Since LibertyReserve is Dead, would webhosts start using BitCoins?

[lrc]

Now that Liberty Reserve died will hosts here finally start accepting Bitcoin?

It's amazing that more hosts who obviously cater for a warez oriented audience here have not realised the advantage of being paid in a non reversible currency

no chargeback possible > much less time spend on fraud checking
and of course not having to worry about Shitpal freezing your account for no reason.


Not to mention that if you are a buyer then paying to host your warez site using traceable method such as Paypal or Credit card is just brain dead, you are potentially one subpoena away from jail time.

 

[Smith]

Bitcon is great but it's still not "newbie compatible" if you know what I mean.

 

[Bharat]

Bitcon is great but it's still not "newbie compatible" if you know what I mean.

Agreed on it , only few people know how to even handle it :S Adding them in our gateway system is not that responsive that i thought off .

 

[cvrle77]

Bitcoin is not a form of payment like paypal. It is currency. Using it for illegal activities, will inevitably destroy it's value. Because it is not backed up by gold or anything, it's VERY unstable, and can collapse, which in turn can drive any and many businesses down with it. Bitcoin is everything but great, when it can go down based on a simple speculation by 100%, then it's obvious how unstable it is. Nothing but your belief in it, is backing it up. It's value is controlled by the exchangers, those who will give you real cash, for numbers on your screen.

Just like LR went down for money laundering, Bitcoin is used for same thing. See, whoever had the idea of introducing bitcoin as decentralized currency, is idiot. You can't decentralize money flow in any country, or have anonymous money transactions without being accused of money laundering. Why would ANY country (read your masters) allow you to transfer any sum of money without them taxing you?

 

[JoomlaZ]

As long as Webmoney is there i doubt if there is any need for bc

 

[GeekHosting]

R.I.P!
Thank god! I don't use LR!

 

[Smith]

Bitcoin is not a form of payment like paypal. It is currency. Using it for illegal activities, will inevitably destroy it's value. Because it is not backed up by gold or anything, it's VERY unstable, and can collapse, which in turn can drive any and many businesses down with it. Bitcoin is everything but great, when it can go down based on a simple speculation by 100%, then it's obvious how unstable it is. Nothing but your belief in it, is backing it up. It's value is controlled by the exchangers, those who will give you real cash, for numbers on your screen.

Just like LR went down for money laundering, Bitcoin is used for same thing. See, whoever had the idea of introducing bitcoin as decentralized currency, is idiot. You can't decentralize money flow in any country, or have anonymous money transactions without being accused of money laundering. Why would ANY country (read your masters) allow you to transfer any sum of money without them taxing you?

Some people cashed in a lot on Bitcoin though.

You just need to be lucky to get in early and to know when to cash out :P

 

[HostHK]

Now that Liberty Reserve died will hosts here finally start accepting Bitcoin?

Few hosts would accept bitcoin. We never accepted LibertReserve, and we certainly wouldn't consider Bitcoin. Ever!

It's amazing that more hosts who obviously cater for a warez oriented audience here have not realised the advantage of being paid in a non reversible currency

Perhaps hosts that cater for criminal activities may be more inclined to accept Bitcoin, but any legitimate host would shun it. There are no advantages of bitcoin for legitimate hosts.

Even for warez hosters, the only benefit of bitcoin is that of not being 'reversible' so they need not worry about fraud per se. But that doesn't mean it's a good currency to accept. What happens when someone installs hacking scripts on your server? The common tactic we've seen with stolen cards and paypal accounts is they immediatley upload some scripts to hack other accounts on the same server. The fraud/chargeback alert actually helps find these things sometimes. Bitcoin users are more likely to be enaged in 'criminal' activity and so I would be highly suspicious of a user who wanted to pay with Bitcoins.

and of course not having to worry about Shitpal freezing your account for no reason.

Very rarely does Paypal actually suspend for NO reason. Sure they are **** sometimes but there are benefits to both buyers and merchants. Bitcoins reside on your computer or in some online deposit account. Money is typically safer in the bank than it is under your mattress or in a train storage locker. If I had a bitcoin today, I would quickly cash that in by selling it to the next idiot that comes by thinking Bitcoins are an investment. The only NON idiots that use Bitcoins are those who use it for criminal activity, and perhaps the lucky speculator who has some expert knowledge in Bitcoins and has insight into the near future of it's dealings.

