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Possibility of Bitcoin discount?
0
Bunny5390
The Defenestrator!
Ok, so Jacob said here that one of the main reasons for the cost of a subscription is the high overhead from payment processors, due to being an adult site:
Selling adult content is also what made Coinbase kick you out and Bitpay not really want to accept you.
However
Basically, what it comes down to is the processors that have partnered with banks to give themselves the ability to convert bitcoin to USD on their service have to listen to what to banks say. And for the most part, most banks aren't comfortable dealing with 18+ content.
So currently I'm looking at some methods of rolling our own processor for bitcoin instead. This will give us the freedom we need to make sure it's always available to you. And at that point it'll probably be more anonymous too compared to coinbase or bitpay which require personal information.
So.. that's the status of it :)
According to what Kisuka said there^, it looks like you guys are going to be doing Bitcoin transaction processing yourselves, as opposed to a third party payment processor.
I'd assume that that would mean that transactions using Bitcoin would cost almost nothing to process.
If that's the case, would it be possible to offer a discount on subscriptions purchased using Bitcoin?
Like how some brick-and-mortar stores will give you a discount for paying with cash, since they won't lose 3%+ of their sale to credit card companies.
Jacob wrote...
Being an adult company means we have a lot more hoops to jump through to do business, the main one being accepting payment from customers. As a result we have to pay higher fees to the companies that do the actual payment processing. So in regard to price, we aren't competing with other services like Crunchyroll, Netflix, Hulu, etc. It's more appropriate to look at what other adult sites charge for membership and go from there, when you do that you'll see that we are priced appropriately.Selling adult content is also what made Coinbase kick you out and Bitpay not really want to accept you.
However
Kisuka wrote...
Currently I'm looking into methods of rolling out our own bitcoin processor to avoid any future issues like what happened with coinbase. We got all the stuff done for taking bitpay but it seems they also are a bit touchy with 18+ content.Basically, what it comes down to is the processors that have partnered with banks to give themselves the ability to convert bitcoin to USD on their service have to listen to what to banks say. And for the most part, most banks aren't comfortable dealing with 18+ content.
So currently I'm looking at some methods of rolling our own processor for bitcoin instead. This will give us the freedom we need to make sure it's always available to you. And at that point it'll probably be more anonymous too compared to coinbase or bitpay which require personal information.
So.. that's the status of it :)
According to what Kisuka said there^, it looks like you guys are going to be doing Bitcoin transaction processing yourselves, as opposed to a third party payment processor.
I'd assume that that would mean that transactions using Bitcoin would cost almost nothing to process.
If that's the case, would it be possible to offer a discount on subscriptions purchased using Bitcoin?
Like how some brick-and-mortar stores will give you a discount for paying with cash, since they won't lose 3%+ of their sale to credit card companies.
1
sadmir
Moe Connoisseur
There would still be transaction fees from turning bitcoins into actual money. But I guess those might be lower.
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Bunny5390
The Defenestrator!
sadmir wrote...
There would still be transaction fees from turning bitcoins into actual money. But I guess those might be lower.Good point. But apparently they had around ~5000$ in unconverted Bitcoin before Coinbase stopped processing payments for them*, so that might not be too big of an issue.
*Source: https://www.reddit.com/r/Bitcoin/comments/3u5b1d/my_exchange_with_coinbase_ceo_brian_armstrong/
0
sadmir
Moe Connoisseur
george4 wrote...
But apparently they had around ~5000$ in unconverted Bitcoin before Coinbase stopped processing payments for them*, so that might not be too big of an issue.Not sure I understand your point exactly. They still need someone to covert Bitcoins to US Dollars. I don't think Wani or their employees will accept payment in Bitcoins and even if they did that would be the ones paying the fee.
I don't think there is service that converts bitcoins to other currencies without charging for it, and the ones I've seen charge more than credit card companies.
