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DeathByPenguin

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Thread created on Tue Apr 09, 2013 22:18:19
Last replied to on Tue Apr 30, 2013 02:42:30
It'd be awesome if torncity accepted Bitcoins for donator packs. For those who haven't heard of bitcoin, I recommend searching online. As many others may know, in the past few months bitcoin has gained large traction with one bitcoin being with over $200 (USD)

It'd be a great idea for torn to accept bitcoins as there are no charge backs. So once a donation is made they have their money and don't have to worry about users trying to charge back. With the value of bitcoin going up, if torn kept the bitcoins they could even start trading them and turn the bitcoins donated into even more money.

I'm not sure how many people on here would know what bitcoin is but it's worth a shot to make the suggestion

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pimptastic

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Posted on Wed Apr 10, 2013 00:51:51
Rated -

Just change your erm valuable bitcoins up at your local bank...

Make sure to check out my bazaar for tons of great deals.
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DeathByPenguin

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Posted on Wed Apr 10, 2013 01:01:26
By pimptastic [427672]
Rated -

Just change your erm valuable bitcoins up at your local bank...


Obviously don't understand Bitcoins if you're making a comment like that.

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pimptastic

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Posted on Wed Apr 10, 2013 01:28:37
By DeathByPenguin [993843]
By pimptastic [427672]
Rated -

Just change your erm valuable bitcoins up at your local bank...


Obviously don't understand Bitcoins if you're making a comment like that.

Or maybe I understand it more than you.

Given in the last week the exchange rate for bitcoins has been under $100 usd to the bitcoin and also over $300 to the bitcoin how do you suggest torn make a stable and fair price?

Also when the bitcoin exchanges are hacked again(as they have been some 20+ times) and the exchange rate falls into the ground do you expect torn to monitor and keep up with this 24/7?



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DeathByPenguin

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Posted on Wed Apr 10, 2013 01:39:48
By pimptastic [427672]
Or maybe I understand it more than you.

Given in the last week the exchange rate for bitcoins has been under $100 usd to the bitcoin and also over $300 to the bitcoin how do you suggest torn make a stable and fair price?

Also when the bitcoin exchanges are hacked again(as they have been some 20+ times) and the exchange rate falls into the ground do you expect torn to monitor and keep up with this 24/7?


A week ago it was approx $115 before a week it's been lower than $100 and it's been climbing quickly since about Jan/Feb with the steepest climb in March. It hasn't gone over $300, it hasn't even gone over $250, actually as I type this the current all time high is $240.11. As for setting prices, they would set it at $5 as usual and just like every other website that accepts bitcoins, the customer would just pay $5 worth of Bitcoins. The Bitcoin price would update dynamically on the website every 10 minutes.

Also, a DDos is hardly hacking and there are multiple exchanges, unlikely they'll all go down at once. And again prices would update dynamically.

5 USD = 0.0212 BTC at the current MtGox price.

You're clearly uneducated on the subject. Stop embarrassing yourself

Last Edited: Wed Apr 10, 2013 01:42:24
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pimptastic

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Posted on Wed Apr 10, 2013 01:55:36
By DeathByPenguin [993843]
By pimptastic [427672]
Or maybe I understand it more than you.

Given in the last week the exchange rate for bitcoins has been under $100 usd to the bitcoin and also over $300 to the bitcoin how do you suggest torn make a stable and fair price?

Also when the bitcoin exchanges are hacked again(as they have been some 20+ times) and the exchange rate falls into the ground do you expect torn to monitor and keep up with this 24/7?


A week ago it was approx $115 before a week it's been lower than $100 and it's been climbing quickly since about Jan/Feb with the steepest climb in March. It hasn't gone over $300, it hasn't even gone over $250, actually as I type this the current all time high is $240.11. As for setting prices, they would set it at $5 as usual and just like every other website that accepts bitcoins, the customer would just pay $5 worth of Bitcoins. The Bitcoin price would update dynamically on the website every 10 minutes.

Also, a DDos is hardly hacking and there are multiple exchanges, unlikely they'll all go down at once. And again prices would update dynamically.

5 USD = 0.0212 BTC at the current MtGox price.

You're clearly uneducated on the subject. Stop embarrassing yourself

Why not suggest euros, pounds or yen?

Don't you understand how a currency tripling in value in a month is unstable?

Also as my first post says why don't you just change them up yourself and buy using dollars?

Last Edited: Wed Apr 10, 2013 01:56:28
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Butters

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Posted on Wed Apr 10, 2013 01:56:38
What happens when bitcoin market value goes down the toilet again, as it does from time to time?

