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Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

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Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#31

Post by xrd »

Zcash is a great option. You can buy it on Coinbase once you have an account. Zcash has a very usable app on Android. Zcash does not have the speculative crowd like Ethereum or Bitcoin, so the price is more stable. Transaction fees are low. If you buy on Coinbase and then transfer into a wallet on your phone, you must use the public address (Coinbase obviously wants to provide data on what you did with the money you purchased from them). Once the Zcash is in your local wallet, you can use cloaked addresses for private transactions if you want.

Email me for more information if you want: chris@finneyfor.com

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#32

Post by weq »

mfrye0 wrote: post #10

I've been thinking about doing the same. Seems like most of answers here are BTC. Anything available in ETH yet? Or maybe XLM? A Stripe for crypto would be awesome.

Your bet best in accepting crypto directly with minimum fuss is setting up a crypto wallet and not attempting to bridge to fiat. this framework will get you off the ground quickly

https://moralis.io/

you can peg your crypto prices to fiat and advertise the crypto as floating that is final at the checkout. thats standard practice.

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#33

Post by robcohen »

tcgv wrote: post #29

Most comments suggest using BTC in various ways, as usual. I'm curious as to why hasn't a stablecoin been adoptet/gained mainstream traction for this use case yet? They seem like a perfect fit for making digital payments while preventing exposure to crypto volatility.

They are the perfect application, the problem is that they are generally expensive to use (see ethereum fees). There are efforts to get smart contracts working in Bitcoin, but we’re waiting for full implementation of taproot for most of that to be feasible.

Stellar USDC is cheap to use, but Stellar seems pretty centralized to me, so there’s that issue.

Another problem is that you need to convert USDC to USD, which is yet another step and also considered a trade so there’s more bookkeeping there.

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#34

Post by __d »

tcgv wrote: post #29

Most comments suggest using BTC in various ways, as usual. I'm curious as to why hasn't a stablecoin been adoptet/gained mainstream traction for this use case yet? They seem like a perfect fit for making digital payments while preventing exposure to crypto volatility.

The "perfect fit for making digital payments while preventing exposure to crypto volatility" is ummm ... fiat with Visa/Mastercard?

Which is exactly why no cryptocurrency has gained mainstream traction: it's solving a "problem" that doesn't exist for most people, and doing so in a way that introduces new problems.

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#35

Post by yokem55 »

mfrye0 wrote: post #10

I've been thinking about doing the same. Seems like most of answers here are BTC. Anything available in ETH yet? Or maybe XLM? A Stripe for crypto would be awesome.

You might check out zkcheckout from zksync who run a zk-rollup that inherits the full security of Ethereum with pennies for fees. This would allow for direct stablecoin payments without an intermediary and is fully self custodial (unlike strike).

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#36

Post by smabie »

__d wrote: post #34
tcgv wrote: post #29

Most comments suggest using BTC in various ways, as usual. I'm curious as to why hasn't a stablecoin been adoptet/gained mainstream traction for this use case yet? They seem like a perfect fit for making digital payments while preventing exposure to crypto volatility.

The "perfect fit for making digital payments while preventing exposure to crypto volatility" is ummm ... fiat with Visa/Mastercard? Which is exactly why no cryptocurrency has gained mainstream traction: it's solving a "problem" that doesn't exist for most people, and doing so in a way that introduces new problems.

traditional payment processors wield undo influence and control over businesses: just look at the past onlyfans drama.

Moving away from a duopoly that censors legal businesses it doesn't like is definitely valuable, and also something a stable coin could facilitate.

Moving money around onchain is orders of magnitudes easier than using the tradfi systems.

Most crypto firms (trading firms, VCs, protocols, etc) are exclusively using crypto to invest in deals, pay employees, etc. It really is so much better.

And I say this as someone who works in crypto for purely practical purposes (ie making money) and does not buy into the idea of crypto utopia.

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#38

Post by matheusmoreira »

apalmer wrote: post #19

Amazing how their is a currency who's been rising for 10 years that you actually have to 'solve' for how to spend it.

Bitcoin is a failure. It promised privacy, low fees, decentralization, lack of censorship and sanctions. We ended up with a transparent centralized expensive block chain whose tokens are not fungible. It's just a memecoin now. It just happens to be the biggest memecoin on the market. It's the one everyone knows about.

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#39

Post by lvs »

nprateem wrote: post #24

Just list on the particl marketplace [1] and accept payments in part directly. They're working on a decentralised exchanged (DEX) to seemlessly accept payments in different currencies. [1] https://particl.io/marketplace/sell/

I'm so confused by this. This is a desktop app that you have to download and install to buy and sell things in a particular currency?

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#40

Post by ahnick »

mfrye0 wrote: post #10

I've been thinking about doing the same. Seems like most of answers here are BTC. Anything available in ETH yet? Or maybe XLM? A Stripe for crypto would be awesome.

Flexa is basically Stripe for crypto and it supports ETH and XLM. https://flexa.network/currencies
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