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OKCupid starts accepting Bitcoin using Coinbase

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51–60 of 86 posts

Re: OKCupid starts accepting Bitcoin using Coinbase

#51
post #48

Earlier quoted context omitted.

Yes. You'd expect a community such as hacker news to be above the usual nerd-shaming.

It's called tongue-in-cheek self-referential humor. Naturally, you'd expect a community such as Hacker News to be below such subtlety. :D PS: I am a fat nerd wearing a black t-shirt, love bitcoin, and have used OKCupid to get dozens of successful dates over the last 8 years.

Fair enough. I agree it can be funny, just somewhat immature. The line between bullying and "self referential in-group humor" is pretty thin sometimes. I guess it's a bit like sexist jokes, in that some things that are meant as funny can be interpreted wrongly and hurt.

Re: OKCupid starts accepting Bitcoin using Coinbase

#52
post #31

Earlier quoted context omitted.

It was after their acquisition by IAC in 2011. Match.com is owned by IAC, so technically it was taken over by IAC. The CEO said multiple times they'd never charge, but plans tend to change after you get acquired.

Paying (for A-List) is entirely optional and gets you extra, nonessential features (like no ads and extra search parameters). It's been around since 2009, long before IAC bought us. Using OkCupid is still, and will stay, free.

Oh I see. Thanks for correcting

Re: OKCupid starts accepting Bitcoin using Coinbase

#53
post #49

Do businesses that accept bitoins for payments typically immediately cash it out on exchanges or do they actually carry the "FX" risk? edit: since MtGox only charges a fixed %age fee for transactions, automating a conversion into USD wouldn't cost any more than doing periodic larger transactions (other than the development and maintenance cost of such a system

Do businesses that accept bitoins for payments typically immediately cash it out on exchanges or do they actually carry the "FX" risk? People in the Bitcoin community believe that these options are mutually exclusive, but they're not . If you're doing a dual currency transaction in a period of high volatility, somebody is paying for that exchange risk. It's either the customer, the payment processor, or the merchant,…

To play the devil's advocate, I'll point out that anyone selling in multiple currencies has to deal with hedging fx risk. For example, USDJPY has been pretty nuts thus far in April (not BTC nuts, but intraday swings of 1-2%).

If you were 1) very determined to sell in BTC and 2) could buy USDBTC options you could probably sell in BTC and limit your exposure to the fx risk.

Re: OKCupid starts accepting Bitcoin using Coinbase

#54
post #49

Do businesses that accept bitoins for payments typically immediately cash it out on exchanges or do they actually carry the "FX" risk? edit: since MtGox only charges a fixed %age fee for transactions, automating a conversion into USD wouldn't cost any more than doing periodic larger transactions (other than the development and maintenance cost of such a system

Do businesses that accept bitoins for payments typically immediately cash it out on exchanges or do they actually carry the "FX" risk? People in the Bitcoin community believe that these options are mutually exclusive, but they're not . If you're doing a dual currency transaction in a period of high volatility, somebody is paying for that exchange risk. It's either the customer, the payment processor, or the merchant,…

And if you're selling something which can be resold for most of what you've been paid, then either you or your payment processor is giving away free puts on Bitcoin. And if you offer refunds at par value in USD, you're also giving away free calls on Bitcoin.

Re: OKCupid starts accepting Bitcoin using Coinbase

#55
post #53
post #49

Earlier quoted context omitted.

Do businesses that accept bitoins for payments typically immediately cash it out on exchanges or do they actually carry the "FX" risk? People in the Bitcoin community believe that these options are mutually exclusive, but they're not . If you're doing a dual currency transaction in a period of high volatility, somebody is paying for that exchange risk. It's either the customer, the payment processor, or the merchant,…

To play the devil's advocate, I'll point out that anyone selling in multiple currencies has to deal with hedging fx risk. For example, USDJPY has been pretty nuts thus far in April (not BTC nuts, but intraday swings of 1-2%). If you were 1) very determined to sell in BTC and 2) could buy USDBTC options you could probably sell in BTC and limit your exposure to the fx risk.

