Fiverr Forum

Bicoin adoption?


#1

Has there been any news on Bitcoin adoption by Fiverr? It seems like something Fiverr would be all into especially the demographic it targets though its add campaigns such as a millennial audience. The ability to pay with Bitpay would be a great addition to the site and no doubt would be a popular option of payment.


#2

They had Bitcoin pay a long time ago. It apparently didn’t go well and they removed it.


#3

Interesting. Even if it wasn’t popular it still would have made sense to keep it up as an option so perhaps it was more of a security issue or too many problems.


#4

Even when Fiverr did accept Bitcoin, funds were paid to sellers as regular U.S. Dollars. (In this case, Fiverr should be sitting on a nice BTC nest egg right now.)

It is doubtful Fiverr would ever embrace cryptocurrency in the way some sellers would like it to. However, there is at least one Fiverr clone which accepts and pays out exclusively in Bitcoin Cash. I know some sellers here have already found some success there. The site is still in its infancy though. (And very buggy.)

There are also otehr cryptofreelance sites. However, if you use them you may want to consider setting up a completely different email address and online persona prior to signing up. I say this as there seem to be groups of people using such sites to phish for user details in very clever ways. In fact, this could also be a reason why Fiverr should think very carefully before looking into crypto payments themselves.


#5

I don’t know anything about bitcoin but I like hearing about it anyway.
How do you make a new type of currency? Is there a bitcoin inventor somewhere sitting on a large fortune?


#6

I know next to nothing about it, but I don’t think there’s a “bitcoin inventor sitting on a large fortune.” The blockchain is regulated in a way that new currency must be “mined” eliminating the rapid inflation and other disasters that could occur if additional BTC were freely generated.

Please, someone, correct me if I’m wrong.


#7

Who would regulate it? In the USA there are regulators. This is not under the laws of any place.


#8

Bitcoin is still a thing? Wow


#9

Alright, scratch that. Bitcoin’s growth is humongous (first “real” transaction was something like 10,000 BTC for 1 pizza; now each BTC is worth over $5000.) The pseudonymous creator of Bitcoin, Satoshi Nakomoto, was for a while the only (and then the prominent) miner and he ended up with about 1 million BTC unspent. So, if he chose to convert that, at the moment it would be USD 5 billion.

The software and network of users regulate the creation and transactions. Every transaction can be viewed with a tool like ********.com. Bitcoin also has this page on the regulation.

Absolutely it’s still a thing despite all the criticism. Many people don’t trust the infrastructure but for me the concern is the volatility.

MOD NOTE: Link Removed


#10

it still wort 5500 USD lol


#11

It sounds like it is a lot of words.

For example the dollar is supposedly backed by the US government. It used to be backed by actual gold. Even that is suspicious to some of us. It can simply be printed if more is needed. Something is only worth what is agreed to by everyone.

If someone claims each bitcoin is worth $1000000 who will say it’s not?


#12

The fact that fiat cash like the dollar can be printed on demand gives it less value than Bitcoin. There will only ever be 21 million BTC in existence. Nobody can ever increase the supply. All anyone can do is create a new kind of cryptocurrency and try and persuade people why it has value. A lot of people do this and some crypto coins do have merit. However, Bitcoin is the only coin where there is no call person.

i.e. If you create a popular cryptocurrency tomorrow, your phone will start ringing with people threatening to lock you up unless you discontinue it and others wanting to pitch ideas concerning how to run and develop your coin.

Bitcoin has absolutely no one to call, lay charges against, threaten, or manipulate. It is simply out in the wild. In theory, if 51% of all people supporting the Bitcoin network wanted to, they could hack the network. However, this would require a simultaneous effort and if successful, Bitcoin would become worthless as news of the hack spread. In this case, no one would ever stand to profit from the event.


#14

I’m surprised our FBI hasn’t investigated it and locked people away for life, even if they had to invent charges. They don’t need to see actual violations of laws. In fact I’m not sure it isn’t a violation of US law to use it.

If they ever get the time and funding and orders to do it they will and I won’t be surprised. Not because it’s wrong to use it. Because someone wants a big promotion and to make a name for themself.

Bartering is illegal. There were cryptocurrencies you could earn from bartering but they cracked down on that. They probably can’t find a way people are evading taxes on it.


#15

They have. (God Bless America.) However, it has already been firmly established that Bitcoin is legal and taxable in the same way as property. Also, your government secretly loves Bitcoin because it is easier to track and tax than the dollar itself.


#16

If it’s easier to track then why do they say to buy your illegal stuff on the dark web with bitcoins? It may be easier to track people who buy them but not so much what you spend them on.

If I buy bitcoins am I violating US laws? I’m sure there must be a law that applies to that.


#17

Because this makes it easier to catch stupid criminals. Bitcoin is absolutely the worst kind of currency to use in any kind of illicit transaction. Also, once you have made an illicit purchase, the person who sold you your goods is exposed. There are several more sophisticated cryptos which can be used anonymously. However, these aren’t as well-known as BTC. In this case, most of the time when you hear how dangerous Bitcoin is, you are hearing it from a lazy reporter recycling a 2010 myth, or one who is just using the term Bitcoin as a defacto reference for cryptocurrency in general.


#18

Nope. They are not illegal. However, if you sold coins, you could be charged with operating an illegal money transmission business. Also, you need to pay capital gains tax on any future transaction where you exchange coins for goods, other cryptos, or fiat cash. If you don’t, the IRS will know, because they pay a company called Chainalysis to track the Bitcoin blockchain and spot tax evaders.


#19

So let’s say I buy some bitcoins and buy some hallucinogens on the dark web with them. They can track my exchange of bitcoins for the drug to the dealer? Not that I plan on doing that.


#20

Yes. Easy as pie. You would be better off digging up some river cane root from the bottom of your garden, before feeding it to a local cow and collecting it’s wee. Better trip, cheaper, and unless someone questions whether yoyu are a real farmer, less jail time.


#21

I was just reading a book about groups of people who do exactly that. They made it sound safe and easy. They live in England mostly.