2014-04-11 CoinDesk - Chicago Sun-Times Gets 11% of New Subscriptions in Bitcoin

byt411

hero member

Activity: 798

Merit: 1000

Quote from: Bit_Happy on April 13, 2014, 02:42:55 PM

Bitcoin needs an improved fee system so tiny micro payments are possible/practical.
...along with low fees for huge amounts.

I agree.
How would that work?
The price of bitcoin must go up until 1 satoshi is used as a tx fee, and 1000 satoshis can actually be used to buy something.

jdun

member

Activity: 84

Merit: 10

This is awesome news! and further supports the idea that accepting bitcoin can help a company achieve a new revenue stream.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

For people here thinking that the Chicago Sun-Times is some neighborhood news paper with just a few thousands in circulation: the daily is owned by the Sun-Times Media Group, and the circulation is around 500,000 copies / day.

BitOnyx

member

Activity: 112

Merit: 10

Cryptocurrencies Exchange

It is interesting news.

I wonder if any one else would like to take advantage of it. 10% is a lot!

Bit_Happy

legendary

Activity: 2100

Merit: 1040

A Great Time to Start Something!

Bitcoin needs an improved fee system so tiny micro payments are possible/practical.
...along with low fees for huge amounts.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

I am sure that 90% of those people would have gone elsewhere had they not accepted Bitcoins. That means that the decision to accept Bitcoins resulted in a 10% rise in subscriber numbers for the Chicago Sun-Times. Grin

FeedbackLoop

hero member

Activity: 742

Merit: 500

Thanks for posting. These parts really highlight an enormous advantage Bitcoin has over legacy payment systems with regards to small purchases making "pay-for-story" possible:

"The paper launched a voluntary paywall trial in February and it was a success – receiving small donations from more than 700 readers."

...

"However, bitcoin has the potential to offer custom subscriptions or even an ‘a la carte’ approach to paywalls. In other words, readers could simply buy a single story rather than a full subscription.

This is not practical with traditional payments services, as the fees are too high – few people would be willing to “buy” a news piece or column for $0.50 and pay a $2-$3 fee on top of it."

They talk about fees but I think the main disadvantage with legacy systems like credit cards is the enormous hassle you have to go through to make a payment when compared with Bitcoin.

TheIrishman

legendary

Activity: 1049

Merit: 1006

Chicago Sun-Times Gets 11% of New Subscriptions in Bitcoin

http://www.coindesk.com/chicago-sun-times-gets-11-new-subscriptions-bitcoin/

Topic: 2014-04-11 CoinDesk - Chicago Sun-Times Gets 11% of New Subscriptions in Bitcoin (Read 862 times)