A Random Thought About Paysites and Bitcoins
 

As an anonymous and untraceable currency, I would imagine the most controversial and extreme sites on the web would benefit the most from accepting them right now.

If I ran a site or network of sites with rough sex, hard bondage, pee stuff, etc., I would add this billing method ASAP, since many people are likely reluctant to join such sites with a traceable credit card.

Vanilla sites may not benefit as much, but there isn't too much to lose right now.

Eventually bitcoins will either go belly-up, or it will gain traction and require legal verifications.

Right now however, if you have an extreme site, you would be crazy to not try this.

That's my random thought for the day. Thank you.

bitcoins have been used from beginning to pay guns, drugs, warez, c*, zoo and similar stuff ... so you are talking now about legit webmasters? i got it ... :winkwink:

I think the major downside is the lack of recur billing with Bitcoins. Recurring membership fees is the real profit for paysites, without that feature, you can kiss PPS goodbye as well as rebills.

And people who want anonymous billing have had the option of using throw away debit/credit cards bought in drugstores for years now.

Not an argument - just playing devil's advocate, but unless you update daily and/or offer live cam shows, rebills are almost non-existent these days, and bitcoins are still a little more convenient than going to the drugstore for prepaid cards.

Maybe? Maybe not?

Most well established paysites will have an avg retention of 2-3 months (some have more). Otherwise, you wouldn't have PPS payouts.

For the common person, I'm sure that going to the drugstore and buying a card with cash is much easier than opening up BTC account, using the marketplace to fund it and then spending the BTC. I can't imagine trying to show my father how to use such a system, yet VCC cards are a simple concept based on a technology everyone is familiar with.

I think making sense in a post on GFY is a banable offence :upsidedow

Yup, just don't add it as a payment option. After all it's better to make 0 than extra money.
Which idiot would want extra money!

I would think that the major downside is that there is zero value; why not sell memberships for Monopoly money?

I never suggested that programs shouldn't add it as a payment option. I only stated the down side of using BTC as a transaction method.

In the OP's post, he mentionned extreme sites that would have a hard time getting regular processing. BTC would be an alternate solution, however, its sad to lose out on so many rebills because those type of sites rebill like mad (you make your money on the rebills, not the one off membership sales).

Actually, doing Clips4Sale type of sales would be a better solution for that kind of site now that I think of it. BTC would be perfect for micro transactions.

that's an extremely good point

see what i did there?

Half of me agrees with you 100%

The other half believes the US Dollar (and all central banking currency) is also just as good as monopoly money.

I'm amazed by how many places actually accept bitcoins. Here is a partial list...

https://www.spendbitcoins.com/places/

All trading with monopoly money, I guess, kind of like Wall Street.

Yeah, because if you change it to cash 15 minutes later there is zero value.

Fucking idiot.

What's it like to be so old yet so clueless?

As much as you would like to claim otherwise; one can not survive on bitcoins, whereas someone CAN survive with USD's and even Euros. :2 cents:

Jesus christ! I'm not even gonna comment on this. You're just trolling now.

You can't be THAT retarded.

bitcoin is the best thing after internet. that people are able to support and secure their own independent and fixed value-exchanging network and freely transact through it is just unbelievably amazing. this is history in a making. yeah zero value, pure monopoly money...

I don't see any currency designed to help "avoid" having much of a future.

i know right?!!! totally agree. :thumbsup :1orglaugh

only this time monopoly money become free of human factor and ultimately free of manipulation. money v.2 if you like

This thread got too many Dirty F posts.

don't let the fact that every single digital currency before bitcoins went underground stand in the way of your optimism...

when I say went underground I do not only mean it went bust but also most of the transfers were illegal shit..

they just started accepting WU and money gramm...bad move LOL...egold/webmoney/liberty reserve learned this lesson the hard way...digital currency +atm or WU= heaven for scammers...

history repeating....

yes, let's all stop what we are doing because someone else failed at doing it before.

history isn't repeating here because bitcoin is nothing like egold/webmoney/liberty reserve. egold and LR went under for their own specific reasons, not because they were simply a "digital currency".

