Quote:
Originally Posted by Sinclar
Personally, I'd simply avoid bitcoins. I simply don't see the hype or need to venture into that arena.
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From the post it looks like Addison is trying to make a post on Backpage.
Typically providers paid for their postings by credit card processing. Unfortunately in July of last year the big credit card companies pulled their rights to process credit cards. *suspected LE was putting them under pressure to do so*
My post above has a link to an article going over it:
http://motherboard.vice.com/read/sex...ide-to-bitcoin
This put Backpage in a real bind as they needed to still receive payments from thousands of providers around the globe. Many providers started mailing in cash just to have their ads listed. Some providers reported their cash never making it to Backpage. Enter Bitcoin...a currency that cannot be shutdown. Most all of the providers on Backpage are now fluent with Bitcoin transactions as a result.
It has proven to be a stable currency (security and operation wise) since early 2010. As I mentioned above Goldman Sachs & Barclays back circle.com and USAA's online banking even supports adding Coinbase Bitcoin accounts to your existing account portfolio.
If Addison is just using Bitcoin for ads to Backpage it's probably a good idea to keep enough in a wallet or account to pay for ads, maybe no more than a single Bitcoin? I assume one Bitcoin goes a good way on Backpage....but I have no clue how much ads cost there.