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Author Topic: This is why online businesses should only accept bitcoins  (Read 1725 times)
Minsc
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March 12, 2012, 05:45:26 AM
 #1

Read this: http://whiteelephantmedia.com/
PayPal like the mafia extorted half a million dollars from this company and then after getting it, froze their account and stole all their money.  Something like one million dollars.

You could get a merchant account, but such processor could freeze your account.  Tradehill had their payment processor steal $100,000 this way.

The only real way for dealing with payments is bitcoins!

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cbeast
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Let's talk governance, lipstick, and pigs.


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March 12, 2012, 05:52:36 AM
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Except the only way for most people to get Bitcoin is through exchanges. There needs to be a decentralized exchange system that is easy to use.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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March 12, 2012, 05:57:28 AM
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I'm not a big buyer or seller but it's clear that eBay/Paypal has gone downhill quite a bit in recent years.

How difficult would it be for someone to create a basic, simple nationwide auction site based around Bitcoins?  The only real functionality required is hosting some photos, maintaining a feedback system, and collecting a small fee.  I'm surprised this doesn't exist already.

Civil Liberty Through Complex Mathematics
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March 12, 2012, 06:11:16 AM
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I'm not a big buyer or seller but it's clear that eBay/Paypal has gone downhill quite a bit in recent years.

How difficult would it be for someone to create a basic, simple nationwide auction site based around Bitcoins?  The only real functionality required is hosting some photos, maintaining a feedback system, and collecting a small fee.  I'm surprised this doesn't exist already.

http://bitmit.net/
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March 13, 2012, 12:10:14 AM
 #5

A decentralized way to exchange fiat for crytocurrency of any kind is fundamentally impossible to do without 100% trust, which does not exist. So we wither need a bunch of local dealers, vending machines, better online exchanges, whatever. but it can not be decentralized in the way that bitcoin is.

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March 19, 2012, 12:15:53 PM
 #6

Read this: http://whiteelephantmedia.com/
PayPal like the mafia extorted half a million dollars from this company and then after getting it, froze their account and stole all their money.  Something like one million dollars.

You could get a merchant account, but such processor could freeze your account.  Tradehill had their payment processor steal $100,000 this way.

The only real way for dealing with payments is bitcoins!

Bitcoins are "a way" but not "the only way" to receive payments.  It is shallow thinking to think this. Think about it.
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Let's talk governance, lipstick, and pigs.


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March 20, 2012, 04:15:47 PM
 #7

Read this: http://whiteelephantmedia.com/
PayPal like the mafia extorted half a million dollars from this company and then after getting it, froze their account and stole all their money.  Something like one million dollars.

You could get a merchant account, but such processor could freeze your account.  Tradehill had their payment processor steal $100,000 this way.

The only real way for dealing with payments is bitcoins!

Bitcoins are "a way" but not "the only way" to receive payments.  It is shallow thinking to think this. Think about it.
Get the quote right. He didn't say "the only way," he said "the only real way."  Grin

srsly, I think what he actually meant was, "the only real safe way." Bitcoin cannot be charged back except possibly by a 51% attack.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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March 20, 2012, 08:50:37 PM
 #8

Read this: http://whiteelephantmedia.com/
PayPal like the mafia extorted half a million dollars from this company and then after getting it, froze their account and stole all their money.  Something like one million dollars.

You could get a merchant account, but such processor could freeze your account.  Tradehill had their payment processor steal $100,000 this way.

The only real way for dealing with payments is bitcoins!

Bitcoins are "a way" but not "the only way" to receive payments.  It is shallow thinking to think this. Think about it.
Get the quote right. He didn't say "the only way," he said "the only real way."  Grin

srsly, I think what he actually meant was, "the only real safe way." Bitcoin cannot be charged back except possibly by a 51% attack.

Oh, I understand.  It is not "the only way" but "the only real way," as opposed to "the only fake way."  You see, just as you quote "the only real safe way" for your interpretation of his words, I, too, quote his words via my interpretation "the only way." 

Let's face it: there is no "fake way."  Therefore, "the only real way" is meaningless, since what he really means is the "the only way."  Either way, neither statement is true. 

In fact, there are plenty of non-reversible digital currencies on the market that are as safe or safer than Bitcoins. 

benjamindees
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March 21, 2012, 03:59:42 AM
 #9

In fact, there are plenty of non-reversible digital currencies on the market that are as safe or safer than Bitcoins. 

Um, like what?

Civil Liberty Through Complex Mathematics
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March 21, 2012, 12:09:44 PM
 #10

In fact, there are plenty of non-reversible digital currencies on the market that are as safe or safer than Bitcoins.  

Um, like what?

Let me clarify something.  In my original post, when I stated it is not "the only way" but "a way," I was referring to non-reversible currencies.  I understood the author was not stating that Bitcoins was the only way to receive payments, since there are literally scores of different ways, but that Bitcoins were the only way to receive safe, non-reversible, payments.  

I disputed this claim by saying it is "a way."

Here are some non-reversible currencies currently used:

Note: I do not approve of all or even most of them but they are available:

www.perfectmoney.com
www.c-gold.com
www.libertyreserve.com
www.e-gold.com
www.hd-money.com
www.eurogoldcash.com

etc, etc, etc.  

If you are interested, you should ready my eBook.


benjamindees
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March 21, 2012, 12:35:21 PM
 #11

You realize e-gold is in receivership, right?

Are any of those others immune to the same demise?

Civil Liberty Through Complex Mathematics
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March 21, 2012, 12:55:42 PM
 #12

You realize e-gold is in receivership, right?

Are any of those others immune to the same demise?

Please see my original quote:

Quote
Note: I do not approve of all or even most of them but they are available

I'm well aware of e-gold and its problems.  I do not recommend it.  In fact, I do not recommend many of the others I listed as well.  They are mere references.

e-gold was the first digital gold business and it made quite a few mistakes; hence, it has had the problems it has had. 

There are a few gems out there, which would be nigh impossible to explain on this forum.

Ultimately, who better to trust than your own judgment? 

Read some books and articles; do some research.

But the overall point is--Bitcoin is neither the first nor the only safe non-reversible option for merchants. 

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The revolution will be monetized!


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March 21, 2012, 08:26:23 PM
 #13

It has already happened. I never use PayPal any more. Just bitcoin. It is all you need!

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin=https://bitcointalk.org/index.php?topic=1610684
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