it used to be - but I guess that depends on what circles you associate with.

Lol, bitcoin is growing liek crazy lately.

In terms of offering it as a payment form I say go for it, you have absolutely nothing to lose.

Bitcoins has seen it's value surge this year because of interest from investors and retailers. That trend is most likely to continue. By accepting Bitcoin payments, you would also be able to target a larger audience. You could always convert your bitcoins to other currencies through various exchanges.

There's a lot of people that obviously don't know jack about bitcoin and are doing nothing more than parroting some BS they heard on the media or online.

Saying the majority of it is used as laundering is laughable and agenda based.

Bitcoin cannot be compared to anything else because there has never been anything else like it. Research it in depth before being afraid of it or spreading rumors about it.

There are bitcoin ATMs being rolled out... just sayin. It's not going anywhere anytime soon. Bubbles and corrections will continue and so will manipulation and fraud just like every other industry.

Bitcoin originated out of frustration and a corrupt banking industry. It's designed to be unregulated for a reason.

accept bitcoin only if either of these apply to you:

1. You have a place to spend bitcoins within a few days or a week of getting paid with them

2. You have an efficient low risk way to convert the bitcoins into your local currency and get the payment into your bank or hands

I rather accept Monopoly money. I never bought into the bitcoin hype, I want money backed by a bank and Government, I can't pay my bills or mortgage with bitcoins...

Lol, the last thing I would want is China mining bitcoins

yeah, they are still too risky

I was thinking the same thing

So they don't trust the banking system, but expect people to put their trust into digital dust and some clown who is selling bitcoins from his basement in some lawless country

The banking system is flawed for sure, but that doesn't mean you throw your money into a fake currency. Once people stop buying bitcoins, alot of bank accounts are going to be wiped clean. It will be like I.M with the top 1% having made the most money.

I remember when someone pointed out bitcoins to me a while back, and I thought "what a scam"

I admit I don't know everything about bit coins, but I still see it as a way for people to scam. There is nothing to back it, and if it disappeared tomorrow, who are people going to complain to about getting your money back?

I think alot of people will be out of money by investing in it. With China having an interest in it, only tells me that there will be more hacking of bitcoins on a massive scale. It opens up a whole new world for criminals.

Bitcoin is and will be the choice of currency for drug dealers and other criminals looking to use or receive money anonymously. When the "shit hits the fan" or hacking occurs people will be left scratching their heads, and no way to get their money back.

I've read stories of people mining millions worth of bit coins from their garage. What happens (if it's not happening already) if drug dealers or big companies decide to invest in powerful computers to mine massive amounts of bit coins. We don't even know who created bit coins or for what reason. It could be some Colombian drug lord for all we know

I think the people who will make money from Bitcoins, are those who bought early for pennies, mines the most and can cash out before it disappears

What is the dollar actually worth today and what is it backed by? Hot air, lies, magic unicorns, missing gold, banker hot air, a corrupt fed... wooo hooo. lol

It's just a matter of time until the dollar ride crashes. Historical fact. Do you think just because it's in the land of the free it magically wont happen? You're delusional if you put ANY trust at all into the dollar or the machine behind it.

And for laundering and fraud... I'd say cash is the biggest tool used there. These media shills always seem to miss that. If bitcoin is so small and insignificant, why are there so many spotlights and trash journalism going on around with it?

I'd love to see bitcoin attacked more publicly by governments though... because it would only grow in popularity.

It is back by laws and the most powerful military in the world. When I go to the market so I can feed my kids, or fill up my car with gas, it is accepted 100% of the time

When Americans spend 40 hours a week working, it's because they can buy everything they need with that same dollar. What is bitcoin backed by? absolutely nothing

The dollar may not be as strong as it used to be, but 100% of us in IM are after that same dollar. I never heard anybody say " I just want to make some extra Bitcoins so I can quit my job"

I rather have the Fed's regulating my money, than some drug lord mining them on some cocaine farm or some nerd mining them from his mom basement

You do realize there is nothing backing the USD, right?


