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  #1  
Old 05-14-2018, 04:54 PM
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Default PAYMENT QUESTiON FOR FORUM SPONSORS

Simple question for our forum sponsors.

Do any of you accept Crypto currencies as payment? Bitcoin/Ethereum, etc? (either direct p2p exchange or through bitpay, etc)

If so, please send me a PM if you'd like to make a sale.

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  #2  
Old 05-15-2018, 11:33 AM
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Ok i assume the answer is NO, nobody accepts crypto currencies

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  #3  
Old 05-15-2018, 03:02 PM
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Be glad you didn't get a reply.....if they told ya, they'd have to....... well, you know

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Old 05-15-2018, 05:13 PM
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Originally Posted by Gauntlet View post
Be glad you didn't get a reply.....if they told ya, they'd have to....... well, you know
First one to begin accepting crypto will have a big edge over the competition. I'd be first in line to buy.

Hey sponsors, look into Bitpay!

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  #5  
Old 05-16-2018, 10:46 AM
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Originally Posted by Swinglow View post
First one to begin accepting crypto will have a big edge over the competition.
Not really. It would be an even bigger headache than accepting payment in a foreign currency.

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Old 05-17-2018, 09:08 AM
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Originally Posted by Swinglow View post
First one to begin accepting crypto will have a big edge over the competition. I'd be first in line to buy.

Hey sponsors, look into Bitpay!
I think I'd heard Amazon accepts it, if you support people like Jeff Bozos

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  #7  
Old 05-17-2018, 10:32 AM
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"sure, I'll take payment in crypto" - 2 minutes later that payment is worth half what I accepted. LOL

Anyone accepting cryptos would be gambling with their earnings, not to mention they have to pay to exchange it.

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Old 05-17-2018, 11:30 AM
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Personally, i feel that anyone who accepts cryptocurrencies is gambling that no new development in mathematics will make factoring much easier than it is today. I'd sooner take payment in valuable tulip bulbs (students of history will get the reference), because even if they crash, they will grow into pretty flowers.

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P.S. I don't deal in metal detectors. I'm not that driven that I could run a successful business.

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  #9  
Old 05-21-2018, 11:43 AM
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Originally Posted by Rudy View post
Not really. It would be an even bigger headache than accepting payment in a foreign currency.
Originally Posted by Jason in Enid View post
"sure, I'll take payment in crypto" - 2 minutes later that payment is worth half what I accepted. LOL

Anyone accepting cryptos would be gambling with their earnings, not to mention they have to pay to exchange it.
Neither of you understands how bitpay works based on those comments.

The funds automatically convert to dollars or whatever local currency the seller desires so there is no market fluctuations to deal with. Not only that, the transaction fees are lower than credit cards or paypal. That means higher margins for the seller.

I know many coin dealers and other businesses that accept crypto and their businesses have expanded considerably as a result. You can knock it all you want. The early adopters will benefit.

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  #10  
Old 05-21-2018, 11:58 AM
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I think just the word CRYPTO puts up a huge red flag for most people.
It is surrounded in mystery, therefore people tend to steer clear of it.. Perhaps if they touted it as something different from the get go.. but they did not

Think about Crypto Zoology

noun
1. the study of evidence tending to substantiate the existence of, or the search for, creatures whose reported existence is unproved, as the Big Foot, Abominable Snowman or the Loch Ness monster.

or just the definition Crypto

noun
1. a person who secretly supports or adheres to a group, party, or belief.

adjective
2. secret or hidden; not publicly admitted:

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  #11  
Old 05-21-2018, 10:11 PM
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Originally Posted by Swinglow View post
Neither of you understands how bitpay works based on those comments.

The funds automatically convert to dollars or whatever local currency the seller desires so there is no market fluctuations to deal with. Not only that, the transaction fees are lower than credit cards or paypal. That means higher margins for the seller.

I know many coin dealers and other businesses that accept crypto and their businesses have expanded considerably as a result. You can knock it all you want. The early adopters will benefit.
Your original post was asking about cryptocurrencies in general. Yes, you gave a couple of examples, bitpay and etherium, but each one of those works totally differently from the other. In any case, they are just two specific instances of cryptocurrencies.

Finally, the dealer's price (in the US) is dollar denominated, not in bitpay crypto currency. The dealer doesn't know what the exchange rate will be, until the bitpay crytocurrency arrives at his/her bitpay account and is then converted to dollars.

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Old 05-21-2018, 10:46 PM
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Ok what's the disadvantage of using the current currency system?

