Re:Expedia Starts Accepting Bitcoin for Hotel Bookings
by malandrew on Wednesday June 11, 2014 @03:21PM
(#7879907)
Makes sense, but I'd love to here more on this. What features of hotels makes them particularly good portals between the black and white worlds.
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Re:Expedia Starts Accepting Bitcoin for Hotel Bookings
by volker48 on Wednesday June 11, 2014 @04:18PM
(#7880194)
Hard to prove how many people actually stayed in the hotel would be my guess. Other businesses like restaurants have inventory so you can't as easily make it look like you made a great deal more money than you actually did.
Re:Expedia Starts Accepting Bitcoin for Hotel Bookings
by seizethecheese on Wednesday June 11, 2014 @06:50PM
(#7880893)
This idea is really seductive. Wouldn't it be kind of hard/traceable to fake bookings though? It seems like strip clubs or some sort of service company would be better.
Re:Expedia Starts Accepting Bitcoin for Hotel Bookings
by netcan on Thursday June 12, 2014 @06:44AM
(#7882686)
Say you run a hotel at 60% occupancy. Then the hotel suddenly goes to 80% occupancy. No additional costs. No inventory paper trail. A small motel with paper bookings could probably launder a lot of money for a silent partner.
10k comes in as bitcoin bookings (2-3 rooms per night). 10k-laundry fee gets paid as dividends to an "investor," "consultant" or anything really. The reservation books are paper.
Many consumer facing service businesses fit the bill, but hotels are a nice big category. It makes sense for them to be accepting internet payments.