4 ms·

$5 via PayPal: The new Internet Model

14 points by iProject 15y ago

DiabloD3 15y ago
Why $5 via Paypal when you can send 1BTC via Bitcoin instead?
- deleted 15y ago
  [deleted]
- citricsquid 15y ago
  because very few people have bitcoins. His entire point is that $5 via Paypal is low and easy, acquiring and managing bitcoins isn't.
  - kiba 15y ago
    It is very easy to pay some dude 1 BTC. It is laughably easy to setup a bitcoin account at one of those wallet site. It can be very fast to acquire bitcoin if you're willing to pay the premium. But nobody have bitcoin, yet.
    - warkaiser 15y ago
      That's just adding another step. Every step in a transaction lowers the chance of success. Bitcoin is moot in this discussion, and moot in general.
    - Goronmon 15y ago
      It's also extremely easy to lose your bitcoins as well.
      - kiba 15y ago
        No easier than losing your data or having somebody hack into your computer. It's money, you're suppose to treat it as such.
- moonchrome 15y ago
  Because it defeats his point, everyone has paypal, nobody has BTC. In order to acquire BTC, you have to go trough custom (less reputable) payment services with your credit card because IIRC you can't even use PayPal to buy them. And on a more theoretical basis - because IIRC 1M$ of BTC purchases would raise BTC value to 10$ according to MtGox stats (I'm assuming that's the major trading market). Double that, quadruple or even multiply by 10, if there are more coins not listed at MtGox but available below 10$, it's still pocket change, probably what those comedians made from video sales alone. When comedy video sales causes your currency to swing 100% in value that's not a currency, that's a toy. It's a shallow market - because nobody is using it, arguably - nobody is using it because it's volatile, and volatility is the result of the shallow market, catch 22. So, while bitcoin is a great technical accomplishment, practically I don't see it taking of anytime soon.
- refo 15y ago
  The comments claiming that getting BTC is difficult or dangerous are absolutely incorrect. Do some work and accept payment in BTC. It's a currency implementation, not a stock.
  - Estragon 15y ago
    My main concern, if I were running a business, would be the ongoing severe fluctuations in BTC purchasing power.
    - deleted 15y ago
      [deleted]
josephjrobison 15y ago
Even more frictionless than this PayPal model is using Fiverr. I know you don't get the big names on there, but they have some amazing unique stuff on there making you wonder how they produce it for $5 (custom videos under a minute). I agree there is a lot of crap on there, but the top rated stuff can be gold.
nickfromseattle 15y ago
Louis CK was quite transparent with the results of releasing his standup for $5. Has Aziz provided any insight into his results?
vgurgov 15y ago
disclosure: I am one of my projects is videolla.com - its one of the biggest online video marketplaces. We can share some interesting stats on this. Yes, most of smart sellers sell for under 5 bucks. Its doesnts make much difference in you charge $3-4, anything that under 5 is about same conv. rate. if you are more greedy results will be lower. and yes paypal is killing it! Its our default payment method and most of buyers prefer it, since they know that its safe.

14 points by iProject 15y ago

DiabloD3 15y ago

Why $5 via Paypal when you can send 1BTC via Bitcoin instead?

deleted 15y ago
[deleted]
citricsquid 15y ago
because very few people have bitcoins. His entire point is that $5 via Paypal is low and easy, acquiring and managing bitcoins isn't.
- kiba 15y ago
  It is very easy to pay some dude 1 BTC. It is laughably easy to setup a bitcoin account at one of those wallet site. It can be very fast to acquire bitcoin if you're willing to pay the premium. But nobody have bitcoin, yet.
  - warkaiser 15y ago
    That's just adding another step. Every step in a transaction lowers the chance of success. Bitcoin is moot in this discussion, and moot in general.
  - Goronmon 15y ago
    It's also extremely easy to lose your bitcoins as well.
    - kiba 15y ago
      No easier than losing your data or having somebody hack into your computer. It's money, you're suppose to treat it as such.
moonchrome 15y ago
Because it defeats his point, everyone has paypal, nobody has BTC. In order to acquire BTC, you have to go trough custom (less reputable) payment services with your credit card because IIRC you can't even use PayPal to buy them. And on a more theoretical basis - because IIRC 1M$ of BTC purchases would raise BTC value to 10$ according to MtGox stats (I'm assuming that's the major trading market). Double that, quadruple or even multiply by 10, if there are more coins not listed at MtGox but available below 10$, it's still pocket change, probably what those comedians made from video sales alone. When comedy video sales causes your currency to swing 100% in value that's not a currency, that's a toy. It's a shallow market - because nobody is using it, arguably - nobody is using it because it's volatile, and volatility is the result of the shallow market, catch 22. So, while bitcoin is a great technical accomplishment, practically I don't see it taking of anytime soon.
refo 15y ago
The comments claiming that getting BTC is difficult or dangerous are absolutely incorrect. Do some work and accept payment in BTC. It's a currency implementation, not a stock.
- Estragon 15y ago
  My main concern, if I were running a business, would be the ongoing severe fluctuations in BTC purchasing power.
  - deleted 15y ago
    [deleted]

josephjrobison 15y ago

Even more frictionless than this PayPal model is using Fiverr. I know you don't get the big names on there, but they have some amazing unique stuff on there making you wonder how they produce it for $5 (custom videos under a minute). I agree there is a lot of crap on there, but the top rated stuff can be gold.

nickfromseattle 15y ago

Louis CK was quite transparent with the results of releasing his standup for $5. Has Aziz provided any insight into his results?

vgurgov 15y ago

disclosure: I am one of my projects is videolla.com - its one of the biggest online video marketplaces. We can share some interesting stats on this. Yes, most of smart sellers sell for under 5 bucks. Its doesnts make much difference in you charge $3-4, anything that under 5 is about same conv. rate. if you are more greedy results will be lower. and yes paypal is killing it! Its our default payment method and most of buyers prefer it, since they know that its safe.