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WordPress To Accept Bitcoins

samzenpus posted about a year and a half ago | from the what-about-gold? dept.

Bitcoin 205

angry tapir writes "WordPress has said it will accept payment in bitcoins, opening up the blogging platform to payments from users in countries not supported by PayPal or credit card companies. WordPress is free, open-source software, but the company Automattic offers paid-for features such as blog designs, custom domains, hosting partnerships and anti-spam measures."

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205 comments

FP ! (0, Offtopic)

Anonymous Coward | about a year and a half ago | (#41999883)

Yeah :-)

maybe... (3, Interesting)

Anonymous Coward | about a year and a half ago | (#41999895)

Is Paypal feeling threatened yet?

Re:maybe... (-1)

Anonymous Coward | about a year and a half ago | (#41999897)

nope.

Re:maybe... (-1)

Anonymous Coward | about a year and a half ago | (#42001503)

No, nobody is feeling threatened. Bitcoin is and always will be a failure, and nobody will ever take it seriously. Only a bunch of sperglords, drug dealers, and Ron Paul morons will ever use it.

Now (2, Informative)

Anonymous Coward | about a year and a half ago | (#41999905)

It's accepting Bitcoin "now" ;)

hm (-1, Troll)

etash (1907284) | about a year and a half ago | (#41999907)

so wordpress will be a part of the money laundering network now?

Re:hm (4, Insightful)

AlexDusty (848322) | about a year and a half ago | (#41999951)

Yes, as you do while using your dollar cash.

Re:hm (2)

etash (1907284) | about a year and a half ago | (#42000221)

arguing that the current regulated monetary system which regulated and supervised is the same as the bitcoin network is like comparing the criminal far west of 2 centuries ago with a moderately corrupt country today.

Re:hm (4, Insightful)

AlexDusty (848322) | about a year and a half ago | (#42000317)

Denying that there are huge organisations doing money laundering with dollars, euros and other currencies is simply burying his head in the sand. I'm sick of hearing ppl dismissing Bitcoin because "it helps money laundering". Bitcoin exists because conventional money is now far too regulated. And of course because in the 21th century we need digital gold... let the fools play with paper money you can print at will...

Re:hm (3, Insightful)

etash (1907284) | about a year and a half ago | (#42000487)

straw man. I never denied that criminal activities happen with the current regulated currency. What i properly explained but you carefully avoided is that an unregulated and uncontrolled method of money is to the criminals just like honey for the bears. printing money is wrong, while on the other hand it's perfectly logical to create money out of thin air simply by gpu calculations ? and having one institution print money is wrong, having everyone do that with their gpus is right and it so much helps inflation. right.

Re:hm (3, Informative)

AlexDusty (848322) | about a year and a half ago | (#42000551)

Ok, I see you don't know the first thing about Bitcoin, too bad. Bitcoins can't be mined more than what has been defined on day one, no matter how many CPUs, GPUSs, FPAs, and (soon) ASICs you put at work. Nobody can do a heck about inflation in Bitcoin, no matter how large his resources. The (matematical) rules can be changed only id the majority of the network agrees to a new set. And guess what? Bitcoin is succesful *because* of that rules. Government money will always be scarce for someone (the majority of the people) and will always be printed at will by some other (a minimum minority). Bragging about criminal activities using Bitcoin is exactly the same as bragging about free speech. He who does not understand the importance of the latter can't understand the importance of the former.

Re:hm (1, Flamebait)

etash (1907284) | about a year and a half ago | (#42000575)

oh so i don't understand the importance of free speech now? lol ? and how exactly is free speech related to bitcoins ? are you - in your paroxysm - insinuating that they are somehow relative ? trying to add value where there isn't any ?

Re:hm (1)

fustakrakich (1673220) | about a year and a half ago | (#42000561)

There is no right to restrict a non official method of exchange. You seem to be demanding that we must go through channels to make a purchase of goods and services.

