Light Reading
Dish Network says will start accepting Bitcoin digital currency for payment later this year.

Dish Says Yes to Bitcoin

Mari Silbey
5/29/2014
100%
0%

Content isn't the only thing going digital in the pay-TV world.

Dish Network LLC (Nasdaq: DISH) has announced that it will start accepting the digital currency Bitcoin sometime this summer. According to Dish, the move makes it the largest company to accept Bitcoin payments and the first pay-TV provider to do so.

Customers will be able to make one-time payments with Bitcoin on the mydish.com website. The US satellite TV provider plans to use Coinbase's Instant Exchange feature to process the transactions. Coinbase turns digital Bitcoins into US dollars.

Bitcoin works like a digital currency, with transactions encrypted and recorded on a system spread out across a distributed computing network. However, for the moment, the US The Internal Revenue Service has decided to treat Bitcoin not as currency, but rather as property. This means that subscribers who buy a Dish subscription with Bitcoin should be aware that if the rate of exchange with the US dollar gives them a discounted service, they will be on the hook with the government for capital gains.

The IRS may yet change how it classifies Bitcoin. However, the current system adds a layer of complexity to Bitcoin transactions. Dish has made it clear that customers will still be able to pay online through more traditional means, including credit card, debit card, and bank account transfer.

— Mari Silbey, special to Light Reading

(10)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View
mhhf1ve
50%
50%
mhhf1ve,
User Rank: Light Sabre
6/4/2014 | 6:52:10 PM
Does Dish say how they'll accept bitcoin payments?
Just wondering if they'll use a 3rd party to handle the bitcoin payment processing, so there's zero risk in accepting bitcoins, and they get to make some headlines still.... 
Ariella
50%
50%
Ariella,
User Rank: Light Sabre
6/3/2014 | 5:59:31 PM
Re: Bitcoin Could Be Funny Money
@kq4ym I really don't beileve there's any danger of that. Accepting bitcoin, for many businesses, including a small store owner in NYC I intereviewed recently, is really just about opening as many options for customer payment as possible. The way most businesses do it, as I said in my previous comment, they never actually hold bitcoins themselves. There are also businesses that offer it to their employees, as in the case of Expensify. It really does make sense when dealing with people around the world who all have to bank their own currency and pay foreign exchange fees (as I've had to do myself for some of my work).  
Kruz
50%
50%
Kruz,
User Rank: Light Sabre
6/3/2014 | 5:58:03 PM
Re: Bitcoin Could Be Funny Money
maybe, but also a change, and youth adopts change easier.
Ariella
50%
50%
Ariella,
User Rank: Light Sabre
6/3/2014 | 5:55:38 PM
Re: Bitcoin Could Be Funny Money
If it operates like a lot of businesses that say they accept bitcoin, it doesn't ever hold the digital currency at all but receives the dollar amount immediately from a clearing agency like coinbase.
Mitch Wagner
50%
50%
Mitch Wagner,
User Rank: Lightning
6/3/2014 | 5:40:49 PM
Re: Bitcoin Could Be Funny Money
Is Bitcoin a youth demographic, or simply geeky?
Kruz
50%
50%
Kruz,
User Rank: Light Sabre
5/30/2014 | 6:56:32 PM
Re: Bitcoin Could Be Funny Money
Great to see Dish trying to appeal to a younger audience. If this goes well, other companies will follow.
Susan Fourtané
50%
50%
Susan Fourtané,
User Rank: Blogger
5/30/2014 | 8:41:34 AM
Re: Bitcoin Could Be Funny Money
I agree, Mitch, it's a very good move. Dish doesn't lose anything and being the first in adopting something new may attract new customers who want to make use of their Bitcoins and are looking for services that accept the cryptocurrency. 

-Susan
kq4ym
50%
50%
kq4ym,
User Rank: Light Sabre
5/30/2014 | 8:35:45 AM
Re: Bitcoin Could Be Funny Money
It does seem a risky deal for Dish, notwithstanding a bit of free initial publicity the association with Bitcoin may just cheapen the Dish brand, especially if it ultimately doesn't work out well for the parties and customers. The IRS captial gains issues certainly muddies the water, although I don't really think the IRS is going to go after Dish customers on capital gain tax issues.
Mitch Wagner
100%
0%
Mitch Wagner,
User Rank: Lightning
5/29/2014 | 2:28:35 PM
Re: Bitcoin Could Be Funny Money
On the contrary, it's a very good move. Dish simply needsto convert Bitcoin to dollars or other another real asset the instant it's received. In other words, Dish just sells the Bitcoin right away. 

Accepting Bitcoin is the 2014 version of building a Second Life presence in 2006-7. It gets the company a nice publicity hit. If it takes off, great; if it flops, it's an inexpensive experient and the company can just shut things down.
Phil_Britt
50%
50%
Phil_Britt,
User Rank: Light Sabre
5/29/2014 | 12:18:16 PM
Bitcoin Could Be Funny Money
This may not be such a good move for Dish. Bitcoin doesn't have enough history behind it to indicate it can be viable long term; nor does it have the underlying backing to make sure it just won't blow up. Even hard or paper currencies can become worthless if mismanaged by the issuer. 
Educational Resources
sponsor supplied content
Educational Resources Archive
Flash Poll
From The Founder
It's clear to me that the communications industry is divided into two types of people, and only one is living in the real world.
LRTV Huawei Video Resource Center
Interview With Rick Talbot, Principal Analyst, Current Analysis

