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Coinbase Commerce: merchants can accept multiple digital currencies

medium.com

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Re: Coinbase Commerce: merchants can accept multiple digital currencies

#5

Post by diggan »

steveeq1 wrote: post #3

I 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

Re: Coinbase Commerce: merchants can accept multiple digital currencies

#6

Post by chatmasta »

diggan wrote: post #5
steveeq1 wrote: post #3

I 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

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.

Re: Coinbase Commerce: merchants can accept multiple digital currencies

#7

Post by tyfon »

I'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?

Re: Coinbase Commerce: merchants can accept multiple digital currencies

#8

Post by themihai »

chatmasta wrote: post #6
diggan wrote: post #5

Earlier quoted context omitted.

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

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 fiat with crypto is another issue but as long as crypto coins are accepted widely there will always be ways to buy goods, services and even fiat.

Re: Coinbase Commerce: merchants can accept multiple digital currencies

#9

Post by johnpowell »

vim_wannabe wrote: post #4

Looks exactly like Sprite's offering right down to the scary 15 minute window you are expected to complete your Bitcoin transaction in, doesn't it?

I just bought a computer from newegg with bitcoin and I think they used bitgo. They also had the 15 minute window thing. But the transaction didn't have to be confirmed in that time. It just needed to be out there somewhere which only took about a minute. And that was back when BTC was around 15K and it would takes hours for a actual transaction to be confirmed. But it would lock in the transaction quickly and then it would take a while for newegg to send me a email saying the payment was confirmed.

I just checked and the time between my order and initiating the sending of BTC to bitgo in Electrum to newegg saying the payment was accepted was just a little under five hours.

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