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Author Topic: Here is the biggest problem with cryptos  (Read 586 times)
spy100 (OP)
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July 29, 2020, 09:11:26 AM
Last edit: July 29, 2020, 12:53:29 PM by spy100
 #1

Here is the biggest problem with cryptos that no one is focusing on

If you want to sell digital goods or if you need a notification on your shop that client made payment you have to use a third party or a node  or a smart contract

Not one crypto solved the problem of allowing merchants to sell their own digital goods easy

To deploy a smart contract costs money each time you need to update it and you have to create a dapp for it

To host a node costs money ( hosting fees )

To use a third party costs money ( fees )

What's the point of a crypto if i can't use it as a merchant easy and without extra fees ? I could just use paypal or credit card processing ...

We must solve this problem

The merchant should easy copy/paste a code and put it in his html .


--------------------------------------


Instead of crypto currencies stay as digital currencies you morons turned bitcoin / eth and other cryptos in to financial instruments .  That's the problem !

Well good luck explaining to avg Joe how to sell his cows with bitcoin.

You deviated from the original plan :

"What is needed is an electronic payment system based on cryptographic proof instead of trust,allowing any two willing parties to transact directly with each other without the need for a trusted third  party.  " -- A smart guy that wrote a whitepaper

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July 29, 2020, 10:16:26 AM
Merited by gentlemand (2)
 #2

You think paypal and credit card processing is free?
Those 2 also come with a cost. AFAIk each of those takes a % of the transaction for themselves.

For example ebay. If you buy something for $1, 33 cents goes to paypal. On top of that, ebay will also charge you a fee.
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July 29, 2020, 10:23:06 AM
 #3

Exactly!
But I don't think it's a problem that can't be solved.
Merchants should be able to run full nodes on their phones too. Full nodes must not be too big and hard to run. Full nodes enable people to  fully or properly benefit from well decentralized crypto.
Imagine running a full node that will consume a maximum of 1g on your phone or computer.
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July 29, 2020, 10:23:34 AM
 #4

You think paypal and credit card processing is free?
Those 2 also come with a cost. AFAIk each of those takes a % of the transaction for themselves.

For example ebay. If you buy something for $1, 33 cents goes to paypal. On top of that, ebay will also charge you a fee.

Exactly! Their services are not free. But I am guessing if you are dealing with crypto, the fees will be lower as compared to these whales. Though sometimes the btc tx fees goes high when the network is crowded. However, it is the merchant's liberty whether to integrate crypto in their system or not. Who knows, because of this pandemic a lot of customers are looking for alternative options not to pay in fiat and crypto is one good option? And it will be merchant's loss if their customer is asking for crypto payment.
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July 29, 2020, 10:56:51 AM
 #5

Here is the biggest problem with cryptos that no one is focusing on

If you want to sell digital goods or if you need a notification on your shop that client made payment you have to use a third party or a node  or a smart contract

This is not true. You can search for free any block explorer to see if the payment happened.

And many wallets notifies the user when he receives credits.

Electrum (from electrum.org) shows a popup in the desktop when I receive a new transaction. I can almost guarantee that it does the same in mobile version

Quote
https://electrum.readthedocs.io/en/latest/faq.html
The client subscribes to its own addresses (nit: sha256 hashes of scriptPubKeys) so that it would be notified of new transactions touching them. It also synchronizes the existing history of its addresses. This means the client sacrifices some privacy to the server, as the server can now reasonably guess that all these addresses belong to the same entity.


Your "biggest" crypto problem is a just a bad software you are using.

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July 29, 2020, 11:09:41 AM
 #6

Biggest problem?

That's not the biggest problem that everyone can think of. The biggest problem to me is the banning of bitcoin by each country. If a crypto friendly starts to ban bitcoin, do you think that's not the biggest problem?

To me, that is.



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Rainbot
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July 29, 2020, 11:17:21 AM
 #7

Here is the biggest problem with cryptos that no one is focusing on

If you want to sell digital goods or if you need a notification on your shop that client made payment you have to use a third party or a node  or a smart contract

Not one crypto solved the problem of allowing merchants to sell their own digital goods easy

To deploy a smart contract costs money each time you need to update it and you have to create a dapp for it

To host a node costs money ( hosting fees )

To use a third party costs money ( fees )

What's the point of a crypto if i can't use it as a merchant easy and without extra fees ? I could just use paypal or credit card processing ...

We must solve this problem

The merchant should easy copy/paste a code and put it in his html .
This is the perfect question. For example, For example, I am thinking of selling products with crypto.. But there is still no fluent way. This is a big problem. Using 3rd party programs causes huge fees.
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July 29, 2020, 11:21:01 AM
 #8

Here is the biggest problem with cryptos that no one is focusing on

Yeah right! The biggest problem.

