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I took ads off my site and replaced with Bitcoin donations, it didn't work.
- muppetman 13y agoI wanted to donate to my favourite private tracker recently. They only take bitcoin. So I thought no worries, I'll sign up to coinbase. They were the suggested easy-to-sign-up-to way to get bitcoins. (I don't know about wallets or mining, I'm just your average Internet joe) They wanted copies of my passport and drivers license. I laughed and closed my newly created account. Until the process of being able to get bitcoins is simple and easy, expecting people to part with them for donations is unrealistic in my opinion. (Please don't follow up with 20 "easy" ways I could have gotten bitcoins, after that experience I really don't care)
- astrowilliam 13y agoThat's weird. When I signed up with Coinbase I didn't have to supply any of that information. Are you based outside the USA?
- muppetman 13y agoYes, I live in New Zealand. As another poster has said, it appears to be due to US money laundering laws.
- astrowilliam 13y agoAhh, ok. That would explain it. I can see their point, it helps cut down on illegal activity. But it's also a pain for users like yourself who would have really enjoyed their service.
- mikepurvis 13y agoI'm in a similar position—I'd like to purchase a small amount of BTC, but am not willing to use my credit card or send photocopies of ID papers over the internet to do so. I suspect that I should simply attend a meetup in my city and do an in-person transaction for cash. But all of that is additionally complicated by the fact that I don't use a smartphone. :)
- boyter 13y agoIf you are prepared to take a hit on multiple exchanges you can buy Bitcoin using https://www.virwox.com/ https://www.virwox.com/ using Paypal. You input Dollars use that to buy Linden then use that to buy Bitcoin. You pay exchange fees for each transaction, and you are limited to small amounts each month till you gain credibility, but it is possible.
- ossreality 13y ago>(Please don't follow up with 20 "easy" ways I could have gotten bitcoins, after that experience I really don't care) I know no one can see it, but fuck you for even writing that. "I'm ignorant and don't want to be enlightened" What a fucking pathetic attitude to have displayed as a top comment on an HN submission.
- ekianjo 13y ago> They wanted copies of my passport and drivers license. If you go to a bank and try to create a bank account, do you laugh when they ask you for your ID and proof of residence? :)
- eropple 13y agoThis isn't a good comparison. I have no reason to trust Coinbase and my options for recourse are minimal if they end up being shitty. My bank is an institution with capital assets in my city. I know where they are. They have an address and it's local. I can talk to a manager, face to face, if there is a problem. (And have.) (And my bank has a better security record than Bitcoin companies have thus far shown, besides.)
- yukinon 13y agoHow do you feel about online banks, like Ally?
- eropple 13y agoI don't use them. I like having someone whose office I can sit in and very politely refuse to leave until things work out to everyone's satisfaction.
- JohnTHaller 13y agoAlly is a bank and regulated as one, even though they're 'online'. Coinbase is not regulated as a bank. They're not even regulated under the much looser guidelines of a money transmitter.
- ekianjo 13y agoYeah, but bitcoin businesses may have to follow the same regulations no matter what if they considered as dealing currencies (depends on your local jurisdiction). That's what it boils down to. It's probably not Coinbase who independently implemented this requirement.
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- sroerick 13y agoIt's important to note that this is to comply with US money laundering laws. There's no technical reason for this to be the case.
- muppetman 13y agoAhhh ok, thank you, I wasn't aware of that. Why isn't it the case with Paypal etc?
- RussianCow 13y agoPresumably because PayPal transactions are reversible; Bitcoin transactions are not.
- rtpg 13y agoIf you try to put money into Paypal you'll likely create some link with a verified source (credit card, bank account). So if some investigation were to happen Paypal at least has some hints as to your real identity. With coinbase people could put in their (mined) bitcoins, and then sell them. In that case Coinbase has effectively no way of figuring out who you are.
- stingraycharles 13y agoWhat happens with the money after you sell them? That has to go somewhere, and couldn't that create the "link" required?
- rtpg 13y agoYeah I thought of that, I think banks/money handling services have responsibilities before the actual pulling out though (probably like how pawn shops can't accept goods without ID).
- jonknee 13y agoPayPal is a reversible transaction where they know their customer (who you are paying), so they don't take risk when accepting your credit card. In BTC unless you have it already you need to become the customer of an exchange to first buy BTC and the laws there make it such that they need government ID. There are alternatives like mining it yourself (very hard) or meeting someone in person and paying cash (you'll pay a premium).
