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Index » Radio Paradise/General » About RP » Donating with Bitcoin - why not?
Post to this Topic
BillG

BillG Avatar

Location: Left Coast
Gender: Male


Posted: Nov 24, 2020 - 2:32pm

I know it took a while, but we are now accepting payments in BTC, ETH, & XMR.

Addresses & QR codes here.

jancici

jancici Avatar



Posted: Mar 17, 2020 - 9:20am



  wrote:
BillG: "What I've been on the lookout for is a company that accepts payments in assorted cryptocurrencies, processes them, and then forwards payments in dollars or euros. Seems like if the overall trend in crypto value is up that there would be a decent business model there. But I haven't seen anyone doing that kind of service. If I've missed something, I'd love to hear about it."
Even though that skewes the whole concept of Bitcoin, this might be a good way for you to start. Unfortunately at this stage I can't recommend any service like that.

I believe there is one more option. You simply generate your Bitcoin wallet with offline keys and add Bitcoin addresses somewhere, not necessarily on the Donation page, but perhaps Contact / About me. That way you still receive a donation over your preferred channels, Paypal / Visa (so you can sustain your service), but you leave a room for people which could send you a donation over crypto-currency. For you that would be just bonus over regular donations.
Regarding the accounting, I am not sure what obligation you have to do in the US if you receive crypto goods, but you don't spend it or don't convert it to anything. Perhaps you can leave it on the offline account for years before you even look on it. And since you don't touch it, you might not need the accounting burden.
I would suggest you to contact an accountant and perhaps speak to someone from your trusted circle to help you to set up Bitcoin offline wallet, bear in mind to protect the keys properly.

All the best from Poland !
 
+1






oldviolin

oldviolin Avatar

Location: esse quam videri
Gender: Male


Posted: Oct 1, 2018 - 11:38am



 ScottFromWyoming wrote:


 oldviolin wrote:
I have to admit that I didn't know that bacon was an optional donation but then I'm not exactly atheistic... Oh wait...
 

You're thinking of Bacoin.
 

Stands to reason...
oldviolin

oldviolin Avatar

Location: esse quam videri
Gender: Male


Posted: Oct 1, 2018 - 11:36am



 islander wrote:


 oldviolin wrote:
I have to admit that I didn't know that bacon was an optional donation but then I'm not exactly atheistic... Oh wait...
 

I would explain it, but you are clearly not breakfast savvy so I'll need an interpreter steeped in pudding.
 

Ah ha. A proof broker. I knew someone would step up...I'm faithful you see...
islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Oct 1, 2018 - 11:32am



 oldviolin wrote:
I have to admit that I didn't know that bacon was an optional donation but then I'm not exactly atheistic... Oh wait...
 

I would explain it, but you are clearly not breakfast savvy so I'll need an interpreter steeped in pudding.
ScottFromWyoming

ScottFromWyoming Avatar

Location: Powell
Gender: Male


Posted: Oct 1, 2018 - 11:19am



 oldviolin wrote:
I have to admit that I didn't know that bacon was an optional donation but then I'm not exactly atheistic... Oh wait...
 

You're thinking of Bacoin.
pigtail

pigtail Avatar

Location: Southern California
Gender: Female


Posted: Oct 1, 2018 - 11:00am

 oldviolin wrote:
I have to admit that I didn't know that bacon was an optional donation but then I'm not exactly atheistic... Oh wait...

 
Negotiations with bacon are always welcome!


oldviolin

oldviolin Avatar

Location: esse quam videri
Gender: Male


Posted: Oct 1, 2018 - 10:57am

I have to admit that I didn't know that bacon was an optional donation but then I'm not exactly atheistic... Oh wait...
BillG

BillG Avatar

Location: Left Coast
Gender: Male


Posted: Sep 30, 2018 - 7:13pm



 islander wrote:


When I ran the data center, one of our sales guys had a moderately sized customer that wanted to pay in bitcoin. The sales guy really pushed it as a positive, and said I would look like a fool if I passed on the deal. So I said we would take them, but pay his commision in bitcoin. He declined. 

We later looked at options for taking bitcoin payments and eventually did take some. But as Bill noted, it was an accounting headache, and on balance I think all it really did was get us access to some mediocre customers. 

 

For a while, we accepted bitcoin through our credit card provider (Stripe), but they stopped processing bitcoin payments earlier this year. They found that even if you convert bitcoin transactions into $ more or less immediately, the short-term volatility caused lots of discrepancies and problems. 

For a business conducted entirely in alternative currencies (like, I dunno, online drug dealers for example) or for informal payments between individuals, I'm sure that bitcoin, etc. works fine. 

However, things get messy when you try to interface with normal business models and practices.  

