Payment through Bitcoin; Has it been explored?

[Velway]

As a model, I'm likely not alone when I say I'd be extremely interested in an option to be paid in BTC. It's a controversial topic, but it'd be a loophole around paying taxes, since modelling is expensive as it is (we make half of the money we earn or less, a lot of it is invested in toys and equipment). Is there a legal reason payment through BTC hasn't been introduced into the modeling community? Just curious.

 

[WebcamStartup]

All the companies would still 1099 you, so it wouldn't be a loophole for taxes. That being said, there's several sites that do accept payments and I know I've seen at least one that pays out Bitcoin.....Off-top, can't remember which one, but I know I've seen site(s).

The only site that I know of that can really facilitate what you are looking for is Streamium. Their policy basically says "don't do anything illegal". Technically, not compliant with 2257 or any of those other laws. But then again, 2257 might soon be a thing of the past.

Now, if you want to moonlight services on the side, Bitcoin could totally be something you could leverage and something that could be used to get around the IRS. Technically non-compliant with the Internal Revenue Code, but I'm not the biggest fan of law, so I wouldn't judge

 

[Mila_]

I only use tokens and I dont sell content or Skype time or any of those things but if I did Bitcoin would have to pick some serious steam before I would consider using them as a payment method because right now not many people use it and it is difficult to learn how. Especially for older people. I guess adding your wallet number to your profile doesn't cost a thing so you can try and see if it works. AirBnB added bitcoin a while back so maybe there are more people using it than we think.

Regarding taxes there are better ways to do it so you don't break any laws, but it would require you to move abroad.

 

[Serenity_Tam]

@Magnolia uses bitcoin for things. Not sure if for camming or what but I know she's mentioned it so maybe can give you advice.

I just want to say something about making only part of what you earn. You make all of what you earn. All of it. Camsites are providing you a platform, traffic, depending on the site DMCA services. It costs a lot of dollars to run a cam site. They also employ tech support to help you when you have an issue and a blanket of protection. SO don't look at it like you only make part of what you earn. And the part that the cam site takes ... you don't pay taxes on. The things you spend for camming can often be claimed on your taxes. I know the year I had to replace my cam computer (I have on exclusively for cam stuff) I had a huge reduction in what I would have owed.

I understand wanting to get around taxes, but I think it's shit since tax dollars pay for vital services (at least in Canada) and everyone pays taxes. But whatevs. Sex workers have a bad enough reputation as it is without publicly scheming how to get around taxes.

Skype is a whole other issue with privacy though, I am pretty sure theres some info on it in MO.

 

[Velway]

All the companies would still 1099 you, so it wouldn't be a loophole for taxes. That being said, there's several sites that do accept payments and I know I've seen at least one that pays out Bitcoin.....Off-top, can't remember which one, but I know I've seen site(s).

The only site that I know of that can really facilitate what you are looking for is Streamium. Their policy basically says "don't do anything illegal". Technically, not compliant with 2257 or any of those other laws. But then again, 2257 might soon be a thing of the past.

Now, if you want to moonlight services on the side, Bitcoin could totally be something you could leverage and something that could be used to get around the IRS. Technically non-compliant with the Internal Revenue Code, but I'm not the biggest fan of law, so I wouldn't judge

Is there a reason they'll still 1099 you if you've never been paid in legal currency? The only reason I can think of would be the fact that customers put actual money into the site and tip you with that money.

I only use tokens and I dont sell content or Skype time or any of those things but if I did Bitcoin would have to pick some serious steam before I would consider using them as a payment method because right now not many people use it and it is difficult to learn how. Especially for older people. I guess adding your wallet number to your profile doesn't cost a thing so you can try and see if it works. AirBnB added bitcoin a while back so maybe there are more people using it than we think.

Regarding taxes there are better ways to do it so you don't break any laws, but it would require you to move abroad.

Bitcoin is bigger than people think. But not with old people, as you mentioned. I've seen a lot of the Internet, per se, and this type of currency is blowing up! People dedicate thousands of dollars to computers made specifically for mining BTC. It's just a taboo topic; mainstreaming a currency that really has no reach by the "important people", that is.

@Magnolia uses bitcoin for things. Not sure if for camming or what but I know she's mentioned it so maybe can give you advice.

