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Author Topic: Bitmain is taking paypal !!!!  (Read 235 times)
philipma1957
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October 08, 2019, 02:02:02 PM
Last edit: October 08, 2019, 02:29:56 PM by philipma1957
 #1

I just purchased a s17 53 with paypal on bitmain website six months to pay no interest.  Gear is due oct 20-30


I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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October 08, 2019, 02:25:24 PM
 #2

Interesting.... was just browsing their shop a few minutes ago... but didnt pull the trigger because current value of btc.   Made a $2600 purchase last month, with less coin than it would take to buy make a $2300 purchase today.

Home garage miner: 1-s9i, 1-s17 pro 50, 1-s17 56
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October 08, 2019, 02:33:13 PM
 #3

Guess they figure they can eat the 3% fee, what with their 150% markup on gear.

Cool, quiet and up to 1TH pod miner, on sale now!
Currently in development - 200+GH USB stick; 6TH volt-adjustable S1/3/5 upgrade kit
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October 08, 2019, 02:35:45 PM
Merited by HagssFIN (1)
 #4

Interesting.... was just browsing their shop a few minutes ago... but didnt pull the trigger because current value of btc.   Made a $2600 purchase last month, with less coin than it would take to buy make a $2300 purchase today.


Price was okay. PayPal six months to pay  no interest got me to buy it.

2443 with the shipping due in 2-3 weeks.

I now have

A1041 coming in three days.   31-37 th
S17 53 due end of oct....".........  53th
2x t17e due mid nov. ............... 106th

Total. About 190th

To the 1050th on hand.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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October 08, 2019, 02:40:49 PM
 #5

Checked my PayPal acct and realized I had several thousand available for credit.    So, I pulled the trigger on the 6mo zero interest credit.  Grabbed another S17e

So, that makes one S17e arriving Nov, another S17e in Dec.

Those will replace the S9i, and S17pro50 in sig line below.  I'll try to sell those on eBay at eBay prices, and recoup most of the cost.

That'll put me at max comfortable electrical draw. And about 180TH.

Home garage miner: 1-s9i, 1-s17 pro 50, 1-s17 56
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October 08, 2019, 05:19:19 PM
 #6

This isn't good news for difficulty, it would definitely open open the doors for the masses.
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October 08, 2019, 05:49:29 PM
Merited by philipma1957 (2), HagssFIN (2), favebook (1)
 #7

Opening up the doors for the masses is good for decentralization and adoption, which is good for price stability, fees and the overall transactional economy.

Cool, quiet and up to 1TH pod miner, on sale now!
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October 08, 2019, 06:11:03 PM
 #8

Opening up the doors for the masses is good for decentralization and adoption, which is good for price stability, fees and the overall transactional economy.

Yeah I purchased 1 s17 53th non-pro  due to ship oct 20-30  using paypal to support bitmain's choice of allowing paypal payments.

If they continue to offer paypal I will order another one soon.

I have gear due
Oct 20 ..........   37th
Oct 20-31......   53th
Nov 10-20.....  106th


I will place another order soon  maybe Nov 1-5 
Once  I get the 37th + 53th gear
As much as I don't like bitmain  I do like paying with paypal with six months timeline zero interest.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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October 09, 2019, 07:14:12 AM
 #9

This isn't good news for difficulty, it would definitely open open the doors for the masses.
Difficulty would rise in any way because Bitmain was always easily out of stock, so they never had problem of selling. Yeah, adding of paypal payment means new potential customers but it has nothing to do with your proposal and also everyone who buys antminer or bitmain's product is in touch with bitcoin and bitcoin payment isn't problem for them. Here is the most amazing fact: You can buy miners with 6 month zero fee loan.
Btw if anyone knows, is that 6 month zero interest available only for USA customers?

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October 09, 2019, 08:20:01 AM
 #10

This isn't good news for difficulty, it would definitely open open the doors for the masses.

The masses don't have much of a say in the network due to how insanely large it already is, so I doubt it will change much.

It could however make wealthy entities compete with each other, which directly means that it works against existing players like Bitmain, Poolin, etc. People have always complained about the lack of miner distribution, well, this could be one effective way to improve the distribution.

No matter how many people here dislike PayPal, a lot of people outside the crypto realm aren't that unhappy. PayPal to them is purchasing stuff with confidence, especially with how people might not initially trust companies such as Bitmain. This is an effective way to counter the risk of losing money because the buyer is mostly always right with PayPal.

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October 09, 2019, 08:25:47 AM
 #11

The title reads like...

