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Feature Request: Bitcoin payments

mrdanielprice
Community Guru
Daniel P Member Since: Aug 15, 2014
11 of 36

I don't think Upwork will implement payment in Bitcoin anytime soon.

 

In all honestly, if the fees are the main reason you'd really like to see this happen, then maybe you need to increase the price you charge for your work to compensate.

 

When working out what I should charge and/or what price I should settle with, I take into  account any currency conversion fees involved.

 

Upwork takes a 10% service charge? Up your rate by 10%.

 

Your bank charges you a fee to convert foreign currency? Take that fee into account, too. For instance, my bank charges me £5 for conversion under £100, then adds 25p on top of that for each £100 increment.

 

So, let's say I need to earn £250 for a particular job, right? Increase to £275 (10% Upwork fee), then to £280.50.

 

I would need to charge the client £280.50 for me to actually earn £250 in the end.

 

Outside of Upwork, fees related to taking payment via PayPal, for example. All you need to do is figure out how much you're really getting in the end and adjust accordingly to make sure that you getting paid what you need to pay your bills or to make doing the work worth it.

 

As a freelancer, fees that you may incur when getting paid need to be considered when you present your fees to clients. Sure, might be charging them more than you'd like to, but it has to be done.

petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
12 of 36

Gerhard signed up to the forums with the sole purpose of writing 4 (!) spammy messages about Bitcoin...

 

It also appears he is talking about Upwork accepting Bitcoin as a payment method rather than as a withdrawal method.

 

Then the comparison to "Fiverr" finally disqualified the whole argument. Fiverr is hardly a glowing example of a professional marketplace, and regardless of any current issues with the Upwork site, the comparison does not hold water.

 

 

c8ac2ce3
Active Member
Gerhard G Member Since: Sep 28, 2015
13 of 36

Petra,

 

I did not sign up to promote Bitcoin. I signed up to get my project done, if you do a search you'll find my project. I ran into a problem when my paypal funds/account were frozen for an arbitrary reason as it has happened multiple times over the past 10 years. So I looked for other payment methods. I came to the forums to search for a solution and hopefully to use another payment method. Problems like this do not exist with Bitcoin and I would be very happy if Upwork started to accept Bitcoin.

 

Why are you against Bitcoin? **edited for Community Guidelines** Do you like paying fees to paypal and someone controlling your money?

 

Bitcoin is the way to go, you don't leave your money with a third party like Paypal that can arbitrarily block your funds and pay fees out the wazoo. If you like paypal so much and their fees, you can still use paypal, but give people the option to use another payment like Bitcoin as well.

 

Fiverr made the right decision to accept Bitcoin and eventhough it's not as big as Upwork today it's growing exponentnially. When Upwork starts to accept Bitcoin I wouldn't be surprised if their revenue doubles or triples in a short time especially after all of the free publicity it will get from the breakthrough decision.

 

Gerhard

jsutherland
Community Guru
Jean S Member Since: Oct 22, 2007
14 of 36

NOT GOING TO HAPPEN!!

petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
15 of 36

@Gerhard G wrote:

Petra,

 

I did not sign up to promote Bitcoin.


 5 posts, all promoting Bitcoin.

adam25
Active Member
Adam M Member Since: Sep 19, 2015
16 of 36

What do you mean 'promoting bitcoin'?  It's a request, not a promotion.

 

I too have had my accounts frozen by PayPal several times.  When it occurs I have to send a fax to Sydney and then wait an undetermined amount of time.  They do this to make micro-gains on their holdings when they expect the value of the currency to increase. 

 

Here's my scenario regardless:

 

I'm a digital nomad.  I can't open a local bank account because I'm not a citizen.

 

My money goes from Upwork wire transfer -> My home country bank account -> Foreign ATM in my current country.

This assumes the following:

Bank currency selling rate: (based on yesterday's withdrawal): 68c

Bank currency buying rate: 76c.

 

Let's say I transfer $700USD 

Cost of wire transfer: $30USD

Cost of ATM withdrawals for $700USD:  $30USD

 

 

Total loss on currency conversion: $35.

Total loss on withdrawals:  $95

 

If wanting to save myself $95 in nonsense fees which go straight into the banks pockets is 'promoting bitcoin' like you have accused Gerard then please explain how that is a bad thing.

 

Also, if you dont want this feature (I do admit that people are intimidated by it because they don't understand it) then don't use it - it's that simple.  Meanwhile the rest of us can continue working without the banks dipping into our pockets.

 

 

crhysconsulting
Community Guru
Cairenn R Member Since: Aug 19, 2015
17 of 36

We understand it perfectly. It's unsafe. It's a hacker's paradise. There is no regulation, nor protection. The only people secure in Bitcoin is the Founder who remains anonymous and his minions who are collecting your real cash and living well off of it. When they finally decide to cut and run, you have 0 Bitcoins=0 $$.

