Why we should all be using crypto currency for adult services
 

Note: I want to preamble this by saying that I'm not some loony that rejects fiat currency: I've just had positive experiences with the financial side of my business when being paid on crypto currencies and want to talk about it.

I'm going to mention a few things that I think are important when determining how good crypto currencies (CC) are when compared to other methods of transfer in adult entertainment for goods and services.

Fees

This is by far the biggest factor.

Ever had PayPal money that you've used to pay someone else in adult entertainment? As someone who receives money from clients via PayPal, let me tell you: it sucks. You get charged a pretty hefty fee for the transfer (around 3-5% in some cases) and when you want to withdraw the money, you're getting slammed hard if it isn't in your native currency, taking an extra 3-4% off the top.

Paxum is slightly better in that transfers are like 30 cents, but it also has the exact same fee issue when switching currencies over. Fees suck, but with crypto currencies, the fees associated with transfers are incredibly low: we're talking less than 0.1% in most cases, and since 1 Bitcoin is the same in Europe, Australia, Canada and Singapore, you're not getting shafted for doing business with people who don't use the same fiat currency as you do.

Quick Setup Time

I have one client that has attempted to get an account through Paxum for the last three months and keeps on having issues with their team. The phone number doesn't work, the support staff take ages to verify documents and I myself had an issue last year where an international bank transfer to my account took 10 weeks to verify. Even getting sent the Paxum card in the mail is frustrating and takes a long time to get sorted.

Bitcoin wallets, on the other hand, have no verification needs. You create one, you have a username and password, it's done. These things are safe too when used correctly: make sure you back up your wallet and there's little risk of outside influences getting access to your money. There are several points of failure that a business like Paxum has that CC doesn't.

Personalised Risk Management

Who here remembers Chris Mallick? I sure do, because that asshole still owes me thousands of dollars that I had in my ePassport account way back in the day. The adult industry has already seen that even industry standard methods of financial transfer aren't all peaches and cream. The great thing about CC is that you are entirely in control of your money. You hold it and you ensure that it's safe.

Additionally, how many people here have had their PayPal accounts banned in the past for adult-related activities? They seem to be a little more lenient over the last few years toward adult enterprises, but there are enough horror stories regarding PayPal to make it a less than attractive option for the storage of money. The same goes for Paxum: I remember reading a thread here just a few days ago about how someone had their account closed with quite a few grand stashed inside.

Conclusion

I'm going to start making CC my primary request for payments of goods and services from now on. If you want reviews from me, I'll say that I want CC. Want some SEO on your escort website? I want CC. I'm okay with Bitcoins, Ether, Monero or whatever else you've got. I'll also take Paxum, PayPal, Western Union, International Wire Transfers and whatever else, but right now, the pros and cons of all methods available to me show that crypto currencies are, by far, the most sought after way of getting paid.

But yeah: anyone else starting to feel like CCs are going to be the future of online business transactions?

fees- it costs to fund/cash out coins...you flat out ignored this...

quick setup time - 0.1% of homo sapiens are savvy about wallets/exchangers/setup etc...people will not send you money unless they are comfortable with the payment method, and if they do not understand it they will not use it...

you may argue that they can learn and do research, but they want to do biz...they do not want to spend hours researching what wallet/what exchanger/what ponzi coin etc...they do not want to spend days waiting for their wallet to fill up and then spend hours waiting for the transaction to clear...also coins give them zero protection...once they send the money they can kiss it goodbye...customers do not like this...

it is not important what you consider convenient and quick, it is important what the customer considers convenient and quick and this is paypal and CC (credit card not crypto currency)


personalized risk management you completely ignore that coins are used 99% for pure speculation and 1% for trade...95% of the volume of all bitcoin trade in the last 2 years went over 4 china exchangers...coins have no real use outside of speculation and online crime...this is not my opinion this is fact...some mainstream website may accept it as a novelty but what I said stands true...

you found some examples of conventional payment processor issues but every system has one...cash can get stolen, paypal can freeze your account, credit cards can be hacked etc...bitcoin is prone to all of the above and more...

customers pay with that THEY want...you either understand this or your wallet is going to be empty...a lot...

disadvantages:

- too volatile
Your $1000 can be worth $500 the next day

- no auto recurring billing

- too complicated for the average Joe


For B2B transaction in an online industry it might somewhat work as most guys are tech savvy (I think this is what you are talking about)

But for B2C customers it's pretty useless still at this moment, especially in an industry like ours where 95% of the transactions is an impulse buy, and most profit comes from auto recurring, 1clicks, etc

He is correct though. People born today will use digital cash. Just lots of things to fix

Well, you won't have much tax liability -- you can better hide the very little money you will make with a cryptocoin FIRST payment emphasis. Most of your analogies are self deceptive and only show how little you understand the Intention Economy like most naive, or been disrupted, players in the adult industry do. Bitcoin is not your savior -- that is the most ridiculous assertion I have ever heard. <out of the frying pan and into the fire (mentality).

