Is it open source? If not, why choose the name “OpenNode”?
Just like how OpenAI is open source.
OpenNode – Bitcoin Payment Processor
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Re: OpenNode – Bitcoin Payment Processor
#12Is it open source? If not, why choose the name “OpenNode”?
OpenAI rings a bell
Re: OpenNode – Bitcoin Payment Processor
#13>Bitcoin - the only legitimate cryptocurrency secure enough for transacting at scale.
I prefer the trend of using stable coins for payment instead. I think merchants are much more willing to work with a digital dollars than with something with constantly fluctuating value.
Re: OpenNode – Bitcoin Payment Processor
#14I’m a little confused by the fees. In their pricing page (https://opennode.com/pricing) it says:
You request $100, the customer pays 0.00152 BTC, and then you get $99.
But 0.00152 BTC is almost $100? If I’m a business why would I pay $100 in BTC fees for a $100 transaction?
What is this solving? I’ll never understand crypto.
Edit: nvm I’m dumdum. Will get coffee. Thanks to everyone who replied.
Re: OpenNode – Bitcoin Payment Processor
#15Is it open source? If not, why choose the name “OpenNode”?
"Open as in wallet"
Re: OpenNode – Bitcoin Payment Processor
#16Broken link on the pricing page "How did we calculate this number " -> https://help.opennode.com/en/articles/3179796-where-are-open... -> "Uh oh. That page doesn’t exist. Try searching for your answer or just send us a message."
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Re: OpenNode – Bitcoin Payment Processor
#17I’m a little confused by the fees. In their pricing page ( https://opennode.com/pricing ) it says: You request $100, the customer pays 0.00152 BTC, and then you get $99. But 0.00152 BTC is almost $100? If I’m a business why would I pay $100 in BTC fees for a $100 transaction? What is this solving? I’ll never understand crypto. Edit: nvm I’m dumdum. Will get coffee. Thanks to everyone who replied.
It sounds like the fee is about $1.00: the delta between $100 and $99.
Re: OpenNode – Bitcoin Payment Processor
#18Genuine question - why would someone hold bitcoin for regular, everyday purchases? The buying power is all over the place.
This has tradfi banking ramps. You don't need to hold it. You can treat BTC as basically a payment network instead of something like the visa/mastercard cartel.
afaict, the main advantages of buying things with crypto are (potentially) lower transaction fees and latencies, and less red tape restricting who can buy what from whom. If you use a "tradfi onramp", doesn't it negate all of that? Why not just use tradfi all the way, for that transaction?
Re: OpenNode – Bitcoin Payment Processor
#19Genuine question - why would someone hold bitcoin for regular, everyday purchases? The buying power is all over the place.
This has tradfi banking ramps. You don't need to hold it. You can treat BTC as basically a payment network instead of something like the visa/mastercard cartel.
This was thr original intent of thr Satoshi paper, except BTC is probably the worst payment network you can think about, which is why it failed to gain any use as such over the past 18 years…
Re: OpenNode – Bitcoin Payment Processor
#20I’m a little confused by the fees. In their pricing page ( https://opennode.com/pricing ) it says: You request $100, the customer pays 0.00152 BTC, and then you get $99. But 0.00152 BTC is almost $100? If I’m a business why would I pay $100 in BTC fees for a $100 transaction? What is this solving? I’ll never understand crypto. Edit: nvm I’m dumdum. Will get coffee. Thanks to everyone who replied.
You don't. They are accepting $100 worth of BTC, converting it to dollars and giving you the dollars. They are basically operating like a credit card processor with a 1% fee, allowing you to accept bitcoin but operate in dollars.