I'm pretty sure Ched doesn't want to see his revenue from donation fees going up and down like a yoyo in an uncontrolled virtual currency trading market (yes real currencies move up and down as well, but there is at least some degree of regulation in those particular markets).

Seriously either plonk your 5 bucks of cold hard down per month or buy your packs in game with even cheaper pixels - there's no need to bring a volatile virtual currency into frame here imo.

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Gungrave
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Posted on Wed Apr 10, 2013 02:10:54
its a simple matter of people are used to the currencies of their own country where as few understand bitcoin many don't even know or have even heard of it yet.

besides they've been recently getting hack attacks a lot and i believe scammed once so i wouldn't trust them.

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Black_Viper

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Posted on Wed Apr 10, 2013 04:38:28
By DeathByPenguin [993843]
It'd be awesome if torncity accepted Bitcoins for donator packs. For those who haven't heard of bitcoin, I recommend searching online. As many others may know, in the past few months bitcoin has gained large traction with one bitcoin being with over $200 (USD)

It'd be a great idea for torn to accept bitcoins as there are no charge backs. So once a donation is made they have their money and don't have to worry about users trying to charge back. With the value of bitcoin going up, if torn kept the bitcoins they could even start trading them and turn the bitcoins donated into even more money.

I'm not sure how many people on here would know what bitcoin is but it's worth a shot to make the suggestion


Rated -


What time is it boys and girls?? Its Ass kickin' time!!
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Gheed

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Posted on Wed Apr 10, 2013 14:09:53
frabz-Your-suggestion-is-bad-and-you-sho

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bogie

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Posted on Wed Apr 10, 2013 15:35:04
Would you really say it's a stable enough 'currency' for use here? Are you suggesting a fixed rate here for the donator packs or an ever changing price based on the current value of bitcoins? Seeing as the value of a bitcoin changes/can change by like... the cost of a donator pack in the time it takes me to write up this post...

End of the day though I don't see this as necessary, this would provide nothing extra really to the current system of just using money/USD and would be more of a gamble on Torn's part rather than the player purchasing DPs in this way.

Last Edited: Wed Apr 10, 2013 15:37:54
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HarshLife

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Posted on Thu Apr 11, 2013 14:20:49
http://www.bbc.co.uk/news/technology-22105322

Bitcoins are stupid.

Its like accepting stocks as a currency.

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No but seriously.. Say No to legalised scamming, Its just logical.
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BomberBank

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Posted on Sat Apr 27, 2013 05:15:15
By Butters [34298]
What happens when bitcoin market value goes down the toilet again, as it does from time to time?


Well, Ched could always use BitPay. I'd love if he'd add that option, I hate the Paypal scum who've screwed me over 100 times, so if paying via BitPay was an option, I'd happily donate. (yes I know there's Google Checkout, but I still prefer Bitcoin).
This way Ched can get his x amount of $ every week without risk of charge-back, plus BitPay will take the risk of Bitcoin price volatility and pay the full cash straight to his bank account.

Last Edited: Sat Apr 27, 2013 05:17:52
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TheDarkLegacy

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Posted on Sat Apr 27, 2013 11:31:22
Lol if you really want this so bad then sell my your bitcoins and then use the money to buy DPs?

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BomberBank

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Posted on Sat Apr 27, 2013 18:26:31
By TheDarkLegacy [1712562]
Lol if you really want this so bad then sell my your bitcoins and then use the money to buy DPs?


That's not the point, that's like asking someone to convert their euro's to GBP if they want to buy a DP, instead of just accepting the euros, or using a service who'll do the dirty job of conversion for them.

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TheDarkLegacy

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Posted on Sat Apr 27, 2013 18:37:24
By BomberBank [119437]
By TheDarkLegacy [1712562]
Lol if you really want this so bad then sell my your bitcoins and then use the money to buy DPs?


That's not the point, that's like asking someone to convert their euro's to GBP if they want to buy a DP, instead of just accepting the euros, or using a service who'll do the dirty job of conversion for them.


The difference between euros and bitcoins is that bitcoins are only accepted in a few places and the price fluctuates a lot whereas the euro is accepted and used by many countries and the price remains similar.

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Megalomaniacal

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Posted on Sat Apr 27, 2013 18:41:40
i heard they're gonna let you buy the app with bitcoin.

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TheDarkLegacy

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Posted on Sat Apr 27, 2013 18:44:30
By Megalomaniacal [1542618]
i heard they're gonna let you buy the app with bitcoin.


