I recently thought about whether or not DomainingServers.com should accept Bitcoins and ultimately decided against it. For now, it’s just not worth it and here’s why:
1) I’m not sure what I should do with them. Ok, I’ll have bitcoins but what should I spend them on?
2) Another hosting website owner once shared his experience after accepting Bitcoins and explained that most of the customers that ended up signing up were shady to say the least. Not good.
3) I don’t think enough people would be interested in paying via Bitcoin for all of this hassle to be worth it.
All 3 reasons basically revolve around Bitcoin acceptance. Once or better said if Bitcoins end up becoming let’s say mainstream then sure, I might decide to accept them and I’m sure other service providers feel the same way.
But for now, it’s just not worth it in my opinion.
April 14th, 2013 at 11:13 pm
You could use a service like https://bitpay.com/ and not have to worry about bitcoin. They immediately transfer the money to USD and give that to you instead of bitcoins.
April 15th, 2013 at 7:24 am
The USD is falling but the bit coin stuff is still pretty eratic, not sure if it’s worth it either.
April 15th, 2013 at 2:00 pm
@Niche: at this point, the USD is actually doing pretty well. It’s getting stronger compared to the Euro and the Yen, also compared to precious metals etc.
April 16th, 2013 at 10:13 am
The most problematic reason not to accept Bitcoins is the crazy volatility in their value.
To accept them you would need to sell them immediately to retain the value you had just given them for your services.
Imagine, if you gave value in services to someone who paid in Bitcoins when they were at $260.00 per Bitcoin.
Then two hours later they were selling at $120.00 per Bitcoin.
Too risky.