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OpenNode – Bitcoin Payment Processor

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Re: OpenNode – Bitcoin Payment Processor

#91

Post by KetoManx64 »

stymaar wrote: post #87
KetoManx64 wrote: post #70

Earlier quoted context omitted.

It's a flex when you compare it to a government based currency where the bank or government can freeze your bank accounts or just empty it. Plenty of stories from The USA and Canada from the last decade of that very thing being done.

Meanwhile with cryptocurrencies you have the choice between getting blocked by your exchange or losing your wallet (from your own negligence or a hack)

Not all that different from losing your physical wallet with your ID and debit card or giving your bank info to a Nigerian Prince.

Pick your poison, do you trust corrupt institutions or yourself more.

Re: OpenNode – Bitcoin Payment Processor

#92

Post by AnthonyMouse »

Anon1096 wrote: post #43
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

I would guess the price for payment processing drops tremendously when you don't need to handle fraud or chargebacks at all. It's for sure worse for consumers but I do think it has its place (for example adult content that has huge chargeback risk or straight up blocked by other processors).

> for example adult content that has huge chargeback risk or straight up blocked by other processors

This has the default inverted.

The best place for the traditional payments system is when you're making a large purchase from a questionable seller, and then you're willing to pay extra for the assurance that you can reverse the transaction.

If you're making a small purchase or buying from someone you regularly do business with, why would you want the cost of other customers' chargeback fraud or use of stolen cards to be added to the price you pay?

Re: OpenNode – Bitcoin Payment Processor

#93

Post by atomic_cowprod »

KetoManx64 wrote: post #91
stymaar wrote: post #87

Earlier quoted context omitted.

Meanwhile with cryptocurrencies you have the choice between getting blocked by your exchange or losing your wallet (from your own negligence or a hack)

Not all that different from losing your physical wallet with your ID and debit card or giving your bank info to a Nigerian Prince. Pick your poison, do you trust corrupt institutions or yourself more.

Dude.

You lose your wallet, you make a few phone calls or walk into a bank and get a new card. You lose very little more than some time. Losing your crypto key means you lose your crypto.

Those are not at all the same thing.

Re: OpenNode – Bitcoin Payment Processor

#94

Post by pooploop64 »

Wow I can't believe this lightning crap is still going. No wonder crypto is still a joke, you clowns are still pushing Bitcoin like it's the be-all-end-all of crypto, and not the first ever reference implementation of blockchain. It's so obsolete at this point that it's not even funny anymore. It's sad. I wanted so badly for crypto to be a thing. But it never will because of these people. And I don't even want it anymore if it has to be bitcoin until we're all dead. All of the criticisms of crypto are 100% accurate when regarding Bitcoin. It destroys the environment and the parts economy simultaneously with it's ridiculous hardware requirements. Lightning doesn't make that go away. I remember 6 years ago there was already reams of new blockchains that made Bitcoin look like the cotton gin. And they will never be used for anything. Please switch to scalping pokemon cards from kids or something, it would be less despicable and damage the world less.

Re: OpenNode – Bitcoin Payment Processor

#96

Post by stymaar »

KetoManx64 wrote: post #69
Max-q wrote: post #45

Earlier quoted context omitted.

That usage is not a generic payment usage. This is a use case it is good for. But if 8 billion people should use Bitcoin for their everyday shopping, that is a totally different case...

Well you wouldn't use Bitcoin itself to exchange on, you'd use side layers like Lightning payments for the near instantaneous exchange which then gets aggregated into one of the upcoming blocks. MasterCard was around in the 1950's, in 2026 they do not still use the same method of exchanging money as they did back then and have had to make big changes to their systems as time has gone on, Bitcoin does the same thing e…

> except it's not controlled by a banking cartel but by all it's userbase.

Bitcoin is absolutely not controlled by its user base, but by another cartel (made of mining pools and exchanges). You, as a user have literally no say in any decisions taken by bitcoin except voting with your feet, which is exactly what you're suggesting against Visa & MasterCard's (which aren't banks by the way…)

Re: OpenNode – Bitcoin Payment Processor

#97

Post by stymaar »

KetoManx64 wrote: post #91
stymaar wrote: post #87

Earlier quoted context omitted.

Meanwhile with cryptocurrencies you have the choice between getting blocked by your exchange or losing your wallet (from your own negligence or a hack)

Not all that different from losing your physical wallet with your ID and debit card or giving your bank info to a Nigerian Prince. Pick your poison, do you trust corrupt institutions or yourself more.

“I trust my midwit brain rather than the institutions that makes the modern world work” really isn't the flex you think it is.

Re: OpenNode – Bitcoin Payment Processor

#98

Post by KetoManx64 »

stymaar wrote: post #97
KetoManx64 wrote: post #91

Earlier quoted context omitted.

Not all that different from losing your physical wallet with your ID and debit card or giving your bank info to a Nigerian Prince. Pick your poison, do you trust corrupt institutions or yourself more.

“I trust my midwit brain rather than the institutions that makes the modern world work” really isn't the flex you think it is.

> Institutions that make the modern world

The same institutions that caused the 2008 crash, the same institutions that in the last 5 years have printed 50% more of the total US dollar supply, the institutions that keep the poorest and lowest classes perpetually poor and stuck by constantly inflating their savings away?

Yes, I think I will trust Bitcoin and my hardware wallet more.

Re: OpenNode – Bitcoin Payment Processor

#99

Post by KetoManx64 »

stymaar wrote: post #96
KetoManx64 wrote: post #69

Earlier quoted context omitted.

Well you wouldn't use Bitcoin itself to exchange on, you'd use side layers like Lightning payments for the near instantaneous exchange which then gets aggregated into one of the upcoming blocks. MasterCard was around in the 1950's, in 2026 they do not still use the same method of exchanging money as they did back then and have had to make big changes to their systems as time has gone on, Bitcoin does the same thing e…

> except it's not controlled by a banking cartel but by all it's userbase. Bitcoin is absolutely not controlled by its user base, but by another cartel (made of mining pools and exchanges). You, as a user have literally no say in any decisions taken by bitcoin except voting with your feet, which is exactly what you're suggesting against Visa & MasterCard's (which aren't banks by the way…)

The exchanges and miners do have a large influence, but the node runners (the users) have a voice as well. The node runners can get together, and refuse to peopogate the blocks of of the miners/exchanges that are being bad actors (BIP 148 for example) and also (BIP 110) that's currently making the rounds.

If a large enough percentage of the node runners need refuses to propogate a block from a bad actor, then another miner can mine the same block and get the reward.

Re: OpenNode – Bitcoin Payment Processor

#100

Post by stymaar »

KetoManx64 wrote: post #90
atomic_cowprod wrote: post #84

Earlier quoted context omitted.

Sure. The vast majority of those stories being the freezing of proceeds from criminal activity or funds that are part of a legal dispute and for which there is a high probability that the holder of those funds will attempt to illegally hide or move those funds. Again, this is by design. Such safeguards exist for a good reason. They are tools that are as necessary as a policeman's gun. Yes, they are tools that can be…

It comes down to how much you trust the government, central banks, and the institutions of power, especially post Epstein and COVID.

As much as some amount of defiance towards contemporary governments is warranted, believing that the crypto world is more trustworthy is an insane take. Especially post MtGox and all what followed…

The Epstein class and the Bankman-Fried class are the same people (and don't get fooled by their patronyms, it has nothing to do with Jews, and all to do with the American elite). And Trump is both an friend of Epstein and a proponent of cryptocurrencies.

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