[ANN] [SFR] SaffronCoin | Latest Version - 1.4.2/2.6.2 | Mandatory Wallet Update

[MysticalCockFungus]

Hi,
We are pleased to inform that our current feature in development is SFRPay through which you can purchase SFR with fiat through PayPal and CC right from your wallet.

Wasda, Pho and cryptoholic helped us on IRC to setup PayPal for SFRPay. We will start working on the interface and backend. We can very well have SFRPay ready by next week!

Many in IRC have been talking about getting BTC late from Coinbase and other services. By the time they receive BTC, the SFR prices end up going high. So we feel SFRPay can certainly benefit them.

We will have some screenshots in a few days probably after the upcoming HardFork!

As good as that sounds, you will have your paypal account banned within a matter of days/weeks. They ban anything to do with crypto and paypal are just scum in general, i would avoid them. If they freeze your account (which is illegal but they do it anyway) then u have no access to your money for 6 months while they earn interest on it and they freeze thousands of accounts every day for just about any reason.

[jrich76]

Hi,
We are pleased to inform that our current feature in development is SFRPay through which you can purchase SFR with fiat through PayPal and CC right from your wallet.

Wasda, Pho and cryptoholic helped us on IRC to setup PayPal for SFRPay. We will start working on the interface and backend. We can very well have SFRPay ready by next week!

Many in IRC have been talking about getting BTC late from Coinbase and other services. By the time they receive BTC, the SFR prices end up going high. So we feel SFRPay can certainly benefit them.

We will have some screenshots in a few days probably after the upcoming HardFork!

As good as that sounds, you will have your paypal account banned within a matter of days/weeks. They ban anything to do with crypto and paypal are just scum in general, i would avoid them. If they freeze your account (which is illegal but they do it anyway) then u have no access to your money for 6 months while they earn interest on it and they freeze thousands of accounts every day for just about any reason.

Why not Dwolla?

[life2you]

A good coin with A hard-working Dev! excellent!

[saffroncoin]

Hi,
We are pleased to inform that our current feature in development is SFRPay through which you can purchase SFR with fiat through PayPal and CC right from your wallet.

Wasda, Pho and cryptoholic helped us on IRC to setup PayPal for SFRPay. We will start working on the interface and backend. We can very well have SFRPay ready by next week!

Many in IRC have been talking about getting BTC late from Coinbase and other services. By the time they receive BTC, the SFR prices end up going high. So we feel SFRPay can certainly benefit them.

We will have some screenshots in a few days probably after the upcoming HardFork!

As good as that sounds, you will have your paypal account banned within a matter of days/weeks. They ban anything to do with crypto and paypal are just scum in general, i would avoid them. If they freeze your account (which is illegal but they do it anyway) then u have no access to your money for 6 months while they earn interest on it and they freeze thousands of accounts every day for just about any reason.

They shouldn't actually ban because they haven't said "Cryptos" are illegal. I know PayPro had this issue. Do not know how they set it up. But we are using it under "digital goods" category of PayPal and cryptos come under the digital goods/services category. Unless they openly say cryptos are illegal, they just can't ban. But PayPal is just a start. After some days we will look to integrate CC too.

[chickenfried12]

 I would call Paypal and verify that they will not freeze your account. They are also very famous for chargeback fraud.

[SkyValeey]

I still don't get it! SFR price is under 2k. It's real price should be 20k+.

There's no "should be" in cryptoland.

[saffroncoin]

I would call Paypal and verify that they will not freeze your account. They are also very famous for chargeback fraud.

Well PayPal is not that widely used in our part of the world. So do not really know the issues they have.

But it is pretty lame of them to ban a account that deals with something that is not "officially banned" by them. I am not sure if they will do it, but if they do then we are going to take some steps forward because they just can't ban something that isn't specifically mentioned.

[chickenfried12]

  Just use safeguards in selling. I doubt you will have huge legitimate purchases there at this time. Just set limit on the  amount they can purchase. Price should reflect risk and convenience also. 

[saffroncoin]

  Just use safeguards in selling. I doubt you will have huge legitimate purchases there at this time. Just set limit on the  amount they can purchase. Price should reflect risk and convenience also. 

Yea will keep limits. Also PayPal is owned by ebay and ebay is integrating Bitcoin so wonder why they would have a problem with cryptos.

[chickenfried12]

  I think part of the problem is charge back issues. They did not understand  Cryptos and blockchains. If they are integrating Bitcoin, they may have changed their stance. I was threatened last year by Paypal that I could have my account restricted if I continued to sell bitcoin.
   I would focus on payment systems that are widely used in India. I think if you focus on becoming the leading Alt. currency in India you will gather lots of World Wide Attention.