If you want to sell digital goods or if you need a notification on your shop that client made payment you have to use a third party or a node  or a smart contract

Actually almost all clients and payment scripts offer this by default.

Not one crypto solved the problem of allowing merchants to sell their own digital goods easy

Crypto is money, the coin itself doesn't have to offer anything, it's the additional software that gives these features.
Digital money is not allowing you to pay online, it's VISA and other payment gateways that do this.

To host a node costs money ( hosting fees )
To use a third party costs money ( fees )

You can host your own node and you don't have to use a thrid party.

We must solve this problem
The merchant should easy copy/paste a code and put it in his html .

"html", huh? I'm begging to understand why you're having that much trouble finding work

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July 29, 2020, 11:24:46 AM
 #9

If you want to sell digital goods or if you need a notification on your shop that client made payment you have to use a third party or a node  or a smart contract

Use a proper wallet.


Not one crypto solved the problem of allowing merchants to sell their own digital goods easy

There's cryptocurrency plugins for pretty much all relevant online shop solutions.


To deploy a smart contract costs money each time you need to update it and you have to create a dapp for it

Why would you need a smart contract for offering centralized services?


To host a node costs money ( hosting fees )

Use a SPV wallet.


To use a third party costs money ( fees )

Don't use a third party.


What's the point of a crypto if i can't use it as a merchant easy and without extra fees ? I could just use paypal or credit card processing ...

That sounds like you've never used PayPal or credit card payments for business.


We must solve this problem

What problem.


The merchant should easy copy/paste a code and put it in his html .

There you go:

Code:
<a href="bitcoin:33jr6swgJxHwyFTgXKcv7kbKSy4du8Yt8r?amount=1">Pay here</a>
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July 29, 2020, 11:30:38 AM
 #10

I don't call it a problem, that's the reality, no business would operate without a cost, so they will also charge to get their revenue.
Simple common sense,  revenue - expenses = profit. that's always the formula, don't expect something free, because that is not legit.

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spy100 (OP)
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July 29, 2020, 11:59:38 AM
 #11

You think paypal and credit card processing is free?
Those 2 also come with a cost. AFAIk each of those takes a % of the transaction for themselves.

For example ebay. If you buy something for $1, 33 cents goes to paypal. On top of that, ebay will also charge you a fee.

I am talking about how easy it is for merchant to use does ... not about fees ...

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July 29, 2020, 12:03:11 PM
 #12

You think paypal and credit card processing is free?
Those 2 also come with a cost. AFAIk each of those takes a % of the transaction for themselves.

For example ebay. If you buy something for $1, 33 cents goes to paypal. On top of that, ebay will also charge you a fee.

I am talking about how easy it is for merchant to use does ... not about fees ...

It's easy because it's been around for decades. The first itteration of paypal buttons some 10+ years ago were also a pain to set up + paypal didn't support many many countries.
It'll get easier with crypto soon. Actually, there already are easy solutions, you just don't know them
spy100 (OP)
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July 29, 2020, 12:06:13 PM
 #13

Here is the biggest problem with cryptos that no one is focusing on

If you want to sell digital goods or if you need a notification on your shop that client made payment you have to use a third party or a node  or a smart contract

This is not true. You can search for free any block explorer to see if the payment happened.

And many wallets notifies the user when he receives credits.

Electrum (from electrum.org) shows a popup in the desktop when I receive a new transaction. I can almost guarantee that it does the same in mobile version

Quote
https://electrum.readthedocs.io/en/latest/faq.html
The client subscribes to its own addresses (nit: sha256 hashes of scriptPubKeys) so that it would be notified of new transactions touching them. It also synchronizes the existing history of its addresses. This means the client sacrifices some privacy to the server, as the server can now reasonably guess that all these addresses belong to the same entity.


Your "biggest" crypto problem is a just a bad software you are using.

Most of you don't get it

not all merchants are tech guys like us ...  

For a merchant should be simple as sending a link to someone

http//myserver.com/myaddress/payme  ---> client pays --> and files released  or notification send to email ...

Tell granny about electrum ... i am talking about making crypto available to all...even a 12 years old kid should be able to sell his digital paintings using crypto easy ,or a 80 years old ,without anyone else configuring servers etc ...









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July 29, 2020, 01:58:18 PM
 #14

Stop insulting ... or i will insult you ... first of all you dumb...
No wonder you don't get it your German ...

