Bitcoin Forum

I have been receiving BTC payments for writing since 2016 by my two main clients. Only odd amounts of work, but still always been paid in BTC. They have both stopped paying me in Bitcoin as they said the volatility is driving them up the wall using it, and have wanted to go back to PayPal :/

The volatility sucks. I am less bothered about the price but more want it to stop jumping over the place. This is one major issue with adoption.

Can't blame them , having to constantly monitor the amount before sending is a pain in the ass.
Between that and the fluctuating transaction fees , paypal is much easier and less volatile to use.

As long as your amounts have to be converted to fiat equivalent, it will always be a pain.

 

If it's based on usd conversions then they will be paying more based on the amount of bitcoin they give you. If it's a fixed amount of bitcoin then it won't be a problem

They would come back for you if the price of Bitcoin will return to its highs. For now let them go away and find another thing to do while crypto is in bear.

This just shows that the two writing clients are aware that Bitcoin is currently too cheap, and they think it is not cost-effective to pay with Bitcoin now, which means they also recognize the value of Bitcoin.
So you stand in their perspective, this is a good thing, because everyone thinks Bitcoin will appreciate in the future.

Dude,
they think it is shit and don't want to be bothered with it. 

That is not a good thing. Unless you want btc to die from non-use.

Maybe they thinks that bitcoin is an good investments so they starts to hold and dump it when the prices were low,we are still not yet adopted for payment system because of the volatility,we can only use bitcoin when the prices get in to some particular range for long time.If you are looking for bitcoin then convert your money from paypal into bitcoins. :)

be extremely careful with Paypal it has charge back and you may be scammed. you didn't provide any information about who are the people paying you but there are lots of scam cases that you can find online that they made the payment and then scammed the client by taking the money back and Paypal doesn't give a shit about its users.

From your post you have been into cryptocurrency in it before 2016 and should have known by now that the market is volatile and very much affected by little changes and that should not stop any payment because bitcoin has a monetary value

I agree with btyco, the way you get paid and how they manage/arrange payment does matter
it seems you're getting paid fixed $ in BTC amount, so when BTC value decreases they feel paying more
if they bought BTC @ $6,000 and then make a payment today @ $4,000 rate
that costs them essentially 33% more in $ value because of their BTC cost was high

I fully understand why they stopped it. I would have done myself, had the situation been reversed. As writing is a side job for me, I use it as my bitcoin investment and because I like to spend bitcoin and use it for it's intended purpose.

It should hopefully come right, which it will do but the volatility is hindering wider adoption.

I am well aware of the chargeback risks, as I have been working with my clients and always been paid on time I will use PayPal, otherwise i refuse to use PayPal, for exactly that reason I used to list Bitcoin on eBay and wait for people offering to pay through PayPal, then alert the owners of compromised accounts, 99% of the time it was a scammer trying to buy it.

It's just now, it's not permanent this is because of volatility, but when Bitcoin got up or recover the price, I'm sure they will go back, this is not the first time, it happens and it happens every time bitcoin price goes down, this is the problem with volatility.

Do not worry! Soon the market will recover a little and your coyents will pay BTC again. Just now everyone has a panic after that fall.

Bitcoin market price is not stable. Then you have to be careful when you are accepting payment with crypto. Not only Bitcoin but all crypto coins. Prices are fluctating all the time.

I agree with you. High volatility of cryptocurrency is the main reason why huge or even companies are hesitant of accepting or using Bitcoin and other cryptocurrency as means of payment, because they might lose huge money if the market suddenly crash. But we can't do anything about this, because cryptocurrency also works as an investment and trading which creates opportunity to people to make more money. This is also why I think cryptocurrencies will never replace fiat (but can co exist).
Right, but the problem is if his client will buy Bitcoin and hold it until he/she needs to pay him after he finished his work, then there is a chance that the client will lose more if the price dropped before he/she send it to him. And some people don't want that kind of risk just to pay for services. This is why some still prefer using traditional way of paying online.

It is a sure a bummer when the price of bitcoin is at a lower level and right now maybe your clients stop paying you bitcoin because it will surely become a lose for them to give their bitcoin that way, You can not blame them for keeping a decision like that, All you have to do is keep a positive outlook on what is happening right now, The volatility of bitcoin may get even worst as this year end I think all you need to do is just chill and at least they are paying you for your work, They might pay you in bitcoin again when the price certainly recover back.

With this great market loose, unstable conditions and unanswered questions i think they are doing the right think and quit working with bitcoin, return to paypal. And ı am sure that they are not only one company which would do that. If the crush goes on i believe that many of other companies would stop using bitcoin and it would make great danger for all of us..

It is difficult to pay now in Bitcoins, the price changes too quickly and unpredictably. It is necessary to follow the prices every day in order to correctly calculate the necessary amount for payment, and this takes time and nerves.

