my cash says it's good for all debts, public and private, and yet I've had numerous places refuse to accept it... mostly US or State Government agencies (read: DMV and other licensing bureaus).
nothing pushes me further into the Libertarian camp than the people that issue and regulate currency refuse to accept it in payment.I personally like it, just not every time. It's not quite as exciting or thrilling as fanning yourself with 100's or 20's, while taking a selfie to post on your tumblr for all your sex worker friends to see. But, I still like it for various reasons:
I am much less likely to spend it on bills and savings like I do cash. I use btc to treat myself or my family (tablet, laptop, spa, kids toys, restaurant). I spend it on Gyft cards which is like 200 different stores. I'll admit I have spent some on groceries from Whole Foods and toiletries from CVS, but for the most part I've been good about treating myself to Gyftcards.
I use it to bump my backpage ad as well since many banks won't let you use your debit card on backpage anymore.
When wife sees bank statement, it's a helluva lot easier to explain to her that he was being nerdy and playing with bitcoin than it is to explain an ATM withdrawal of a few hundred.
What say you, providers and hobbyist?
P.S. Providers, if you are interested in starting to accept bitcoin, just say so, and I'll tell you what you need to do to be safe about it.
I would use Bitcoin, but I don't know that much about it. From what I've heard and speculated, it seems like you just have "Cyber-Money" floating somewhere in space that could easily be deleted/stolen in a mouse click.
Also, I've learned that its much better for the married hobbyist to visit Walgreens/Walmart and buy a prepaid Vanilla Visa, rather than do ATM/Cash withdrawals.
Either way, Bitcoin is an interesting concept, and it may be useful to those who are a bit more internet savvy.
Bitcoin needs to be spent right away because it's value fluctuates so much, so there is not much danger of it being stolen if you're not keeping in your btc accounts for long. The only time you keep it is when you are using it to invest in other cryptocurrencies. So, you either spend it on Gyftcards or transfer it to your real life bank account.
Also, I've learned that its much better for the married hobbyist to visit Walgreens/Walmart and buy a prepaid Vanilla Visa, rather than do ATM/Cash withdrawals.
Either way, Bitcoin is an interesting concept, and it may be useful to those who are a bit more internet savvy.
Most people liked 'DickCoins' or 'ButtCoins'.
I prefer Tit Coins.. considering how volatile they've been bouncing around and artificially inflated.
-- Modified on 3/22/2014 1:41:34 AM
if someone actually named their cryptocurrency something like that. I'd trade for it in a heartbeat! That's hilarious.
Also creates paper trail...
Providers need two accounts. Coinbase linked to their real bank account and Blockchain not linked to anything. Take payments with Blockchain, she transfers it to her coinbase and then to her bank account. Or, she can just spend it straight from Blockchain at many online vendors or at Gyft.com. It's all very quick and easy with the phone apps.
IRS considers it gambling winnings. So, she would just need to be careful of the amounts she puts into her bank account, same as when she is depositing cash into her bank account.
YOU need to understand just what you're dealing with here...and YOU have no clue!!!
As for using this as a currency...no fucking way in hell at this point in time.
It's little more than a glorified barter system with just as few constraints. And bartering has already received a taxability status from IRS. If and when Congress can get their arms around the global impact of bitcoin you'll quickly see regulations. If Congress can't get it regulated then you'll see it quickly become a lost currency.
Sure sounds like YOU have an agenda here...perhaps you are one of those getting kickbacks for helping folks get into the bitcoin scam?
IRS considers it gambling winnings. So, she would just need to be careful of the amounts she puts into her bank account, same as when she is depositing cash into her bank account.
It's a wonderful concept especially to those of us with Libertarian leanings, but I am a realist not an ideologue, and like mrfisher pointed out, I have been around long enough to see countless scams, and this one smells to high heaven.
All currencies have risk and that certainly includes the dollar, but currencies of almost all world currencies are backed by SOMETHING, no matter how weak. In the case of the dollar it is back by the full faith and credit of the largest economy in the world. The chances of it dropping to zero are astronomical and if it were to happen there would be no safe haven, not gold, not silver, and certainly not bitcoin.
OTOH bitcoin is simply pulled out of thin air and there is a very real chance that holders of this "currency" could wake up tomorrow and find out that their holdings are completely worthless.
Sorry DA, but as much as I am a free market kind of guy, some things need regulating, and a world wide currency is one thing that should be at the top of that list. I think bitcoin is simply riding the antibank sentiment that is so pervasive today and are simply taking the suckers for a ride, but only time will tell. In the meantime I don't see a single compelling reason to use bitcoin that would make it worth the risk.
Those things give Bitcoins a bad name, unfortunately.
