Show HN: Paypyrus – Electronic money in physical form with Venmo
1–10 of 18 posts
Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#2This is a hell of an idea. Haha, Damn you this has triggered my entrepreneurial ADD, it makes me want to build something around it! Venmo should not ignore this. They could really build upon this, and get some vendor lock-in if it gains popularity among their already loyal users.
Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#3It is unclear from description (and I am too lazy to read the code) how it works.
The first question is whether such paper "bill" would guarantee payment. Could issuer refuse to pay it, when presented. In other words such paper bill is analogous to dollar bill or bank check? If this feature could not be implemented with Venmo API, perhaps one can build some kind of escrow service.
My second question is about privacy. Is identity of the original paper bill "issuer" is disclosed to recipient?
Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#4It is unclear from description (and I am too lazy to read the code) how it works. The first question is whether such paper "bill" would guarantee payment. Could issuer refuse to pay it, when presented. In other words such paper bill is analogous to dollar bill or bank check? If this feature could not be implemented with Venmo API, perhaps one can build some kind of escrow service. My second question is about privacy.…
https://github.com/cydrobolt/paypyrus/blob/master/pp/models....
looks like it's web app that holds transactions and sends them to venmo when redeemed
Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#5So I only see two major downsides:
1) I basically I have to verify/transact every "printed" money the moment I get it - preferably using a smartphone - in case someone else has a copy of it and "takes" it first. Copies could be made with any high-resolution camera.
2) If the money travels from A to B to C in paper shape and the digital transaction will be from A to C then A will know that B has done business with C.
Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#6>Paypyrus is versatile like cash
But with none of the security, what a useful idea... Could I not just print the same dollar twenty times then it's a race to see who redeems it first? Cute idea though I guess.
Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#7>Paypyrus is versatile like cash But with none of the security, what a useful idea... Could I not just print the same dollar twenty times then it's a race to see who redeems it first? Cute idea though I guess.
I think that they can add security features in the future.
Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#8Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#9>Paypyrus is versatile like cash But with none of the security, what a useful idea... Could I not just print the same dollar twenty times then it's a race to see who redeems it first? Cute idea though I guess.
I think that they can add security features in the future.
$ cat /var/history.log | grep 'add.*security.*future' | grep -v failure | wc -l
0Re: Show HN: Paypyrus – Electronic money in physical form with Venmo
#10So I only see two major downsides: 1) I basically I have to verify/transact every "printed" money the moment I get it - preferably using a smartphone - in case someone else has a copy of it and "takes" it first. Copies could be made with any high-resolution camera. 2) If the money travels from A to B to C in paper shape and the digital transaction will be from A to C then A will know that B has done business with C.
Unless the note changes hands additional times between B and C.