Results 1 to 12 of 12

Thread: Backpage Accepts Bitcoin as Visa, MasterCard Set Embargos

  1. #1

    Backpage Accepts Bitcoin as Visa, MasterCard Set Embargos

    Backpage says “screw off” to squeamish credit card companies Visa and MasterCard by dropping fees for adult ads and announcing that it is going to accept all digital currencies like Bitcoin, Litecoin, and Dogecoin. Some estimates say Backpage’s acceptance could open up a $100m (£64m) opportunity for Bitcoin, since it is one of the site’s only remaining payment options.

    This decision came as Visa and MasterCard cut off their services to Backpage, citing illegal or brand-damaging activities as the reason. Therefore, users who want to post ads on Backpage must now use Bitcoin, Litecoin, or Dogecoin to pay the posting fees. The decision by the company makes it the first mainstream resource of its type to experiment with a cryptocurrency-only payment model.

    ...

    Backpage has been under pressure from lawmakers and law enforcement for years to end adult-services advertisements. However, Backpage’s profitability has enticed the company to continue operations. The Cook County Sheriff’s Department says that in April alone, Backpage published over 1.4 million adult-services ads in the U.S. and earned roughly $9 million in revenue per month through that channel.

    More...http://insidebitcoins.com/news/backp...embargos/33625



  2. Remove this section of ads by registering.
  3. #2
    This is huge, this move would force many people into the world of bitcoin.

  4. #3
    Quote Originally Posted by juleswin View Post
    This is huge, this move would force many people into the world of bitcoin.
    Yeah, you ain't kidding. They even have a 'how to buy bitcoin' link right on the checkout page. I wish all bitcoin accepting companies would have something like that instead of just having it as an obscure payment option. Furthermore, offering discounts for paying in bitcoin would further things along especially when these companies are benefiting from the ease and efficiency of bitcoin payments and they should share it with their customers. That would snowball demand into bitcoin. Most women or family shoppers do their coupon thing or have the super savers badges on their key chains. BitPay should be demanding that from their merchant clients.

  5. #4
    Quote Originally Posted by FSP-Rebel View Post
    Yeah, you ain't kidding. They even have a 'how to buy bitcoin' link right on the checkout page. I wish all bitcoin accepting companies would have something like that instead of just having it as an obscure payment option. Furthermore, offering discounts for paying in bitcoin would further things along especially when these companies are benefiting from the ease and efficiency of bitcoin payments and they should share it with their customers. That would snowball demand into bitcoin. Most women or family shoppers do their coupon thing or have the super savers badges on their key chains. BitPay should be demanding that from their merchant clients.
    And offering a bitcoin discount comes at no extra cost because there's none of the credit card companies' $#@!ty fees anyway
    A savage barbaric tribal society where thugs parade the streets and illegally assault and murder innocent civilians, yeah that is the alternative to having police. Oh wait, that is the police

    We cannot defend freedom abroad by deserting it at home.
    - Edward R. Murrow

    ...I think we have moral obligations to disobey unjust laws, because non-cooperation with evil is as much as a moral obligation as cooperation with good. - MLK Jr.

    How to trigger a liberal: "I didn't get vaccinated."

  6. #5
    Quote Originally Posted by FSP-Rebel View Post
    Yeah, you ain't kidding. They even have a 'how to buy bitcoin' link right on the checkout page. I wish all bitcoin accepting companies would have something like that instead of just having it as an obscure payment option. Furthermore, offering discounts for paying in bitcoin would further things along especially when these companies are benefiting from the ease and efficiency of bitcoin payments and they should share it with their customers. That would snowball demand into bitcoin. Most women or family shoppers do their coupon thing or have the super savers badges on their key chains. BitPay should be demanding that from their merchant clients.
    As a merchant, credit card payments are a rip off anyway. Not only are you charged almost 3% of the total sales price by the credit card company; but weeks from now you could have your bank account charged back for a sale a customer said was not authorized on their card. I think going btc is the perfect idea for a merchant.

  7. #6
    Quote Originally Posted by Dianne View Post
    As a merchant, credit card payments are a rip off anyway. Not only are you charged almost 3% of the total sales price by the credit card company; but weeks from now you could have your bank account charged back for a sale a customer said was not authorized on their card. I think going btc is the perfect idea for a merchant.
    Not for customers though. Let's say I order something online, pay with bitcoin, and never receive it? What recourse do I have? Only thing keeping them honest is their reputation.
    A savage barbaric tribal society where thugs parade the streets and illegally assault and murder innocent civilians, yeah that is the alternative to having police. Oh wait, that is the police

    We cannot defend freedom abroad by deserting it at home.
    - Edward R. Murrow

    ...I think we have moral obligations to disobey unjust laws, because non-cooperation with evil is as much as a moral obligation as cooperation with good. - MLK Jr.

    How to trigger a liberal: "I didn't get vaccinated."