"Guldan cheats!"

Bitmain's sole motivation is making more money, just like any other company so I can get that when I look at it from that perspective. Also if that decision is going to turn more nocoiners into bitcoiners, it is a good move.




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October 09, 2019, 12:46:27 PM
 #12

This isn't good news for difficulty, it would definitely open open the doors for the masses.
Difficulty would rise in any way because Bitmain was always easily out of stock, so they never had problem of selling. Yeah, adding of paypal payment means new potential customers but it has nothing to do with your proposal and also everyone who buys antminer or bitmain's product is in touch with bitcoin and bitcoin payment isn't problem for them. Here is the most amazing fact: You can buy miners with 6 month zero fee loan.
Btw if anyone knows, is that 6 month zero interest available only for USA customers?

Not sure if it would even affect difficulty or anything that much at all, all the big buisnesses and mining rigs are pretty set and this will just help some regular Joe's who don't have 2 grand ready to spend on some gear be able to mine some crypto-currencies.

I checked the website, and maybe I'm stupid but I wasn't able to see or get the 6 month option, and I was either forced to pay instantly or just cancel the order. Bummer for me I guess.

 
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October 09, 2019, 01:30:16 PM
 #13

Also if that decision is going to turn more nocoiners into bitcoiners, it is a good move.

It's a decision solely to boost the sales. The miners (too) expect Bitcoin to rise and it can look like a good business to buy for fiat and not for Bitcoin (although at the end they're both money).
And for some (see "no interest") it may indeed be a good business Smiley

Wow @ 1050th

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October 10, 2019, 02:03:45 PM
 #14

This is good to hear, I will certainly heard over there and check it out....not that I have the money now but information is power right Grin

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October 10, 2019, 03:09:32 PM
 #15

Btw if anyone knows, is that 6 month zero interest available only for USA customers?

I couldn't find an answer to the same question 2 days ago, so I contacted them and I've been told(by Martyna from PayPal) that it is only available in North America, UK and Germany.
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October 10, 2019, 03:45:44 PM
 #16

I think most cryptocurrency investors/spectators are at least against Paypal. So kind of sad to see them accept this, but business is business.

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October 10, 2019, 05:48:57 PM
 #17

I just purchased a s17 53 with paypal on bitmain website six months to pay no interest.  Gear is due oct 20-30



Are they giving product even with out the fees on transaction with EMI option?

If there is offer on using the PayPal credit option it will be more useful for the people who wants start the ASIC mining process.

 
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October 11, 2019, 01:25:43 AM
 #18

I just purchased a s17 53 with paypal on bitmain website six months to pay no interest.  Gear is due oct 20-30



Are they giving product even with out the fees on transaction with EMI option?

If there is offer on using the PayPal credit option it will be more useful for the people who wants start the ASIC mining process.
I was looking at the products a couple days ago and I was debating whether to make a purchase or not, but I think they where losing sales so they added this new Paypal option.

I believe they are eating up the fees themselves since the profit margins are probably high enough, and I don't think they'd get customers if they made them pay the fees.

Paying it off in 6 months is pretty cool though!

 
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October 11, 2019, 07:28:58 AM
 #19

8 months ago and my farm would probably have been full of Antminers. There have been a lot of times I've scrambled to get coins together or used coins I wanted to hold to grab gear, because wire transfers are shit for me anyways. I fully support any option that allows even a small amount of BTC to not be funneled into Bitmain, this is a nice Fiat on ramp imo. I do think it's just another way for them to push as much gear out the door between now and the halving because it will be a tougher sell convincing people to shell out BTC for gear leading into it.
With it being winter though it was almost tempting enough to grab some S9's.
I think most cryptocurrency investors/spectators are at least against Paypal. So kind of sad to see them accept this, but business is business.
You use the tools available though, and even if you can't stand something at times it is your best option.

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October 20, 2019, 04:11:05 PM
Merited by squatter (1)
 #20

I ended up ordering three units.

One t17.      40th for dec
One s17.      53th for oct
One s17 pro 50th for oct

Six months to pay zero interest. About 5800 .

This is a no brainer if you are investing in btc.

103 th earns 103 x 0.0000182 btc a day.

Then in 2 months you bump to 143 th.

If you chose you can pay about 100 a month for five months then pay 5300 in month six.

If you want a hedge this is it. If the gear breaks from now to six months from now you can fight with PayPal for refunds. If btc moves up in price this is a solid move it is possible you are paid off very quickly.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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