Crypto currency

[egg585]

I am wondering if anyone has used crypto currency to exchange for services. Determining worth isn't the easiest, due to high fluctuations, and it can take some time to transfer using some of the more popular systems, but it is nearly untraceable. For providers that require larger web payments (think pornstar), it may not be a bad way to go.
Bitcoin is the obvious standard, but etherium and ripple are good options too. Fyi: ripple has gone up around 36,000% this year and will likely get a large jump. Currently it is a bit of a pain in the ass to buy. Cash to Etherium on coinbase, Etherium to ripple on binance. Coinbase is likely going to be offering ripple exchanges soon, which will make purchasing it much easier and popular.

[egg585]

Disclosure: I own Etherium and ripple assets.

[mokgp2017]

You lost me at "cryptocurrency" How does one "buy" or "acquire" bitcoin? Maybe 60 is just too old to grasp this stuff!

[egg585]

Pretty similar to a stock. It is much easier to transfer between people than stocks and you don't have to pay tax on it during the transfer, unlike stocks.

[watercooled82]

Originally Posted by egg585

I am wondering if anyone has used crypto currency to exchange for services. Determining worth isn't the easiest, due to high fluctuations, and it can take some time to transfer using some of the more popular systems, but it is nearly untraceable. For providers that require larger web payments (think pornstar), it may not be a bad way to go.
Bitcoin is the obvious standard, but etherium and ripple are good options too. Fyi: ripple has gone up around 36,000% this year and will likely get a large jump. Currently it is a bit of a pain in the ass to buy. Cash to Etherium on coinbase, Etherium to ripple on binance. Coinbase is likely going to be offering ripple exchanges soon, which will make purchasing it much easier and popular.

USD>Eth on Coinbase then Coinbase>GDAX>Binance to avoid fees

[Alchemist2u]

Like everything else on the internet, sometime, someday, it will be hacked for the benefit of the hackers and the loss to everyone else.

[John Boneher]

I asked, in a post a month ago, about providers that accept cryptocurrencies. There are a few who got back to me, indicating that they do. A great way to shield from a nosy significant other.

[John Boneher]

Originally Posted by Alchemist2u

Like everything else on the internet, sometime, someday, it will be hacked for the benefit of the hackers and the loss to everyone else.

In the same way that you would hopefully never leave your cash out on the sidewalk for someone to grab, you should also store most of your assets in cold storage. That is, offline where it's inaccessible to hackers. I found the ledger nano wallet to be a great choice.

And if it's lost, it is password protected so nobody can steal your coins. You can reclaim your coins, even without the wallet, using the 24 word key you establish when initializing the wallet.