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Old 8 August 2017, 04:20 AM   #1
gabrielnovar
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Anyone accept Bitcoin/Litecoin for payments?

haven't see many advertise that and seems like more volume would occur if they did.

Sorry if this is the wrong section, I didn't want to clutter the classifieds.
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Old 8 August 2017, 04:27 AM   #2
OliveSales
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I do accept BTC/ETH/LTC.

I doubt many people on TRF will accept crypto. I made a thread about it two months ago and all the super veteran millionaire investors here made sure to let me know it's a scam and it's going to be worth 90cents on the dollar.
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Old 8 August 2017, 05:39 AM   #3
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The only ones I know who do have set things up so that it is immediately exchanged into a less volatile currency. Bitcoin is still much to volatile to keep when running a business so the price on things in Bitcoin is what they are quoted in that moment from their exchange.
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Old 8 August 2017, 05:53 AM   #4
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I only invest, or accept currencies, that I understand very well. So, no, not for me.
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Old 8 August 2017, 08:21 AM   #5
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I do accept BTC/ETH/LTC.

I doubt many people on TRF will accept crypto. I made a thread about it two months ago and all the super veteran millionaire investors here made sure to let me know it's a scam and it's going to be worth 90cents on the dollar.
Some people aren't in a position to accept a currency that goes up and down by 20% a day.

It doesn't mean they are doubting your (hind-sighted) wisdom, just means they do not want the risk.

Just a bit of advice but I think a bit of humility in your case would go a long way.
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Old 8 August 2017, 08:36 AM   #6
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Some people aren't in a position to accept a currency that goes up and down by 20% a day.

It doesn't mean they are doubting your (hind-sighted) wisdom, just means they do not want the risk.

Just a bit of advice but I think a bit of humility in your case would go a long way.
What risk? Every company who accepts crypto-currency automatically have it converted to USD (assuming its a US based company). You are not supposed to store the coins if you are using it for business purposes.

Accepting crypto is more secure than a credit card transaction (for seller) and is quicker than a bank wire. Not to mention no 3% credit card fee or 30$ wire fee both ways.

Quick 5 minute read to learn its use will go a long way as well :)
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Old 8 August 2017, 08:42 AM   #7
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This is starting to read like an infomercial.
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Old 8 August 2017, 08:43 AM   #8
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...and an interesting first post without followup by the OP?
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Old 8 August 2017, 09:11 AM   #9
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Here we go again.

One user controls the price of btc. His name is floppy. He can crash or pump the entire market. It's prob a hedge fund.
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Old 8 August 2017, 09:17 AM   #10
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Here we go again.

One user controls the price of btc. His name is floppy. He can crash or pump the entire market. It's prob a hedge fund.
lol is that a joke or for real? A guy named floppy owns the market?
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Old 8 August 2017, 09:17 AM   #11
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I'd like to invest in Bitcoin. I've wanted for a while. I'm just too chicken.

For the same reason, is not accept it in payment.
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Old 8 August 2017, 09:40 AM   #12
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lol is that a joke or for real? A guy named floppy owns the market?
Auto correct. His name is spoofy.
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Old 8 August 2017, 10:13 AM   #13
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Here we go again.

One user controls the price of btc. His name is floppy. He can crash or pump the entire market. It's prob a hedge fund.
This is why I will not get involved in crypto currency.

Here's the article about it:

http://www.zerohedge.com/news/2017-0...-bitcoin-price
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Old 9 August 2017, 01:56 AM   #14
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lol i'm here guys...just wondering because I would feel safer sending bitcoin vs wire/paypal etc.

The reason I bring this up, is I am in the position to potentially buy and would prefer using bitcoin/litecoin because of the ease of use and instant confirmation that someone received it etc. (and verified).


If you are worried about the price swings you can instantly convert to USD I suppose. 100 billion dollar market isn't exactly small


edit: not pumping Bitcoin but I am starting see more and more adopt it....Overstock.com is doing it soon walmart and amazon rumored to be looking @ it now.
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Old 9 August 2017, 02:01 AM   #15
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Originally Posted by gabrielnovar View Post
lol i'm here guys...just wondering because I would feel safer sending bitcoin vs wire/paypal etc.

