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bitcoins

Started by Flamingo_Star [1826057] on in Questions & Answers.

9 replies · 117 views · thread synced · 4 days ago · View on torn.com
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Flamingo_Star [1826057]

I was wondering about the new donate via bitcoins options.

As we all know bitcoins are incredibly volatile (violate-edited) and can increase in prices overnight so I was wondering do the staff members update the value of a bit coin every day? Or do you keep the value of a bit coin the same? I think that is unfair as players may be getting donator packs for cheaper or at a higher rate.
1875860 [1875860]

I think you can take the risk with a virtual item. It won't cost anything to create a new donator pack since it does not have to be manufactured or shipped.
1875860 [1875860]

In my opinion, it's only unfair if Bitcoin would be restricted to a select group of players. Anyone can buy a few Bitcoins and trade them immediately for DPs.

I would rather pay the $5 because I don't beleive in Bitcoins. But if you really want DPs dirt cheap, you should consider it.
Flamingo_Star [1826057]

No what I am saying is bitcoins have a value which is incredibly volatile a fixed bitvoin value for x amount of dp would be problematic as q bitvoin could drop a shit load giving the purchaser and ideal time to get huge torn advantages but with so little a cost.

Of course if someone had bought bitcoins previously and it rose in value that's a private investment and nothing to do with torn. Shouldn't the amount of bitcoins needed to purchase a dp be fluid instead of static?
_I_ [575607]

The transaction is done via BitPay, rather than within Torn, so I imagine it's a dynamic exchange rate, much like an international monetary transaction.
SuperBeast [340191]

The poster above me is correct. When you pay with bitcoins torn most likely immediately converts it to a normal currency once they have received payment. This takes out the risk of the price of bitcoins fluctuating.

The price of donator packs are also automatically adjusted via BitPay, Torns bitcoin processor, as the price of bitcoins fluctuate.
The_Totem [1763443]

What does bitcoins and Torn money have in common?
Other than bitcoins could play a small role in RL, they're both virtual.
If that's the case, I'm sticking to spending Torn cash on DP