- SilasX 13y agoTrue, if you use a third party, you lose many of the benefits of Bitcoin, and the existing client programs may not be very good at helping you integrate. But you don't need to use a third party, so you don't need to give anyone any ID (or put up with their hassles), so long as you just want to receive BTC without converting back. You just download a bitcoin client, and it generates addresses for you. Give out the address, and you're done -- people know where to sent it, and you can receive them. Naturally, you'd want to make sure the private keys to those generated addresses are backed up and safe.
- ekianjo 13y ago> But you don't need to use a third party But how do you get bitcoins in the first place without going through an Exchange ?
- SilasX 13y agoAh, seems I misunderstood the situation -- I was thinking of the article's use case (of simply wanting to receive BTC as donations) rather than the GGP's problem, which was getting the BTC in order to donate.
- muppetman 13y agoI just wanted to donate money though. Even if I download a wallet app thing, how do I transfer my actual currency to BTC? I still need an exchange don't I? Then I buy "already mined" coins in exchange for my dollars, so I can then donate them.
- jonknee 13y agoThat's the problem, it's only easy to get BTC from someone else with BTC. It's hard to get BTC for USD and get USD for BTC. Most USD transactions that are not in cash are reversible and no BTC transactions are, that makes it very tough to get BTC on the internet. Add in all the know your customer laws to prevent money laundering and it's very difficult to exchange BTC for USB without effectively setting up a new bank account.
- ojr 13y agoThey didnt ask for my passport and drivers license because I live in the US but if they did it wouldn't push me away, its not like I have a million dollars to money launder, and in the group of Bitcoin users, I am a small fish I got rejected from one exchange that asked for a driver's license and proof of address, my driver license was ok but my proof of address was not, three days later that same exchange, MtGox, goes down. It is very easy to call a Bitcoin-based company a joke but I think Coinbase is a legitimate company.
- j_s 13y agohttps://www.tinkercoin.com/ https://www.tinkercoin.com/ will be nice, $20 worth of BitCoin one time.
- jcampbell1 13y ago> private tracker Just to be clear, this is some sort of bittorrent thing that operates somewhere between gray and black. You want to donate, but aren't interested in having your name tied to it?
- muppetman 13y agoCorrect. Nor are they interested in having their name tied to the transaction either I guess!
- windsurfer 13y agoI think the most interesting takeaway is that he was making $60 per 60,000 readers, or $0.001 CPV. Is that normal?
- bsilvereagle 13y ago$6CPM (cost per thousand views) for an established niche site seems a little on the high side but not unheard of. Edit: Math eluded me, it's $1CPM which as others have said is pretty low.
- deleted 13y ago[deleted]
- goeric 13y ago60K views for $6 would be $0.10 CPM. His was 60k views for $60 which is $1 CPM.
- sharkweek 13y agoHe's only getting $1CPM here -- which is really low The average on sites I run is around $5CPM -- during times of big budget spends (normally toward the end of fiscal quarters) I see this go up quite a bit.
- nkozyra 13y agoI wouldn't say $1 RPM is "really low," at least not for Adsense. I would say going south of that would start to qualify, but I think the absolute average is around $1.30.
- boyter 13y agoI would love to even get $1CPM on a site I run. I get 5,000 unique's a day but make very little cash. It might be due to the nature of the site though as its aimed a programmers.
- 13y ago
- IvyMike 13y agoI'm very curious how much bitcoin traffic "normal" businesses actually see. (You know, non-bitcoin, non-privacy companies selling mundane products.) I suspect very little since everyone I know who talks about bitcoin is holding but maybe one of you out there has actual numbers.
- dangrossman 13y agoI still run a few eCommerce stores in various niches that take 5-15 orders a day. Not high volume, but still active. They mostly have the same checkout flow, with a credit card payment form, alongside "Pay with PayPal" and "Check out with Amazon" buttons on the side, which do get used frequently. I added a "Pay with Bitcoin" button from Coinbase under those several months ago, and a grand total of one person has ever used it, and that person spent about $2 on the cheapest thing I sell.
- sireat 13y agoI'll give you buyer's side. When BTC was over $1000 I was buying things left and right (Namecheap, Gyft etc etc). Now that BTC is hovering around $400-600 I am in a holding pattern. As top post alludes it is very hard for someone new to BTC to buy BTC in a reasonable manner without expensive surcharges. Mass adoption will not happen until someone comes up with a clever solution to this.
