Max’s developers have successfully integrated Bit-Pay as a payment option in parallel to PayPal, to accept bitcoins for any project listed on http://piratemyfilm.com | Members can now reserve up to $50 worth of shares in projects.

Posted on February 29, 2012 by maxkeiser| 14 Comments

On their site, using the two options side-by-side, Bit-Pay is FAR superior to PayPal. Max will be promoting bitcoins heavily now that his own site is using them, and using them very well.

The first project to accept bitcoins will be our “Screw Banks” animated video and radio spot.

Here is the project listed on PMF: http://www.piratemyfilm.com/projects/304

Pledge as little as $5 to help get this project produced!

Here’s a little pricing comparison.

For a $5 sale, Paypal takes 30 cents plus 3%, so the producer only gets $4.55.
Using Bit-Pay, the producer gets $4.95. The nickel comes to Bit-Pay.

Technically, the Bit-Pay solution is also superior to PayPal. Our callbacks have been integrated on the PMF back-end to mark payments as paid. PayPal will not give Max this capability. PayPal has the capability, they just will not let Max use it. No wonder in max’s email to me he says “i f******* hate paypal”

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14 Responses to Max’s developers have successfully integrated Bit-Pay as a payment option in parallel to PayPal, to accept bitcoins for any project listed on http://piratemyfilm.com | Members can now reserve up to $50 worth of shares in projects.

  1. Sean | February 29, 2012 at 10:01 am |

    Looking into bit pay myself for 2 gift sites I run online.

  2. J.E | February 29, 2012 at 11:46 am |

    I can not reserv more than 5 shares for the “Screw banks” project. It still says 5 is my limit for that project.

  3. Al Kyder | February 29, 2012 at 12:08 pm |

    I hate F@#$%^&*n paypal

    I have always hated it, and they stole money from me too. about 40$. So I hate em more.

    like Linux. So its natural I would like BTC. BTC 369.42 per oz Gold. BTC holds its value better than any other currency at present.

    Check the charts if you dont believe me.

    To BTC nay sayers, *thpfff*

  4. Dr Catz | February 29, 2012 at 12:48 pm |

    I don’t see how bitpay charging a fee is much better than paypal charging a fee, so OK, the fee is less but the point is to do business without middlemen. It’s perfectly possible to integrate bitcoin payments into the existing site without having to go through a third party with all it’s risks and charges. Happy to see BTC as an option, which I will use from now on but very dissapointed by the current implementation.

  5. kcb000 | February 29, 2012 at 1:41 pm |

    All alternate P2P payment systems that use Classical Encryption are DOOMED.
    The Powers That Be will use Quantum Decryption to break these systems.
    As they have already done with BitCoin
    Solventis Caveat

  6. Nat | February 29, 2012 at 2:42 pm |

    Hey Max, Al…

    I hate F****** PayPal too! Shall we meet up, start a squash league?

    They’ve stolen £250 from me so far in refunding someone who acknowledged receipt of an item (postal delays held it up). They then froze my account and I could no longer contest – the decision to refund was final. The guy with the item was going to return it but then had a change of heart and disappeared.

    I think MF Global looked at the PayPal model and said ‘I’ll have some of that action!’ .

  7. Nat | February 29, 2012 at 2:46 pm |

    @ Dr Catz,

    I don’t know for sure, but I reckon a bit-coin middleman is providing a service for PMF that straight bitcoin doesn’t without setting up certain systems at the PMF server side which you then have to maintain.

  8. Bruce | February 29, 2012 at 3:50 pm |

    I am interested in reducing the need for price-gouging and freedom-crushing PayPal.
    I have to look into this now that someone important is using it.

  9. Nobody | February 29, 2012 at 5:21 pm |

    i came across another new startup which have a unique way and very low fee. the company name is DWOLLA ( http://www.dwolla.com) one can send money to each other with just 25 cents flat fees to the receiver no matter what the amount. it works similar to Paypal where you can link your bank account to DWOLLA whoever it doesnt allow one to pay with credit card. I agree Paypal has become one greedy machine over charging for just been a simple money transfer service.

  10. Clueless | February 29, 2012 at 8:27 pm |

    When I tried to download Bitcoin at home about a half year ago, the download really seemed to screw up my computer speed and security. Is there a good newer download link for using Bitcoin for home computers that won’t ruin my computer speed and performance? I need the simplest and safest download. Thanks.

  11. Al Kyder | February 29, 2012 at 11:39 pm |

    @ Nat *mwah*

    A squash group sounds cool. Lets also remember ebay/paypal are a Frankenstein creation.

  13. proxyoflove | February 29, 2012 at 11:55 pm |

    well this is going to mark my card, aaaanywho, as an epay trader, converting PP into bitcoin would be a brilliant for certain reasons. ‘Coinpal’ has been eradicated by PP, so if anyone hears of a way, please post on PMF. ta!

    As suggested on PMF I opened a wallet with http://www.intersango.com and transferred bank money and bought bits. T’was easy.

    All we need now is Bitbay. Well, me anyway.

  14. Canuckistan | March 1, 2012 at 8:20 pm |

    I’m confused. I thought silver and gold were the only true currencies?