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Dish Begins Accepting BitCoins
by Karl Bode 08:13AM Friday May 30 2014
Dish has announced that the company will now be accepting BitCoins for pay television payment. "We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills," the company insists in a press release. "Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals." The bitcoin payment option will be available for DISH customers choosing to make one-time payments on mydish.com starting in the third quarter, states the company.

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tshirt
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I'm paying all my bills...

...with imaginary money!

Maybe that should be "play money with imaginary value"

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YeeHaw

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Re: I'm paying all my bills...

All money is imaginary. All monetary systems are a game. It's just a matter of who makes the rules.

trparky
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Re: I'm paying all my bills...

The US Dollar, backed by the good faith of the US Government.

Whether or not you have any faith in the US Government is beside the point.
--
Tom
Tom's Tech Blog

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YeeHaw

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Re: I'm paying all my bills...

I have more faith in math than I do in the US government.

tshirt
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True enough, but I know where the US dollar comes from and how it's valued.
bitcoin value changes on a whim and is earned by virtual mining?
This is for people who spend too much time in game fantasy mode.

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YeeHaw

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Re: I'm paying all my bills...

"but I know where the US dollar comes from and how it's valued."

No you don't. That's a ridiculous statement. If you are like 99.9% of people, you have no idea how the Federal Reserve works, you have no clue about monetary policy. You simply earn, and spend. If you worked in Japan, it would be the same, you would earn Yen, you would buy stuff with Yen. If you worked at a place paid BTC, and if you shopped at places like Dish that accept BTC, you would earn, and spend just like you do now. People way over think this thing.
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bn1221

join:2009-04-29
Cortland, NY

Re: I'm paying all my bills...

99.9% ? Here where I live people are not vegetables we are taught to think for ourselves. Most hate ACA, the SEC, and the FDIC and eve the ponzi scheme known as SS. We understand the current inflationary and debasement policy and we hate it.
sandman_1

join:2011-04-23
11111
The same could be said about the dollar. Ever hear of Fractional Reserve Banking? Money made out of thin air by yours truly, bankers. They have been screwing us since 1913 since they wrote that pos Federal Reserve Act at Jekyll Island, GA.

r81984
Fair and Balanced
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Dish does not accept bit coin. They allow you to pay a 3rd party in bit coin and then the 3rd party pays your bill in USD.
No company accepts bitcoins but these 3rd parties who seem to see some kind of value in the fake money.
--
...brought to you by Carl's Jr.

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YeeHaw

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Re: I'm paying all my bills...

If Dish accepted Yen, I suppose you would say "Dish doesn't accept Yen, their bank does, and then pays your bill in USD."

Their bank must be engaged in some kind of Japanees illegal activity!
--
I'm with the Central Government. I'm here to help you. Now bend over, really, I'm helping you, just, just stay still. You'll feel better in a moment.

r81984
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Re: I'm paying all my bills...

No bank accepts bitcoin. No retailer accepts bitcoin at this time.
A 3rd party payment processor takes your bitcoin and sends the retailer US dollars.

If you say that Dish accepts bitcoin then technically every retailer accepts bit coin in that you can find someone to exchange your bitcoin into USD to pay your bill.

The day a retailer actually accepts bitcoin would mean they directly accept the bitcoin from you and later either pay their suppliers in bitcoin or they themselves find a way to trade it for US dollars. Until then no retailer accepts bitcoin.
No retailer is willing to take a risk by holding bitcoins.
--
...brought to you by Carl's Jr.

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Re: I'm paying all my bills...

I'm not arguing with the technicality of your point. I'm just pointing out how ridiculous, and irrelevant it is. One could say that no retailer accepts credit cards as well. They pay a fee to a third party processor to facilitates the transaction of USD from the customer to the retailer. The point is, from the customers standpoint, you can pay your Dish bill with a credit card, or now you can pay it with BTC. You know what you can't pay your Dish bill with? ....Gold, and Federal Reserve Notes(cash). How about that. Which has more real value?

BTW, my business accepts BTC, and I keep them, and spend them.
--
I'm with the Central Government. I'm here to help you. Now bend over, really, I'm helping you, just, just stay still. You'll feel better in a moment.
prairiesky

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1) There are plenty of retailers who accept bitcoin directly. Many are doing 10's of Millions in transactions. They have been for years.

2) The retailers do accept it. But all your argument is is about timelines. I can directly pay for their product using bitcoin, therefore they accept bitcoin. Whether they accept it, then send it to get exchanged, or if it goes directly to the exchanger is largely irrelevant. That middle step doesn't mean anything.

r81984
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Re: I'm paying all my bills...

Their 3rd party payment processor may accept bitcoin, but the retailer only takes USD if in the US.
Saying they accept bitcoin is like saying Paypal accepts bitcoin so everyone that uses paypal accepts bitcoin for payment.
Even sites that claim they accept bitcoin dont even accept it through their normal payment processor. They use another 3rd party just for the bitcoin and all sales are final. You cant get refunds.

See Bitpay: »bitpay.com/
»en.wikipedia.org/wiki/BitPay
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Cheese
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Re: I'm paying all my bills...

What you aren't understanding, is, that the retailer is directly accepting it regardless of third party. In my example, I paid TigerDirect DIRECTLY through the TD website, not a THIRD party or third party website.

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YeeHaw

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said by r81984:

and all sales are final. You cant get refunds.

Not true. You mean you can't forcibly take a refund by crying foul to a third party such as the bank that issued your credit card. If one of my customers was dissatisfied with my service, I would refund the BTC they paid. You can get a refund, just like with cash.
--
I'm with the Central Government. I'm here to help you. Now bend over, really, I'm helping you, just, just stay still. You'll feel better in a moment.