Really? I hope they let you buy level 100 with bitcoins too, only being able to use paypal sux

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reptophile

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Posted on Sat Apr 27, 2013 21:57:21
Lots of Luddites here, despite the game only being a few years old. I think it's a great idea to sell DPs for bitcoins as it would open up the market to countries that don't have proper banking systems.

It would obviously have to to track the exchange rate in real time though since it is so volatile, and have a back end task to cash them into whatever currency Ched needs to buy his Martinis.

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Gungrave
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Posted on Sun Apr 28, 2013 03:49:56
By reptophile [1558328]
Lots of Luddites here, despite the game only being a few years old. I think it's a great idea to sell DPs for bitcoins as it would open up the market to countries that don't have proper banking systems.

It would obviously have to to track the exchange rate in real time though since it is so volatile, and have a back end task to cash them into whatever currency Ched needs to buy his Martinis.


Fact still remains Bitcoin is not stable enough.

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Iluvyoumaryjane
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Posted on Sun Apr 28, 2013 15:48:22
Last replied to on Sun Apr 28, 2013 15:40:45
If it was possible to pay in Bitcoins, here are the advantages:

1) 100% anonymous
2) Always rising in price, good investment. There can only be 21 million bitcoins mined in all, there are 7 billion people in the world. 0.03 BTC/person
3) Quick
4) Not using a government controlled currency like the USD
5) More suited for foreign customers
6) Way more valuable than USD, rises the same as gold
7) Payment record
8) No chargebacks
9) BTC can be used to directly buy things from the internet without conversion

Here are the disadvantages:

1) Always fluctuating in price - Can be fixed by getting the standard value from Mt Gox
2) Could take a while to cash out from Mt Gox because they don't accept Paypal - Solution: Make two accounts, one for BTC and one for USD.
3) Calculations will have to be done in annoyingly small figures since only $5 or $10 / donation - Can be fixed by using mBTC (3.8mBTC per DP)


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python

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Posted on Sun Apr 28, 2013 16:27:21
By TheDarkLegacy [1712562]
By Megalomaniacal [1542618]
i heard they're gonna let you buy the app with bitcoin.


Really? I hope they let you buy level 100 with bitcoins too, only being able to use paypal sux


called sarcasm you noob

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TheDarkLegacy

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Posted on Sun Apr 28, 2013 16:38:56
By python [1009878]
By TheDarkLegacy [1712562]
By Megalomaniacal [1542618]
i heard they're gonna let you buy the app with bitcoin.


Really? I hope they let you buy level 100 with bitcoins too, only being able to use paypal sux


called sarcasm you noob


Really? I honestly thought that he was telling the truth. Thank you for enlightening me!

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Spurtung

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Posted on Sun Apr 28, 2013 16:57:09
By python [1009878]
By TheDarkLegacy [1712562]
By Megalomaniacal [1542618]
i heard they're gonna let you buy the app with bitcoin.


Really? I hope they let you buy level 100 with bitcoins too, only being able to use paypal sux


called sarcasm you noob


aaaaaaand you missed it

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Hanoth

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Posted on Sun Apr 28, 2013 17:06:16
Whats wrong with paying dollars for DP's??
Tell you what though, how about i buy my future DP's with dead babies?? I think that DB's are worth atleast at much as these Bitcoins you seem to love so much.


Rated -

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Iluvyoumaryjane
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Posted on Sun Apr 28, 2013 21:56:11
By Hanoth [4634]
Whats wrong with paying dollars for DP's??
Tell you what though, how about i buy my future DP's with dead babies?? I think that DB's are worth atleast at much as these Bitcoins you seem to love so much.


Rated -


Idiot, Bitcoins are worth way more than the shitty USD. Hahaha. and once the fake war of terror is over, they'll start using you and your paper money against you

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Spurtung

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Posted on Sun Apr 28, 2013 23:16:31
By blah23 [1349860]
By Hanoth [4634]
Whats wrong with paying dollars for DP's??
Tell you what though, how about i buy my future DP's with dead babies?? I think that DB's are worth atleast at much as these Bitcoins you seem to love so much.


Rated -


Idiot, Bitcoins are worth way more than the shitty USD. Hahaha. and once the fake war of terror is over, they'll start using you and your paper money against you


they are worth now, who knows what will happen in the next 30 minutes, or 2 hours, or 6 days,...

and where will you go to get your money when the 100 Bitcoins you bought for US$200 are suddenly worth 50?


