Fintech for sex workers

[sparkus]

External Link/Members Only

Always nice when punting and work coincide among my interests but the article does cross-reference any number of discussions we've had on here.

[sparkus]

It's obviously pie in the sky/laden with pitfalls to even envisage any initial/one off transaction to take place without cold hard cash.

But I can see the appeal of a closed anon wallet-based app for transactions with regulars where both parties wouldn't have any reason to doubt it.

[zushiboys]

glad we haven't been paying them with crypto, with the recent BTC rise they would all be retired 

[Hobbit]

glad we haven't been paying them with crypto, with the recent BTC rise they would all be retired 

Unlikely, most hookers would have blown the money before it even hit their pockets. 

[sparkus]

Some questions remain about Sergei (great name for an app btw)...

[Mr Sinister]

It's obviously pie in the sky/laden with pitfalls to even envisage any initial/one off transaction to take place without cold hard cash.

But I can see the appeal of a closed anon wallet-based app for transactions with regulars where both parties wouldn't have any reason to doubt it.

It's the future for sure and may happen one day with crypto most likely in regulated markets like Netherlands, but it's all very traceable not sure the comfortable level punters would be with that, wgs would probably get taxed once the hrmc got a sniff of it. In the nordic countries people use Swish and Mobilepay for everyday use.

Cash works better for now, easier to settle disputes too.

[Payyourwaymate]

Cryptocurrency unfortunately is not truly anonymous. If the state (government) wants to get you or a hired tracer, they will. Even if you put your crypto through a mixer for added layers of anonymity and privacy, it would be way too much hassle just to pay for sex. Cash will always be the best bet.

[vindici]

Cryptocurrency unfortunately is not truly anonymous. If the state (government) wants to get you or a hired tracer, they will. Even if you put your crypto through a mixer for added layers of anonymity and privacy, it would be way too much hassle just to pay for sex. Cash will always be the best bet.

Even if you pay with Monero or zCash? Do you mean that there are no anonymous cryptocurrencies? Bitcoin is not anonymous by design, but some others are supposed to be.

[s0whatsnew?]

Cryptocurrency unfortunately is not truly anonymous. If the state (government) wants to get you or a hired tracer, they will. Even if you put your crypto through a mixer for added layers of anonymity and privacy, it would be way too much hassle just to pay for sex. Cash will always be the best bet.

I'd go so far as to say that the 'anonymity'  of bitcoin is a complete con.  Its designed to be the opposite of anonymous, albeit time-consuming, to trace a specific transaction to the 2x IP's involved.

[bops909]

Unlikely, most hookers would have blown the money before it even hit their pockets. 

It all depends on the WG - some of them have good heads for business as well as other skills !

[Payyourwaymate]

Even if you pay with Monero or zCash? Do you mean that there are no anonymous cryptocurrencies? Bitcoin is not anonymous by design, but some others are supposed to be.

I completely forgot about Monero, I was thinking of bitcoin when I said cryptocurrencies, silly me  .

[bops909]

It's obviously pie in the sky/laden with pitfalls to even envisage any initial/one off transaction to take place without cold hard cash.

But I can see the appeal of a closed anon wallet-based app for transactions with regulars where both parties wouldn't have any reason to doubt it.

If we look at what alternatives criminals use in other contexts, there's quite a lot of interest in gift cards, especially Amazon.

Given the vast range of things you can buy on there (like just about anything that's not a car or a house)  it's probably a viable option.

Facebook is opening up Whatsapp and Instagram to allow financial transactions so that might become more of an option too.