Re:hm (0)

Anonymous Coward | about a year and a half ago | (#42001477)

You don't know what you are talking about.
Coins cant be made out of thin air. There is actuall limit on how many can be produced, it kills inflation idea in it straight away. This, what makes this idea so valuable.

Re:hm (3, Insightful)

killkillkill (884238) | about a year and a half ago | (#42000347)

Sorry to burst your bias against Bitcoin, but you are simply spreading FUD. The volume of trade does not exist to launder significant amounts of money. Aside from some drug sales (which still pale in comparison the sales made in UNTRACEABLE fiat on the street) I don't think what actually happens on the network is quite like what you think happens.Your highly regulated and supervised system is still the monetary system of choice to launder money. The Internationale crime syndicate really doesn't need the Bitcoin network, they are doing quite well as is.

http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs [guardian.co.uk]
http://blogs.reuters.com/felix-salmon/2010/06/29/u-s-banks-still-very-involved-in-money-laundering/ [reuters.com]

Re:hm (0)

Anonymous Coward | about a year and a half ago | (#42000009)

I read it as: "Wordpress directors can now buy drugs anonymously..."

Re:hm (5, Interesting)

Zemran (3101) | about a year and a half ago | (#42000151)

Money laundering now seems to mean not paying the bank their 6%. I shift a lot of money around the world through some very questionable countries but as long as I pay the bank, no one minds. If I take a lot of cash onto a plane to avoid the bank fees I am a money launderer. It is BS and I no longer take it seriously, to me it is a challenge. I am not a criminal but I will do all I can to avoid paying stupid banks in other countries money that they do not deserve.

Does anyone understand how real money laundering works? It is easy and it does not have to move countries. Just get a shop and sell stuff. If you want to clean some money you sell more on paper than you really sold. It is that easy. You do not need to go to another country with a suitcase of cash, that is stupid.

I really want Bitcoin to become a reality because then I can save 6%. Now the people I work with all want Swift payments or Moneygram. I try to avoid Paypal and Western Union as they charge way too much.

Re:hm (5, Informative)

mentus (775129) | about a year and a half ago | (#42000211)

Is HSBC present in the countries you're operating? If you set up an HSBC Premier account in any of the countries it operates, you're automatically eligible to open HSBC Premier accounts in any of the countries it operates - without paying any fees. Then you can use GlobalView to log in in all the accounts at the same time and shift money without paying any fees.

Re:hm (-1, Troll)

etash (1907284) | about a year and a half ago | (#42000215)

which 6% are you talking about ? you do realize that bitcoin is mostly used by criminals for illegal transactions and by people who want to avoid income tax, don't you? And that it also is the heaven for money laundering.

Re:hm (5, Interesting)

icebraining (1313345) | about a year and a half ago | (#42000293)

you do realize that bitcoin is mostly used by criminals for illegal transactions and by people who want to avoid income tax

And you know this.. how?

It is certainly used by criminals - like any other currency - but "mostly" is just baseless speculation.

Re:hm (2, Informative)

etash (1907284) | about a year and a half ago | (#42000471)

here is one link that took me 3 seconds to google. http://www.wired.com/threatlevel/2012/05/fbi-fears-bitcoin/ [wired.com] it doesn't take an einstein to understand that criminals would rush to using unregulated and uncontrolled methods of payment/money etc. despite the fact that i'm moderated as troll, it's all of you who really are.

Re:hm (2, Informative)

fustakrakich (1673220) | about a year and a half ago | (#42000619)

So, we are supposed to take government propaganda as fact? Why should we let them have all the fun [fas.org]? What's good for the goose...

We have a right not to be tracked, regardless of your hysteria about 'criminals'.

Re:hm (1, Troll)

etash (1907284) | about a year and a half ago | (#42000643)

so by default whatever the governments say is propaganda and whatever the "revolutionaries" say is true. Sure, you want to remain anonymous, use cash. Would you use money printed by me instead of officially printed money (government) ? Do you know who benefits the most from anonymous money ? yeap you guessed right, the criminals, not normal citizens who fear that the government cares if they buy a 5'' dildo from a sex shop

Re:hm (0)

Anonymous Coward | about a year and a half ago | (#42000695)

Your link doesn't even attempt to assert that Bitcoin is used "mostly" by criminals.