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  #13  
Old 05-21-2018, 10:54 PM
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if my customer offered to pay me with crypto, they would be disqualified as a customer. I don't take credit cards.

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  #14  
Old 05-22-2018, 04:38 PM
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cryptocurrency is too volatile for this business let alone from a sponsor who is already cutting you a deal to make a few bucks on a detector. if the transaction was instant maybe it would be ok, but it's just too risky to accept cryptocurrency for an item you're about to only make 5 or 10% on with the speed of network confirmation lately.

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  #15  
Old 05-24-2018, 12:40 PM
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This table is from a Financial web site and shows today's change in crypto
currencies value. https://finance.yahoo.com/news/bitco...222100000.html

Cryptocurrency Name (Code) Price in U.S. Dollars
Day's Change number in () is a negative change

Bitcoin (BTC) $7,594.90 (7.2%)
Ethereum (ETH) $588.48 (11.8%)
Ripple (XRP) $0.61 (8.4%)
Bitcoin Cash (BCH) $1,027.70 (11.7%)
EOS (EOS) $10.81 (16.7%)
Litecoin (LTC) $120.66 (7.6%)
Cardano (ADA) $0.21 (13.5%)
Stellar (XLM) $0.28 (9.4%)
TRON (TRX) $0.07 (10.8%)
IOTA (MIOTA) $1.48 (14.5%)

Why would a dealer want to do business with this risk?

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  #16  
Old 06-03-2018, 12:40 PM
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Well, I look at this issue like this.
Someone wanting to purchase a detector in USA and the only thing they have to faithfully purchase with is Bitcoin, crypto currency, etc vs real dollars or real dollar credit. Maybe these folks don't need a detector anyway.

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  #17  
Old 06-03-2018, 02:01 PM
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Originally Posted by tnsharpshooter View post
Well, I look at this issue like this.
Someone wanting to purchase a detector in USA and the only thing they have to faithfully purchase with is Bitcoin, crypto currency, etc vs real dollars or real dollar credit. Maybe these folks don't need a detector anyway.
OR
Maybe that's why they DO need a Detector..

in order to get NON Crypto Currency..

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  #18  
Old 06-03-2018, 03:10 PM
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Originally Posted by SoOregonMd View post
OR
Maybe that's why they DO need a Detector..

in order to get NON Crypto Currency..
Lol, never thought of that.

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  #19  
Old 06-05-2018, 02:05 PM
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Originally Posted by Rudy View post
This table is from a Financial web site and shows today's change in crypto
currencies value. https://finance.yahoo.com/news/bitco...222100000.html

Cryptocurrency Name (Code) Price in U.S. Dollars
Day's Change number in () is a negative change

Bitcoin (BTC) $7,594.90 (7.2%)
Ethereum (ETH) $588.48 (11.8%)
Ripple (XRP) $0.61 (8.4%)
Bitcoin Cash (BCH) $1,027.70 (11.7%)
EOS (EOS) $10.81 (16.7%)
Litecoin (LTC) $120.66 (7.6%)
Cardano (ADA) $0.21 (13.5%)
Stellar (XLM) $0.28 (9.4%)
TRON (TRX) $0.07 (10.8%)
IOTA (MIOTA) $1.48 (14.5%)

Why would a dealer want to do business with this risk?
Again, you're wrong and do not understand how bitpay works.



I have a detector for sale and a bitpay account. You have bitcoin and want to buy my detector. YOU pay with your bitcoin, bitpay converts it to dollars or whatever currency I choose, they take their 1% fee which is considerably less than visa, and you get DOLLARS (or whatever currency you choose) in your bitpay account instantly. You do NOT receive the underlying crypto currency.

There are no currency fluctuations to consider for the seller so whether btc is up 10% or down 20%, makes no differnce for the seller. They still get their sale price in dollars.

I understand it's scary and new to some but i've explained how this works and you keep coming back to the same point, which is not correct.

Do you understand the gains many crypto investors are sitting on? They are looking for things to spend that profit on. Why would it hurt to have another payment option available to your customers?

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  #20  
Old 06-05-2018, 02:07 PM
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Originally Posted by Big Treble View post
Ok what's the disadvantage of using the current currency system?
This isn't about disadvantages of the current system. I have no problem paying via check or visa. This is ANOTHER way to maximize sales.

If i'm sitting on hefty investment gains and have the option to shop using bitpay vs converting back to dollars through the exchanges, you bet your butt i'm going that route.

I just bought an equinox, paid for 100% with crypto profits. If any of our sponsors accepted bitpay, they'd get a lot more business from me and i'm sure others.

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