Encourage the use of Bitcoins.

To ensure the safety of marketplace users I suggest encouraging the use of cryptocurrencies.

Here's why:

Speed and price: You can transfer money anywhere in the world within minutes with negligible fees.

No central authority: Bitcoin is not dependent on any company or government to maintain its value.

You can start accepting bitcoins instantaneously, without setting up merchant accounts, buying credit card processing hardware, etc.

Bitcoins are less traceable than many types of monetary transactions (though not anonymous).

Bitcoins cannot be counterfeited and transactions cannot be reversed.

No transaction blocking or account freezing.

A known amount of inflation: Bitcoin is seen as a store of value because the total number of bitcoins that will ever be created is known in advance and it is impossible to create more than that.

Encouraging the use of Bitcoins, especially in the gold and items section will greatly reduce the amount of chargebacks which worry a lot of sellers. They will be able to offer their service without fear. It's a shame to me that not many people know about cryptocurrencies.

Moral of this thread: create a sticky in the marketplace which encourages the use of Bitcoins, an irreversible payment method.

Yes or no?

 

What do you mean "encourage the use of bitcoins"? Most people don't even know what a bitcoin is let alone go through the trouble of obtaining some. I don't know how this would help. You might as well just start a thread that says "Don't use Paypal" instead. Because there are a lot more forms of cryptocurrency than BTC on these forums. Doesn't just have to be BTC.

 

Most people can't be bothered and that's because most people are uninformed about what Bitcoins exactly is. What we can do with a sticky in the marketplace is educate people about the existence of irreversible payment methods like Bitcoins. It's a first step to a virtual marketplace without chargebacks.

 

http://www.sythe.org/digital-currency-non-game-sales/1141212-bitcoin-why-you-should-accept.html

Bitcoin is de centralized, it loses vaule, gains vaule, its a free market people can choose what they want.

 

Wouldn't it be a better idea to just say "don't use paypal". as far as i know this is by far the most common method of charging back. you could use a lot of things other than BTC to not get chargebacked.

 

Pretty much exactly what I was going to say. Sythe has already made a sticky on why BTC should be used for transactions. Many people now know about it; however, they choose to stick to an "easier" method. It's up to them and you can't really force anyone to do anything.

 

• Bitcoin is encouraged to be explored by the staff/the forums owner, as seen in the relevant threads posted above as well as a handful of guides posted throughout the forums.
• It's a very volatile currency. You can use it to trade, but over the course of a night the value can drop so much that you've actually made a loss.
• Sythe has always promoted this website as a free market (Barring Scams, etc.) While scams and chargebacks are more common with PayPal and other alternatives, it's up to users to choose what they wish to use.
• Removing "easy" payment methods to replace them with Bitcoin would be very difficult and would scare most new traders coming to the market.

Without looking too far ahead, what you've said is not a bad idea, it's just not realistic.

 

http://www.sythe.org/digital-currency-non-game-sales/1141212-bitcoin-why-you-should-accept.html

This sticky has existed for 4+ years and has 50k views, beyond that no further suggestion is necessary. Bitcoin is obviously a stellar form of payment in this kind of market but there are reasons for people not to use it and paypal does remain the most convenient option for most users