View Full Version : Let's Talk About Bitcoins
justanothercamgirl
04-27-2013, 11:48 AM
Why would it matter who posts where anyways? ANY GENDER should be allowed to post anywhere. I mean no guys model on cam ? Also, I see none of your threads regarding Bitcoin.
Great diversion tactic, troll. It is the same one well used by alcoholics and psychopaths.
Put them on the defensive by saying something that is obviously and outrageously untrue so they will argue about it and miss what is REALLY going on. That you are controling the situation by making them justify themselves.
Please everyone.....stop feeding this troll. You are giving him EXACTLY what he wants by trying to logic his crazy. He is probably fapping to all of this RIGHT NOW.
We need to ignore him and playtime wil be over.
If we don't then who fucking knows how much longer this will continue on for. You need to understand that right now he has us exactly where he wants us and we are doing exactly what he wants us to do.
This isn't about bitcoins. This is about a sick fuck who is getting off right now by getting us all worked up and GIVING HIM ALL THE ATTENTION HE COULD EVER WANT FOR FREE!!!
*JAC steps down off her soapbox*
Nikki_Fox
07-07-2014, 11:34 PM
I hate to dredge up an old thread and a heated one at that but - I ran across this tonight and felt that it should be posted - this thread was the most appropriate of the search
http://news.softpedia.com/news/Bitcoin-Payment-Solutions-Provider-BIPS-Hacked-1-295-BTC-Stolen-403365.shtml
Melonie
07-08-2014, 03:06 AM
I would also add that, in addition to the 'volatility' in the exchange rate value of bitcoin jumping all over the place, there is also a BIG risk factor in that gov't agencies now seem to automatically equate bitcoin transactions with tax evasion and other illegal business activities. As such, it's logical to assume that the gov't is tracking bitcoin transactions as best they can. It is also logical to assume that persons discovered to be conducting bitcoin transactions will face an increased risk of gov't 'attention'.
VivianofAustin
09-04-2014, 07:58 PM
I accept bitcoin!!! It is easy to do, you just create a wallet. So far, no one has offered to pay me bitcoin, but I like being able to offer it as another option. I like bitcoin because you can accept large sums of money at one in the morning without your bank account or Square Register account getting flagged or frozen (which has happened to a few of my friends even though they weren't doing anything illegal). It's also an international currency which might make working while traveling easier once more people start using it.
The reason bitcoin is volatile is because people are adopting it in fits and starts. There are also some speculators who invest in all sorts of currencies just to make a quick buck by dumping it on the market later. But, as it becomes more popular and widely used, these ups and downs are likely to even out. Overall, it's just going up.
Some people think that bitcoin is actually anti-fragile, as in it becomes more resilient the more it is stressed. The US dollar also has ups and downs. Look at this chart comparing it's value to gold: http://pricedingold.com/us-dollar/ As you can see, the dollar is going down rapidly due to inflation. Inflation happens when the US government prints more money in order to pay their bills (actually they just add money to their spreadsheet), but this practice makes the dollars that the citizens are holding less valuable, as in our money can't buy as much stuff as it used to. It's actually another insidious way that they tax us.
People complain that bitcoin is based on nothing, but actually, so too is the US dollar - which is how the government is able to manipulate it's value.
I'm definitely not switching all my savings into bitcoin right now, but I do think it's value will go up because it is useful. I plan to keep some money in bitcoin, and some in precious metals, and some in US dollar savings and in my IRA. This may be my tinfoil hat talking, but I think one day in my lifetime, the dollar will collapse, and I want to have a diversified portfolio so I am not financially harmed too terribly.
I'm not offended if ya'll are freaked out by bitcoin and aren't interested in using it yet. My friend pays his rent in bitcoin because his landlord thinks it's a neat idea, but incidentally it's just kindof a pain in the ass. For me, accepting bitcoin is more like a giant middle finger to Uncle Sam, because it makes completely voluntary and free exchange with others possible.
I might write more about this topic later.
justanothercamgirl
09-05-2014, 05:25 AM
For me personally, I might consider accepted bitcoin to sell videos but for me live camshows are still a no go.
justanothercamgirl
09-05-2014, 05:27 AM
The reason bitcoin is volatile is because people are adopting it in fits and starts.