I'll point out that anyone selling in multiple currencies has to deal with hedging fx risk

Yes, and anyone whose business involves juggling chainsaws has to pay an awful lot for workplace insurance, but Bingo Card Creator doesn't involve chainsaws. Bitcoin proponents love to say "No transaction fees! Can your credit card processor do that?" while perhaps forgetting to mention that the actual mechanism for achieving this involves you juggling chainsaws.

Re: OKCupid starts accepting Bitcoin using Coinbase

#56
post #32
post #21

Earlier quoted context omitted.

It's so pervasive now that you could make the statement true by replacing nerd with any other group of people. The only exception would be people in relationships or marriages. Unfortunately, even that is becoming questionable: look at Ashley Madison and its nearly 2 million uniques per month.

I wish there were a dating site mainly for nerds, really. I don't know how you could maintain that.

The gender imbalance would be massive, as it used to be.

Re: OKCupid starts accepting Bitcoin using Coinbase

#57
post #48

Earlier quoted context omitted.

It's called tongue-in-cheek self-referential humor. Naturally, you'd expect a community such as Hacker News to be below such subtlety. :D PS: I am a fat nerd wearing a black t-shirt, love bitcoin, and have used OKCupid to get dozens of successful dates over the last 8 years.

Fair enough. I agree it can be funny, just somewhat immature. The line between bullying and "self referential in-group humor" is pretty thin sometimes. I guess it's a bit like sexist jokes, in that some things that are meant as funny can be interpreted wrongly and hurt.

Seriously? You're getting bent out of shape over this??? Despite being very likely true, the statement was funny and targeting just the right people for it to be funny.

Re: OKCupid starts accepting Bitcoin using Coinbase

#59
post #32
post #21

Earlier quoted context omitted.

It's so pervasive now that you could make the statement true by replacing nerd with any other group of people. The only exception would be people in relationships or marriages. Unfortunately, even that is becoming questionable: look at Ashley Madison and its nearly 2 million uniques per month.

I wish there were a dating site mainly for nerds, really. I don't know how you could maintain that.

gk2gk.com

Re: OKCupid starts accepting Bitcoin using Coinbase

#60
post #35
post #34

Earlier quoted context omitted.

> It has an extremely geeky userbase compared to most dating services. Not necessarily overly technical, but certainly geeky. I really wish they would start OkTrends ( http://blog.okcupid.com/ ) back up; it was really fascinating reading, the kind of analysis that's impossible to come by unless you have free-rein map-reduce access to some company's Big Data. Given their userbase I'm surprised they don't think it was…

Funny things happen when companies get acquired. They stop acting like a startup and they start acting like large, slow companies, which is unfortunate. That blog was single-handedly what drove their traffic more than anything. Everyone I talk to said they found out about OkCupid through that blog. OkCupid knows this. The founders said they almost quit and that blog was their saving grace. Is it any coincidence that…

> Is it any coincidence that the blog stopped around the same time they were acquired? It served its purpose and ran its course. They're done innovating in the space. We'll have to let startups lead the next wave of innovation in online dating.

First, I used to work on the OkTrends team, but I'm speaking for myself, not on behalf of OkCupid.

OkTrends didn't shut down after the acquisition - in fact, they made two posts afterwards (one several months afterwards). The fact that they haven't posted much recently has more to do with the available staff.

It takes a LOT of work to make those posts. The research for "The Real Stuff White People Like" took me a month and a half of working full-time on that and not much else. (Remember that it's "easy" to solve a problem when you define the problem at the start, but with OkTrends, we weren't always starting with a specific problem - each post began as one idea, and then went through multiple iterations before we hit on the "real" question we wanted to answer.).

Around that time, there were three of us working on OkTrends, two of us full-time and the third more-or-less full-time. Once the two full-timers left (for reasons unrelated to the acquisition - I went back to school to finish my degree), you can see why it became much harder to work on those posts.

And before someone says that they could just hire someone else - yes, perhaps, but that's harder than it looks. Data scientist positions are already one of the most difficult to hire for (from a startup perspective), and OkCupid also sets the bar incredibly high. To date, I think that was probably my most intensive and comprehensive interview experience.

Trust me, I give the OkCupid folks crap about this every time I see them (particularly my old boss), because I'd love to see more posts too. But don't think the timing of the hiatus has anything to do with the acquisition; it's truly coincidental. Many startups stop innovating after they're acquired - OkCupid is definitely not one of them.

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