Bitcoin Option

[Zelda]

Not sure if this has been suggested before but I think a Bitcoin option should be added for purchasing name colors, ranks, upgrades, etc. A lot of people including me have limited paypals due to the new Paypal update and are not able to buy stuff on here for ourselves or others.

 

[User]

i mean this'll probably get denied for some reason or another but yeah this would be a good idea considering how many people trade in bitcoin because of the chargeback issues/limited paypals

 

[Note]

Not sure if this has been suggested before but I think a Bitcoin option should be added for purchasing name colors, ranks, upgrades, etc. A lot of people including me have limited paypals due to the new Paypal update and are not able to buy stuff on here for ourselves or others.

Given the fluctuating value of bitcoins I feel it won't be added.

 

[user01]

just accept USDT coin instead lol

 

[Overlord]

Given the fluctuating value of bitcoins I feel it won't be added.

The amount can be converted to fiat immediately. Automatically if you use something like Bitpay. That eliminates any fluctuation/price risk. Transaction fees overall (incl conversion and withdrawal) are still cheaper than accepting PayPal.

Just depends if it'd be worth accepting Bitcoin. Specifically, is there a good number of people that could afford upgrades/stickies/etc., but do not have access to PayPal, and do have access to Bitcoin.

 

[GNCB]

There are no refund's in bitcoin, so if someone want's a refund and comply's to mc-market it's impossible, cuz you have to pay fee's by yourself each time you trade with bitcoin, at most you would refund 99% back via a payment.

lul if it's only mc-market then it may be alright, but for resources it would be tricky.

 

[Zelda]

There are no refund's in bitcoin, so if someone want's a refund and comply's to mc-market it's impossible, cuz you have to pay fee's by yourself each time you trade with bitcoin, at most you would refund 99% back via a payment.

lul if it's only mc-market then it may be alright, but for resources it would be tricky.

mcm doesnt give refunds anyways

 

[GNCB]

mcm doesnt give refunds anyways

the law say's otherwise, even if someone doesn't give refund's, it doesn't mean that someone cannot get refunded forcefully, in bitcoin you cannot get refunded forcefully.

 

[Overlord]

There are no refund's in bitcoin, so if someone want's a refund and comply's to mc-market it's impossible, cuz you have to pay fee's by yourself each time you trade with bitcoin, at most you would refund 99% back via a payment.

lul if it's only mc-market then it may be alright, but for resources it would be tricky.

PayPal charges a fee for refunds anyway. See: https://www.paypal.com/uk/smarthelp/article/common-questions-about-issuing-refunds-faq3214

If you refund a payment, we’ll retain the fixed portion of the fee you were charged when you received the payment. We’re not charging a fee for the refund, but simply retaining the fee, which has already been collected from your PayPal account.

Merchants pay 30c per refunded transaction, essentially. Merchants also pay a 20 GBP/EUR/USD fee for chargebacks. Since Bitcoin doesn't have chargebacks, that risk is also eliminated.

The same would apply with Bitcoin. You could simply return the lower of the original Bitcoin value, or the current Bitcoin amount of the USD value. The merchant would have to pay a small fee (the Bitcoin transaction fee) on top for the refund, if the refund is required by law. That fee is currently (approximately) the equivalent of $0.15. Refunds via Bitcoin are cheaper than refunds via PayPal. If the refund is not required by law, the merchant could pass that Bitcoin transaction fee onto the customer.

Besides, the business logistics of accepting Bitcoin are the concern of the site. It's pretty pointless for people to debate the legality of accepting Bitcoin, since pretty much none of you are lawyers or really know what you're talking about. Let the site owners worry about the legal and fiscal issues with accepting Bitcoin.

mcm doesnt give refunds anyways

He is somewhat right on that point. MCM, like any other business, is theoretically obligated, by law, to give refunds in certain cases. In practice, since the goods/services are immediately consumed, the right to refund is often actually immediately waived if certain procedures are correctly followed.

As a general point, and not so much related to this thread or MCM, I don't think some people here realise that the real world isn't Minecraft. You cannot just write some terms and think they are binding and final. The law overrules any terms you set.

 

[GNCB]

PayPal charges a fee for refunds anyway. See: https://www.paypal.com/uk/smarthelp/article/common-questions-about-issuing-refunds-faq3214

Merchants pay 30c per refunded transaction, essentially. Merchants also pay a 20 GBP/EUR/USD fee for chargebacks. Since Bitcoin doesn't have chargebacks, that risk is also eliminated.

The same would apply with Bitcoin. You could simply return the lower of the original Bitcoin value, or the current Bitcoin amount of the USD value. The merchant would have to pay a small fee (the Bitcoin transaction fee) on top for the refund, if the refund is required by law. That fee is currently (approximately) the equivalent of $0.15. Refunds via Bitcoin are cheaper than refunds via PayPal. If the refund is not required by law, the merchant could pass that Bitcoin transaction fee onto the customer.

Besides, the business logistics of accepting Bitcoin are the concern of the site. It's pretty pointless for people to debate the legality of accepting Bitcoin, since pretty much none of you are lawyers or really know what you're talking about. Let the site owners worry about the legal and fiscal issues with accepting Bitcoin.


He is somewhat right on that point. MCM, like any other business, is theoretically obligated, by law, to give refunds in certain cases. In practice, since the goods/services are immediately consumed, the right to refund is often actually immediately waived if certain procedures are correctly followed.

As a general point, and not so much related to this thread or MCM, I don't think some people here realise that the real world isn't Minecraft. You cannot just write some terms and think they are binding and final. The law overrules any terms you set.

I don't known whose fee's are you talking about.

The $20/gbp/usd/eur they charge you is due to chargeback's, you don't have to pay them if you refund instead of disputing the chargeback.
and about that 0.30cent fee, for refunding, i don't remember something like that applying when i had a paypal, shouldn't that apply to the one getting refunded rather than the one that refunds?tsk.

you got thing's wrong, the real world doesn't care about man-made laws, a bank will still issue a chargeback regardless of how many pretty words and terms you builded, and paypal will still refund in 95%+ of the cases, whether you are in the right or wrong, but there are rare cases when paypal believe's "you are right" and pay's both the bank and you with his money but that only work's with the first's chargeback's.

right and wrong are only for show, if you want to prevent your money getting stolen from paypal with chargebacks, you have to show your "strength" a.k.a, doing thing's right, and validating your paypal account with everything that they could ask you (i.e business paper's, identity paper's, residence, contact etc.), showing that you provided the goods, the same as other's received goods.

And then, paypal will not refund money to poor/small bank's, but it will still refund money to big banks in 90% of the cases.

 

[Mick]

I have no intentions of introducing Bitcoin as a paypal method for MC-Market in the future.

Sorry about that. Denied, thanks for the suggestion.