International work. I would use this to find freelancers and be able to easily make payments regardless of where the worker was based. I am in the UK so it opens up access to other workforces, plus making paymets to those foreign
Workers would be simplified.
Exactly. There are countries (Ukraine, Belarus) where PayPal does not allow to withdraw funds (due to stupid local tax code and government regulation of foreign currency) but BitCoins are transferrable freely.
Actually the whole story is not about taxation. Local government wants to control and supervise all people's money. For example, for each incoming payment (wire transfer) they require a piece of paper with ink seal of the sender, date, amount, and account numbers of both parties. If any of these attributes does not match bank transaction data, then you've got a fine. Every local law in this area is made in such way that local workforce is isolated from global market, underpayed, underemployed and kept politically loyal.
So, bitcoins are a like breath of fresh air here. They bypass traditional banking system, controlled by corrupt local authorities.
Once you have bitcoins in a wallet (and internet connection) you can send them to ANYONE in the world with a bitcoin wallet. It can't be more simple. And getting a wallet or wallet service is easy.
You also not need to read and agree to new terms of service every few months (how many people actually read them?). No need to worry you're account will be blocked, that the payment service will stop working and so on.
My paypal account was blocked and the money confiscated for fairly arbitrary reasons.
I opened a new account in a new country because paypal wouldn't allow me to change my address and a site wouldn't deliver to an address other than the paypal address.
Comments
International work. I would use this to find freelancers and be able to easily make payments regardless of where the worker was based. I am in the UK so it opens up access to other workforces, plus making paymets to those foreign Workers would be simplified.
Exactly. There are countries (Ukraine, Belarus) where PayPal does not allow to withdraw funds (due to stupid local tax code and government regulation of foreign currency) but BitCoins are transferrable freely.
Actually the whole story is not about taxation. Local government wants to control and supervise all people's money. For example, for each incoming payment (wire transfer) they require a piece of paper with ink seal of the sender, date, amount, and account numbers of both parties. If any of these attributes does not match bank transaction data, then you've got a fine. Every local law in this area is made in such way that local workforce is isolated from global market, underpayed, underemployed and kept politically loyal.
So, bitcoins are a like breath of fresh air here. They bypass traditional banking system, controlled by corrupt local authorities.
In what way is it really simpler than paypal or some other webwallet?
Once you have bitcoins in a wallet (and internet connection) you can send them to ANYONE in the world with a bitcoin wallet. It can't be more simple. And getting a wallet or wallet service is easy.
You also not need to read and agree to new terms of service every few months (how many people actually read them?). No need to worry you're account will be blocked, that the payment service will stop working and so on.
In a situation like this the terms of service will not affect you, your account will not be blocked and the payment service will not stop working.
People keep forgetting that the overwhelming majority of all eBay payments are done using Paypal.
My paypal account was blocked and the money confiscated for fairly arbitrary reasons.
I opened a new account in a new country because paypal wouldn't allow me to change my address and a site wouldn't deliver to an address other than the paypal address.