Bitcoin Mixer BitMix.Biz Helps Crypto Users Who Value ...

Using Bitcoins

I've been thinking a lot about how to use Bitcoin in this business. It really isn't too difficult and provides a number of advantages.
The basic principle of Bitcoins is that there is a long string of characters called an "address". Anyone who knows an address can send money (in the form of Bitcoins) to that address. Each address has a secret and only the person who knows that secret can send money from that address.
There is no connection between you and the addresses you own, except that you know the secret. If you claim you don't know the secret, nobody can prove the address is yours.
So, let's you have a potential customer who wants you to come meet him. You create a new address just for him and email him back, saying, "Send 0.393 BTC [0.393 bitcoins, about $100] to 17aUCu3LvA2V3f14V3axoFg514EsGR2drU [an address I just made up] today and I will be there tomorrow at 3pm."
What are the advantages of doing this?
  1. if he is a time-waster, he isn't going to send the money, and you'll know to forget about him
  2. if he is a LE, he probably isn't going to send the money -- because he isn't getting it back (no "civil forfeiture" in the online world)
  3. if he is a stalker, he has no information about you: not your name, not your back, not your location, and not who else has done business with you.
  4. with a little notice, anyone can buy Bitcoins and pay by credit-card
  5. if something goes wrong, you can refund the money back to the address where it came from.
  6. you aren't walking around with cash someone could steal or "confiscate".
  7. you don't have to explain your private business to nosy bank managers.
What about the disadvantages?
  1. Not everybody understands Bitcoins; you may have to walk the client through the process.
  2. Some clients may be concerned they will be scammed, since they have no recourse once they send the money.
  3. As you will see, there are some minimal fees involved, and the value of Bitcoins isn't completely stable.
But assuming your client is not an idiot and you have a reasonably good reputation, you will get paid.
How do you spend the money? Easiest way is to get a Visa cash card tied to a Bitcoin address. Here is a list of companies that provide such cards. The card itself cost $10 or $15, and there may be a 0.5% fee for using it (that is 50¢ on $100), but you can use it online or anywhere Visa is accepted. If you need cash, you can go to any ATM; you'll pay a $2 or $3 fee for that though.
You probably don't want to send money straight from the address you set up for the client to the address of the Visa card though. The flow of money from one account to another is easily visible to anyone, so if one customer pays $400 into the address you gave him, then sees the money go to another address, and then on each of the next three days sees $250 flowing into the same address, he's going to figure out that you are charging him more.
Fortunately, there is a service called a "laundry": they obfuscate the trail between the address the customer sent the money to and the one where you actually accumulate your money. The fee for this starts at 0.5%. Here is a good service.
Is this a good idea for you? I haven't the first clue. But it seems plausible.
NOTE: using Bitcoin does not avoid the need to pay taxes on your earnings.
submitted by th_veteran to SexWorkers [link] [comments]

Dutch government agency intends to support the BlockStream roadmap by cutting down blockchain spam

[BitNews:] "DUTCH GOVERNMENT WILL FIGHT AGAINST MONEY LAUNDERING BY BITCOIN"
Moreover, the Het Financieel Dagblad reviews that the FIOD desires to have bitcoin mixers identified as money laundering indicators as well, although it’s doubtful how far this law would reach. It’d follow to centralized mixers like bitmixer.io, which exchange bitcoins for different bitcoins to interrupt the path to any specific piece of currency. However, trustless blending offerings, like the ones website hosting ValueShuffle or TumbleBit servers, may become a target, too.
submitted by jstolfi to Buttcoin [link] [comments]

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BitMex Tutorial - bitcoin futures

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