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BitCoins
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BitCoins

apollo15apollo15 Member
edited February 2013 in General

Hey,

Is there any of you who accept BitCoins? What processor you use and how do you exchange, what's exchange fee?

Comments

  • FreekFreek Member
    edited February 2013

    If I hear the word Bitcoins, I always have to think of this guy:

    That was the first video I found regarding Bitcoins when I was searching for an explanation what they actually were and how it worked. Might not have been the best video to start watching with if you're new to Bitcoins lol.

  • @Freek said: That was the first video I found regarding Bitcoins when I was searching for an explanation what they actually were and how it worked. Might not have been the best video to start watching with if you're new to Bitcoins lol.

    I did bitcoins for about 6 hour. But it was hammering my gpu and I'm sure the power it uses is worth more than the bitcoins I get trough it.

  • trewqtrewq Administrator, Patron Provider
    edited February 2013

    Versatile IT can accept bitcoins. However you will have to send a support ticket after you order so we can create a new address for payment to be sent to.

    A good payment processor is https://bitpay.com/ I have used them for other sites before.

    I find that accepting bitcoins is bad for lower priced stuff like LEBs. The exchange rate fluctuates so much you may be loosing $1-5 before you realise the exchange has taken a jump, then you have to wait until the exchange rate is back to what it was so you can get the correct amount in your default currency. In saying this over the last week the exchange rate to USD has jumped from $13 to $20.

    All in all if you need high cash flow as most businesses do then offering bitcoins as a regular payment method is not the best idea.

    Most countries have a local business that will do exchanges. They all vary in their fees. Most of them work of a 24 hour weighted average of the main exchange (Mt. Gox).

  • Well, I will probably use bitpay.com

    Exchange to PayPal possible I assume?

  • trewqtrewq Administrator, Patron Provider
    edited February 2013

    Yes and no. Bitcoin to paypal transactions are very risky and paypal fees are involved.
    The reason it is risky is because Bitcoin transactions can not be reversed but paypal can. Also currency trading is not allowed in the paypal ToS.

    You're better of finding an exchanger in your country and getting them to do a direct bank transfer to you.

  • Yes, I know, hence I'm asking for a trusted exchange company that does BitCoins -> PayPal for a fee, same as it would be if I accepted LibertyReserve.

  • There is no trusted exchange companies. I'd personally go up to someone on a site that you know, then ask them if they're willing to exchange.

  • trewqtrewq Administrator, Patron Provider

    @curtisg said: There is no trusted exchange companies. I'd personally go up to someone on a site that you know, then ask them if they're willing to exchange.

    +1

  • gubbytegubbyte Member
    edited February 2013

    @apollo15 please get a real job

  • @trewq said: over the last week the exchange rate to USD has jumped from $13 to $20.

    All in all if you need high cash flow as most businesses do then offering bitcoins as a regular payment method is not the best idea.

    Using bitpay, this is a non-issue, they pay cash the next day, who cares what the exchange rate is.

  • apollo15apollo15 Member
    edited February 2013

    @gubbyte said: @apollo15 please get a real job

    I do have a real job. Please re-read, and re-read again if needed.

    Fail much?

    @everyone else, thank you for your input, helped a lot.

  • @apollo15 said: I do have a real job. Please re-read, and re-read again if needed.

    Then why are you scummy enough to use Bitcoins?

  • @gubbyte said: Then why are you scummy enough to use Bitcoins?

    Is he scummy or just making a choice to use something you may not? That's like saying I like MasterCard, everyone using VISA is of questionable intelligence.

  • @gubbyte said: Then why are you scummy enough to use Bitcoins?

    Why are you scummy enough to criticize everyone else? You get a real job.

  • @Ishaq said: Why are you scummy enough to criticize everyone else? You get a real job.

    I get paid by the comment, don't worry

  • We accept bitcoins through bitpay

  • We accept BTC among a few other up-and-coming currencies. I highly recommend Bit-Pay, they have been excellent for us.

  • DewlanceVPSDewlanceVPS Member, Patron Provider

    We accept bitcoin and my balance is only 3 BTC.

    You can use LR exchanger

  • @DewlanceVPS said: We accept bitcoin and my balance is only 3 BTC.

    You can use LR exchanger

    But I run the risk of you withholding my bitcoins claiming I've "done a fraud".

  • @KernelSanders said: But I run the risk of you withholding my bitcoins claiming I've "done a fraud".

    LOL +1

  • @KernelSanders said: But I run the risk of you withholding my bitcoins claiming I've "done a fraud".

    Yea paying with bitcoins is pretty much a no refund payment method.

  • BK_BK_ Member
    edited February 2013

    @KernelSanders said: But I run the risk of you withholding my bitcoins claiming I've "done a fraud".

    Uhh, risk? Almost a guarantee ;P

  • GigaTux and @hc-ro or @hcro, whatever his name is (Rogan from HostingCove) are the only ones I know. HostingCove may not have it setup just yet, shoot Rogan a message though and he'll hook it up.

  • We are using BitPay https://bitpay.com/ though I have never been on the paying side of it, it seems to work fairly well.

    We are moving everyone to HostBill (where our bitpay is) from WHMCS this week so if you are caught in the crossfire let me know.

  • I have not seen it mentioned here but there ARE ways to use paypal to get money into bitcoins if you have the time to wait. I am not sure of the holding period or what not but there IS an exchange that allows you to convert SLL (Second Life Lindens) into BitCoins. I have done this to test and it worked just fine.

    With an avatar in Second Life you can use paypal to buy Lindens (in world currency), you can then create an account at the exchange and and then convert your SLL to BitCoins.

    The exchange will also let you buy other currencies, maybe even BitCoins, with paypal so your method of conversion is whatever you make it.

    The info on the exchange https://en.bitcoin.it/wiki/VirWoX

  • edited February 2013

    I accept Bitcoins via BitPay and the money gets transferred to the bank account. It's the least used payment option, with direct credit card payments being the most utilized. However, I keep it for those who do want to pay with Bitcoins though.

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