There is no current trend toward cryptocoin except the use for speculation by a very small percentage of buyers online -- and the only intention shown that I see is that of the speculators, miners and those that see possible personal benefit. In other words; you are trying to tie a pink ribbon to a bag of shit then saying it won't stink.

https://s26.postimg.org/by7k25zyh/ne...lesfunnel1.jpg

Awareness=fail
Interest=fail
Consideration=fail
Intent=fail
NO FUCKING SALE

That said;

I think a porn payment wallet is a much better idea -- that is what I am planing to do next year (hopefully). There are hoops and hurdles to this but almost everyone of consequence has access to online banking and could use the wallet.

200 $ or € in your porn wallet is more secure than using a credit card; and should be, if done right -- exempt for most AML and KYC purposes for small amounts held (most consumers).

Stream of consciousness isn't the best literary device for communication via forums. This quote is probably the least understandable piece of text I've read this year.

Yes, I'm absolutely of the opinion that right now, Crypto is best for B2B and does have major issues for B2C.

The volatility can be somewhat absolved by instantly selling on a local exchange. For most major countries, the fee for that service is less than 1%.

It should always be an option for the adult business. But not a complete switch. The buyer determines the currency.

Well, Tough Shit.

You spew simpleton verbal diarrhea -- paenitet te non capio

The issue here is that Bitcoin transaction fees are based on transaction complexity (and more recently, limited transaction slots) which is not necessarily related to the value you're sending.

IOW, it may cost the same in fees to send 1 BTC as it does to send 0.01 BTC... and in some cases it may cost [i]more to send the smaller amount. This makes sense to ensure efficient use of the network and blockchain, but seems completely illogical to someone who's not familiar with the internals of Bitcoin (ie: most of the world!). To make things even more confusing, the fee necessary to incorporate your transaction into a block will vary based on what miners choose to accept. It costs a lot more today to send funds than it did 12 or 24 months ago. :2 cents:

A lot of you are addressing issues that are confined to Bitcoin itself, but there are several others that have already addressed some of the disadvantages some have mentioned here.

The ethereum blockchain for instance allows for smart contracts -- this enables recurring billing based on a smart contract / decentralized app (dapps)

The IOTA Tangle (IOT, currently #8 at coinmarketcap.com) is not based on the blockchain at all. Instead, it uses its own distributed ledger via a DAG (Tangle), Direct Acyclic Graph, which allows for:

1. Feeless transactions
2. No mining (Each transaction verifies 2 other transactions, the peers do the PoW)
3. Quantum proof
4. Scalability. It gets faster as the network grows

As someone who's about to be employed in this space, I guaran-fucking-tee you that:

• Cryptocurrencies are only going to grow in popularity
• They're going to improve
• The blockchain and other ledgers (like the Tangle) are going to transform just about every industry

What I'm wondering is when someone will build the first decentralized TGP :1orglaugh

I agree with OP. Of course, the usual suspects get their panties in a bunch at the thought of crypto. I mean the GFY Luddites that somehow got tricked into using computers for porn. My wife is a physician that, when she lived in Moscow, sometimes got paid for her services with a chicken or vegetables.

Now Fiat money is a currency without intrinsic value established as money by a government regulation or law. The Luddites here love Fiat money. Until the government fails or inflation gets out of control. The fear of crypto is decentralization and the loss of control by the regulators.

The popularity of crypto is determined by those who purchase,use or hold, in other words, the people, not the institutions. Eventually, Bitcoin, will stabilize, but now, for instance, big players on Wall Street can manipulate crypto prices the same way they do stock prices. By creating distraction they cause the price to drop and they swoop in to purchase. A time honored way of fucking around that's been going on for centuries now.

Doesn't change a thing. Bitcoin and other coins just keep on growing in popularity. The naysayers are a smaller and smaller group of individuals that will eventually have to accept the inevitable. Too many people see the possibilities of crypto for it to die out.

Welcome to the future, here's a chicken for you.

The ultimate fiat money IS Bitcoin -- backed by NOTHING.

By no nations' assets or recoverable private assets.

That it total bullshit -- complete foolishness.

A nations assets are no guarantee, just ask Venezuelans. You don't have an argument.

Here's a link for you to educate yourself better.

