Thinking Out Loud About.. dun dun dun, Bitcoin

[MFCGod]

I did do a search on here before starting this thread, bitcoin/cryptocurrencies seem to have been discussed a fair bit (mainly about camsites with bitcoin payment systems), I read about 50 or so posts, but just going to think out loud

Maybe everything I'm going to say has been said already, sorry if so.

If a girl wants to be paid for a skype show bitcoin is perfect, it's (almost) instant, no fees, it's anonymous, the payment can't be frozen & it can't be reversed.

I've read people say "bitcoin is unstable" well, that's not necessarily a problem because you don't have to hold them, you can swap them for cash as soon as you want on an exchange.

I know there are sites like bitpay also (youtube video where people can pay in bitcoin and you can choose to receive it as cash, you never handle the bitcoin, you don't have any risk, you just get the straight cash.

^ I don't know on what scale they operate, if it's suitable for an individual etc

What really would be perfect for camgirls is a paypal type of site that is a bitcoin exchange, the customer can pay in cash, the exchange turns it into bitcoin and they pay you back as cash; of course there will be fees with that type of thing, but not reversing or freezing of your account like paypal.

^ I have no idea if such a thing like that exists atm, maybe bitpay is that, I don't know enough about it currently.

I know despite saying the above that in the real world it's not too practical at all atm; I've seen how a lot of guys struggle with something as simple as mfc mail... :shock: lol or downloading a video

So I guess what I'm saying is, cryptocurrencies in an ideal world are perfect for camgirls (as they are with a lot of other things) so it kind of frustrates me to see people knocking it, but I also accept we don't live in an ideal world and there probably aren't enough people interested or the proper platforms anyway for it to practical at the time this is posted (that I know of)

Hopefully crytocurrencies continue to grow in the next few years because it will be of benefit to everyone.

 

[Magnolia]

Bitcoin is the single best thing to happen to my career!

No Paypal shenanigans or giftcards (there is only so much "stuff" one can have and it doesn't pay bills). Everything is anonymous and QUICK! I highly suggest using BTC to any cam-model.

(If any girls want help setting it up, feel free to pm me)

Bravo for this post, MFCGod.

 

[MFCGod]

Bitcoin is the single best thing to happen to my career!

How do you do it, just straight their wallet to your wallet? isn't it hard to find competent people who know how that works

Or are you working on a specific site that deals with bitcoin where people coming to it know whats what

 

[Magnolia]

Bitcoin is the single best thing to happen to my career!

How do you do it, just straight their wallet to your wallet? isn't it hard to find competent people who know how that works

Or are you working on a specific site that deals with bitcoin where people coming to it know whats what

Wallet to wallet. My highest paying regulars both use bitcoin only. I have a link to my wallet address on my MFC profile and I'll get random small bitcoin tips once or twice a day, which add up!

I tried working on titsforbitcoin, but there simply wasn't enough traffic. When I work at the strip club I bring up that I accept bitcoin for VIP (or they ask me about my coin sticker on my stripper heel). I have about a dozen regulars there that pay me only in bitcoin as well.

 

[Lintilla]

Bitcoin is the single best thing to happen to my career!

No Paypal shenanigans or giftcards (there is only so much "stuff" one can have and it doesn't pay bills). Everything is anonymous and QUICK! I highly suggest using BTC to any cam-model.

(If any girls want help setting it up, feel free to pm me)

Bravo for this post, MFCGod.

I haven't used Bitcoin nearly as extensively as you seem to, but I do have a shopping cart set up on my website, and for now it's the only way I'm accepting direct payment. As in, the whole thing is automated and download links are sent as soon as the payment goes through. Anything else requires me to confirm the payment manually (gift cards, tokens), pay high fees (the few credit card processors that accept adult sites), isn't adult friendly (PayPal, etc.), or takes things out of my hands (third party member site and the like--which is fine, just not my style or what I want).

