Bitcoin & BP???

[Lacie Foxx]

I did some research into it and watched a few youtube tutorials about Bitcoin so I kind of understand it. But I was wondering if we have anyone on her who actually uses Bitcoins that can answer some of my questions? I'm thinking about mining

[Kabarakh]

Bitcoin is a bit of a daunting task. It's cryptographic currency, so as each Bitcoin is created ("mined") it gets more difficult to continue to produce more. And bitcoin miners feature some pretty heavy duty mining setups these days. He biggest of them is 3,000 computers running in an abandoned factory in China.

With Visa and MC pulling out of backpage though it's something for some providers to look into. This is a pretty decent article on it. And I think you can still contact the provider mentioned in the article for the information she's offering too.

http://motherboard.vice.com/read/sex...ce=recommended

[Danielle Reid]

I use it on Backpage and have been doing so for months. Not sure I can answer questions though. I don't think about it...I just add money to it and go

[Ginger Doll]

I finally figured out the Bitcoin for Backpage deal using an app called Circle.

Get the circle app, and you can load money from your debit card and convert it to bitcoin.

I've noticed that using this method has been cheaper than what the Backpage ads used to cost. About half the time they don't charge me anything to bump my ad. I just bumped the one I have in Memphis for a dollar. Not sure if it's some kind of fluke or what!?

[Lacie Foxx]

Thanks, still checking around. I know I've been using my laptop to post the last few days and it's been free. Kind of wondering if BP is going to fold to the pressure though.

[Lacie Foxx]

http://www.foxnews.com/us/2015/07/08...adult-section/

[Lacie Foxx]

Originally Posted by Kabarakh

With Visa and MC pulling out of backpage though it's something for some providers to look into. This is a pretty decent article on it. And I think you can still contact the provider mentioned in the article for the information she's offering too.

http://motherboard.vice.com/read/sex...ce=recommended

Thanks love, leading me to some good info

[BabyDallass]

Backpage stills accepts American Express...And they do have a pre paid debit card ...I don`t really want to use the bitcoin stuff unless I just really have to.

[catfingers]

i have been using bitcoins for several years and it's not too difficult once you understand the basics. since it has been mostly underground and only recently being used mainstream, there are a lot of scammers out there, so try to stick with reputable bitcoin "wallets" and transfer services. circle.com is fantastic you can link to a card or a bank account and convert dollars to bitcoins or bitcoins to dollars no problem.
one cool thing is that transactions are virtually anonymous. you send bitcoins to an "address" that looks like XDFC123421XCdfcg and it ends up in that person's wallet. if you have a wallet, you can generate an address and tell someone to send bitcoins to that address. you can generate as many addresses as you want. sooooo...it would be really cool if some providers would start accepting bitcoin payments.
anyway, i would be glad to help anyone out with more info and/or recommendations. pm me if you are interested.

[scottprestons]

From what I understand (which is very little ) bit coin would be the opposite of anonymous. It works because the transaction of the bit coin can be traced through each transaction to the source. Imagine if the dollar in your wallet logged publicly every transaction it was used for.. https://en.bitcoin.it/wiki/anonymity

[BabyDallass]

Wonder who is behind the bit coin? I would think it would make the LE easier to trace your money and spending.

[catfingers]

That's just the thing. Even though a transaction can be seen in the network, the only thing that can be seen are the addresses and transaction number, and to someone, even LE, looking at those transactions, it is next to impossible to know who an address belongs to. This is one reason why LE hates it. And on top of all that, there are services called "tumblers" that will encrypt the bitcoin transaction which launders it adding another layer of anonymity.
Anyone interested in your finances would have to figure out who you were, what they thought you were doing wrong, who you ever held a bit coin wallet with, and obtain a warrant to each of those wallet services, many of which are not based in the US. And then if they got that far, they would have to figure out who belonged to each transaction with a different address for each transaction, which would be close to impossible, and impractical if they thought you were spending your money on escorts. I can give more detailed info if anyone is interested.

[Kabarakh]

Originally Posted by BabyDallass

Wonder who is behind the bit coin? I would think it would make the LE easier to trace your money and spending.

First, your first question is just so much bigger than you could have meant it to be.

It would probably be harder only from a standpoint of it being more difficult to actually obtain the records for study. As is, yes, it's likely to be not worth the effort for LE to try to sift through and find the connections, but as time goes on and Bitcoin becomes more popular for its anonymity, the departments will adapt and probably hire on or train forensic accountants specifically to sift through the data presented.

The encryption of transactions... Well that's a security precaution, yes, but one to keep the transactions themselves secure from hijacking. Law enforcement isn't going to be sniffing your traffic to try to watch what you're doing realtime. Well, FBI, NSA, CIA might. But that's sort of a different boat altogether. And the computer arrays and encryption experts they have can shit on some random company's encryption standards if they really want to. But, more to the point - the company is going to have to keep clear, identifiable records. Bitcoin isn't regulated but as it interacts with standard currency, they have standards they have to keep up with. I mean, IRS liabilities alone. She. The IRS comes after you, you are about as "innocent until proven guilty" as it gets in the U.S. If they can just show spending higher than income as a sustained model of your financial history, the burden of proof is on you to say where the income came from. So, all that to say - a company would be committing financial suicide if they didn't have unencrypted versions if their books available for when a subpoena comes floating along.

[Sweet Casey]

I have been posting on BP for free or so I thought. I pulled up my transaction history from my prepaid card and the two days I thought I had posted for free I was actually charged,
My next question is,,,, are yall having to pay for your ads or are you still posting foor free?
Im not having to pay