Gently Bitten

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BitCoin

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BitCoin is a digital cash scheme: which means an electronic payment system whose security ultimately depends not on the bank being able to send people to your house if you try to defraud them, but on establishing cryptographic proof that the buyer really had the money being used to pay and really did send it to the seller.  (Wikipedia has a good explanation of the details, which are rather slick.) In theory this means that the buyer and seller don't have to know anything about each other except some anonymous electronic addresses; and neither has to tell anything to a bank.  You don't have to show anybody any ID to make a bitcoin payment.  In practice, it's actually quite tricky to be completely anonymous with bitcoin-- among other things, everybody's transactions are all public, even if there aren't names attached to them.  But a lot of online credit card processors right now seem to be leery of handling payments for erotic hypnosis-related content, and paying with bitcoins means no payment processor has to approve.

Also there's the geek cred. :)

I had the whole bitcoin payment system automated using this fellow's script, but apparently I'm not allowed to run persistent processes like bitcoind on my server at the current level of hosting I'm paying for. If I start seeing a lot of bitcoin-based business, perhaps I'll spring for the next level of hosting just to make it all smoother. But in the meantime, if you'd like to pay me using bitcoins, send me an email and I'll (happily!) send you a bitcoin address, and then I'll email you the file(s) you want or send you a download link when the payment clears.

There are a number of online bitcoin exchanges; the simplest bitcoin exchange to use will probably be VirWoX, which accepts funds via Paypal or major credit cards (or Linden Dollars, if you are a user of Second Life...)

For the exchange rate between US Dollars and Bitcoins, this website uses hourly quotes of the daily average exchange rate from MtGox, the largest online bitcoin exchange.

 

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Last Updated on Tuesday, 13 August 2013 20:33