Not to mention that if you are a buyer then paying to host your warez site using traceable method such as Paypal or Credit card is just brain dead, you are potentially one subpoena away from jail time.

Not the host's problem, so this would not be a reason to accept it.

We have customers located all over the world and some who have no access to Paypal or even usable credit cards can pay, also by non-traceable means. They can send cash in the post! Not the best method mind you, but it is effective. If you trust the host enough to send payment via Bitcoin (which is non reversible), why not just send payment via post? Stick some dollars, euros, pounds, whatever in an envelope and send it off in the mail for a few pence/cents. Untraceable and 100% liquid and unfettered by market speculation.

I'll end with, stay away from Bitcoin!

 

[goldj]

Many of you seems to have not have heard of Bitpay. Your customer pays you with bitcoin, Bitpay automatically calculates if it is sufficient according to the latest rate, so you don't have to do any of the calculation or constantly changing prices. Bitpay then instantly converts the bitcoin that the customer payed you to fiat money and deposit it into your bank account. You do not have to touch Bitcoin at all! You are not exposed to the constantly changing rate!

For example, you have something for sale for 2 dollars. Bitpay automatically calculates how much 2 dollars worth of bitcoin is, and when the customer pays the sufficient amount, it automatically converts it to 2 dollars in fiat money and deposit it to your bank account. You do not touch or see the bitcoin. You do not have to hold the bitcoin. Just add a couple of lines of code to your site and see the money flowing to your bank account. It's that simple!

For more info:

http://arstechnica.com/business/2012/11/wordpress-now-accepting-payment-in-bitcoin/

"WordPress made clear that it is not actually holding Bitcoins, nor is it mining for new ones"

"...when a payment is made via Bitcoin, BitPay processes it, then converts the amount into US dollars at the moment the transaction is made."

 

[HostHK]

Interesting. Not sure why any company would take on such risk. Who is left accountable if they cannot meet their liabilities?

 

[lrc]

Its quite obvious from all the replies that most of you dont have a clue as to what Bitcoin is or how it works or what options are available, and in some cases regurgitating fud.

Which in itself is amazing especially on a clearly warez oriented site and audience,
there's so much post posted in so few posts I dont even know where to begin

Oh well its your loss.

 

[Medow7]

How about egopay, is it more reliable for hosting owner?

 

[Loonycgb2]

Main reason we do not use it is because its easy to forge "bitcoins".

Its not a standard payment which we can be paid then receive the money. We have to go thru many to be paid the correct amount in our own currency.

If you want to be a web host bitcoin is the #1 to stay away from. Unless your one of the so-called Bulletproof hosts then i doubt we have any need for a form of currency in which it would take us longer to offer a refund and teach the user how to receive the money after the refund.

 

[lrc]

Ok genius how the hell do you "forge" bitcoins? which hole have you pulled this "fact" out of?

 

[Loonycgb2]

Ok genius how the hell do you "forge" bitcoins? which hole have you pulled this "fact" out of?

Thats like asking how do people crack ssl (even being that its so well secured in cryptic language).

I never said it was a fact, being that its a p2p with cryptic signatures each bitcoin could be manufactured by sending fake data to the central network with hijacked signatures of each bitcoin amounts that have been used.

Try searching around in hackforums the land of newbs they have managed to start selling bitcoins in bunches for low prices.

 

[HostHK]

Ok genius how the hell do you "forge" bitcoins? which hole have you pulled this "fact" out of?

I'm not expert in Bitcoin, but perhaps you could help explain a simple problem.

Bitcoin is supposed to be decentralized. So can bitcoin be used in small networks of say.. 5 - 10 machines? Would it not be possible to 'replicate' the bitcoin and spend it both on the private 5-10 machine network and the wider 'internet' network?

The problem I have with Bitcoin is the CLAIM that is completely decentralized where I fail to see how it can be decentralized while also being able to prevent theft/replication of coins in smaller networks.

 

[lrc]

 

[HostHK]

If that facepalm is for me, I would invite you to actually answer the question posed.

 

[coolsam]

Bitcoin is not user friendly. Besides since the shutdown of LR, perfect money and webmoney are getting very famous. In fact perfect money is just like LR the username in USD currency starts with U.

 

[romeo143]

bitcoin next lead