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Namecheap now officially accepts Bitcoin

namecheap.com

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Re: Namecheap now officially accepts Bitcoin

#11

Post by KingMob »

kalleboo wrote: post #6
mwsherman wrote: post #5

Earlier quoted context omitted.

Hours to settle into $? Or hours to confirm the Bitcoin transaction at all?

To confirm the Bitcoin transaction at all. That's just how Bitcoin works - you have to wait for X new blocks to get confirmations from other peers. How long you wait determines your risk level.

It doesn't require hours at the protocol level, it's just a social standard. Typically, the first confirmation would occur in ~10 minutes. At the moment, the convention is 6 blocks / 1 hour is sufficient to prevent double-spending, but any merchant could have its own standard.

Also, for something revocable like a domain name, there's nothing preventing Namecheap from giving you the domain name immediately, and then revoking your access to it later if the transaction ultimately fails.

Re: Namecheap now officially accepts Bitcoin

#12

Post by taligent »

davidroberts wrote: post #7

I think in five years, the idea of using credit or debit cards for electronic transactions will seem slightly ridiculous, sort of the way using snail mail to pay bills by check seems now.

Your logic is completely faulty.

Paying bills over the internet was easier and simpler than paying by check. Paying by credit and debit cards are easier, safer and simpler than using say Bitcoin.

There is zero chance that those cards are going anywhere. If anything the popularity of PayWave and other NFC technologies should see their use increase.

Re: Namecheap now officially accepts Bitcoin

#13

Post by eduardordm »

Because bitcoins are illegal in my country, I'll keep my personal domains on namecheap but will certainly move my company domains out of there until I figure out if there's a chance I have problems with this.

I like bitcoins just like everyone, but there are laws you need to abide by and bitcoins are illegal in many countries.

Re: Namecheap now officially accepts Bitcoin

#15

Post by Frozenlock »

eduardordm wrote: post #13

Because bitcoins are illegal in my country, I'll keep my personal domains on namecheap but will certainly move my company domains out of there until I figure out if there's a chance I have problems with this. I like bitcoins just like everyone, but there are laws you need to abide by and bitcoins are illegal in many countries.

Do tell more! I was unaware of any country having officially stated Bitcoin as illegal.

Re: Namecheap now officially accepts Bitcoin

#16

Post by toomuchtodo »

taligent wrote: post #12
davidroberts wrote: post #7

I think in five years, the idea of using credit or debit cards for electronic transactions will seem slightly ridiculous, sort of the way using snail mail to pay bills by check seems now.

Your logic is completely faulty. Paying bills over the internet was easier and simpler than paying by check. Paying by credit and debit cards are easier, safer and simpler than using say Bitcoin. There is zero chance that those cards are going anywhere. If anything the popularity of PayWave and other NFC technologies should see their use increase.

Except its now legal for merchants to tack on a surcharge for you paying with credit (as it should be).

Online merchants will absorb the cost of processing credit cards, as they aren't going to wait for a check in the mail. But physical merchants that can accept cash and are now allowed to recoup that 3%? I can see certain groups of people migrating away from plastic if it increases the cost of their goods/services in a meaningful way.

Re: Namecheap now officially accepts Bitcoin

#17

Post by jiggy2011 »

eduardordm wrote: post #13

Because bitcoins are illegal in my country, I'll keep my personal domains on namecheap but will certainly move my company domains out of there until I figure out if there's a chance I have problems with this. I like bitcoins just like everyone, but there are laws you need to abide by and bitcoins are illegal in many countries.

I assume they still accept real cash.

Re: Namecheap now officially accepts Bitcoin

#18

Post by chc »

eduardordm wrote: post #13

Because bitcoins are illegal in my country, I'll keep my personal domains on namecheap but will certainly move my company domains out of there until I figure out if there's a chance I have problems with this. I like bitcoins just like everyone, but there are laws you need to abide by and bitcoins are illegal in many countries.

I don't see your concern being very realistic. I very much doubt doing business with a foreign company that accepts Bitcoins is illegal in any country as long as you yourself are not involved in Bitcoin trade. I mean, obviously you can be as cautious as you want, but it seems unreasonable to assume that NameCheap is forcing any liability onto its customers.

Re: Namecheap now officially accepts Bitcoin

#19

Post by redegg »

Skoofoo wrote: post #14

Neat, but will they turn a blind eye to domains registered with false information? After all, the biggest advantage of Bitcoin over traditional digital payment methods is its capability to be used anonymously.

Providing falsified WHOIS information will only harm the registrant.

Re: Namecheap now officially accepts Bitcoin

#20

Post by secondChrome »

eduardordm wrote: post #13

Because bitcoins are illegal in my country, I'll keep my personal domains on namecheap but will certainly move my company domains out of there until I figure out if there's a chance I have problems with this. I like bitcoins just like everyone, but there are laws you need to abide by and bitcoins are illegal in many countries.

I am not aware of any country that has made bitcoin illegal. Are you sure you have your facts right?
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