| Pages in topic: < [1 2 3 4] > | Bitcoin for Translators - Why Not? Thread poster: OG Pete
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OG Pete 
United States
Russian to English
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TOPIC STARTER | starting to get it | May 8, 2013 |
John Fossey wrote:
Петро wrote:
John Fossey wrote:
Both the IRS (US) and CRA (Canada) have set their sights on tax issues relating to Bitcoins so be careful. CRA considers payments in Bitcoins to be bartering (paying for something in goods instead of currency) which can get complicated. Expect to see more about this.
Thanks, @John. Yes that does sound complicated. Let's stay tuned.
I suspect that profits generated by a rise in Bitcoin value could be subject to capital gains tax, while a drop in value could trigger impairment rules. Sounds like there's good business ahead for accountants.
Sounds right. I guess the same applies for foreign currency - something most of us are already used to
I think I'm starting to get it
| | | | John Fossey
Canada
Local time: 13:10
Member (2008)
French to English
+ ...
| Bitcoins and banks | May 14, 2013 |
Interesting article about Bitcoins:
http://stratrisks.com/geostrat/12491
Especially the last sentence:
"In recent weeks businesses using bitcoin in the US and Canada have had their bank accounts shut down, pointing to nervousness by the banks about the rise of the digital currency."
| | | | | I would definitely accept bitcoins as payment for translation | May 16, 2013 |
A lot of misunderstandings and misconceptions have been floating around and are still being heard and published on Bitcoin. The subject is actually worth studying though, as it is an amazing technology that handsomely resolves certain problems that have never been resolved on Earth to date.
If you are interesting in studying bitcoin, there's a great free course on bitcoin on www.udemy.com.
... See more A lot of misunderstandings and misconceptions have been floating around and are still being heard and published on Bitcoin. The subject is actually worth studying though, as it is an amazing technology that handsomely resolves certain problems that have never been resolved on Earth to date.
If you are interesting in studying bitcoin, there's a great free course on bitcoin on www.udemy.com.
Translators who live in countries where Paypal is either not available or of limited use, or where banks fees are high will (eventually) find Bitcoin quite attractive. As for outsourcers, being able to send small payments abroad instantly with virtually no fees is also something worth looking into.
If you are pretty good with computers and you take certain basic precautions such as having an up-to-date antivirus software, keeping regular backups of your local bitcoin wallet, being wary of internet and email scams and having decently secure passwords, then I'd say your money is quite safe in your local bitcoin wallet. If you store larger amounts of bitcoins, there are other more secure precautions you can take, although there are some technical complexities that need to be understood before you can be really safe.
Bitcoin can also be a great investment. I've put some of my savings in bitcoins 10 months ago and it has worked out quite well for me.
For those who are concerned about variations in the exchange rate, they should agree to a price in dollars or euros to be converted to bitcoins on the payment date. That being said, as the value of the bitcoin is expected to appreciate considerably in the next few years, it might be a good idea to save a few bitcoins for later.
As for taxes, in the UK where I live, tax authorities do not yet consider bitcoins as actual money, so they only requires you to declare the income you make by cashing out (exchanging) your bitcoins to a traditional currency, so if you save some for later, there is nothing to pay on those until you cash them out.
Some of us feel they have paid way to much money to banks over the years, and are concerned that their savings will not be worth much in the future because of reckless manipulations of our currencies by criminal bankers and stupid or corrupt governments, so I'd say a money system that actually bypasses the fat cats, the profiteers and the corrupt politicians is something worth looking into and supporting. ▲ Collapse
| | | | Geremia
United States
Local time: 11:10
Italian to English
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OG Pete
United States
Russian to English
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TOPIC STARTER | Great Articles! | May 26, 2013 |
John Fossey wrote:
Interesting article about Bitcoins:
http://stratrisks.com/geostrat/12491
Especially the last sentence:
"In recent weeks businesses using bitcoin in the US and Canada have had their bank accounts shut down, pointing to nervousness by the banks about the rise of the digital currency."
Maybe they're referring to exchanges? Great article!
Patrick Lemaire wrote:
For those who are concerned about variations in the exchange rate, they should agree to a price in dollars or euros to be converted to bitcoins on the payment date. That being said, as the value of the bitcoin is expected to appreciate considerably in the next few years, it might be a good idea to save a few bitcoins for later.
