3 ms·
At Scribophile, I set up an option to pay for a membership upgrade directly with Bitcoin, i.e., without an intermediary to USD like Coinbase. Customers would be
by acabal 8y ago
At Scribophile, I set up an option to pay for a membership upgrade directly with Bitcoin, i.e., without an intermediary to USD like Coinbase. Customers would be given a Bitcoin address to send a certain amount of Bitcoin to for a 1-year upgrade purchase, and once the transaction was verified, their account would be upgraded.
In the ~5 years we had the option, I think we had about 3 purchases with Bitcoin.
I kept it as an option for a long time because I was mildly interested in the philosophy of Bitcoin. That is, its use as an alternate currency for everyday transactions, not its use as an intermediary for USD transactions or its use as a Ponzi scheme to separate the stupid from their savings.
But with such a poor sales rate I finally removed it some time last year. It was interesting while it lasted but Bitcoin is clearly nowhere near being useful for e.g. buying a bag of flour.
After some thought I decided that the entire cryptocurrency space, in its current pump-and-dump/outright scam incarnation, is mostly stupid, and unethical at best and criminal at worst. I could have kept Bitcoin payment as an option indefinitely--it's not hard to keep a static page up--but I felt that doing so would be in some small way promoting an unethical industry. (Unethical not because of what people are buying with crypto, but because today crypto is being used as a thinly-veiled scam to trick gullible people out of their investment money.)
- deleted 8y ago[deleted]