Entropia the first MMO to accept Bitcoin?

they get charged 3.5% because that is what the deposit fee is. MA would save nothing as they already pass on the fee.

Ok, but with btc, there would be less of a fee to pass on then which would be better.

Hundred thousands of dollars a year? :laugh:
Thats pure fantasy. The deposits are around 10 MUSD/year or less. Even if Lets say 4 % disappear in fees, that's 400 000 USD. Let's say 5 % of the players would you bitcoin instead, that would be 5%x400 000 USD=20 000 USD theoretical that could be saved. BUT...

1. We pay the fees today, not MA.
2. Useing Bitcoins are not free, it will also take fees on transactions. (the miners want money)
3. The market/companies that buying and sells the bitcoins also want fees, different buying/selling rate on the currency.
4. And as I already said before, no system is free to run, it needs maintenance.
5. Not even 5 % of the players would use bitcoins to the make their deposits.

So in the in it would probably not give any benefit at all.

1. So with bitcoin, we pay less fees.
2. The miner's cut is nominal, less than 40 cents US.
3. Companies such as Coinbase charge a 1% vig for their service. They base their conversion on the current market price of bitcoin if they wish to stay competitive. What they do with their btc after the transaction is completed has nothing to do with MA anymore.
4. Yeah, no shit. No disagreement there. And some systems are more convenient than others for some people. So what?
5. It's doubtful that too many people would take advantage of using btc as a payment option at first. I'll grant you that just because bitcoin hasn't reached anything near mainstream use yet. However, in time, like in a few years as people come to realize bitcoin's utility, its use will become more widespread.

No benefit at all? Classic. I know you mean it in the context of EU, MA and players, but still its funny in that its the same thing the misinformed/underinformed/those fearful of change and new technology always say. They said it about the automobile, electricity, the telephone, computers, DVDs, internet protocol, etc, etc.

"So in the end, [insert new technology/innovation here] would probably not give any benefit at all."

Ask the credit card customers of the retail chain Target if they think a system where you can conveniently pay without having to give the company full access to your credit card/bank/personal information would be beneficial.


I think previous posters have already enumerated the benefits of bitcoin, both in general and in relation to MA/EU/players in this thread. But of course, you are certainly entitled to your opinion whatever your level of understanding of bitcoin may be.

Just to add, if MA were to add btc as a deposit option, it would just be another option. No one would be forced to use it. If you want to keep using your cc, you would still be able to.
 
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we can use our credit card so how do you buy bitcoins probly the same credit cards

if you buy direct from you bank account you can do the same now

for me i see no andvantage the only problem if bit coin were 2 dollar to buy a wile back and now over 1000 then the same process can happen someone made a profit from that it had to come somewere

money dont grow on trees
 
we can use our credit card so how do you buy bitcoins probly the same credit cards

if you buy direct from you bank account you can do the same now

for me i see no andvantage the only problem if bit coin were 2 dollar to buy a wile back and now over 1000 then the same process can happen someone made a profit from that it had to come somewere

money dont grow on trees

Credit Cards are just one way of obtaining bitcoins. Doesn't take much effort to learn of others.

Yours is a common sentiment/excuse for not buying into bitcoin or any other type of investment/speculation for that matter. Which is perfectly fine. If that's how you feel, then that's how you feel. Better to be safe and go with what you know and just stick with regular fiat money and credit cards.

And you're right, money dont grow on trees.

PS. JD Racing sounds very familiar. Did/Do you ever play Counter-Strike Source on the Monsterservers by chance?
 
Credit Cards are just one way of obtaining bitcoins. Doesn't take much effort to learn of others.

But you will never come around the problem that to pay with Bitcoin you must buy them and that will be associated with a cost. So you get when fee to buy the Bitcoin and one fee for the payment from your Bitcoin wallet to MA. Why not just pay directly with my card?

And this will be funny:
"Bitcoins are property, not currency, IRS says regarding taxes"
http://www.reuters.com/article/2014/03/25/us-bitcoin-irs-idUSBREA2O1LR20140325

"On the IRS guidance, William Lewis, a lawyer in Sunnyvale, California, who represents a start-up company creating a platform for virtual currencies, said: "This is going to be unfavorable to bitcoin miners because they're going to have to include in income the fair market value of the virtual currency on the date they mined it.

"It's going to make life difficult for a lot of people who have been mining over the past year, who have to go back and see what the values were on those dates when they mined it."


Will be fun for the miners that mined a lot of bitcoins when the rate was much higher than today and have not sold them. I wonder where they will find the money to pay the taxes. :silly2:

It's just to many questionnaires around bitcoin to recommend MA to use it.
 
But you will never come around the problem that to pay with Bitcoin you must buy them and that will be associated with a cost. So you get when fee to buy the Bitcoin and one fee for the payment from your Bitcoin wallet to MA. Why not just pay directly with my card?

