The problem is that the learning curve is steep. Bitcoin transactions are slow, expensive and traceable. Google "silk road wired". Monero and xvg are my favorite private coins. And the volatility is crazy. Someone is going to lose money on the transaction during the transaction. Even the "stable" coins like XRP lost 70% value in a week this year. Originally Posted by hangryhipA provider can cash out within an hour, volatility is not much of a concern.
A provider can cash out within an hour, volatility is not much of a concern.
I assume a number of providers avoid crypto, because 1) it's harder to avoid taxes when they convert the money to cash. Understandable, as paying taxes can be painful. 2) it can take a few days for the cash to arrive in the bank account. The bank account itself can be a stumbling block as it may be difficult for some to obtain one.
As far as difficulty its about the same as paypal (but impossible for the client to charge back). But this profession has a pretty low bar to entry, and i would expect a good number providers wouldnt be able to figure out how to use bitcoin or paypal.
I have a decent list of excellent providers that accept bitcoin if you want. Originally Posted by randell
Bitcoin has a very expensive transaction fee compared to what is out there. There are plenty of online retailers that accept cryptocurrencies too. It's not hard to use but it is very easy to fuck up and lose your money or get scammed and lose your money.Its about 30 cents to send from one address to another, which is fairly cheap compared to credit cards.
When you start throwing around words like ( public key, private key, hardware wallet, paper wallet, online wallet, 2FA, transaction fees, POS, POW, satoshis, TX, forks, GAS, mining,..). It's a lot to take in. It's easy to screw up, it's unregulated and there is no way to recover your money if you lose a private key or type in the wrong address, or aren't aware of the latest hack. And I will take you up on that offer of providers that take BTC! Thanks
This is a good read on bitcoin .. You can trace money back to anyone https://www.wired.com/2015/04/silk-road-1/ Originally Posted by hangryhip
BTC isn't that anonymous. Stick to tried and true cash. Originally Posted by SundarPYes. SOMEWHERE along the way, there's going to be a traceable transaction, unless the lady receives crypto and immediately uses it to pay for something else (who knows, maybe her landlord accepts bitcoin for rent?). But most of the time, she'll want to convert it to US money, and when that happens, there WILL be some activity that may be backtracked. At the very least, that activity is a possible IRS audit in the making.
Seems like years ago, I started a few topics on bitcoin back when it was new and few had heard of it unless they were familiar with the dark web.Why not offer a inconvenience fee for cryptos?
But the process of trying to get into the whole bitcoin game seemed iffy to me if one cannot afford to lose the funds deposited.
And back when, a lot of people lost money trying to use bitcoin. Plus, although one can "cash it out" or whatever, what's wrong with just paying cash?
When a potential new client starts writing me and trying to pay me with anything, and I mean anything (paypal, venmo, etc.), other than cash, it raises red flags to me.
Just pay for the experience in cash. If I know the person, don't mind using a credit card processing system but heck, as someone mentioned above, Cash is King the the demimonde has always functioned on a cash basis.
Bitcoin is a pain in the butt. Just wish that I had invested a $1000+ bucks in it back when. haOriginally Posted by ElisabethWhispers
Seems like years ago, I started a few topics on bitcoin back when it was new and few had heard of it unless they were familiar with the dark web.Had you invested in BTC, some Russian hacker would have stolen it by now, anyway. Then, you would have seen how worthless the blockchain is, since almost none of the thefts ever actually gets traced.
But the process of trying to get into the whole bitcoin game seemed iffy to me if one cannot afford to lose the funds deposited.
And back when, a lot of people lost money trying to use bitcoin. Plus, although one can "cash it out" or whatever, what's wrong with just paying cash?
When a potential new client starts writing me and trying to pay me with anything, and I mean anything (paypal, venmo, etc.), other than cash, it raises red flags to me.
Just pay for the experience in cash. If I know the person, don't mind using a credit card processing system but heck, as someone mentioned above, Cash is King the the demimonde has always functioned on a cash basis.
Bitcoin is a pain in the butt. Just wish that I had invested a $1000+ bucks in it back when. haOriginally Posted by ElisabethWhispers