Hey DWB, and others who accept Bitcoin on their sites...
 

I'm not going to be rude enough to ask what sort of volume you do, but would you be able to reveal the rough percentage of overall sales that come from BTC? And, is the percentage trending upwards?

Wondering whether to spend a bit of time hacking together something that will accept BTC on a couple of my small sites.

PS: Yes, I know it's ANOTHER thread about Bitcoin, but this one is actually related to the adult biz.

Would like to know too :thumbsup

would also like to know...and also..what places are best to exchange bitcoin...cash out...and such

Cashout - I just used Coinbase and it went smoothly. The money is in my regular bank account and I sold on Tuesday.

Less than 1%. But we have small niche sites. Someone larger would obviously do much more, but I still doubt it would be over 1% - 2% of their total sales. As bit crazy as people seem to be, they are not lining up to pay for porn. My thought has always been, if you're smart enough to wrap your head around bitcoin, you probably don't need to pay for porn and know all the places to get it for free. That said, we have had a handful of guys join and tell us they don't want access, they just wanted to support us for supporting bitcoin.

The good news is, due to the volatility of btc, those members can end up being worth quite a bit. For example, due to the recent btc raise, those who joined at a lower price are now worth the same as members who would have rebilled for 6 - 7 months.

Should you do it? Sure. Will you get rich from it (via selling porn)? I highly doubt it.

Where to cash out: If you have a Bitpay account, you can cash out with them in a few different currencies, if that's where you want to cash out. Their exchange rate seems to be in line with Coinbase.

Nice to see you trying out bitcoin on an adult site...I feel better knowing there's at least some people in the industry who still keep with the times and try out new things :thumbsup.

I'd rather lose 1-2% in sales that encourage the new "PayPal of file lockers"

Thanks.

Credit cards also fund file lockers, and a lot more than bitcoin does. Bet you're taking those. :winkwink:

i'm pretty surprised there are any amount of bitcoin purchases for goods and services over the last couple of months with the value increase.

Well the price of a membership is just a super small fraction of BTC at its current rate :thumbsup

i understand that. nevertheless, if something is $5, why would i buy it with bitcoin values increasing 10x in the last year alone?

it's the equivalent of spending $50 on a $5 item, as dwb points out those customers are of more value because they are giving up an investment to make a purchase.

Ahh ya, true, kinda dumb in a way, but some of those guys have 1000's or tens of thousands of BTC from buying in way early. I guess it's all like free chump change

:offtopic
"Bitcoin" was the answer to a Jeopardy question yesterday. Guess it's arrived.

I don't see bitcoin being used as a payment device for a long time. Not until the price stays stable for more than 2 weeks at a time.

could be, one person's chump change is another's incremental revenue.

Nothing goes up forever. The idea that it is always is going to worth more in the future is a sucker bet on everything ever invested in. Just a heads up.

no need for the heads up, or gfy investment advices.
you're missing the point and must be assuming i was born last nite.

i never said or thought btc is going up forever.

but again, my point is not only valid it's true. if you bought a $5 product or service via bitcoin just several months ago, you paid the equivalent of $50 for it.

feel free to do that, i'll pass.

that's exactly why someone would want to dump them now... when it comes to investments the rule has always been: buy low, sell high... :2 cents:

again, no need for gfy investment advices and you as well missed my point. the simple fact is if you bought a $5 dollar widget several months ago with bitcoin, you paid $50 for it.

that's a lot different than cashing out bitcoins and putting that cash somewhere else.


thanks though.

the following investments will not be going up forever, sell now.

real estate
diamonds
gold
silver

OK .... I may be an exception to the norm ... but I was asked by a large client of mine with a couple dedicated servers, if I would accept bitcoin.

He paid me for 6 months of service with 19 bitcoins a couple months ago, when the value per bitcoin was $88.10.

Now fast forward a few months, and bitcoins have gone as high as $1019, but I was not lucky enough to cash out when they did. Even as of today, BTC is still worth $854 ... almost 10 TIMES increase in value in just over 2 months ....

Not even my mutual funds give me as good of a ROI, and it cost me NOTHING to set up ... :thumbsup

EDIT: A1 Web Solutions now accepts bitcoin for payments on all of our plans.

it goes both ways...

if you bought bitcoins at $100/BTC and are spending them now... isn't that like paying $5 for a $50 widget?

or what happens, if you buy $50 widget with bitcoins now, and price of bitcoins drops to $100/BTC in a month? how much would you have paid for that widget then?

I'm not trying to say bitcoins are a bad investment... the price could very likely continue going up...

but still, someone sells when they feel the price is "high", and at $1000/BTC it is a completely reasonable call...

when do you think it will be "high" yourself? at $10k? or perhaps never, it will just continue going up forever?

i don't disgree with this. but my original comment still pertains, if you're into bitcoins right now, i would be surprised to see any significant amount of purchases or increase in purchases over the last couple of months.

here's the comment-

i don't speculate btc publicly. :)

again, i simply stated i would be surprised if there were any significant amounts of purchases of goods and services via bitcoin over the last couple of months.

you are right, it makes sense that many people would tend to hold on to to them when the price is rising... but on the other hand, they might want to get rid of them when the price is high enough... which is a different level for different people...

it's not that clear which strategy would outweigh... it's probably a mix of both...

Not sure if this is what you are saying, but we charge our bitcoin customers via a USD price. That way it doesn't matter what a btc is worth at that moment, as it always changes out to the dollar exchange we set, $20 for example. So the fee is always $20 and not whatever btc is at the moment. Btc is too volatile to charge the price in btc.

it's such a new thing and so dynamic,

to have bought, say, $50 worth of btc when it was a nickel and looking at it that way, i can see a purchase or 2. when your $50 is now worth ~$850,000 i guess what's the difference.

i always separate investment resources from purchasing resoures also, perhaps that skews my view and prompted my comment about being surprised.

i'm looking at it from your customer's view. if i were that customer and looking at my btc portfolio and my purchases over the last year, i would conclude that i actually spent $100 on that $20 item.

you corroborated that with stating that customer is more valuable than a customer paying in with a credit card. in essence, that btc customer gave you their investment in btc.

I take it you don't accept cash as well then.

Yes. However, if btc hits a point where it's stable, or drops in value, then single memberships won't be as profitable as they just were. In our case, this recent spike is what made the members worth more. It could have just as easily gone the other way.

you really aren't comparing those to bitcoin are you?

diamonds maybe..

of course not.

following the thread, i was given investment advice that nothing goes up in value forever.

yet gold, diamonds, and real estate have always gone up.

i understand that, again, my comment was simply that i would be surprised to see any real significant amount in purchases of good and services via bitcoin over the last couple of months due to the INCREASE in value over that time.

certainly it could have easily decreased value but my comment was in regards to what it has in fact done.

I imagine that those using bitcoin to pay for porn are doing so either because they don't have credit cards or other conventional purchasing tools, because they want anonymity or privacy or they want to avoid cashing out to the real world and thus having to account for the funds.

Also, other than buying porn, I can't think of a lot of other ways that you can spend bitcoins without breaking laws or having to reveal a real world identity or delivery address.

too unstable value

I run a program and got lots of people who does not want to use credit cards (especially europeans), and no one ever asked to use bitcoin. They're using paysafecard and other prepaid voucher. These are anonymous, prepaid, available in local shops, and stable currency.
Bitcoin, except for investment, it is used for international transactions that needs not to be tracked due to tax or other reasons. It is a competitor of western union, moneygram and cash hidden in cars on border crossing.