Bitcoin Microtransactions

Bad thread is now necro-bad.

"

Brigs wrote:

Bad thread is now necro-bad.

Posted by Xendran on May 8, 2013 2:48 AM
Posted by belzebong on June 22, 2013 6:44 AM
Posted by tormenta on August 6, 2013 10:52 PM

How come is that thread necroing? Is it normal threads around here become declared dead so fast?

Just saying, Bitcoin has held steady at $90-$110 for months. Literally.

I think it should be reconsidered.

You are essentially asking GGG's financial officer to jump on board a risky venture. While it may have remained constant in recent months, it has been a roller-coaster over the last year. Might as well just invest in the stock-market with all their profits. It's much more stable and profitable.

Excellent post.

Overstock(dot)com did over $150,000 trading in their first day of accepting bitcoin.

This would definitely be a boon to GGG.

Volatility is EASILY addressed through bitpay services. There is a HUGE untapped market that is waiting to spend their btc. Whether that arrives to GGG in the form of NZD, USD, EUR or whatever the case may be is a decision for owners of the business.

So every single arguement against bitcoin based on volatility falls flat on it's face.

"

Kazigath wrote:

Volatility is EASILY addressed through bitpay services. There is a HUGE untapped market that is waiting to spend their btc. Whether that arrives to GGG in the form of NZD, USD, EUR or whatever the case may be is a decision for owners of the business.

So every single arguement against bitcoin based on volatility falls flat on it's face.

So in your mind would GGG have to constantly adjust the price of MTX when bitcoin fluctuates, or have the profits fluctuate?

"

Saffell wrote:

So in your mind would GGG have to constantly adjust the price of MTX when bitcoin fluctuates, or have the profits fluctuate?

There are automatic programs and online wallets that change the price of the MTX, or the GGG points in BTC according to the exchange rates. For example:

https://coinbase.com/merchants

Also so many BTC noobs ITT. Funny that so many people have their opinion ready of something they even have no idea what it is or how it works.

"

glh5 wrote:

"

Saffell wrote:

So in your mind would GGG have to constantly adjust the price of MTX when bitcoin fluctuates, or have the profits fluctuate?

There are automatic programs and online wallets that change the price of the MTX, or the GGG points in BTC according to the exchange rates. For example:

https://coinbase.com/merchants

Also so many BTC noobs ITT. Funny that so many people have their opinion ready of something they even have no idea what it is or how it works.

Still have the same question. I don't know the exact relative value of a bitcoin, so perhaps the numbers are outrageous, but that doesn't really matter. Let's say you price a MTX at 10 bitcoin. Two days later BTC have dropped 60%. Does coinbase pick up the slack? Does the GGG website get updated such that the MTX now costs 18 BTC? Does this require more programming on GGG's end to merge the coinbase prices vs the website?

Yes, exactly like you say. And no, it doesn't require any programming on GGG's side. It's just like any other payment processor.