MicrostockGroup Sponsors


Author Topic: Idea, don't make fun  (Read 1278 times)

0 Members and 1 Guest are viewing this topic.

« on: February 10, 2021, 11:44 »
0
With the price of royalties falling from ALL stock sites. Here is a idea that just might make your payments go up. Now before you make fun of me have an open mind to this. I do hope Mat is reading this from Adobe as this would be a first for Adobe and would get them a lot of publicity which might move Adobe Wall Street stock price up. Have an option for payment in Bit Coin. From the stock contributor side what do we have to lose when so many stock sites are paying 10 cents a sell. Yes Bit coin is very volatile but that can also work in your favor. I for one would take the Bit Coin for payment in 2021.  if this was 2007 no I would not take it as we all made a lot more money in Stock at that time. Adobe what do you think ? 


« Reply #1 on: February 10, 2021, 11:53 »
+17
Or just take your royalty payment and buy bitcoin?  Am I missing something?

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #2 on: February 10, 2021, 13:08 »
+2
I wouldn't really want to receive Bitcoin as payment, but if Adobe did then that's fine by me. Unless they're planning to hold a long term balance of Bitcoin then they'd have to get rid of them on a daily basis. Otherwise you've got Elon buying a bunch of them and they make 20% in a day... or selling a bunch of them and they've lost 20% in a day.

"From the stock contributor side what do we have to lose when so many stock sites are paying 10 cents a sell."

Well, you'll still going to get the same amount from Adobe whether they accept Bitcoin or not. I'm assuming the prices of items would still be set in Dollars or whatever and the Bitcoins will be converted to match the amount. If they posted prices in Bitcoin then they're going to have to update them every day.

The only way this would make a significant impact to our earnings, is if there's a significant amount of people out there who are not buying stock purely due to Bitcoin not being accepted.

 

« Reply #3 on: February 10, 2021, 13:14 »
+5
With the price of royalties falling from ALL stock sites. Here is a idea that just might make your payments go up. Now before you make fun of me have an open mind to this. I do hope Mat is reading this from Adobe as this would be a first for Adobe and would get them a lot of publicity which might move Adobe Wall Street stock price up. Have an option for payment in Bit Coin. From the stock contributor side what do we have to lose when so many stock sites are paying 10 cents a sell. Yes Bit coin is very volatile but that can also work in your favor. I for one would take the Bit Coin for payment in 2021.  if this was 2007 no I would not take it as we all made a lot more money in Stock at that time. Adobe what do you think ?

As I understand it, that is supposed to be a gamble that's dependable on bitcoin exchange rate? Not sure we need another variable when microstock is already full of them.

« Reply #4 on: February 10, 2021, 13:43 »
+1
Getting paid in a currency that volatile would only make sense if you don't need the money you earn in the near future and in addition to that expect that the bitcoin rate will only go up?! Let's say I earn the equivalent of a thousand dollars in bitcoin this month and by the time I withdraw it to pay my monthly bills the rate has dropped 30% ... Why should anyone want that? If there's money left by the end of the month that can easily be invested in stocks or crypto currencies of my choice.
In addition to that agencies would have to adjust how much get per download literally every minute since they probably wouldn't want to pay you more in bitcoin than they do now in Dollars or Euros.

« Reply #5 on: February 10, 2021, 15:09 »
+2
I'm not sure why it would attract contributors to a major site. I would guess any serious players who don't have an exclusive deal are already signed up with adobe and shutterstock. A new site might attract people though many of us remember the previous ill fated attempt at a Blockchain site.....https://www.wemark.com/.

