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OpenNode – Bitcoin Payment Processor

opennode.com

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Re: OpenNode – Bitcoin Payment Processor

#21

Post by dfish »

pixelatedindex wrote: post #14

I’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.

??

The merchant requests 100 USD. The user pays X BTC equivalent to 100 USD. The merchant receives 99 USD aka the fee is 1 USD

Re: OpenNode – Bitcoin Payment Processor

#22

Post by tremarley »

pixelatedindex wrote: post #14

I’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.

$100 is the transaction value,it is not the cost of the transaction fees.

The fee is $1. They charge a 1% fee for instant payouts.

Re: OpenNode – Bitcoin Payment Processor

#23

Post by lesuorac »

stymaar wrote: post #19
mothballed wrote: post #10

Earlier quoted context omitted.

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…

Worst for whom?

Lack of chargeback risk seems nice for businesses.

Re: OpenNode – Bitcoin Payment Processor

#26

Post by nohell »

Hasz wrote: post #2

Very impressed at net cost. I used to run a small ecom business targeting total prices in the range of $3-10. At $3, payment processing is nearly 11-12% of costs, which is absurd, more if you amortize the occasional chargeback/fraud. Lightning can do it for For whoever posted, your cost calculator should be first thing on the page, and you "How we calculated this number" link is broken

Monero is even cheaper and more useful as cadh because it's private. Anyone can see Bitcoin history and where the user got their coins.

Re: OpenNode – Bitcoin Payment Processor

#28

Post by dfish »

stymaar wrote: post #19
mothballed wrote: post #10

Earlier quoted context omitted.

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…

I sent a transfer from the UAE to Spain and another one to the Netherlands. They took 5 days and 7 days respectively. The same transfer takes 10 minutes in Bitcoin. You don't do transfers to pay for stuff at the grocery store, the same way you would not pay using the Bitcoin network. You would use lightning network, which takes less than 2 seconds finality.

Re: OpenNode – Bitcoin Payment Processor

#30

Post by dfish »

charcircuit wrote: post #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.

Stablecoins can be censored. You deposited into Huobi 5 years ago? Banned. Now we keep your stablecoins, thanks for playing.

You can't censor Bitcoin.

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