Re:hm (1)

funwithBSD (245349) | about a year and a half ago | (#42001471)

You still did not back up the statement that it is "MOSTLY used by Criminals".

You just gave us a link to a site that the FBI is "concerned", and provides little actual proof that it is being used.

In fact, the only "proof" was reported nerd-on-nerd crime of malware stealing bitcoins.

Re:hm (-1, Troll)

dbIII (701233) | about a year and a half ago | (#42000473)

It's not really a "currency", instead it's a pyramid scam deliberately structured so the early adopters can sit back and do nothing while others grow the pyramid for them.

Re:hm (2)

MightyYar (622222) | about a year and a half ago | (#42000865)

I don't know if you can call it a scam when they cover that in their FAQ. Even if you disagree, they are transparent about it:

Is Bitcoin a Ponzi scheme?

In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee. There is no central entity, just individuals building an economy.

A ponzi scheme is a zero sum game. Early adopters can only profit at the expense of late adopters. Bitcoin has possible win-win outcomes. Early adopters profit from the rise in value. Late adopters, and indeed, society as a whole, benefit from the usefulness of a stable, fast, inexpensive, and widely accepted p2p currency.

The fact that early adopters benefit more doesn't alone make anything a Ponzi scheme. All good investments in successful companies have this quality.

Re:hm (1)

Ash-Fox (726320) | about a year and a half ago | (#42000483)

Note: I am not the GP.

And you know this.. how?

It's possible that In some countries, alternative 'currency' systems like Bitcoin could be illegal and therefore using them within their borders would be criminal. Perhaps our friend lives in one of these countries?

Re:hm (0)

Anonymous Coward | about a year and a half ago | (#42000657)

Very possible, but omitting such an explanation is misleading at best.

Re:hm (0)

Anonymous Coward | about a year and a half ago | (#42000843)

Very possible, but omitting such an explanation is misleading at best.

Americans are guilty of this all the time.

Re:hm (2)

pla (258480) | about a year and a half ago | (#42001013)

Wow, dude, you've really dominated this discussion so far with baseless accusation after baseless accusation. I'd call you a troll, but wow, you have too serious a hard-on over spewing your lies to count as merely a troll - You really seem to hate Bitcoin for some reason.

That said, your sincerity doesn't make you right. You should leave this topic alone until you learn the difference between "what I want something to be" and "what it is".

Re:hm (1)

Zemran (3101) | about a year and a half ago | (#42001035)

Far more criminals use cash than Bitcoin. It is stupid to suggest otherwise regardless of how many links you can provide.

And Paypal's response will be, (1)

u64 (1450711) | about a year and a half ago | (#41999913)

nothing.

Re:And Paypal's response will be, (5, Interesting)

serviscope_minor (664417) | about a year and a half ago | (#41999981)

So?

Cast your mind back 12 years to what slashdot and similar communities were like when Linux was just beginning to be taken seriously.

"Linux will never mainstream until it does X"

Very similar to how bitcoin will never be mainstream until it's accepted by X. And of course in the mean time big companies like Sun (who?) Silicon Graphics (who?), Digital (who?) and MS of course all ignored it. In some cases it did X. In some cases it didn't. Nevertheless, it ended up as about the #1 operating system in the world. I doubt there's anything in wider use overall out there.

Re:And Paypal's response will be, (0, Flamebait)

Anonymous Coward | about a year and a half ago | (#42000015)

2013 will be the year of linux on the desktop!

Re:And Paypal's response will be, (0)

Anonymous Coward | about a year and a half ago | (#42000045)

android brah

Re:And Paypal's response will be, (2)

David Gerard (12369) | about a year and a half ago | (#42000061)

2013 will be the year of Bitcoin on the desktop!

(Just imagine: all those juicy unencrypted wallet.dat files, sitting on Windows machines on the Internet. Why phish when you can just steal directly?)

