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You can't really pay your employees or office lease in bitcoin, at some point you will still be interacting with a broker or banking system.
by treesknees 5y ago
You can't really pay your employees or office lease in bitcoin, at some point you will still be interacting with a broker or banking system.
- anm89 5y agoYou don't have to. All you need to do is accept payment in crypto, and convert it immediately to cash. I'm not saying this has no drawbacks,it has a bunch, but it still seems drastically preferable to killing the whole thing.
- treesknees 5y agoThe problem with that is OnlyFans deals with millions of dollars per day (one creator made over $1M in 6 hours [1]). I'm not sure where you could find an exchange that would deal in that much physical cash and not bank transfers or checks. And how would you pay people, you can't mail envelops of $1M cash to someone. The only way I see it working is if they paid creators and employees in bitcoin and switched from AWS to a provider that accepted bitcoin. But you can't pay back investors or pay taxes in bitcoin, so you're still hitting the issue of dealing with a lot of cash. [1] https://www.billboard.com/articles/columns/hip-hop/9550662/bhad-bhabie-earns-1-million-dollars-onlyfans https://www.billboard.com/articles/columns/hip-hop/9550662/b...