The reason I bring this up, is I am in the position to potentially buy and would prefer using bitcoin/litecoin because of the ease of use and instant confirmation that someone received it etc. (and verified).


If you are worried about the price swings you can instantly convert to USD I suppose. 100 billion dollar market isn't exactly small


edit: not pumping Bitcoin but I am starting see more and more adopt it....Overstock.com is doing it soon walmart and amazon rumored to be looking @ it now.

Curious, how exactly is it safer for the buyer?
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Old 9 August 2017, 02:03 AM   #16
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Curious, how exactly is it safer for the buyer?
Litecoin takes a minute or two..low fees (probably pennies for litecoin) and transactions can't be reversed etc.

Banks have fees most of the time too, I get charged like 25-75 for Wire transfers..

Also as I mentioned wires aren't exactly instant...they do take some time.

Lots of pros. The hardest part is setting up a wallet/understanding it I guess
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Old 9 August 2017, 02:30 AM   #17
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Litecoin takes a minute or two..low fees (probably pennies for litecoin) and transactions can't be reversed etc.

Banks have fees most of the time too, I get charged like 25-75 for Wire transfers..

Also as I mentioned wires aren't exactly instant...they do take some time.

Lots of pros. The hardest part is setting up a wallet/understanding it I guess
Yeah, I'm pretty stoopid. But if you could just explain it one more time slowly-- how exactly are the reasons you referenced above safer for the buyer?
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Old 9 August 2017, 02:35 AM   #18
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Yeah, I'm pretty stoopid. But if you could just explain it one more time slowly-- how exactly are the reasons you referenced above safer for the buyer?
It is not any riskier for the buyer than a wire transfer. The buyer has no recourse.

In reality a bunch of people who made quick cash in these coins want to move their gains into tangible assets instead of putting them into a bank account to avoid taxes.

JPS
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Old 9 August 2017, 02:38 AM   #19
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Yeah, I'm pretty stoopid. But if you could just explain it one more time slowly-- how exactly are the reasons you referenced above safer for the buyer?
It is pretty much the same thing as wiring a payment.

Crypto transaction will be Sender > Receiver.

In this scenario you will pay a small fee (cents) to the miners to confirm the transaction (within minutes). You will have a live update on how many confirmations your transaction has and how many confirmations it will need for the transaction to be complete.


Wire transaction will be Sender > Senders Bank > Receivers Bank> Receiver.

Depending on the amount and if it's international you may have to answer to your government as well.

In this scenario you will pay a fee of 25$ to 75$ to the bank. You will also have to wait till it arrives with no real estimate of when it will arrive to your bank account. Send Friday wait till Monday?


As a buyer who is sending money. You won't be able to chargeback just like a bank wire.
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Old 9 August 2017, 02:38 AM   #20
Tony64
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lol i'm here guys...just wondering because I would feel safer sending bitcoin vs wire/paypal etc.
The reason I ask is that we have frequent discussions/concerns here about the safety of sending money by wire, and many sellers won't take PayPal.

If Bitcoin is really safer to send, I'm sure we'd all be interested.

Thanks in advance.
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Old 9 August 2017, 02:41 AM   #21
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It is not any riskier for the buyer than a wire transfer. The buyer has no recourse.

In reality a bunch of people who made quick cash in these coins want to move their gains into tangible assets instead of putting them into a bank account to avoid taxes.

JPS
That part I understand. I was asking for clarification as to how it was safer for the buyer than a wire?
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Old 9 August 2017, 02:46 AM   #22
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It is pretty much the same thing as wiring a payment.

Crypto transaction will be Sender > Receiver.

In this scenario you will pay a small fee (cents) to the miners to confirm the transaction (within minutes). You will have a live update on how many confirmations your transaction has and how many confirmations it will need for the transaction to be complete.


Wire transaction will be Sender > Senders Bank > Receivers Bank> Receiver.

Depending on the amount and if it's international you may have to answer to your government as well.

In this scenario you will pay a fee of 25$ to 75$ to the bank. You will also have to wait till it arrives with no real estimate of when it will arrive to your bank account. Send Friday wait till Monday?


As a buyer who is sending money. You won't be able to chargeback just like a bank wire.

So to be clear, do you also agree with gabrielnovar, that it's safer sending bitcoin vs wire/ PayPal ?

