Most payment processors supply their own API for the coins they support, so why not just go with that or do you want to bypass the fees that you have to pay for these payment processors? The down side to not using them, is the free marketing you will get, by being added to their network/database of clients they support.

Good luck with your project. ^smile^

Interesting questions, I also thought about this, but I thought they called a external API to transfer coins to their address and then onto the users. Some of these exchanges should have their own ledger to control the flow of coins between the generated addresses and also for cold storage.

Running a node for every different coin you want to support, will be costly and very complex and time consuming to maintain.

I would guess Satoshi's goal for Bitcoin was to be a Peer-to-Peer Electronic Cash System, like the whitepaper stipulates. People then started to trade with it as a commodity and use it for other purposes and it evolved from a Peer-to-Peer Electronic Cash System, to something with many other applications.

So let's not force Bitcoin into one box, if it is possible to fit it into many boxes. ^smile^

Why would the Peso crash, if we have people in America feeling threatened that they would be thrown out of the country, with or without their wealth? That was what confronted most of these Mexicans. So I think, many of them would have tried to transfer wealth in any way or form back to safe heavens that would be accessible within Mexico.

Bitcoin is the answer to that, because it is accessible globally without the restriction of capital control or borders.

Ok, this is weird. If they use the same sources, the price should be the same. The only thing I can think of, is that their software is at fault here. I would take a snapshot of their price with a snapshot overlaid from the other method you are using, to show the difference and then send that to their support staff.

You should bring the evidence that they are wrong. ^smile^

As they said, "We are FinCEN's bitch" so we have to dance according to their rules or they close our doors. The
government still pull the strings and they force businesses to adhere or they will close their doors. We should avoid using these "regulated" and centralized services at all cost, if at any way possible.

Unfortunately for many people they are the safe gatekeepers for conversion to fiat, and this is where it gets tricky. You will then have to resort to services like Localbitcoin to get pass that, with higher risk. ^hmmmmmm^

Winning $200 with the Free roll does not mean that the Lottery is provably fair. I can understand that you are happy about your win and you should be, but until we see some proof that the lottery is also provably fair, we should not stay quite.

Your $200 win might be funded by the Lottery system that are not provably fair.

If you have evidence that all features of this site is provably fair, please feel free to post it here, before you start calling people shitposters.

You cannot steal with one hand and give with the other, and this is what some of us are suspecting even if we cannot prove it. < We cannot prove it, because all code is hidden and all draws are done anonymously >

How can this be good for Bitcoin? We cannot stop these idiots to use Bitcoin for illegal commerce, but we should not encourage them either! Tor is riddled with 3letter agencies hosting Tor nodes and exit nodes to monitor and gather information on illegal activity and for me they are the ultimate honey trap.

If you think Tor will hide illegal activities, you have been deceived. Nothing is private anymore and we should know that.

Just something else, I may add. The bitcoins you buy, is only a reference on a Blockchain or a decentralized ledger, if I can simplify it. Ussually a bank manage the ledger to show, who owns what, but in this technology that reference is stored on a Blockchain that are stored on 1000's of computers running a node.

Your access to your bitcoins are dependent on your use. The best way to make sure that only YOU have access to your coins, will be for you to have sole access to the private key. Some sites hold the private key, and they manage the coins on your behalf < sometimes with their own internal ledger >

I prefer to have full control over all my coins and I manage this by using a hardware wallet and paper wallets for long term storage. It is not always possible, because in some instances you have to make use of these services, like exchanges to trade and then you have to trust them with your private key.

This is very over simplified to make it more understandable for new people. ^smile^

The best option will be the following :

~ Buy a old second hand computer & printer. < cheapest possible >
~ Download the https://www.bitaddress.org script and copy it on this computer.
< Do not connect this computer to the internet >
~ Run the script and create as many paper wallets as you like < remember to print multiple copies >
~ Laminate these paper wallets to protect them from water damage.
~ Store this in multiple locations. < safe deposit box or safe or in a time capsule under ground >
~ Destroy second hand computer & printer < safest option >

This should be your safest option. ^smile^

I have bigger dreams for Bitcoin :

~ I want to step into every shop on this planet and have them accept BTC
~ I want it to be used for many other applications eg. Smart contracts
~ I want to see BTC being used for micro transactions between people in small 3rd country villages.
~ I want to see BTC being used as the default currency in all games and financial software.