Garrie

This is great idea to support bitcoin. But it is not globally accepted currency, and don't forget it is illegal in some countries specially in Asian Countries. So I think you can't put bitcoin as a payment option on your site.

I would have absolutely no problems accepting bitcoin, especially if it's for a digital product/service that takes you little time. Benefits would cover the risk, by far.

So yeah, after responding to your assumptions and arguments, it seems you don't have a reply for me?

I guess that means I win this round, right

Ok, so where is it going? Are you giving up?

You've not responded to any of my rebuttals, instead you decide to Ad hominem me. That's not very sporting of you.

I enjoy discussing this, so don't feel that you need to give up.

That's why Bitcoin is gaining popularity, because there is no central private organization that regulates it. And for many people, this is a good thing!

WillR is correct in comparing Bitcoin to gold, it has similarities. You are making the mistake of comparing bitcoin to the gold INDUSTRY which is indeed not a good comparison. But comparing bitcoin straight with gold as mnoey is a good comparison.

Oh dear, another implication I play video games all day long, just because of my username... I am hurt. So deeply hurt.

I dont know much about bitcoins and have never used or mined them but i love the idea but i dont think it will sustain itself!

Would be great to give the finger to the banks but were a long way off that but time will tell!

Thanks WillR for that post

People will use anything as currency - as a way to transfer value from one party to another.

And a currency does not need wide acceptance to be a valid means of value transfer. You just need 2 parties who both accept the currency as valid, and BAM! It's a valid currency. (for them only of course)

Bitcoin (and the concept of digital currencies) are in the early stages of adoption, much like the Internet itself went through a period of early adoption. There were a lot of nay-sayers and doubters who thought the Internet would die on the vine... and here we are arguing over a new technology on an Internet forum that has been here for over 15 years... and still going strong.

One day anyone in the world will be able to send digital cash to someone on the other side of the world with the flick of a button. The cash will move instantly and go directly from Sender to Receiver with NO middle man, or central bank in the way... the payment will go through, and just seconds after the transaction the receiving party will be able to use their cash to buy food, clothing, pay rent... etc. Like emailing money! Only safer, and easier.

Well WillR your 'Tooth brush example" kind of made my point. People buy a tooth brush because it cleans there teeth. .. but gold has a use as well, in industry, in jewelry etc. Gold will always be in demand (like toothbrushes) since it has such a multitude of uses (besides just hoping to sell it later)

People buy gold because of the fact that since it has such a multitude of uses in its is generally a good hedge against inflation. It has inherent value it its use. Bit Coin has none. (like the dollar) only its even worse than the dollar because it has no wide spread acceptance. So really its the worst investment ever. No inhairent value (like gold) and no wide spread acceptance of value (like the dollar). Now this MAY change. But it didnt happen several times before so Im not going to count on that.

Either way the only reason that Gold is accepted as a universal currency IS because there is always a use for it. Jewelry, Electronics, Manufacturing, Automotive, and on and on. So even if everyone suddenly said "Hey gold inst money anymore" it still would be 'redeemable' to any of the hundreds of industry's that need it. That readability to a wide audience IS what makes it a wide spread currency. Bit Coin does not 'go along the same lines as that' since it has no wide spread use. Even if it got accepted as a currency wide spread it would still be a currency (like the dollar, the euro, and the pound) that has no intrinsic value so it at best would be susceptible to wide range inflation.

Comparing Gold , which has value in itself (in its uses) to Bit Coin (which has no internal value) is crazy.

But yes I can see we disagree and thats ok

That is the hope, that Bitcoins will hold it's value like gold, but not possible. Gold has stood the test of time, and if a world war were to break out (which is very possible, the world is one big powder keg at the moment) people will look to rebuild with gold and other precious medals.