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Old 9 August 2017, 02:54 AM   #23
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So to be clear, do you also agree with gabrielnovar, that it's safer sending bitcoin vs wire/ PayPal ?

I stopped using PayPal LONG time ago. PayPal has access to your funds more than you do. There are countless times where PayPal will take the funds from an account and not release for 6+ months time. PayPal will most likely be useless in the next decade. I prefer not to wire but crypto is still in the baby stages and has not been adopted by the mainstream yet. I see more watch dealers starting to talk about bitcoin and interested in the concept of it.

The reason why crypto is also safer is because it is decentralized, meaning no information on that transaction will be tracked by banks, government, and whoever else has access to your information.

I don't like the idea of when I send money that the bank knows who i'm sending it to, why i'm sending it, where i'm sending it to, what the money is being used for, and whatever else they track. Specially when the government also has access to this information.


Crypto might not be "safer" when it comes to the buyer getting their money back, but it is definitely safer when it comes to information security.
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Old 9 August 2017, 02:57 AM   #24
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I stopped using PayPal LONG time ago. PayPal has access to your funds more than you do. There are countless times where PayPal will take the funds from an account and not release for 6+ months time. PayPal will most likely be useless in the next decade. I prefer not to wire but crypto is still in the baby stages and has not been adopted by the mainstream yet. I see more watch dealers starting to talk about bitcoin and interested in the concept of it.

The reason why crypto is also safer is because it is decentralized, meaning no information on that transaction will be tracked by banks, government, and whoever else has access to your information.

I don't like the idea of when I send money that the bank knows who i'm sending it to, why i'm sending it, where i'm sending it to, what the money is being used for, and whatever else they track. Specially when the government also has access to this information.


Crypto might not be "safer" when it comes to the buyer getting their money back, but it is definitely safer when it comes to information security.
Now I'm beginning to better understand the motivation. Thanks
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Old 9 August 2017, 03:14 AM   #25
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That part I understand. I was asking for clarification as to how it was safer for the buyer than a wire?
Well I guess you control your funds vs a bank....

also a wire is usually 1 day...vs just about instant (minutes) and you don't have to release any private account info. Just your public key to accept a bitcoin.

yeah also a bank can shut down your account if they feel its fraud. Say you sold a rolex for 20k on paypal they can freeze it and who knows how long you will take to get it back if at all.
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Old 9 August 2017, 03:15 AM   #26
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Now I'm beginning to better understand the motivation. Thanks

yeah education is the main part. lets be serious I use credit cards etc..but was wondering why someone wouldn't want instant access to their funds and not have to worry about paypal or a third party putting a freeze on their account especially when dealing with large transactions for a rolex.
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Old 9 August 2017, 04:10 AM   #27
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Well I guess you control your funds vs a bank....

also a wire is usually 1 day...vs just about instant (minutes) and you don't have to release any private account info. Just your public key to accept a bitcoin.

yeah also a bank can shut down your account if they feel its fraud. Say you sold a rolex for 20k on paypal they can freeze it and who knows how long you will take to get it back if at all.
I appreciate your insight, but with respect to safety, when purchasing from an online seller my bank is hardly on my list of concerns.

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Old 9 August 2017, 04:13 AM   #28
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I'm getting the feeling that buyer safety isn't really the main selling point with bitcoin. The ability to conduct a clandestine transaction seems more plausible. That's just not of any real benefit/interest to me - but perhaps it is for other members.
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Old 9 August 2017, 05:53 AM   #29
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I'm getting the feeling that buyer safety isn't really the main selling point with bitcoin. The ability to conduct a clandestine transaction seems more plausible. That's just not of any real benefit/interest to me - but perhaps it is for other members.
No question that's how the stuff got off the ground. Payment for illegal activity.
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Old 10 August 2017, 02:11 AM   #30
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No question that's how the stuff got off the ground. Payment for illegal activity.
well somewhat true and the reason why hackers demand bitcoin but its the most advanced form of payment we have ever seen. cash/everything else is getting outdated with the technology boom.


edit: also the main tech behind it incase anyone is curious is not really payment. Say you receive a rolex auth card...how do you know its real? I can make one and sign it, if you received a QR code with blockchain tech you would be able to verify in minutes whether or not its a real card that has been issued by rolex or not...

so it does stop fraud too
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