aversion to bitcoin

permabulk76

Junior Member
Id like to touch on the subject of bitcoin payment and why people prefer wetern unìon etc . Honest personal opinions encouraged :)bad experiences etc
 
Western Union is just more fun. Who wouldn't want to drive to the bank/ATM, withdraw some cash, find a WU agent, wait in line, fill out forms, give your name to be permanently logged in their database (or give a bogus name and risk losing funds if receiver is blacklisted), return home, email vendor with MTCN and then wait potentially days for the receiver to pick up funds.

Paying with Bitcoin (potentially anonymous) while you're conveniently sitting at your desk placing an order and having receiver instantly receive payment is just too boring.
 

Isaac

Member
The only downside to bitcoin is how unstable the market is.
2 years ago bitcoins were worth over a grand each, 3 years ago they were worth 30 bucks each, now they are worth about $300.
As long as you spend the money quickly then losing value is avoidable.
 

rpbb

Member
AnabolicLab.com Supporter
With operation cj going on, I think more and more sources are going to use it. Hiring a bunch of people to pick up money has to be a nightmare
 

boxcar

Member
I will only use bitcoin, no more wiring money, far to risky these days.

Bitcoin is far more secure, and easier once you know how to do it.
Yes bitcoin prices change, but for the security it comes with is worth the extra 3-10$ extra.
 

Burrr

Member
AnabolicLab.com Supporter
What kind of legal stuff can you buy with bitcoin, just for getting the hang of things?
 

permabulk76

Junior Member
I've set up a business and I've even moved into using dark wallet for more security , but means i have to move small amounts because its unstable
 

ECB

Member
What kind of legal stuff can you buy with bitcoin, just for getting the hang of things?
You don't have to buy anything. Setup a wallet, and send $1 worth of btc to yourself. Same process you would use to send someone else money. They give you a BTC address, you copy/paste it into the "send" feature of your wallet, and it is a done deal.
 

popcorn

Member
I've never had to fill out any forms. Just go to the same location. The first time you go all they need is an ID. After that your in the system and all they ask is your phone number, the name, country and amount. Takes around 2 minutes in and out.
 

popcorn

Member
Countries don't like money going in and out without tariffs and taxes. The government loves regulation and control. The IRS will find a way to tax it. If I buy bitcoins and the value increases, and I make a profit someone will want to prosecute for tax evasion.

Code:
https://www.irs.gov/uac/Newsroom/IRS-Virtual-Currency-Guidance
  • Wages paid to employees using virtual currency are taxable to the employee, must be reported by an employer on a Form W-2, and are subject to federal income tax withholding and payroll taxes.
  • Payments using virtual currency made to independent contractors and other service providers are taxable and self-employment tax rules generally apply. Normally, payers must issue Form 1099.
  • The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer.
  • A payment made using virtual currency is subject to information reporting to the same extent as any other payment made in property.
 

popcorn

Member
All financial institutions want to know when and where money is going. It affects the market and shareholders. If bitcoin becomes big, regulation will follow.
 

D-Ballin

Member
Regulation is already in place for the money transfer services. Common thread with a lot of these new busts.

You are being watched on all fronts. I would rather send from a btc wallet that is only "traceable" back to me via blockchain (or not at all done right), than from an account with my name, address and phone number on it.

Not to mention a lack of handwriting, fingerprints, camera images and witnesses. All things juries understand well. Not so much bitcoin to the average citizen, yet.

Either way, if they take an interest in you, your shit is getting raided. The only thing in question is whether you get to beat it or not.

But most importantly, I don't have to drag my ass to Wal-Mart to waive a goddamned I.D.
 

popcorn

Member
My impression of bitcoin is that it is complicated to trace the money. So it will draw more attention from the Government than if you were to use larger financial institutions. The smartest computer techs in the world work for the government. They will be more interested in bitcoin than someone who uses WU. Why? Terrorists, also human nature. The harder someone tries to hide something the more interested people become. They want to know why. They don't really care what. If your father hides a gun in the house, you get curious and want to look for it. If your father tells you the gun is in the closet and not to touch it, you probably wont. (bad example) but.. if its harder to find, lager smarter people will get involved. The amount of attacks nations are having and people trying to support extremist groups, trying to travel to other countries, nations are on high alert. I see AAS as less important and not a priority. Like you said, if they want to find you they will, but I feel like they are more insulted the trickier you get because they feel like someone is saying "Im smarter than you" and they need to prove you wrong. Just my thoughts, but I need to read up more on bitcoin.
 
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