Bitcoin should be just as common as the US Dollar or the UK Pound. ^smile^

For someone who are new to Bitcoin, I would suggest you sign up with a local exchange. There are a lot of people bashing Coinbase, but you just need to follow their rules and you should be fine. The reason for this is simple, they are regulated and have to adhere to a bunch of AML/KYC regulations and this keeps them honest, or should I rather say, more honest than most of the non-regulated services out there.

You do not have to keep those coins on their site, because you can create your own paper wallets and then transfer some of those coins to these wallets for long term storage. < Just make sure you create these paper wallets in the correct and most secure way >

So I gave you some homework now. ^smile^ Do some research on creating your own secure paper wallets for cold storage and find some local Bitcoin exchange with a good reputation and track record.

Good luck, and welcome to our Bitcoin family.

The problem with this is the following, we have seen a lot of payment processors accepting Bitcoin as a payment option and these payment processors already have a network of merchants and services that accepts Bitcoin through them. So by the time you developed your worldwide-shipping online electronics store, others would have simply partnered with a payment processor and accepts Bitcoin via them.

How will your site still be unique, if everyone else accepts Bitcoin via these payment processors? 

I presume that this wallet is some sort of mobile App linked to a web wallet? If that is the case, you need to get some of that coins into cold storage. Mobile Bitcoin Apps are not one of the most secure ways to store bitcoins. Browse this forum for some help on how to create secure paper wallets and move some coins out to cold storage.

Keep some bitcoin in online wallets to use as needed or buy a hardware wallet like a Treazor for more security.

Good luck, your journey has just started. ^smile^

The Chinese government has shown some interest in developing Blockchain type technologies and I know they had meetings with some prominent members in the industry, like Jeff Garzik, Ethereum’s Vitalik Buterin, Tim Swanson from R3CEV and Jaxx’s Anthony Di Iorio.

I know they created a Chinese Blockchain Working Group to explore Blockchain opportunities, so this is not news to us.

I know nothing about LFC Coin and doubt that they will join efforts with a controversial coin like that. If they create some sinister/evil plan, it would not be this blatant. ^smile^

Congratulations, but buying is just the first step. Securing those bitcoins are a whole other matter. If I may ask, how are you storing those bitcoins? < cold storage / online wallet / exchange / desktop wallet / hardware wallet >?

I never store any of my coins in services, where I am not the only person who has access to my private keys. I temporarily hold some coins in services where I do not have sole access to the private keys, but that would only be for trading on regulated exchanges. ^smile^

Do some research and make sure you store some of your coins in secure storage, where you have sole access to your private keys.  

Why not? In most of these 3rd world countries, people have very little access to banking systems and they are in desperate need for alternatives to bridge that gap. A lot of the world's gold and the cocoa comes from Ghana and they have a thriving micro economy that would benefit from a technology that would offer cheap micro payments.

Ghana is ready for rapid disruption of the banking system and replacement of the system that has failed them for years.

Some of the most interesting things I have seen was :

~ The Water project where people donated bitcoin to a mechanical water system for charity, and with every donation a little bit of water was automatically dropped in a garden. You could watch it via live video streaming.

~ The most expensive pizzas ever bought also tweaked my attention back in the day, when bitcoin was still inexpensive.

~ Most of all is the vision that Satoshi had, way before Bitcoin were anywhere close to where it is today. He calculated and solved possible risks before they even happened. < The Byzantine Generals Problem >
  

Agreed, but there are still a risk if you buy in bulk. I will wait for some people to verify that this site is legit and then I will order something. I believe in supporting people that support Bitcoin, and I am always looking for some unique gifts for friends and family.

It is unfortunate that bad actors in this industry, like the site I was scammed at, cause negative perceptions for legit sites out there. ^hmmmmmm^

Who is Wetsuit? A anonymous user on a forum. Do you see any physical business address posted on their site? Do you know who the owner is? Do you know any of his or her employees working for this site? Is this site registered as a legal gambling operation and where is the license to operate?

Who registered the domain and is this linked to a physical address that can be linked to this site owner?

You will not find any answers to this, because it is not available. Most of these sites are not regulated and not registered as a business, so they are not paying taxes like the rest of us and they operate without a gambling license.

People conveniently forget about these things, because they get free handouts from the site and this practice is widely accepted, because everyone seems to be doing this.

Why would someone host a provably fair lottery, if they are not regulated and audited?

If you want to play the lottery, use the faucet income for that and write it off as entertainment and forget about winning anything, because there is no proof that it is in any way provably fair. ^grrrrrrrr^