Re:And Paypal's response will be, (3, Funny)

Zemran (3101) | about a year and a half ago | (#42000117)

What's a desktop and can I get an android app for it?

Re:And Paypal's response will be, (5, Interesting)

IamTheRealMike (537420) | about a year and a half ago | (#42000223)

I think "Linux on the desktop" is an interesting analogy for Bitcoin, but it's not the only one available. If Bitcoin follows the trajectory of desktop Linux then it will grow and grow until it saturates its niche market, at which point usage will level off. Unable to tackle the challenges needed to advance to the next level, it will become something of a calling card for certain communities but will just be a curiosity to the rest of the world. The underlying ideas or philosophies, though, may have influence out of proportion to its usage (eg, Android being open source was certainly heavily influenced by Googles experiences with Linux).

That's one scenario. Another is that rather than being similar to desktop Linux, Bitcoin is more similar to the web. Bitcoin is about 3 years old, but really it's only more like 2 years old because for the first year it languished in absolute obscurity. If you think back to the internet in the early to late 90s, the net was this technically complicated and intimidating beast. You needed a crazy thing called Trumpet WinSock, and then you needed an ISP (only a few small ones existed) and then you needed even more software and often it just wouldn't work at all, and when it did there was no friendly start page or anything, you just had to know where to go. The de-facto standard for "normal people" was CompuServe and AOL. Movie trailers had AOL keywords at the end, not web addresses.

Despite that the web eventually triumphed and became the standard, replacing the sophisticated and well organized corporations that previously reigned supreme. Why? Well, it was an open and international system where everyone could take part. The protocols were documented, anyone could write software for it. Because it was open that's where the research was taking place. Then the existing institutions started to provide limited forms of web access alongside their walled gardens, lending it legitimacy. It's easy to forget that back then the net was frequently painted as swamped with immoral, degenerate or even illegal activity. In 1995 TIME Magazine ran with a cover story claiming the internet was completely dominated by porn [time.com], based on statistics about USENET that later turned out to be completely bogus. Parallels with some contemporary stories around Bitcoin are easy to see.

Anyway, there's no guarantees of success and either scenario is equally likely, IMHO (in the absence of a dystopian crackdown by governments that simply ban any financial system they cannot exert total control over).

Re:And Paypal's response will be, (1)

Ash-Fox (726320) | about a year and a half ago | (#42000381)

What I find interesting is claiming Linux is mainstream. I remember ten years ago people talking about "the year of the Linux desktop", except it never really happened. So, I figure what he's trying to say is that Bitcoin will never quite make it.

This is where people misunderstand badly (1)

dbIII (701233) | about a year and a half ago | (#42000489)

it will grow and grow

The number of bitcoins is capped. That part of the scam is to give the early adopters a huge advantage if there are a large number of people that join in the pyramid.

Re:This is where people misunderstand badly (1)

Xylantiel (177496) | about a year and a half ago | (#42000733)

But as he said -- it may just be the influence that grows. Nominally someone could create a currency that works like bitcoin but has the same inflation properties as targeted by the central banks (3%/year). This may be possible to do on top of bitcoin's own proof-of-work stream. Bitcoin itself couldn't do this because the early adopter advantage (that makes it scam-like) was necessary to get it started. But now that the system has proved some of its worth, something else could build on it.

Re:This is where people misunderstand badly (1)

Joce640k (829181) | about a year and a half ago | (#42000921)

it will grow and grow

The number of bitcoins is capped. That part of the scam is to give the early adopters a huge advantage if there are a large number of people that join in the pyramid.

Right now it costs more in electricity to generate a coin than the coin is worth...

Re:This is where people misunderstand badly (1)

canadiannomad (1745008) | about a year and a half ago | (#42001291)

How do you know the miners don't have a river turbine or solar panels? Just cause your electricity is expensive doesn't mean it is everywhere.