10|31|14   |   2:12   |   (0) comments


At the NFV Open Cloud Forum 2014, Rick Talbot shared his positive feedback about the holistic and open approach that Huawei adopts for SDN and NFV. He also found the open sharing at the event valuable as it features different perspectives from Huawei experts, telecom operators, industry analysts as well as security experts.
LRTV Huawei Video Resource Center
Interview With David Snow, Principal Analyst, Current Analysis

10|31|14   |   2:24   |   (0) comments


David Snow talked about his understanding of Huawei and its SoftCOM strategy at the NFV Open Cloud Forum 2014, saying that Huawei's wide approach combining IT and CT expertise, introducing big data and analytics into solutions and contributing to the OpenStack community particularly resonate with him and make the company stand out in the industry.
LRTV Huawei Video Resource Center
Interview With Roz Roseboro, Senior Analyst, Heavy Reading

10|31|14   |   3:13   |   (0) comments


Roz Roseboro commented on Huawei's data center capabilities and NFV solutions at the NFV Open Cloud Forum 2014, saying that in addition to covering all three key domains of compute, storage and networking, the company also emphasizes the importance of management capabilities and professional services, which are essential in making NFV a reality.
LRTV Huawei Video Resource Center
Interview With Michael Howard, Co-founder & Principal Analyst, Infonetics Research

10|31|14   |   5:25   |   (0) comments


Michael Howard talked about SDN, NFV, and OpenStack adoption at Huawei's NFV Open Cloud Forum 2014. Particularly, he pointed out that Virtual Enterprise CPE is the top NFV use case that operators plan to invest in over 2014 and 2015 to deliver new enterprise services through virtualized functions.
LRTV Huawei Video Resource Center
Interview With Jerry Caron, Senior Vice President, Current Analysis

10|31|14   |   3:11   |   (0) comments


At Huawei's NFV Open Cloud Forum 2014, Jerry Caron from Current Analysis said that orchestration and management are key to realizing SDN and NFV for global carriers, and the approach that Huawei is taking, with its FusionSphere Cloud OS at the core, is in the right direction to address the challenges.
LRTV Documentaries
Broadband Battles

10|31|14   |   01:39   |   (0) comments


This year's Broadband World Forum featured a number of show floor battles focused on access gear, components and coffee.
Jonestown
Mobile Backhaul: Going to the Dark Side?

10|30|14   |   2:26   |   (1) comment


Heavy Reading's Patrick Donegan shares his view on a dark trend that bubbled up at Light Reading's annual backhaul conference in NYC.
LRTV Huawei Video Resource Center
2014 Huawei Electric Power Industry Summit: Interview With CEO of SwitchCom

10|30|14   |   4:13   |   (0) comments


SwitchCom, an IT company based in Angola, recommends a variety of Huawei solutions and hardware to their customers in the energy industry.
LRTV Huawei Video Resource Center
2014 Huawei Electric Power Industry Summit: Interview With Ethiopia's Ministry of Water Irrigation & Energy

10|30|14   |   4:08   |   (0) comments


Gosaye Mengistie of Ethiopia's Ministry of Water Irrigation & Energy discusses the collaboration with Huawei in that country.
LRTV Huawei Video Resource Center
2014 Huawei Electric Power Industry Summit: Interview with Dongfang Electronics Corporation

10|30|14   |   5:46   |   (0) comments


Dongfang Electronics Corporation, headquartered in Chengdu, China, is one of China's largest manufacturers of power generators and contractors of power station projects.
LRTV Huawei Video Resource Center
2014 Huawei Electric Power Industry Summit: Interview with Zimbabwe's Customers

10|30|14   |   3:31   |   (0) comments


Representatives of Zimbabwe's Ministry of Power and Development discuss the energy needs of their country as well as new areas of improvement due to enhanced ICT capabilities.
LRTV Huawei Video Resource Center
2014 Huawei Electric Power Industry Summit: Interview With Colbún Chile

10|30|14   |   4:29   |   (0) comments


In Chile, an aging energy infrastructure was in dire need of a modern update. Claudio Valenzuela of Colbún discusses how Huawei's ICT solutions continue to provide crucial information to improve the grid and how an in-country engineer is a cricial asset.
Upcoming Live Events
November 6, 2014, Santa Clara
November 11, 2014, Atlanta, GA
December 2, 2014, New York City
December 3, 2014, New York City
December 9-10, 2014, Reykjavik, Iceland
February 10, 2015, Atlanta, GA
May 6, 2015, McCormick Convention Center, Chicago, IL
May 30, 2015, The Westin Peachtree, Atlanta, GA
June 9-10, 2015, Chicago, IL
Infographics
WhoIsHostingThis.com presents six of the world's most extreme WiFi hotspots, enabling the most epic selfies you can imagine.
Hot Topics
Microsoft's Skype Embraces WebRTC on IE
Sarah Reedy, Senior Editor, 10/27/2014
FTC Slaps AT&T With Throttling Lawsuit
Sarah Reedy, Senior Editor, 10/28/2014
Wheeler Gets Down With OTT
Mari Silbey, Independent Technology Editor, 10/29/2014
China's MVNOs Hit the Wall
Robert Clark, 10/27/2014
Let's Not Kill SDN & NFV With Silos
Francois Locoh-Donou, Senior VP, Global Products Group, Ciena, 10/28/2014
Like Us on Facebook
Twitter Feed