This sucks to know. As a cryptocurrency writer myself, I would love to get paid in BTC or other cryptocurrencies. But the last dip in prices and the volatility associated with it, I don't think clients will pay using it. Also, if they pay with BTC now, they will need to pay more in BTC for the service because prices have been dropped consistency.

I think your client has done something very right, in my opinion they will hold their bitcoin and sell it when the bitcoin price returns high, if both of your clients still make payments with Bitcoin I am sure you will get a big profit someday ..

This is indeed a major setback in paying you with bitcoin these are issues and challenges faced by using bitcoin as a means of payment as bitcoin is becoming more unpredictable how I wish bitcoin is stable at a high price it could have make payment for purchases easier and swift.

They are just afraid of BT price gaps, don't blame them for that.

This is a positive face, as I understand
They believe Bitcoin is cheap now and its price will rise in the future
And they will not sell Bitcoin currently
I think that's good.

As business owner concerned with turning out profit, there is no way you will be not be concerned with the volatility and I would probably do the same. I also don't have problem with price falling or rising but the frequency that happens is something that calls for concern in that within a week, one could lose a fortune and at the same time within that week you could have made some decent amount but the concern then is, does the cost outweighs the benefit which is largely on the opposite. There is really nothing anyone can do that to keep pushing for mass adoption as that would be the only thing to reduce this to a barest level.

Hmm this is bad news, I also receive payment of some contracts in btc, so far they have not stopped paying me in cryptos, but probably they are also thinking, but I do not think I find another way to receive the payment that is beneficial because PayPal is having many problems with my country lately.

Well another way to look at it is that they're probably trying to stock btcs for  a future run. I mean, they'd let go of a lot of bitcoins if the dollar equivalaent is low and that could be a big amount when btc picks up its pace. Just my two cents 😝

BTC payment has been stopped and you will receive FIAT?

It is no doubt that people will stops sending bitcoin and keep it to hold for a while.
the market is down and bitcoin will start to climb up again.
If they will pay you now in terms of bitcoin then you will earn alot from the future!

Most likely, volatility is really a very important barrier to paying for work bitcoins.If there were a fixed rate, then there would be less problems, and the use of bitcoin would be massive. The best option, I believe, would be to pay 50% of Fiat and 50% of Bitcoin. Personally, I would be pleased with this option.

Bad for them as it has risen well today. But yes the volatility in the last few days is really not to be ignored. Too bad for you, you should suggest a stable coin maybe. When it comes to fees really paypal is not a good option.

Well it has not been easy to receive or send payments to business partners with bitcoin in recent times. The volatility of bitcoin in recent times is so alarming that it makes adoption for business transactions very difficult in many sectors of human endeavor.

Its not a problem anymore. Even I, will accept a payment either in paypal or in bitcoin. As long as I got the payment coming from the work I have been did for them. As usual, your boss will have also loss during the bearish season. Definitely, they will give you btc once the price becomes stable again. As of now, you should be happy because you are earning than others.

The volatility is a huge issue so I can see why your clients have dropped bitcoin as a form of payment, they are not the only ones during the bear market many businesses that were accepting bitcoin have decided to stop accepting it but once the bull market appears we will see many of those people to come back to the market, so for the time begin accept paypal and soon they will be willing to pay you in bitcoin again.

It is hard for someone to pay regular instalments that is denominated in USD of something in a bear market, when prices are dropping across the market.

I honestly think though that in the future, more and more people will be charging their services in Bitcoin that volatility against fiat will become a nonfactor. This will essentially be an exclusively crypto marketplace, if you like. This will in turn reduce volatility even further. Plus, I'd rather still hold bitcoin in the long term compared to fiat, which has shown the tendency to depreciate throughout history.

Also, bitcoin still offers a ton of advantages compared to centralized payment processors, especially for you. You wouldn't need to worry about your employer reversing your payments, there is no chance that a centralized service could ever freeze your funds, etc. If you want, you could always negotiate with your client regarding pricing your services in BTC, or simply asking them to buy BTC with the paypal they've got and send it to you.

Of course, at the moment it is the biggest problem for Bitcoin and cryptocurrency in general, but it seems to me that everything stabilizes after the massive adoption of Bitcoin

in fact this can be found the best solution, namely by paying at the same time exchanging bitcoin in real time, so the use of bitcoin is only to move funds from one wallet to another wallet,
thus, the risk of decreasing asset value can be avoided without having to lose the ease of transactions using bitcoin
today there are many freelancers who are paid using bitcoin, because it is easier and certainly more comfortable
so, we don't have to expect bitcoin to have a stable price

for those who don't like speculation, indeed prefer payment by paypal, because its fixed value. but for people who like to invest, they prefer payment with bitcoin, with hope the value will continue to increase only by hold it.