(Donating) Bitcoin

I searched the forums and came across a thread that was back in 2013 that suggested BTC as a alternative payment option.

I want to repost this suggestion since BTC is a very safe and somewhat simple currency to use for purchases (especially donations) as they do not have any risks of having a payment being charged back.

Now for my reasoning of wanting this implemented is because most of my income is in Bitcoin and it's a hassle getting the currency exchanged to Paypal (Especially since I am limited because someone sent me an unauthorized payment). It's easy for me to use, and if needed I can supply a step-by step tutorial for members here to learn how to use Bitcoin aswell.

If you guys have any questions regarding this, Let me know and I'll be happy to answer.

 

My one question is whats wrong with CC and pay pal?

 

I don't own a CC at the moment, and my Paypal was limited because someone sent a payment that was unauthorized, which doesn't allow me to send/withdraw money from my pay-pal.
Bitcoin is just safer and easier to use in my opinion.

 

Lol no -1.

 

I don't see why you'd disagree with this suggestion, It's allowing me and possibly others to support the servers. I am not asking for Paypal or CC to be removed, I am simply asking for BTC to also be a payment option as-well.

 

How do you buy bitcoin without a CC or PayPal? How easily would it be for our server owner to convert it into actual money that can be used to pay for the server maintenence?

 

You can buy bitcoin with your bank on different sites, Exchanging BTC is simple. There are different sites that will do Bitcoin > PayPal exchanges (also Bitcoin has more value too so there is also profit from it)

 

IT doesn't seem practical in my opinion. Bitcoin's current conversion rate to USD is $703.10 for one bitcoin. It's like walking into a bar with a million dollars and asking that you be served a single drink...

Either way, it doesn't seem like a big deal to allow it but, it just isn't that practical.

 

Eh. That's not how bitcoin works.

You can very easily transfer 0.0.36 bitcoin, for a $25 USD payment. That's routine; and at the same time- not really that impractical.

 

Im sure Highwon would love to deal with fractions of coins

 

Literally with anyone who uses bitcoins does. That's the norm. It's no different than handling cents in USD currency.

 

Make up your mind.

 

Does it look like he's done bitcoin?

 

To be fair as well to the other arguments, the first quote you quoted isn't true. It's incredibly easy to get it converted to paypal currency with only about a 5% fee.

 

So instead of BTC donors paying the fee, Highwon would be paying it. I think it should stay the same and players can do their own conversions for the sake of things like taxes.

 

I believe that it would be Highwon who would be gaining money from that 5% fee, like I said, BTC is Higher in value.

 

And what happens when BTC value drastically drops?

 

It's happend before, it always comes back up. That's also usually when people purchase BTC and just wait for the value to go up and earn even more profit.

 

But doesn't the value of BTC fluctuate?

It doesn't seem like a reliable currency if thats true and it seems like it would be a pain to integrate into the current donating system.

 

No. I believe what Mango is suggesting is that Highwon would have to pay 5% to transfer his BTC funds to his paypal account.

This is substantially higher than the 1.8% that Breadcrumb (the current CC processor) uses. Because of this point I think I'm going to switch to the "should not" camp. It's a really good point.

Out of curiosity- what argument do you have against transferring your btc to paypal and eating the 5%?