Bitcoins??

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TDick
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Bitcoins??

Post by TDick » Wed Sep 23, 2020 10:47 am

I have a thing that requires setting up a Bitcoin account to RECEIVE payment on a deal.
I'm old and ignorant. :wtf:
Anyone have experiences - good AND BAD - with suggestions.

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Expat
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Re: Bitcoins??

Post by Expat » Wed Sep 23, 2020 11:09 am

I wouldn't particularly want to be paid in BTC: solid risk the value may drop before you can sell them. Also there are costs associated with the sale.

It's a bit like accepting gold as payment.
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Setsumi
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Re: Bitcoins??

Post by Setsumi » Wed Sep 23, 2020 1:13 pm

look at a wallet that have a debit card attached to it. or Blockchain.
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Re: Bitcoins??

Post by TDick » Wed Sep 23, 2020 3:21 pm

Expat wrote:
Wed Sep 23, 2020 11:09 am
I wouldn't particularly want to be paid in BTC: solid risk the value may drop before you can sell them. Also there are costs associated with the sale.
I agree. Unfortunately, after the fact, the option is do I want to get paid?
If yes, it's bitcoin.
Previous customer, will NOT be a future customer.

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Re: Bitcoins??

Post by jonnys_spirit » Wed Sep 23, 2020 3:22 pm

When you convert or transfer the BTC into cash keep $100 worth in the BTC acct and check it next year. Could make some bank.

Someone pointed out some BTC ATM’s here local in town last week. Wtf?

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Expat
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Re: Bitcoins??

Post by Expat » Wed Sep 23, 2020 3:56 pm

TDick wrote:
Wed Sep 23, 2020 3:21 pm
Expat wrote:
Wed Sep 23, 2020 11:09 am
I wouldn't particularly want to be paid in BTC: solid risk the value may drop before you can sell them. Also there are costs associated with the sale.
I agree. Unfortunately, after the fact, the option is do I want to get paid?
If yes, it's bitcoin.
Previous customer, will NOT be a future customer.

Yeah, that's a pretty useless current and future former customer.

Here are some links which may help.

How to Sell
https://cointelegraph.com/bitcoin-for-b ... l-bitcoins

Bitcoin wallets
https://cointelegraph.com/bitcoin-for-b ... in-wallets

Disclosure, i'm not an expert in crypto currencies and I cannot personally vouch for the data provided; seems reasonable though.
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Re: Bitcoins??

Post by Delecto » Wed Sep 23, 2020 7:43 pm

I’m pretty familiar with cryptocurrency‘s in general and bitcoin specifically. It’s a great big hassle to set up an online account to receive bitcoin. There are other ways of doing it but again a hassle. That is part of the reason cryptocurrency’s haven’t taken off is because there’s a learning curve and security measures and government issues and…

A couple of questions: how much money are we talking about? If it’s not a large amount it may be better to find a person that you trust who is interested in buying more bitcoin and just making it a three person process. That involves a level of trust which I don’t know how you will get around. But the way it would work is your guy would pay another person in bitcoin and that person would pay you through Venmo or PayPal or whatever else in dollars.

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Re: Bitcoins??

Post by Delecto » Wed Sep 23, 2020 7:59 pm

And I will add that the specific amount that he owes you should be padded by I would say 10 to 15% for the hassle factor.

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