What is the "open wallet" step? That can't mean I have to have a wallet with Stripe, can it?
Stripe: Bitcoin
11–20 of 374 posts
Re: Stripe: Bitcoin
#12Is this available to canadian stripe accounts too or just US?
Re: Stripe: Bitcoin
#13> Fluctuation-resistant - Avoid exchange rate hassles—specify amounts in USD and we’ll send you dollars.
I don't think I fully understand this part. Does the exchange rate remain static for a period of time, or do they just mean to say it's automatically converted for you? If the latter, how is this fluctuation resistant.
Regardless, I'm very happy. Been waiting for this to come out of beta.
Re: Stripe: Bitcoin
#14Honestly, this may be what it takes to see more mainstream consumer adoption.
A lot of the apps with high levels of penetration in this generalized demographic seem to use Stripe--if it's truly a frictionless integration, it will be really interesting to see the market's response.
Coinbase & exchange API's were the first step. Single-script hosted payment processing with a UI focus (accessible to tech and grassroots e-commerce alike) seems to be the next.
And to the Stripe team--Thank you!
I've used many merchant processors, from 2004 until now. Along with Braintree you paved the way for this future in MP, and overall created a brilliantly engineered system that's a pleasure to work with.
Re: Stripe: Bitcoin
#15> Fluctuation-resistant - Avoid exchange rate hassles—specify amounts in USD and we’ll send you dollars. I don't think I fully understand this part. Does the exchange rate remain static for a period of time, or do they just mean to say it's automatically converted for you? If the latter, how is this fluctuation resistant. Regardless, I'm very happy. Been waiting for this to come out of beta.
Fluctuation resistant for the seller but not the buyer.
Re: Stripe: Bitcoin
#16Is this available to canadian stripe accounts too or just US?
Although I can't find it stated explicitly, if you look at "Guide Part 2: Creating a charge"
:currency => "usd", # presently can only make bitcoin charges in USD
So, looks like USD for now. Although I think you could probabaly just implement the conversion yourself on your own wrapper code.
> my apologies. I misread your question, thinking you were referring to currencies. But assuming they only accept USD, i'd have to assume its only for US accounts too? Perhaps someone can chime in and let us know though. Or try it with a canadian account and see what happens.
Re: Stripe: Bitcoin
#17What a fantastic product page. After less that 30 seconds, I knew exactly what Stripe was doing with Bitcoin, how to use the new feature and integrate it.
This is great news for Bitcoin. If all it takes is one extra line of code for online retailers to start accepting the currency, widespread adoption could sky rocket. That's always been Bitcoin's crutch, simple integration. Others like Coinbase and Bitpay have made it much easier to accept Bitcoin, but usually more services are required to accept other forms of payment. This simple catch-all solution is a game-changer. Congratulations Stripe.
Re: Stripe: Bitcoin
#18> Stripe charges just 0.5% per successful Bitcoin transaction. There are no other fees. Beautiful
Yes, but of course the exchange rate matters as well. It's trivial for Bitcoin payment processors hide an extra "fee" in the exchange rate by giving you a worse exchange rate than you'd get at Bitcoin exchanges and pocketing the difference. (I have no idea if Stripe does that or not)
That cost would be borne by the customer, won't it? I guess that's still in some sense a fee from the Stripe vendor's perspective, because the Bitcoin price will be higher for the customer and thus the quantity demanded will be lower than it would be with the vendor's USD sticker price.
Re: Stripe: Bitcoin
#19Greg Brockman from Stripe said this is exactly what it would take for BTC to take off commercially a year ago:
(after discussing why regular people probably don't want to store value in BitCoins)
> However, Bitcoin has huge potential as a way to transport value. It’s surprisingly difficult to move money today ...compounding the issue, value transport becomes especially challenging as soon as there’s a regional border involved.
> Cryptocurrencies have given us a real opportunity to solve these problems.
Re: Stripe: Bitcoin
#20Disappointed to see that they don't appear any PaymentProtocol[1] integration.
[1] https://github.com/bitcoin/bips/blob/master/bip-0070.mediawi...