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  #1  
Old 07 Sep 2014, 03:29
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RichieBoy67 RichieBoy67 is offline
 
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Real name: Richie
Anyone accept bitcoin?

I have been thinking about accepting this from some advertisers and clients. I messed around a bit with bitcoin years ago when it first started but I have never accepted it as payment. I have been looking around but would love to get some feedback from you guys on merchants, etc.

Thanks,
Rich
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  #2  
Old 07 Sep 2014, 10:34
Dave Dave is online now
 
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I don't accept it simply because it's not a stable currency. Minor things can affect the value of a bitcoin, such as a DDoS attack.
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  #3  
Old 07 Sep 2014, 12:53
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RichieBoy67 RichieBoy67 is offline
 
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Originally Posted by Dave View Post
I don't accept it simply because it's not a stable currency. Minor things can affect the value of a bitcoin, such as a DDoS attack.
Thanks.

I do not plan on holding onto it. There are ways though to accept it and exchange it and have it added to your bank with in a day or so.

And when I accept it I will only accept the current usd value at the time.
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  #4  
Old 07 Sep 2014, 16:58
Dizzy Dizzy is offline
 
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Tbh, I've seen that the only websites that accepts bitcoin are related to cheats, hacks & DDoS stressers! But yeah, I wish you all the best!
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  #5  
Old 07 Sep 2014, 17:36
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RichieBoy67 RichieBoy67 is offline
 
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Originally Posted by justatest View Post
Tbh, I've seen that the only websites that accepts bitcoin are related to cheats, hacks & DDoS stressers! But yeah, I wish you all the best!
Not really. Bitcoin is very main stream now and many companies accept it as payment.

Here are a few:

Overstock.com
Virgin Galactic
Wordpress
Reddit
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  #6  
Old 07 Sep 2014, 22:06
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Paul M Paul M is offline
 
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I have no need of payments on my site, but if I did, I would steer well clear of bitcoins.
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  #7  
Old 07 Sep 2014, 22:14
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RichieBoy67 RichieBoy67 is offline
 
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Originally Posted by Paul M View Post
I have no need of payments on my site, but if I did, I would steer well clear of bitcoins.
i hear ya. I will only be using for a few select people and again, it will go from bitcoin to usd right away.

It is true though that many large companies are starting to use it and even Amazon and Paypal are considering it.
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  #8  
Old 08 Sep 2014, 04:09
Big Al Big Al is offline
 
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Care is reccommended.

The viability, stability and future of what could be called "virtual currency" is still open for debate.

One of the things of concern is that Bitcoin and similar are not backed by tangible assets, IE Gold reserves etc, so could possibly disappear overnight. I am not saying it will, but it is a possibility.

A search of the internet reveals many scams associated with fraudsters getting involved with virtual currency, so care is needed.

Many of the scams are showing various degrees of sophistication and so are attracting tech savvy scammers.

Below is a link to more information about some of the various scams that have been spotted.


http://antifraudintl.org/forumdispla...al-Money-Scams
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  #9  
Old 08 Sep 2014, 04:20
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ForceHSS ForceHSS is offline
 
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Stay clear of it I myself will never use it
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  #10  
Old 08 Sep 2014, 19:48
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BirdOPrey5 BirdOPrey5 is offline
 
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I can only imagine all the extra pollution being produced by all the people trying to mine bitcoins... it's sad. All that waste for a completely virtual currency.
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  #11  
Old 09 Sep 2014, 04:25
dienmaygiadinh1 dienmaygiadinh1 is offline
 
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I don't accept it simply because it's not a stable currency
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  #12  
Old 09 Sep 2014, 04:49
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RichieBoy67 RichieBoy67 is offline
 
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I signed up for a service that instantly exchanges the bitcoin for cash. The only problem is that I was not approved because you need a store front. grrrrrr

And what ever your opinion is on it I think it is gaining momentum and growing very quickly. It is also becoming more stable as large companies start using it.

In terms of mining it.. That has changed and only a small amount of people can now do it and have it be profitable. It takes a very, very powerful machine and lots of power to actually generate anything which is why so few are doing it these days.
This adds to the stability in a way.

Like it or not I believe it is here to stay. I would not mine iot or hold on to it but I would accept it from a few clients that I trust. I do know people that bought some years ago and they now have some decent profit from it but ofcourse these types of things are a risk.

So, back to my question.. does anyone here accept it and can you recommended a trustworthy merchant?
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  #13  
Old 09 Sep 2014, 22:32
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squidsk squidsk is offline
 
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Originally Posted by Big Al View Post
One of the things of concern is that Bitcoin and similar are not backed by tangible assets, IE Gold reserves etc, so could possibly disappear overnight. I am not saying it will, but it is a possibility.
You do realize that virutally no currencies are actually backed by tangible assets, including the US, and most countries haven't been since the great depression.
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