Re:This is where people misunderstand badly (0)

Anonymous Coward | about a year and a half ago | (#42001115)

it will grow and grow

The number of bitcoins is capped. That part of the scam is to give the early adopters a huge advantage if there are a large number of people that join in the pyramid.

Doesn't mean it couldn't work as a currency - those two are entirely unrelated, apart from the fact that early adopters that believe in the "product" - as per usual in *any* venture - gets to reap more than the latecomers who only come on board after the fact. That's actually an interesting part of it all, it can both be a pyramid scheme (although I doubt that was the point, too far fetched) *and* a working currency.

Also: Bitcoin FAQ: Doesn't Bitcoin unfairly benefit early adopters? [bitcoin.it]

Re:And Paypal's response will be, (0)

Anonymous Coward | about a year and a half ago | (#42000067)

"Linux will never mainstream until it does X"

12 years ago, it already did X. Version 11, no less. :-)

Re:And Paypal's response will be, (0)

Anonymous Coward | about a year and a half ago | (#42000071)

Saying nothing about it is good, since any publicity is good publicity.
Ignoring it is bad because, if it's something good then the firm in question has a bleak future.

Re:And Paypal's response will be, (0)

Anonymous Coward | about a year and a half ago | (#42000315)

"Linux will never mainstream until it does X"

XFree86 initial release was in 1991 - 21 years ago.
Wait. What?

Re:And Paypal's response will be, (0)

Anonymous Coward | about a year and a half ago | (#42001061)

(whooooooosh)

Re:And Paypal's response will be, (1)

Threni (635302) | about a year and a half ago | (#42000331)

> MS of course all ignored it. In some cases it did X. In some cases it didn't.
> Nevertheless, it ended up as about the #1 operating system in the world. I doubt
> there's anything in wider use overall out there.

MS still ignore it. They're more concerned with threats to their future profitability, and Linux is not - and will never - be. (And I say that as Linux & Windows user).

Re:And Paypal's response will be, (2)

serviscope_minor (664417) | about a year and a half ago | (#42000967)

MS still ignore it.

Oh, so that's why they support Linux in Hyper-V, then.

They're more concerned with threats to their future profitability, and Linux is not - and will never - be.

Er, what? Which planet do you hail from and how long does it take to get to Earth. I'd love to visit.

So, I take it that Microsoft provide no software for servers (where Linux is very strong) or smartphones (where Linux is very strong) or embedded devices (where Linux is very strong).

Re:And Paypal's response will be, (1)

Ash-Fox (726320) | about a year and a half ago | (#42000361)

Cast your mind back 12 years to what slashdot and similar communities were like when Linux was just beginning to be taken seriously.

"Linux will never mainstream until it does X"

It already did X by then.

Former Bitcoin Believer (-1, Flamebait)

Anonymous Coward | about a year and a half ago | (#41999923)

Bitcoin cannot succeed due to the violently idiotic community that has built itself around it.

From common con artists (Roger Ver, Tihan Seale) to large scale money laundering (Charlie Schrem Bitinstant) the community is full of petty criminals.

Accepting bitcoins is a mistake.

The people paying in bitcoins are all fucking crooks.

Re:Former Bitcoin Believer (1)

Anonymous Coward | about a year and a half ago | (#41999955)

So, are they petty, or large scale? Make up your mind, then post, otherwise the FUD doesn't work so well.

Re:Former Bitcoin Believer (1)

Anonymous Coward | about a year and a half ago | (#42000101)

They are petty on a large scale. :-)

(Not the same AC, in case you wondered)

Re:Former Bitcoin Believer (3, Funny)

loonycyborg (1262242) | about a year and a half ago | (#41999971)

As if other currencies don't attract crooks and idiots..

Should we stop using all kinds of money or what?

Re:Former Bitcoin Believer (1)

Anonymous Coward | about a year and a half ago | (#42000021)

There is a whole underground economy that could really take advantage of bitcoins. Now it might start with pot although it ends with people buying computers, electronics, hosting, and all sorts of legitimate merchandise. That drug money has to go somewhere. Eventually it ends up getting used for sanctioned purposes. If we start accepting bitcoins it'll get reported to the IRS. Taxes will be collected, and so on (I don't run an illegitimate business).