- boyter 13y agoI have to wonder how much of this is by not being genuine about asking for donations. I didn't see the buttons on the page so not sure how this was done but asking for donations can work if you are genuine about asking for them. The best example I can think of is on the no agenda show. They literally have a segment of the podcast where the hosts ask for money. Its not begging, but a genuine "Provide money for value" proposition. You can hear about this business model on this podcast (Techzing) http://techzinglive.com/page/235/techzing-50-the-real-dvorak http://techzinglive.com/page/235/techzing-50-the-real-dvorak Another lesser example I can think of is Cord Killers which uses a middleman (patreon) http://www.cordkillers.com/ http://www.cordkillers.com/ but is essentially the same idea, where you ask for support and if you don't get it you don't provide the service. It's possible this only works for people with existing audiences though as both the examples did.
- largote 13y agoOf course it didn't work...
- diziet 13y agoHow many monthly pageviews are you receiving? What percentage of your userbase has bitcoin fund available?
- LeoNatan25 13y agoExpecting an immediate return of investment is a little naive at best and stupid at worst. Such a change has to be communicated properly to visitors. They have to be accustomed to the donation option. Most probably are not aware of BitCoin, or have heard bad things about it. Sounds like he didn't want it to succeed.
- astrowilliam 13y agoI truly did want it to succeed, but I'm a content guy, not a business guy. Maybe that's my problem. I'm 1 guy trying to do the job of 5-10 people while holding down a demanding day job.
- downandout 13y agoThe begging model definitely does not work, and it is a disservice to yourself and any other stakeholders in your site. It annoys users and produces minuscule revenue compared to advertising. While some will disagree with me, a perfect example of this is Wikipedia. They could implement ads without any of the nonsensical negative consequences they claim to be afraid of and generate billions of dollars in the process. That money could go to improving and supporting the site, and since they don't seem to want profits, to massive donations to causes important to Wikipedia and its users. Unfortunately, they have chosen to annoy users and deprive important causes of billions of dollars. Just say no to begging.
- johnward 13y agoWikipedia begging really annoys me
- quadrangle 13y agoBigger point: ads amount to not being paid for your work on your site but just being paid to hock crap to suckers. By making a cool site, the sleazy ad biz thinks you're cool enough to be one of their salesman. Despite the intertwining, you are getting paid to be a sleazy salesperson and you are making a cool website on the side. Making cool websites is hard to make pay the bills. Putting ads in people's faces is just one of many bullshit things you could do to otherwise pay your bills.
- astrowilliam 13y agoWoah, that was weird. This thread was #1 for around an hour and it jumped down to #37 almost instantly. I wonder what happened. Can an admin explain? I'm genuinely curious about the algorithm that would cause this.
- lenkendall 13y agoWe should talk William. I run CentUp.org and we use standard currency versus something like Butcoin. Half the battle is having people be able to pay you easily (BTC is not an easy option for the average consumer) and the other half is incentivizing your audience to give you donations. I'm Len at CentUp dot org if you want to chat.
- astrowilliam 13y agoI'll be in touch. I'm open to anything at this point. This whole bitcoin donation thing was a great experiment and I would really like to pay for the site without any ads. I hate ads.
- lenkendall 13y agoWe should talk William. I run CentUp.org and we use standard currency versus something like Butcoin. Half the battle is having people be able to pay you easily (BTC is not an easy option for the average consumer) and the other half is incentivizing your audience to give you donations. I'm Len at CentUp dot org if you want to chat.
- chmod775 13y agoIn the past month I have received roughly 100 € ($130) in donations. I am running a much smaller site, Volafile.io, with maybe 200-500 daily users (most stay over a period of a few hours). I decided against ads and instead decided to support the site with donations. One hundred euro cover my expenses for about two and a half month. (I also give 10% to the EFF) I assume that for most people the main reason to donate is because they feel the site is providing value to them. Value they can actively experience. In return for their generosity I don't impose any limits on them. You can upload any amount of files without limits, download as much as you want, without countdowns or the like and you don't even need to register. Reminding users of the value you're providing is key to getting them to support your project. And this is where he made the biggest mistakes: - He put donation button at the top of the articles If the user hasn't read your article, you didn't provide anything valuable to him yet. Place it at the bottom. - He put the donation there without any explanation What do you need the donations for? Are you some cooperation trying to squeeze a few extra-bucks or just some poor guy trying to keep his website afloat? - The donation button is just slapped on the page It not only looks like he didn't spend more than a few minutes integrating it on the page, it almost looks sketchy. Guide users through an additional page telling them what you'll do with their money in a few sentences. And I didn't even see his bitcoin donation button at first because it's on the opposite to the much more visibly placed paypal donation button. Even more so if you are using NoScript. Those are just my few cents. I don't know if they'll help him if he's going to stop supporting his page with donations, but they should at least be of some use to someone else.