I don't actively promote my site as a stand-alone store, I mainly set it up so I'll be able to generate codes/links for guys that pay in tokens on MFC to keep my videos self-hosted, but I've actually gotten a decent amount of drive-by Bitcoin sales from guys I've never heard of. I'm really not sure where they come from. If I ever get everything else moderately under control it's on my list of things I'd like to put more energy into.

 

[HiGirlsRHot]

The problem is the volatility of the currency. It often takes a month between when I pay for Skype and actually get the show sometimes it is as quick as a day but that is more the exception than rule.
If I model agreed to show at the beginning of the year when Bitcoins were $300 and our calendar finally worked so the show happened Jan 15 when Bitcoin was $180, she is not going be happy camper. Of course a member who bought Skype on that date and doesn't get it until a few weeks later when it was back up to $280 is also going to be unhappy.

 

[MFCGod]

The problem is the volatility of the currency. It often takes a month between when I pay for Skype and actually get the show

Why would they need to hold the bitcoin? they can swap them for cash on an exchange within minutes.

 

[JuniperGin]

Oh my glob I'm so happy this was brought up. I have recently joined the BTC camp and honestly I love it. Super simple, quick, easy, I can actually get cash instead of stuff and without a significant cut being taken. I just think it's the bees knees.

 

[TessaMoth]

Girls that use bitcoin, what sites are you using right now to convert your bitcoin into money you can use to pay your bills and such?

 

[Lintilla]

The problem is the volatility of the currency. It often takes a month between when I pay for Skype and actually get the show

Why would they need to hold the bitcoin? they can swap them for cash on an exchange within minutes.

Exactly. I generally convert nearly as soon as I realize I've been paid. The exchange rate doesn't fluctuate THAT rapidly. If someone paid for a Skype with me, even if we didn't end up being able to schedule it for months, I'd still have moved the money to dollars right away.

Unless he meant that the price would be quoted in bitcoins and wouldn't be paid until the show took place, at which time the previously agreed upon number of bitcoins would need to be paid? Because I'd never do things that way. I would quote a price in dollars, and when the day came up I'd expect the current equivalent in bitcoins. The fluctuations ARE rapid enough that setting unchanging prices given in bitcoins is not reasonable.

Girls that use bitcoin, what sites are you using right now to convert your bitcoin into money you can use to pay your bills and such?

I'm currently using Coinbase because it was easiest to use when I first started out with the whole thing. Being in Canada at the time and needing to deal with an American bank account was part of that, because they were able to accommodate it easily enough when some other sites I checked out were not (and I still had to do a whole email back and forth to get properly set up). I do somewhat want to switch, I don't think Coinbase is likely the best option. If anyone has a favourite I'd love to hear about it.

 

[RubyMia]

I love it!

I'm in Australia and payment options for skype shows are impossible here. Paypal is of course out of the questions, my only options are tokens or bitcoin. Some people have begged to transfer me the funds into my bank account but I don't know how risky that is and I don't want them finding out my real name. I'm a bit stuck on options.

I had my first bitcoin payment today! :dance: The wallet I used is CoinJar. It was so simple (Once my customer showed me how it works lol)

I wish more people could use it, but most haven't heard of it.

Luckily it's quite a big thing on Reddit and I've advertised shows on there so I'm hoping to build up some regular bitcoin payers over time.

I would love it if there was a website where the customer can go and send $20 worth of bitcoin to my code, without mucking about with setting up wallets and learning how it works/exchange rates etc. I think that's what puts people off using it, it's quite a lot to get your head round.


anywayyyyy


I like bitcoin and wish it was a bigger thing! Australia needs this!

 

[Jeromerow]

I would just add that you can get bitcoin sent directly to a exchange deposit address. Sell the coins for cash and withdraw when needed.

Good exchanges are the tricky part. Choosing a trustworthy site is important and those change every year.