Re:Former Bitcoin Believer (1)

L4t3r4lu5 (1216702) | about a year and a half ago | (#42000387)

Two things need to happen first:

Abundant free energy, and energy-matter conversion on an industrial scale. That way everyone can have anything they want.

Yup. We pretty much need to live in Star Trek.

Re:Former Bitcoin Believer (5, Insightful)

Anonymous Coward | about a year and a half ago | (#41999983)

The US dollar cannot succeed due to the violently idiotic community that has built itself around it.

From common con artists (Goldman Sachs, Enron) to large scale scale money laundering (Bank of America) the community is full of petty criminals.

Accepting USD is a mistake.

The people paying in dollars are all fucking crooks.

Re:Former Bitcoin Believer (1)

drinkypoo (153816) | about a year and a half ago | (#42000345)

The people paying in dollars are all fucking crooks.

What am I supposed to pay in, chickens?

Re:Former Bitcoin Believer (1)

MMC Monster (602931) | about a year and a half ago | (#42000631)

There is nothing special about the US dollar that the companies you mentioned couldn't do with bitcoin.

Now, I could agree with you if you wanted to talk about the dangers of a global economy tied to the monetary policy of a single country. We're starting to see the effect of a bit-player country (Greece) having on the Euro and the European Union.

Re:Former Bitcoin Believer (1)

canadiannomad (1745008) | about a year and a half ago | (#42001333)

I agree with you, except that they can't just "will" more of it into creation and give it to their friends.

Re:Former Bitcoin Believer (1)

LordLimecat (1103839) | about a year and a half ago | (#42000911)

Im a crook?

Seriously, how did this get modded insightful?

Re:Former Bitcoin Believer (0)

Anonymous Coward | about a year and a half ago | (#42001267)

See what it's in response to.

DESPERATE TIMES !! (0)

Anonymous Coward | about a year and a half ago | (#41999937)

Leads to desperate measures !!

Go T'wana !!

Few replies (-1, Troll)

tehcyder (746570) | about a year and a half ago | (#42000035)

Interesting that there aren't the normal number of postings for a bitcoin story. Presumably all the early adopters in this Ponzi scheme have now cashed in and the suckers left trying to buy drugs from the FBI with their worthless digital "currency" are too embarrassed to admit it.

Re:Few replies (1)

Anonymous Coward | about a year and a half ago | (#42000081)

It's not a currency. It's a collectible.

Re:Few replies (0)

Anonymous Coward | about a year and a half ago | (#42000087)

Yeah, but a collectible with individually numbered items.

Re:Few replies (3, Interesting)

Anonymous Coward | about a year and a half ago | (#42000103)

It's not a ponzi scheme.

Silk Road works just fine (I know several people who have bought drugs successfully using SR but I suppose the FBI is "just waiting to make a big bust" or whatever excuse you've got).

Re:Few replies (1)

vyvepe (809573) | about a year and a half ago | (#42000175)

Presumably all the early adopters in this Ponzi scheme have now cashed in

Probably not. About 65% of BTCs in use are owned by only 10,000 users. Why is it a Ponzi scheme?

Re:Few replies (0)

Viol8 (599362) | about a year and a half ago | (#42000193)

"Why is it a Ponzi scheme?"

Because when the users realise that its never going to be taken seriously and try and offload their now worthless trinkets the value will start to collapse. The original speculators however will have already made their killing and be long gone.

Re:Few replies (4, Informative)

fastest fascist (1086001) | about a year and a half ago | (#42000251)

That some may profit at the expense of others doesn't make anything into a Ponzi. But don't take my word for it, here's what the European Central Bank's analysts have to say on why Bitcoin isn't a Ponzi scheme:

http://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemes201210en.pdf [europa.eu]

"On the one hand, the Bitcoin scheme is a decentralised system where – at least in theory – there is no central organiser that can undermine the system and disappear with its funds. Bitcoin users buy and sell the currency among themselves without any kind of intermediation and therefore, it seems that nobody benefits from the system, apart from those who benefit from the exchange rate evolution (just as in any other currency trade) or those who are hard-working “miners” and are therefore rewarded for their contribution to the security and confidence in the system as a whole."

