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I would consider the implicit reason why a vendor might accept bitcoin. Accepting bitcoin is akin to free advertising for ones' company since bitcoin has so muc
by goldenkey 13y ago
I would consider the implicit reason why a vendor might accept bitcoin. Accepting bitcoin is akin to free advertising for ones' company since bitcoin has so much buzz.
The business-logic-related reasons for accepting bitcoin are far and few considering how volatile it is and the non-instant transaction verification delay.
- bunderbunder 13y agoThere's a couple others: No chargebacks, no international transaction fees, and as long as the volatility leans in an upward direction then $X in BTC that you sit on for a few days before converting to local currency generally turns out to be more than $X in realized revenue.
- lukifer 13y agoWordPress got on board with accepting BitCoin early, primarily as a way to accept payments from countries not supported by PayPal: http://en.blog.wordpress.com/2012/11/15/pay-another-way-bitcoin/ http://en.blog.wordpress.com/2012/11/15/pay-another-way-bitc... Promotional purposes notwithstanding, the best legitimate use cases for accepting BTC so far seem to be online services (web hosting, domains), where the transaction delay and risk of double-spend isn't a big deal; and charities, who risk little and potentially gain much by publishing an address for a donation wallet.