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1714946
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Posted on Mon Apr 29, 2013 19:45:20
By Spurtung [96875]
By blah23 [1349860]
By Hanoth [4634]
Whats wrong with paying dollars for DP's??
Tell you what though, how about i buy my future DP's with dead babies?? I think that DB's are worth atleast at much as these Bitcoins you seem to love so much.


Rated -


Idiot, Bitcoins are worth way more than the shitty USD. Hahaha. and once the fake war of terror is over, they'll start using you and your paper money against you


they are worth now, who knows what will happen in the next 30 minutes, or 2 hours, or 6 days,...

and where will you go to get your money when the 100 Bitcoins you bought for US$200 are suddenly worth 50?


Doubt that will matter. Bitcoins work like the gold market. "Currently, 25 new bitcoins are generated with every 10-minute block. This will be halved to 12.5 BTC during the year 2017 and halved continuously every 4 years after until a hard limit of 21 million bitcoins is reached during the year 2140."
What this means is that Bitcoins are an investment.
They go all the way down but bounce back up right before going under 100. As long as there's demand, there's supply. People don't use Bitcoins to trade for USD, but Bitcoins to buy stuff. Bitcoins were worth $1 USD in June 2008. Some guy even bought a 10k BTC pizza on the forums back then.

As for the other people who think Bitcoins are not valuable, Half a bitcoin can get you enough drinking water to keep you alive for a year whereas half a USD won't get you a pint

And if you listen very hard, the tune will come to you at last. When all are one and one is all, to be a rock, and not to roooooooooooooooooooooooooooooooooooooooooooooooooooooooooooolllllllllllllll!!!
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reptophile

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Posted on Mon Apr 29, 2013 20:58:28
By Gungrave [470221]
By reptophile [1558328]
Lots of Luddites here, despite the game only being a few years old. I think it's a great idea to sell DPs for bitcoins as it would open up the market to countries that don't have proper banking systems.

It would obviously have to to track the exchange rate in real time though since it is so volatile, and have a back end task to cash them into whatever currency Ched needs to buy his Martinis.


Fact still remains Bitcoin is not stable enough.


With respect I don't think you read the second paragraph. If the DP price for bitcoins could fluctuate with current exchange rate against whatever currency Ched pays himself in, and the bitcoins could be cashed out immediately via one of the markets, it would save the huge charges that methods like mobile phone payments or even Paypal charge.

Dig into it a bit... there's positive as well as negative news about bitcoins

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TheDarkLegacy

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Posted on Mon Apr 29, 2013 21:05:05
By reptophile [1558328]
By Gungrave [470221]
By reptophile [1558328]
Lots of Luddites here, despite the game only being a few years old. I think it's a great idea to sell DPs for bitcoins as it would open up the market to countries that don't have proper banking systems.

It would obviously have to to track the exchange rate in real time though since it is so volatile, and have a back end task to cash them into whatever currency Ched needs to buy his Martinis.


Fact still remains Bitcoin is not stable enough.


With respect I don't think you read the second paragraph. If the DP price for bitcoins could fluctuate with current exchange rate against whatever currency Ched pays himself in, and the bitcoins could be cashed out immediately via one of the markets, it would save the huge charges that methods like mobile phone payments or even Paypal charge.

Dig into it a bit... there's positive as well as negative news about bitcoins


And to change them back into you get charged fees (Otherwise why would someone bother to do it for you if they can't make money from it?)


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reptophile

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Posted on Mon Apr 29, 2013 21:10:07
By TheDarkLegacy [1712562]
By reptophile [1558328]
By Gungrave [470221]
By reptophile [1558328]
Lots of Luddites here, despite the game only being a few years old. I think it's a great idea to sell DPs for bitcoins as it would open up the market to countries that don't have proper banking systems.

It would obviously have to to track the exchange rate in real time though since it is so volatile, and have a back end task to cash them into whatever currency Ched needs to buy his Martinis.


Fact still remains Bitcoin is not stable enough.


With respect I don't think you read the second paragraph. If the DP price for bitcoins could fluctuate with current exchange rate against whatever currency Ched pays himself in, and the bitcoins could be cashed out immediately via one of the markets, it would save the huge charges that methods like mobile phone payments or even Paypal charge.

Dig into it a bit... there's positive as well as negative news about bitcoins


And to change them back into you get charged fees (Otherwise why would someone bother to do it for you if they can't make money from it?)


Yeah, less than 0.5% through a market like MtGox... unless you know something I don't. Tell me how that compares to a mobile phone payment gateway.

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