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-   -   Subscription/Gelat Payments In Bitcoin (https://forums.graalonline.com/forums/showthread.php?t=134268922)

skillmaster19 12-06-2013 02:03 AM

Subscription/Gelat Payments In Bitcoin
 
Bitcoin is a growing revolutionary new digital currency with many advantages:
-Extremely low transaction fees
-decentralized, meaning no company or government can abuse it
-Highly secure, no risk of charge back abuse like with credit cards
-Cannot be counterfeit
-Public address used to send payments doesn't allow others to spend your money, unlike credit card payments which put you at risk when you share your number. Makes payments safe as you aren't putting yourself at risk buying from a untrusted website. People sceptical about online payments might not want to put in their credit card info for Graal, but they may pay in bitcoin.


Bitcoin makes online transactions far more secure and allows merchants to save money that would be spent on transaction fees had they paid with credit cards or paypal. Many places have begun to accept Bitcoin. Bitpay is a service that makes accepting bitcoin and converting to "normal" currency easy, and only charges a 1% fee, much less than credit cards.


I personally would probably resubscribe to Graal if I could pay in Bitcoin, and I'm sure many others would as well. I think it would work great for payments on facebook servers too, if possible within Facebook's ToS.

Can we please implement payments in Bitcoin? It will attract a lot of people to Graal, any time a new company accepts Bitcoin they get a massive amount of attention

The benefits you will gain by accepting Bitcoin as a payment method:
-Save money on transaction fees
-Potentially increase playerbase as accepting Bitcoin draws attention.
-More players may purchase a subscription as they have a more convinient method to purchase it

The downsides:
-Setting it up may take you a few hours to a few days

TSAdmin 12-06-2013 02:44 AM

I've not read good things about Bitcoin as a currency. Not from information fed to me, but from information I've looking into, myself. In my opinion, they have a ways to come before it should be widely accepted.

scriptless 12-09-2013 03:30 AM

I have done some research into bitcoins myself. Just not a lot. I do like seeing them accepted as payments tho I have never used them since I never got "minning" them to work. I think my GPU just wouldn't support it on my laptop at the time. Havent tried on my surface pro or mac mini tho.

Gos_pira 12-09-2013 05:31 PM

Mining today is not worth it. You should have jumped the wagon when it was new. :)

skillmaster19 12-10-2013 11:41 AM

Quote:

Originally Posted by Gos_pira (Post 1724183)
Mining today is not worth it. You should have jumped the wagon when it was new. :)

You can still mine other cryptocurrencies like litecoin or others and trade it for bitcoin.

papajchris 12-11-2013 07:56 PM

You don't need to mine to own bitcoin though right? So I don't really see how mining has to do with Graal accepting bitcoins?

Stephen 12-11-2013 08:09 PM

Quote:

Originally Posted by papajchris (Post 1724216)
You don't need to mine to own bitcoin though right? So I don't really see how mining has to do with Graal accepting bitcoins?

Well, I think the biggest roadblock is that the value of bit coin fluctuates dramatically - this is not a favourable attribute for people who prefer to avoid risk.

Either way there would need to be a service to accept the bitcoin, convert it to USD, and finally submit it to the vendor (Graal Online). I'm not sure if that exists yet - this would mediate the risk for those who are risk adverse (Graal Online).

skillmaster19 12-12-2013 01:44 AM

Quote:

Originally Posted by Stephen (Post 1724217)
Well, I think the biggest roadblock is that the value of bit coin fluctuates dramatically - this is not a favourable attribute for people who prefer to avoid risk.

Either way there would need to be a service to accept the bitcoin, convert it to USD, and finally submit it to the vendor (Graal Online). I'm not sure if that exists yet - this would mediate the risk for those who are risk adverse (Graal Online).

