BitCoin - Currency Option - Would You Consider It

[EsQ69 1338]

I am sure many of the members on Cerb, regardless of being an Agency, Massage Provider, Service Provider, Dancer, or Hobbyist, we have all heard about BitCoin in our journeys.

 

Well, I was doing some web surfing and happened across this article:

 

http://www.zdnet.com/the-worlds-first-bitcoin-escort-agency-7000021209/

 

At first when I began to hear about BitCoin as a virtual payment option I was a somewhat skeptical and wasn't sure if it would last. But the more I read about it the more I am starting to wonder if this is becoming more of a main stream payment option -

 

What do you think - I am interested in your feedback and comments -

 

Would you consider using or accepting BitCoin as a form of payment -

 

If Yes Why - If No Why Not -

 

All the best and safe journeys and I look forward to your feedback

 

EsQ69

[roamingguy 300291]

I'm comfortable , and more importantly the ladies are comfortable with the payment methods I use already...cash, email money transfer and in one case, one other payment method ;-)

I don't know enough about BitCoin, nor do I guess do most ladies to start using it as a new currency

Call me an old dinosaur, but I'll stick to the proven payment methods

But that's just me

 

RG

[Boomer 33202]

I think this has potential, but I don't think I'm ready to look at opening an account. I think there are a number of competing technologies that are evolving in the electronic payments field, and until we see which become the standard, I'll wait. Also I would like to see more vendors offering this payment option. The last concern is that the value of this currency is quite volatile.

 

I was listening to program that talked about Twitters efforts to develop a payment system in France, a simple Tweet to transfer funds. Also under development are electronic purses on your phone, using the near field link between phones. Definitely today's methods will change.

[Meaghan McLeod 179664]

I don't really know about bit coin, but if anything like PayPal, they will not accept if you are an "adult entertainer" and can freeze your account. So any money is lost.

 

I'd only take cash or etransfer. Once I have the money, no one can charge back or seize.

[piano8950 32577]

I don't really know about bit coin, but if anything like PayPal, they will not accept if you are an "adult entertainer" and can freeze your account. So any money is lost.

 

 

Its nothing like PayPal. Some of the main reasons it has achieved its success so far is due to lack of limitations of use and the anonymity of it.

 

If it became accepted, I would use it in a heartbeat. No records and no dealing with hard cash.

[Phaedrus 209521]

The great advantage of bitcoin is the anonymity and untraceability of it, and the fact that payments can be made remotely. The downside (for now) is the instability of the currency.

 

The thing is, cash is equally anonymous and untraceable, and the remote thing isn't really an issue when we're discussing a service that fundamentally requires the provider and the client to be in the same room. It might be useful for things like deposits, or for services like cam-shows, but I can't see it replacing cash for day-to-day getting your rocks off.

[BluesMan 190]

First I've heard of it but like some I prefer cash or email transfer....I've had issues with Paypay and don't feel comfortable in adding yet one more layer of personal information out there. As new laws come into effect we have to be more diligent in knowing the SPs we pass funds along to. That said, if we know our SP than cash is definitely our safest means.

[Meaghan McLeod 179664]

The terms of service indicate that you cannot use them for illegal purposes including gambling, money laundering etc.

 

With the legality of this industry up in the air, I don't feel it would be wise.

 

I still don't see the benefit of this vs cash. Sorry.

[whatsup 11893]

Easier to go to an ATM and make a withdrawl then go to the provider of your choice and make a deposit :-)

[Phaedrus 209521]

The terms of service indicate that you cannot use them for illegal purposes including gambling, money laundering etc.

 

LOL. Irrespective of the disclaimer, illegal stuff is exactly what they're most useful for. Silk Road (a website dedicated largely to commerce in illegal drugs) had something like $1.2 billion in total revenue before the FBI shut it down.... all in bitcoins. Whatever the legality of this industry in Canada, it's a lot more legal than dealing heroin :)

[luvsyofap 215]

My real concern about bitcoin is the exchange rate. I remember last year when bitcoins spiked in value from about $150 to almost a thousand dollars US each. Last time I checked, 1 bitcoin has dropped to about $500-600 and that they're slowly reaching that limit to how many bitcoins are there in existence. It's a very volatile currency pretty much treated as stocks.

[tanyathetgurl 857]

Although I'm happily in Vancouver, I'm also in the US part of the time, so I'm rather focused on what's happening in Washington DC, and what that seems likely to do to the street value of the US dollar. Bitcoin, arbitrary as it nevertheless is, has a much more objective standard than anything whose value hinges on the credibility of who's in the White House. I'm guessing the Democrats will rack up an insane amount of debt, and when things get bad enough a Republican will inherit the mess and then end up printing money to try to pay it off. At that point the whistling noise you'll hear through the trees along the southern border will be value of the US dollar plummeting in free-fall. In cynical preparation for that, I'm already welcoming bitcoin.

 

Besides, as a free-market girl, I applaud private money in general. Practical expectations aside, I accept bitcoin on principle, sort of like pro-freedom folks who drank alcohol on principle during Prohibition. One bitcoin buys you 12 hours of my focused attention.

 

I also welcome gold. Really. A one-ounce coin of Canadian gold buys you 24 hours of my enthusiastic attention. Perhaps I can bring back the gold standard in this way. If it's going to make a comeback, it has to start somewhere. I can't think of a better place than my bed.

[Warped88 5815]

Nope.

 

It will be a long time before I consider Bitcoin a stable and accepted currency. There are many things that need to happen for a currency to be both of those, and bitcoin ain't there yet.