When you have no arguments, you resort to language, no wonder you lose all your possible clients if you get triggered this way

80 years old people can't even connect to wi-fi on a smartphone ...other people just don't like technology ... if you want crypto value to increase and to become a real currency it has to be used by all ...not by some morons that read a few tutorials online and now they are crypto experts ...  

My father is ~70 and my mother~60
They both have smartphones, they both can use a laptop with wi-fi, they both run their business, they can send their partners offer and requests via mails and Whatsapp, and they both have google pay on their smartphone.
My father is even downloading movies via utorrent
That argument about the old generation is pretty stupid.

Oh, and don't take my word, ...look at our eldest member here, 78 and a happy bitcoin user.

Explain to grandpa Joe how to config a vps ,upload a node via ssh etc and then add bitcoin to his website to sell his lemonade ... genius !

Why would a grandpa in his 80's want to run a lemonade shop? How many of those cases do you know?



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spy100 (OP)
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July 29, 2020, 02:19:40 PM
 #15


Why would a grandpa in his 80's want to run a lemonade shop? How many of those cases do you know?


You must be one of does rich snobs...

Here is an example :
https://www.youtube.com/watch?v=zNK2SsEkGmo


When there will be no more law and order or police , i will come to your house take all your stuff and your girlfriend/wife ,just so i make you live like the 90% of the world population...
 

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July 29, 2020, 02:25:14 PM
 #16

For a merchant should be simple as sending a link to someone

http//myserver.com/myaddress/payme  ---> client pays --> and files released  or notification send to email ...

Don't worry, I gotcha:

Code:
Hi <client_name>,

Please sent <amount> to <bitcoin_address>.

Thank you,
<merchant_name>

Not that hard now, is it? Book keeping and taxes are more complicated than requesting a payment in Bitcoin. If requesting your payments in Bitcoin were that hard, ransomware wouldn't be such a booming business. If some random cyber criminal can tell their "customers" how to send them money, so can anyone else.


Tell granny about electrum ... i am talking about making crypto available to all...even a 12 years old kid should be able to sell his digital paintings using crypto easy ,or a 80 years old ,without anyone else configuring servers etc ...

So you got granny's integrating credit card payment gateways? Or how else is granny accepting credit card payments for her lemonade?


My father is even downloading movies via utorrent

Assuming that your father lives in Germany -- does that mean he uses a VPN, or does he simply have balls of steel? Grin



Why would a grandpa in his 80's want to run a lemonade shop? How many of those cases do you know?


You must be one of does rich snobs...

Here is an example :
https://www.youtube.com/watch?v=zNK2SsEkGmo


When there will be no more law and order or police , i will come to your house take all your stuff and your girlfriend/wife ,just so i make you live like the 90% of the world population...


That's not an online store now, is it.
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July 29, 2020, 02:38:31 PM
 #17

For a merchant should be simple as sending a link to someone

http//myserver.com/myaddress/payme  ---> client pays --> and files released  or notification send to email ...

Don't worry, I gotcha:

Code:
Hi <client_name>,

Please sent <amount> to <bitcoin_address>.

Thank you,
<merchant_name>

Not that hard now, is it? Book keeping and taxes are more complicated than requesting a payment in Bitcoin. If requesting your payments in Bitcoin were that hard, ransomware wouldn't be such a booming business. If some random cyber criminal can tell their "customers" how to send them money, so can anyone else.


Tell granny about electrum ... i am talking about making crypto available to all...even a 12 years old kid should be able to sell his digital paintings using crypto easy ,or a 80 years old ,without anyone else configuring servers etc ...

So you got granny's integrating credit card payment gateways? Or how else is granny accepting credit card payments for her lemonade?


My father is even downloading movies via utorrent

Assuming that your father lives in Germany -- does that mean he uses a VPN, or does he simply have balls of steel? Grin




I am talking about some old guy trying to sell his products...

Example 1: he places an ad in the newspaper : I made a digital book send xyz BTC to address ABC ,once payment is sent you can  download the book ...without the need for him to install complex software or to use  third party ...

Example 2:
Granny is making cherry jams she wants to sell her cherry jams on facebook ... if she gives the address like you gave example how the f...k does she knows that Aunt Selma sent her 10 usd for a jar of Cherry Jam ? (Granny does not have time to go p2p with each client she is 80 ,she is making Cherry Jams  ,and has to deliver the Cherry Jams)

Also Timmy is in the USA and Granny in Germany ...Timmy has to wake up Granny in the middle of the night to send her BTC for a jar of Cherry Jam like you want to...

I know you Germans... i got one in the family ... you got no humor ,you are f...king robots ,only logic and reason in your minds ... you can't think like normal humans  Grin

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July 29, 2020, 03:00:25 PM
 #18

I am talking about some old guy trying to sell his products...