Bitcoin is fiat money, too
What Charles Kindleberger has to say about cryptocurrencies

until it becomes as easy to use crypto as it is to use cash or credit card, the masses will continue to ignore it.

Not true. This is income, and taxable like all your other income. Sure you can hide it but if you get caught, prepare to pay and pay and pay.

Plus, your models or other suppliers may not accept Crypto Currency so you will have to go through the headache of converting it into USD.

Don't think that the government is not paying attention either. If you decide to drop some BTC into your personal or business bank account, you will have to explain it at your next audit.

CC's great and yes everyone should be looking for ways to use it, but know the risks. The value changes every minute. Integration can be tricky, etc.

You also have to have the market. How many of your users would rather pay in CC for your services to make integration and management worth it?

Good thread btw.

Ruff I don't mine or trade in Bitcoin and never will. I don't care what Bitcoins value is. Venezuela is another straw man argument. That country has had a third world shit hole economy for 100 years.

Ruff, do you actually believe that bullshit -- I'd don't think you are that ignorant and obstinate? Or, are just hoping we will buy your bag-of-shit of the day?

Disclaimer: I have no long or short interest in any crypocurrency and just like trolling these scammers.

Mark; How much money have you cam customers paid you in bitcoin this month?

More or less than 1 bitcoin ($4,500+-)?

There's about 500 reasons that demonstrate how BTC is superior to USD/other state controlled monies. I'll list a few if you want.

^^ don't waste your fucking time -- I would rather buy a fucking goat

Same as the USD, it is backed up by the people.

crucifissio hit it right on the head.
My exchange, gatecoin, just had their bank accounts closed. This is a fully regulated exchange, backed by a government body, and still they got shut.

Just look at Wannacry - the perps only made $100k by expert estimates, simply because most people don't have bitcoins, and go through the hoops to acquire them.

Where do you live?

The US dollar is backed by trillions in real estate and personal property both government and privately owned -- that is why the USD and the Euro are world recognized reserve currencies.

Sorry you cannot tell the difference between a speculative instrument and hard currency -- but that is your problem.

No sale sukka

I don't like being called a scammer for one thing. But you're right on one point. You are just a troll and your opinion is worthless. Instead of a goat, have a chicken.

So we agree -- there is no argument.
Quit selling this crap as a transaction currency fallacy.

The fact that the USD has been weakening for decades, combined with a variety of countries that are threatening to abandon the petrodollar should be proof enough that it's not the bees knees. It's not a true scarce resource, as the feds print more and more of it, further devaluing it. What did $5 purchase in the 60's vs what it purchases today? A hell of a lot more.

Distributed ledger technologies that are secure, immutable and decentralized isn't just the way forward for currencies, but for just about every other industry out there.

The only inhibitor to its progress is time. Give it time, the more popular it becomes, the more people will trust it over the antiquated state-controlled fiat funny money.

I'm looking at adding Bitpay to my sites. Anybody have experience with this?

Don't worry fratres there will be a currency, it will just be very different from BTC.

Rhetoric ... Truth: no one is bragging about their real success using Bitcoin as a transactional currency -- cut the bullshit already.

If there becomes in the future a consumer micropayment digital currency, that was easy to use (without a lot of surreptitious bullshit), issued by the World Bank (or other recognized NGO) for international transactions, outside of VISA-Net -- I think that would be great.

How is a porn wallet not cryptocurrency?

We would be better off selling our own brand credit cards.
Earn frequent miles of porn.

not the same at all...you see at any time the US gov can say "we are shutting down exchangers for bitcoin because we are having a bad hair day" and that is the end of bitcoin...

on the other hand they will never say "We are shutting down the USD"...

a chain is only as strong as it weakest link and this weakest link are exchangers...there is nothing more fragile than an exchanger...


also:

"oh I will use my credit card to buy bitcoin so that I can pay the credit card fees AND the exchanger fees and then wait for hours for my account to get funded and then for hours for the transaction to get approved, instead of just paying the shit with my credit card and finishing the job right away...so convenient!" said no customer ever :1orglaugh:1orglaugh:1orglaugh

gold fever prevents people from seeing clearly...they make up shit why bitcoin is better than anything else and how we should all take the extra steps and pay the extra fees to "save money and time" :1orglaugh:1orglaugh:1orglaugh

Because this envisioned wallet will intake its funds from nationally chartered banks in recognized national currencies. Credit card associations need not apply :2 cents:



This will only be available in a closed loop within my own company owned or sponsored selling websites (think *Pornomall* or associate cam girls (or studios)). Getting a MTA or MTS license (charter) from a government is something I don't want to do. The world does not need another money transfer agent -- epassporte :1orglaugh

Barry, just curious, what is your incentive in posting in these threads? EVERY thread about crypto you haven't missed one with your garbage.

as of now
Barry 10 posts
everyone else, 3, 3, 3, 2 2, 1 etc

Do you have some hidden agenda here?

