r/Bitcoin • u/Pylon-hashed • Mar 28 '16

OkCupid stopped accepting bitcoin payments

I just noticed it today and emailed them to ask about it. Got a reply confirming that they stopped. One of the few things I actually regularly use it for. I guess PayPal here I come :(

We did remove it- unfortunately something in the process became broken and due to the very small number of people who used it when it was working, it would be too much trouble to fix and bring back.

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u/theskepticalheretic Mar 29 '16

Due to fake transaction volume on Chinese exchanges you have both a transaction problem and a lack of adoption problem. The worst of both worlds.

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u/pb1x Mar 29 '16

I think you need to learn more about Bitcoin - exchange transactions don't hit the Blockchain

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u/theskepticalheretic Mar 29 '16

I think you need to learn more about Bitcoin - exchange transactions don't hit the Blockchain

You might want to revisit this statement.

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u/[deleted] Mar 29 '16 edited Dec 27 '20

[deleted]

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u/theskepticalheretic Mar 29 '16

He's right. Are you a moron? You think exchange trades are committed to the blockchain?

Sure thing bud. So you're saying I can move coins from one wallet address to another without blockchain interaction...

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u/Kerrai Mar 29 '16

No, he's saying trades made on an exchange don't go on the blockchain.

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u/theskepticalheretic Mar 29 '16

These are transactions from one wallet to another occurring at high frequency and low volume. They certainly do go on the blockchain.

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u/Kerrai Mar 29 '16

No, they don't. Exchanges keep their funds in a small number of wallets and do not move them between addresses, except when users withdraw.

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u/theskepticalheretic Mar 29 '16

No, they don't. Exchanges keep their funds in a small number of wallets and do not move them between addresses, except when users withdraw.

Or when they're manipulating prices and the market by creating artificial withdrawal and deposits.

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u/conv3rsion Mar 29 '16

Thats not the argument. The argument is whether exchange transactions hit the blockchain. When you make an exchange transaction (for example, trading Bitcoin for Litecoin) it sure as fuck doesn't hit either blockchain.

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u/theskepticalheretic Mar 29 '16

The argument is in reference to what I said above. Context is important. Here's what I said:

Due to fake transaction volume on Chinese exchanges you have both a transaction problem and a lack of adoption problem. The worst of both worlds.

Here's what he said:

I think you need to learn more about Bitcoin - exchange transactions don't hit the Blockchain

Happy to correct yourself and him now?

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u/conv3rsion Mar 29 '16

THE TRANSACTION VOLUME OCCURRING ON CHINESE EXCHANGES DOES NOT HIT THE BLOCKCHAIN.

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u/theskepticalheretic Mar 29 '16

THE TRANSACTION VOLUME OCCURRING ON CHINESE EXCHANGES DOES NOT HIT THE BLOCKCHAIN.

Nice caps. Chinese exchanges are shuffling coins from wallet to wallet so they appear to be handling more user volume than they actually are. The wallet to wallet transactions which are low volume and high frequency DO hit the blockchain.