Fundamentally, I feel the concept of crytocurrency is very important and it's here to stay. World needs such type of digital currency going into the future. But like you said it won't be too stable until it becomes regulated.
I use it strictly for what it is though, as a form of transferring money.
In and out quickly. Sometimes my machines mine a few here and there. Never hold too long. Some treat it like an investment though
I don't set up accounts. The person wanting to use bitcoin does. I personally use coinbase because it can transfer to my bank account. And, I use blockchain because they have an iPhone app. If you go sign up there, you don't put in my name to give me credit or anything. I just thought it would be helpful to sex workers and hobbyist. Nothing more.
Now, I do hold two other crytocurrencies that my friend gave me, but other than that I haven't gotten into investing or trading yet. My friend created the other two cryptocurrencies, and he just gave them to me. They are the long term, small growth type. So, they're just sitting there for now.
Fundamentally, I feel the concept of crytocurrency is very important and it's here to stay. World needs such type of digital currency going into the future. But like you said it won't be too stable until it becomes regulated.
I use it strictly for what it is though, as a form of transferring money.
In and out quickly. Sometimes my machines mine a few here and there. Never hold too long. Some treat it like an investment though.
Notice that those of us who actually use it know what it's really for. We purchase stuff online using it and treat it like it's just another form of payment. Nothing more, nothing less.
Those who have NOT used it are so skeptical of it, afraid of it, and think that it's some kind of scam even though many major online retailers are currently accepting them as a legitimate form of payment.
It's just natural to have early adopters versus those who wait til there's more saturation.
Slow adopters will always be skeptical until 90% of their friends use it and they have that assurance.
Kinda like how they got to know facebook, my space, even TER
invest in lead, sulfur, charcoal, and saltpeter... that would be a better bet than gold, silver, and diamonds...
Better to get in those other investments earlier not after they are up already
Currency has a set value. Buttcoins are on a downward trend, and how would you price accordingly? 1 Buttcoin= x hours?
If not Buttcoin, how about Rubles?
Although I wouldn't call bitcoin a currency.
Bitcoin is worth a certain dollar amount lol
When you're paying someone with it, it shows you the amount in dollars that you are transferring to her.
If not Buttcoin, how about Rubles?
The younger crowd have been quicker to adapt to this, as usual. The older crowd are less inclined to accept it, because it sounds new to them, as usual. I see it this way: the world is changing and we will be seeing more of this.
It's also an anonymous way of sending receiving money and I'm guessing it's going to gain some traction in this hobby world too. I'm not sure how it ensures anonymity tho I'm not an expert in it I've only read about it on a limited basis. However, online drug criminals have been using it as their main form of currency instead of cash. That says ALOT about its potential usefulness in the hobby. Already a few ladies are finding out very handy like the op.
In terms of an invitestment, it's been volatile. I've heard people made a lot of money and I've heard people lose money. Just like any other currency trading during volatile times. No different from dollar versus euro or yuan or rubles or wons. Granted, it's jumped up so much over the years is it really a surprise that it would cool off? Anybody who invested in stocks should know about breathers, consolidations, waves, etc.
It works off the principal that fundamentaly a currency is just a unique entity (from a transaction perspective) and by using high encryptions you can make a reasonably reliable piece of currency where each unique transaction can not be duplicated within our lifetime (equivalent to exchange of money in physical world).
-- Modified on 3/22/2014 3:48:02 AM
and in my learned opinion Bitcoin and its kin are no more than high tech Ponzi schemes.
Now excuse me, I need to oil the tappets in my Maxwell.
It's a digital currency. Plain and simple. Acts the same as a currency and trades like one too.
Don't hold on to any if the unknown freaks you out. Problem solved. Let it settle down before owning any as a long term investment. I don't keep around stashes of dollars or yuan or rubles at home.
Neither will I be holding bit coin, at least not til it settles.
However, as a tool to transfer money online anonymously there's no question it is a very good alternative. Probably even better
And those who hate any form of regulation are those gambling on the ponzi scheme aspect of speculation. This may one day be the accepted form of currency...but not in it's present unregulated format.
And a major reason is due to the anonymous feature of this currency....great for illegal businesses...not so great for the rest of the world. And last time I checked most people are "honest". To equate this P4P or other illegal businesses are the majority is simply naive.
Don't hold on to any if the unknown freaks you out. Problem solved. Let it settle down before owning any as a long term investment. I don't keep around stashes of dollars or yuan or rubles at home.
Neither will I be holding bit coin, at least not til it settles.
However, as a tool to transfer money online anonymously there's no question it is a very good alternative. Probably even better.
