I’ve been an avid user of Priceline’s Name Your Own Price™ for hotels for years. I have 56 hotel stays in the last 2 years (from my history) and before that I refused to register but used Priceline in guest mode. I’m sure I’ve had over 100 hotel stays, mostly with Name Your Own Price™ though a few were Express Deals. I rarely pay full price except when I have to attend a conference and must stay at the conference hotel.
“We did some estimates based on the size of Overstock and the size of Expedia, and came up with our own estimates of what we could expect, and we’re meeting and exceeding those.”
I am writing this letter to ask, nay beg, Priceline to begin accepting Bitcoin. At the very least, you should accept it for the Name Your Own Price™ product. Bitcoin is perfect for that auction because it is irrefutable. Name Your Own Price works because the bidder (me) basically agrees that if you can find me a decent hotel at this price, I will stay there. While I’m sure Priceline does some analysis to reduce the risks of charge backs from credit cards, the risks of fraud and charge backs is still there. Not so with Bitcoin. I could prepay and if I change my mind, tough luck on me.
So price line, what say you?