ShadySue

  • There is a crack in everything
« Reply #6 on: February 10, 2021, 16:52 »
+2
On the opposite side, some people might boycott any site 'aligning with' bitcoin because of its environmental unfriendliness,
https://www.nature.com/articles/s41558-018-0321-8
for which Musk is understandably getting flak as I write:
https://www.reuters.com/article/crypto-currency-tesla-climate/insight-elon-musk-wants-clean-power-but-teslas-carrying-bitcoins-dirty-baggage-idUSL1N2KF1EF
« Last Edit: February 10, 2021, 16:59 by ShadySue »

« Reply #7 on: February 10, 2021, 16:58 »
0
Or just take your royalty payment and buy bitcoin?  Am I missing something?
  Sean you are correct you could buy bitcoin yourself but if it were an option, other form of payment it just would save you a step. With PayPal and Pioneer and the other forms of payment you pay a fee for using their services, Not sure if there would be a fee for Bitcoin. Don't think there would be any international exchange rate fees also.   

« Reply #8 on: February 11, 2021, 09:50 »
+4
I don't understand the enthusiasm for bitcoin.

I would not want it as payment.


Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #9 on: February 11, 2021, 10:48 »
+1
I don't understand the enthusiasm for bitcoin.

I would not want it as payment.

Easy to see why you're onto something. Money, currency, stays relatively the same. Bitcoin fluctuates hourly and daily and there are fees involved for changing it into something that we could spend.

Terribly complicated for agencies as well. How do they pay us? The rate at the minute we cash out? So a photo worth $20 yesterday I'd get paid $16 the next day?

I won't say never, but right now, not a practical solution that would make any sense to offer as an option to artists.

I won't make fun but I will say, how would artists feel about being paid in Silver or Gold? A very similar situation to Bitcoin. You don't really get the item, you just get the value and it's changing all the time. You could pay us in corn futures or sugar and that would be the same as Bitcoin. None are currency they are just virtual value, until changed into something that can be traded for real items.


« Reply #10 on: February 11, 2021, 12:30 »
0
Uncle Pete I like the idea of being paid in gold but hard to ship gold. Yes Bite coin is very risky but as our stock royalties shrink it is  little risk to our bottom line at this point. If bite coin goes up and you don't spend it you might make some real money . Then again if it goes down we lose our sorry photo stock royalties. 

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #11 on: February 11, 2021, 14:27 »
+2
Uncle Pete I like the idea of being paid in gold but hard to ship gold. Yes Bite coin is very risky but as our stock royalties shrink it is  little risk to our bottom line at this point. If bite coin goes up and you don't spend it you might make some real money . Then again if it goes down we lose our sorry photo stock royalties.

Right about the up and down and why that makes the deal unattractive. No actually when people buy and sell gold, silver, corn or sugar (or something like orange juice futures) they don't really take delivery. Just like Bitcoin, which is electronic only, no real coins, commodities are traded. In the end someone will buy things, but the investors have no desire to hold on  to actual bars of gold or soybeans.  :)

I think there are some problems with decentralized cryptocurrencies. The fact that the value fluctuates from hour to hour. There's a risk. Instead of pay, we'd get a lottery ticket of sorts. Also more businesses are taking crypto currency but right now, you can't walk in and buy a pizza at the local restaurant.

No bank will convert coins into cash. You have to open a wallet to receive coins and to cash them in. Plus, when selling, you will need to go to an exchange service and pay a fee. Your "cash" will take 3-5 days to appear on your credit card or your bank account.

While it may be fun or futuristic, crypto coin is not a liquid or reliable as money.

In the end, none of this would make an agency better or more desirable to artists, or not enough to be worth the time and trouble to add coin as a payment option. Maybe in the future this would solve the currency exchange and conversion issues for everyone as there would be only one world value?

« Reply #12 on: February 11, 2021, 15:45 »
0
I've been saying this for ages now but the first stock site that offer instant payments through blockchain is on a winner. You can use a smart contract to receive payment as soon as it's purchased as you'll be able to see who used your media and what license (see if it's done properly).
Bitcoin is not the answer as it's not for payments. But something like ADA or ETH2.0 or even XRP with the FLR network = instant payment. I know it's coming just don't know when.
Because the payment will be instant and on the other end your bank will turn the crypto back into your local currency. It will save so much money on exchange rates too.