Great post and great idea!
Thanks! I learned a lot.
| | | | | OK here I go | May 26, 2013 |
I went ahead and listed Bitcoin as accepted on my website and in my ProZ profile. On the website, I added the following note: "(by special agreement, small jobs only)".
Let's see what comes out of it. (Not that I expect a Bitcoin customer to surface anytime soon — the system is too young...)
| | | | OG Pete
United States
Russian to English
+ ...
TOPIC STARTER
Artem Vakhitov wrote:
I went ahead and listed Bitcoin as accepted on my website and in my ProZ profile. On the website, I added the following note: "(by special agreement, small jobs only)".
Let's see what comes out of it. (Not that I expect a Bitcoin customer to surface anytime soon — the system is too young...)
I added it to my profile too - now to find our first bitcoin customers
I think there are sites where people accepting bitcoins for services can list themselves. Now to find them
| | | | Karel Kosman
Czech Republic
Local time: 19:10
Czech to English
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| how humanity can free itself from the Rothschild controlled central banks | Jun 29, 2013 |
I'm totally for the concept and have started setting up ads on bitcoin classified work sites. Sure, small jobs, take the risk, on the side, but I love the concept because it can break us free from the current system of 1% control. Expect that they will eventually sever the ties with current fiat currencies, but doesn't matter. Trade within bitcoin and fiat currencies separately. don't pay ridiculous transfer costs between the two and treat them as separate markets. It's a billion dollar strong n... See more I'm totally for the concept and have started setting up ads on bitcoin classified work sites. Sure, small jobs, take the risk, on the side, but I love the concept because it can break us free from the current system of 1% control. Expect that they will eventually sever the ties with current fiat currencies, but doesn't matter. Trade within bitcoin and fiat currencies separately. don't pay ridiculous transfer costs between the two and treat them as separate markets. It's a billion dollar strong now, and good to support it. For example, you earn some bitcoin with work, a friend needs some web design, you use your bitcoin to hire someone, your friend pays you cash. Simple. ▲ Collapse
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Hans Geluk
Spain
Local time: 19:10
Member (2013)
Spanish to Dutch
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| Bitcoin boom. Becoming mainstream? | Nov 23, 2013 |
This discussion has been silent for some 5 months now, but in the meantime Bitcoin is living another boom, soaring from 200$ to 800$ in less than a month. One might question if this is just another tulipomania or if it is the final breakthrough of the digital currency. Will it consolidate as a mainstream payment method just as PayPal?
What does this mean for us as translators? We are typically doing business in an international environment and it may make our lives a lot easier. Th... See more This discussion has been silent for some 5 months now, but in the meantime Bitcoin is living another boom, soaring from 200$ to 800$ in less than a month. One might question if this is just another tulipomania or if it is the final breakthrough of the digital currency. Will it consolidate as a mainstream payment method just as PayPal?
What does this mean for us as translators? We are typically doing business in an international environment and it may make our lives a lot easier. Those who are happy with wire transfers may be seen in a couple of years as people who rather wait for the bank to open than using the ATM!
Any success stories on here? I have added Bitcoin as accepted payment method on my profile but I yet have to take my first BTC payment... Those who accepted Bitcoin back in May, are you rich by now?
 
Bitcoin: silver or gold? ▲ Collapse
| | | | Tom in London
United Kingdom
Local time: 18:10
Member (2008)
Italian to English
ExScientiaVera wrote:
Without a government to force its value, Bitcoin is at risk of abandonment, but it is not unlike currency in current circulation in how it is created. By limiting the amount of Bitcoins that will ever be on the market, the value of the Bitcoin will reflect the resources put into mining a Bitcoin. At some point, the maximum amount of Bitcoins will be reached, and Bitcoins will loose all value. The only alternative is to either create new Bitcoins or destroy existing Bitcoins.
For a translator, I would call it a sound investment, once the value has stabilized, but you can also take a chance now and accept some Bitcoins as a gamble.
