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Namecheap now officially accepts Bitcoin

namecheap.com

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Re: Namecheap now officially accepts Bitcoin

#131

Post by runeks »

makomk wrote: post #125
toomuchtodo wrote: post #16

Earlier quoted context omitted.

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 i…

A lot of places that accept Bitcoins use BitPay and get paid in US dollars. BitPay charge a 3% fee for this service. (You can accept Bitcoins and exchange them yourself but then you take on the exchange-rate risk, which is quite substantial given how much the Bitcoin exchange rate varies.)

Please provide a source for this claim.

BitPay's site says an incoming bitcoin transfer to bank deposit costs 1.70% for USD on their "Pricing" page: https://bitpay.com/bitcoin-direct-deposit

And this will only decrease as competition increases.

Re: Namecheap now officially accepts Bitcoin

#132

Post by jnbiche »

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.

You appear to be from Brazil, in which case you're flat out wrong. Bitcoins are not illegal in Brazil, or in any other country that I'm aware of. The government securities commission in Brazil recently suspended operations of a Brazil-based Bitcoin investment company ("Grupo de Investimento Bitcoin") that they said was an investment company operating without government approval, but that's a far cry from barring Bitcoin.

Re: Namecheap now officially accepts Bitcoin

#133

Post by GaryRowe »

Nursie wrote: post #115
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.

I think most people will still love the idea, because of a little thing called payment protection. No chargeback possibility? No sale from me.

Not every online transaction requires a chargeback. Perhaps donating to your favourite artist, author, charity would be easier in Bitcoin. And would mean you don't have to keep careful track of your spending to avoid huge interest rates from the card company.

Re: Namecheap now officially accepts Bitcoin

#134

Post by cbr »

jotaass wrote: post #129
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.

I'm honestly not sure, but I was under the impression that bitcoin wasn't really anonymous. All transactions are publicly logged to prevent double spend, so you can trace a coin from the first time it was used. If you happen to know that an address maps to a specific someone, you can begin to create a pretty identifiable picture. See, eg: https://bitcointalk.org/index.php?topic=241.0

I thought this too, but after looking into it I understood how it could be used anonymously: http://www.jefftk.com/news/2013-01-28

Re: Namecheap now officially accepts Bitcoin

#135

Post by eduardordm »

jnbiche wrote: post #132
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.

You appear to be from Brazil, in which case you're flat out wrong. Bitcoins are not illegal in Brazil, or in any other country that I'm aware of. The government securities commission in Brazil recently suspended operations of a Brazil-based Bitcoin investment company ("Grupo de Investimento Bitcoin") that they said was an investment company operating without government approval, but that's a far cry from barring Bitc…

http://www.planalto.gov.br/ccivil_03/LEIS/L4595.htm

Yes, they are. Any currency other than the national currency cannot be used for commerce.

This is a case where people were using dollars to pay for national contracts:

http://jus.com.br/revista/texto/8566/da-impossibilidade-de-p...

The only kind of parallel currency that is acceptable under the law are called 'social currencies' which are just food stamps.

Re: Namecheap now officially accepts Bitcoin

#136

Post by eduardordm »

josephagoss wrote: post #101
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.

Sorry dude, you have several people asking you what country your in and you give no answer. What you said (That Bitcoins are illegal in your country) is complete FUD until you provide some proof. As far as I am concerned, until you tell us where your country is, it seems your trying to damage namecheap's and /or Bitcoin's reputation for no reason. Please provide the country and law cited. Cheers.

My country is in my contact information, I didn't answer because I went to sleep.

This is the law that complete forbids using any currency other than the national for internal commerce and disposes about how forex must work, which bitcoins do not comply.

http://www.planalto.gov.br/ccivil_03/LEIS/L4595.htm

This is a case where people were using dollars to pay for national contracts:

http://jus.com.br/revista/texto/8566/da-impossibilidade-de-p...

Re: Namecheap now officially accepts Bitcoin

#137

Post by runeks »

KingMob wrote: post #11
kalleboo wrote: post #6

Earlier quoted context omitted.

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 r…

> 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.

Not according to shiftpgdn:

> NameCheap actually doesn't have the capacity to revoke domains as they're an eNom reseller. Enom's policy is that once you buy a domain, it's yours. With domains sales being such a low margin business I can understand their level of caution.

http://news.ycombinator.com/item?id=5323964

Re: Namecheap now officially accepts Bitcoin

#138

Post by runeks »

Nursie wrote: post #119
disintermediate wrote: post #89

Earlier quoted context omitted.

Also, as Bitcoin matures, you'll see businesses pop up that will insure against the risk for a small portion of the transaction allowing near instant confirmation for merchants.

BUT BUT BUT BUT .... no transaction fees! I love that over time people start coming up with solutions to the same damn problems that other payment schemes have already come up with, and that last week they were saying were evil because someone else was doing it. It's not unique to bitcoin, you see it in all sorts of places, it is funny though.

The difference is competition. Nothing fancy, nothing new and shiny. Just something that has been proven to work time and time again in lowering prices.

The barrier to entry in the payment card industry is simply too high to allow much competition. Entering the business of bitcoin payment processing has an extremely low barrier to entry; all the hard stuff has been done already!

Re: Namecheap now officially accepts Bitcoin

#139

Post by eduardordm »

secondChrome wrote: post #20
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?

Yes, I researched this, and my wife is also an experienced lawyer and works in the judiciary system, prior her current job at family tribunal, she worked in commercial sections.

There are many laws here that forbids using any currency that's not the national one, from consumer's laws to financial laws.

Re: Namecheap now officially accepts Bitcoin

#140

Post by eduardordm »

ankeshk wrote: post #62
paulnechifor wrote: post #31

Earlier quoted context omitted.

I too don't know of any such country, but he might be living in a country that bans all foreign currency. (That's how it was in communist Romania.)

You can make an argument that Bitcoins is not a foreign currency as it can be mined domestically in your own country.

The law I pasted to some other replies just states that the only currency that can be used for commerce within the country is the national one. Also defines that national currency is the one created and regulated by the central bank.
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