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Any plans for Bitcoin as payment method?

Post Date: 2013-12-01
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cheebamaster View Drop Down
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Posts: 134 		  Quote cheebamaster Quote  Post ReplyReply bullet Topic: Any plans for Bitcoin as payment method?
    Posted: 01 Dec 2013 at 2:55pm
Given how computer enthusiasts and gamers go to Digital Storm for their gaming PC's, I'm wondering if there's any support in the DS community to have Bitcoin as an option of payment or perhaps if DS has ever considered it.
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Ariktu View Drop Down
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Posts: 492 		  Quote Ariktu Quote  Post ReplyReply bullet Posted: 01 Dec 2013 at 8:51pm
It would seem to me to be a larger risk since they I assume they can not pay bills or employees with it.

I assume banks can not take it for deposit. I also doubt any of their vendors would take it as payment.

So what can they do with them?


Edited by Ariktu - 01 Dec 2013 at 8:51pm
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cheebamaster View Drop Down
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Posts: 134 		  Quote cheebamaster Quote  Post ReplyReply bullet Posted: 02 Dec 2013 at 4:11am
That's what Bitpay is for. BitPay will clear the payments over the bitcoin peer-to-peer payment network and post the balance to the merchant accounting ledger, according to the merchant preference settings.

Merchants can receive settlement in their local currency with a guaranteed exchange rate, or keep the bitcoins, or a percentage split.

In other words if DS wanted, they could receive payouts into their account 100% in USD or set up a system where they keep for example 50% of the Bitcoin as a way to invest.

Articles with further information: http://techcrunch.com/2013/09/16/bitpay-10000-merchants/
https://bitpay.com/faq
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Meller View Drop Down
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Posts: 1627 		  Quote Meller Quote  Post ReplyReply bullet Posted: 02 Dec 2013 at 11:49am
Yea but the value of a single bit coin fluxates.  1 bitcoin may be worth $1 today, $10 tomorrow, and $0.05 the following day.  The value of it is too risk to truly accept for a major form of payment.
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