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Author Topic: Best way to accept bitcoins for commerce  (Read 731 times)
ronjonson
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June 12, 2011, 02:26:09 PM
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I did a little digging last night through the Bitcoin Wiki and saw there are a few options for accepting bitcoins on a website. I would like to know what everyone's personal recommendations are based on first hand experience with the different available options. I have a few computer related products that I would like to sell and thought it would be cool to accept bitcoins as an option.

Thanks for your time.

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June 12, 2011, 02:42:41 PM
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Definitely a business opportunity for a company to offer turn-key solutions for accepting bitcoins.

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June 12, 2011, 03:26:59 PM
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yes, any shopping carts, plug ins, or ways for subscription services to accept bitcoin automatically?

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June 12, 2011, 04:33:22 PM
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If you plan on spending those bitcoins on other peoples goods/services then that is great.

But if you just plan on turning those bitcoins into cash again then its a bad idea for any business. The volatility is too high, you are paying upwards of 4-5% transaction fees on everything, and its not what bitcoins were originally intended for (cash->bitcoin->cash again)

The technical concerns you should note, is that you need to wait for minutes to hours for the tranasaction to be confirmed by the system.

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June 12, 2011, 04:48:56 PM
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If you plan on spending those bitcoins on other peoples goods/services then that is great.

But if you just plan on turning those bitcoins into cash again then its a bad idea for any business. The volatility is too high, you are paying upwards of 4-5% transaction fees on everything, and its not what bitcoins were originally intended for (cash->bitcoin->cash again)

The technical concerns you should note, is that you need to wait for minutes to hours for the tranasaction to be confirmed by the system.



that's why we need a bitcoin bank, or a payment tool like BTC-paypal.

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June 12, 2011, 06:30:04 PM
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If you plan on spending those bitcoins on other peoples goods/services then that is great.

But if you just plan on turning those bitcoins into cash again then its a bad idea for any business. The volatility is too high, you are paying upwards of 4-5% transaction fees on everything, and its not what bitcoins were originally intended for (cash->bitcoin->cash again)

The technical concerns you should note, is that you need to wait for minutes to hours for the tranasaction to be confirmed by the system.



that's why we need a bitcoin bank, or a payment tool like BTC-paypal.

It's coming, I'm sure. If a vendor could purchase their goods from their distributor in Bitcoin, there'd be a great opportunity. Right now there's MtGox to peg exchange rates, and since it's unregulated, it is pretty simple to say that it could disappear and the entire market would drop significantly. Once the market has more big competitors, then your utopia will exist.

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April 14, 2013, 05:36:47 AM
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Interested in accepting bitcoin on my website , any more info would be appreciated.

thanks
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