Actually the reason bitcoin is volatile is because it keeps getting hacked. ;)
loveshooks
09-05-2014, 07:21 AM
I accept bitcoin!!! It is easy to do, you just create a wallet. So far, no one has offered to pay me bitcoin
that seems to be the experience of a lot of the adult websites that offer payment via bitcoin. Some of the speculation as to why is that, while bitcoin supporters tend to be quite fervent, many prefer to hold their bitcoins rather than actually spend them. Also, bitcoin users are a small community within adult website traffic overall, and tend to skew to a younger demographic, meaning that most of the older (and wealthiest) porn and cam show consumers aren't interested in this payment option. While anecdotal, one adult website owner reported that his overall earnings actually decreased once he started offering bitcoin as a prominent payment option, his speculation was that some potential customers associated bitcoins with 'shady' operations and decided to avoid his site entirely.
Different traffic types and sources will have different results of course, but as of yet I haven't heard a single adult porn or cam site owner report actually earning significant extra sums through bitcoin.
I'm not offended if ya'll are freaked out by bitcoin and aren't interested in using it yet.
I don't think most of us are 'freaked out' by bitcoin. I think we work hard for are money and are careful with it, and plan our business strategies thoughtfully rather than jumping all over the latest 'thing'. It really hasn't helped that most of the bitcoin fans and site reps who have joined sw to promote bicoins have been insulting and/or evasive when presented with questions about their business plans
For me, accepting bitcoin is more like a giant middle finger to Uncle Sam, because it makes completely voluntary and free exchange with others possible.
if that's the case and you intend not to declare income from bitcoins (and pay taxes on those earnings) then for your sake I'm really glad no one has been paying you in bitcoin. Not declaring earnings from bitcoin transactions and paying taxes on those sums will get you into a heap of trouble down the road.
LaPetiteVierge
09-05-2014, 07:30 AM
Kink.com has an option to pay for a subscription for them with Bitcoin. Chaturbate also accepts Bitcoin to pay for tokens.
I'm not sure what the future for Bitcoin is, but given the fact that the US Treasury even spoke of it, I'll be paying attention to it.
I don't know enough about Bitcoin to make a comment about it.
Missbeth
09-05-2014, 08:01 AM
Actually the reason bitcoin is volatile is because it keeps getting hacked. ;)
Yeah... or rather the exchanges keep getting hacked or shutting down themselves and keeping your bitcoin.
I love bitcoin - I trade bitcoin and make some money on the side but do not accept it for camshows.
The problem with bitcoin is it is not regulated which is a nightmare when an exchange decides to shut down or gets hacked.
For me, accepting bitcoin is more like a giant middle finger to Uncle Sam, because it makes completely voluntary and free exchange with others possible.
Okay you need to be very careful with this
If you deposit money into your bank account from btc the IRS can track it and they are taking notice of bitcoin
I keep records pay taxes on money I make from trading btc because I am not messing with the irs
Its up to you if you report money from btc but if you put it in your bank account there is a record and as btc gets more popular you can bet the irs will pay more and more attention to it
VivianofAustin
09-05-2014, 10:58 AM
if that's the case and you intend not to declare income from bitcoins (and pay taxes on those earnings) then for your sake I'm really glad no one has been paying you in bitcoin. Not declaring earnings from bitcoin transactions and paying taxes on those sums will get you into a heap of trouble down the road.
Oh, that is not what I was saying. I report my income. I meant like "free" like there is no central bank controlling and deflating its value.
Also, I wanted to clarify that it's not bitcoin, like the block chain getting hacked, people's wallets and sometimes many people's wallets at once have been hacked and bitcoins have been stolen. The technology is still new. You have to choose the purveyor of bitcoin services carefully, there are also some safety measures you can take if you want to hold bitcoin as an asset. https://bitcoin.org/en/secure-your-wallet
And yeah, so far I haven't had the opportunity to accept bitcoin. (Although someday I think it will catch on because it is useful: http://www.coindesk.com/information/why-use-bitcoin/) But just, in the rare scenario where a crypto-anarchist bitcoin fetishist comes into the club and wants to scan my QR code and airdrop me some skrill, I'm ready. :)
Nikatrina Fury
09-05-2014, 12:39 PM
I had the opportunity to participate in a bitcoin MLM a while back, but it was at a time where the bitcoin market wasn't looking too good and even my friends who had bitcoin for a while told me not to buy bitcoin.
loveshooks
09-05-2014, 12:44 PM
Oh, that is not what I was saying. I report my income. I meant like "free" like there is no central bank controlling and deflating its value.
ah, ok, gotcha.
