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+--- Thread: Alt Coins for Payments? (/showthread.php?tid=4935794)
Alt Coins for Payments? - Omniscient - Aug 4, 2015
Should I start accepting altcoins like Dash, Litecoin, and Doge for upgrades and stickies?
How many would be interested in this as a payment option?
And please don't suggest I accept Omnicoin. I'm losing a lot of money everyday already by accepting so much of it that I will likely never turn into cash. We have enough current services that I accept OMC for that I'm not likely to expand the options until OMC has more exchanging. So don't suggest it or derail this topic.
* - Stylin - Aug 4, 2015
No you should not do that.
* - Dickface - Aug 4, 2015
I would be interested in that.
I'd also probably get people started with other alt coins instead of just BTC and OMC (which I see the majority of people use)
* - Eternal. - Aug 4, 2015
Yes, Doge and Litecoin at the very least as they are popular.
* - SIM-1166170 - Aug 4, 2015
I wouldn't, if they already have a alt coin they can easily exchange it to BTC
* - King of Clubs - Aug 4, 2015
Nope. I don't think this is a good idea.
* - Balding - Aug 4, 2015
I like this idea for a few reasons.
1. It brings diversity to the payment options.
2. Some people may not have the means to get them exchanged, which in turn will prevent them from getting what they need.
3. I have tons of litecoins :D
* - Hexicidal - Aug 4, 2015
The volatile nature of such coins does not replace the stability of other currencies, if you're personally okay with possibly taking a massive loss due to completely unforeseen circumstances with a completely unregulated market of coins, sure. I doubt that the majority of users on HackForums will provide a large enough audience to cause issues with large bulk sums of coins though. It just depends. If you have the tools is place for the easy exchange of coins to USD, I would say yes. As more methods of payments will hopefully lead to more sales.
Other than that, if you don't have a great way to transfer the cash, I don't highly recommend it.
* - ๖ۣۜCyber - Aug 4, 2015
Dodgecoin and Litecoin would bring in some more sales, any other alt coins and it'll be so little made that it won't be worth the hassle exchanging it.
* - Eternal. - Aug 4, 2015
To those of you saying it's a bad idea, why is it a bad idea?
This is a tech community, why wouldn't it be a good idea to diversify the payment options using already popular means of payment?
* - Hexicidal - Aug 4, 2015
(Aug 4, 2015 01:19 PM)Eternal. Wrote: To those of you saying it's a bad idea, why is it a bad idea?
This is a tech community, why wouldn't it be a good idea to diversify the payment options using already popular means of payment?
There are multiple reasons, including stability, ease of access, means of automation, unforeseen issues in the future, vulnerabilities, and more.
* - KiK - Aug 4, 2015
Nop Omni, i dont see that being necessary.
1.If someone has an Alt coin, It takes just few moments to convert it into BTC.
2. People who Upgrade are usually new to the forum and most probably new to Crypto currencies.
Also i haven't seen much people holding Alt coins
* - Loaded_Lux - Aug 4, 2015
NAh nah nah Omini don't do that you're good with btc
* - Deauthenticate - Aug 4, 2015
Diversity would be good in the currency exchange market. However, so many people are still struggling to accept Bitcoins as an alternative to the regulated real world currencies. I say, it would be best to stick with BTC for now.
* - Tonight - Aug 4, 2015
From a business standpoint, no.
But you have already stated you don't hold your coins so it doesn't make much of a difference if you just exchange them to BTC or USD shortly after getting them.