For those worried about the volatility then you could get payed in a stablecoin that follows the dollar. But like I said if you use quicker blockchains then the process is instant so it takes the volatility away :)
It's coming folkes

« Last Edit: February 11, 2021, 15:51 by Cider Apple »

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #13 on: February 11, 2021, 16:22 »
+3
What's the benefit to buyers and agencies hough? Paypal and credit cards are instant already so I'm not seeing why anyone would be on to a winner.

« Reply #14 on: February 11, 2021, 16:56 »
0
What's the benefit to buyers and agencies hough? Paypal and credit cards are instant already so I'm not seeing why anyone would be on to a winner.
Because we would get payed per download instantly at very little to no cost at all :)

Payments may seem instant at the moment but they are not. Search nostro vostro.. Banks lend each other money via nostro vostro and it costs us a fortune in transaction fees. Especially cross boarder. No payments are instant at the moment - only crypto. You may think that you have instant payments but your bank has lent that money and it may take days to settle. Sometimes weeks. National banks don't tend to charge as they have partnerships between themselves. But try sending money abroad and it costs a fortune. The banks charge us a fee for this and add interest. Every bank takes some sort of a fee from us. Paypal especially. They hide their fees in the conversion rates but they still take a hefty fee. Crypto will put a stop to all of this.

P.S mastercard is integrating crypto...
https://www.mastercard.com/news/perspectives/2021/why-mastercard-is-bringing-crypto-onto-our-network/

« Last Edit: February 11, 2021, 17:17 by Cider Apple »

« Reply #15 on: February 11, 2021, 17:11 »
0
Seriously when you first get into Crypto its like do you take the blue or red pill. Anyone getting into crypto now I'm a little jealous as its like watching The Game Of Thrones for the first time. What a journey you're going to take if you delve deep enough. Winter is coming :)
« Last Edit: February 11, 2021, 17:18 by Cider Apple »

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #16 on: February 12, 2021, 00:16 »
+1
And what's the benefit to buyers and agencies that we get paid per download instantly at very little to no cost at all?
« Last Edit: February 12, 2021, 00:44 by SpaceStockFootage »


« Reply #17 on: February 12, 2021, 16:59 »
+2
I've been saying this for ages now but the first stock site that offer instant payments through blockchain is on a winner. You can use a smart contract to receive payment as soon as it's purchased as you'll be able to see who used your media and what license (see if it's done properly)....
Because the payment will be instant and on the other end your bank will turn the crypto back into your local currency. It will save so much money on exchange rates too.
...

why would any agency opt for an instant payment when they, like book publishers, movie producers, etc, can legitimately hold money for later payment?

crypto just adds an additional, but not needed, step. 

and no agency would use a system that shows the artist who bot or where it was used

« Reply #18 on: February 14, 2021, 04:54 »
0
And what's the benefit to buyers and agencies that we get paid per download instantly at very little to no cost at all?
Give it a few years and every corporation will pay like this. We will also pay our bills when we use things. Pay gas / electric instantly every second we use it. Pay tax every day etc. It may seem a strange thought now but so did getting into a car for the first time when you were used to a horse. I it will all be done for us with smart contracts so we won't need to do anything.
All the world will be instant payments for everything.

