There's also the GloBee[0] payment processor. It accepts Monero, so you're able to maintain your privacy whilst consuming like a capitalist zombie.
Coinbase Commerce: merchants can accept multiple digital currencies
21–30 of 86 posts
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#22Earlier quoted context omitted.
Bitcoin alone is responsible for this reputation of slow transaction times among cryptocurrencies. Litecoin and Ethereum have the same blockchain architecture but are mined faster, so they are faster, but this linear improvement may not be sufficient for scaling. Minerless "DAG" coins like Nano may prove to be more practical in the long run because they scale exponentially. re: Value change during a transaction: vola…
your logic is funny, is like having a busy site with a postgress db, and saying postgress is at fault, look at my mysql wordpress site with 1.3 visitors per day, how fast it is. Ethereum will colapse on itself sooner of later, no one managed to sync a node recently.
Hasn't the latest Geth update improved syncing?
https://blog.ethereum.org/2018/02/14/geth-1-8-iceberg%C2%B9/
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#23Earlier quoted context omitted.
Bitcoin alone is responsible for this reputation of slow transaction times among cryptocurrencies. Litecoin and Ethereum have the same blockchain architecture but are mined faster, so they are faster, but this linear improvement may not be sufficient for scaling. Minerless "DAG" coins like Nano may prove to be more practical in the long run because they scale exponentially. re: Value change during a transaction: vola…
your logic is funny, is like having a busy site with a postgress db, and saying postgress is at fault, look at my mysql wordpress site with 1.3 visitors per day, how fast it is. Ethereum will colapse on itself sooner of later, no one managed to sync a node recently.
Where exactly is my logic funny? Mined blockchains scale linearly. Increasing block size, etc. can increase speed temporarily but can still only scale linearly. Busy site or not, the ledger needs an architectural change to handle exponential growth. Your busy Postgress db would also need to change in architecture from a single resource to something more distributed in order to scale exponentially. A less busy website of the same architecture also wouldn't handle exponential growth. What am I missing?
Edit: To clarify, yes, some mined blockchains feel faster now simply because they are less busy. They are still doomed to Bitcoin's fate at scale unless distributed systems techniques like sharding (or Nano's block lattice) are used. I'm not saying that the less busy blockchains are any better.
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#24Earlier quoted context omitted.
your logic is funny, is like having a busy site with a postgress db, and saying postgress is at fault, look at my mysql wordpress site with 1.3 visitors per day, how fast it is. Ethereum will colapse on itself sooner of later, no one managed to sync a node recently.
Where exactly is my logic funny? Mined blockchains scale linearly. Increasing block size, etc. can increase speed temporarily but can still only scale linearly. Busy site or not, the ledger needs an architectural change to handle exponential growth. Your busy Postgress db would also need to change in architecture from a single resource to something more distributed in order to scale exponentially. A less busy website…
> To clarify, yes, some mined blockchains feel faster now simply because they are less busy.
Yes, and for now it's not proven in practice that Nano will also stay responsive when it hits the same scale/busyness.
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#25I wonder what they're policy is on adult. I do some work on an adult site and ccbill has got to be the worst credit card provider out there. Adult payments need to be disrupted.
Agree, lots of value can be provided to services in the grey-area. Specifically Coinbase doesn't allow this. Under "Prohibited Businesses" you can see "Adult Content and Services" being listed. Source: https://www.coinbase.com/legal/user_agreement?locale=en
There is no such clause in the Coinbase Commerce TOS[0], and "Coinbase Commerce accounts are completely separate from Coinbase accounts"[1].
Also not sure what the Coinbase Commerce account is even for since "Coinbase Commerce is not a hosted service".
[0]: https://commerce.coinbase.com/legal/terms-of-service/ [1]: https://commerce.coinbase.com/faq
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#26Earlier quoted context omitted.
Really funny how we've come full circle to the same centralized cabals acting as the gatekeepers decentralized currency was meant to destroy. It just goes to show, as long as the world runs on fiat currency, and you need to convert from cryptocurrency -> fiat to live your life, the conversion point (e.g. Coinbase) will always be a point of failure and regulatory capture.
Nothing really stops you from processing crypto-coins unlike credit cards where Visa and MasterCard have the last say. With crypto you no longer need approval from the platform owner. If you don't like Coinbase you can create your own coinbase-like platform. You have to remember that with fiat you don't have much control over your money either unless it's cash so I believe crypto-coins are a big step forward. Buying…
Are there any checkout systems pre-built solely for holding crypto afterwards, and not for converting to fiat? Guessing Coinbase has to have it like that because they interact with wider networks.
If you wanted to sell a saucy story, how'd it work? Essentially a hot wallet with a webhook?
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#27Earlier quoted context omitted.
Where exactly is my logic funny? Mined blockchains scale linearly. Increasing block size, etc. can increase speed temporarily but can still only scale linearly. Busy site or not, the ledger needs an architectural change to handle exponential growth. Your busy Postgress db would also need to change in architecture from a single resource to something more distributed in order to scale exponentially. A less busy website…
> To clarify, yes, some mined blockchains feel faster now simply because they are less busy. Yes, and for now it's not proven in practice that Nano will also stay responsive when it hits the same scale/busyness.
Fair enough. In theory Nano's design can handle something like O(2^n) transactions per second where n is the number of nodes, while mined blockchains can handle O(n) transactions per second where n is roughly the block rate multiplied by block size. In practice who knows. The former has a fighting chance, at least.
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#28What does this mean for a crypto project like Request Network ( https://request.network/#/ ) which is trying to become the "Paypal for cryptocurrencies"? I am genuinely curious as I own some REQ, believe in the team, but also like what Coinbase has done to bring crypto to the masses (minus the outrageous fees of course).
My personal opinion about Request and similar projects.
I have been using bitcoin for a while, I have payed for real goods and online services with it and I've following the crypto ecosystem for a few years. I really can't see the reason for more than just a handful of competing cryptocurrencies becoming mediums of exchange.
Request's goal is noble, but I think that they'd be better off working on implementing payment gateways for existing cryptos. The first mover advantage seems to be huge in this space, and I really can't see how Request, or any other crypto can scale fast enough to dethrone bitcoin or the rest of the big competitors.
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#29I've never used bitcoin but to my understanding it can take quite some time for a payment to be processed. What happens if you buy something and pay, then when the merchant receives the bitcoins the value of them has dropped say 10%? Does the merchant take the loss in this system?
Coinbase can easily take care of this. They can have a small reserve and sell the bitcoin as soon as the transaction is published/sent to the mempool. No need to wait for any confirmations. If the transaction happens to be fraudulent†, they just buy the bitcoin back and realize the earning/loss (in the long run they will tend to even out).
†Not sure what the attack vectors are here.
Re: Coinbase Commerce: merchants can accept multiple digital currencies
#30Earlier quoted context omitted.
They are also working on Lightning Network integration. https://www.youtube.com/watch?v=UtXe-wQyrWw&feature=youtu.be
Does lightening address coinbases incredibly long and arbitrary delays in deposits to an actual bank account?
No, lightning (not lightening, btw) addresses the relatively long delays in confirming transactions. Merchants who are unwilling to accept unconfirmed transactions must wait tens of minutes (depending on risk they want to accept). With lightning it's as fast as you can transmit packets through the internet (order of milliseconds).