[Suggestion] Paying with Bitcoin

Discussion in 'Suggestion Box Archives' started by joshmcf, Feb 20, 2014.

  1. I believe that bitcoin would be a great alternative than paying with PayPal for supporter statuses. Bitcoin is a decentralized currency based upon the web that offers increased security and anonymity. Minecraft servers that have implemented bitcoin have received large attention within the bitcoin community, and it could help bring more members to our server. By using a bitcoin payment processor, supporter statuses pages with bitcoin could be fully automated with the use of a bot.
  2. Bitcoin is a terrible idea. It is an unstable currency with a truly unpredictable value. Prices would be fluctuating all over the place (at least i am pretty sure it would). Bitcoin is unstable right now and I am guessing it will die off soon. Bad idea IMO. From a standpoint of practicality it seems good but having it as a payment option is not good.
    Trapper777 and Cinnamonyoshi like this.
  3. Yeah, I've never seen a real use for bitcoins, especially considering you have to have a powerful computer working 24/7 trying to get bitcoins.
    Cinnamonyoshi likes this.
  4. No, because Aikar would end up with some bitcoins worth $20 that the next day could be worth next to nothing.
    Aikar may be adding more ways to pay in the future but not extra currencies.
    Olaf_C and Cinnamonyoshi like this.
  5. It has been stated a couple months back that Aikar is working on more different way's to pay for supporter.
  6. I just hope bitcoin is not one of them.
    Trapper777 likes this.
  7. lol I don't think so. Bitcoin is useless in my opinion.
    Trapper777 and Olaf_C like this.
  8. Not useless IMO, but not a currency we should deal in either!

    PS. "Don't complain at events, or they will be taken away" - If that were the case, I might complain more at certain events... But it's not. :) they'll just find more creative ways to shut you up. ;)
    xHaro_Der likes this.
  9. I have about 100 bit coins, bought them when they were really low in price. Thinking of selling them since they are worht about 610 USD now
  10. You should sell them before another black market website is found and everybody loses their crap xD
  11. It actually isn't that unstable, it's recent dip was because China made it illegal. If you look at just the current price, you would see that it went from $1000 each to ~$600 each. However, if you look at it in the long run, bitcoin rose from $80 to $600 in three months.

    The best way to get them is just to buy them. They are truly made to be a currency, but then they just have the added feature of generating them.

    Why hope it wouldn't be though? If it was implemented, you could just ignore it.
    Wow, haven't seen you in a while. Yeah, maybe sell a percentage and keep some to see what it does in the future. A month ago I invested $800 in Vertcoin, three days later it was worth $50,000.
    MR2R2M, autumnrain26 and Mirr0rr like this.
  12. Actually.. BTC is currently one of the most stable cryptocurrencies, and a lot more stable than what I mine on my computer.. "Much guess, so wow" on what I mine.. :p ..The recent drop in exchange was caused by a security issue with websites trading in BTC using a faulty wallet coding (Not the BTC itself), which affected among other things, some rather seedy sites.

    I did not know that China outlawed it as well.. o3o ..But that doesn't mean the Chinese still are not using it.. But that would also explain why LTC and Doge dropped a bit as well..

    o_______O... I wish that I had even 1 BTC.. The most I have ever had was about 0.00001 when I was doing some short term Doge exchange..
    MR2R2M likes this.
  13. the entire coin market (pandacoin, bitcoin, dogecoin, meritcoin, or any of the others popping up) is not smart to trade in as a legitimate buisness. the market is even more of a credit market then american dollars and has far less governmental support to back it up in case of a collapse. you are talking about trading essentially in the will of the people.

    as a former miner myself (back when you could buy the hardware for about 30 bucks and it worked(stupid complicated algorithms)) i dont think the infinite amount of potential coins will hold up another 5 years without some kind of radical change to the worldwide economic system.and since emc if its lucky should last that long it isnt practical.
  14. A program could be set up to monitor Bitcoin prices.
    This program could calculate $5, $10 or $15 (depending on which supportership you're getting) in BTC, and ask the player for that sum.
    It wouldn't be a matter of setting one fixed BTC price and having to change it all the time.
    If Bitcoin's going to die off soon, then why has it got a market cap of $7.1 billion?

    False, you can buy some off an exchange. I live in Northern Ireland, and down south there are a couple of shops which sell Bitcoins.

    If there was a BTC crash, it would not happen overnight. It would be a gradual process, and it would allow Aikar time to cash the BTC out and switch to whatever cryptocurrency emerges as Bitcoin's successor.

    Dude, your 100 BTC is worth $57,354.
    MR2R2M and joshmcf like this.
  15. None of the coins are infinite.. There is a set number of coins that will ever exist for each coin. Essentially, the coins are all the same, generated by consensus of completion of complex differential equations. Some coins (like BTC) offer a base reward per block which remains the same throughout the mining life of that coin. Other coins (like Doge) offer a base reward that is cut in half when specific milestones are reached. When the coin first came out the reward was 0-1,000,000 coins per block which was randomly decided. When they reached the 100,000th block on Valentine's Day, the reward was cut to 0-500,000 coins per block. I think the next milestone is block 200,000 when it will then get cut to 0-250,000 and so on until its completely mined.. o3o
  16. I can assure you this will never happen, sorry. Just have no use for them. bitcoins are equivilent to penny stocks: Extremely risky, and most of the time you lose.
  17. i meant potentially infinite amount of different coins, not infinite amount of each type. new coin currencies pop up daily as it is
  18. I always have found this interesting. I haven't ever got into it myself though.
  19. Look on reddit, checkout the subreddits: Bitcoin, Dogecoin, and Vertcoin. We'Dr very friendly and glad to help
  20. The problem is that aikar may simply get an amount of bitcoin later not worth $20 (or $10, or $5). By using stable currencies, he ensures that he gets a fair and reasonably constant price.