  8. #7
    Quote Originally Posted by Warrior_of_Freedom View Post
    Not for customers though. Let's say I order something online, pay with bitcoin, and never receive it? What recourse do I have? Only thing keeping them honest is their reputation.
    The quick response would be most places will use one of a handful of easy plug and play bitcoin payment processors like coinbase, bitpay, etc. I assume if some site is taking orders but not shipping they'd get their account closed by the payment handler.

    Of course this won't stop everyone as it's not overly hard to accept BTC, getting it working with some random shopping cart or your own code will take more effort than a typical scammer will do.

    People may just have to do a google search and see if there are bad remarks on a website before doing business with them.
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  9. #8
    Quote Originally Posted by Warrior_of_Freedom View Post
    Not for customers though. Let's say I order something online, pay with bitcoin, and never receive it? What recourse do I have? Only thing keeping them honest is their reputation.
    Actually, I lost 5 btc selling on eBay. I was selling in 0.2 increments to minimize my losses in the event one or two were crooks. Every single person paid immediately with PayPal, every person left me positive feedback. I sent the btc, and within 10 days every sale was a chargeback due to unauthorized use of card. Of course, no way to get my btc back. I'll never have involvement with PayPal again, after telling me OK TO SHIP !!



  10. Remove this section of ads by registering.
  11. #9
    Quote Originally Posted by Dianne View Post
    Actually, I lost 5 btc selling on eBay. I was selling in 0.2 increments to minimize my losses in the event one or two were crooks. Every single person paid immediately with PayPal, every person left me positive feedback. I sent the btc, and within 10 days every sale was a chargeback due to unauthorized use of card. Of course, no way to get my btc back. I'll never have involvement with PayPal again, after telling me OK TO SHIP !!
    All 25 people charged you back? Holy crap.

    LocalBitcoins doesn't require you to meet in person now, does it?

    I've had good luck with the guy running btcrow but that was for selling miners. I'd have them mail you a cashiers check next time.
    https://btcrow.com/


    Last edited by muh_roads; 07-15-2015 at 04:32 PM.

  12. #10
    Quote Originally Posted by muh_roads View Post
    All 25 people charged you back? Holy crap.

    LocalBitcoins doesn't require you to meet in person now, does it?

    I've had good luck with the guy running btcrow but that was for selling miners. I'd have them mail you a cashiers check next time.
    https://btcrow.com/


    Yes, and as soon as they clicked the buy it now button and made immediate payment with PayPal... I contacted each and every one of them via their eBay e mail address to confirm their btc wallet address. They all replied. Even with that evidence PayPal reversed their payments. eBay's response was the buyers accounts were hacked, from paypal info to ebay log in's ... Actually PayPal didn't give a crap. The peeps that did this can hack e mail addresses, but they have to know the eBay password and PayPal password. Regardless, PayPal just took the money back out of my bank account, and my btc were gone. Hard lesson, but I won't be selling on eBay and accepting PayPal ever again.

  13. #11
    Quote Originally Posted by muh_roads View Post
    All 25 people charged you back? Holy crap.

    LocalBitcoins doesn't require you to meet in person now, does it?

    I've had good luck with the guy running btcrow but that was for selling miners. I'd have them mail you a cashiers check next time.
    https://btcrow.com/


    keep in mind that cashier's checks are easily counterfeited as well. I learned that when ordering silver this week. The options were mail in a personal check that takes 5 business days to clear. Cashier's checks and money orders are held just as long due to forgery and counterfeit checks. Once certain they have cleared, order will be shipped.

  14. #12
    Quote Originally Posted by Dianne View Post
    keep in mind that cashier's checks are easily counterfeited as well. I learned that when ordering silver this week. The options were mail in a personal check that takes 5 business days to clear. Cashier's checks and money orders are held just as long due to forgery and counterfeit checks. Once certain they have cleared, order will be shipped.
    Yeah I would definitely not release the funds at btcrow until the check clears.

    People on bitcointalk are better people if you do your due diligence on the user. There is a rating system there. You can set the terms if you use an escrow service like that. Must wait for check to clear, etc...
    Last edited by muh_roads; 07-15-2015 at 10:57 PM.



Similar Threads

  1. Visa, MasterCard sued for blocking donations to WikiLeaks
    By Suzanimal in forum U.S. Political News
    Replies: 7
    Last Post: 12-12-2014, 07:45 PM
  2. MasterCard & Visa start banning VPN providers
    By muh_roads in forum Bitcoin / Cryptocurrencies
    Replies: 5
    Last Post: 07-05-2013, 12:59 PM
  3. Replies: 0
    Last Post: 02-19-2013, 09:08 PM
  4. Visa & MasterCard: KKK Is A-OK, But Wikileaks Is Wicked
    By Kludge in forum U.S. Political News
    Replies: 9
    Last Post: 12-07-2010, 10:27 PM
  5. Replies: 27
    Last Post: 12-07-2010, 04:15 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •