Topic: Bitcoin only Businesses that reject all fiat - page 2. (Read 7020 times)

Please can you add "https" to our link ? Thank you

While I do not have time to do a complete investigation on all sites submitted I do perform a very quick check and will have to leave off simpleswap.me because of the lack of a SSL cert which is either extremely irresponsible or hint that it is a scam. Will reconsider once they fix that and we get some more feedback.

I found another candidate - https://coingateway.net

and  bitrefill.com is an excellent suggestion. Thank you kind sir. 

Well, I understand and appreciate your logic. I updated my previous post and added another exchange SimpleSwap.me, which you probably missed. Please note that, I have never used these bitin.io/simpleswap.me. So, I can not vouch for their authenticity like I can do for LocalBitcoins/100bit.co.in.

By the way, you may add a bitcoin only recharge platform - bitrefill.com. Though they are using Bitpay and hence indirectly dumping coins for FIAT.

Nice!!

Will be adding them here:
https://wherebits.com

I see what you are suggesting as they only are the arbitrators or escrow agents in the transaction. This is somewhat of a grey area where I will fall on the side of leaving them off as they facilitate people selling their bitcoin for fiat which is not what this list is intended to promote. I like those sites and they are very important to our ecosystem but this list is to highlight businesses who purposely reject all fiat and take a principled stand with not facilitating it either.

Thanks for your suggestion of Bitin.io , I added that too.


Yes, I'm on the fence about listing them, but will leave them off as they do assist people in getting rid of their Bitcoin where this list is intended to encourage people to stay within the crypto currency ecosystem.

I realize that some or most of bitcoin spent with businesses in this directory will be eventually converted to fiat and it is unrealistic for most people to completely stop transacting in fiat. I am being realistic about taking small steps to help promote businesses that have a very slight benefit to our ecosystem. With enough effort and time these businesses can help bolster and strengthen our community and encourage other businesses to join.

I would agree. They both will only ever hold customer bitcoin, and will both never touch customer fiat. The fiat involved in transactions will only be sent directly from the bitcoin buyer to the bitcoin seller

As a business, neither LocalBitcoins nor 100bit.co.in accept FIAT. Users can exchange FIAT through them.

Yes, you can add ShapeShift.io, Bitin.io, Simpleswap.me etc. too...

Thanks, but those both accept Fiat.


Your suggestion is rather odd as those 2 exchanges Raison d'être is to exchange fiat for cryptocurrencies.

You would have to suggest exchanges like shapeshift.io which only deal in crypto, which I suppose I can start adding.

My apology

I think, www.LocalBitcoins.com & www.100bit.co.in can be added to the list. Both are trading platform that does not accept FIAT.

This won't be added to the list as it accepts others payment methods as well. Didn't you read the topic title and the OP?

hostdingle web hosting also accepting bitcoin payment

Nice list ... like the beginnings of Alibaba for bitcoin.

Wonder what wallet s/ware, services etc these businesses are using for shifting btc around and how much it touches fiat in the background, or if at all?

Added 2 host companies

https://bithost.io                         Cloud hosting per hour
http://www.cleverpuffin.com        Web Hosting

Great, i've bought small amounts of silver in the past with amagi, decent dealers and good support. May try to buy some small time metals in the future with BTC to test it out.

Added - https://bitroses.com/
http://pokemonbtc.com/
http://bannersforbitcoins.com/

That is why it would have to be a side business or hobby. Additionally, many people living in more rural areas or that are self sufficient don't need much of an income and have their own gardens and trade and barter locally. Some of the businesses in that directory likely do that as well. I.E..  Technically I can live with a salary less than 2k a year If I wanted to as I am almost completely self sufficient on my permaculture farm. Fiat income does not necessarily equal quality of life either... some of us live in paradise for almost nothing.


Many ways to do this....

1) deposit btc in publicly audible blockchain address where clients can see their purchases deposit in realtime and audit the business is keeping their word. Reputation would be maintained and easily verified by anyone auditing at any time. All outputs would be seen in realtime and ruin the businesses reputation.

2) payments made to multisig address where a majority of keys held by outside escrow agents to insure that funds aren't spent beforehand

3) Payments transferred immediately using nLockTime or soon to be incorporated checklocktimeverify to lock the btc on the blockchain and make them impossible to spend within a certain amount of time. This could be verified and audited in a decentralized matter like option 1.

Valid reasoning, but I still can't really believe that you can just live off of the income generated by a shop only accepting BTC. Even if you ran that shop without paying taxes, etc. it wouldn't be enough, most likely. Creating a shop that keeps the BTC is a great way to attract Bitcoin enthusiasts, but how are you able to prove you're not spending the coins at some point over the next 5 years!?

If you look through the list you can see that most of the businesses are unlikely to be  offshoot "brands" for the sake of targeting bitcoin enthusiasts. I would expect many of these businesses to accept fiat in person, but the fact that their website only accepts bitcoin does somewhat limit the amount of fiat they take in. I am under no misapprehension that most of the btc gets turned into fiat and vice versa for all businesses. The point is there is a greater probability that a certain percentage of bitcoin stays within our ecosystem with these businesses and that is good enough at this stage. Just like how overstock keeps 10% in BTC (despite that a percentage   of it may eventually be turned into fiat when they offer to pay their employees bonuses in bitcoin.) This delay in leaking to fiat and or the fact that a certain percentage will keep some in bitcoin will help our ecosystem.

This discussion does bring up another business idea or opportunity. Create bitcoin only accepting businesses that hold profits in bitcoin (which can be proven and verified on the blockchain) for a certain set of time (1-5 years). It would have to be examples where it is a side business or hobby and the owner is in bitcoin for the long haul. Another concern for this idea is the tax implications of amassing such a store of bitcoin so may be better suited for businesses that are anonymous in nature and /or offer digital products and services.

Well isn't it also quite conceivable that those are just "brands" or "branches" of existing companies or stores, only created with the intention of attracting Bitcoin business? People who like Bitcoin accept it, because it's their 'hobby'. They're into Bitcoin because they want to help its adoption. They won't quit just because sales are low at the beginning.