Should I accept Bitcoins as an option to purchase domains?

[NameOffice.]

I'm seriously considering including a payment option on my website to checkout with Bitcoins. I understand that Bitcoins are a high-risk volatile currency but the idea is fascinating to me. Just wanted to get your thoughts on this as well.

 

[RazorNF]

Why not, especially if you see the value continuing to go up - then it's a big plus for you.

Namecheap started accepting Bitcoin earlier this year

https://www.namecheap.com/support/payment-options/bitcoin.aspx

Though as you say it is so volatile... I can't say customers would want to use their Bitcoin right now. Say you register a domain for $10 in bitcoin, but the value doubles, you kinda ended up paying $20 instead of $10 for that domain name...

 

[Expron]

I see accepting BitCoins as a major plus to my pricing structure for domain sales. I can tier my domain quality based on the current BitCoin value and gauge the strength of my pricing on the current BitCoin sale price on the fluctuations to my advantage as they keep increasing or decreasing in value. As long as there's BitCoin Exchanges, I would like to offer the option to buyers as a payment option.

 

[urlurl]

Why not, especially if you see the value continuing to go up - then it's a big plus for you.

Namecheap started accepting Bitcoin earlier this year

https://www.namecheap.com/support/payment-options/bitcoin.aspx

Though as you say it is so volatile... I can't say customers would want to use their Bitcoin right now. Say you register a domain for $10 in bitcoin, but the value doubles, you kinda ended up paying $20 instead of $10 for that domain name...

or you buy using $10 bitcoin value today and bitcoins drop in value to $5 - then you just got a name for 1/2 price.

you should look at it like any currency and price volatility into it - like you would for forex exchanging.

 

[SearchEngineZ]

You could use CoinBase - that way you aren't risking exchange fluctuations.

But really, if someone wants to buy a domain and they only have BitCoins, that's a bit strange.

 

[NameOffice.]

You could use CoinBase - that way you aren't risking exchange fluctuations.

But really, if someone wants to buy a domain and they only have BitCoins, that's a bit strange.

I don't think I would want to do this. I like the idea that I could accept a Bitcoin that could possibly increase in value. Of course it could drop too but it's a risky investment I am attracted to. And someone who is paying with Bitcoins doesn't mean they don't have another form of payment, it means those chose to use Bitcoins. Not sure what you mean there.

or you buy using $10 bitcoin value today and bitcoins drop in value to $5 - then you just got a name for 1/2 price.

you should look at it like any currency and price volatility into it - like you would for forex exchanging.

Exactly, which is the appeal of using them. The entire Bitcoin could crumble and you just got yourself some domains for free.

 

[SearchEngineZ]

If you want to gamble on BitCoins rising in value, just buy some - you don't need to accept them as payment.

I feel that if someone wants to buy a domain, they'll buy it using your existing payment options. You won't gain any extra sales from offering BitCoin for payment. So why offer it?

 

[NameOffice.]

I feel that if someone wants to buy a domain, they'll buy it using your existing payment options. You won't gain any extra sales from offering BitCoin for payment. So why offer it?

You don't think so?

 

[SearchEngineZ]

I seriously doubt there is a domain buyer out there, who is willing to spend $xxx+, who only has BitCoins to pay with. If there is, they can cash in those BitCoins and pay you properly...

OK, thinking about it, I could see how someone may have burned every other form of payment due to bad practices. I would be curious to know if those name merchants who have chosen to accept BitCoin are actually benefiting from it, or was it just an opportunity for a press release?

 

[gemstar]

Grab the bitcoin and run!
Bitcoin is the future and is the new domain wild west of the 90s

 

[biggie]

:talk:


the feds and the treasury dept, are currently investigating dem coins



when the shiz-zit hits the fan...whole lotta folks gonna get sprayed with due-due.

 

[Theo Goodman]

It wont hurt to accept bitcoins.

Stop thinking of it in $€ value, as you are able to pay for more and more things in BTC then it will make more sense to keep the bitcoins and use them to buy other goods and services.

If you adapt now, you will still be an "early adaptor"

Bitpay makes it pertty easy and has lots of plug ins. Or you can check out "bits of proof" but I am still trying to understand the whole bits of proof thing myself.

Saying "why would anyone want to pay in bitcoins?" is like saying "why would anyone use email, they can send a normal letter with the post".

-Theo

---------- Post added at 04:27 PM ---------- Previous post was at 04:23 PM ----------

"the feds and the treasury dept, are currently investigating dem coins



when the shiz-zit hits the fan...whole lotta folks gonna get sprayed with due-due."

Did you listen to the last hearing? Look for it and give it a listen.

You will never be able to stop people from using bitcoin as payment, even if it is made illegal to have bitcoins. What is the shiz that should hit the fan? What is it exactly that you are expecting to happen? Didnt the goverment have major hearings on things like "online search results" and "email" and many people in those hearings were quite paniced by the idea that people could just search for info at will.

 

[twomoon]

The other question is who would be willing to pay with bitcoins?

If I would have BC I would never pay with them for a domain, especially now, when we see the rise.

 

[Theo Goodman]

"The other question is who would be willing to pay with bitcoins?

If I would have BC I would never pay with them for a domain, especially now, when we see the rise."
If I spend bitcoins then I "infect" others with bitcoin, this in turn helps the price go up. Therefore only hoarding my bitcoin is counter productive.

If I mine bitcoins then I have an infulx of bitcoins.

If I bought in cheaper than the price today then its interesting.

Also I can avoid cashing out of an exchange and paying , the small, but present exchange fee (between 0.02 and 1%) and waiting for my fiat payout-, the fees for paying with bitcoin are extremely smaller than paypal. As a seller of digital goods it is nice to know that my payment can not be reversed, as with paypal. If you pay with bitcoin then you are out of the fiat circle. Next friday is bitcoin friday, I would implement before then and make some ads about it.

 

[biggie]

What is the shiz that should hit the fan? What is it exactly that you are expecting to happen? .

:talk:

by nature....I always expect and suspect, what others don't.

 

[Theo Goodman]

Yes I understand, but I am by nature , interested in what you are talking about exactly.

 

[biggie]

Yes I understand, but I am by nature , interested in what you are talking about exactly.

:talk:

to explain, and for you to grasp...you'd have to step so far out of your mind and truly believe you could return, without losing it.



but.... the diff between, establishing a means of exchanging funds and replacement of a currency by an entity, rather than a governing body.

that, is the issue


imo....

 

[Ms Domainer]

*

If the Feds get involved, Bitcoins may suffer the same fate as Silk Road.

Too risky.

JMHO

*

 

[gemstar]

Lets look at it this way..As Rick said people thought he was crazy for investing in domains way back. He saw a need and use for them for the future..Well we can rest this assumption. Now there is a need for digital currency for a digital future we are now in..Can we say that history repeats itself? Who knows? Bitcoin can have a bubble burst like domains in the 1990s.Then some Frank Shilling counterpart sees value and buys all can get at low prices, then all of a sudden BAM! ..Forums posting wish I could have should have.
Its a no risk no reward thing.

 

[vWiz]

Its pretty volatile. But interesting nonetheless.
If youre looking for more security in terms of payouts, I wouldn't recommend it.