You won't see anybody walking around with a laptop and a virtual wallet full of Bitcoins trying to barter Bitcoins for drinking water. Gold has and always will be the universal currency . Alot of people buy gold to invest, but not all do. Most people buy gold to have something of real value incase the dollar tanks.

The big gold companies sell over priced gold and says it's an investment, but people buy it for piece of mind. People know that gold will go up and down, but will NEVER lose it's value completely. To say people buy gold in hopes it will increase in value, is inaccurate. People do invest in gold, and in Bitcoins, just as they did with Enron, but I'm pretty sure most people buy gold for security reasons.

If the shit hits the fan, the dollar will just be a piece of paper, and the Bitcoin will be nothing more than digital dust. Gold will always be the standard currency for the world. Comparing Bitcoins to gold is like comparing steak to chicken knuckles, and that is being very generous, since chicken knuckles has real value unlike Bitcoins.

Ask yourself this, if all the paper currency were to tank tomorrow, and you were offered a choice between Bitcoins or gold, which one would you take?

If you're still trying to figure out what bitcoin is, howstuffworks.com did a really good podcast on it.

It's such a small market, it can be manipulated pretty easily by govt, central banks, hedge funds etc... Will continue to have huge volatility. Some entrepreneur needs roll out a VIX index to hedge volatility for bitcoin holders.

It's also like a bearer bond, who's to say someone won't hack your computer and take your stash?

As I understand there are a few exchanges that sync their ledgers, but who the heck is doing that? and why couldn't they be corrupted?

Digital anything, WILL BE HACKED and COMPROMISED.

One thing Paypal has, is transparency. One time I bought a water cooler online and picked it up at my local Target store. The transaction wasn't ready so I paid again at the store and canceled my online order when I got home. Paypal held my transaction for a for a week or so, and told me that it had to be investigated by the feds to make sure I wasn't laundering money or something to that effect.

With Bitcoin, we don't even know who invented it, let alone where it's coming or going. How many Bitcoins did this anonymous inventor mine before he opened for business? who invented Bitcoins and for what purpose? was it Obama? or Bin Laden? or was it Waldo? is that where's he's been hiding this whole time

Of course they do, but they leave a paper trail, with Bitcoins they can do this anonymously.

If they can't be converted to real currency then they are worthless

It does not give them credibility, it's just a private company placing an ATM to make a profit

I agree, it couldn't hurt if you are accepting them for a digital product, because once your product is finished, there is no more cost to the creator. Good luck trying to buy gold with them though

People keep saying I don't know anything about Bitcoins, but nobody has filled me in as to what I don't know about them. Did the French name Bitcoins the official currency of France? Did Bitcoins replace the Euro? I mean what am I missing here :/

I understand it's an investment, but dog scat would be an investment if people started buying it. Even Enron was a great investment at one point. I don't understand how a system where people with the best computer resources to mine these things, is better than the system we already have in place.

100% of the same people who are trying to trash the dollar to try and make the Bitcoin legit, are the same people trying to gather as much of that same dollar so they can live a comfortable life, and not worry about bills.

Every single person that posted here for or against Bitcoins are chasing that mighty dollar. If that dollar is so worthless, then why not trade your life savings for Bitcoins instead

With the dollar, anybody can obtain them simply by working and can trade it for food and water to feed their families, trade for shelter and everything else needed to live a decent life. To obtain a Bitcoin I have to pay a few hundred dollars to someone who knows how to mine them from a computer in his garage? Then I have to travel to some ATM in Canada to trade them in for cash so I can buy some food? That is the most ridiculous crap I ever heard

Transparency is what gave them credibility Garrie, and Paypal is not an electronic currency, they are payment processor. They charge a fee to transfer currency from account to account, just like any major credit card processor.

More and more people use drugs, but that doesn't give the narcotics industry anymore credibility

I have to run, have to get up early, nice chatting with you about the subject Garrie. I undertand what you mean, It's nothing personal against you or anybody but I don't buy into the Bitcoin being a legit currency. I think it will fade out just like all the digital currencies before it.