 

Of course fiverr is using it. 

 

adam25
Active Member
Adam M Member Since: Sep 19, 2015
18 of 36

"When bitcoin shuts down"

 

Bitcoin is a distributed technology, not a company.  The only way for it to shut down would be for every bitcoin holder to agree not to use it anymore or for someone to flick the switch on the internet.

 

What do you think your money is?  It's all 0's and 1's, only 8% of the worlds money is backed by anything of value.  Have you already forgotten what happened in 2008?  

 

It's nice to know your (rather uneducated) opinion of Bitcoin but having it as an option wouldn't effect you in any way at all if you simply don't use it.

 

nopara73
Active Member
Adam F Member Since: Oct 10, 2015
19 of 36

I signed up to Upwork to comment here my spammy message. Or from an other point of view I have found out about Upwork, just because of Bitcoin, and since I don't have any job now and I'm an experienced software developer I'll check out the website, looking for some opportunity. 

About the topic, my opinion is, I don't think they should accept Bitcoin. It doesn't matter how many "aha" moments I had in the last 2-3 years, because of Bitcoin, it doesn't matter how enthusiastic I am about it, if it doesn't use for a company, then don't implement it. And there is absolutely no reason for any company to implement any feature, just because 0.1% of their users would be very happy about it.

However, there are some marketing reasons they could consider, though. For example, it didn't even started to integrate Bitcoin yet, still a small forum post generated conversions and made about a 10 000 more click to their site from their main target audience (enthusiastic geeks, who have no classic 8-hour/day jobs, often involved in some remote-work project: yeah, that's exactly the Bitcoin community).

Anyway, let it be my first post, and if the magic of the site take me with it, many more will follow.

Cheers!

2a6f2b64
Active Member
Matthew C Member Since: Oct 10, 2015
20 of 36

Greetings UpWork,

 

I have created this account specifically to educate the UpWork community on what Bitcoin is, **edited for Community Guidelines**

 

Bitcoin is purely a peer-to-peer decentralized currency (or commodity). Bitcoin is 100% owned by the bearer of that coin. If you have one bitcoin in your wallet, then you are the sole owner of that Bitcoin. Nobody, (not even the creator as mentioned earlier) has access to your Bitcoin. Nobody can control, influence or withdraw your bitcoin, except for you.

 

When you download the Bitcoin Core client, this piece of software generates an sortcode/accountnumber unique to your hard-drive. This sortcode/accountnumber will only ever be generated based on your individual hard-drive. Nobody else in the world can gain access to your details.

 

When you send a payment via Bitcoin, the receiver usually gets their Bitcoin in less than 10-minutes, with a miniscule amount of fees paid. Typically, the fee is around $0.05 per transaction. 

 

"Miners" on the network verify that all transactions are real and legitimate. They do this by tracing the original source of the funds, and following them through the "bank accounts" on the public ledger. If the Miners are 100% certain that the transaction is real, then the transaction is made in real-time. 

 

Bitcoin doesn't have regulation? No, it doesn't. But the companies who use Bitcoin are regulated (usually). If I send 1 bitcoin to Upwork, then I expect Upwork to credit me with the Dollar equivilent. If they fail to do so, then Upwork have fallen foul of the relevant regulations and can subsequently be prosecuted in court.  Bitcoin does not need regulation, as it is the companies themselves who are regulated.

 

In the typical banking network, the banking network is regulated. The banks are regulated. The companies are regulated. There is too much regulation that makes the whole system costly and time consuming (but that's another story).

 

Please people. Do not make assumptions on Bitcoin if you are simply uneducated on the subject at hand.

 

Bitcoin is an Open Source piece of software - meaning that ANYBODY can investigate the source code of the software. There are no viruses/trojans, and it is not a Ponzi scheme. Since it is open source, anybody can look at how the Bitcoin system works freely. Do you think we'd all be using it if was a Ponzi scheme?

 

Do you think the USA government would of legalized Bitcoin if it was a ponzi scheme?

 

With that said, I would like to also note that currently, Bitcoin has over 1 million users. As it goes, we're a loyal bunch. We will always choose a company that accepts Bitcoin over a company that doesn't. We believe that our technology is revolutionizing the world. Starbucks chose to accept Bitcoin, and guess what? Their sales are through the roof. Us Bitcoiners love giving our hard-earned Bitcoins to companies who believe in our Open Source technology and unregulated, free-to-move and derestricted currency.

 

With that said, UpWork adopting Bitcoin would be a massive boost to their potential user base. If Fiverr accepts Bitcoin, and UpWork doesn't, and I can get the same service at Fiverr - then I will choose to shop at Fiverr, as will 1million PLUS bitcoiners.

 

Thanks.

 

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