« Reply #19 on: February 14, 2021, 04:56 »
0
I've been saying this for ages now but the first stock site that offer instant payments through blockchain is on a winner. You can use a smart contract to receive payment as soon as it's purchased as you'll be able to see who used your media and what license (see if it's done properly)....
Because the payment will be instant and on the other end your bank will turn the crypto back into your local currency. It will save so much money on exchange rates too.
...

why would any agency opt for an instant payment when they, like book publishers, movie producers, etc, can legitimately hold money for later payment?

crypto just adds an additional, but not needed, step. 

and no agency would use a system that shows the artist who bot or where it was used
Because at some point in the future they won't have a choice  :D

« Reply #20 on: February 14, 2021, 15:59 »
0
With the price of royalties falling from ALL stock sites. Here is a idea that just might make your payments go up. Now before you make fun of me have an open mind to this. I do hope Mat is reading this from Adobe as this would be a first for Adobe and would get them a lot of publicity which might move Adobe Wall Street stock price up. Have an option for payment in Bit Coin. From the stock contributor side what do we have to lose when so many stock sites are paying 10 cents a sell. Yes Bit coin is very volatile but that can also work in your favor. I for one would take the Bit Coin for payment in 2021.  if this was 2007 no I would not take it as we all made a lot more money in Stock at that time. Adobe what do you think ?

Why would this make my payments go up? Why would any agency want to do this?

« Reply #21 on: February 14, 2021, 16:10 »
+1
I've been saying this for ages now but the first stock site that offer instant payments through blockchain is on a winner. You can use a smart contract to receive payment as soon as it's purchased as you'll be able to see who used your media and what license (see if it's done properly)....
Because the payment will be instant and on the other end your bank will turn the crypto back into your local currency. It will save so much money on exchange rates too.
...


why would any agency opt for an instant payment when they, like book publishers, movie producers, etc, can legitimately hold money for later payment?

crypto just adds an additional, but not needed, step. 

and no agency would use a system that shows the artist who bot or where it was used
Because at some point in the future they won't have a choice  :D

so you guess -- but not a real response to the problems i outlined
we're already a near cash-free economy where you know the value of your currency -
  • why would 'everyone' opt for a risky gamble on currency w no fixed value?
  • crypto can work across currencies because there is a fixed rate of exchange - that's no longer true if everyone changes
  • the friction from non-tech folk (ie most people) will slow acceptance
  • your analogy fails because migration to cars took decades (armies were still relying heavily on horses at the start of WWII)
  • why would we want a system that pays our taxes immediately!

-- trivia time:
the Wehrmacht went into the Second World War with 590,000 horses. This meant that while the assault forces were mechanised, the logistics on which they depended were not much different from those of the First World War... the invasion of the Soviet Union required no fewer than 695,000 horses. The mailed fist was mechanised, but the supply train was not. Some of the pictures of the German Army in Russia look like scenes from Wagon Train:
https://www.quora.com/Was-a-great-majority-of-German-army-transport-during-WWII-not-mechanized-and-dependent-on-horses
« Last Edit: February 14, 2021, 16:14 by cascoly »

« Reply #22 on: February 15, 2021, 04:05 »
0
I've been saying this for ages now but the first stock site that offer instant payments through blockchain is on a winner. You can use a smart contract to receive payment as soon as it's purchased as you'll be able to see who used your media and what license (see if it's done properly)....
Because the payment will be instant and on the other end your bank will turn the crypto back into your local currency. It will save so much money on exchange rates too.
...


why would any agency opt for an instant payment when they, like book publishers, movie producers, etc, can legitimately hold money for later payment?

crypto just adds an additional, but not needed, step. 

and no agency would use a system that shows the artist who bot or where it was used
Because at some point in the future they won't have a choice  :D

so you guess -- but not a real response to the problems i outlined
we're already a near cash-free economy where you know the value of your currency -
  • why would 'everyone' opt for a risky gamble on currency w no fixed value?
  • crypto can work across currencies because there is a fixed rate of exchange - that's no longer true if everyone changes
  • the friction from non-tech folk (ie most people) will slow acceptance
  • your analogy fails because migration to cars took decades (armies were still relying heavily on horses at the start of WWII)
  • why would we want a system that pays our taxes immediately!