It's always good to add new ways for people to pay. For bit-coins, use a service such as bit-pay. They take the bit-coin payment and you have the option of having them sell the bit-coins right away, so you don't need to worry about their value going down. Then they deposit the money in your bank account.

No need for a wallet or watching bit-coin prices. However, you won't be able to refund buyers who use bit-coins, unless they will accept paypal or another method.

Besides the world's first Bitcoin ATM machine, Vancouver is also soon going to have a brick and mortar store selling Bitcoins. And there are a couple of dozen retailers that now accept bitcoins for purchases.

Funny that this has been on the news media this week in Vancouver, coincidentally.

Nobody seems to mention that governments and banks also know current currencies need a revamp. Cryptos are a possible way forward. It certainly is worth exploring. No wonder the British Royal Mint wanted to mint a gold Bitcoin!

More than likely older and newer currencies will co-exist for a while.

Maybe! According to Quantcast statistics Bitcoin users are

* 88% male
* 48% have annual income above $50k
* 35% have annual income over $100k
* 26% have annual income over $150k

Bitcoin users are also, on average, more technical. But the demographic continues to grow and new services are making Bitcoin even more user friendly. You can stand out to these users and support Bitcoin growth by adding merchant tools to your website. Merchant tools are generally easy to setup and have low transaction fees.

Marketing and promotion is another reason you might start accepting Bitcoin. There is a community of Bitcoin advocates eager to spread the word of a new supportive business. If you are a first in your area or industry, share your story on the Bitcoin forums and with local/industry blogs.

There's nothing wrong in accepting Bitcoin as a payment method. Bitcoin community and users are growing all the time but as said it's obvious that price isn't going to stabilize any time soon. You can always make a small script that changes the product price depending on current market value of Bitcoin.

I accept bitcoins.

i will prefer money directly in my hand

I can't believe there are so many people that are obviously mislead about Bitcoin. The Federal Government can not shut down Bitcoin. It might have its up and downs and there will be good news and bad news (like the recent bad news coming out about Mt. Gox), however Bitcoin, and crypto currerncies are here to stay. Closing your eyes to it is like saying personal computers will never work, or the internet is just for Porn.

Fanatics do have the power to change the World in many cases, and in many cases they remain, even if underground.

Look at Religion.
And Drugs.
And Football... Har!

BC

I already started accepting BTC months ago,and you should too.

Its become too famous for me to avoid accepting it ,and people are paying using BTC as well.


Ean

I would go for it, why not ? Any new payment method can bring in some new clients.

The bitcoin had issues recently but would be no issue if you are using it for digital product as you will have less risk. If your buying goods/services from another individual and selling, then think twice as if something goes wrong, it will affect your business reputation

bitcoin is doomed, and illigitamate....better off buying gold and silver. But what would I know ;-)

Bitcoin was just another gen Y character making up some crypto-thingie to make himself money and he did do that. But in the end, this thing will not last, do not fall into the trap of the marketing out there, to tell you otherwise, cause their markeing is VIRAL and SEEMS good. STay away would be the message from me.

Is it true that payment in bitcoin are irreversible?

What is the value of a BitCoin lately?

I hear Bitcoin is supposed to hit $10k, sounds ridiculous but if you would've told me that it would be where its at today about 2 years ago, I'd say you're ridiculous..

Cheers!
Pedro

I have 100 coins for $10K woot woot. Yeah, now a nice yacht, a nice car, a house .... oh zhit stores not taking me lucky charms!

Bitcoin is always going up and down, but it is a great way to accept money on the net regardless. I set up bitcoin on my site and if someone wants to pay me via bitcoin I am more than happy to take it. It also is a good option for people who contact me wanting to pay in some other form because they cannot pay by PayPal, so in those cases it is an order I would not of seen othewise.

bitcoin is a joke, peer to peer bartering is the most you can do with it. Businesses are going to stop taking it as a form of payment once they start having issues when it comes tax time.


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