Topic: . - page 3. (Read 19702 times)

If you just go over to the left a bit, there is a button marked ignore. Mine is bright orange to help you find it. I suggest you click that button.

Whatever else you might be, you are clearly a filthy-mouthed, mean-spirited, little blow-hard who has no qualms leaving the refuse of your mind all over otherwise civil, well-meaning public forums.

You can see an effect here: http://stats.grok.se/en/latest30/Bitcoin

Great news!

I won't be surprised if more and more sites will follow. Go bitcoin!

Have you heard of supply and demand? Or is this going to be hopeless?

No. I'm an economist. If the managers aren't greedy, I want the managers replaced.

It is possible that CC company greed is interfering with greed further down in the chain. If so, I blame the state for failing to adequately regulate CC companies.

Assuming that BitPay and Wordpress are well-managed (big assumption), BitPay is giving Wordpress a significant discount on its advertised processing fee, and Wordpress is passing part
of the savings on to customers.

 [It is also possible that the CC cartel interferes with this. Funny thing about bitcoin libertarians. They like cartels, but cartels fuck them anally. Does this mean libertarians are bottoms?]

If wordpress does not do this, then bitcoin will not be used by a meaningful number of Wordpress customers. If bitcoin is not used by a meaningful number of wordpress customers,
then bitcoin adoption will negatively affect wordpress' bottom line.

Payoff = Additional Margin from Bitcoin Payment vs. CC (negligible without volume) + Additional Customers who can only access bitcoin (absolutely negligible) - Adoption cost

This will be negative unless a discount is offered to increase the volume of BTC payments.

To sum up in different words. BitPay claims that the CC companies are taking 11% on some wordpress payments vs. ~3% via BitPay. Wordpress should introduce an incentive for customers to use bitcoins so that
it can earn larger margins. Otherwise, what is the point for Wordpress? Customers are not going to use bitcoin for the hell of it. I don't get any miles when I pay with bitcoin. Unless there is a discount, I pay with my card every single time.

Why would they give discount if they have to pay a fee to the BitPay similarly as they would pay to PayPal ?

Also, even if they processed the Bitcoins themselves, they would still have to convert BTC to dollars anyway, so there is another small loss in the process of exchange.

Just wait till the Somali pirates starts learning about bitcoin!

Perhaps we will see pirates with EMG weapons, and shippers will get this threat:

"Pay 200K bitcoins to 1asxddffsa3334r541234 within 12 hours, or expect all your ships passing woddoloddidoo waters to be incapacitated for the following week."

What sort of thing does a $5 (or any price) WP upgrade get you? I think I saw numbers of like $45 mil for WP last year, but I don't know if that is revenue or profit, are lots of people buying upgrades?

Are they offering any type of discount for bitcoin use?
If yes, what kind?
If no, why not?

~1% is just the extra fee, they also pad the rate.

For a $5 wordpress upgrade, collecting from any foreign country, PayPal will take 30 cents plus 3.9% plus their 1% margin on the exchange.  so in total, about 11% processing fee.

If those are the types of fees a company has been paying for the last 15 years, they would not bat an eye at our 2.69% all-inclusive fee.

LOL. "Wanted Nigerian Scammer who accepts bitcoin" I can't wait to see that blow up in your face.

Don't forget that when a merchant like WordPress receives PayPal payment from customers in other countries, they get charged "cross border fees" of an additional amount (~1% extra).
 - https://www.paypal.com/us/cgi-bin/?cmd=_display-xborder-fees-outside


This also lets WordPress customers take advantage of the frequent opportunity to arbitrage.  There will be instances where the price (in USDs) is more expensive to pay than if that customer were to buy bitcoins using the local rate for bitcoins due to exchanges not always being price efficient.

For instance, at this moment BTC/USD is $11.52.  So if I was making a $11.52 purchase from WordPress, I would be asked to pay 1.0 BTC.    At this moment the EUR/USD is 1.2727 and let's say the BTC/EUR was 8.7 EUR.  That would let the customer pay using bitcoins and see a discount versus if paying using EURs, as those 8.7 EUR would convert to $11.02 USD using the current EUR/USD exchange rate but they buy 1.0 BTC which satisfies the amount on the WordPress invoice.

These differences will normally only be a few percent but there are times (like today) where these opportunities to perform purchase price arbitrage are possible to the WordPress customer.

Additionally, WordPress (or parent Automaticc) likely pays freelancers for help and those freelancers will probably be among the first to realize that if WordPress is accepting bitcoins that WordPress might also be willing to send payment in bitcoins as well (versus whatever current method is used -- such as an expensive bank wire).    When that happens WordPress may just change their payout conversion settings so that some of the revenues are kept as BTCs.

It may already be that WordPress is paying for help (e.g., freelancers) with bitcoins, and now adding bitcoins as a payment method for its revenue stream gives them a cheaper method to acquire bitcoins than buying through an exchange.     That's probably not the case here with WordPress, but this undoubtedly will be the catalyst triggering much follow-on commerce where bitcoins are used for payment.

Thanks to your post, I discovered Heather Mansfield.

This is like how reddit will find some person in need and shower them with donations and gifts. Some examples of this crowd philanthropy, which of course would be much easier in bitcoins: http://mashable.com/2012/05/24/reddit-social-good/

Bitcoin is a tidal wave of human interest stories just waiting to happen. If this were to catch on, when it comes time for the regulators to crack down there could be a huge public outcry.

Search around the internet for some kids in Africa with a blog site on Wordpress.  Convince them to accept donations in bitcoins, a handful of us chip in, and with like 3 BTC they can upgrade and improve their blog.

Personalize this in a touching human story about one blogger who was enabled by Bitcoin and we'd have powerful PR . This kind of thing is perfect for Bitcoin's image, and is a perfect antidote to the "black market" and "money laundering" image.

I seriously hope you're not suggesting London has a good freedom of speech track record. They love sending bloggers and twitterers to jail.

Momentum?