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#12756 - 01/03/21 07:40 AM Bitcoin is as High as it Has Ever been
Cheyenne Online   content

Veteran

Registered: 07/12/19
Posts: 1479
The credit card merchants are cracking down on the adult videos they will process, more so than ever before. It makes me wonder if Bitcoin will become the way to go for online adult videos. People have been talking as if bitcoin was going to fall as quickly as it spiked. But the draconian restrictions getting even worse...hmmmm...bitcoin may become the main method of purchasing videos. What are you thoughts?

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#12761 - 01/03/21 02:10 PM Re: Bitcoin is as High as it Has Ever been [Re: Cheyenne]
Swordfish Online   content
Artisan

Registered: 10/31/15
Posts: 92
Loc: California
Partially out of my own ignorance of people's motivations around bitcoin, I still consider bitcoin a speculative ,high risk high reward investment vehicle, more than something to do everyday transactions in. In invested a very modest amount for the first time this past summer, and if I were to make the mistake of counting my chips while I'm still at the table, I'd say I have made a pretty amazing return. I suspect it will keep going up for a while, but like I said, I don't understand the motivations driving people well enough to really think of it as anything but speculative for me

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#12764 - 01/04/21 04:45 AM Re: Bitcoin is as High as it Has Ever been [Re: Swordfish]
Cheyenne Online   content

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Registered: 07/12/19
Posts: 1479
Bitcoin is one of those things that, like a lot of people, I wish that I'd done 10 years ago. It is great to hear that you've seen a nice return even coming into it late. Visa and Mastercard starting cracking down on adult videos, particularly femdom, over 10 years ago. Now, they are focusing on 3rd party sites that producers to upload their own content. I've got to wonder what billing system people will use if Visa/Mastercard no longer becomes an option.

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#12766 - 01/04/21 01:16 PM Re: Bitcoin is as High as it Has Ever been [Re: Cheyenne]
Swordfish Online   content
Artisan

Registered: 10/31/15
Posts: 92
Loc: California
You and me both on the "wish I'd done it 10 years ago"! Bitcoin is certainly an option, in the sense that there's no central authority who can declare "no sexwork transactions allowed". But it's soooo speculative and the value swings so wildly at this point (it lost 10% last night!). On the other hand, a sexworker getting bitcoin always has the option to go sell it immediately so they are not at risk of losing it all (or of course holding it as an investment). There's other longer-term risks, e.g., national governments pass laws to forbid bitcoin-to-dollar (or whatever currency) transactions. But that appears to be a ways away

I personally would be fine transacting in bitcoin at this point. It's pretty easy to do once you understand it. I worry that one of the problems is that most people don't understand it; bitcoin scams are rife in the online world, mostly built around the fact that people (victims) don't understand how it works

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#12772 - 01/04/21 11:23 PM Re: Bitcoin is as High as it Has Ever been [Re: Swordfish]
Cheyenne Online   content

Veteran

Registered: 07/12/19
Posts: 1479
I've never taken the time to look into how it works. Like most, I'm creature of habit and would prefer to do what is familiar in online dealings. My guess and, it is just that, is that online femdom sales will take a hit if the plug gets pulled by Visa and Mastercard. A lot of online customers want convenience, which is understandable. You have my curiosity peaked about learning how to use bitcoin. I would have thought it was straight forward and simple.

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#12773 - 01/05/21 02:33 AM Re: Bitcoin is as High as it Has Ever been [Re: Cheyenne]
Swordfish Online   content
Artisan

Registered: 10/31/15
Posts: 92
Loc: California
For me, at least, I found that there's a whole bunch of choices, and even within a particular area (e.g., wallets) there's choices (software or hardware wallet) with choices (I'm going hardware - Ledger X or Trezor or Exodus or ....). Same with choices on how you'll buy your bitcoin, all of which have positives and negatives vs each other. If you are a complete beginner, you may be motivated to read about it all and try to make sense of it.

After a bunch of research, I now tell beginners: Just get your bitcoin on cashapp (if you're lazy) or Coinbase (if you're not), get yourself a Ledger X Nano hardware wallet, and spend some time figuring things out from there. There's cheaper ways to get bitcoin (but also more expensive ways), there's more anonymous ways to get bitcoin; but this way is easy to understand, not too too expensive, and pretty safe and secure.

Bitcoin scams are so rampant because that simple paragraph I wrote above, took me a bit of time to research what are all the ways to do things and what are the advantages/disadvantages, and then weigh them all for a beginner. The scammers can easily manipulate someone to transfering their (the victim's) bitcoin to the scammer's wallet


Edited by Swordfish (01/05/21 02:39 AM)

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#12774 - 01/05/21 02:46 AM Re: Bitcoin is as High as it Has Ever been [Re: Swordfish]
Cheyenne Online   content

Veteran

Registered: 07/12/19
Posts: 1479
Thank you. This is very helpful.

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