I have no hidden interest.
I argue with Jehova's Witnesses for sport too ;)
BTC/USD / FOREX daily reported volume
660130845/5100000000000
.00012943742058823529

.00012943742058823529*100
.01294374205882352900

Something with 0.013% market saturation?
Good luck to the winners ...

What is YOUR motivation?

BTC exchangers in a nutshell:

https://img-9gag-fun.9cache.com/photo/aP9eYzK_700b.jpg

I want to put some money on this..Is it clever or no?

haters in a nutshell

http://cdn2.hubspot.net/hubfs/160466...d_the_boat.jpg

so the crypto has big growing potential and not saturated than shitty webcam business. it's cool

Remember folks we all need to add this completely unnecessary and complicated step in to our b2b payments to make them slow as fuck...customers love it! Love it!

It's going to be like 1999!

Some statements are so ignorant they deserve no response.

it's to complicating for the average joe

I'm prepared to wait 20 minutes for a payment to confirm if it means I don't have to pay $160 US dollars in fees just to receive my money.

https://i.imgur.com/62tQO9Z.png

You still have to cash out that money...how much does it cost to cash out that sum providing you find the customers willing to jump the extra hoops and pay the added fees in the first place...you are just focusing on a part of the transaction that is free...

My exchange, btc markets, allows me to trade BTC into AUD of that size for 0.7% (look here).

Note that this also bypasses PayPal's currency conversion fees (it charges a premium over the market rate).

For example, PayPal's current conversion displays that in order for me to reach 1,000 GBP, I need to pay $1,788.69 AUD. XE.com shows that the current market rate for 1,000 GBP is actually $1704.26 AUD. That means that the PayPal transfer above would have cost me an additional 84 dollars per every 1,000 GBP I withdraw (or thereabouts, I'm doing a reverse measurement for ease.)

https://i.imgur.com/DxU0Y69.png

With over 3,000 GBP withdrawn, I would have paid an additional $252 AUD in exchange fees for that transfer. That's $190 USD at today's market rates.

So yeah, that PayPal withdrawal cost me a total of $350 USD. Getting Bitcoin and selling it on a local market would have cost me 0.7% of the total transfer amount. Somewhere around $30 USD. Maybe an extra $1 for the Bitcoin transfer.

$31 vs $350? I think I know which one I'd rather be paying.

proof this guy ^^ doesnt even have a clue how the fees or "hoops" works

I cashout BTC to $$ with super low fee and none of these so-called hoops

just checked, for the $4200usd (3200 gbp) my exchange would charge $10 to sell btc to usd, then free withdraw to bank

so what exactly are these fees and "extra hoops" can you please specify bitcoin guru crucifissio. Also please let us know how often you are transacting with bitcoins, so we can know your exact super high guru level of bitcoining.

Thank you

https://www.paypal.com/us/selfhelp/a...ccount-faq2316


"Log in to your PayPal account, enter the amount you want to withdraw, and select the bank account to receive the money. We securely transfer the amount from your PayPal balance into your bank account at no cost to you."


the extra hoop is the whole bitcoin thing...

When you have usd in coinbase/gemini also is transferred to bank at no cost to you

and what are these hoops again please? specifiy

99.9% of all customers do not have bitcoin...they have paypal and credit card...

focus now...

they HAVE PP and CC but not bitcoin <---what they dont have

bitcoin...the extra hoop that brings no advantage whatsoever to the customer, but makes them jump through an extra hoop <----(funding bitcoin)

normal transaction:

click on pay...
(1 step)

bitcoin transaction

fund account
click on pay
(notice the 2 steps instead of 1)

do you get it now? normal people, 99.9999% of them, do not use bitcoin as a storage of value...they use regular money...they already have funded CC and Paypal linked to it...get it?

If you sell REAL customers a product or service you want to make the payment process an EASY one for EVERYDAY customers.

Anyone that deals with sales conversions understands this. If you want to go fishing in a puddle -- I should encourage this ... One less real competitor in the consumer sales marketplace :)

Mobil carrier payments would be an example of convenience at a high processing discount.

You price your cost of customer acquisition and your processing transaction costs into the selling price. Why doesn't Walmart accept Bitcoin? ROFLMAO at your illogic.

If only 0.02% of your current or potential customers have Bitcoin to spend right now you will go broke.