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I think the first half of your statement is true (employing a third-party service to take Bitcoin) but the second half (automatically exchanging them to USD) is
by jedc 13y ago
I think the first half of your statement is true (employing a third-party service to take Bitcoin) but the second half (automatically exchanging them to USD) is an assumption that can change over time as Zynga gets comfortable managing Bitcoin.
I would think it's valuable for the entire Bitcoin network to have more merchants accepting it than less, so how is Zynga accepting Bitcoin a bad thing?
- poolpool 13y agoThey are not accepting bitcoin. They are partnering with a company to handle whatever needs to be done to give them real live USD they can put in their bank accounts. They are still only accepting USD: just making it easier for people with bitcoin to give USD to them.
- shawabawa3 13y agoWhat they do with the payment after receiving it is irrelevant. You can pay using bitcoin. It doesn't make any difference to the customer that it's going through another company and getting converted to USD
- triptychs 13y agoThe thing to remember here is that people are changing USD > BTC, paying with BTC, and then that BTC is going back to USD. What's the point? This accomplishes nothing other than allowing Bitcoin exchanges to collect tx fees between customers and Zynga. It's non-conducive to adoption. On the other hand, if Zynga were holding BTC, paying employees in BTC, and those employees started consuming with BTC, then they would actually be "using" it. Otherwise it's the same exact thing as punching in your credit card details.
- poolpool 13y agoYes and I can pay for everything with euros in the United States by that logic. All I have to do is go to a friendly bank on the corner and convert to USD.
- shawabawa3 13y agoNo, that's completely different logic. You can pay for something with euros in the US as long as they accept it, even if after all they do is go to the bank and convert to USD.
- ericb 13y ago> They are not accepting bitcoin. They are partnering with a company to handle whatever needs to be done to give them real live USD they can put in their bank accounts. They are not accepting real USD. They are partnering with a company to handle whatever needs to be done to give them real live USD they can put in their bank accounts. hint: This is how merchant accounts with payment processors work.
- drcode 13y agoThis is like arguing that accepting credit cards means you don't accept dollars, because no green pieces of paper are being exchanged.