Bitcoins now accepted for subscription payments

[blantonl]

If you are interested in becoming a premium subscriber or renewing your subscription using Bitcoins, great news, we now accept Bitcoins as a payment option.

Simply send the subscription payment in Bitcoins to the following address and include your username in the notes of the transaction, and we'll get you credited.

Our Bitcoin address is:

RadioReference.com:

188GNR3XiKLiGVfdjLBnVRrpBYVtRyTbpe

You can also use the attached QR Code.

I wonder who will be our first subscriber/renewer using Bitcoins.... :wink:

 

[productionguy85]

Won't be me (sorry), I don't even know what a "bitcoin" is. LOL

 

[Romak3]

subscribed LOL!!

 

[jack103]

Sounds like another Madoff ripoff!

 

[N1XDS]

Bitcoins is like Paypal and Bill Me Later ''Paypal'' another way to send money to someone.

 

[restonham]

Bitcoins is like Paypal and Bill Me Later ''Paypal'' another way to send money to someone.

No, it isn't. There is no government sanctioned exchange rate for bitcoins. It floats hourly and people attempt to "mine" them with computers. Very few countries even allow transactions to be conducted in them. They have no inherent value - as in, there is absolutely nothing behind them. The entire operation could go belly up overnight and no user would have any recourse. Bitcoins are a precursor to a worldwide electronic system - but this ain't it. At the moment, the primary users of bitcoins are speculators, dealers in illegal goods or services, tax evaders and possibly terrorists and rogue governments. Other than these groups, why would anyone trade trade anything for payment in bitcoins. The only people who are making any money off bitcoins are those who got in early when many were easily available. There is a finite supply. When they reach some predetermined limit, no new ones will be available. Guess who gets screwed then.

 

[QDP2012]

Thank you Mr. Blanton for the update.

The LATimes posted an article in which they state "The minimum time required to complete a trade in bitcoins is ten minutes; that's about how long you should hold them to keep exchange rate risk low." (I put a link to it in the Tavern:News and Events.)

Since all vendors who accept BitCoin-type currencies face the same situation you face, I am curious how you plan to process the BitCoins. Are you planning to convert them to USD soon after receiving payment to avoid value-loss from decreasing exchange-rate, or are you planning to hold them in hopes of some future increase in value?

It seems like vendors that accept BitCoins could find themselves feeling like "day-traders" in their efforts to avoid exchange-rate value-loss.

Thanks,

 

[blantonl]

They have no inherent value - as in, there is absolutely nothing behind them.

Someone had to use currency (in some way shape or form) to purchase/earn a bitcoin. I would argue that Bitcoin has many currencies "behind" them.

You might want to read up on how bitcoin works..

Bitcoin - Wikipedia, the free encyclopedia

Bitcoin is a significant economy in the making....

 

[n5ims]

Someone had to use currency (in some way shape or form) to purchase/earn a bitcoin. I would argue that Bitcoin has many currencies "behind" them.

You might want to read up on how bitcoin works..

Bitcoin - Wikipedia, the free encyclopedia

Bitcoin is a significant economy in the making....

Sorry, Lindsay, but the same thing could be said about using bubble gum as currency. Somebody had to purchase it using some kind of currency. The difference is Bitcoins have a more established way of exchanging them (and no shipping necessary since Bitcoins are more or less virtual while bubble gum is physical). Now if Double Bubble could come up with an exchange and a way to use them as payment for goods/services, they may give Bitcoins a run for their virtual money! At least if they both went under, you could chew your bubble gum while the Bitcoins there wouldn't be anything left but some angry customers.

 

[Darth_vader]

And now there's this:

http://www.latimes.com/business/hiltzik/la-fi-mh-the-bitcoin-crash-20131207,0,7011276.story

 

[restonham]

According to Mt Gox, one the bitcoin exchanges, the value of a single bitcoin was $558.96 at 11:48 EST on December 18, 2013. The reason I say "approximately" is that the value changes constantly.

What fun. BTW, really good LA Times articles. Thanks.

 

[fourthhorseman]

Fantastic to hear...
Been using BTC for about a year now..Glad to see
RR moving with the times..Max Kaiser would be proud!

Have you had any users make payment yet?..

Just sent mine in..Hope Im the First!

 

[cifd64]

When will you accept happy thoughts and rainbows as payment? I need to renew soon.

 

[fourthhorseman]

Thats good.
So USD is a solid currency?..Let the FED Reserve.
which is no better than the Govt's personal credit card
just create dollars with keystrokes..then wire
it to the treasury? End of the day we owe China the
red ink...

Its ALL Fiat sir..Euro,Brit Pound..USD..Yaun..

BTC feels real to me, I recently got a
396XT & 996XT paid for by Bitcoin..

 

[blantonl]

fourthhorseman, I see your transaction - we're waiting for the block chain to completely update on our end (first time setup). We'll have you credited shortly.

Thanks!

 

[eorange]

Interesting you support this...but no thank you in a million years. The only thing significant about BC is how it manages to align itself with illegal businesses and negative press.

 

[blantonl]

Read this Newsweek article from 1995:

Why the Web Won't Be Nirvana

Then read this:

Exclusive: Overstock.com to Begin Accepting Bitcoin Second Half of 2014 - newsBTC : newsBTC – Today's Bitcoin News

And then this:

http://blog.coinbase.com/post/69775463031

 

[fourthhorseman]

BITCOIN Success on RadioReference!

Just to note..
Made my payment and all was smooth!

Thank you!

 

[restonham]

Interesting. Last night a bitcoin was worth about $559, now (1:29 PM) about $626. I understand that all currencies are fiat currencies and fluctuate against each other. But they don't fluctuate internally - as in - prices in stores in the US, England, France, Germany, etc., generally don't move hourly, daily or even weekly based on their value against other currencies. There are long term movements, but they tend to be slow and relatively small. The type of swings that bitcoin makes are more in line with an extremely speculative stock. If a price for an item is a fixed amount of bitcoins, then one party will make a profit and one will have a loss. It's unlikely that the transaction rate will remain constant long enough for the seller to get what the buyer paid for the bitcoins or his asking price. For small amounts, this is meaningless, but for large transactions, it could be disastrous.

Anyway, I do not understand the value of using bitcoins for the average person for domestic transactions. Why would I want to buy Euros to buy something at Macys which will then convert them to dollars. Mt Gox makes money off transaction fees both ways - there is no free lunch. There is no rationale for using bitcoins for legal transactions in a first world country except speculation or tax avoidance (or maybe experimentation, just to understand what they are).

BTW, Mr. Fourthhorseman, are you really death?

 

[productionguy85]

Interesting. Last night a bitcoin was worth about $559, now (1:29 PM) about $626.

So if, 1 bitcoin is worth $626 REAL USD. 1) How does that work out with purchasing something such as the subscription for $60 USD? and 2) How/ where does one pay for bitcoins.

What is the advantage of buying these "bitcoins" over real US Money?