& cplSiteName &

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        ADD A COMMENT
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. 
Light Reading’s Upskill U is a FREE, interactive, online educational resource that delivers must-have education on themes that relate to the overall business transformation taking place in the communications industry.
NEXT COURSE
Wednesday, September 14, 1:00PM EDT
What Is Agile?
Kent J. McDonald, Product Owner, Agile Alliance
UPCOMING COURSE SCHEDULE
Friday, September 16, 1:00PM EDT
How to Implement Agile
Alan Bateman, Director, Agile Transformation
Wednesday, September 21, 1:00PM EDT
What Is DevOps?
Colin Kincaid, CTO, Service Provider, Cisco
Friday, September 23, 1:00PM EDT
How to Implement DevOps
,
in association with:
From The Founder
Light Reading today starts a new voyage as part of a larger Enterprise.
Flash Poll
Live Streaming Video
Charting the CSP's Future
Six different communications service providers join to debate their visions of the future CSP, following a landmark presentation from AT&T on its massive virtualization efforts and a look back on where the telecom industry has been and where it's going from two industry veterans.
Between the CEOs
CEO Chat: UXP's Gemini Waghmare

8|26|16   |     |   (0) comments


Light Reading CEO Steve Saunders and UXP Systems CEO Gemini Waghmare discuss how traditional operators must rise to the challenge of creating a digital identity for themselves if they are to survive in an increasingly OTT world.
LRTV Custom TV
F5 Virtual Network Function Integrations With Partner Orchestration Platform

8|24|16   |   6:38   |   (0) comments


F5's Kishore Patnam, product manager for F5's service provider solutions, discusses why service providers are moving towards virtualization and how his clients are utilizing F5's solutions.
Between the CEOs
CEO Chat: Intel's Alexis Black Bjorlin

8|17|16   |   06:23   |   (0) comments


Join us for an in-depth interview between Steve Saunders of Light Reading and Alexis Black Bjorlin of Intel as they discuss the release of the company's Silicon Photonics platform, its performance, long-term prospects, customer expectations and much more.
Telecom Innovators Video Showcase
Accelerating Telecom Digital Transformation With Nominum DNS

8|1|16   |   12:04   |   (0) comments


Light Reading's Steve Saunders gets an update from Nominum CEO Gary Messiana on how his company is helping carriers on the digital transformation journey.
LRTV Custom TV
Reinventing Operations for a Virtual, Software-Defined World

7|28|16   |   5:23   |   (0) comments


Heavy Reading Senior Analyst Jim Hodges speaks with Accenture's Larry Socher and Matt Anderson about what service providers must do to transform their business to get the benefits of SDN and NFV including: leveraging DevOps, introducing real-time OSS and implementing analytics.
Women in Comms Introduction Videos
Fujitsu Sales Leader Shares Lessons Learned

7|27|16   |   5:12   |   (1) comment


As Fujitsu's only female sales leader, Annie Bogue knows the importance of asking for what you want, being flexible (she's been relocated five times), keeping a meticulous calendar, 'leaning in,' working harder than everyone else around you, being aware and more.
Telecom Innovators Video Showcase
VeEX Test & Measurement Solutions

7|25|16   |   08:57   |   (0) comments


Cyrille Morelle, president and CEO of VeEX Inc., talks test and measurement with Light Reading's Steve Saunders at BCE 2016. This includes innovative products such as VeSion Cloud-Based platform for network monitoring; MTTplus Modular Test platform for Access, Business, Carrier Ethernet, Transport and Core services; and OPX-BOX+ for Fiber Optics.
LRTV Custom TV
VeEX: Live From BCE 2016

7|25|16   |   03:20   |   (0) comments


VeEX's Senior Director of Business Development, Perry Romano, explains how VeEX provides tools to help install, maintain, monitor and manage network infrastructure efficiently and effectively. The portfolio of products on display include the RXT-6000, MTTplus and TX300s.
LRTV Custom TV
Real-Time Telemetry & Analytics for Intelligent SDN Orchestration

7|25|16   |   03:09   |   (0) comments


Packet Design CEO Scott Sherwood discusses how real-time network telemetry and analytics are enabling a new breed of SDN orchestration applications.
From the Founder
The Russo Report: Driving Disruption

7|25|16   |   07:44   |   (2) comments


In the first episode of a four-part series, Light Reading Founder and CEO Steve Saunders and Calix President and CEO Carl Russo drive around town discussing the disruptive mega-changes in the communications industry and where hope lies for service providers to meet the escalating demands of the cloud.
LRTV Custom TV
NetScout: Maximizing Enterprise Cloud for Digital Transformation

7|20|16   |   04:53   |   (0) comments


Light Reading Editor Mitch Wagner talks to NetScout CMO Jim McNiel about maximizing the benefits of enterprise cloud and digital transformation while minimizing potential pitfalls with a proper monitoring and instrumentation strategy.
Women in Comms Introduction Videos
Ciena's VP Offers a Career Crash Course

7|20|16   |   4:14   |   (2) comments


How did Ciena's Vice President of Sales, Angela Finn, carve out her career path? Simple, she tells WiC. She stayed true to her company, customers and principles. She shares her advice for women on how to be authentic and credible, as well as for companies that want to make a real change to their culture and practices.
Upcoming Live Events
September 13-14, 2016, The Curtis Hotel, Denver, CO
November 3, 2016, The Montcalm Marble Arch, London
November 30, 2016, The Westin Times Square, New York City
December 1, 2016, The Westin Times Square, New York, NY
December 6-8, 2016, The Westin Excelsior, Rome
May 16-17, 2017, Austin Convention Center, Austin, TX
All Upcoming Live Events
Infographics
Hot Topics
Cisco Developing 'Monica' Digital Assistant
Mitch Wagner, West Coast Bureau Chief, Light Reading, 8/22/2016
'Most Wanted' Kobi Comes Home
Ray Le Maistre, Editor-in-chief, 8/23/2016
Rocket Fiber Lights Up Detroit With Gigabit
Elizabeth Miller Coyne, Managing Editor, 8/22/2016
Arista Banned From Importing Products – Cisco
Mitch Wagner, West Coast Bureau Chief, Light Reading, 8/23/2016
How the Padres Hit an IoT Home Run
Mitch Wagner, West Coast Bureau Chief, Light Reading, 8/25/2016
Like Us on Facebook
Twitter Feed
BETWEEN THE CEOs - Executive Interviews
Light Reading CEO Steve Saunders and UXP Systems CEO Gemini Waghmare discuss how traditional operators must rise to the challenge of creating a digital identity for themselves if they are to survive in an increasingly OTT world.
Join us for an in-depth interview between Steve Saunders of Light Reading and Alexis Black Bjorlin of Intel as they discuss the release of the company's Silicon Photonics platform, its performance, long-term prospects, customer expectations and much more.
Animals with Phones
Live Digital Audio

Bridging the tech skills gap is a major challenge for service providers and suppliers alike today – and the challenge is two-fold when it comes to increasing the number of women in the comms space. Level 3 Communications has made it a priority to overcome both challenges by implementing several unique programs focused on building the right candidates from within – in addition to filling the funnel by supporting STEM and other education programs. During this radio show, you’ll learn about these programs from Mary Beth McGrath, SVP of Global Talent Management at Level 3, and the best ways to bridge your own skills gap so that you are motivated and equipped for change. Plus you’ll have the chance to ask Mary Beth your questions live on the air.