And yeah, so far accepting bitcoin has not proven useful. But just, in the rare scenario where a crypto-anarchist bitcoin fetishist comes into the club and wants to scan my QR code and airdrop me some skrill, I'm ready. :)
I actually thought about adding bitcoin as a payment option when I was designing my latest site, which is why I did some research into webmaster's experiences of offering it.
after I weighed everything out it seemed like the risks and drawbacks heavily outweighed any potential benefit. The pro side pretty much had one item, a small chance of a small increase in overall earnings whereas the con side carried way more weight (risk of alienating potential clients, risk of alienating cam chicas, instability of the currency, security issues). Sure, my bank account could get hacked too but that I understand how to protect, at this point when it comes to btc- not so much. Plus, since I'd have to offer credit card payment options as well I wouldn't really save money in merchant account fees like the yearly Visa/MC charges. No risk of cb's would be another potential benefit but since my cb rate is non-existent anyways that kinda got canceled out.
I dunno, I find btc interesting as do quite a few chicas on this forum. I think what's happened, as I referenced above is that the pro-btc peeps who've joined sw have behaved so incredibly atrociously that they've managed to alienate a lot of chicas from even considering the currency. I'm talking like, the worst PR campaigns ever. There is one dude who runs a site offering btc payment that posts here on sw in the appropriate sections and he's fine, he follows the site rules and behaves respectfully so no one has any problem with him. I find his site somewhat problematic for other reasons related to design, etc, but as far as offering btc as a payment option, more power to him.
It will be interesting to see how bitcoins progress as time goes by.
Melonie
09-05-2014, 12:58 PM
^^^ in the way of another 'public information' message about bitcoin ... from
(snip)The United States' new Bitcoin tax rules just made casual, everyday use a complicated bookkeeping headache.
The Internal Revenue Service's notice last week will force the average Bitcoin user to keep a strict record of every purchase made all year long -- then perform difficult calculations to account for the changing value of a bitcoin.
***
For example, you buy a bitcoin for $500. It doubles in value to $1,000. With your more powerful bitcoin, you can now spend it all on a guitar. You enjoyed a $500 gain in Bitcoin value, and you'll need to report that on your tax return.
"It will get complex if you are spending at multiple merchants... over the course of a year," said Marc Nickel, a Silicon Valley attorney who closely studies Bitcoin.
The complicated rules kick in, because the IRS deemed Bitcoin a property. If it were labeled a currency, users would be able to treat purchases like worry-free transactions made in euros or yen while traveling abroad. That's why the Tax Foundation says the IRS got it wrong, calling the compliance requirements "inappropriate."(snip)
Keeping the 'translation' very simple, for income tax purposes US camgirls must keep track of the equivalent US dollar value of any bitcoin payments they receive from customers based on that day's 'exchange rate', and report that US dollar equivalent 'exchange rate' value as taxable 'business' income. Additionally, when those bitcoin payments are later 'spent' ( = converted to US dollars for bank transfer / check ), the US camgirl must compare the US dollar 'exchange rate' value of those bitcoins on the day they were actually received from customers into their web account, to the US dollar 'exchange rate' value on the day those bitcoins were taken out of their web account, and converted to US dollars for bank transfer / check purposes. The camgirl is then expected to also report ( and potentially also pay additional capital gains taxes on ) any difference in the two values ... in a manner similar to the reporting required for the purchase and later sale of stock shares.
Also, even if the US camgirl bypasses bitcoin reconversion to US dollars for bank transfer / check purposes, and directly 'spends' her bitcoins on a purchase, she is STILL expected to keep track of, and report to the IRS, any difference in US dollar 'exchange rate' value between the date the bitcoins were actually received and the date they were 'spent' ... with additional capital gains taxes potentially needing to be paid.
