Bitcoin Donations SHOW YOUR SUPPORT

Xolr · Mar 2, 2014

I just shot this PM to Sythe and Matthew.

Let me know of your support or reasons as to why you wouldn't support!

I see that Sythe has invested some of their time towards bitcoin and other crypocurrencies. Why do they not accept bitcoins as donations [yet]? This is a ever rising, internet popular currency that can do nothing but promote Sythe. I googled it and didn't find any means of donating by bitcoin other than converting it to a means of donations but that seems both costly and time consuming. Since this has not been brought up before (or not that I have found), I'd like to help Sythe and bitcoin myself.

Ideally the most efficient way to do this would be to setup an unique donation address for each user. Once the donation hits that address then the title could be processed automatically. Remember that once a bitcoin transaction has been processed, there is -absolutely- no way to reverse the transaction. What's done is done. That's why bitcoin could be one of the most effective and indisputable methods of donation.

If the donation service can't be processed automatically, I don't mind putting trying to setup a donation service, similar to other users on the board. Unfortunately I wouldn't be able to put any more than 500$ down unless I was making some sort of commission off each donation. If I made commissions then I could probably put forth about 1000$. The deposit can be in any form, although I'd hope for no need for a deposit, furthermore I'd hope for no need to setup a manual deposit service . This is about bitcoin promotion and adding more revenue possibilities for Sythe, not myself.

I have a completely verified coinbase account (all levels: dox, phone, bank accounts, credit statements, credit card numbers, social. Coinbase is US based and regulated) so that can be more assuring. The coins can be converted to cash which I can pay via my own personal paypal (or whatever method desired). The coins will take time to exchange for cash into my bank account, but the payment for to donation from whichever preferred method can be instant. I will wait for the cash to be deposited into my account. Once again, remember, the donations could be processed automatically and it would never touch a users hands other than Sythe administration itself.

I know I seem new at Sythe with my register date, but I've been trolling the boards for a while now and making a few small purchases here and there for my own person sake. Please give me the opportunity to put forth my efforts in supporting two great things, Sythe and bitcoin.

Let me know if you'd like to jump further on the bitcoin bandwagon.

Thanks for reading!

If you'd like to donate to that address I'll convert it to cash via coinbase and give it directly to Sythe. PM me before you donate so I can know who sent the coins and let Sythe know who to give the tag to.

Edit: Was going to match any donations sent that address, but I thought that might not be smart.

Edit 2: There are a few individuals who I think aren't going to "get it". I'll highlight a few key phrases:

Ideally the most efficient way to do this would be to setup an unique donation address for each user. Once the donation hits that address then the title could be processed automatically. Remember that once a bitcoin transaction has been processed, there is -absolutely- no way to reverse the transaction. What's done is done. That's why bitcoin could be one of the most effective and indisputable methods of donation.

Once again, remember, the donations could be processed automatically and it would never touch a users hands other than Sythe administration itself.

This is about bitcoin promotion and adding more revenue possibilities for Sythe, not myself.

Cas · Mar 2, 2014

Tbh I think the main reasoning behind this is that btc prices change every single second and they are viable for drops and rises all day long.
Since there is really no automatic way to see the realtime prices at the time of the donation, I don't see this being implemented soon.

Solid suggestion though, but it is just not ready imho.

SuF · Mar 2, 2014

No one should send you any bitcoins. That's fucking stupid. Sythe should however make an official address.

Xolr · Mar 2, 2014

double post, read below

Xolr · Mar 2, 2014

Cas_M said:
Tbh I think the main reasoning behind this is that btc prices change every single second and they are viable for drops and rises all day long.
Since there is really no automatic way to see the realtime prices at the time of the donation, I don't see this being implemented soon.

Solid suggestion though, but it is just not ready imho.

There are plenty of public API's that release information up to the second where prices are at. www.preev.com does this between all exchange. It's not hard to make your own

SuF said:
No one should send you any bitcoins. That's fucking stupid. Sythe should however make an official address.

I don't think you read the quote.

Ideally the most efficient way to do this would be to setup an unique donation address for each user. Once the donation hits that address then the title could be processed automatically. Remember that once a bitcoin transaction has been processed, there is -absolutely- no way to reverse the transaction. What's done is done. That's why bitcoin could be one of the most effective and indisputable methods of donation.

...

Once again, remember, the donations could be processed automatically and it would never touch a users hands other than Sythe administration itself.

...

This is about bitcoin promotion and adding more revenue possibilities for Sythe, not myself.

SuF · Mar 2, 2014

Xolr said:
There are plenty of public API's that release information up to the second where prices are at. www.preev.com does this between all exchange. It's not hard to make your own

I don't think you read the quote.