 

If fact, I completely disregard it as anything important or long lasting. You're better off throwing money at a random penny stock.

[VedaSloan 119179]

Lots of escorts are learning how to use Bitcoin because of the BP fiasco (VISA/MC cutting off payments to BP).

 

I'm not on board yet, only because of the volatility in the cost to purchase.

[backrubman 64800]

I'm not on board yet, only because of the volatility in the cost to purchase.

 

That's the beauty of it, why would you ever have to purchase bitcoins?

 

Just accept it as a form of payment and happily spend what you receive on whatever you like (including exchanging it for cash if you like). When it comes to currency fluctuation, oddly it hasn't done as bad as the Canadian dollar lately :)

[fortunateone 156618]

I wouldn't bother. bp has a perfectly acceptable option using the paysafe card available at any Canada Post and used & purchased exactly like any gift card CC

 

I don't see the point in wallets and secure sites and market rates on any bitcoin thing when bp is the only place it is necessary, and paysafe is just that much more convenient and simple and cost efficient to buy & use. the minimum is like any gift card cc as in 25-30 bucks, or even less. unlike bitcoin where they are saying a minimum of 10x that number to get you started.

 

for one site? no thanks no way.

[backrubman 64800]

...I can see the appeal amongst technophiles but some of us are wondering what the outcome will be. What will happen to banks. Will they just roll over? Who wants a currency that fluctuates from $1200 to $200 in a few years time?

 

I didn't complain when my $0.75 BTCs (which I "mined" myself years ago for very little electricity by keeping my computer on overnight) eventually became worth $1,000 -- I took some profit, of course those days are now over, you need specialized hardware to mine for profit these days.

 

You also need to keep in mind that this fluctuation (as wild as it may seem) didn't happen overnight and didn't take anyone by surprise (we all saw it rising steadily over the course of a sufficiently long time period to react in any way we wanted to), it rarely varies more than a few percentage points before you notice and decide to exit or get some more.

 

People are bitching about our dollar dropping 30% compared to US and that "mostly" just affects US travel and gas prices. Imagine buying CDN staples with a currency that fluctuates 500% over a few years. Why the huge fluctuations? Is it because there is no government or international oversight? Will they continue to fluctuate drastically in the future?

 

I imagine it will continue to fluctuate somewhat like any currency does but with the interest in it ever increasing it could likely be to biased to the upside (increasing in value).

 

Not to mention the illegal usage that governments might want to restrict.

 

Well that's the point isn't it. While a government might want to restrict and control it, they simply will never ever have the means to due to the nature of it. The only people with control over bitcoin are the people that have it. You'd have to find the millions of people that have bitcoins and murder them all, and their families and their friends, something I don't foresee ever happening :)

 

Anyway, I want to know more. Do you have any favorite links on how to get started with bitcoin? Thanks again!

 

There are lots of YouTube videos, some only a few minutes long (like the ones I cited) while others are hours long and go into as much detail as you care to know. Just search for "Bitcoin" on Youtube and you will find any amount of information you might want to know from the bitcoin for dummies type of presentation to in depth analysis way beyond what you need to know.

 

Getting set up to accept bitcoin as payment only takes a couple of seconds. When compared to the difficulty opening up a bank account... well ok, no comparison.

[Guest *Ste***cque**]

LOL. I wasn't thinking murder, just governments banning any legitimate business from using bitcoin currency or face penalties.

 

Would you complain if your bitcoins went from $1000 to $0.75? I know, people would sell before that ever happened! People holding on to Nortel paper was an aberration. Same for blackberry. Same for.... I really don't think people will want their currency to behave like a stock but I could be wrong.

[backrubman 64800]

LOL. I wasn't thinking murder, just governments banning any legitimate business from using bitcoin currency or face penalties.

 

I can't imagine how you would prosecute them. All they need to accept bitcoin payment is a QR code, or a hundred QR codes, each transaction can go to a different address but end up in the same place :) It's very hard to trace the transaction or prove that the transaction occurred (between specific parties if you are not one of them). I seriously doubt it can be controlled like that as there is no central authority with bitcoin, if you have some you can do whatever you like with it whenever you like and no one can stop you.

 

If I want to send conventional money to someone I am limited to $10,000 or FINTRAC gets involved and they tell the CRA and it gets very messy. I can send millions of dollars worth of bitcoin to anyone, anywhere in the world in less than a second, no one can stop me, no one can question the transaction, it's no one's business except between me and the party that receives the payment and no one knows, cares or can find out who we are or why we exchanged some bitcoin.

 

Would you complain if your bitcoins went from $1000 to $0.75? I know, people would sell before that ever happened!

 

Of course I would convert them to something else before that happened, perhaps even Titcoin - The Official Cryptocurrency of the Porn Industry Joking of course - I have very little interest in pornography :)

 

People holding on to Nortel paper was an aberration. Same for blackberry. Same for.... I really don't think people will want their currency to behave like a stock but I could be wrong.

 

Go here: Kitco Bitcoin USD Chart and select the "ALL" chart, you will note that after the initial volatility and run up to over $1000, the price of bitcoin has become quite more stable (almost an ever slowly increasing over time flat line). Currently much more stable and reliable then most any main stream currency you might choose to compare it too so your volatility argument is no longer valid, at least not right now. Likely it will continue to increase in value as interest (and demand for) bitcoin increases but no one can say what the future holds for sure.

 

One more advantage: It simply can't be forged. I wonder how many ladies have gotten burned by someone passing them some counterfeit American cash?