For the moment, with the exception of Finland, other countries are treating bitcoins as a currency ... meaning that differences in 'exchange rate' over time do not need to be tracked or reported as a capital gain.
justanothercamgirl
09-05-2014, 01:16 PM
There are also some safety measures you can take if you want to hold bitcoin as an asset. https://bitcoin.org/en/secure-your-wallet
There are some safety measures -- but even the repositories have a hard time securing themselves. ;)
Just to clarify, I am not against bitcoin. I personally like bitcoin. I own bitcoin and I'd love to see any camgirl make bank with (or without) bitcoin.
I just don't think it is a good thing to play down the risk. The funny thing is I am not really even afraid of the hackers. I am afraid of my government misunderstanding how much it is really worth and asking me to pay way more in taxes. LOL!
LaPetiteVierge
09-05-2014, 01:23 PM
So, hypothetically speaking, if a cam girl charged Skype sessions and wanted to get paid in Bitcoin, how do you even process payment for that? How do you set rates if the Bitcoin value is always changing?
Melonie
09-05-2014, 01:32 PM
^^^ essentially, you would set the price of the Skype session based on that day's US dollar equivalent 'exchange rate' ... which for today would mean that a US $100 session would carry a price of 0.211 bitcoins. From that point, you would record the customer's 0.211 bitcoin payment as US$100 of 'business' income ... which would later be added to your total 'business' income on your tax return Schedule C. Taxes due on the $100 of 'business' income would roughly be $25.
Additionally, when you actually 'spend' those 0.211 bitcoins ... either by converting to US dollars for a bank transfer / check payment or by actually 'spending' those bitcoins to make a purchase priced in bitcoins, you'll have to do the 'exchange rate' calculation again for that particular day. Say the 0.211 bitcoins then converts to US $120, thus a + $20 difference in value, due to the changing 'exchange rate' over that two week ( or whatever ) time period. You would record the $20 difference as a capital gain, which will later have to be reported as a line item on your tax return Schedule D. Additional taxes due on that $20 capital gain would roughly be another $4 .
Missbeth
09-05-2014, 01:37 PM
So, hypothetically speaking, if a cam girl charged Skype sessions and wanted to get paid in Bitcoin, how do you even process payment for that? How do you set rates if the Bitcoin value is always changing?
I'd set the rate as bitcoin is at the time the show is agreed on. Bitcoin usually fluctuates within about $15-$25/day so at a say 20 minute show for $50 the fluctuation for the $50 is only gonna be a few bucks
They'd send the btc to your btc wallet and bam you have it
Getting it to USD is where'd you'd have a "challenge", you could:
* exchange your bitcoin to a gift card - there are a few reputable sites that do this for a fee
* buy a tangiable good online with btc - there are a lot of online stores that accept btc
* sell the btc locally - find a buyer in your area, there are sites that provide this service, offer escrow, feedback etc, a lot of ppl will pay a small premium to buy bitcoin from someone locally because they prefer to, are novices trying to get into btc, have been burned online in the past, etc
* use an exchange and sell your bitcoin, get cash in your bank account, paypal etc. however the exchange I use has minimums for bank transfers ($1000 i think) and fees
There are exchanges that dont have minimums but the problem with exchanges is they could go down at any moment, awhile back one of the biggest ones did such and ALOT of ppl lost ALOT if money so if you are going to use an exchange you need do your research
RaineyLane
09-05-2014, 01:56 PM
I looked up bitcoins and found this...
http://www.usatoday.com/story/news/nation/2014/09/04/bitcoin-exchanger-charlie-shrem-pleads-guilty-to-silk-road-related-charges/15095129/
Melonie
09-05-2014, 02:18 PM
^^^ the Silk Road bust is 'old news' ... but does arguably reinforce the premise that the US gov't is paying a LOT of attention to bitcoin transactions these days, and that the US gov't is also 'assuming' that persons transacting in bitcoin have a higher probability of being involved in 'illegal' activities.
Personally speaking, I wouldn't touch bitcoin with someone else's 10 foot pole right now - due to both the tax reporting headaches, as well as the implied 'invitation' for increased gov't / IRS scrutiny. But that's obviously a purely personal opinion, with no hard facts available to actually back it up.
