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WordPress To Accept Bitcoins 205

Posted by samzenpus
from the what-about-gold? dept.
angry tapir writes "WordPress has said it will accept payment in bitcoins, opening up the blogging platform to payments from users in countries not supported by PayPal or credit card companies. WordPress is free, open-source software, but the company Automattic offers paid-for features such as blog designs, custom domains, hosting partnerships and anti-spam measures."
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WordPress To Accept Bitcoins

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  • maybe... (Score:3, Interesting)

    by Anonymous Coward on Friday November 16, 2012 @06:26AM (#41999895)

    Is Paypal feeling threatened yet?

  • Now (Score:2, Informative)

    by Anonymous Coward

    It's accepting Bitcoin "now" ;)

  • by shokk (187512) <ernieoporto@COWyahoo.com minus herbivore> on Friday November 16, 2012 @07:43AM (#42000111) Homepage Journal

    Bitcoin will never be mainstream until we can buy a hotdog from a street vendor with it.

    • Re: (Score:2, Informative)

      by Anonymous Coward

      That's already the case, at least in in New York and Berlin.

    • by IamTheRealMike (537420) <mike@plan99.net> on Friday November 16, 2012 @08:03AM (#42000183) Homepage
      If you go to Room 77 in Berlin you can buy burgers and beer with Bitcoins. You pay with your mobile phone. I've done it, it's easy. The guy who runs Room 77 is a huge Bitcoin fan and recently announced that 4 more shops in Berlin are now accepting Bitcoins too.
      • by Rich0 (548339)

        That seems odd. I thought that bitcoins could only change hands when a new block is added to the chain, or something like that. While I'm sure that happens multiple times per day, I doubt it happens in the matter of seconds a credit card transaction takes.

        Now, you could probably post the transaction quickly, but it wouldn't be verified/etc until the next block comes along. I'd need to re-read the docs to be sure on that...

        • That is not how the Bitcoin network works. When you initiate a transaction, it goes out on the P2P network, and can reach the recipient in a matter of seconds (however fast the network is). People running the "mining" software validate the transaction by seeing what the balance was in the sender's account. That is possible because *everyone* has a copy of the transaction history, otherwise known as the "block chain". So every transaction in and out of the sender's account number is known, and therefore

          • by Rich0 (548339)

            What about double-spending? I would think that this would be the main reason to delay accepting a transaction until it is in the block chain. That essentially makes it final - otherwise I could go spend my entire balance at 15 places at the same time and none would be the wiser if they didn't wait for things to propagate.

    • by lwsimon (724555)

      There's a pawn shop in my town, in rural Arkansas, that accepts Bitcoin. I've bought guns with it, legally.

    • No no, you've got it all wrong. Bitcoins will become popular as soon as hipsters become aware of it's existence. Right now, most hipsters aren't aware of bitcoins - the news feeds on their latest iGadget doesn't usually run stories on bitcoins. And they don't read "mainstream" techie sites like /. - they prefer to get their news from their local independent free magazines, and from carrier pigeons (which don't run stories on bitcoins).

      But eventually one will hear about it, and when they do - they'll
  • by slim (1652) <john@ha[ ]up.net ['rtn' in gap]> on Friday November 16, 2012 @07:49AM (#42000135) Homepage

    They're using BitPay. Assuming BitPay's charges are reasonable, it seems like a bit of a no-brainer.

    Wordpress makes some simple API calls to BitPay. If someone pays in BitCoin, BitPay converts it to dollars, takes a processing fee, and adds it to Wordpress's balance. Wordpress can treat it as dollars from that point on, so tricky tax/accounting issues.

    On that basis, why would you *not* accept BitCoin, if you think there are customers keen to spend them?

    BitPay has to deal with tax/accounting/legality issues, but that's their business.

    • Re: (Score:2, Interesting)

      by Anonymous Coward

      On that basis, why would you *not* accept BitCoin [...]

      I suppose that was a rhetorical question, but one reason would be that paypal and others refuse to allow them to use their (paypal's) service because of it, as has been rumored to happen before. Or was that some other payment service ?

    • On that basis, why would you *not* accept BitCoin, if you think there are customers keen to spend them?

      There's more to such a decision than just tax/accounting issues... What is the 'float' - the time between BitPay collecting on my behalf and when they credit it to my account? How often can I collect my balance from BitPay and are there fees for the transfer? (The answers are "daily" and "yes, but not directly" according to BitPay, and there are sharp daily limits to boot.) Then you have to make what's

  • by bigsexyjoe (581721) on Friday November 16, 2012 @08:08AM (#42000197)

    I will pay you five billion bigsexyjoe nickels to stop running bitcoin stories.

  • by vikingpower (768921) <exercitussolus.gmail@com> on Friday November 16, 2012 @08:12AM (#42000217) Homepage Journal
    two weeks ago, there already was a story here on the European Central Bank doing some thoughtwork on Bitcoin. [slashdot.org]

    You'll see, Bitcoin is gonna be mainstream before ya know it. And a big finger up into the air to all the naysayers and cynics here.

    • by drinkypoo (153816)

      Yeah, that or the big banks are about to vaporize it, arresting all the key players in bitcoin on some kind of bullshit currency fraud charges.

      • by gox (1595435)

        Umm, like how they did with the BitTorrent network? If you think about it though, distributed hash table is indeed more vapor-like than trackers...

    • by tlhIngan (30335)

      You'll see, Bitcoin is gonna be mainstream before ya know it. And a big finger up into the air to all the naysayers and cynics here.

      Well, Wall Street hasn't found a way to monetize it properly yet, so, it's not mainstream. That and deflationary issues with it since it's fixed amount - the more people start using bitcoin, the less to go around, so either you'll need fractional coins, or you'll be paying $20 for a cup of coffee as that's the price of 1 coin today, and $40 tomorrow.

      The real fun starts when Wal

      • since it's fixed amount - the more people start using bitcoin, the less to go around, so either you'll need fractional coins, or you'll be paying $20 for a cup of coffee as that's the price of 1 coin today, and $40 tomorrow.

        Bitcoin is divisible to 8 decimal places. So if you treat the last decimal place (0.01 microcoins) as a penny, the total of 21 million full coins to be issued would equate to $21 trillion US. That should be enough for any currency.

  • I have no words except these: fare ye well.

  • So, the guys at WordPress sell drugs now? Good to know.
  • by Beerdood (1451859) on Friday November 16, 2012 @01:25PM (#42002993)
    "Bitcoin is a ponzi scheme and will NEVER be popular or mainstream, and I will continue to shout this mantra for any story on bitcoins on Slashdot. This includes stories that contradict my position - such as this one. As a tekkie of some sorts, I am still bitter that I never involved myself with bitcoin mining during the early days despite having the resources available at the time - and I will continue spewing this nonsense until this self-fulfilling prophecy becomes true. Either that or I work for a bank / paypal"
  • Now every script kiddie out there will be able to steal your bitcoins in addition to turning your website into a phishing page.

    Do you have any idea how many phishing and malware links have wp-admin, wp-content, or wp-includes in the URL?

    Take a look for yourself at Phishtank.com [phishtank.com]!

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