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Rox

Rox

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Hey guys,

I see 99% of filehosts here offer payments via Bitcoin and some also offer payments through Altcoins (Alternative coins like Bitcoin). However, I have spoken to so many filehosts and they all admit that user adoption of Bitcoin and Altcoins is very very low right now!

This is very shocking since there are lot of benefits of using crypto coins, I will list some below:


  • Since crypto coins are traded on exchanges 24/7 the value of your holdings will also increase or decrease with fluctuation in their prices - the general trend in crypto-coins is value increasing over a period of time. Yes, there is a risk of value decreasing, but this risk is generally associated with coins which are not good. Bitcoin, Litecoin, Ethereum, Monero etc. are some real solid coins. You are literally getting free money over a period of time
  • Anonymous transactions - just download a wallet like Exodus and you are good to start sending or receiving these coins, no sign-up, no ID verification etc. is required
  • Irreversible transactions - Once a transaction is made on the blockchain and confirmed, it cannot be reversed. You don't have to worry about disputes, chargebacks etc.
  • High anonymity coins like Monero, ZCash etc. offer more protection by not showing your transactions to the world like Bitcoin. Does not mean Bitcoin transactions can easily be traced to you - it is quite difficult. But these coins are preferred by people who are paranoid about their privacy
  • Low fees - The fee to send / receive crypto-coins is generally very low compared to say PayPal! PS: The current Bitcoin fee is a bit high due to hashpower moving to Bitcoin Cash, it should be fine soon
  • Accepted by most of online sites including - Web Hosts, Domain Registrars, File Hosts, E-Commerce Websites, Freelancers etc.

So now, why is the adoption of such a great product so slow? Is there something which you feel is not good about these coins or a feature you think is missing?

I am willing to clarify and educate you all on this topic here - Strictly no PMs please.
 
17 comments
I agree with you Rox. I think people are affraid your first reason why not (They have fear to loose money). To be honest I was the same, but Webmoneys restrictions regarding my contry forced me to use btc, And it couldn't turn out better :D Now i use only btc as request payment option. Hey Rox, if you are good with Filefactory owner, please can you advise him to introduce bitcoin as a payment option? :D Thanks
 
ex-crkvice said:
I agree with you Rox. I think people are affraid your first reason why not (They have fear to loose money). To be honest I was the same, but Webmoneys restrictions regarding my contry forced me to use btc, And it couldn't turn out better :D Now i use only btc as request payment option. Hey Rox, if you are good with Filefactory owner, please can you advise him to introduce bitcoin as a payment option? :D Thanks
Click to expand...

I am glad you switched to BTC :)

Everybody start asking them and I am sure they will roll it out. What the public demands must be met, if not, you go out of business soon!
 
Luckily I rarely use btc for all filehost payment. The main reason that I mainly used btcecom for storing my money, so now I might end up losing all the money to the FBI hand lol. But I learn the lesson, do not keep all the money on just one exchange site, split them :D

One more reason, the btc fee is damn high now the confirmation is fukin slow, 4.xx$ per transaction is un-apceptable (bittrex exchange). SO I decided to use webmoney, fast and instant money in my country
 
Last edited:
Now a days bitcoin is already fucked up.
high fees,
hell lot of time for confirmation.

Volatile: This is another main downfall with crypto . Usually uploader are not who earn in hundreds per week and if price dropped they lost money too.
So they prefer to stick other e-wallet. They get exact amount what expect. payout via various way and keep focus on work.

Crypto is good for strategic investment / day trade / anonymous payment. But not so good for weekly payment, as an affiliate earning.
 
Well some hosts paid in btc amount you earn, even if you wait month for payment. Rapidgator for example, cause they count currency value on payment day (never mind if if request payment a month earlier), so ive got exact amount of my payment in btc. On other hand ul.to rip off members on btc using vouchers via bit4coin....
 
worlockt said:
Now a days bitcoin is already fucked up.
high fees,
hell lot of time for confirmation.

Volatile: This is another main downfall with crypto . Usually uploader are not who earn in hundreds per week and if price dropped they lost money too.
So they prefer to stick other e-wallet. They get exact amount what expect. payout via various way and keep focus on work.

Crypto is good for strategic investment / day trade / anonymous payment. But not so good for weekly payment, as an affiliate earning.
Click to expand...


I'm getting payments via bitcoin, since new year I earned over 25000 $$ just on bitcoin growth.
 
The main problem is most of usual users afraid of BTC, because they don't understand what is it and how it works. I think situation should be better, but it will take a lot of time, unfortunately.
 
Fear of losing money is what drives this. What they dont understand is, price of BTC has only gone up. So investments would also only go up, but not down.
 
In my country there is BTC ATM, (Buying and selling bitcoin at the ATM) so for me this is the best option. I did not have any serious problems with btc
 
If you are worried about losing money due to BTC value suddenly going down, you can just open a coinbase account and setup an auto conversion wallet. Others can send you bitcoins to that wallet address and they instantly convert into usd/eur.
I use this method and the total combined fee for the bitcoin > euro > my bank account transactions is only 1% + 0.15 eur. Compare that to paypal or webmoney which is about 5% fee total.
 
I have been using Bitcoin to buy all my steam games + pay for hosting + pay for vpn (when needed) + pay other people . Very very rarely use CC or paypal unless I really have no option. Bitcoin advantages farrr outweight it's disadvantages.
 
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