A move to Crypto

[RuffLeatherPig]

It would be great to see this group move to transacting in Crypto currency. There are many coins out there that are not as e pensive as Bitcoin and facilitate transactions between client & provider. I would be delighted to see us using the crypto space to create secure and encrypted transactions.

[CalTec]

Hey, I agree completely, however I believe it is still early for many who have been using cash and will require a much more simplified UX/UI.

What types of crypto projects were you excited to see paired with this industry?

[RuffLeatherPig]

I really am into Cardano and think the low price can make it easy to transact

[+ DynamicUno]

It's an interesting idea, I'm sure some providers have looked into it. One benefit for providers is that crypto transactions can't be easily reversed like a credit card payment. I'm guessing the bigger challenge would be dealing with the proliferation of different crypto currencies and volatile exchange rates. If you agree on a rate in USD for a session in advance, do you confirm the exchange rate the day of session?

[CalTec]

I really am into Cardano and think the low price can make it easy to transact

 

That is one that seems to have some serious potential long-term. Once their SC's roll out with Alonzo HFC, things will be possible.

 

On SC's in general, they would make transactions and specifically cancellations, tips and other specifics pertaining to payments, deposits, etc much easier and transparent for both client and provider.

[CalTec]

It's an interesting idea, I'm sure some providers have looked into it. One benefit for providers is that crypto transactions can't be easily reversed like a credit card payment. I'm guessing the bigger challenge would be dealing with the proliferation of different crypto currencies and volatile exchange rates. If you agree on a rate in USD for a session in advance, do you confirm the exchange rate the day of session?

 

 

One workaround for volatility would be the use of stablecoins for payment. For those uninitiated, it is essentially a token that is pegged to the value of a fiat currency ie USD, EUR, GBP, etc. From there, the provider could do as he/she pleases with it. The only downside would be ERC-20 gas fees, which brings back the option of using an alternative low-fee crypto. I cant stand Ethereum rn.

[HoleTrainer]

I'm so ready for clients in this industry to be ready to move to crypto. On the escort side, a lot of us have been using Bitcoin to pay for our ads for a while already. A client sent me a few hundred dollars worth of Bitcoin as a deposit in 2017 that's worth over 2K now. No complaints on my part!!

[CalTec]

I'm so ready for clients in this industry to be ready to move to crypto. On the escort side, a lot of us have been using Bitcoin to pay for our ads for a while already. A client sent me a few hundred dollars worth of Bitcoin as a deposit in 2017 that's worth over 2K now. No complaints on my part!!

That's awesome, make them gains! ?

[Pulgasari1991]

The only downside would be ERC-20 gas fees, which brings back the option of using an alternative low-fee crypto. I cant stand Ethereum rn.

BEP-20 has various stablecoins such as USDC, USDT, BUSD, etc, on top of a pegged version of the most important assets but the transactions there cost just a few cents. I'd strongly recommend Binance Smartchain for the every-day use.

[Bucky]

For anyone with the balls to have invested so far, the only question now is when to get out.

[Rod Hagen]

Given the negative impact of CC on the environment, I'll pass.

 

https://www.nytimes.com/2021/03/09/business/dealbook/bitcoin-climate-change.html

 

https://www.nature.com/articles/s41558-018-0321-8

[CalTec]

BEP-20 has various stablecoins such as USDC, USDT, BUSD, etc, on top of a pegged version of the most important assets but the transactions there cost just a few cents. I'd strongly recommend Binance Smartchain for the every-day use.

 

BEP-2, BEP-20, different use cases, Binance bridge...personally not a fan of Binance whatsoever. I do see massive potential with Cardano for eventual everyday use. POS for those who read an article and think all crypto is POW and bad for the environment (dive deeper), native multi-asset (means no exorbitant tx fees like with ETH), stablecoins, SC's coming (let's go Alonzo!) and on-chain identity. Also a

worth mentioning.