-- trivia time:
the Wehrmacht went into the Second World War with 590,000 horses. This meant that while the assault forces were mechanised, the logistics on which they depended were not much different from those of the First World War... the invasion of the Soviet Union required no fewer than 695,000 horses. The mailed fist was mechanised, but the supply train was not. Some of the pictures of the German Army in Russia look like scenes from Wagon Train:
https://www.quora.com/Was-a-great-majority-of-German-army-transport-during-WWII-not-mechanized-and-dependent-on-horses

Oh boy where do I start.....
I've been through this so many times and always the same silly arguments.
Look up infinite and finite.
Then search fiat and see what it's backed by - i'll give you a hint. F'all
Crypto's value is in it's tech and speed and by the basis of it's finite and not infinite like fiat.
Currency will always be here. But the backend will be run digitally.
Search on why all central banks are in a rush to create CBDC's and why we need a digital $.
Search on all the major companies now adopting crypto - Mastercard - Tesla - Facebook and many many more.
Search on how technology is speeding up and yet the payments industry is still using 1970's tech (swift)
Search on the internet of things and how our tech will communicate with us easily. ie fridges knowing when you're running low on milk and ordering it for you - paying instantly. Multiply this with everything as that's where our future is heading if you like it or not.

Crypto is being made super easy to use. Some wallets out there even my 94 year old gran could use.

Sorry to sound harsh but do some research man...
« Last Edit: February 15, 2021, 04:22 by Cider Apple »

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #23 on: February 15, 2021, 05:43 »
+3
I've been through this so many times and always the same silly arguments.

Well your answers usually leave something to be desired, so I'm not surprised people still have questions. For example...

Then search fiat and see what it's backed by - i'll give you a hint. F'all

So just like cryptocurrencies then?

Crypto's value is in it's tech and speed and by the basis of it's finite and not infinite like fiat.

It's value may be in that, but that doesn't mean it's backed by anything.

Search on how technology is speeding up and yet the payments industry is still using 1970's tech

If it aint broke, don't fix it. While I agree there may be benefits to cryptos, there's a long way to go before it's as convenient as Paypal and card payments.

Search on the internet of things and how our tech will communicate with us easily. ie fridges knowing when you're running low on milk and ordering it for you - paying instantly.

The Internet of Things was around long before cryptos. Cryptos don't rely on IoT and IoT doesn't rely on cryptos... your fridge could just as easily instantly order milk using Paypal or Visa... and as the majority of retailers don't accept cryptos, you're more likely to find a fridge that can order you stuff using Paypal or your card than you are cryptos. And faster. 

Crypto is being made super easy to use. Some wallets out there even my 94 year old gran could use.

A human having the ability to use something that's pretty much integral to life as we know it (having the ability to purchase things) should be the minimum bar and go without saying, not be something to shout about!

And even if this gives agencies the ability to pay us instantly for people licensing our stock... I'd be highly surprised if they did. You'd probably still get it two to six weeks later. Then you've got the downsides... cost of implementation, five minutes for verification of your transaction (vs 5 seconds or so for Visa/Paypal), lack of any recourse if you get hacked, wallet addresses and passwords that are impossible to remember, volatility of price, uncertainty with regards to future legislation, skyrocketing power usage when it comes to mining etc etc.   


 

Related Topics

  Subject / Started by Replies Last post
20 Replies
6119 Views
Last post June 07, 2008, 17:45
by madelaide
New Idea Exchange

Started by zymmetricaldotcom Zymmetrical.com

0 Replies
2251 Views
Last post June 09, 2009, 13:42
by zymmetricaldotcom
5 Replies
2708 Views
Last post September 11, 2010, 09:05
by Dreamframer
A Unique Idea

Started by WarrenPrice Off Topic

1 Replies
1147 Views
Last post July 28, 2013, 08:47
by Mantis
10 Replies
2268 Views
Last post November 18, 2019, 13:26
by charged

Sponsors

Mega Bundle of 5,900+ Professional Lightroom Presets

Microstock Poll Results

Sponsors

3100 Posing Cards Bundle