If that old guy cannot do this simple line of code and download a proper wallet, he should not be selling his products.

There you go:
Code:
<a href="bitcoin:33jr6swgJxHwyFTgXKcv7kbKSy4du8Yt8r?amount=1">Pay here</a>

It is much harder than this line to accept paypal or accept visa in your website. Bitcoin is easier than those methods online. Easier and cheaper.

Quote
Example 1: he places an ad in the newspaper : I made a digital book send xyz BTC to address ABC ,once payment is sent you can  download the book ...without the need for him to install complex software or to use  third party ...
If he uses any decent wallet, the wallet will pop up in his mobile when he receives funds. No need for complex software.


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Also Timmy is in the USA and Granny in Germany ...Timmy has to wake up Granny in the middle of the night to send her BTC for a jar of Cherry Jam like you want to...

Nah, I think you just don't understand how bitcoin work. Granny can give the address to Timmy before she sleeps.
If Granny were using a bank account, she would need to give her account information before going to be also, otherwise she would have to woke up in the middle of the night. lol

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.BLACKJACK ♠ FUN.
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stompix
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July 29, 2020, 03:05:10 PM
 #19

You must be one of does rich snobs...
Here is an example :
https://www.youtube.com/watch?v=zNK2SsEkGmo
When there will be no more law and order or police , i will come to your house take all your stuff and your girlfriend/wife ,just so i make you live like the 90% of the world population...

Oh, so because you have found one example, we shouldn't adopt this technology as it can't suit everybody, even if they don't have internet or electricity around there.
Does your grandma in this example use Paypal? Or a Credit/Debit card? If not then you should drop them and never use them again as it's impossible for them to become used worldwide.
Let's also bring down all the satellites as a billion people don't have a tv!

,only logic and reason in your minds ... you can't think like normal humans  Grin

Normal human like you being illogical and unreasonable? Got it! Man I wish I was german!

My father is even downloading movies via utorrent
Assuming that your father lives in Germany -- does that mean he uses a VPN, or does he simply have balls of steel? Grin

The assumption is wrong as almost very post that guy makes, I do live in central Europe but I'm not German, a little bit more to the southeast.
But anyhow, he does know how to use a VPN, I thought him that in order to avoid clips who are not displayed on YT because of regional copyright claims and when the new GDPR law came in and a lot of US newspaper decided to cut us off rather than trying to deal with European laws and traffic.

So you got granny's integrating credit card payment gateways? Or how else is granny accepting credit card payments for her lemonade?

Worse of all, she is not even selling lemonade!  Grin

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.BLACKJACK ♠ FUN.
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HeRetiK
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July 29, 2020, 03:11:33 PM
 #20

I am talking about some old guy trying to sell his products...

Example 1: he places an ad in the newspaper : I made a digital book send xyz BTC to address ABC ,once payment is sent you can  download the book ...without the need for him to install complex software or to use  third party ...

holup.

guy places ad in the newspaper... for a digital book... by posting his BTC address... so usually he would post his bank account info instead?

guy knows how to create a digital book... but is unable to learn how to use a Bitcoin wallet.

what.


Example 2:
Granny is making cherry jams she wants to sell her cherry jams on facebook ... if she gives the address like you gave example how the f...k does she knows that Aunt Selma sent her 10 usd for a jar of Cherry Jam ? (Granny does not have time to go p2p with each client she is 80 ,she is making Cherry Jams  ,and has to deliver the Cherry Jams)

I guess because aunt selma send her a message like "hey granny I just sent you 10 usd for a jar of cherry jam"? I mean how else would they tell granny where to send the cherry jam. also what sort of corporate hellscape empire is granny running if she ain't even got time for customer support?


Also Timmy is in the USA and Granny in Germany ...Timmy has to wake up Granny in the middle of the night to send her BTC for a jar of Cherry Jam like you want to...

what the hell timmy, let granny sleep. don't you know she'll see the transaction when she wakes up in the morning to prep the packages? jesus fucking christ now granny also has to instant ship her packages? is her last name bezos or sumthin?


I know you Germans... i got one in the family ... you got no humor ,you are f...king robots ,only logic and reason in your minds ... you can't think like normal humans  Grin

i'm not a German, buddy. I do have a lot of friends there though.

apart from that, dude, you really gotta work on your business cases. even the fictional ones. no wonder you're swimming in that economy. jesus christ.



So you got granny's integrating credit card payment gateways? Or how else is granny accepting credit card payments for her lemonade?

Worse of all, she is not even selling lemonade!  Grin

granny is now too busy doing freelance contracting work in finance, no time for selling lemonade anymore.
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