Bitpay allows for payments to be immediately converted to USD or other local currencies like the Euro at the time of purchase, thus removing that risk if you do not wish to take it. They only charge a 1% fee(or no transaction fees if you pay $30 a month), which is significantly less than the ~3% fee charged by credit cards. If Eurocenter set up bitpay as a payment method, the volatility of the currency becomes irrelevant as it is converted at the time of purchase.

trevor987 12-24-2013 11:39 AM

Quote:

Originally Posted by skillmaster19 (Post 1724223)
Bitpay allows for payments to be immediately converted to USD or other local currencies like the Euro at the time of purchase, thus removing that risk if you do not wish to take it. They only charge a 1% fee(or no transaction fees if you pay $30 a month), which is significantly less than the ~3% fee charged by credit cards. If Eurocenter set up bitpay as a payment method, the volatility of the currency becomes irrelevant as it is converted at the time of purchase.

Just to play Devil's Advocate.. If you're going to argue that Eurocenter just converts at the time of the transaction, why don't you just send some Bitcoins through an exchange and come out with EUR?

skillmaster19 12-27-2013 01:26 AM

Quote:

Originally Posted by trevor987 (Post 1724432)
Just to play Devil's Advocate.. If you're going to argue that Eurocenter just converts at the time of the transaction, why don't you just send some Bitcoins through an exchange and come out with EUR?

I still need to get the money to them, how else would I send it? Credit cards and paypal have massive transaction fees, and many people can't get access to a credit card or are skeptical about using one online.

BlueMelon 12-27-2013 02:57 AM

Anything which gets converted to real currency would be fine,
https://en.bitcoin.it/wiki/How_to_ac...chant_Services

scriptless 12-27-2013 12:07 PM

Quote:

Originally Posted by Gos_pira (Post 1724183)
Mining today is not worth it. You should have jumped the wagon when it was new. :)

You might find this interesting. Since Bitcoin hit skyrocket prices of $1000 a coin it became incredibly worth it for anyone, with an ASIC miner, to mine. I got a buddy of mine that is mining and my calculations were close to his claims of nearly $25 a day in coins @ 600 USD to 1 BTC rates. But considering that cost him $1,500 (now because of the rise its about $2000-2500).

skillmaster19 12-29-2013 03:15 AM

Quote:

Originally Posted by scriptless (Post 1724562)
You might find this interesting. Since Bitcoin hit skyrocket prices of $1000 a coin it became incredibly worth it for anyone, with an ASIC miner, to mine. I got a buddy of mine that is mining and my calculations were close to his claims of nearly $25 a day in coins @ 600 USD to 1 BTC rates. But considering that cost him $1,500 (now because of the rise its about $2000-2500).

You won't make returns on an ASIC miner, I guarantee it. The difficulty is rising far too fast.

scriptless 12-29-2013 10:44 AM

Quote:

Originally Posted by skillmaster19 (Post 1724627)
You won't make returns on an ASIC miner, I guarantee it. The difficulty is rising far too fast.

Well, it all depends on the price you pay for the miner to be honest. I have seen 1.5k for a 60 GH/s miner and I'm sure that can make it's money back. Tho butterfly labs is about to release 300/600 PCIE cards for about those prices. Now bitcoin announced in 2017 they will go from 25 BTC rewards to 12.5 BTC for mining. And every 4 years half itself until aprox 21,000,000 BTC are in existence. Also interesting enough basing profitability is rather hard to do. If the currency drops in price, or jumps up can be game changer. Just playing around with the wildly changing currency I invested a small amount and got a return of 150% of my money back :o Which would have made a huge deal if I had invested more then about a dollar. lol

I see bitcoin being more adopted but probably not until it caps out at 21,000,000 BTC and things start to stabilize more.

Draenin 12-29-2013 08:04 PM

Quote:

Originally Posted by scriptless
I see bitcoin being more adopted but probably not until it caps out at 21,000,000 BTC and things start to stabilize more.

Finite amounts of money is not a good basis for economic stability.

When they do eventually run out, people still interested in them will likely pay more to get their hands on them. And those who already have a large amount will have the opportunity to try and monopolize the market without repercussions. Many are already trying to with dedicated mining rigs.


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