Bitcoin donation goes live

Popper

As most user, I am as well learning about bitcoins. For donations, basically you just need to buy bitcoins for a certain amount of money, e.g. 5 USD. You'll get for that a fraction of a bitcoin. Then transfer that to the address which you see on the donation page. There you'll need to wait until it arrives and then confirm the donation.

So there will be only a small laps of time between the buy and donation here, with probably only a slight change in exchange rate bitcoin/USD. Because you'll credited 1 Euro for 1 USD and that will be doubled vs previous Paypal donations, it should be largely beneficial for you.

As you point out, there is a first time learning new things burden and curve: Select where to buy bitcoins, inscription, learn how to transfer to GayTorrent.ru etc …

At the moment, most of this is only theory for me, too, I must admit. I've got a own bitcoin wallet on my computer now, though that seems not to be necessary for donations to GayTorrent.ru. The next step I'll plan is to buy some mBTC (milli bitcoins)

tis1973

well, meanwhile I got it as well… not all that complicated

It's been a long day and I have been slow... ;D

cammikun

:crazy2: Donations should never be complicated. This is complicated. My ratio is bad. I need to improve it in the next month. I hope you can find another more conventional way to donate. I have donated in the past. Sorry, I will not be using bitcoin.

jimbobaus

While i was happy to donate in the past, due to the fact that my ISP counts uploads hence seeding can at times kill my monthly limit, i always felt sending money to your guys was a good way to fix my ratio while supporting this site.
Sadly, now you have implemented this new system i won't be donating at all. I am not going to go through this whole process just to donate and fix my ratio. I will just see if i can fix my ratio and if my downloads rights get banned, i will simply use this site as a directory, and then seek the torrents i like elsewhere.

Surely there are other payment options around that will let us donate the way we used to?

This new way is not going to garner much support i suspect
I won't donate again as long as this is the only way to do it.
Sorry Guys

azersrt

and for people who live in european union there are bank fee

Popper

Bank fees can be very low, if you choose an operator accepting SEPA wire-transfers. To continue my above story about the bitcoin discovery, I've opened an account at an exchange place in Europe (no I haven't yet tried MT Gox). Inscription is like for Paypal, not more complicated.

I'd like to remember that Paypal takes as well fees for exchanging currency and money transfers.

Joker

bitcoin will be important in the future. we lost our paypal account, this is why this happens
once you are a verified customer at any exchange it is easy like it was before to donate.

the donate page is beta and will soon reveal more helpful informations in how it works

muc

hello,

I'm already using bitcoins for other purpose and it is very easy to handle. As Uwe said in this thread, if you choose an operator who accepts SEPA bank wires, the exchange fee is minimum and the steps are:

1. open an account with the bitcoins exchange operator of your choice, who accepts SEPA
2. transfer the amount of € or other accepted currency for exchange into BTC - of course watch the exchange rate a bit before you deal
3. once you place the order with your BTC operator (choose a limit or take market price) within minutes you have BTC on your account
4. transfer the amount of BTC you want to send to GTru by using the unique "address-code" provided when you open the donation page

in principle it works as easy as internet banking and all BTC operators provide some "user guidelines" or FAQs at their home pages.

my first donation now -with the help of tom- is credited already

Popper

Just another article about bitcoins stumbled on from a link on Man.net

Bitcoin's Future Could Be In Porn
hXXp://www.huffingtonpost.com/2013/04/12/bitcoins-porn_n_3065183.html

That fits to GayTorrent.ru :lolp:

Joker

@muc:

my first donation now -with the help of tom- is credited already

thanks for trying. the last step is, that you visit the donation page.. once the bitcoin arrive a button appears which allows you to transfer the bitcoins into traffic.

gamjock

This is too complicated. I still don't understand how to transfer to my box. Pls bring back the previous system payment.

Popper

Transfer of bitcoins is done by sending them to an "Address". That is a long alphanumerical sequence (~34 signs).

If you like to donate, a "Wallet" isn't needed on your computer (box, PC, Mac, smartphone, …), you can transfer them directly to the address shown on the donation page from the place where you got them. You don't need to transfer all bitcoins at once. Transfers in small fractions is possible. After each transaction, GayTorrent will create a new address for you (previous will continue to work). That is for your privacy.

