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#19623 - 01/28/24 11:45 AM
Re: bitcoin
[Re: Mistress Tissa]
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Enthusiast
Registered: 08/15/19
Posts: 247
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looked into bitcoin earlier on in its existence. I remember it seemed confusing and shady, reminiscent of scams. Like I had to buy s gift card and wait for someone to accept it and give me bitcoin. I never tried this because it just seemed tedious and like there wasn't enough benefit for me.
If I were to accept a payment in bitcoin and want to immediately convert it to USD how does that work, exactly? Do I have to wait until someone buys my shares of bitcoin? What if no one does? Isn't it possible that the value of my bitcoin could drop in this timeframe? Once someone does, how do I withdraw it into actual cash? Its actually very straightforward and not much different than setting up an online savings account. You need to open a bitcoin wallet which basically functions as an online aavings account and link that wallet to your bank accounts. A quick google search will give you a few options of best wallets. There are many options. Once you have a wallet you will get an address. Think if this as a routing number if someone wants to send you bitcoin you provide your address. The transfer process generally takes a few seconds to ~10 minutes but leans closer to the shorter end. Once you have bitcoin its immediately convertible to cash. With a small fee (generally less than 1%. So when a Domme accepts bitcoin , i can ask for her address send her the money, she converts it to dollars and transfer to her bank account. Session fees are handled quickly (less than 5 minutes) and relatively anonymously for all parties involved. Their are a few well established Dommes that use this approach. Ive found it to be fantastic
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