Yesterday’s announcement came as a shock, even to us. WordPress, the 22nd most visited website on the entire interwebs, is now accepting Bitcoin.

15 comments on “Yesterday’s announcement came as a shock, even to us. WordPress, the 22nd most visited website on the entire interwebs, is now accepting Bitcoin.
  1. OlympiaLogger says:

    “…WordPress good Kemo Sabe.
    Me use’um for many kick-ass web sites.
    Bitcoin not easy to chew, but very tastely… Um…”

    — Endorsement by Harry J. Smith — —> http://tiny.cc/kk4vnw

  2. The Dork of Cork says:

    I was wrong about this woman it seems…….

    Some great interveiws starting at 3.90

    https://www.youtube.com/watch?feature=player_embedded&v=Oku60eE4Szw

  3. The Dork of Cork says:

    3.50 even

  4. Jayme says:

    I do not like the idea of a middle man between me and my purchase when these finance companies become a parasitic toll gate and a barrier to my purchase. That is just wrong. Credit Cards (even the Master Card version of bitcoin) and PayPal seem to be extortion rackets, stooges, and financial cops for governments. They work to preserve the status-quo (good or bad). Bitcoin dissolves dependence on the centrally planned model of wealth extraction.

    There are disadvantages with bitcoin. This is a partial list, no doubt.

    http://www-cs-faculty.stanford.edu/~eroberts/cs181/projects/2010-11/DigitalCurrencies/disadvantages/index.html

    In any case, if I’m reading right, bitcoin appears to be a deflationary asset based currency rather than an inflationary debt based currency with artificial scarcity built in. Bitcoin doesn’t seem able to act as a global currency in its current form. However, perhaps there is a similar peer-to-peer method to produce a currency that simply preserves wealth, rather than grows through deflating shortages(?).

    I expect that the deflation rate of bitcoin is mathematically tied to the mining rate and subject to a non-uniform distribution (hoarding) of bitcoins within the bitcoin economy can lead to dumping and devaluation. Bitcoin may fit an Austrian School model of currency but Austrian Economics is just a model and has flaws and can be as much a tyranny as any ideology. There appears to be a rigidity in the supply of bitcoins which introduces scarcity and hardship if it were to be relied upon as a single global currency in a sustainable economy. Gold still seems the most stable (but no less hoardable).

    However, since bitcoin is still considered a medium of exchange with some representation of value, the Open Source nature of WordPress is right in using it to prevent undesired dependencies on centrally planned funding mechanisms that try to censor them.

    It is good to have access to alternative currencies as well as information when the system becomes too entrenched. If governments can’t exploit bitcoin, they will try to outlaw and block it if it becomes a significant threat.

  5. OlympiaLogger says:

    This be’um GOOD MEDICINE, forked-tongue. —>http://tiny.cc/qmkwnw

  6. capt ray says:

    I lke bitcoin,
    But,
    Who are WordPress?!

    Never heard of them… let’s see :)

  7. OlympiaLogger says:

    @Capt.

    http://www.WordPress.com is using BitCoin.
    It’s a commercialized version of
    http://www.WordPress.org , which is the original Open Source site for the free download.

    This is the begining of a site that has 3 days into it. (not counting shooting and editing the video) —> http://tiny.cc/vfqwnw

    It’s a VERY fast framework for site building.

    The company lawyer killed this particular one because he didn’t like the use of the word Brain”Trust”… so it will never be finished under this domain name.

    The guy in the intro video is a friend who did a lot of short term characters in soap operas before he got his Insurance License and started making real money.

    He is, by the way, available for voice overs and spokesman spots.
    (Through me of course. — just leave a note on one of my current posts.)

  8. OlympiaLogger says:

    Post Script:
    WordPress.COM is better than most sites, but compared to WordPress.ORG , it sucks.

  9. OlympiaLogger says:

    Oh yeah !!! … MAXKEISER.COM is done in WordPress !!!

