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Bitcoins are a great way to monetize your site.

Discussion in 'Making Money' started by gcgipson, Jun 2, 2013.

  1. gcgipson

    gcgipson Junior Member

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    I was skeptical of bitcoins for a while, but recently I decided to convert all my up coming sites to bitcoin.

    There are definitely shortcomings, but the benefits out weight the shortcomings.

    The benefits are:

    1. Accept payments from anyone in the world.

    2. No chargebacks.

    3. Hundreds of thousands of bitcoin owners eager to do something with their bitcoins.

    4. No middle men like PayPal to shut down your operations just because they think you
    might be a risk.

    5. Payments are received in under an hour.

    6. No expensive payment processing fees.

    The technology is young, but it's really going to revolutionize internet commerce.
     
    • Thanks Thanks x 3
  2. technics_1200

    technics_1200 Newbie

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    Interesting... so you're exclusively accepting payment in Bitcoins on your website? Do you think your losing sales or you haven't noticed anything yet?
     
  3. Sam Woods

    Sam Woods Junior Member

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    I think it's a good idea if you're adding to a Paypal/CC option, but I think like technics 1200 said - you might loose sales if you did this exclusively, Bitcoin isn't big enough to be a sole payment type yet imo.
     
  4. imperial444

    imperial444 Elite Member

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    BitCoins is the Beast. It's a future. Especially with all those LR stuff going on right now. Best alternative at the present.
     
  5. Panther28

    Panther28 Elite Member

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    How many customers are actually paying with bitcoin, vs paypal on your sites?
     
  6. everythingred

    everythingred Jr. VIP Jr. VIP Premium Member

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    I wouldn't do it exclusively but definitely offer it as an option.
     
  7. BIGBIGBIGMamas

    BIGBIGBIGMamas Power Member

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    So how do you actually accept bitcoins?
     
  8. PizzaPill

    PizzaPill Newbie

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    I know wrapbootstrap,com is using bitpay,com.
     
  9. Invoker

    Invoker Regular Member

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    I THINK ABing the site with bitcoin/paypal would bring everyone some fun statistics :p
     
  10. asiavirtualsolution

    asiavirtualsolution Junior Member

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    content creation, content spinning, and other virtual services with bitcoin as option - asiavirtualsolutions d o t c o m

    Using woocommerce with bitcoin extension
     
  11. LakeForest

    LakeForest Supreme Member

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    LR is in trouble because of facilitating bad business (read: criminal business).

    Are we really to believe that BitCoin, which is pretty much the face for this stuff, won't also be investigated?
     
  12. lancis

    lancis Elite Member

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    IMHO trying to block the main exchanges will only make Bitcoin's value higher.

    I believe at the moment its a good time to enter as a merchant, because the value of Bitcoin is pretty stable. Plus, you dont risk anything if you use bitpay - they charge in BTC equivallent of USD and transfer those USD directly to your bank account.

    I dont use them, because IMHO having bitcoins is better investment than having USD on the long run.
     
  13. Mr.Whitehat

    Mr.Whitehat Senior Member

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    Bitcoin isnt that much popular perhaps maybe a bunch of ones using it for trading and profit oriented things. The normal buyer/user always prefer paypal/cc or even wire.
     
  14. gcgipson

    gcgipson Junior Member

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    The sites haven't started yet. For me, its an easy decision because my businesses rely on payment rapid distribution. I will reveal this in detail within about 30 - 60 days here on Black Hat World.
     
  15. gcgipson

    gcgipson Junior Member

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    Paypal would never allow my business, not to mention that they banned me a long time ago for the dumbest shit. In fact, most credit card processors don't allow my business, which is a dating offer. I do understand what you're saying, but I guess I am one of those new tech fanatics. I wont pretend that my decision is purely logical, it just mostly is.
     
  16. gcgipson

    gcgipson Junior Member

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    Yes! To really see what is going on here, one has to actually try bitcoin first. That is what happened with me. I was skeptical, and then I decided to buy bitcoins and transfer money to my own wallet. Once I did this, I slowly realized how powerful bitcoin is.
     
  17. gcgipson

    gcgipson Junior Member

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    Right now my sites are not up. One doesn't get into bitcoin just to accept the most payments right now, one does it to establish a brand in bitcoin. This is really all about establishing a beachhead with a breakthrough technology. People who deal in bitcoin are expecting the technology to grow. Also, keep in mind that the value of bitcoin will rise against the dollar, so the bitcoins you earn today will probably be worth 4x that in the future.
     
  18. SkyrocketSEO

    SkyrocketSEO Jr. VIP Jr. VIP Premium Member

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    And how do you know that?
     
  19. GreyCatXYZ

    GreyCatXYZ Newbie

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    Lets see how long BitCoin, LiteCoin etc. are going to survive, before the U.S. Government decides to shut it down or tries to regulate the market somehow.

    Of course a lot of normal people use BitCoins etc. for legit purposes, but the biggest part, by far, is used for illegal drug, weapon and pedophilia trades on networks like Freenet or the Onion network (TOR)

    Its hard to believe that there isn't going to be some kind of regulation coming in the future.
     
  20. gcgipson

    gcgipson Junior Member

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    This is going to change simply because the global internet economy demands it. If I want to pay a guy in Pakistan, I shouldn't have to go through a bunch of hoops and pay outrageous fees to do so. Also, when you deal in PayPal and CC you're not your own boss, you actually work for PayPal & CC. Sounds silly, but think about it. If PayPal decided to ban all your business from their services, for whatever reason, they could do it without any repercussions, without any worries. They do this all the time. As for CC, it's much the same way. With CC, you can't even do a cash back reward program between you and your customers, simply because CC says you can't....and yet CC does cash back rewards with their customers all the time. With bitcoin none of this is a worry, because the payments are not distributed by a central body, there is no middle man, nor are the payments reversible.

    By the end of the summer I will reveal some bitcoin business models that you could never do with PayPal or any CC payment system. In fact, two of my new sites coming out are strictly Affiliate driven. Those who sign up as an Affiliate will have INSTANT bitcoin payments sent to their bitcoin wallets. There will be no 30 day waiting period are charge back issues with my Affiliate payments. I'll keep everyone posted, I'm just waiting for my programmer to finish with my sites.