Wow, that's big news. Now they just need a client that doesn't take days to download the block chain :| Seriously, I wonder if one of the bigger barriers to bitcoin adoption is the lame official application.
The future is here my brother:
WordPress.com accepts Bitcoin
31–40 of 129 posts
Re: WordPress.com accepts Bitcoin
#32Earlier quoted context omitted.
> as I've written in the past link?
I'd like to know as well. And for that matter, is there any interesting material out there that talks about Bitcoin?
Yes. For example, both the FBI and the ECB have written on bitcoin in a way that acknowledges it as a useful medium of exchange.
What are you looking for? https://en.bitcoin.it/wiki/Main_Page has a lot of good info on a lot of stuff. reddit.com/r/bitcoin is a pretty helpful place to ask casual questions.
Re: WordPress.com accepts Bitcoin
#33lots on news this week n accpeting bitocoin! reddit is looking into this too! the world is shifting to bitcoin!! if it is indeed less inflationary/deflationary than we can just transfer USD into bitcoin on www.coinbase.com (which is pretty much paypal for bitcoin) - S12 YC company
> the world is shifting to bitcoin!!
I think that wins the prize for the most hyped remark on HN, ever. Really, the world has not shifted to bitcoin, it won't shift to bitcoin in the near future and possibly never.
Bitcoins are interesting, a very nice implementation of the idea of a digital currency with some thought provoking possible consequences. (See: http://en.wikipedia.org/wiki/Assassination_market), but it isn't a general currency at all, let alone that the world is switching to it.
What you are seeing is that a few companies have caught on to using bitcoin as a way to promote themselves because 'accepting bitcoin' is a way to get free press.
Can you get by for a month just spending bitcoin without any other resources than bitcoins at the beginning of the month, sufficient for a normal months' worth expenses?
When you can go to your local greengrocer and buy an apple with bitcoin I'll cede to you that the world has indeed switched to bitcoin. Until then, it's neat but not quite there yet.
Re: WordPress.com accepts Bitcoin
#34Aren't there regulations around trade with certain countries? Can anybody speak to the issues around a US company accepting payments from people in countries that aren't too friendly with the US?
How will you prove that you traded with a country, company or individual that is embargoed?
Re: WordPress.com accepts Bitcoin
#35Earlier quoted context omitted.
ideology behind the currency is fascinating and remarkable I'm going to take the liberty to nit pick. There isn't any ideology behind bitcoin. It's just a protocol. Among existing serious bitcoin users, there's a pretty diverse range of political opinions (some of which I find pretty distasteful), plus disagreement on the actual merits and potential demerits of bitcoin.
Bitcoin does have a particular monetary policy coded into it, which can be seen as an ideology.
"Monetary policy" and "ideology" are two distinct and separate concepts.
I'm not even sure I would be in favor of labelling bitcoin as having a "monetary policy." Monetary policy describes governmental policy-making. The rules of the bitcon protocol are also unlike "policy" in that they can never change.
I know I'm nit picking, but I think that it's really important to keep concepts clear and crisp. (There's a bit of ideology for you!)
Re: WordPress.com accepts Bitcoin
#36lots on news this week n accpeting bitocoin! reddit is looking into this too! the world is shifting to bitcoin!! if it is indeed less inflationary/deflationary than we can just transfer USD into bitcoin on www.coinbase.com (which is pretty much paypal for bitcoin) - S12 YC company
[deleted]
Re: WordPress.com accepts Bitcoin
#37Aren't there regulations around trade with certain countries? Can anybody speak to the issues around a US company accepting payments from people in countries that aren't too friendly with the US?
There are some tax issues with receiving money from certain foreign countries ("terrorist" nations or "israel boycott" nations) that limits tax attributes related to income received from such nations, so you get taxed on such income but generally are limited in your ability to deduct expenses related to such income.
Legally, there are some export laws that may apply, but those depend on the good or service being exchanged.
Re: WordPress.com accepts Bitcoin
#38Aren't there regulations around trade with certain countries? Can anybody speak to the issues around a US company accepting payments from people in countries that aren't too friendly with the US?
How will you prove that you traded with a country, company or individual that is embargoed?
You don't have to prove anything; that is the job of the prosecuting agency.
Re: WordPress.com accepts Bitcoin
#39Wow, that's big news. Now they just need a client that doesn't take days to download the block chain :| Seriously, I wonder if one of the bigger barriers to bitcoin adoption is the lame official application.
I've been using blockchain.info for the past week and love it, the Android app is great, the wallet is encrypted client-side, it backs up to Dropbox, it's just great.
Re: WordPress.com accepts Bitcoin
#40Accepting Bitcoin is much easier than it was a year ago. At NameTerrific[1] we use Blockchain Wallet[2] to temporarily hold transactional funds.
Whenever a customer places an order and chooses to pay by Bitcoin, we will use Blockchain API to generate a Bitcoin address for the invoice. After the customer pays, they can press a "Check Payment" button and then the system will simply check the balance of the Bitcoin address generated. If it's greater than or equal to the invoice balance, it's considered "paid".
We keep a history of Bitcoin exchange rates (the NameTerrific rate) for tax purposes. All invoices have records of the applied BTC/USD exchange rate so they can be translated into fiat amounts in the books. For Australians, the GST is being accounted using the daily rate method (BTC/USD rate from the invoice, and daily AUD/USD rate from an official source).
The wallet gets cleared every 10 BTC or so to prevent theft.
[1]: https://www.nameterrific.com
[2]: https://blockchain.info/wallet/
EDIT: WordPress.com accepting Bitcoin is huge.