And AnonymousFun can stay anonymous... LO
And backed by the faith and credit of the United States of America.
Bitcoin is not even in the same universe at this moment in time.
The OP is just a shill for bitcoins. I know I've received invites to get in on their operations...as well as I know of quite a few others who received similar invites. But as I stated earlier until Congress can get their arms around how to regulate (as well as the rest of the world)...it's nothing but a ride on the Titanic.
But to those who want in on this now...have a blast as I am willing to bet (Gambler can set the line) that every return that has bitcoin income (or losses LOL) will be getting scrutinized for terrorist (although guised as ONLY illegal) activities. Maybe you've noticed all those questions on your personal (and Corporate) returns regarding foreign transactions, activity and ownership...this bitcoin issue will be at the top of that list.
That line will be OTB (Off The Board)
Filing a return with bitcoin profits or losses would be like filing a return that starts off with "I don't recognize the right of the Federal Government to tax me" it will put you right to the top of the audit list as you are shouting to the IRS that you want to hide from them. NO thank you, I will take a pass
my cash says it's good for all debts, public and private, and yet I've had numerous places refuse to accept it... mostly US or State Government agencies (read: DMV and other licensing bureaus).
nothing pushes me further into the Libertarian camp than the people that issue and regulate currency refuse to accept it in payment.
Maybe they were all run by the same gal that wouldn't see Tidwell?
I'd be happy however to accept your cash. I would take credit cards as well. Bitcoins...not so much LOL
my cash says it's good for all debts, public and private, and yet I've had numerous places refuse to accept it... mostly US or State Government agencies (read: DMV and other licensing bureaus).
nothing pushes me further into the Libertarian camp than the people that issue and regulate currency refuse to accept it in payment.
but in the case of bitcoins, I won't give anything of value in exchange for them, or at least not until I have converted them to some form of currency that I trust. You know, kind of like waiting for a check to clear.
Me thinks you're living in another country?
... I would be outing myself to anyone that even peripherally knew me.. suffice it to say it was a couple State government offices in a western state in the good old US of A... and while I understand their reasoning (small bureaus that are not normally in the business of collecting fees and have no system in place to accept and audit cash insist on check or credit card) it still strikes me as wrong that a branch of the government will not accept government issued script in payment.
..some may argue that the issuer is the federal government and that the state isn't part of the entity that issued the script, but that hasn't been true since 1865 when state's rights were essentially destroyed.
Operations? Shill? WTF are you talking about? I get bitboin, I spend them on Gyftcards or transfer to my bank account. I like it, so I am telling other sex workers about it. End of story. You are reading way too much into this. I have never even heard of a ponzi scheme or recruiting or whatever in regard to bitcoin. Someone sends me $200 worth of bitcoin, I log onto Gyft.com, buy a gift card worth about $200 and spend it. It's a convenient way to get paid when gentlemen have to be kinda discreet about their cash. It's really not that serious.
Bitcoin is not even in the same universe at this moment in time.
The OP is just a shill for bitcoins. I know I've received invites to get in on their operations...as well as I know of quite a few others who received similar invites. But as I stated earlier until Congress can get their arms around how to regulate (as well as the rest of the world)...it's nothing but a ride on the Titanic.
But to those who want in on this now...have a blast as I am willing to bet (Gambler can set the line) that every return that has bitcoin income (or losses LOL) will be getting scrutinized for terrorist (although guised as ONLY illegal) activities. Maybe you've noticed all those questions on your personal (and Corporate) returns regarding foreign transactions, activity and ownership...this bitcoin issue will be at the top of that list.
Courtney, not sure if I got correct link? Seems out of context. Bitcoin's value is based on the dollar, not boobs? lol Maybe I'm looking at the wrong post?
Here's a blog post about accepting bitcoins for sex work.
http://stinababy30.tumblr.com/post/76068878636/accepting-bitcoin-for-sex-work
I would not trade in it.
I am much less likely to spend it on bills and savings like I do cash. I use btc to treat myself or my family (tablet, laptop, spa, kids toys, restaurant). I spend it on Gyft cards which is like 200 different stores. I'll admit I have spent some on groceries from Whole Foods and toiletries from CVS, but for the most part I've been good about treating myself to Gyftcards.
I use it to bump my backpage ad as well since many banks won't let you use your debit card on backpage anymore.
When wife sees bank statement, it's a helluva lot easier to explain to her that he was being nerdy and playing with bitcoin than it is to explain an ATM withdrawal of a few hundred.
What say you, providers and hobbyist?
P.S. Providers, if you are interested in starting to accept bitcoin, just say so, and I'll tell you what you need to do to be safe about it.
I would rather not leave a paper trail. Cash only.