I don't think you are very smart. I'm just assuming you're trying to scam people.

Cas · Mar 2, 2014

Xolr said:
There are plenty of public API's that release information up to the second where prices are at. www.preev.com does this between all exchange. It's not hard to make your own

Like discussed on the ts, i was more leaning towards the fact that bitcoins are worth what they are worth at the time of the transfer.
Let's just say the price drops $20 in the time it takes to complete the transaction, the dollar value of the donation would've dropped a considerable amount already.
I'd stick with the official and unofficial donation services if I were Sythe/Matthew. Saves them the trouble of using this kind of service as an alternative to the donation center as is.

Poperi · Mar 2, 2014

Are you trying to set up a donation service using bit coins I'm not 100% clear on this suggestion atm

Xolr · Mar 2, 2014

SuF said:
I don't think you are very smart. I'm just assuming you're trying to scam people.

Well that's your assumption, but you wouldn't have that assumption if you had read the quote.

And to the other people, please just read this:

Ideally the most efficient way to do this would be to setup an unique donation address for each user. Once the donation hits that address then the title could be processed automatically. Remember that once a bitcoin transaction has been processed, there is -absolutely- no way to reverse the transaction. What's done is done. That's why bitcoin could be one of the most effective and indisputable methods of donation.

...

Once again, remember, the donations could be processed automatically and it would never touch a users hands other than Sythe administration itself.

...

This is about bitcoin promotion and adding more revenue possibilities for Sythe, not myself.

I don't think you guys are getting it. Bitcoin is priced at what the moment of transfer is. Even though I had 12 bitcoins back in 2010 worth 80$, that doesn't mean I had 12k 3 months ago. No, I had 80$. If you donate right now 1 bitcoin, you'd have donated 500$(ish). Not 40k in a couple of years, as some people predict bitcoin prices in the future. The bitcoins can be instantly traded for cash at coinbase, Sythe can do this themselves, but I'd advise against that. Please, for the love of [insert your god here], read the entire passage.

Quit being simple minded.

This is about bitcoin promotion and adding more revenue possibilities for Sythe, not myself.

Drew · Mar 2, 2014

I support completely, why not give sythe users more ways to donate.

Darkest Dream · Mar 3, 2014

There isn't really a reason for the site to accept it directly because of the fact that we already have bond system in place. There is no reason for Matthew to go though the hassle.

If you'd like to accept bitcoin and help process donations shoot Matthew a PM, then you'll receive a bond holder minirank and you'll be able to accept bitcoin directly and then credit donations to peoples accounts.

SuF · Mar 3, 2014

Xolr said:
Well that's your assumption, but you wouldn't have that assumption if you had read the quote.

And to the other people, please just read this:

I don't think you guys are getting it. Bitcoin is priced at what the moment of transfer is. Even though I had 12 bitcoins back in 2010 worth 80$, that doesn't mean I had 12k 3 months ago. No, I had 80$. If you donate right now 1 bitcoin, you'd have donated 500$(ish). Not 40k in a couple of years, as some people predict bitcoin prices in the future. The bitcoins can be instantly traded for cash at coinbase, Sythe can do this themselves, but I'd advise against that. Please, for the love of [insert your god here], read the entire passage.

Quit being simple minded.

Lol. And yet you have an address you control in the OP.

Delta Squad · Mar 3, 2014

ontop of what others have stated, exchaging those btc for real cash can be a pain, unless you find a sucker

SuF · Mar 3, 2014

Delta Squad said:
ontop of what others have stated, exchaging those btc for real cash can be a pain, unless you find a sucker

Not really at all...

Delta Squad · Mar 3, 2014

SuF said:
Not really at all...

well i could go into details of how idiototic buying btc would be, i don't think it would be allowed to be discussed in this thread =\

Regardless op should just pm sythe about it and see., also im sure some of the bond holders that handle donations for others accept btc. so this is really a mute point.

Heroine · Mar 3, 2014

You lose me here

The coins can be converted to cash which I can pay via my own personal paypal (or whatever method desired). The coins will take time to exchange for cash into my bank account, but the payment for to donation from whichever preferred method can be instant. I will wait for the cash to be deposited into my account. Once again, remember, the donations could be processed automatically and it would never touch a users hands other than Sythe administration itself

If the bitcoins are being converted into cash and then transferred by paypal why can't the donor just use their own paypal? Assuming they were using bitcoins to donate they'd have the means to donate using other methods, methods that didn't involve an unnecessary step, and by unnecessary step I mean you.