2012-11-16 forbes.com - What's Your Bitcoin Strategy?

[Akka]

At first, congratulations to Stephen Gornick to be quoted on forbes:

As one bitcoin forum member articulated, merchants will increasingly be asked: “What’s your Bitcoin strategy?”

Decent Article about Wordpress accepting Bitcoin.

What I especially like are this commends:

I awoke to incredible news this morning. Leading web publishing service WordPress.com announced that they will begin accepting the nonpolitical cryptographic money Bitcoin as a payment method for various upgrades.

Then I remembered that WordPress is our online publishing platform.

As the bitcoin juggernaut continues to roll forward absorbing merchants and customers globally it leaves archaic and unsuspecting payment methods in its wake.

Full article: http://www.forbes.com/sites/jonmatonis/2012/11/16/whats-your-bitcoin-strategy-wordpress-now-accepts-bitcoin-across-the-planet/

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[novusordo]

The block halving is coming up, Wordpress and possibly Reddit are going to accept BTC as payment... things are about to get more interesting.

[SysRun]

Companies more and more should be asking themselves "What's your bitcoin strategy?"

Ok, I saved you from having to read the article. You're welcome.

[grondilu]

Funny thing is that this question is actually pertinent.  There are several very different ways in which a website can deal with bitcoins.

- not dealing at all.  No single mention of bitcoin, and everything priced in national currency ;
- pricing in national currency, but a link provides means to pay in bitcoins, with the price being calculated from real time exchange markets, and bitcoins instantanously turned into national currency, possibly with the help of a third party like bitpay ;
- double pricing, customers can pay in the currency they want.  The website receives and stores bitcoins ;
- bitcoin pricing only, customers must manage to get some bitcoins on their own (like with Silk Roard or some poker sites).

A more serious analysis of the different possibilities would be usefull, I think.

[DeathAndTaxes]

I am fine with all 4 of those but there is a 5th option.

Actively engage in disinformation and lobbying to ensure your existing methods remain viable and your Bitcoin accepting competitors take a financial hit.

[TraderTimm]

Companies more and more should be asking themselves "What's your bitcoin strategy?"

Ok, I saved you from having to read the article. You're welcome.

Did you have a purpose behind posting this? Matonis writes some of the best bitcoin articles around. I didn't find your comment quite as enlightening.

[matonis]

Funny thing is that this question is actually pertinent.  There are several very different ways in which a website can deal with bitcoins.

- not dealing at all.  No single mention of bitcoin, and everything priced in national currency ;
- pricing in national currency, but a link provides means to pay in bitcoins, with the price being calculated from real time exchange markets, and bitcoins instantanously turned into national currency, possibly with the help of a third party like bitpay ;
- double pricing, customers can pay in the currency they want.  The website receives and stores bitcoins ;
- bitcoin pricing only, customers must manage to get some bitcoins on their own (like with Silk Roard or some poker sites).

A more serious analysis of the different possibilities would be usefull, I think.

Very true, grondilu. Companies are starting to ask these questions now. When viable hedging solutions become available, savvy merchants will most likely opt for choice 4 and retain bitcoin balances.

[TangibleCryptography]

Hey matonis since your in thread.   Thanks for all the well written and insightful articles.  Sometimes the hardcore users forget how VALUABLE having someone writing for a more mainstream (aka "Bitcoin 101 for non-crypto nerds") point of view really is.  The whole community should be thankful.

Building mindshare one article at a time. 

[jwzguy]

Hey matonis since your in thread.   Thanks for all the well written and insightful articles.  Sometimes the hardcore users forget how VALUABLE having someone writing for a more mainstream (aka "Bitcoin 101 for non-crypto nerds") point of view really is.  The whole community should be thankful.

Building mindshare one article at a time. 

+1million