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Stripe: Bitcoin

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Re: Stripe: Bitcoin

#301

Post by runeks »

freework wrote: post #183
sah88 wrote: post #145

Earlier quoted context omitted.

What happens if it does not get confirmed. Do you debit the account by an equivalent amount or eat it?

its very easy to predict if a transaction will confirm.

The problem isn't detecting whether 99% of transactions will confirm.

The problem is preventing someone from ordering $10,000 worth of gold from a site that uses Stripe with Bitcoin payments enabled. Sending a paying transaction to Stripe, who confirms it within a minute, and simultaneously mining a block with contains a transaction that double spends the bitcoins sent to Stripe.

Stripe is now out $10,000. You receive your gold, sell it to your local bullion dealer for $9,500.

Of course, for Stripe, there are various hackish ways around this problem, like defining a maximum amount of, say, $1000, so that the above attack requires the attacker to mine 10 blocks instead of 1 (ie. repeat the procedure 10 times), in order to earn $10,000.

But they don't really solve the fundamental problem of accepting unconfirmed Bitcoin transactions.

Re: Stripe: Bitcoin

#302

Post by lmm »

RemoteWorker wrote: post #115

I find it hilarious how Bitcoin haters (like the ones we have here on HN) say it's never going to work, but then they spend hours every day trying to talk people out of using it.

The value of these things is a Keynesian beauty contest. If enough people decide that Bitcoin is a valid currency then it is a valid currency (just like baseball cards).

I think that would be bad for society. Any new value in the bitcoin ecosystem increases the value held by the early adopters - who are mostly drug dealers or other criminals, and the rest are the miners who enabled them. (bitcoin does have some advantages for some legitimate use cases, but the biggest advantages were for the criminal use cases).

Re: Stripe: Bitcoin

#303

Post by runeks »

pugz wrote: post #154

This is fantastic. However, I couldn't see any mention of a Bitcoin-specific minimum charge. Is it still 50c as per Stripe's existing documentation[1]? [1]: https://support.stripe.com/questions/smallest-amount-to-char...

I'd really like to see this question answered as well.

Also, I'd really like to know: is the credit card fee still ~2.5% if I receive 50 cents USD using credit card via Stripe? Or is there an additional, flat rate fee?

Re: Stripe: Bitcoin

#304

Post by stef25 »

muyuu wrote: post #292
patrickaljord wrote: post #27

Earlier quoted context omitted.

I think the crutch now is not that it's hard to acquire bitcoins (thanks to coinbase and friends) or pay with bitcoin (thanks to stripe and friends), no, the only crutch is why should I buy bitcoins with my dollars when I can just pay with my dollars directly? It can be useful for people who either don't have access to credit cards but have access to bitcoins, people who already have a lot of bitcoins and curious tec…

I don't want to give my CC details and/or my personal information to every merchant. This usually means I either buy from fewer merchants, or pay with bitcoin if allowed. Obviously, if the merchant is going to require my info anyway then it's pointless, so it depends. That's one of the main points about bitcoin for me. As a tool for privacy. On the surface it may seem trivial, and corporations living off mining your…

> I don't want to give my CC details and/or my personal information to every merchant

Why?

Re: Stripe: Bitcoin

#305

Post by [deleted] »

benjamindc wrote: post #9
manuelflara wrote: post #7

I absolutely love the little animated step by step process shown of how it works. Is this done with an open source library?

I'm just using a tiny lib that makes things easier: https://github.com/bendc/animate Other than that, it's just vanilla js/css.

[deleted]

Re: Stripe: Bitcoin

#306

Post by beecup »

benjamindc wrote: post #9
manuelflara wrote: post #7

I absolutely love the little animated step by step process shown of how it works. Is this done with an open source library?

I'm just using a tiny lib that makes things easier: https://github.com/bendc/animate Other than that, it's just vanilla js/css.

Can you share a un-minified version of this? I would love to see how you are using the animate lib to do this. Using a beautifier is still to hard to read for me :/

Re: Stripe: Bitcoin

#307

Post by fluffheadsr »

patrickaljord wrote: post #27
adriancooney wrote: post #17

What 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…

I think the crutch now is not that it's hard to acquire bitcoins (thanks to coinbase and friends) or pay with bitcoin (thanks to stripe and friends), no, the only crutch is why should I buy bitcoins with my dollars when I can just pay with my dollars directly? It can be useful for people who either don't have access to credit cards but have access to bitcoins, people who already have a lot of bitcoins and curious tec…

so that you don't have to give your CC info to companies who don't protect it and then have it stolen, so that some jack off in Texas can go buy 200 rolls of TP from wal-mart. That's enough reason. Push payments > Pull Payments

Re: Stripe: Bitcoin

#308

Post by fluffheadsr »

sdrothrock wrote: post #259
mikekchar wrote: post #219

Earlier quoted context omitted.

This is potentially amazing for me. I just started a consulting business in Japan. Credit cards are hard to come by, especially for foreigners. I need to pay for various services: domain name registration, etc, etc. At the moment I'm constrained to using Japanese companies who will accept bank transfer payments. If this becomes popular, I could buy services anywhere. There service fees are very reasonable. This is wh…

> I need to pay for various services: domain name registration, etc, etc. At the moment I'm constrained to using Japanese companies who will accept bank transfer payments. Why not buy a refillable Visa at a convenience store?

Those types of cards aren't available in the state of Vermont. Not sure of other states, but Green Dot, Visa Reloadables, etc aren't available here.

Re: Stripe: Bitcoin

#309

Post by fluffheadsr »

shostack wrote: post #193
vacri wrote: post #173

Earlier quoted context omitted.

- There are no chargebacks This is a huge negative for the customer, though

Bingo. Chargebacks are my way of making sure I have a fallback if the merchant fails to live up to their end of the bargain. I use them as an option of absolute last resort, but the few times I have, I've been very glad that I had the option, and that the credit card companies bent over backwards to shield me from the headaches of the issue.

companies who fail to live up to their end of the bargin in a bitcoin world won't survive long. I've been shopping on the internet since the 90's and not once have I had to place a chargeback.. Chargebacks are mostly fraud and people wanting shit for free.. In turn goods become higher priced and that cost is passed onto all the other customers.. Anytime I have been unhappy with an internet purchase the company has always given me a refund. The need for chargebacks is truly minimal. Any company that wants to keep their customers is going to issue a refund. Companies that won't are shady and need to go out of business anyway.

Re: Stripe: Bitcoin

#310

Post by sdrothrock »

fluffheadsr wrote: post #308
sdrothrock wrote: post #259

Earlier quoted context omitted.

> I need to pay for various services: domain name registration, etc, etc. At the moment I'm constrained to using Japanese companies who will accept bank transfer payments. Why not buy a refillable Visa at a convenience store?

Those types of cards aren't available in the state of Vermont. Not sure of other states, but Green Dot, Visa Reloadables, etc aren't available here.

We're talking about Japan, though.
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