Halp! Transferring money internationally? Payoneer?? Other options?

[Moffle]

I would say BITCOIN is not safe or best to be honest. Its expensive to convert into real money with an unknown overhead and highly volatile - the $200 dollar show you did yesterday could be worth £150 by the time you get to cash it. Also vunerable to hacking - currently a Japanese bitcoin "like" currency has just been hacked to to the tune of 530m dollars with associated loss in value. Interesting, maybe for the future but not safe by any means (although probably safe in the identity side of things rather than the value side of things)

 

[pussyboy_prince]

I would say BITCOIN is not safe or best to be honest. Its expensive to convert into real money with an unknown overhead and highly volatile - the $200 dollar show you did yesterday could be worth £150 by the time you get to cash it. Also vunerable to hacking - currently a Japanese bitcoin "like" currency has just been hacked to to the tune of 530m dollars with associated loss in value. Interesting, maybe for the future but not safe by any means (although probably safe in the identity side of things rather than the value side of things)

It is not vulnerable to hacking if you store your coins offline. People who store their coins online probably didn't do any research or take the necessary precautions to protect their money. It's like leaving an envelope full of money in your mailbox because you trust your mail delivery person. It's illegal for anyone else to go into your mailbox and steal your money, but it might happen anyway. Store your investment coins offline on a piece of hardware that's safe just like you would store cold hard cash somewhere safe.

And it is also not as volatile as you describe generally. Simply cash your coins the same day you receive them and the value is unlikely to change much, just as likely to go up as down, and the loss is comparable with the fees all of our other options charge... just my experience.

Completely safe from identity exposure, invulnerable to anti-sex-work payment processors, and 100% irreversible is what's leading me to say that it's the safest option IMO. Also, the blockchain doesn't make mistakes, but money orders can get lost in the mail, visa gift cards can fail to activate, etc.

Not to mention there are all kinds of laws making it difficult to send $$$ anonymously internationally... whereas there are no laws regulating international bitcoin transactions. Using bitcoin circumvents these international restrictions with ease and technically you're not doing anything that's against any law.

I wouldn't recommend Bitcoin for real-time transactions because to get your transaction to go thru FAST, the processing fees ARE rather high. But sending money from one wallet to another that doesn't need to reach within the next 15 minutes is possible for a much, much lower fee. So it's great for deposits, payments that aren't time-sensitive, receiving gift money, etc.

 

[Moffle]

Agree with some of what you say but It doesn't much matter where you store your coins if the overall value of those coins drops madly because of hacking somewhere else, the current coincheck hack and previously the Mt Gox hack both wiped masses of value. Also, facebook has just banned cryptocurrancy ads and guess what? the price has just dived again.

If the dollar were to collapse tomorrow it would be bad, but in the short term $100 buys you the same even if the currency drops 30%.

 

[pussyboy_prince]

But why would you STORE your coins anywhere if you want them to retain their value? People who store coins are long term investors and understand that the value of the coins will fluctuate in the short term. Your bitcoin wallet should not function as a bank account.

This thread is about how to do an international money transfer. If you cash out the Bitcoins as soon as they’ve been received the value has no chance to fluctuate so wildly. Yes $100 might turn into $95 before you can cash it out, but it’s just as likely to turn into $105. Why would you “store” coins for any length of time at all if you’re merely using bitcoin to accept a transfer? You wouldn’t, that’s the point.

 

[pussyboy_prince]

I guess the value of $100 in USD doesn’t fluctuate wildly but it can easily be taken from us by payment processors who don’t approve of what we do. That $100 can turn into $0 real fast for sex workers. And no, then it doesn’t buy whatever it should buy. It buys nothing.

My point is that bitcoin is safer because no one can take it from us. The transfer is foolproof. To me that’s worth risking that the value might fluctuate a little bit before cash-out. In my experience I’ve almost always been on the beneficial end of that stick: for example a client sent me $400 and by the time I cashed it out it was already worth $450.

I never claimed that bitcoin is more stable than the USD I just said it’s safer. And considering that all digital financial transactions are either controlled by anti-sex-work payment processors or run by sex-work-specific professors that charge exorbitant fees (and ultimately still have the ability to steal your money), in my opinion it IS safer. There’s no middle man to hold your money with bitcoin. It is any black market entrepreneur’s friend.

 

[Moffle]

OK I'll admit you have a good point regarding payment processors, hadn't considered that angle.

 

[pussyboy_prince]

I’ve just lost $500 to payment processors once or twice too many times, that’s all! A lot of these payment processors work MOST of the time but if they suddenly don’t then we often have no recourse...