You mean "lose", not "loose".
| | | | Tom in London
United Kingdom
Local time: 18:10
Member (2008)
Italian to English
Karel Kosman wrote:
I'm totally for the concept and have started setting up ads on bitcoin classified work sites. Sure, small jobs, take the risk, on the side, but I love the concept because it can break us free from the current system of 1% control. Expect that they will eventually sever the ties with current fiat currencies, but doesn't matter. Trade within bitcoin and fiat currencies separately. don't pay ridiculous transfer costs between the two and treat them as separate markets. It's a billion dollar strong now, and good to support it. For example, you earn some bitcoin with work, a friend needs some web design, you use your bitcoin to hire someone, your friend pays you cash. Simple.
What exactly do you mean by "Rothschild controlled central banks" ?
[Edited at 2013-11-23 19:12 GMT]
| | | | Ty Kendall
United Kingdom
Local time: 18:10
Hebrew to English
| Sounds to me like.... | Nov 23, 2013 |
Tom in London wrote:
Karel Kosman wrote:
I'm totally for the concept and have started setting up ads on bitcoin classified work sites. Sure, small jobs, take the risk, on the side, but I love the concept because it can break us free from the current system of 1% control. Expect that they will eventually sever the ties with current fiat currencies, but doesn't matter. Trade within bitcoin and fiat currencies separately. don't pay ridiculous transfer costs between the two and treat them as separate markets. It's a billion dollar strong now, and good to support it. For example, you earn some bitcoin with work, a friend needs some web design, you use your bitcoin to hire someone, your friend pays you cash. Simple.
What exactly do you mean by "Rothschild controlled central banks" ? [Edited at 2013-11-23 19:12 GMT]
...your standard anti-Semitic "Jews rule the world" conspiracy theory.
"Various conspiracy theories have been advanced regarding Jews and banking, including the myth that world banking is dominated by the Rothschild family"
http://en.wikipedia.org/wiki/List_of_conspiracy_theories#Antisemitic_conspiracy_theories
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OG Pete
United States
Russian to English
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TOPIC STARTER | getting there :) | Nov 24, 2013 |
Hans Geluk wrote:
This discussion has been silent for some 5 months now, but in the meantime Bitcoin is living another boom, soaring from 200$ to 800$ in less than a month. One might question if this is just another tulipomania or if it is the final breakthrough of the digital currency. Will it consolidate as a mainstream payment method just as PayPal?
What does this mean for us as translators? We are typically doing business in an international environment and it may make our lives a lot easier. Those who are happy with wire transfers may be seen in a couple of years as people who rather wait for the bank to open than using the ATM!
Any success stories on here? I have added Bitcoin as accepted payment method on my profile but I yet have to take my first BTC payment... Those who accepted Bitcoin back in May, are you rich by now?
Bitcoin: silver or gold?
see how practical my posts are? how high do you think it will go by new year's eve? sell now and consolidate, or hold?!
| | | | | now accepting bitcoins | Nov 26, 2013 |
I'm another fellow translator who is now accepting Bitcoins!
Let's see how it goes. Besides that I'm also open to other alternative ways of payment, including bartering of goods and services.
Anyone who is actually being paid via Bitcoin or other way and would like to share the experience?
| | | | Leo Young
China
Local time: 02:10
English to Chinese
+ ...
| Great Experiment | Nov 27, 2013 |
Bitcoin and Litecoin are going crazy this month.
I am not sure how high they are going. Technically, I agree that they are great experiment since the birth of Internet. Thinking that how high the transfer fees are collected by banks and Paypal, and how sloooow. I usually get 1K dollars by paying more than 30 bucks.
Imagining that receiving crypto-currency depending on current exchange (Sadly, they are so volatile currently), how quick it would be, just double click. ... See more Bitcoin and Litecoin are going crazy this month.
I am not sure how high they are going. Technically, I agree that they are great experiment since the birth of Internet. Thinking that how high the transfer fees are collected by banks and Paypal, and how sloooow. I usually get 1K dollars by paying more than 30 bucks.
Imagining that receiving crypto-currency depending on current exchange (Sadly, they are so volatile currently), how quick it would be, just double click. I mean that crypto-currency is very efficient, especially for international trade.
There will be another hearing in US Congress for Crypto-currency. The destiny of Bitcoin and other counterparts may be decided at that time.
Although the uncertainty, I'd rather to accept Crypto-currencies.
[修改时间: 2013-11-27 17:41 GMT]
[修改时间: 2013-11-27 17:45 GMT]
[修改时间: 2013-11-27 17:46 GMT] ▲ Collapse
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