20i Reseller Hosting

Buying/selling with Crypto?

Discussion in 'The Bar' started by ian, May 15, 2018.

  1. ian

    ian Well-Known Member

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    Interested to know whether any of you have bought or sold using cryptocurrency as the payment method? Love it or hate it, we are at the fore-front of 'the web', so it surprises me how few have adopted it.

    I know we have the "bitcoin" thread; this is more targeted at those that have done deals. Did you request to pay/sell with crypto, was it suggested to/by you, were you able to offer this method via your placehold or auction?

    I've offered it as an option, with a discount, as it is certainly a lot easier than having to mess around with Paypal, who have been terrible for me lately.

    (before anyone asks, all my tax obligations are paid in full, this isn't a means of avoidance).
     
    Last edited: May 15, 2018
  2. Domain Forum

    Acorn Domains Elite Member

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  3. JMI

    JMI Active Member Acorn Supporter

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    That's because it's a giant ponzi scheme. There's nothing behind it.
     
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  4. dee

    dee Well-Known Member Acorn Supporter

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    Would be a great option for a domain auction site if the logistics could be sorted
     
  5. aZooZa

    aZooZa Well-Known Member Exclusive Member

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    Sort of like fiat...
     
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  6. Admin Spain

    Admin Administrator Staff Member

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  7. JMI

    JMI Active Member Acorn Supporter

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    Which has a central banking system that is accountable, Gold reserves etc.
     
  8. amfletchers United Kingdom

    amfletchers Active Member

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    I'm not sure how this is in any way relevant to the original question. If you want to post about why you think it's a ponzi scheme maybe start your own thread rather than hijacking the OP's.

    To answer the original question, I have been asked to accept crypto in the past but so far have refused due to the volatility at the time.
     
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  9. JMI

    JMI Active Member Acorn Supporter

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    The OP did ask why so few people have adopted it.. I gave an opinion.
     
  10. dog

    dog Active Member

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    You need a buyer to send coin first which they don't want to do.
     
  11. Domaintial United Kingdom

    Domaintial Active Member Full Member

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    We've offered it for a long time, and in the rare instance that there is legitimate interest in paying via crypto, by the time we come to close the deal has swung back to traditional methods / escrow.

    The biggest challenge is lack of escrow support, as @dog said, things tend to break down when you ask for payment upfront, as there is no reversal mechanism in place. Some for of smart contract escrow, or atomic swap geared towards domaining/domain transfers would make life a lot easier.

    We're still a long way away from wider scale adoption IMO.
     
  12. dog

    dog Active Member

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    Pretty much exactly my experience.

    You get into, "Send the cash first." buyer, "Send domain first." This becomes annoying. Then you just decide on regular escrow.

     
  13. RobM

    RobM Well-Known Member Exclusive Member

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    I thought these coins were easier to spend than cash? Less fees...less time etc? Isn't that what they were based on?
     
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  14. ian

    ian Well-Known Member

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    They are, especially if you were buying a domain from an owner in another country requiring a bank transfer that includes conversion of currency and a visit to the bank because 'foreign transfers are not available online. It would be both cheaper and much faster, but the trust issue remains regardless of payment methods.
     
  15. disruptive

    disruptive Well-Known Member

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    I'm trying undeveloped.com as a landing page, which claims to use CC, but I'm not sure if this put off customers or buyers!