I just want to say something about making only part of what you earn. You make all of what you earn. All of it. Camsites are providing you a platform, traffic, depending on the site DMCA services. It costs a lot of dollars to run a cam site. They also employ tech support to help you when you have an issue and a blanket of protection. SO don't look at it like you only make part of what you earn. And the part that the cam site takes ... you don't pay taxes on. The things you spend for camming can often be claimed on your taxes. I know the year I had to replace my cam computer (I have on exclusively for cam stuff) I had a huge reduction in what I would have owed.

I understand wanting to get around taxes, but I think it's shit since tax dollars pay for vital services (at least in Canada) and everyone pays taxes. But whatevs. Sex workers have a bad enough reputation as it is without publicly scheming how to get around taxes.

Skype is a whole other issue with privacy though, I am pretty sure theres some info on it in MO.

I'm not looking at this as if those sites shouldn't get their cut. I was simply making a statement; we don't make as much money as the public eye assumes. In a matter of perspective, we are making about half; half of what members pay.

As far as your comment on the government... The American government is not the Canadian government (stating the obvious). Personally, I'm alright with paying state taxes, as those taxes are much easier to track. They're who's responsible for majority of the nice things (or not so nice things) each state offers. However, I live in a state that does not charge taxes.

The federal government is another story. Most Americans I assume do not like the federal government. Sure, I'll pay them their taxes, but if there's a way around it, I'll find it.

Maybe I'm a terrible influence. I watched my mom get paid under the table my entire childhood, now here I am provoking the masses with my sneaky lifestyle.

 

[Magnolia]

@Magnolia uses bitcoin for things. Not sure if for camming or what but I know she's mentioned it so maybe can give you advice.

BTC makes up a large chunk of my monthly income. It is a great way to receive payment for services while remaining anonymous and not having to worry about chargebacks. I would recommend it for any camgirl!

Here is the thing about taxes though, unless you use BTC for everything... when you transfer it to your bank accounts BOOM there it is, right there, and the IRS will get up your ass about it. If you're one of the lucky people who can go shopping with BTC and convince your landlord to take it as payment for rent then that's awesome (there are lots of workarounds like buying giftcards for shopping with BTC or using bank accounts through certain countries). But as chances are, you're going to need to claim at least part of it. You can try to claim it as a gift, but if becomes a large chunk of your income, as it is with me, you probably won't get away with it. Being a camgirl and getting audited sounds like a nightmare to me. DX

 

[WebcamStartup]

Is there a reason they'll still 1099 you if you've never been paid in legal currency? The only reason I can think of would be the fact that customers put actual money into the site and tip you with that money.

Because they're paying taxes on their profits. If they're not 1099ing you, they're paying the tax on the money they paid you as well. All companies will 1099 you because they want to pay the least amount of taxes possible.

The federal government is another story. Most Americans I assume do not like the federal government. Sure, I'll pay them their taxes, but if there's a way around it, I'll find it.

Someday we'll have a flat tax, we'll be able to basically abolish the IRS, entrepreneurs won't be discouraged from starting up businesses, everyone will know how to actually pay their taxes and everything will run better. Vote Libertarian.

 

[Luxlives]

I accept bitcoin as one of my payment methods for kik, snapchat, and skype shows, I'm a big fan and wish i could get more people to use it. There is a bit of inherent risk due to the fact that the currency fluctuates in value, but if you cash out quickly it's not really an issue.

 

[Mila_]

Is it okay to put your BTC wallet number on your Chaturbate profile or do they ban your ass?

 

[Velway]

Is it okay to put your BTC wallet number on your Chaturbate profile or do they ban your ass?

You can probably get away with it if you explicitly state that you only accept BTC tips as tokens of "generosity". As in you will not perform or reward people for BTC. They do have a wishlist section for these kinds of things but I think if you're being suspicious they may ban you. I'm not going to put mine on my profile because, personally, I feel the risk isn't worth the reward, but maybe someone with more insight would be able to clarify...

 

[Sevrin]

You can put your Twitter on Chaturbate, which is fine, and then put your wallet # on Twitter or your on personal website linked from Twitter.

 

[Mila_]

You can put your Twitter on Chaturbate, which is fine, and then put your wallet # on Twitter or your on personal website linked from Twitter.

I don't have any social media or website so that option doesn't work for me personally