Controversial Backpage.com Warmly Welcomes Bitcoin

[cpapazian]

This is a piece of news which it appears that Bitcoin transactions are being accepted when major credit card companies like Visa and Mastercard are distancing themselves.  Apparently  Backpage.com which sort of looks and functions like Craigslist is accepting Bitcoin, but because the website is notorious for adult services, it could create a negative stigma for the digital currency. I would like to see, as would many of you, Bitcoin thrive in the mainstream.  Every new company or entity that accepts it can be thought of as a win, but what of the long term ramifications of reputation if Bitcoin goes where others don't?

The article is http://www.moneysedge.com/newsimage?id=144

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[LiteCoinGuy]

you should post that in the press-section

[jeannemadrigal2]

I don't think it matters very much.  For the banks and other main stream entities, btc has been demystified.  I never understand why it is a problem when someone uses bitcoins for illegal activities.  If you have a dollar in your pocket that is older than a year, chances are good that it has been in the hands of a criminal of some kind.  So why all of a sudden does it make a difference for bitcoins and not dollars?  The whole thing is just silly.  No matter what there will always be a black market, and you can pay in cash just as easily as btc.  Plus imo cash is more "anonymous".

[scarsbergholden]

The monthy revenue ads from backpage is just great, with a 2 million usd dollars a month this could bring a good bump in bitcoin buys from the ad buyers

i have never used backpage before but looking at how money it makes is a wow factor.

[MF Doom]

of course they are welcoming btc, they are the silkroad equivalent of craigslist!

[AT101ET]

I've never heard of backpage.com but I'm assuming this is big news.
Any site or company that decides to accept BTC is beneficial for the community. However, having read some comment above that claim it's the silkroad equivalent of Craigslist, you're going to get many more sceptics associating Bitcoin with crime and grey area goods.
I think the companies that will have a big affect on the price of BTC when they begin accepting Bitcoin include; Apple, Amazon, Walmart, Netflix and various other TNCs. It's important that it's an international establishment and not something unique to one country.

[scarsbergholden]

I've never heard of backpage.com but I'm assuming this is big news.
Any site or company that decides to accept BTC is beneficial for the community. However, having read some comment above that claim it's the silkroad equivalent of Craigslist, you're going to get many more sceptics associating Bitcoin with crime and grey area goods.
I think the companies that will have a big affect on the price of BTC when they begin accepting Bitcoin include; Apple, Amazon, Walmart, Netflix and various other TNCs. It's important that it's an international establishment and not something unique to one country.

I get the view on a more of a international level adoption, but not every country has the same amount of population, so most likely the most populated countries will strike forward on media coverage has big companies adopt bitcoin just because of their user base.

[pumawolf]

this is a big deal going forward, it  proves the banks and cc companys   is merely one of the options avialiable, it is not necessary  .

[runpaint]

Now that whores accept it, it will be recognized as real money.  Most people just use money for impressing women, one way or another, so it's up to women to decide whether Bitcoin gets them in the mood.

[pooya87]

I don't think it matters very much.  For the banks and other main stream entities, btc has been demystified.  I never understand why it is a problem when someone uses bitcoins for illegal activities.  If you have a dollar in your pocket that is older than a year, chances are good that it has been in the hands of a criminal of some kind.  So why all of a sudden does it make a difference for bitcoins and not dollars?  The whole thing is just silly.  No matter what there will always be a black market, and you can pay in cash just as easily as btc.  Plus imo cash is more "anonymous".

the concern about the illegal activities is somewhat understandable because it is way more easier to track these activities when fiat is involved rather than an anonymous digital currency.
i mean tracking bitcoin transactions can be so hard and nearly impossible to track.
but unfortunately the media (at least not recently) has always portrayed bitcoin with a bad face and associated it with criminals . which i think will pass over time and people will realize its true value.

[Amph]

the question is, can they maintain the same profit with bitcoin only, as accepted payment in comparison with their old visa mastercard?

if this prove to be true than bitcoin will be adopted more from other company that are looking for a real alternative otherwise you can't really talk about a successful

[Swordsoffreedom]

The monthy revenue ads from backpage is just great, with a 2 million usd dollars a month this could bring a good bump in bitcoin buys from the ad buyers

i have never used backpage before but looking at how money it makes is a wow factor.

