Bitcoin for Providers?

[JustforFun2012]

First off if the term is greek to you then please familiarize yourself with the technology; however, I'm wondering if I'm the first to believe that a Bitcoin payment system would be ideal for providers.

It's secure, anonymous, and once a transaction has posted irreversible. Providers can transform the digital currency to cash with a slight surcharge for the process in Bitcoin/BTC.

I'd like to hear from providers especially and any hobby'ists.

Would you be interested?
Think it's a viable market?

[Livindadream]

Seriously?

[JustforFun2012]

Why not? Cash is easier but BTC is FAR more discrete.

[JustforFun2012]

Oh and if I were a provider, in the range of $300 an hour, I'd much rather the vice squad walk in on me and a client with a BTC transaction vs. cash. Most vice would be oblivious of the transaction which occurred vs. cash on the nightstand.

[bcglx]

I really like this idea on using BTC, especially for safety reasons because if no physical money actually exchanges hands than it almost seems like no crime has been committed. However, i believe there would be some difficulty because of fluctuating BTC prices. For instance, i pay a provider at 200 and the price goes down 100 when she needs access to funds or vice versa my investment increasing to 300 which doesn't benefit both parties. BTC is basically digtial gold so we would need to come up with new BTC prices which are different from cash prices. This would be advantageous to the hobbyist while still being fair to providers. But if not id rather keep my BTC investments and wait to sell when the price goes up and use those cash profits instead.

[Mr. GPop]

I got a notice from my bank (Compass) that you can now link your PayPal account and it will auto Xfer from PayPal to your Compass account immediately.. there is a 3 dollar fee for each transfer but if you think about it.. you can get a PayPay credit card that is backed by your normal CC or it can be stand alone.

all the lady needs is some generic business account for "body grooming" or something that would not raise flags... maybe "personal wellness trainer"

[Mr. GPop]

I got a notice from my bank (Compass) that you can now link your PayPal account and it will auto Xfer from PayPal to your Compass account immediately.. there is a 3 dollar fee for each transfer but if you think about it.. you can get a PayPay credit card that is backed by your normal CC or it can be stand alone.

all the lady needs is some generic business account for "body grooming" or something that would not raise flags... maybe "personal wellness trainer"

[Livindadream]

Google offers a similar and cheaper service, but that leads to being able to be tracked very easily.

I questioned if you were serious about bitcoin because it is a very niche currency, completely unstable, and it is still not clear if if really has long term potential. At this point, you might as well suggest Doge.

[YoHou]

BTC is not as anonymous as cash

http://blog.cryptographyengineering....anonymous.html

[JustforFun2012]

First off thanks for the good points as it's been a thought of mine for a while and wanted to welcome some contrasting opinions.

My $0.02 is that it's digital cash. Dollars, Pesos, Paypal, Credit Card, or Bitcoins (BTC) it's all money. Ease of transactions, speed, and anonymity are all important to the industry.

Market fluctuations are a big problem as $300 one day could be $250 or $200 the next. It would take providers time to quickly cash in BTC at the best market rate. If they're good in the stock market they might even turn a profit on the BTC commodity.
-1 Point in my mind

Anonymity is greater than you think. Take cash, buy BTC, perform a transaction with a provider, and then empty the digital wallet and destroy it. While there was a register in the central blockchain with the wallet destroyed so goes the evidence. The provider walks away with a smartphone full of BTC which is HARD to prove.

In short I see a minor headache for providers but a benefit to the hobbyist. Any other feedback?

[spear88]

I wonder if any of you gals would accept pig belly futures ?

[Unique_Carpenter]

One of the Bitcoin founders got arrested under federal money laundering charges related to narcotics.
Two of the large trading outfits that process bitcoin transactions both had to temporarially close, and suspend payouts in real cash, as their equipment was overrun with DOS attacks.
If your computer gets a cold, it could do interesting things with the wallet.
Seriously, most of the folks here are not techies, do you really think they want to hastle with, or actually do, a wallet install?
And, folks on the road are using laptops so where would the wallet go?
Let alone most folks use laptops nowadays, even at home with a second screen.

[BFCjosh]

Originally Posted by JustforFun2012

If they're good in the stock market they might even turn a profit on the BTC commodity.
-1 Point in my mind

Yeah, these girls are stockbrokers by day and providers at night. Seriously, dude?

[JustforFun2012]

Guys, thanks for the informative and even negative comments. To address some questions:

Wallet-TONS of Smartphone wallet options. Otherwise you can do a brokered escrow trade as well with sites like Localbitcoins. I could see providers 'trading' BTC for cash when the cash is actually services from the provider. I'd foresee other exchanges but there's one thought.

Techie Questions-We all use a laptop, most a smartphone, and a minority some form of online wallet (Paypal, Bitcoin, etc.). Do you need to understand TCP/IP to send an Email? Understand iOS or Android to use a smartphone? Do you need to understand the workings of ECCIE's forum system to be able to post? I think that it's frankly easy today and will be easier and less techy in the future. I'd say a smart provider can do it today by multiple methods which would benefit the client.

Trading/Futures/Brokers-A small percentage of providers DO perform services to go to college all joking aside. I'd see the average one cashing in BTC immediately and a smart one watching exchanges and profiting further. YES, if I had a pussy and were a provider I'd be in the market in my spare time and profit further to pay for a degree, or degrees, a home, real-estate investments, etc. Wouldn't you rather see a provider of that caliber? No AMPs, BP, or CL providers will ever do this; however, good Houstonian women could.

My Angle on the Action?-I'll state I'm involved in the marketplace for BTC. In short, I'd love to see a provider do direct, fairly priced BTC-based services. I also thought I was ahead of the curve by 1-2 years but...a quick Google brought this up:

http://www.losangeleskatrina.com/#!chose-bitcoins/c1yws

That's it, there's A provider for Bitcoins for proof and I'd expect if I spent more than 10s on the subject I'd dig up more. Now when will Houston catch up with LA??

So-More provider input please?

[Stanfeld]

One hour 1.6 bitcoins = $748.71 at today's rate. That's one HTH.