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DISH to Accept Bitcoin

Discussion in 'General DISH™ Discussion' started by Stewart Vernon, May 29, 2014.

  1. Stewart Vernon

    Stewart Vernon Leapin' Lizard Staff Member Super Moderator DBSTalk Club

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    DISH to Accept Bitcoin
    • Bitcoin acceptance begins Q3 for pay-TV subscription service
    • Largest company to-date and first pay-TV provider to accept "cryptocurrency"
    • Coinbase selected as payment processor
    ENGLEWOOD, Colo.--(BUSINESS WIRE)-- DISH today announced that it will become the largest company to accept bitcoin. As the first subscription model pay-TV provider to make this move, DISH will begin accepting bitcoin payments from customers starting in the third quarter. DISH Network L.L.C. is a wholly owned subsidiary of DISH Network Corporation (NASDAQ: DISH).

    "We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills," said Bernie Han, DISH executive vice president and chief operating officer. "Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals."

    DISH has selected Coinbase as the payment processor for bitcoin transactions with customers who choose to pay their bill online with the bitcoin wallet of their choice. DISH will use Coinbase's Instant Exchange™ feature to exchange bitcoin payments to U.S. dollars at the moment of the transaction.

    "We're excited to support DISH and their current and new subscribers for their bitcoin transactions," said Coinbase co-founder Fred Ehrsam. "This is a large step forward in the growing momentum of customers paying companies in bitcoin for things we do every day, like watching premium TV."

    "As a bitcoin payment processor, Coinbase will help DISH make the payment experience easy for our customers and make it easy for DISH to receive immediate credit in dollars, at an attractive cost for DISH," added Han.

    The bitcoin payment option will be available for DISH customers choosing to make one-time payments on mydish.com starting in the third quarter. Customers will still have the option to make any payment online via credit card, debit card or bank account.

    About DISH
    DISH Network Corporation (NASDAQ: DISH), through its subsidiaries, provides approximately 14.097 million pay-TV subscribers, as of March 31, 2014, with the highest quality programming and technology with the most choices at the best value. Subscribers enjoy a high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.

    About Coinbase
    Coinbase is a bitcoin consumer wallet and merchant payment processing platform that, founded in June 2012, now powers 1.3 million consumer wallets and supports 31,000 merchants. Funded with $31 million from top venture investors, Coinbase strives to make it easy to buy and sell bitcoin, securely store bitcoin in the cloud, and accept bitcoin as payment and receive funds in U.S. dollars. Learn more at www.coinbase.com.

    Source: DISH Network Corporation
     
  2. Laxguy

    Laxguy Honi Soit Qui Mal Y Pense.

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    Wow. If I were a stock market player, I'd short DISH. Bitcoin is a sham.
     
  3. prushing

    prushing DIRECTV A-Team

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    I bet Dish is making money in the exchange. They don't take any of the risks, they aren't doing the exchanging of bitcoins to cash, so it really shouldn't matter.
     
  4. Stewart Vernon

    Stewart Vernon Leapin' Lizard Staff Member Super Moderator DBSTalk Club

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    I must admit... I thought this was a pretty weird bit of news myself. I haven't heard anything about Bitcoin that makes me like it to this point. Really seems to have flash-in-the-pan written all over it. This will either be something we look back on at some point as a "genius" move, or it could be a really bad horse to hitch a wagon to.
     
  5. Laxguy

    Laxguy Honi Soit Qui Mal Y Pense.

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    Yeah, I firmly believe it's the last man holding the bag that it'll bite.

    OK. As long as their position in Bitcoins is quickly sloughed off so they have only an hour or a day's exposure, no problem.
     
  6. Nick

    Nick Retired, part-time PITA DBSTalk Gold Club

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    Oh no! I don't have a bitcoin and I don't know to get one. Will Dish cancel me?
     
  7. yosoyellobo

    yosoyellobo Icon

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    Any chance they would accept Tulips.
     
    2 people like this.
  8. Laxguy

    Laxguy Honi Soit Qui Mal Y Pense.

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    Nick-

    They are safely (hah!) encrypted, and locked into an HDD that no one but authorized personnel can access. Well, almost no one. And when such coins are stolen, who knows! There's not much to see....

    Fortunately, Dish and other fine providers still happily accept US bucks, by check, bank transfer, debit, or even cash. Maybe IOUs, or as Mr. Wolf posits, tulips!! You might get in Dutch with the latter.
     
  9. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    Just as long as DISH doesn't start accepting Canadian Dollars or Pesos. In my mind bitcoin is an untraceable currency good for criminals and others who do not want their purchases tracked. (If I understand correctly the tracking ends at "I bought bitcoin" or "I sold bitcoin" without being able to see where the money went after that.)

    Major companies accepting bitcoin helps legitimize the currency. It looks like DISH is doing this in a safe way where they are not playing the bitcoin marketplace.
     
  10. Stewart Vernon

    Stewart Vernon Leapin' Lizard Staff Member Super Moderator DBSTalk Club

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    I have tried (including tonight) searching and reading about Bitcoin... every time I try, I find myself feeling like I'm about to go down the rabbit hole. The more I dig, the deeper it seems to go.
     
  11. peds48

    peds48 DIRECTV A-Team DBSTalk Club

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    here is an interesting article

    www.vox.com/cards/bitcoin/what-is-bitcoin


    Sent from my iPhone using Tapatalk
     
  12. Laxguy

    Laxguy Honi Soit Qui Mal Y Pense.

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    Good luck! Please do report when you've nailed it all down...... :)
     
  13. yosoyellobo

    yosoyellobo Icon

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  14. Paul Secic

    Paul Secic Hall Of Fame

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    I agree. I'm staying from it.
     
  15. acostapimps

    acostapimps Hall Of Famer

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    Fixed
     
  16. djlong

    djlong Hall Of Fame

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    When Bitcoins are guaranteed like insured accounts or credit cards, THEN it will become a real currency. Until then, it's a crapshoot.
     
  17. peds48

    peds48 DIRECTV A-Team DBSTalk Club

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    and who said credit cards are guarantee ?


    Sent from my iPhone using Tapatalk
     
  18. yosoyellobo

    yosoyellobo Icon

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    I was under the impression that only death and taxes are guarantee.
     
  19. SayWhat?

    SayWhat? Know Nothing

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    Rumor has it Chuckie is working out a deal to accept Campbell's Soup can labels.
     
  20. SayWhat?

    SayWhat? Know Nothing

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    I'd sooner accept a purple $18 bill bearing a portrait of Alice Cooper.









    (eighteen, eighteen, eighteen and I like it .... )
     
    1 person likes this.

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