Subscription/Gelat Payments In Bitcoin

[Loriel]

Here's some info on bitcoin for anyone who isn't already familiar with the concept.

[skillmaster19]

Zynga, one of the largest free online game companies is taking payments via bitpay now.

[Jakov_the_Jakovasaur]

i noticed that the ceo of mt.gox (which has been in the news due to being the largest bitcoin exchange and now declaring bankrupty among other things) mark karpeles was once a graal administrator, i guess he had done really well for himself since leaving at least up until now!

(sorry if he is a persona non grata, i dont know!)

[Bell]

The Mt. Gox bitcoin exchange in Tokyo filed for bankruptcy protection Friday and its chief executive said 850,000 bitcoins, worth several hundred million dollars, are unaccounted for.

[Jakov_the_Jakovasaur]

i was looking for some pictures of mark karpeles with the other graal administrators but they seem to have all been taken down from the site they were hosted on

[Gos_pira]

"weird".

[scriptless]

Basically MtGox tried to centralize a decentralized currency and got a rather startling wakeup call. Alot of people are looking at them like WHY did u store all the bitcoins in 1 place.. they could have done this so much more elegantly and due to the decentralized nature of bitcoin it means they could have done what they did so much more better then any banking, clearing house, centralized system could ever have accomplished I dont get why they think they deserve bankruptcy at all.. exactly what happens to the remaining bitcoins if any? seized or they get to keep?

[Stephen]

I think these most recent (and coincidental) events serve to illustrate a fundamental concern:

Originally Posted by Stephen

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.

[Dinji_Jinto]

I agree completely. I'm very interested in the cryptocurrency market, and there are many businesses and websites who are integrating bitcoin as payment, but I can completely understand why someone wouldn't want to take it. Say you pay $50 for gelats in bitcoin, and then the next day, the market crashes and they're now worth $15. Sure, they have a chance of going up, and maybe it will return to the value that it was used to pay for gelats. However, if anyone would be interested in paying in bitcoin, you may as well sell them to get the actual money to pay for it instead.