Well interestingly enough I never heard of this site myself but it seems to cover my area
I'll have to give it a lookover myself since it actually gained attention for doing this another place to spend Bitcoin is nice
Plus it seems to update daily always nice to see that but the controversy itself is a bit concerning as it seems to be under feminist attack.

http://www.straight.com/news/488836/sarah-leamon-visa-and-mastercard-arent-helping-sex-workers-backpage-ban

That said it looks like the market potential is a few hundred mill
http://insidebitcoins.com/news/backpage-accepts-bitcoin-as-visa-mastercard-set-embargos/33625

Backpage says “screw off” to squeamish credit card companies Visa and MasterCard by dropping fees for adult ads and announcing that it is going to accept all digital currencies like Bitcoin, Litecoin, and Dogecoin. Some estimates say Backpage’s acceptance could open up a $100m (£64m) opportunity for Bitcoin, since it is one of the site’s only remaining payment options.

Ponders wait doesn't that imply that the prostitutes are active Bitcoin users Adoption get (Sorry ha-ha its a bit of humor and proves women do use it to post ads XD)

[bornil267645]

I don't know why Backpage has adopted BTC but I sure hope it's for good cause. We need all the support we can get to keep this community alive.

[Kprawn]

Backpage is much smaller than Craigslist.. it only receives about 3 million views daily....

The point you are making is valid, and also something I was worried about. Do we provide the alternative, when other companies withdraw their support based on ethical reasons?

Backpage has had some problems with it's association with Child / human trafficking. They have included links under their ToS to organizations who fights that battle.

Now VISA and MasterCard pull their support, and we ride in with the white horse to save them?

I know there are loads of other legitimate business running on the same site, and it's our duty to support them... but how would you know, if you are supporting one of them?

We already have a bad reputation {Silkroad} ... Do we need more bad press?  

[runpaint]

Well we can't really stop them.  That's kind of the point of Bitcoin.

[spazzdla]

the question is, can they maintain the same profit with bitcoin only, as accepted payment in comparison with their old visa mastercard?

if this prove to be true than bitcoin will be adopted more from other company that are looking for a real alternative otherwise you can't really talk about a successful

Indeed, if they can keep up the same profits... oh ya

[spazzdla]

Backpage is much smaller than Craigslist.. it only receives about 3 million views daily....

The point you are making is valid, and also something I was worried about. Do we provide the alternative, when other companies withdraw their support based on ethical reasons?

Backpage has had some problems with it's association with Child / human trafficking. They have included links under their ToS to organizations who fights that battle.

Now VISA and MasterCard pull their support, and we ride in with the white horse to save them?

I know there are loads of other legitimate business running on the same site, and it's our duty to support them... but how would you know, if you are supporting one of them?

We already have a bad reputation {Silkroad} ... Do we need more bad press?  

I think it's good press, but that's the great thing about bitcoin,

It doesn't give a single flying fuck what you or I "think" it "should only be used for" not one single fuck was given.

[peligro]

the question is, can they maintain the same profit with bitcoin only, as accepted payment in comparison with their old visa mastercard?

if this prove to be true than bitcoin will be adopted more from other company that are looking for a real alternative otherwise you can't really talk about a successful

I think it doesn't matter if they will have the same profit as before because they did not have a chance at all to go another route. They were blocked from other payment services so the only solution for them were cryptocoins.

But it surely will be interesting to watch their profit. It might show how adoption moves. Though bitcoiners, who now will use the site, might change the results.

[peligro]

I don't know why Backpage has adopted BTC but I sure hope it's for good cause. We need all the support we can get to keep this community alive.

They did not have a choice. The big credit card companies, and other payment services, decided that the content of that website, sex is offered, is not matching their image. So they closed their accounts or stopped them otherwise from using them. Backpage.com had to find a solution and they were cryptocurrencies.

[MJK]

This is a piece of news which it appears that Bitcoin transactions are being accepted when major credit card companies like Visa and Mastercard are distancing themselves.  Apparently  Backpage.com which sort of looks and functions like Craigslist is accepting Bitcoin, but because the website is notorious for adult services, it could create a negative stigma for the digital currency.

It's not going to create negative stigma. This is one of the great uses of bitcoin and gives companies the freedom to accept money for services regardless of what the moral police at the banks or credit companies think.