curious, who just started accepting WU and MG?! Bitcoin?! :)

bitcoin is exactly like egold...it only has the mining factor added for shiny object syndrome...plus the ponzi factor...it is a digital ponzi currency...

because I did tons of transfers with evocash, egold, 1mdc, liberty reserve, webmoney ect. ill tell you what will happen:

high risk shit does not process well...forget mastercard, visa, amex...forget bank to bank funding most are too lazy to go though the hassle...forget paypal funding they will not touch ponzicoins with a 100ft stick...

now, according to our resident bitcoin spammer Western Union and MoneyGramm have been introduced as a means of funding and/or cash out...this is the end...

anon digital currency + WU or MG=scammers, ponzis,drugs,steroids,HGH,china pills, CP,rape,snuff,besiality ect. heaven...EVERYBODY from the above list will start accepting bitcoins just like they did the currencies before with easy ATM or WU payouts...

bitcoins will go so far underground that mining will actually be an appropriate term :1orglaugh:1orglaugh

ive talked to so many exchangers over my years of dealing in ecurrency its a huge problem...regulated ecurrency with strict KYC is a pain in the ass and customers will rather pay by CC or paypal...

the only reason I used ecurrency is because my country was under sanctions there was no money transfer allowed...i dealt exclusively in ecurrency for maybe 4 years and then moved to WU because it was less of a pain in the ass for customers...its a nightmare explaining to regular people the very basic concept of ecurrency...I had to write step by step funding guides for complete idiots and most did not get it the first time...many of them just sent me their user and pass because they thought they would somehow make a mistake with the transfer...

Investigators are currently attempting to trace the purchase of a semi-unique battery that was used in the Boston bombings. They are investigating purchases for this item, in hobby shops, via online stores, through ebay, etc.

If such an item were purchased anonymously via something like bitcoins, the investigation might not be so easy to follow up.

Unfortunately, this is yet another reason this billing option may not last very long.

At the moment however, I guess it works today.

A few years ago I would have thought illegal copyright theft and lack of adult verification and/or 2257 record keeping would have killed off the tube site business model too, and yet here we are.

May that evolve into ethnic cleansing

Bitcoin sites are already being shutdown by banks and feds. bitfloors.com ring a bell? Who wants another reason for fed intrusion into their business? People are idiots.

go on to BT forum search for egold and or LR, it might provide insight on how different bitcoin from egold/LR is, how the first ones fell and why it's not applicable to bitcoin.
also you might want to look up definition of "ponzi"

Time to get innovative and think of a way to rebill using bitcoins. Only thing I can think of is generate a bitcoin address and spam the user 5 days before their membership expires to send the next months payment to that address before their membership expires. Maybe throw in a discount incentive if they renew before it expires. :2 cents:

Lots of the beasty sites have been processing their sites with bitcions for years.

To be clear, I am not condoning or attempting to assist "illegal" sites.

I was only referencing legal sites that may be considered extreme and/or questionably edgy, which some people may prefer joining anonymously.

That is all.

what is the difference?

all I see from the bitcoin crowd is stupid arguments like "we are untouchable, yet a stupid ass DDOS attack had us all shit our pants"

in reality bitcoins are much more fragile than egold was...egold got ddosed all the time...you guys barely survived one attack...

6.000.000 native americans agree with you...your founding fathers were truly men of honor :1orglaugh your ivory tower is so ivory :1orglaugh

Yup, only idiots don't take payment in gold, silver, diamonds, litecoin, trumove cards, Zimbabwe cash, Skrill, or any of the other million options out there from around the world. After all it's better to make 0 than extra money.
Which idiot doesn't want extra money?

But I'm sure you accept every form of payment ever created, so kudos. 'Cause that's just how you roll. I would love to see your join page. I bet the amount of payment options you have is mind boggling.

