Bitcoin Forum

Peso ID is a simple Bitcoin wallet shortener. Turn any address into 3 characters: https://peso.id (https://peso.id)

How do you monetize on this?   

An interesting service when it comes to sharing our addresses but I'm a bit worried if suddenly it changes into another platform meant for scamming ^{[by changing the addresses]} or a target for scammers to take control of your back-end and mess up the whole system...
^{- What measurements you've taken so far for combating the latter issue?}

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You should probably consider getting rid of the "delete link" button from those shareable links and only allow the owner to do it in some other way.

No github? This platform isn't even an open-source one despite of it being so simple... or is it just a shortener or might be something else? I won't be using this until you've published its back-end. We cannot be risking our addresses (although it is already public), as it can be used in various ways -- as SFR10 have said, it can be a target. But one thing is for sure, a newbie posting this remains everything unreliable. Better beware until the OP discloses how the platform really works behind.

I pasted a new address, deleted the link, waited a few seconds, and entered the same address, it gave me the same link  ???  ???  ???.

Who has the right to change the validity of the link, and how will it be known that the user is the one who did this?
Is there a way to create accounts?
Why isn't the address registered after signing a letter and verifying the signature?

Try to decentralize the service to gain some reliability.

I have a second thought on this, there is a possibility that the redirection of your address can be changed to another address, so if you are going to use this to charge your client, the funds could end up sending to a different address, what is the purpose of this cloaking and how reliable is this.

Well that answers Vod's question about monetizing the project.  ;D
I would look at it like it's the same thing as shortening URL websites where the admin can monetizethru ads. I didn't think this peso.id though but to know more how OP really will monetize this project of him. 

I'm comfortable sending the real BTC address actually to ask for payment. Not QR code nor short URL but REAL BTC address. There is just no room for mistake t=when doing so.

Honestly, what is the use of this Peso ID aside from shortening the bitcoin address?
I don't get the other usage of this Peso ID. And what is the main catch also of this link too.
But anyway, do you have any other tools for this one dude?

Shortening address doesn't seem to be a 2021 type of innovation anybody wants. I mean it's much risky when you can potentially loose your money. I don't know anyone that wanna take such risk

Thanks for all the feedback, going to address some of the questions.



We will add a link to an affiliated instant exchange at the bottom, in order to enable simple payments with other cryptocurrencies. Optional of course, and the only monetization we will ever introduce. No ads or paid subscriptions.



There is almost no surface for attackers to target.. The address bar and delete link are the only inputs so far. Regarding the former issue: Peso will move towards decentralization, which should prevent this threat in the future. Until then, there is no way for us to prove our intentions other than becoming more established over time. Obviously never blindly trust an address from any intermediary and always double check.



That's intended, the Peso ID is always the last few characters of your Bitcoin address.



It will become open-source at some point. But until Peso is decentralized, we're in control of the domain anyway and could simply run different code on the webserver than the one published on Github.



More characters.



Surely the way to go in most situations. But think of other scenarios, e.g. when you need to share an address in a phone call or to send it from one device to another. Also Peso will go beyond just sharing addresses.. stay tuned 8)

I think you'll find people will not trust a newbie's intentions so if you want to grow your service before gaining trust, change your system so it will not work with existing addresses (addresses with a transaction). 

Then no one can accuse you of data mining or any other nefarious activity.  :)

I agree do not trust third party with your Bitcoin address, with so many manipulation going on and OP not showing a good rank and trustworthiness I have doubt on this, there's no reason why you will cloak or hide your address unless you are involve on something suspicious.

Interesting idea but maybe you should also add option for making custom url links, for example if I want to make custom characters for my address.
Something like this exists for other link shorteners like bitly.com, is.gd and others.

None of that is going to matter if OP decides to change all addresses to his own.

Obviously :) But that means there's no use case left: why would anyone use this, if they need to check the full address anyway?

Let's test:
That works :)

Using a messenger, email, QR or anything else is safer. If you share your website URL by phone, the receiver still needs to confirm the full address in another way.

I appreciate what you're trying to do, but you're touching the basics of Bitcoin by creating a service that turns an address into something people have to trust a third party with. We've seen malicious QR code generators (https://www.zdnet.com/article/network-of-fake-qr-code-generators-will-steal-your-bitcoin/) and clipboard malware (https://bitcointalk.org/index.php?topic=5190776.0) already. This just adds more risk.

Start with Lightning Network, it's for small transactions and you won't need a lot of trust. This will make a lot of people excited to try your idea.
Try to make the code open source, and you can put any address to donate.
Isn't it difficult to remember ID? Is there an easier way to save it?

You don't need addresses for LN ::)

tbf verifying is easier than typing out the whole thing.. only a portion actually, anything over maybe 5-6 characters would be too difficult for the website to compute a matching address. but yea it's unnecessary 3rd party risk and shouldn't be recommended to noobs with the current trust model.

Interesting service to offer. However, I don't like the way you are posing your website/service without any prior information or notice regarding what you do.

For example as soon as I click the site link it directly takes me to the shortening tool. It is all right if I already know what peso does, but how do you convince unknown people what it is or how would they know what peso does. You must think on that end (?)

Another thing I wanna ask, what happens if I create multiple links from the same address? Will the funds sent over it get congested some way other? Definitely peso might have though about this, but how is it not complicating the broadcastings?

Yes, will be possible soon.



We are well aware, and it's not our goal to unnecessarily add trusted parties. Keep in mind it's just the beginning, we are already working on a fully decentralized name system.



Good idea, Lightning support is scheduled for Peso 1.3



The site is as basic as possible for the sake of simplicity. We aim to keep it self-explanatory though and will add information as we introduce new features.

Thanks again for all the feedback, we have taken your concerns to heart and reevaluated some of our security choices. A wallet shortener seemed like a good opportunity to showcase our name system, however we did underestimate the trust implications of deploying it without having transitioned to a decentralized structure first. In conclusion, we will postpone all features scheduled for v1 and fast-forward to Peso 2.0, introducing the Peso Name System.

TBA