However, one might prefer to have it's own wallet and to transfer acquired bitcoins into it, instead of leaving them at the exchange place's online wallet. Then you need to install a bitcoin wallet software on your device. I'd prefer on a device with domestic internet access, because the base of bitcoins needs to be synchronised and it got some Giga Bytes (GB) of size. Therefore for use with mobile devices, an online wallet Application seems to be the better choice, as it doesn't need to sync.

To continue my experience story, at the moment I still wait that the Euro found sent by wire transfer yesterday arrives at the exchange site. Should be within 24 hours, but strangely banks computer got a weekend when it gets to credit money

Joker

@Uwe:

If you like to donate, a "Wallet" isn't needed on your computer (box, PC, Mac, smartphone, …), you can transfer them directly to the address shown on the donation page from the place where you got them. You don't need to transfer all bitcoins at once. Transfers in small fractions is possible. After each transaction, GayTorrent will create a new address for you (previous will continue to work). That is for your privacy.

at the moment, the system only generates a new bitcoin address once you transfer your balance into traffic. so some of you guys tested the system sending below 0.01 $ cent … the donation system seems to swollow it without writing a pm.... because it thinks "0.00" = no donation at all .. hahahahah funny those micropayments.

i will add a checkbox in profile soon to direct transfer the incomming BTC into traffic without the need of pressing the 'transfer' button.

btw. your balance (also incomming) is shown below the logo.. maybe the display position will be changed in future but i was somehow in the hustle because the todolist is endless

Popper

@tom:

…
btw. your balance (also incomming) is shown below the logo.. maybe the display position will be changed in future but i was somehow in the hustle because the todolist is endless

:blink:? Which logo?

Joker

our gaytor.rent logo on the right top… direct between logo and the blue bar

Popper

I see nothing there … see the attached picture :afr:

Joker

did you have anything deposited to your bitcoin adress ? guess not.

Popper

No, still waiting to get the money wire transfer to arrive, so I can exchange it for bitcoins … should arrive tomorrow as strangely bank computers don't work the weekend.

Now I understand: That is to avoid the need to stay on the donation page waiting for the bitcoins to arrive :blind:

Update 2013-04-22 11:45 CET:
As expected, the Euro fund wire transfer arrived this Monday and I've placed an order (bid) to exchange it for bitcoins. My bid is 95 EUR / BTC, which was the rate ate MtGox at that moment. The exchange was made in less than 2 minutes.

Update 2013-04-22 13:30 CET:
I've asked to transfer the bitcoins to the address shown on the "Donate" page at 12:22 CET. The fee taken is 0.5% (the low fee of the exchange place was one of the reasons why I chose that particular one). At 12:23 CET, it appears on GayTorrent.ru under the logo that I've donated 0.99502 bitcoins with 0 confirlations. I need to wait for 3 confirmations of the transaction, which happens at around 13:14 CET. Then the "Transfer" button is available on the "Donate" page and I click it at 13:18 CET (after taking pictures for a future Guide). The exchange rate at that moment is 94 EUR / BTC (means 1 Euro less than the moment I bought my bitcoins. However, as GayTorrent.ru takes the USD value ( about 123 USD / BTC) as Euro amount and doubles it, I got a donation of 22.42 Euros credited for 9.5 euros spent to buy bitcoins.

To note that for the donation I didn't need an own bitcoin wallet , just to open an account at an exchange site and transfer money to them.

Remark: Don't wonder why I've no donor's star, for this a moderator's test account with standard Power User status was used.

–--

The complete story:

Checking out different bitcoin sellers conditions, reputations and identifications.
Easy account creation at the exchange place which accepts SEPA (Single Euro Payments Area > hXXp://en.wikipedia.org/wiki/Single_Euro_Payments_Area ) wire transfers on Friday. No verification needed there.
The transfer didn't cost any fee.
Due to the weekend, the wire transfer took long and arrived only today.
Placed an order for bitcoins at market price and got them in less than 2 minutes, no fees.
Transferred the bitcoins to the address shown on the "Donate" page, 0.5% fee. The action is visible on GayTorrent.ru within a minute.
Needed to wait about 1 hour for the confirmations and to be able to click to "Transfer" as donation.
Got credited 2.36 times the amount spent in Euro to buy the bitcoins.

Joker

wow .. thanks uwe for this approach… so people truly can see here: it works

even when it is still "a pain in the ass" compared to just paypal

BUT on pro side: more credits and totally anonymous for both partners

billhiggs

I would gladly donate but i cant figure out the whole bitcoin mess

I have enjoyed thei site but I guess I am done

Good luck