SarahTime
09-05-2014, 02:36 PM
I don't know toooooo much about bit coin but I do know a lot about the US and government and with that said.... anyone living in the US who thinks they are going to be able to stay 100% anonymous and keep from paying taxes on bit coins or anything else involving ways to basically not pay "your fair share" to the great and wonderful Uncle Sam (and trust me, I'm very much um... anti big government) is kidding themselves in a serious way. Short term, maybe you'll get away with it. Long term, no way. I don't really see bit coins becoming some popular thing like cash to credit cards because of the fact that it's NOT going to stay as "anonymous" as people think it is now, so what's the point.
VivianofAustin
10-28-2014, 12:13 AM
So, I just wanted to say... This is cool: http://altcoinpress.com/2014/10/use-bitcoin-to-remotely-rain-physical-cash-down-onto-live-strippers/ :)
Also, have ya'll seen this? http://metareddit.com/r/GirlsGoneBitcoin It's like girls post photos and people tip in bitcoin. But you can look at the pictures for free, it's donation based which is kindof like bleh, from my perspective. But it seems like a bunch of "online strippers" who post are parlaying it into other things, such as webcam shows or this: http://pix4bit.com/ which is the same sort of deal, except that you can have some photos that you must purchase to unlock. I think I'm going to do it, but I kindof want to post with nicer photos than selfies. Might as well right? I like bitcoin and I'm all about passive income.
Melonie
10-28-2014, 12:27 AM
^^^ I highly doubt that club management is aware of the tax / accounting 'mess' that this Tampa club is creating for itself !!! There is no way that the IRS is going to buy a 'charitable donation' scenario. As such, the club may be held responsible for paying business income taxes on every bitcoin received ... and may also be forced to issue 1099's to the dancers who are 'receiving' the bitcoin purchased dollars being rained down.
LingerieMilf
10-28-2014, 06:39 PM
It feels like the value of bitcoins is overly inflated at the moment. The only place for it to go is down. I wouldn't take bitcoins at the moment, but if your the gambling kind it could pay off. Anybody who got some 10 years ago and held on to them, is doing pretty good right now.
Melonie
10-29-2014, 08:33 AM
Just my personal opinion, but ...
- the fact that the US ( and other ) gov't automatically views anyone transacting in bitcoin with an elevated level of suspicion constitutes a negative-
- the complex cost basis tracking / capital gain or loss reporting requirements announced by the US IRS constitute a second negative.
- the 'volatility' of the US dollar equivalent market value of bitcoin constitutes a third negative.
Logically speaking, to justify taking on anything which carries negative 'baggage', there needs to be some positive upside which offers at least a reasonable hope that the positives will outweigh the negatives. Again, logically speaking, the major positive for bitcoin would appear to be attracting additional customer spending which would not otherwise have occurred were the transactions denominated in US dollars, Canadian dollars, Euros, etc. At present, it would appear that any bitcoin related positives are marginal while bitcoin related negatives are substantial.
Anybody who got some 10 years ago and held on to them, is doing pretty good right now
Indeed. But, like all other 'assets', past price performance history may not be an accurate predictor of future performance !!!
CassieHeart
11-14-2014, 11:18 AM
The IRS does not have the resources to enforce these new policies, and the guidelines are not intended to penalize "consumers." Indeed, even Keith Aqui, author of the IRS notice, suggested to the Wall Street Journal that the agency merely meant to discourage tax evasion on large purchases. Exempting de minimis Bitcoin transactions.
The man power and resources it would required to keep track of Bitcoin transactions and some how connect them to a individual is insane.
A Camgirl would not even have to report capital gains tax unless he or she has had $200.00 in gains. If you just simply cash out to USD there is nothing to worry about.
CassieHeart
11-14-2014, 11:18 AM
The IRS does not have the resources to enforce these new policies, and the guidelines are not intended to penalize "consumers." Indeed, even Keith Aqui, author of the IRS notice, suggested to the Wall Street Journal that the agency merely meant to discourage tax evasion on large purchases. Exempting de minimis Bitcoin transactions.
The man power and resources it would required to keep track of Bitcoin transactions and some how connect them to a individuals is insane.
A Camgirl would not even have to report capital gains tax unless he or she has had $200.00 in gains. If you just simply cash out to USD there is nothing to worry about.
Smiley_Emma
11-14-2014, 11:33 AM
I wasn't exactly sure how Bitcoin was until now, and had been considering them as another means to earn money. Thanks to all you knowledgeable ladies out there, I now know and think I may refrain from that for now :)
Have a great and prosperous weekend!