Bitcoin as a payment option

[Hubert]

Over the past couple of years cryptocurrency has become more and more popular. My proposal is that a popular cryptocurrency like “Bitcoin” is used as a payment option. Using cryptocurrency would also prevent chargebacks and Bitcoin is predicted to always increase, so why not? Let me know your thoughts.

 

[Endowed]

I dislike dealing with Bitcoin for the simple fact that there is 0 purchase protection. You could get into the fact that it is extremely volatile, etc.
But I have never considered utilizing it as a payment option for the simple fact stated above.

 

[Darl]

I like both BTC and PayPal but BTC should be added as a payment form in my eyes.

 

[babaooo]

things change over time, like 5 years ago skype was the main form of communication on mcm and paypal was a common payment method. now its discord, and most mc accounts and a vast majority of services accept bitcoin (sometimes as a sole method) because of how reliable it is, unlike stupid paypal. so +1 from me.

 

[manhattan]

I'm a fan of BTC as a payment option

 

[sebhobbit]

Same

 

[Sky.]

i mean, it doesn't hurt.
Like, if your purchasing with bitcoin its at your own risk. Refunds via bitcoin will not be given.

 

[jayt387]

it certainly should be considered as a suggestion for the future.

 

[Jackson L]

I support the idea of Bitcoin/Ethereum upgrades not least because I hold them as primary assests, but also because they are commonly used and they are, I hate to repeat commonly used phrases, but they are the future. Crypto-currency adoption is on the rise, and the younger generation, gen-z, has grown up with crypto--currency. You can make all the arguments you want about instability, but the fact is, it's being adopted and it's being used. Why? Because people feel like they have less privacy, and they want freedom. I'm not sure about you, but my PayPal is permenantly limited. I still haven't managed to get my funds out, even after 3+ years. With Bitcoin, all I need to worry about is, well, nothing. I've never been hacked, or phished. I keep my coins secure, and it's super easy to transact.

Having said all that, I completely understand what the -1ers are saying. Bitcoin carries significant negative connotations, and had I not gained it as a passive income stream, I would've never purchased it myself. It's just too much hassle for me, however with the rise of CashApp in the USA, it's actually relatively easy. Bitcoin is volatile, but then again, it's a very new currency, and I believe it's basically a speculative asset. It doesn't hold value, except for the fact it's BitCoin. It was the 'og'. If you cast your eyes to BitCoin Gold, and BitCoin Diamond, completely unrelated projects, made by different unrelated people, with almost no innovation (except larger block space wihch means faster transactions), they have pumps, sometimes 10 percent in a day. Why? I don't see any value, in fact, I think they're terrible, yet people buy it. This demonstrates the 'inherent value' of BitCoin. The same goes for DogeCoin, it captured a large audience, grew to a sizeable market cap, and it was literally created to mock altcoins. It was made to be a joke, yet it has a 500 million $ market cap. I mean, this coin doesn't have a limit in supply, it even was the centre of a TikTok pump and dump where some foolish kids put money in to it, hoping for a 300x increase. What does this mean? Well, it means people are ignorant. It means people are foolish. But it also means people see value in this. I agree that a bunch of whales can organise a coordinated dump and drive the price of BitCoin below $100. I agree that BitCoin is highly volatile, compared to traditional assets. I agree that BitCoin has no value, except the argued value of the hardware behind the mining of each BitCoin, if you perceive that to be valueable. However, the fact is, people still will pay $12k, or whatever it was, for a full BitCoin. You ain't gonna be getting free BitCoins in the street, are you? The number one argument I see against crypto-currency adoption is the negative connotations it has. BitCoin is commonly associated with fraud and crime. Also, I believe to a certain extent, up until this point, Mick hasn't seen the need for BitCoin payments as this community does largely use PayPal.

I still view BitCoin as a store of wealth and an easy way to anonymously (fairly anonymously) transact my funds easily and without restrictions. I agree, it is volatile, but in all honesty, I don't view it as an investment. To be honest, I'd feel similar about holding Dai, if we weren't in this 'bull market' with lots of 'hype' over crypto. Yes, it is volatile, there have been more 30%+ crashes than I can count on all my fingers and toes probably. Even in June, a 5% crash knocked off 10 billion of market cap. And that's 5%. But in all honesty, I never really cared. BitCoin's price moves, and if you really want to solve the stability problem, use a stable-coin like Dai, USDC, USDT, or Ampleforth (don't call it a stable coin though).

A lot of people will think I'm biased because I hold BitCoin, but in my opinion, I think I'm one of the most objective crypto holders out there. I personally don't believe it's possible for BitCoin to ever reach $1 million, or anywhere close to that number. I view every person who says 'BitCoin to X by XXXX' as a fool, an idiot, and somebody you should completely ignore. They're worthless scum, and they ruin the face of cryptos. They artificially affect the price of cryptos through a mixture of blind hope and greed. For one, BitCoin's network will hardly be able to handle a price above $20,000. But I feel like I've already been rambling for too long to an unintrested group of people. If anybody wants to discuss cryptos with me, open a conversation or a thread. We can have some fun.

