I've posted this before, but... (opportunity for video producers)

[metalgod]

I've posted this idea on here before, and due to some recent developments, I thought it is worth bringing up again.

Bitcoin (www.weusecoins.com) is a convenient and easy way to transfer money almost instantly to anyone anywhere in the world without the fees, chargebacks, and delays that you can expect from credit cards and other methods of payment.

Bit-pay (www.bit-pay.com) is a merchant service that allows any merchant to accept Bitcoins and have them instantly converted to cash that is automatically deposited into the merchant's bank account.

I was simply thinking this is a quick an easy way for video producers to potentially reach a larger audience. Especially in the case of digital downloads, Bitcoins allow users to purchase digital goods without typing in any names or credit card numbers. Ever want to buy a tickling video but are weary about anybody knowing that YOU bought it? Well, Bitcoin solves that problem.

Thoughts?

Edit: Corrected website link from www.bitpay.com to www.bit-pay.com.

 

[Knudus2]

I think I see what you mean but...

1) Payment is only part of the transaction, the delivey system is not simple: it has to work all the time, give the buyer, and ONLY the buyer, instant access to the clip, handle customer service calls, and you have to make sure that the bandwidth doesn't suddenly explode . At the very least it requires a site, which I think a lot of producers dont have - and probably dont want.

2) c4s already has the clip cash card, I haven't used it (but probably will now) which seems to do the same job: only use your credit card once, and then use your account to pay for clips.

 

[metalgod]

By your post, I'm not sure that you understand the fundamentals of what I'm talking about. I'm not sure what you mean when you say that "at the very least it requires a site."

Bitcoins are stored on your computer in a digital wallet. Person A has Bitcoins can send them directly to Person B from their computer without needing to go to any website whatsoever. You don't even need to open your Internet browser. Bit-Pay provides an online merchant with a shopping cart interface. This interface will simply ask the user if they want to use Bitcoins as payment. If they do, they will be shown a Bitcoin address which looks something like 1DMUvxp5QK8AgqPHuY94fVPzbgARZhv5SV (this is actually one of my Bitcoin addresses with a few subtle changes). All Person A needs to do is click "send Bitcoins" on their digital wallet, copy and paste the address into the address field, select how many Bitcoins they want to send (e.g. 2.5), and click send. That's it. No names, no credit card numbers, no transaction fees, no chargebacks, and no fraud.

What Bit-Pay does is automatically convert the Bitcoins that Person A sends to Person B into cash. Once the shopping cart interface is up, there's really nothing else they need to do.

With Bitcoins, I've sent cash to people on the other side of the world at 2 a.m. and they received it instantly, free of charge. It's pretty revolutionary and may ultimately replace things like PayPal or Western Union.

Edit: Also, merchants could expect to earn up to 2% more in profits simply because they don't have to worry about credit card fees. And they never have to worry about someone calling up their credit card company and saying, "Hey, I didn't order this, could you please reverse my transaction?"

 

[Knudus2]

It sounds like a good way to transfer money. But if this is used to buy clips, then the clips would obviously have to be ordered and delivered eg made available for download. I think I get the payment part but how will bitcoin help with the ordering and delivery ?

 

[metalgod]

http://www.staremagazine.com/

^^ This is an example of a porn/fetish like site that accepts Bitcoins as payment. You'll notice there's nothing radically different about their site other than a banner at the top of the screen announcing their acceptance of Bitcoins.

I don't think there will be really any changes to the ordering or the delivery process except that it might be slightly faster with Bitcoins. I would imagine that physical videos would require that you input a shipping address, and I would also imagine that digital videos would be made available for download right after sending payment in Bitcoins just as they would be available to download right after sending payment with a credit card.

The real benefits come from the reduced fees and increased anonymity of payment. I don't know about you, but I have serious reservations about using a credit card to pay for any kind of porn/fetish related product. If you had a choice between giving a video producer your credit card info or a $20 bill for payment, which would you choose? I would choose the cash, and Bitcoin is like digital cash.

Another huge benefit is that video producers could open their videos to a global audience. Bitcoins have global reach and you don't need to worry about any currency conversions. There are Bitcoin users all over the world.

Bitcoin is also growing. It's been featured in Forbes magazine, Wired magazine, the Wall Street Journal, etc. It was also recently featured in an episode of The Good Wife (reaches about 10 million people weekly in the US) called "Bitcoin for Dummies." I'm pretty active in the Bitcoin community and I know that those in the community are itching for more merchants to start accepting it, and they're looking for more and more things to buy with it.

 

[Myriads]

There has been a thread on this topic already, with many replies. I suggest you look there for how folks think on this.

Myriads

 

[Jagermeistered]

Metalgod,

My friend! Myriads is correct with his post.

You are taking Bitcoins, and you are becoming more of a marketeer(a salesman); if you will.

Allow the market to work...