"Moreover, the scheme does not promise high returns to anybody. Although some Bitcoin users may try to profit from exchange rate fluctuations, Bitcoins are not intended to be an investment vehicle, just a medium of exchange. On the contrary, Gavin Andresen, Lead Developer of the Bitcoin virtual currency project, does not hesitate to say that “Bitcoin is an experiment. Treat it like you would treat a promising internet start-up company: maybe it will change the world, but realise that investing your money or time in new ideas is always risky”. In addition, Bitcoin supporters claim that it is an open-source system whose code is available to any interested party."

Can you lose your shirt if you invest heavily in Bitcoin? Yes. Can you get scammed by other users? Yes. Is the whole thing a Ponzi scheme? No.

Re:Few replies (0)

Anonymous Coward | about a year and a half ago | (#42000807)

"Moreover, the scheme does not promise high returns to anybody."

This is bullshit: the number of coins is limited systematically, so any extra dollar/euro/yenn, whatever put into the system will result in deflation: a higher exchange rate of bitcoin vs. the rest.

This makes it a deflationary currency, which are really bad for liquidity since in times of growth, the best investment is to get as much coins as you can since the exchange rate is guaranteed to go up. So how does it not promise high returns to anybody? I think there was some research shown that a very large percentage of the owners is saving the coins and not spending them.

Re:Few replies (0)

Anonymous Coward | about a year and a half ago | (#42000289)

You clearly don't understand how a Ponzi scheme works. Like, at all.

Re:Few replies (0)

Anonymous Coward | about a year and a half ago | (#42000359)

Gotta say, the FBI sells some damn good drugs if that's who is selling.

Why?!? (0)

Anonymous Coward | about a year and a half ago | (#42000105)

Why bitcoins? Why not donations?

Re:Why?!? (3, Informative)

slim (1652) | about a year and a half ago | (#42000395)

RTFA. They want to sell to customers in countries where banks/paypal/etc. don't serve.

But WordPress wrote on its blog that PayPal doesn't serve more than 60 countries, and credit card companies have restrictions due to political, fraud and other reasons.

"Whatever the reason, we don't think an individual blogger from Haiti, Ethiopia, or Kenya should have diminished access to the blogosphere because of payment issues they can't control," WordPress said. "Our goal is to enable people, not block them."

Bitcoin will never (4, Funny)

shokk (187512) | about a year and a half ago | (#42000111)

Bitcoin will never be mainstream until we can buy a hotdog from a street vendor with it.

Re:Bitcoin will never (2, Informative)

Anonymous Coward | about a year and a half ago | (#42000155)

That's already the case, at least in in New York and Berlin.

Re:Bitcoin will never (5, Informative)

IamTheRealMike (537420) | about a year and a half ago | (#42000183)

If you go to Room 77 in Berlin you can buy burgers and beer with Bitcoins. You pay with your mobile phone. I've done it, it's easy. The guy who runs Room 77 is a huge Bitcoin fan and recently announced that 4 more shops in Berlin are now accepting Bitcoins too.

Re:Bitcoin will never (0)

Anonymous Coward | about a year and a half ago | (#42000505)

hmm, could this be why Google is pushing so much phones as payment medium? Interesting ...

Re:Bitcoin will never (0)

Anonymous Coward | about a year and a half ago | (#42000535)

"not mainstream until we can buy hotdog" means "not mainstream until it is mainstream"

Seems like a no-brainer (5, Informative)

slim (1652) | about a year and a half ago | (#42000135)

They're using BitPay. Assuming BitPay's charges are reasonable, it seems like a bit of a no-brainer.