And this will be funny:
"Bitcoins are property, not currency, IRS says regarding taxes"
http://www.reuters.com/article/2014/03/25/us-bitcoin-irs-idUSBREA2O1LR20140325

"On the IRS guidance, William Lewis, a lawyer in Sunnyvale, California, who represents a start-up company creating a platform for virtual currencies, said: "This is going to be unfavorable to bitcoin miners because they're going to have to include in income the fair market value of the virtual currency on the date they mined it.

"It's going to make life difficult for a lot of people who have been mining over the past year, who have to go back and see what the values were on those dates when they mined it."


Will be fun for the miners that mined a lot of bitcoins when the rate was much higher than today and have not sold them. I wonder where they will find the money to pay the taxes. :silly2:

It's just to many questionnaires around bitcoin to recommend MA to use it.

Of course there is a cost to acquiring bitcoin. There's a cost to acquiring anything of value. Most people don't live in a Socialist Utopian Universe where things are given out for free. If the fact that acquiring bitcoins at a cost is a dealbreaker for someone, then well, I don't know what else to say other than stay away from bitcoins then?

Adding an option for bitcoin as a deposit method would be just that, an added option. It's not like the option/ability to to use one's credit card to deposit would be removed or hindered in an way. Those who are happy to deposit via credit card would be able to continue doing so as always. Adding an option for bitcoin would allow MA to accept deposits from those with bitcoin via services provided by companies such as Coinbase.

How are more deposit options bad for MA as long as there are those utilizing them?

As far as the IRS guidlines, I am not a tax lawyer or an accountant. Word on reddit and bitcointalk.org regarding it is that these guidelines are not yet set in stone and that there will be much debate in the tax courts and revisions to it are expected. As far as miners go, there are being discussed legal workarounds aside from the discussion as to whether mining them is a taxable event. But I think all that is beyond the scope of this thread. In any case, if I were a miner and had mined any significant amount of bitcoins, I would definitely be hiring both a tax lawyer and a CPA.

Anyone who has been following bitcoin will know that the big players/investors (not even talking about the venture capitalists who have already begun sinking millions into developing apps for the bitcoin protocol since before last year) have been waiting on the sidelines screaming for the IRS to put out guidelines as to how bitcoin will be taxed so as to know the rules of the game before they jump in with both feet (and all their millions). And now that the IRS have done so... well,
 
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If the fact that acquiring bitcoins at a cost is a dealbreaker for someone, then well, I don't know what else to say other than stay away from bitcoins then?

For most people who aren't into the bitcoin business already or like to gamble on the market (ie bitcoin currency), it sounds like a detour to buy bitcoins for the sole purpose of spending them in a Place where you could uave used a major currency in the first Place.

One of the problems with bitcoins is that the Exchange rate isn't as stable as major IRL currencies, and isn't backed up by national banks to reduce swings. The rate of bitcoins can go up as it goes harder and harder to mine, but it can sink if a founding father suddently decides to sell 10% of total bitcoin supply or if a public Exchange goes bust (reducing the "trust", and making it harder to turn bitcoins into IRL currency).
 
For most people who aren't into the bitcoin business already or like to gamble on the market (ie bitcoin currency), it sounds like a detour to buy bitcoins for the sole purpose of spending them in a Place where you could uave used a major currency in the first Place.

One of the problems with bitcoins is that the Exchange rate isn't as stable as major IRL currencies, and isn't backed up by national banks to reduce swings. The rate of bitcoins can go up as it goes harder and harder to mine, but it can sink if a founding father suddently decides to sell 10% of total bitcoin supply or if a public Exchange goes bust (reducing the "trust", and making it harder to turn bitcoins into IRL currency).

I completely understand and respect the fact that people have various prohibitive reasons for not wanting to buy/get into/have anything to do with bitcoin. To be frankly honest, I’m not at all concerned about those who are afraid/anti-bitcoin for whatever reason. Just like I couldn’t care less about anyone who would refuse to use the internet for whatever reason. What do I care?

I have no compelling desire to convert bitcoin haters or try to get regular Joe Blows to jump on the train. Bitcoin the protocol and bitcoin the currency are reaching a stage now - if not already - where the naysayers and FUD spreaders are irrelevant and all the information needed is out there for any interested Joe Blow to examine and make their own decision about whether or not Bitcoin has any use for them. When the IRS puts out guidelines as to how something will be taxed, that should give you a clue that that something isn’t going away anytime soon.

Anyway, my point is, I am advocating for those that are already into/have bitcoin and more power to those who see no point in bitcoin.
 
How are more deposit options bad for MA as long as there are those utilizing them?

I just point out the "problems" with bitcoins as a factor against people using it as a payment method. I don't believe bitcoins will be used by ordinary people and very few would use it to deposit to EU. It just not worth the energy and cost for MA, but if they could find a cheap solution and easy solution, sure it's okey for me.
 
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