We recently launched our first Bitcoin Payment Processing Integration, partnering with BitPay.
The total process took six months. During this time, we painstakingly worked with various partners and attempted to use several solutions optimizing Bitcoin transactions. Simply put, the task was daunting. After much trial and error, and massive amounts of testing, we finally went live! And what better way to celebrate than to share our experiences with our readers and clients…
This four-part blog series is a behind-the-scenes look at our experiences with the concept, choosing vendors, and making it work with Content Shelf and how our clients do business.
While the concept of accepting a digital currency is very complex, we’ve tried to convey our experience in terms with which our clients can relate.
First Up, Becoming Bitcoin Aware
Bitcoin first hit our radar screens in January 2013, but it was only a blip. Kind of like that rain shower that no one pays attention to on the Doppler because the different shades of the storm aren’t very dark at all (i.e. not concerning). Plus, we had only just recently launched Content Shelf the month prior and had a TON on our plate. Not to mention, we didn’t really have any clients asking about it—at all.
Over the next few months, Bitcoin popped up in various conversations with clients we spoke to. There wasn’t any real demand, but a general awareness was afloat.
In July 2013, Danny Bradbury (@dannybradbury) of CoinDesk contacted us for our input on an article concerning the acceptance of the Bitcoin digital currency by digital content sellers. It was this conversation that really piqued our interest. So, we started some serious research.
Now, Just What is a Bitcoin?
To learn about Bitcoin, we did what most all people do when researching—we “Googled It.” As with any Google search, millions of results returned on our screen. As we clicked through the various results, it felt like when we were kids walking on the carnival boardwalk and all the vendors were fighting to get our attention with catcalls and promises their ride or sugar-filled treat was the best. It was kind of amusing at first, but then became more like the haunted house where by the end we just wanted to be done with it.
The concepts were endless: exchanges, wallets, block chains, mining, fees, Mt. Gox, and on, and on, and on. And as with the millions of results, there were just as many opinions. To be honest, it was absolutely ridiculous trying to digest all of the information we gathered.
But then it happened: we found WeUseCoins.com. It was like an epiphany almost. This site made us change direction and concentrate at a granular level, which is what we wanted to do in the first place.
And thanks to WeUseCoins.com, our research list finally became manageable and we narrowed down our search:
- How Buyers will experience Content Shelf & Bitcoin Payments
- How Sellers will experience Content Shelf & Bitcoin Payments
- How We can make it ALL work within the Content Shelf System
Tune in next week for The Bitcoins are Coming! The Bitcoins are Coming! Part 2.
And to learn the details of how Bitcoin works, we strongly suggest visiting WeUseCoins.com!