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No mention of the time delay between accepting funds and withdrawing the funds. How would a merchant refund the customer in fiat or crypto?
They are also working on Lightning Network integration. https://www.youtube.com/watch?v=UtXe-wQyrWw&feature=youtu.be
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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.
The only people who aren’t aware of this spend all their time on highly censored platforms like /r/bitcoin
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. [0] https://globee.com/
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Nano takes like 4 seconds to confirm and has zero fees for transfer. It's really a no-brainer, but unfortunately this Bitgrail thing is going to muddy the waters for a long time.
BTC survived Mt. Gox and Bitfinex, NEM survived Coincheck, and fiat currencies survived many a bank robbery. Investor perception is low because the theft hurt early adopters, but I think that the technology will shine through sooner rather than later.
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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
> You agree not to use the Services in ways that:
> Are illegal, obscene, defamatory, threatening, intimidating, harassing, hateful, racially, or ethnically offensive, or instigate or encourage conduct that would be illegal, or otherwise inappropriate, including promoting violent crimes;
Depending on who you ask, "obscene" and "otherwise inappropriate" can cover adult entertainment.
Guess it's impossible for us to guess, unless a case goes to court.
What 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 paymen…
I am really on the face regarding bitcoin though: it is the grandfather of all those crypto projects and massively moves the market, but I don't quite understand how it could ever replace a currency given its very limited supply and astronomical unit economic price: it was not supposed to be a store of value like gold when it started.
Ultimately, I think a few projects with much higher coins in circulation and faster transaction times will end up becoming more valuable due to greater usability.
It's a shame it feels like REQ is a bit late to the game, but they do have ambitious plans, one of them is to enable cross-currency transactions (including fiat). No-one has yet gained the first mover advantage in this space so the jury is still out.
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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?
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. [0] https://globee.com/
That's not going to last long, it's basically an open invite for money laundering.
So we a situation where people can't even construct something from their imagination that is virtuous in all concerns. & people want financial technology to meet that bar? Seems unlikely to me.
Could there be some money laundering? Probably. Will there be attempts by the owners of the payment processor to stop such a thing? Probably. Will there be perfection? Probably not.
From what I understand, most money laundering occurs in the traditional financial system. Does it follow we should tear it down?
& besides, I thought crypto(assets) were a fad. A bubble. A figment of the imagination. A plaything for greater fools. If that's true, it's hardly worth worrying about.
What 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).