121–130 of 155 posts
Earlier quoted context omitted.
I'm not arguing one way or the other about Bitcoin, but just pointing something out in general: marketing/slogans/etc aren't always accurate. Regardless of the item, mental gymnastics are not required to understand that. Edit: marketing/slogans/subtitles/bylines/etc
That's not a marketing slogan, it's the title of the paper that launched bitcoin.
I don't have a recommendation - I just want to make you aware of a major issue other stores have... > We do not intend to convert to traditional currency unless needed. This is a big risk due to cash flows. Most stores operate on a margin on merchandise that is under 10%, with a turnover on goods averaging months. If a currency fluctuates in value more than ~10% over several months, this can easily drive an otherwise…
> Most stores operate on a margin on merchandise that is under 10% Tell that to the literally hundreds of "shops" that dropship goods for ~50x the buying price.
Sure from time to time someone finds manages to make a decent income with such an operation, but it's not because the unit economics are so great.
Earlier quoted context omitted.
> If a currency fluctuates in value This is why you want to use stablecoins. There is plenty to choose from.
This just sounds like cash with extra steps
OP is asking for a way to collect money from customers to cover expenses that can be paid via crypto.
By accepting stablecoins, OP:
- Does not need to pay payment processor fees.
- Does not need to wait days to have the funds available.
- Does not have the risk of facing chargebacks
- Does not need to take the money from the bank to pay crypto.
Earlier quoted context omitted.
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.
Bitcoin's biggest success was proving that a cryptocurrency could exist and have utility. In that, it's inspired the creation of many successors which are superior.
I don't have a recommendation - I just want to make you aware of a major issue other stores have... > We do not intend to convert to traditional currency unless needed. This is a big risk due to cash flows. Most stores operate on a margin on merchandise that is under 10%, with a turnover on goods averaging months. If a currency fluctuates in value more than ~10% over several months, this can easily drive an otherwise…
Bitcoin is volatile in short-term, but long-term deflationary. Fiat currencies are stable in short-term, but long-term inflationary. It's a trade-off, and it depends on your circumstances which allocation works for you.
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.
Stripe used to have Bitcoin payments. Bitcoin payments fell out of fashion when fees started to rise. Let's see if they re-enable it with Lightning. https://stripe.com/blog/ending-bitcoin-support
Earlier quoted context omitted.
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 excl…
And yet you can't buy anything with crypto, as evidenced by an entire thread full of solutions that either, a) nobody uses, b) are terribly difficult to implement as a layman, or c) are possibly vehicles for fraud. As a guy who had no fear compiling Gentoo kernels 15 years ago, saying you can actually use BTC to pay for things is about a feasible as saying that 2005 was the year of the Linux desktop.
Earlier quoted context omitted.
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.
Bitcoin's biggest success was proving that a cryptocurrency could exist and have utility. In that, it's inspired the creation of many successors which are superior.
However, it's time for it to die in order to make way for better projects like Ethereum and Monero.
A bit of a related question: What is the best option to offer crypto payments to customers who hold no crypto and are new to crypto? I have a side project in a domain where I pay about 15-20% for CC verification/foreign exchange/payout. Huge numbers where crypto should be preferable. However, even with discounts I can not get any crypto payments. Customers do prefer to use CCs. I check the crypto payments space every…
In the US, Strike is probably the easiest one to get started. There's also no fees to buy bitcoin. Downside is that it works just in the US and a few additional countries. https://strike.me
You can buy bitcoin on Paypal and Venmo, but they can't be used for payments yet.
I used https://electrum.org/ for accepting btc payments and it worked fine. The bigger issues I had that I am skeptical any self-hosted options have is protecting your wallets from being poisoned by 'black' bitcoin. Coinbase (and maybe others?) keeps a blacklist of banned wallets (stolen or associated with crime or gambling[0]). If a customer pays you from a black address, you may end up poisoning your entire crypto…
> poisoned by 'black' bitcoin. Can you expand further on this? Is there a public list of blacklisted addresses we can download/query? How far does the association extend for an address to be blacklisted by other entities?
The bitcoin blockchain is public. This means the transaction history of every single bitcoin can be traced. It also means bitcoins are not fungible, you can tell bitcoins apart from each other.
If your bitcoin has ever touched a criminal wallet, chances are it will be blacklisted. Exchanges will refuse to accept it.
> Is there a public list of blacklisted addresses we can download/query?
Yes.
https://www.treasury.gov/ofac/downloads/sdnlist.txt
It's also interesting how the US treasury tried to blacklist a Monero wallet and ended up sanctioning a transaction hash instead.
> Digital Currency Address - XMR 5be5543ff73456ab9f2d207887e2af87322c651ea1a873c5b25b7ffae456c320;
Note the lack of a 0x prefix. Here's the transaction on a block explorer:
https://localmonero.co/blocks/search/5be5543ff73456ab9f2d207...
> How far does the association extend for an address to be blacklisted by other entities?
I don't know. I've seen some exchanges refuse to accept bitcoins from "unhosted" wallets, meaning they consider all non-exchange wallets to be tainted.