W
Warl0ck
I've read a few posts on this, so I thought I'd share some basics on Bitcoin. Bitcoin is a digital currency that is free of what some call the "banking cartel". It can be used in a variety of places and here is a short list of who accepts them (some will surprise you). https://99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/
Bitcoin Wallet: To get Bitcoin (BTC) you need a wallet. Best option is to set up your own wallet. This can be a bit tricky and you have to keep the wallet safe and secure (at home, locked up). You can also use a clearing house/exchange which are online. The biggest issue is these places can be hacked and your money stolen. It's best just to transfer your cash money to BTC when you need it ASAP.
Where to get BTC There are BTC machines in Vancouver, more notably at Waves coffee (several locations). In these locations you can transfer cash money to BTC to your wallet & then use that to make a payment at what you wish to buy. The process is not that complex.
How does it work with no bankA bank generally processes transactions and for that they keep a small portion of your money (service fees). For BTC, it's the "Block Chain". These are people who use their spare computer power, etc to help make the transactions. Noted is that a transaction can take a few minutes. Those doing the crunching are paid a small amount of BTC for their work.
It's not illegal to use Bitcoin & it is a pain in the ass for both the seller & buyer compared to using a straight up VISA. I would not recommend buying a whole bunch of BTC and holding it. The price swings all over the place. I used to "mine" BTC when it was 2 US dollars a BTC. Today it's around 975$. It's speculative & very risky but if you need it to pay for a Backpage ad, etc, buy what you need on the day you need it.
Here's a guide for Sex Workers on Bitcoin for Backpage. http://motherboard.vice.com/read/sex-workers-guide-to-bitcoin Questions in DM's always answered.
Bitcoin Wallet: To get Bitcoin (BTC) you need a wallet. Best option is to set up your own wallet. This can be a bit tricky and you have to keep the wallet safe and secure (at home, locked up). You can also use a clearing house/exchange which are online. The biggest issue is these places can be hacked and your money stolen. It's best just to transfer your cash money to BTC when you need it ASAP.
Where to get BTC There are BTC machines in Vancouver, more notably at Waves coffee (several locations). In these locations you can transfer cash money to BTC to your wallet & then use that to make a payment at what you wish to buy. The process is not that complex.
How does it work with no bankA bank generally processes transactions and for that they keep a small portion of your money (service fees). For BTC, it's the "Block Chain". These are people who use their spare computer power, etc to help make the transactions. Noted is that a transaction can take a few minutes. Those doing the crunching are paid a small amount of BTC for their work.
It's not illegal to use Bitcoin & it is a pain in the ass for both the seller & buyer compared to using a straight up VISA. I would not recommend buying a whole bunch of BTC and holding it. The price swings all over the place. I used to "mine" BTC when it was 2 US dollars a BTC. Today it's around 975$. It's speculative & very risky but if you need it to pay for a Backpage ad, etc, buy what you need on the day you need it.
Here's a guide for Sex Workers on Bitcoin for Backpage. http://motherboard.vice.com/read/sex-workers-guide-to-bitcoin Questions in DM's always answered.