Wordpress makes some simple API calls to BitPay. If someone pays in BitCoin, BitPay converts it to dollars, takes a processing fee, and adds it to Wordpress's balance. Wordpress can treat it as dollars from that point on, so tricky tax/accounting issues.

On that basis, why would you *not* accept BitCoin, if you think there are customers keen to spend them?

BitPay has to deal with tax/accounting/legality issues, but that's their business.

Re:Seems like a no-brainer (2, Interesting)

Anonymous Coward | about a year and a half ago | (#42000237)

On that basis, why would you *not* accept BitCoin [...]

I suppose that was a rhetorical question, but one reason would be that paypal and others refuse to allow them to use their (paypal's) service because of it, as has been rumored to happen before. Or was that some other payment service ?

Re:Seems like a no-brainer (1)

Anonymous Coward | about a year and a half ago | (#42000301)

This is a really good point. I'm not sure if it was PayPal, but I know a lot of businesses built around Bitcoin have had their bank accounts shut down, without warning, for no apparent reason.

Re:Seems like a no-brainer (2)

DerekLyons (302214) | about a year and a half ago | (#42000349)

On that basis, why would you *not* accept BitCoin, if you think there are customers keen to spend them?

There's more to such a decision than just tax/accounting issues... What is the 'float' - the time between BitPay collecting on my behalf and when they credit it to my account? How often can I collect my balance from BitPay and are there fees for the transfer? (The answers are "daily" and "yes, but not directly" according to BitPay, and there are sharp daily limits to boot.) Then you have to make what's really a gut check call - how stable and reliable do you believe BitPay to be, and how likely to be there next week, next month, next year?

Re:Seems like a no-brainer (1)

Anonymous Coward | about a year and a half ago | (#42000427)

This is exactly how BitPay works. Wordpress receives a direct deposit into their bank account every day, for the sum of all the orders they sold the day before. it is the same accounting process as credit cards.

Re:Seems like a no-brainer (1)

troicstar (1029086) | about a year and a half ago | (#42000997)

'so tricky tax/accounting issues' ? the accountant I spoke to didn't have to think twice about bitcoin; it is just another currency. If bitcoins are considered tricky this probably says more about the company/accountant than the currency.

My offer stands (3, Funny)

bigsexyjoe (581721) | about a year and a half ago | (#42000197)

I will pay you five billion bigsexyjoe nickels to stop running bitcoin stories.

Re:My offer stands (1)

magic maverick (2615475) | about a year and a half ago | (#42000781)

I've stopped running bitcoin stories, please pay me your nickels to:
1MJpSvjbSLEYNcGRHMWB6czui7P3dvwCf9
If possible please convert to bitcoin before paying me. Thanks.

Interesting (2)

vikingpower (768921) | about a year and a half ago | (#42000217)

two weeks ago, there already was a story here on the European Central Bank doing some thoughtwork on Bitcoin. [slashdot.org]

You'll see, Bitcoin is gonna be mainstream before ya know it. And a big finger up into the air to all the naysayers and cynics here.

Re:Interesting (0)

Anonymous Coward | about a year and a half ago | (#42000273)

Uh, that bank story proves nothing. First thing I thought when I heard the story was "them" want to take it over and make it another money cow for the rich. I mean, OF COURSE they do. We could be talking heavy regulation, or making the whole thing illegal or forced changes in protocols. Bitcoin becoming a relatively normal bank system with a slightly unusual underlying technical solution is NOT what I count as Bitcoin succeeding.

Re:Interesting (1)

Anonymous Coward | about a year and a half ago | (#42000583)

Except they can't force anything. That's kinda the point of Bitcoin's design.

Re:Interesting (1)

drinkypoo (153816) | about a year and a half ago | (#42000339)

Yeah, that or the big banks are about to vaporize it, arresting all the key players in bitcoin on some kind of bullshit currency fraud charges.

Wow... (0)

Anonymous Coward | about a year and a half ago | (#42000355)

Holy fuck Slashdot becomes the twilight zone before 8 AM EST. 80% of these posts are grade A crazy.
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