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.

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/.

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.   

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.

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?

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.

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

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

Quote from: Cider Apple on February 11, 2021, 15:45

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 

Quote from: cascoly on February 12, 2021, 16:59

Quote from: Cider Apple on February 11, 2021, 15:45

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 

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

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.