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Your opinion needed - Bitcoins as payment method?

Discussion in 'BlackHat Lounge' started by MMJason, Mar 1, 2017.

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  1. MMJason

    MMJason Junior Member

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    So how popular is bitcoin nowadays? I am not so versed with this whole cryptocurrency thing..

    Is it a good alternative to paypal? is it safe and secure?

    Do buyers and sellers on here use bitcoins as a payment method additionally to paypal?
     
  2. ZlatanTheGod

    ZlatanTheGod Jr. VIP Jr. VIP

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    Depends on your service/product. For what will they pay?
     
  3. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    If you're able to maintain your supply chain via bitcoin, then it's the best payment option. Zero fees, 100% secure.

    But it depends on whether you'll be able to cash the BTC in the end for your benefit and pay your suppliers using BTC. If you can, then BTC is the best thing since sliced bread.
     
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  4. AustinNash5

    AustinNash5 Jr. VIP Jr. VIP

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    Absolutely safe, 100% Secure.

    It is designed to be de-centralized.

    I use BTC every day and absolutely love it.

    Also, prices for BTC are at an all time high. And will only continue to sky rocket.
     
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  5. MMJason

    MMJason Junior Member

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    I don't have any service, I was just asking. The reason for it is that one of my acc sellers is switching completely to bitcoin now and I am a greenhorn when it comes to bitcoin

    Zero fees and 100% secure sounds fantastic, really!

    And I guess it's possible to cash bitcoins out to my own paypal or something, right?
     
  6. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    That's the hard part you need to figure out. How to cash BTC. Paypal does not allow cryptos officially and if you do you gotta take as a gift or something. That's why I said you gotta figure out how to make your whole chain of operations work with BTC, from supply to cashing out. There are ATMs for BTC in some areas. You'll need to do some research for your own specific case.
     
  7. MMJason

    MMJason Junior Member

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    Lool I didn't know that it's not allowed to cash bitcoins out wtf

    Why would someone use bitcoins then when cashing out is so difficult hmm

    What are the official ways to convert bitcoins back to the normal currency? Is it possible to transfer the money to a bank account then?
     
  8. Reaver

    Reaver Jr. VIP Jr. VIP

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    Yes.
     
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  9. MMJason

    MMJason Junior Member

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    Sounds good so far. But bitcoin is not like paypal, right? There are different services and sites that give you bitcoins in exchange for dollars/euros/real currency, correct?

    And there are different services that handle bitcoins differently such as one service will pay you out to your bank account, and another service pays you out in yet another way etc.?
     
  10. Mr Go Figure

    Mr Go Figure Junior Member Premium Member

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    I have been using bitcoins since 3 years, it is not as big as paypal, but its not a bad way to pay for things anonymously
     
  11. AustinNash5

    AustinNash5 Jr. VIP Jr. VIP

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    Coinbase makes it pretty easy..
     
  12. LukaB

    LukaB Jr. VIP Jr. VIP

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    Absolutely. We'll soon be implementing Bitcoin as an option on our service. BTC has no fees and it continues to grow. People will use it if you put it as a payment option.

    Received a $1,300 payment from a client in BTC months ago and is now worth $2,300.

    The huge benefit is that it will continue to grow and in my opinion, will reach $2k+ by the end of the year. So just think of it as an investment :)

    Almost a 25% Increase/ROI for the past 30 days alone, and a 10% in the past week alone.

    [​IMG]

    Luka
     
    Last edited: Mar 2, 2017
  13. eaglehunter

    eaglehunter Jr. VIP Jr. VIP

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    i wouldnt say cashing out BTC is very hard if you are earning it legally. You can literally exchange it to anything, paypal, debit card, bank transfer, Gift cards
    Again, its very easy if you're earning the BTC legally and you are a legit person with a valid ID
     
  14. Turkhero

    Turkhero Newbie

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    Coinbase is great
     
  15. MMJason

    MMJason Junior Member

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    Yeah legally of course but I am not really fond of the idea of showing my ID online to somebody, I thought it was all anonymous and stuff :D

    @LukaB Sounds dope man! Congratz for the doubled money :D And also awesome to hear that BHW will soon be accepting bitcoins :)
     
  16. stars153

    stars153 Newbie

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    nice post bro
     
  17. CenTex Hosting

    CenTex Hosting Jr. VIP Jr. VIP

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    We have taken bitcoin now for almost a year. We have not had any issue with it. Cant really say we have seen a major increase in sales because of it. But we do get orders. Can't say that we would have lost the orders because we don't take it.

    The way I look at it is it really doesn't cost you anything to set it up so why not offer it.
     
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  18. jp_smith86

    jp_smith86 Jr. VIP Jr. VIP

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    Bitcoins is Gold nowadays. I knew its going to increase an year ago and i purchased $7.5k worth of btc 6 months back when it was $600-$700 per btc and now its almost double. Pure Profit. :)
     
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  19. Phunky

    Phunky Regular Member

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    Bitcoin is very intriguing and as of today 1 bitcoin is literally worth more than 1oz of gold. It's a strong currency, and accepting BTC payments is a great way to stockpile it so it can age. Mining is way too expensive, and buying it outright is going to cost you a lot so that's likely why your guy wants to use it as his only payment. Sure, it can rise and fall but it's been pretty strong so there are plenty of people who will risk it.
     
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  20. darK_knight3141

    darK_knight3141 Newbie

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    I have been accepting bitcoin on my stores without any problems. Using blockonomics payment gateway