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DISH to Accept Bitcoin


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#1 OFFLINE   Stewart Vernon

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Posted 29 May 2014 - 01:08 PM

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


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#2 OFFLINE   Laxguy

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Posted 29 May 2014 - 01:46 PM

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


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#3 OFFLINE   prushing

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Posted 29 May 2014 - 03:14 PM

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

 

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 OFFLINE   Stewart Vernon

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Posted 29 May 2014 - 03:38 PM

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.


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#5 OFFLINE   Laxguy

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Posted 29 May 2014 - 03:45 PM

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

 

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.

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. 


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#6 OFFLINE   Nick

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Posted 29 May 2014 - 04:17 PM

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


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#7 OFFLINE   yosoyellobo

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Posted 29 May 2014 - 04:39 PM

Any chance they would accept Tulips.
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#8 OFFLINE   Laxguy

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Posted 29 May 2014 - 04:41 PM

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. 


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#9 OFFLINE   James Long

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Posted 29 May 2014 - 04:53 PM

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.
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#10 OFFLINE   Stewart Vernon

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Posted 29 May 2014 - 07:36 PM

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.


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#11 OFFLINE   peds48

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Posted 29 May 2014 - 08:51 PM

here is an interesting article

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


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#12 OFFLINE   Laxguy

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Posted 29 May 2014 - 10:35 PM

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.

 

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


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#13 OFFLINE   yosoyellobo

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Posted 30 May 2014 - 09:27 AM

If you are thinking of getting into Bitcoin you should know about what happen Mt Gox.
http://www.theverge....issing-bitcoins

#14 OFFLINE   Paul Secic

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Posted 30 May 2014 - 09:44 AM

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

I agree. I'm staying from it.


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#15 OFFLINE   acostapimps

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Posted 30 May 2014 - 10:46 AM

I agree. I'm staying away from it.

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#16 OFFLINE   djlong

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Posted 31 May 2014 - 10:04 AM

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



#17 OFFLINE   peds48

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Posted 31 May 2014 - 01:50 PM

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

and who said credit cards are guarantee ?


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#18 OFFLINE   yosoyellobo

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Posted 31 May 2014 - 03:20 PM

and who said credit cards are guarantee ?
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I was under the impression that only death and taxes are guarantee.

#19 OFFLINE   SayWhat?

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Posted 31 May 2014 - 03:21 PM

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


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#20 OFFLINE   SayWhat?

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Posted 31 May 2014 - 03:27 PM

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

 

 

 

 

 

 

 

 

 

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