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If I understand correctly it exchanges some btc to dollars in order to pay the merchant. But this relies on 0-conf transactions, right?
If I understand correctly it exchanges some btc to dollars in order to pay the merchant. But this relies on 0-conf transactions, right?
Edit: downvotes don't tell me why I'm wrong, would appreciate counterexample, I don't see any docs on the Shift site, and there's no way in hell they're using zeroconf transactions at this scale, which means instant payments must come out of a USD account somewhere
If I understand correctly it exchanges some btc to dollars in order to pay the merchant. But this relies on 0-conf transactions, right?
If you wanted to use a visa card, why would even bother with bitcoin? Or vise-versa
Earlier quoted context omitted.
that is terrible, especially for a company in the bitcoin space which should be encouraging best practice for security at all times.
The bitcoin industry has a long and chequered history when it comes to best practices. Part of the appeal of bitcoin to many is "Banks are so unnecessarily expensive to transmit value", the bitcoin industry has slowly and painfully been learning one disaster after another that maybe some of that cost isn't unnecessary after all.
Someone please change the title to Anywhere IN US :)
> Anywhere in US Only in less than half of the US states (they use the number "24" prominently, which is still less than half, but include DC and PR, and CA is limited to 1000 users, so 21 is a more realistic number). [1] https://support.coinbase.com/customer/en/portal/articles/222...
If I understand correctly it exchanges some btc to dollars in order to pay the merchant. But this relies on 0-conf transactions, right?
It relies on you having a BTC wallet with coinbase - where coinbase controls the private key.
Earlier quoted context omitted.
Almost equally bad.
Perhaps we can quash the notion that financial privacy is "bad". Anyone who deals with international finance knows that KYC compliance is a joke and the required submission of sensitive personal documents to third-party companies is a major contributor to identity theft and fraud. Indeed, identity fraud is in many ways a product of policies that force companies to collect this data. Nor is there any sensible moral ar…
Earlier quoted context omitted.
The bitcoin industry has a long and chequered history when it comes to best practices. Part of the appeal of bitcoin to many is "Banks are so unnecessarily expensive to transmit value", the bitcoin industry has slowly and painfully been learning one disaster after another that maybe some of that cost isn't unnecessary after all.
What disasters are you talking about? It is possible to transmit value securely and safely with bitcoin so Im not sure what point you are trying to make other with this sort of vague statement.
EDIT: My point is that a financial service is more than just the protocols used. Actually the protocols are the least important thing to the average customer. The more important thing is trust. I trust that my money in the bank will stay there and that transactions made using my bank will go to the person I say they should. Part of the reason for my trust is in the regulation around the banking industry. E.g. the savings guarantee here in the UK(/EU?). The bitcoin industry (not the protocol but the services around it) have yet to provide me that level of trust coupled with comparative ease of use.