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Author Topic: When will the stock sites start paying us in crypto?  (Read 5805 times)

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« Reply #25 on: February 28, 2018, 05:36 »
0
Thanks I can see how that could work...so essentially the contributor takes all the risk/reward which the agencies might like ;-). Although the agency could just pay $ anyway and pass the costs of conversion to the contributor......my biggest doubt really is what is the reason at the moment why an agency would want to do this? But in the long term its a possibility I'm sure.

Well, the main thing would be to make international transfers or funds cheaper and faster. If the contributor directly converts to USD/EUR/whatever there is no risk compared to doing it all in USD. The only difference is bypassing PayPal when transferring money internationally.

For Americans getting paid from a US company, there would be little to no benefit of course. But to contributors making 4-5 figures per month in other countries, it could mean a nice boost.

The reason an agency would want to do this is simply to meet contributor/buyer wishes. Look at it as marketing.

One other advantage with accepting payments in crypto - no credit card chargebacks.  ;)
Buyer wishes I get....I simply don't think in current conditions they care much about contributor wishes. It may be a selling point for a new agency I guess if they can break into the market. I think we can just wait and see.


« Reply #26 on: February 28, 2018, 05:38 »
+1
Buyer wishes I get....I simply don't think in current conditions they care much about contributor wishes. It may be a selling point for a new agency I guess if they can break into the market. I think we can just wait and see.

Yeah, they might not care too much about the contributors, until a competitor does.

Anyway, I guarantee there will be an agency accepting crypto in 2018, but maybe not paying out in crypto. I bet one LTC (@Feb 28, 2018 USD value).
« Last Edit: February 28, 2018, 05:41 by increasingdifficulty »

« Reply #27 on: February 28, 2018, 05:47 »
0
Buyer wishes I get....I simply don't think in current conditions they care much about contributor wishes. It may be a selling point for a new agency I guess if they can break into the market. I think we can just wait and see.

Yeah, they might not care too much about the contributors, until a competitor does.

Anyway, I guarantee there will be an agency accepting crypto in 2018, but maybe not paying out in crypto. I bet one LTC (@Feb 28, 2018 USD value).
I wouldn't take the bet as I agree I fully expect it to become a payment method for buyers. I think though for contributors it  is a completely different kettle of fish ;-).   Genuine question how many businesses who accept payment in Crypto pay their supply chain with it?....I'm guessing this is rarer and a much harder nut to crack.

« Reply #28 on: February 28, 2018, 05:51 »
0
Genuine question how many businesses who accept payment in Crypto pay their supply chain with it?....I'm guessing this is rarer and a much harder nut to crack.

Not many yet, except of course all the mining companies, but GMO Internet Group in Japan is one large company offering to pay salaries in Bitcoin (thousands of employees).
« Last Edit: February 28, 2018, 05:58 by increasingdifficulty »

namussi

« Reply #29 on: February 28, 2018, 08:33 »
+2
When will the stock sites start paying us in crypto?

Not while cryptocurrencies are ridiculously volatile.

« Reply #30 on: February 28, 2018, 08:48 »
0
When will the stock sites start paying us in crypto?

Not while cryptocurrencies are ridiculously volatile.

As has been said before, volatility doesn't matter if it's just used as an international transfer method instead of PayPal. You don't have to keep the funds in crypto if you don't want to.

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #31 on: February 28, 2018, 10:04 »
+1
Buyer wishes I get....I simply don't think in current conditions they care much about contributor wishes. It may be a selling point for a new agency I guess if they can break into the market. I think we can just wait and see.

Yeah, they might not care too much about the contributors, until a competitor does.

Anyway, I guarantee there will be an agency accepting crypto in 2018, but maybe not paying out in crypto. I bet one LTC (@Feb 28, 2018 USD value).

What agencies? If it's some tiny upstart, I wouldn't bet you, if you make the bet one of the top ten on the right, it might be an interesting proposition. But "will be an agency" is far too broad.

As for paying us in crypto, it makes no difference to most of us and implementing the system to convert credits, dollars or pounds into some crypto, then send it, by the way, which there's a transaction fee, and as you pointed out the the system sometimes has delays and break downs. Plus when we convert it to something we can spend, there's another fee. I don't think this is currently a good idea. But that doesn't mean it won't happen.  :)

As for buyers using crypto currency, might be a good idea since it simplifies the exchange, except again, dollars, pounds and credit cards that convert, already exist.

Let me put it another way. People should not adopt something new, just because it's new. There should be a financial or business reason. By the same logic, we shouldn't just do things the same way just because, "that's the way we always did it before".

With the complications in accounts and transfers, instability, and other potential problems like tax reporting, crypto currency is an unlikely alternative to Paypal or and other current payment method.

One LTC is $210 right now, no thanks. But good luck on your prediction.

namussi

« Reply #32 on: February 28, 2018, 19:14 »
0
When will the stock sites start paying us in crypto?

Not while cryptocurrencies are ridiculously volatile.

As has been said before, volatility doesn't matter if it's just used as an international transfer method instead of PayPal. You don't have to keep the funds in crypto if you don't want to.

Volatility may not matter to contributors, but it could play havoc with the agencies' treasury management.

« Last Edit: March 01, 2018, 02:14 by namussi »

« Reply #33 on: March 01, 2018, 00:27 »
+2
When will the stock sites start paying us in crypto?

Not while cryptocurrencies are ridiculously volatile.

As has been said before, volatility doesn't matter if it's just used as an international transfer method instead of PayPal. You don't have to keep the funds in crypto if you don't want to.

And if you're away from the computer for a day or two - doing something odd like taking photos, for example, instead of gambling or currency speculating - your month's payout could lose 30% of its value between being transferred and you converting it into a traditional currency. Or maybe the agency buy the crypto on a Friday but don't transfer it to you until the Monday, after its value has halved. But, as you say, the volatility doesn't matter because it is, after all, the ideal currency type for those for whom "the money isn't what makes you happy".

« Reply #34 on: March 01, 2018, 01:50 »
0
And if you're away from the computer for a day or two - doing something odd like taking photos, for example, instead of gambling or currency speculating - your month's payout could lose 30% of its value between being transferred and you converting it into a traditional currency. Or maybe the agency buy the crypto on a Friday but don't transfer it to you until the Monday, after its value has halved. But, as you say, the volatility doesn't matter because it is, after all, the ideal currency type for those for whom "the money isn't what makes you happy".

Notice the key term: "optional".
« Last Edit: March 01, 2018, 02:13 by increasingdifficulty »


 

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