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arabspaceship123
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April 20, 2021, 06:54:05 PM
Merited by LoyceV (4), hugeblack (2), ETFbitcoin (1), bitmover (1)
 #1

Is the cryptocurrency website payments solution market saturated? Is there space for a simple free plugin to help small shop owners or do sellers prefer established plugins? Will a new simple plugin be appreciated?

Available cryptocurrency plugins work in different ways to get the same results. I've modified an existing script for Electrum that pulls transactions data then exports it to databases. If there's interest I'll share for free when it's ready with a guide for installing.

It's a basic script for accepting Bitcoin when customers get to checkout. It might help small online shop owners because there's no processing fees so shop owners keep 100% of what they receive from customers.

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April 21, 2021, 03:42:43 AM
 #2

Is the cryptocurrency website payments solution market saturated? Is there space for a simple free plugin to help small shop owners or do sellers prefer established plugins?
It's a bit saturated but there's always room for one more, even if known plugins would still be the preferred choice for most of the shop owners out there.

Will a new simple plugin be appreciated?
Why not [especially if you decide to make it open source].

Available cryptocurrency plugins work in different ways to get the same results. I've modified an existing script for Electrum that pulls transactions data then exports it to databases.
Since results are pretty much the same, then hopefully it comes with unique features...
- I do know I'm probably asking too much for something that's free but that directly contributes when it comes to shop owners using it over other known plugins.

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April 21, 2021, 09:25:40 AM
 #3

The most similar payment system i know is Mycelium Gear (https://gear.mycelium.com/). However, there are 2 major differences
1. It's not self hosted
2. They charge 0.5%, where AFAIK merchant pay it to Mycelium manually every month

So yes, there's space for your plugin.

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April 21, 2021, 11:17:23 AM
 #4

Available cryptocurrency plugins work in different ways to get the same results. I've modified an existing script for Electrum that pulls transactions data then exports it to databases. If there's interest I'll share for free when it's ready with a guide for installing.

Electrum wallet is not designed for this, but if the number of transactions that take place on the site is relatively small, then it may be a solution for those who want to accept payments.
BTCPay Server provides an ideal solution for those who want to manage everything by themselves and some paid applications give payment channels with low fees, so you should focus on ease of use.


Generally, Bitcoin fees are a bit high, I don't think it's the right time but it's going to get some attention. Cheesy Cheesy





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April 21, 2021, 06:41:42 PM
 #5

Is the cryptocurrency website payments solution market saturated? Is there space for a simple free plugin to help small shop owners or do sellers prefer established plugins? Will a new simple plugin be appreciated?

Available cryptocurrency plugins work in different ways to get the same results. I've modified an existing script for Electrum that pulls transactions data then exports it to databases. If there's interest I'll share for free when it's ready with a guide for installing.

It's a basic script for accepting Bitcoin when customers get to checkout. It might help small online shop owners because there's no processing fees so shop owners keep 100% of what they receive from customers.

With the current fees of Bitcoin, I don't think that it would be cheap using it as a payment solution. It is really not that hard to create your own wallet to receive tons of transactions just on that single wallet that also requests exact amount as what the customer must pay, and that is already enough to fulfill small time shop owners. I've known some of my locally supported wallet that they doesn't really have any percentage of the transaction at all and I guess having another script just for a small business would not really be necessary

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arabspaceship123
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April 21, 2021, 10:13:39 PM
 #6

I wasn't sure I'd get any advice so I'm thankful for your comments. I'll post updates soon.

@SFR10 The code I'm modifying is open source so what I'll put out is open source. Interested developers are free to make their own modifications and release it. It's simple it doesn't have unique features but there's enough space for others to build on it later.

@ETFbitcoin You've got me thinking of going further by adding api and handle the hosting. It's something worth investigating because self hosting isn't for everyone.

@hugeblack It's tested on Electrum because the open source code I'm modifying used it. BTCPay Server team created a useful payments solution, mine isn't anything like it but I'll give my best try by focusing on ease of use.

@Insanerman  I'm sure shop owners do that but generating addresses doesn't update shop databases with confirmations and payments received. Shop owners you mentioned get orders completed manually but that's not useful in digital download shops.


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April 22, 2021, 08:22:20 AM
 #7

Any new project or solution, no matter how big or small, to increase the acceptance of cryptocurrencies as a means of payment is welcoming.
Have you considered whether this could be used to create a multi-currency payment solution? This would come in handy in times when bitcoin fees are relatively high, as they are now.

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arabspaceship123
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April 22, 2021, 11:01:30 AM
 #8

It's an encouraging sign any option helping cryptocurrencies being accepted is welcomed. With me it's a small contribution but it's something others might find useful. When I read comments from @ETFbitcoin I've got more ideas but they'll be added after the first release.

Litecoin, Bitcoin Cash and Dash communities have Electrum versions. Providing multi-currencies with my code is possible but I'd like my Bitcoin version released first. I'll study other Electrum libraries later but theoretically Litecoin, Bitcoin Cash and Dash could be added without heavy issues.

Any new project or solution, no matter how big or small, to increase the acceptance of cryptocurrencies as a means of payment is welcoming.
Have you considered whether this could be used to create a multi-currency payment solution? This would come in handy in times when bitcoin fees are relatively high, as they are now.


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April 22, 2021, 09:49:48 PM
 #9

These payment end-methods are available on some website, but not on much as far as i have seen. I cant really say if there is a market saturation for this. I think if the owner of the stores wanted to have these kinds of payment methods they already would have appreciated it on their websites. There are a lot of plugins already existing in those developing fields. There just needs to be a reason to for shop owers to use it...maybe you find a plugin, add your parameters and sell it to some.

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July 09, 2021, 07:08:08 PM
 #10

It wasn't possible to update here sooner. I've stopped working on the code because there's better free scripts available with strong support teams. I could get back to it if I've got new ideas and more time that way I'll feel like I've contributed something back.

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July 12, 2021, 05:45:35 PM
 #11

I have modified an existing script for electrum that fulls transaction
.then exports it to address. its basic script for accepting Bitcoin .when customers get to checkout because there is no processing fish so shop owner keep 100 percent of what they receive from customers.
arabspaceship123
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July 13, 2021, 11:08:35 PM
 #12

You've copied some of my words. What's your post supposed to mean?

I have modified an existing script for electrum that fulls transaction
.then exports it to address. its basic script for accepting Bitcoin .when customers get to checkout because there is no processing fish so shop owner keep 100 percent of what they receive from customers.

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