Fucking moron.

if you feel that way about your US dollars, send them to me and I will take care of them for you. You are right they are worthless. lol

In all seriousness, no matter all you hear about the dollar this and the dollar that. Its a very solid currency. If you have a grand in your account, you have a grand in your account. Not well you had a grand now you got $500.
If you want to do it, you should try it and look at it as a wash. So you make some money great, it crashes and burns its oh well.

If you could send me gold, silver, and diamonds as payment in a timely manner, I would accept them, :o

Since you'd have to overnight ship it, the loss is on the buyer having to wait until said physical transaction was received.

Riiiight. That's what I thought.

How do I accept quatloos ?

So long as you're USD are not in Cyprus, that would be correct. :Oh crap

You're losing out man. Franck says you're an idiot for not taking quatloos.

A friend of mine from turkey. When there was the mortgage crash, his bank Country Wide failed. He called me, freaking out. I said you're fine its insured. Then he saw and couldnt get over how seamless it was and how his money was fine.

My friends with less than $100k in Cyprus banks could get that back already, from this week at rate of $20k wire a day. Can't say the same of my friends with less than $100k in Epassporte wallets :)

Sorry, that comment was just retarded. And you i know you know that.
Dumb troll.

You're getting beyond pathetic.
You're acting like a fucking baby right now.

I am not a gambling man. If I were to ever use bitcoins as a payment option for a site membership, I would never hold any bitcoins in reserve.

A person pays $10 to $20 in bitcoins, and as soon as humanly possible, I would want that money wired into my account.

I think coinbase pays out once daily (but I could be wrong). There is always the chance that the exchange goes up or down a bit before you get paid, and that is a risk, but if you cash out on a daily basis the risk is relatively low. Even if the currency crashes 100% the most you would lose is one day of bitcoin join sales, so no big deal.

I would not trade or horde bitcoins however, as again, I am not a gambling man.

They payout once per day but the btc is converted to USD within 15 minutes, I believe even with an exchange rate guarantee.

I was surprised so many businesses selling tangible products are accepting BitCoins. The volatility alone makes it a problem. Even when BitCoins were under $1, the daily swings make it difficult to make steady profits. If you buy a product wholesale at $10 and expect to sell it at $15 and you have BitCoins swinging from $5 to $20 you have to adjust your price in real time. Not a way to make customers happy or insure you make a profit. Although I think most of these businesses are accepting BitCoins for the publicity or thought BitCoins would just keep rising.

If you shoot your own porn, once you break even everything else is profit. So it doesn't matter if you make $5 or $20 in BitCoins it's all profit.

Why won't BitCoins go mainstream? Once the IRS and state departments of revenue see mainstream businesses start accepting BitCoins rest assured those businesses will be getting more intense audits. Bars, a business already notorious for not reporting all income won't have to worry about audits. State liquor control will just prevent bars from accepting BitCoins or lose their liquor license.

Mt. Gox claims to be an exchange where a buyer and seller meet. That's the way the NYSE works, almost. Prices rise and fall on demand. But sometimes there are order imbalances (too many buyers or sellers). To smooth out imbalances, a broker agrees to become an Order Maker in one or more stocks. He personally keeps an inventory of shares and sells these to buyers or buy from sellers. But a run up or down even an Order Maker can't prevent prices to skyrocket or drop like a rock. In extreme cases the market closes.

Mt. Gox is a Order Maker. Prices shot up to $250, people decided to cash out. Mt. Gox couldn't keep an orderly market and had to close the market. There may have been some ddos, but it sounds to me more likely Mt. Gox is closing the market. Proof is Mt. Gox is a Order Maker is that they restrict sales to 1000 BitCoins per day. If they were just an exchange they wouldn't care how many BitCoins trade per day.

:1orglaugh:1orglaugh:1orglaugh

Nobody here seems to understand this for some reason. And it's so simple.
You sell your product for 50 dollars in bitcoins and have it exchanged to dollars within 15 minutes. What is the problem exactly? Yes bitcoin goes up and down but you have to ge extremely unlucky to lose a lot in those 15 mins. It might happen every once in a while but it will also go up every now and then.

You people make a problem of something that isn't a problem In the first place.