Cheese
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1 edit
I paid for a gpu to tigerdirect directly with btc, they accept them as well.
tmc8080

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Basically true, but the value in U$D exchange rate is evalulated and priced by these 3rd party exchange companies. The fun part is these "rates" can vary wildly and sometimes on a whim, just like stock market derivatives based on how much and who is exchanging (or hoarding) their bitcoins at any given moment. You can even add in the supply & demand for bitcoin mining (hash computing, as I take it..) into the mix. Combine it with solar powered computing, and maybe you could make money over time.. who knows.. The federal government doesn't like the currency b/c it's an easy place to launder monies since transactions have few identifying markers, until it's too late and the exchanges already take place, with no limits by ordinary banks. Did I mention it's difficult to tax this income..?

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Re: I'm paying all my bills...

said by tmc8080:

The federal government doesn't like the currency b/c it's an easy place to launder monies since transactions have few identifying markers,

Don't buy into this lie. This will be the excuse, but it will fail. The block chain is a public ledger of every transaction ever made. Surely, money laundering will occur with bitcoin, just as it does with any other currency. Always has, and always will, but it's no easier to do with bitcoin that any traditional means. Government hate crypto currency, because control over over the monetary system is one of the means by which the government imposes it's will upon the people. Use of crypto currency strips them of this power.

said by tmc8080:

Did I mention it's difficult to tax this income..?

It is perhaps harder to tax than credit card transactions which are reported by the banks, and the capital gains earned through stocks, bonds, and derivatives, again controlled, and reported by the banks. Because of the public nature of the block chain, it's actually easier to tax than the cash society we were as little as 40-50 years ago.
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tmc8080

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Re: I'm paying all my bills...

Actually, I just meant that it is possibly more convenient and anonymous to do transfers of monies with BTC, than say banks who generally don't share information with the US government-- such as those in Switzerland and Cayman Islands. BTW, this is the first year the FED threw down the gauntlet on indicating they might go after people who make a "significant" profit from bitcoin exchanges w/o reporting it as income along with a process for reporting those proceeds on tax returns.

IMO, it's not the fed that's controlling monetary policy in the US, it's more the oil companies and banks (aka the strongest corporations in the USA)... If bitcoin can break that monopoly stronghold-- more power to ya!

OSUGoose

join:2007-12-27
Columbus, OH

Just wait

Till the Treasury Dept hears about it, they will shut it down before dish takes one payment.

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YeeHaw

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Re: Just wait

Overstock.com, and Tigerdirect also accept BTC.

r81984
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Re: Just wait

No they dont. A 3rd party company takes your bitcoin and then pays overstock or tigerdirect US dollars. Dish does the same thing.
They still only accept US dollars.

For some reason this 3rd party company, a payment processor called Coinbase, sees some way to make money off bitcoin so they buy them off people and give them cash to use at some websites.
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openbox9
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Why should it matter as long as it's properly accounted for? And of course taxed.

OSUGoose

join:2007-12-27
Columbus, OH

Re: Just wait

It is illegal to create a separate currency from the US Dollar.
openbox9
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Re: Just wait

Until BTC actually usurps the USD and stops being valued in dollars (or your currency of choice) it's not really a competing currency.

OSUGoose

join:2007-12-27
Columbus, OH

Re: Just wait

FYI:

»blogs.findlaw.com/legally_weird/···ail.html

Yet:

»www.extremetech.com/internet/152···al-money

So if BTC isn't real money, why are companies accepting it as payment?
openbox9
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Re: Just wait

said by Stephanie Rabiner, Esq. :

Under 18 U.S. § 486, it's a criminal offense to make or pass any metal coins "intended for use as current money, whether in the resemblance of coins of the United States or of foreign countries, or of original design."

Difference between minting physical currency and one that only exists in a virtual world?
said by OSUGoose:

So if BTC isn't real money, why are companies accepting it as payment?

Because it's hip? I wonder how long these businesses are holding the BTC? Do they convert them to USD or another government currency?

r81984
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These retail companies dont accept bitcoin. They allow you to pay bitcoin to a 3rd party who then pays the retailer in US dollars.

Coinbase is a 3rd party payment processor that is accepting your bitcoins and paying sites like overstock in USD.
Somehow coinbase makes money from the fake money. I would not be surprised if Coinbase is heavily in illegal activity somewhere.

Dont be fooled by these headlines and really think these retailers accept bitcoin.
They accept coinbase like they can accept paypal. Coinbase is the one that accepts bitcoin.
--
...brought to you by Carl's Jr.

rchandra
Stargate Universe fan
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I see an awful lot of these linked articles pointing to 18 USC sect. 486, which only regulates coinage, and them logically extending that to paper as well. I guess if that were really the case, any store that would come up with, say, Bargain Bucks would also be illegal. I would think that'd render any coupon ever printed as illegal too, because like money, it is exchanged for some good or service. Some of them also say something like "cash value, 1/20th of a cent." (It's pretty unlikely people round up a lot of them to try to redeem them.)
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pkorx8

join:2003-06-19
San Francisco, CA

Functions of bitcoins

two main functions of Bitcoins:
1) the payment/remittance/transfer of "money" function
2) as the holder of value function.

Merchants like dish is taking advantage of #1, because they will be saving overhead on CC service fees, so typically like 1%-4% of each transaction. That adds up when they have so many customers.
The debate is still on for #2. When bitcoin value can fluctuate widely in a short period of time, it can be hard to be a stable holder of value.

Most likely, Dish will not hold bitcoins for long, as with most merchants now. For each transaction, they will likely convert it immediately to USD.