when we will finally have good self-hosted, open-source, BTC gateways?
OpenNode – Bitcoin Payment Processor
51–60 of 132 posts
Re: OpenNode – Bitcoin Payment Processor
#52Very 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
lightning is a pain to set up, you have to open a channel and keep funding it - so if we are talking about small amounts these costs should definitely be added to your calculation. or you use lightning via an exchange - but that again kinda defeats the purpose of bitcoin. in fact all of this could probably be achieved much simpler by just using a stablecoin on tron, solana or one of the ether chains and forget about the whole lightning sending and bitcoin hedging. I doubt you can get lower transaction costs end-to-end staying on btc.
Re: OpenNode – Bitcoin Payment Processor
#53>Bitcoin - the only legitimate cryptocurrency secure enough for transacting at scale. I prefer the trend of using stable coins for payment instead. I think merchants are much more willing to work with a digital dollars than with something with constantly fluctuating value.
Stablecoins frequently get frozen by Tether and Circle for arbitrary reasons, as if an AI system is flagging
DAI exists and is not able to be frozen, but if the merchant's AI system flags a bitcoin transaction do you think you'll be able to cash that out? Just because they can't block it at the protocol level that doesn't mean they'll sign the transaction to send it to you.
Re: OpenNode – Bitcoin Payment Processor
#54>Bitcoin - the only legitimate cryptocurrency secure enough for transacting at scale. I prefer the trend of using stable coins for payment instead. I think merchants are much more willing to work with a digital dollars than with something with constantly fluctuating value.
Stablecoins can be censored. You deposited into Huobi 5 years ago? Banned. Now we keep your stablecoins, thanks for playing. You can't censor Bitcoin.
>You can't censor Bitcoin.
Your payment processor could be legally restricted from paying you your bitcoin.
Re: OpenNode – Bitcoin Payment Processor
#55This would be more interesting with other coins. Monero or cash come to mind
Re: OpenNode – Bitcoin Payment Processor
#56Is it open source? If not, why choose the name “OpenNode”?
Open for scammers, rug pulls, and money laundering
Re: OpenNode – Bitcoin Payment Processor
#57Earlier quoted context omitted.
I sent a transfer from the UAE to Spain and another one to the Netherlands. They took 5 days and 7 days respectively. The same transfer takes 10 minutes in Bitcoin. You don't do transfers to pay for stuff at the grocery store, the same way you would not pay using the Bitcoin network. You would use lightning network, which takes less than 2 seconds finality.
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...
Wire transfer is better?
Re: OpenNode – Bitcoin Payment Processor
#58[dead]
Re: OpenNode – Bitcoin Payment Processor
#59Re: OpenNode – Bitcoin Payment Processor
#60Earlier quoted context omitted.
Avoid trademarking fees! No need to spend money on trademarking what can't be trademarked ;)
So, OpenAI is certainly never trademarked? /s
Ironically, OpenAI would be trademarkable because they're not open.
> OPEN describes a feature of the services provided by applicant, in that applicant provides a "public node" that is accessible to anyone and allows users to interact with the blockchain network. See attached from opennode.com. Thus, "OPEN" is descriptive of the applicant's services, in that it conveys the open and public nature of the node that the applicant provides.
https://tsdr.uspto.gov/documentviewer?caseId=sn97399846&docI...