What I've been on the lookout for is a company that accepts payments in assorted cryptocurrencies, processes them, and then forwards payments in dollars or euros. Seems like if the overall trend in crypto value is up that there would be a decent business model there. But I haven't seen anyone doing that kind of service. If I've missed something, I'd love to hear about it.
Red_Dragon

Red_Dragon Avatar



Posted: Sep 30, 2018 - 7:04pm

 islander wrote:


When I ran the data center, one of our sales guys had a moderately sized customer that wanted to pay in bitcoin. The sales guy really pushed it as a positive, and said I would look like a fool if I passed on the deal. So I said we would take them, but pay his commision in bitcoin. He declined. 

We later looked at options for taking bitcoin payments and eventually did take some. But as Bill noted, it was an accounting headache, and on balance I think all it really did was get us access to some mediocre customers. 
 
I still don't get Bitcoin. You have to purchase it with actual cash, so...
islander

islander Avatar

Location: Seattle
Gender: Male


Posted: Sep 30, 2018 - 6:58pm

 Steely_D wrote:


 BillG wrote:


  wrote:
The thing is that I am actively moving off the world of government inflated currencies (FIAT currencies), whilst I would like you to send you a donation, I can't since I am not using debit card, nor Paypal. I believe supporting big players like Visa/Mastercard or dying monsters like Paypal isn't making this world any better and only increases the division between middle-class and the rich. Hence I don't use them, it's ideological.
 
I would be happy to send you a payment in Bitcoins. For you to receive payments in Bitcoin you don't need anything else than a wallet, which can be set up easily and free.
I don't want to post any links here, but I can recommend wallets recommended on the Bitcoin (the one with the .org, not the .com) domain.
 
We're looking into options on that subject. It's a bit more complicated than you might think, due to accounting & tax issues.
 

But Bitcoin isn't a viable currency since it has a volatile value over time; it's a commodity or an investment, like buying gold coins, and only available to the tech-savvy and certainly not the average businessman. (Yes, I know BillG isn't average!)

Right now, its value is only about 1/3 of what it was at its 19K peak. If someone donated to you in BTC back at that peak, the best first move would have been to convert it to fiat so its value remained relatively intact.

 

When I ran the data center, one of our sales guys had a moderately sized customer that wanted to pay in bitcoin. The sales guy really pushed it as a positive, and said I would look like a fool if I passed on the deal. So I said we would take them, but pay his commision in bitcoin. He declined. 

We later looked at options for taking bitcoin payments and eventually did take some. But as Bill noted, it was an accounting headache, and on balance I think all it really did was get us access to some mediocre customers. 

Steely_D

Steely_D Avatar

Location: Biscayne Bay
Gender: Male


Posted: Sep 30, 2018 - 6:39pm



 BillG wrote:


  wrote:
The thing is that I am actively moving off the world of government inflated currencies (FIAT currencies), whilst I would like you to send you a donation, I can't since I am not using debit card, nor Paypal. I believe supporting big players like Visa/Mastercard or dying monsters like Paypal isn't making this world any better and only increases the division between middle-class and the rich. Hence I don't use them, it's ideological.
 
I would be happy to send you a payment in Bitcoins. For you to receive payments in Bitcoin you don't need anything else than a wallet, which can be set up easily and free.
I don't want to post any links here, but I can recommend wallets recommended on the Bitcoin (the one with the .org, not the .com) domain.
 
We're looking into options on that subject. It's a bit more complicated than you might think, due to accounting & tax issues.
 

But Bitcoin isn't a viable currency since it has a volatile value over time; it's a commodity or an investment, like buying gold coins, and only available to the tech-savvy and certainly not the average businessman. (Yes, I know BillG isn't average!)

Right now, its value is only about 1/3 of what it was at its 19K peak. If someone donated to you in BTC back at that peak, the best first move would have been to convert it to fiat so its value remained relatively intact.
BillG

BillG Avatar

Location: Left Coast
Gender: Male


Posted: Sep 30, 2018 - 6:31pm



  wrote:
Hi Radio Paradise,
 
I've been listening you over the few years already. I wasn't in a position to donate, but now I would like you to support you, however I can't do that easily.
 
The thing is that I am actively moving off the world of government inflated currencies (FIAT currencies), whilst I would like you to send you a donation, I can't since I am not using debit card, nor Paypal. I believe supporting big players like Visa/Mastercard or dying monsters like Paypal isn't making this world any better and only increases the division between middle-class and the rich. Hence I don't use them, it's ideological.
 
I would be happy to send you a payment in Bitcoins. For you to receive payments in Bitcoin you don't need anything else than a wallet, which can be set up easily and free.
I don't want to post any links here, but I can recommend wallets recommended on the Bitcoin (the one with the .org, not the .com) domain.
 
How does it sound for you? I am quite sure that there would be plenty of people interested donating over that channel.
 
All the best from Poland !

 
Sorry your post got lost (it wasn't associated with a user account, which messed up our system).

We're looking into options on that subject. It's a bit more complicated than you might think, due to accounting & tax issues.