Kraken - https://www.kraken.com/
Bitstamp - https://www.bitstamp.net/
Coinbase - https://www.coinbase.com/

http://bitcoincharts.com/markets/currency/USD.html
http://bitcoincharts.com/markets/currency/EUR.html

Make sure to check withdraw methods and fees. I would prefer direct to bank SEPA or similar.
See what verification documents the exchange needs before starting. Models sent their real info to cam sites aswell.

 

[CamGirlNet]

So I have another thread here, but the cam girl social network and marketplace I've been working used Bitcoins.

Cam Girls set up a store once verified.

Visitors to the site make purchases of their products using Bitcoins.

My website converts the payment to cash automatically. If an item the model sell is $10, I receive $10 and lock in the amount instantly as USD.

Once I've received the Bitcoins, I notify the seller via email she has an order ready and provide the customers shipping address to her store dashboard. She shops the item.

There's no risk of charge back. That said, if an item isn't received, you're guaranteed the funds. How you provide refunds or customer support or lack there of is up to the cam girl.

From there, I request Cam Girls get a Circle.com to receive Bitcoin. Circle allows me to send bitcoins to the model and have the model receive them as USD. There's no risk of fluctuations and Circle is easy to withdra to bank account.

The flaws with this method to be completely transparent. Payments are slower as even though purchases and conversion to cash are automatic, payouts to models are manual. Secondly, it's a new site and no content or visitors. Thirdly, because my website is the middle man, it requires faith I'll make the promised payouts..which I will as I'm honest but I just want to share that that could be a possible concern for models.

Heres a link to some more information.

Camgirlnet.com/blog

Keep in mind I'm still beta testing the site.

 

[Lintilla]

So I have another thread here, but the cam girl social network and marketplace I've been working used Bitcoins.

Cam Girls set up a store once verified.

Visitors to the site make purchases of their products using Bitcoins.

My website converts the payment to cash automatically. If an item the model sell is $10, I receive $10 and lock in the amount instantly as USD.

Once I've received the Bitcoins, I notify the seller via email she has an order ready and provide the customers shipping address to her store dashboard. She shops the item.

There's no risk of charge back. That said, if an item isn't received, you're guaranteed the funds. How you provide refunds or customer support or lack there of is up to the cam girl.

From there, I request Cam Girls get a Circle.com to receive Bitcoin. Circle allows me to send bitcoins to the model and have the model receive them as USD. There's no risk of fluctuations and Circle is easy to withdra to bank account.

The flaws with this method to be completely transparent. Payments are slower as even though purchases and conversion to cash are automatic, payouts to models are manual. Secondly, it's a new site and no content or visitors. Thirdly, because my website is the middle man, it requires faith I'll make the promised payouts..which I will as I'm honest but I just want to share that that could be a possible concern for models.

Heres a link to some more information.

Camgirlnet.com/blog

Keep in mind I'm still beta testing the site.

Thing about all that is... Bitcoin is simple enough that I can accomplish all of what you've written above on my own. In fact, I have, although I'm currently not offering any physical products. I also used WordPress, and what looks like the same shopping cart plugin. So unless you can offer lots and lots of traffic, which none of these sites ultimately have ended up bringing, and that being the only thing I don't currently have, you're really just an unnecessary middleman.

You said in the other thread that "I just figured customers would probably go to greater lengths to purchase items than models would go to to sell them", and I think that is exactly backwards. Every extra hoop a customer has to jump through to purchase something results in lost customers. Expecting them to learn about Bitcoin, overcome the stigma and get on board is one hell of a series of hoops. On the other hand, I am willing to go to lengths if it means people can send me money... Especially since on my end I only need to set it up once, vs every customer having to do the same individually.

My store isn't really set up expecting that I'll get a ton of Bitcoin sales, it's there mainly so I'll be able to host my own downloads to sell things while I'm online on MFC. Bitcoin is just something I added because it's so darn easy to add as an option and results in a small amount of extra cash for me. I wouldn't expect to see a huge influx of payments using that method, even though it means they're effectively paying half of what I ask when they pay in tokens, unless I were to start advertising on various subreddits etc. that I currently don't have time for in the future.