In short:
BitCoin is volatile, but I think it's negligible factor. If you are seriously concerned, accept a stablecoin instead. (if you trust the USD :/)
BitCoin and Crypto-currency adoption is on the rise and many more people will hold it, and use it.
PayPal ain't all it's cut out to be. Lots of people hate it, and lots of people don't use it. (though I can't speak for this community)

I'd suggest this is a good way for Mick to aquire a bit of exposure to the crypto space, however I can imagine it would take some effort to set up an automatic payment system, though I believe XenForo has it implemented as I've seen auto crypto upgrades before.

 

[Hubert]

I support the idea of Bitcoin/Ethereum upgrades not least because I hold them as primary assests, but also because they are commonly used and they are, I hate to repeat commonly used phrases, but they are the future. Crypto-currency adoption is on the rise, and the younger generation, gen-z, has grown up with crypto--currency. You can make all the arguments you want about instability, but the fact is, it's being adopted and it's being used. Why? Because people feel like they have less privacy, and they want freedom. I'm not sure about you, but my PayPal is permenantly limited. I still haven't managed to get my funds out, even after 3+ years. With Bitcoin, all I need to worry about is, well, nothing. I've never been hacked, or phished. I keep my coins secure, and it's super easy to transact.

Having said all that, I completely understand what the -1ers are saying. Bitcoin carries significant negative connotations, and had I not gained it as a passive income stream, I would've never purchased it myself. It's just too much hassle for me, however with the rise of CashApp in the USA, it's actually relatively easy. Bitcoin is volatile, but then again, it's a very new currency, and I believe it's basically a speculative asset. It doesn't hold value, except for the fact it's BitCoin. It was the 'og'. If you cast your eyes to BitCoin Gold, and BitCoin Diamond, completely unrelated projects, made by different unrelated people, with almost no innovation (except larger block space wihch means faster transactions), they have pumps, sometimes 10 percent in a day. Why? I don't see any value, in fact, I think they're terrible, yet people buy it. This demonstrates the 'inherent value' of BitCoin. The same goes for DogeCoin, it captured a large audience, grew to a sizeable market cap, and it was literally created to mock altcoins. It was made to be a joke, yet it has a 500 million $ market cap. I mean, this coin doesn't have a limit in supply, it even was the centre of a TikTok pump and dump where some foolish kids put money in to it, hoping for a 300x increase. What does this mean? Well, it means people are ignorant. It means people are foolish. But it also means people see value in this. I agree that a bunch of whales can organise a coordinated dump and drive the price of BitCoin below $100. I agree that BitCoin is highly volatile, compared to traditional assets. I agree that BitCoin has no value, except the argued value of the hardware behind the mining of each BitCoin, if you perceive that to be valueable. However, the fact is, people still will pay $12k, or whatever it was, for a full BitCoin. You ain't gonna be getting free BitCoins in the street, are you? The number one argument I see against crypto-currency adoption is the negative connotations it has. BitCoin is commonly associated with fraud and crime. Also, I believe to a certain extent, up until this point, Mick hasn't seen the need for BitCoin payments as this community does largely use PayPal.

I still view BitCoin as a store of wealth and an easy way to anonymously (fairly anonymously) transact my funds easily and without restrictions. I agree, it is volatile, but in all honesty, I don't view it as an investment. To be honest, I'd feel similar about holding Dai, if we weren't in this 'bull market' with lots of 'hype' over crypto. Yes, it is volatile, there have been more 30%+ crashes than I can count on all my fingers and toes probably. Even in June, a 5% crash knocked off 10 billion of market cap. And that's 5%. But in all honesty, I never really cared. BitCoin's price moves, and if you really want to solve the stability problem, use a stable-coin like Dai, USDC, USDT, or Ampleforth (don't call it a stable coin though).

A lot of people will think I'm biased because I hold BitCoin, but in my opinion, I think I'm one of the most objective crypto holders out there. I personally don't believe it's possible for BitCoin to ever reach $1 million, or anywhere close to that number. I view every person who says 'BitCoin to X by XXXX' as a fool, an idiot, and somebody you should completely ignore. They're worthless scum, and they ruin the face of cryptos. They artificially affect the price of cryptos through a mixture of blind hope and greed. For one, BitCoin's network will hardly be able to handle a price above $20,000. But I feel like I've already been rambling for too long to an unintrested group of people. If anybody wants to discuss cryptos with me, open a conversation or a thread. We can have some fun.

In short:
BitCoin is volatile, but I think it's negligible factor. If you are seriously concerned, accept a stablecoin instead. (if you trust the USD :/)
BitCoin and Crypto-currency adoption is on the rise and many more people will hold it, and use it.
PayPal ain't all it's cut out to be. Lots of people hate it, and lots of people don't use it. (though I can't speak for this community)

I'd suggest this is a good way for Mick to aquire a bit of exposure to the crypto space, however I can imagine it would take some effort to set up an automatic payment system, though I believe XenForo has it implemented as I've seen auto crypto upgrades before.

Well said!

 

[Mick]

This has been suggested probably about a dozen times now, and it is currently pending.

I'll move this to denied, thanks for the suggestion