  10. the underfundedmentalist says:

    If non-governed banks can’t exploit bitcoin, they will try to outlaw and block it if it becomes a significant threat.

    QE didn’t come with a govenor.
    Neither did HFT, Gitmo, Citizens United, LIBOR, HLS, NAFTA, the IMF, the bailouts, or the Fed.

    I guess we’ve pulled out all the stops, at least for the top.
    But it sure looks like a free-fall to the bottom.

  11. WordPress.com is just a small commercial “spin off” from WordPress.com. They make their money primarily from an anti spam tool called Akismet (?) and custom templates. It’s no different than Red Hat Linux and Linux. Most companies will not deploy a product (regardless of how good and open source it is) unless they can buy it from a company and get some service. Companies don’t want to be beholding to some genuis geek who worked for them and set them up with lots of great open source solutions only to walk out the door with the passwords and the knowledgebase.

    WordPress.com decision to accept Bitcoin is the global equivalent of McDonald’s accepting credit cards for hamburgers. It wasn’t that long ago you couldn’t use a credit card at McDonald’s because the average transaction size was too low to be efficient for the gateways. Today there’s hardly a purchase that can’t be made with a credit card. The intermediaries are going to be needed even if they are expensive to create on-ramps to Bitcoin. Whether it’s an over the counter boutique at a coin shop or online solutions such as using BitInstant via MoneyGram via CVS via Dwolla via Blockchain.info, Bitcoin still is not ubiquitous and there’s lots of friction due to mere lack of experience. awareness and justifiable fear from mostly goofy failures such as lost wallets and hacked exchanges. If your money is trapped somewhere like Iran and you’re trying to bypass Swift that learning curve flattens out in a hurry.

  12. OlympiaLogger says:

    @Capt.

    If you’re still interested, WordPress.com is useless junk.

    There’s no FTP access to free hosted WordPress.com ‘blogs’.
    Installing plugins, uploading 3rdparty themes or editing their templates can’t be done.
    For instance here: —> http://en.support.wordpress.com/plugins/

    WP.com QUOTE:
    ————————
    Uploading Custom Themes
    Because of the way WordPress.com’s technical infrastructure is designed, we are not able to support uploading of custom WordPress themes on our service.
    ————————
    Uploading Plugins
    Plugins are tools used to extend the functionality of the WordPress platform. However, they are only applicable to self-hosted blogs and web sites using the WordPress.org software. Plugins are not permitted here at WordPress.com for various security reasons.
    ————————

    You see, just the opposite is true. Even if you want to install something as common as dirt like say, Open-Tok, you have to be COMPLETELY BEHOLDEN on WordPress.COM, provided of course they even approve it.

    If you want the almost unlimited flexibility of WordPress.ORG and are still concerned about your tech geek “walking”, then at the beginning have him/she/it create an Admin account for YOU, then go in immediately and reset your password. Also get it in writing that the User Name and Password are always know and available to the site owner or the ‘geek’ pays recovery and court costs. That’s what I’m under and couldn’t care less. It’s not my site.

    If a “BUSINESS”man isn’t capable of a simple step like that, they have no BUSINESS being in BUSINESS… period.

    The real, actual, true bottom line is, WordPress.ORG is for professionals… WordPress.COM is for people who want to build a little site or blog that has the family album or someone who wants a little site to share their favorite recipes, etc. It GREAT for that.

  13. OlympiaLogger says:

    Post Script:

    But there is ONE true thing. WordPress.com has LOTS of traffic and BitCoins exposure will be big, Big, BIG !!!!!

  14. The significance of this cannot be overstated. Blasting the likes of Paypal into irrelevance, and overturning the tables of middleman financial services (that’s gone on from well before biblical times) all suggest that this is the first spring of fresh water from a cracked dam about to collapse.

    The world is close to change.

    “Something wonderful is about to happen”

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