Bitcoin may be the future means to purchase nootropics, smart drugs and other substances. I don’t put this lightly, either. The last few months have been a whirlwind of sorts. Kratom came under the DEA’s crosshairs, but not before over 100,000 people made it loud and clear that they wanted it to remain legal. DEA relented and allowed for a public comment period that closed on December 1st.
As for nootropics and the like, American payment processors’ refusal to work with nootropics vendors have forced the hand of vendors like Powder City to move their nootropics and other supplements to alternate websites, or, in the case of some other vendors, to use overseas payment processors.
I recently affiliated with DuckDose, an online modafinil vendor, in lieu of a pending affiliation and order from the now-defunct ModafinilCat. DuckDose was recommended as an alternative.
So anyway, I had set up my account and only made mention of it in my earlier article about adrafinil. Later, I received an email from DuckDose that I would not be able to receive my commission through PayPal. However, Bitcoin would be possible. I set up a Bitcoin wallet and collected it, piece of cake.
All of this is besides the point, a small detail in the bigger picture. Why are all of these vendors having issues with their payment processors and services like PayPal?
From what I have been able to tell from lurking on Reddit’s /r/Nootropics, the big banks here in the USA seem to view nootropics and the like as a “liability” of sorts. By refusing to allow payment processing for products they deem as “risks” they are indirectly policing the purchases people are able to make, forcing them to use less convenient methods of payment. This is overreaching in a very passive-aggressive way. The consequences of this, however, have caused some vendors to make some major changes.
Powder City, for example, moved all of their categorically “risky” products to sister websites Supplementastic and NootroStop. NootroStop actually accepts Bitcoin!
NootropicsDepot, a similar website, did accept Bitcoin, but no word on whether they still do or not.
Is Bitcoin actually a viable, reliable and private currency?
Yes, provided that you know how to use it.
I think that the number one thing that has stopped many people from making the leap to Bitcoin is that there was a technological barrier to entry. When I was following the bitcoin hype a few years ago, I understood why more people weren’t using it. Fortunately, services such as Circle have made it much, much easier to make purchases with Bitcoin without worrying about wallets, blockchains, and so on, just using a debit card linked to your Circle account.
In a way, I think it is less risky than using overseas payment processors. I have made purchases with overseas processors before with no issues (other than my own bank blocking my order). With Bitcoin however, no one can simply take money from your wallet like they can from your debit card. Unless they have your Bitcoin wallet and your password, an attacker couldn’t make any fraudulent charges you didn’t pay for yourself.
In time, I trust that many vendors will make the leap to reliable and easy-to-use Bitcoin payment processors if the standard processors remain fickle. When I offer services and literature pertaining to Pill Scout, I will definitely look into offering Bitcoin options.