Bitcoin

[Ghome1971]

Hi

Has anyone contacted seller deck regarding incorporating a Bitcoin payment function? Etsy sellers are taking Bitcoin but its a slightly cumbersome solution. I think it would really put Sellerdeck ahead of the competition if a solution could be found.

[Mike Hughes]

Do you really think so?

Aren't Bitcoins just a virtual currency who's only real advantage is that they're untraceable, making them perfect for drug dealing, arms trading, cyber crime and avoiding restrictions on currency movements?

Other than techy types who get excited about the concept and gamblers who want to bet on them becoming more valuable are they really going to be important to our typical customer base?

Given the risks involved and the rather limited appeal they just don't appear anywhere on the list I have of things that are going to help me grow my business.

Still, maybe I live in a sheltered world and I'm just blind to the oncoming rush. I'm not sure though. I always thought that you just needed to have one payment method that suited your customer for them to make the purchase. Are you saying you think there'll be a significant number of people who won't find paypal and bank cards acceptable?

Mike

[Ghome1971]

There are influential economic experts such as Mike Maloney that are taking quite an interest in Bitcoin. It has a finite quantity (like gold) and is not linked to deficit spending and bank credit and so can be argued that it is more like money than currency as it has potential to hold its value, unlike the GBP and USD which are being printed towards oblivion. USD is currently exporting its inflation which will come back and bite them and when this happens Alt currencies and Gold may be the money or currency of the future.

[Mike Hughes]

From an economics viewpoint I'm sure it's very interesting.

I still haven't heard any reason why I should want to accept it as a payment though. If I want to invest in it all I have to do is buy some just as I could gold.

Likewise if I wanted to spend some gold all I'd have to do is convert some into the currency of my choice and then spend that. I don't need online shops to accept payment in gold online.

Not to mention that bitcoin is unregulated so you're putting your faith in an uncontrolled system with no comeback when things go wrong. If the vault where you keep your bitcoins disappears or loses your bitcoins then tough. There is no safety or security.

The key thing for me is that I don't think accepting bitcoins is important to my customers. Sure, you can generate some publicity by jumping on the bandwagon but that seems to be about it to me.

Mike

[Cuan]

none of the crypto currencies are naturally anonymous. the most important character of them that i can see is that they're boarder-less. if your customers don't need or want it, then that's a good reason not to bother.

[jont]

Mike - I am starting up my own currency call BIKCOIN - the exchange rate yesterday was 1 BIKCOIN = 20p ... today it is valued at 1 BIKCOIN = £5000.00

No rules, no guarantees and should you invest £150,000 I will get hacked and you will have no recourse as there is "a technical issue with the server" ... oops ... sorry.

If I can get 3 likes on this post I will start a post on the request a feature board.

My previous concept of putting £1000.00 into a cardboard box on the side of the house wall for all the street to invest into failed. It rained and the money was "lost" but this is totally different.

[jont]

Thanks to all you early investors. A wish list thread has been started. The wagon approaches ... jump aboard now people.

[printerbase]

If anybody want to know more about Bitcoin then you should listen to these 2 podcasts by the team at SiteVisibility:
http://www.sitevisibility.co.uk/blog...t-episode-256/
http://www.sitevisibility.co.uk/blog...t-episode-257/

There is some really interesting stuff and it changed my opinion on Bitcoin, for the better.

Peter

[chris ashdown]

Remember the good old days when we could all pyramid sell to our hearts desire, admittedly some did not hake as much profit as the founders but what a great idea and so many supporters

If I may i will invest 2357 scrobies into your new idea John, big pity about the boxes, maybe sell them as pulp on ebay for some bit thingmejobs

[Buzby]

In all honesty if I was purchasing on a website that I felt happy and secure with, and was then presented with paying buy Bitcoin, I would not continue with the order.