[saffroncoin]

  I think part of the problem is charge back issues. They did not understand  Cryptos and blockchains. If they are integrating Bitcoin, they may have changed their stance. I was threatened last year by Paypal that I could have my account restricted if I continued to sell bitcoin.
   I would focus on payment systems that are widely used in India. I think if you focus on becoming the leading Alt. currency in India you will gather lots of World Wide Attention.

Yea but many in India don't even know what Bitcoin is. So at this point we need to target the majority of our community. We can already say that we are the only main alt currency in India. In a few months time, we will look to seek the Govt. attention to make us the official crypto currency of India for alternative payments. Then setup ATMs. Once our Govt. gives a nod to cryptos, it would be great.

[tfbpa]

I was very excited that you knew all the executive managers and board of directors at Paypal when I read that it will be integrated, as Paypal is extremely notorious for almost not allowing anything to be bough/sold and since you stated that it would be integrated I actually thought that perhaps you were one of the directors.

Only this seems not to be the case. From what I understand you did not even contact the legal department of Paypal yet, is that correct? The very first thing you need to do is get in touch with the board of directors of Paypal, explain your business plan and get a written approval that you are allowed to buy/sell cryptocurrency, otherwise your account will be blocked by Paypal within a very short time.

As long as you don't have specific, written confirmation of the board of directors of Paypal, I really wouldn't waste any time trying to implement it, as it will be blocked almost immediately.

See https://en.bitcoin.it/wiki/Buying_Bitcoins_(the_newbie_version)#PayPal for more information about Paypal and Bitcoin, which you really should have researched before telling everybody that you will integrate it.

That said, I do like your coin and wish you all the best, but again, don't waste any time with Paypal until you have a written confirmation from the Board of Directors.

[saffroncoin]

I was very excited that you knew all the executive managers and board of directors at Paypal when I read that it will be integrated, as Paypal is extremely notorious for almost not allowing anything to be bough/sold and since you stated that it would be integrated I actually thought that perhaps you were one of the directors.

Only this seems not to be the case. From what I understand you did not even contact the legal department of Paypal yet, is that correct? The very first thing you need to do is get in touch with the board of directors of Paypal, explain your business plan and get a written approval that you are allowed to buy/sell cryptocurrency, otherwise your account will be blocked by Paypal within a very short time.

As long as you don't have specific, written confirmation of the board of directors of Paypal, I really wouldn't waste any time trying to implement it, as it will be blocked almost immediately.

See https://en.bitcoin.it/wiki/Buying_Bitcoins_(the_newbie_version)#PayPal for more information about Paypal and Bitcoin, which you really should have researched before telling everybody that you will integrate it.

That said, I do like your coin and wish you all the best, but again, don't waste any time with Paypal until you have a written confirmation from the Board of Directors.

Thanks for that link. PayPal is not widely used in my part of the world so never knew it had so many issues. Maybe those PayPal regulations were before eBay CEO said that he is interested in Bitcoin. But this has made me think of an even better solution. According to most of you, PayPal doesn't allow merchants doing business with Bitcoin. So let us give out Gift Cards. Certainly PayPal allows the buying of Gift Cards/Vouchers right?
Once our users make a purchase for the amount of SFR they wish to buy through PayPal, we will email them a SFR Gift-Card/Voucher containing a unique code. Entering that code into your wallet will have the amount of SFR you purchased transferred to you within some time. So here PayPal is only used by you to buy Gift-Cards/Vouchers which i feel they have no problems with. I don't think it matters to them that those Vouchers will be used to get digital currencies. They say not to use their service for buying/selling digital currencies, ok we are not. We are just issuing some Gift-Cards/e-Cards/Vouchers. Also we are doing this business under "digital goods and services" which does include virtual Gift-Cards.  

In this way i guess everyone is happy and we meet the regulations.

What do u think?

[hamzatu]

Gifts cards is money. Good idea.

[TizeN85]

Good solution to use PayPal !

[kcanup]

  I think part of the problem is charge back issues. They did not understand  Cryptos and blockchains. If they are integrating Bitcoin, they may have changed their stance. I was threatened last year by Paypal that I could have my account restricted if I continued to sell bitcoin.
   I would focus on payment systems that are widely used in India. I think if you focus on becoming the leading Alt. currency in India you will gather lots of World Wide Attention.

Yea but many in India don't even know what Bitcoin is. So at this point we need to target the majority of our community. We can already say that we are the only main alt currency in India. In a few months time, we will look to seek the Govt. attention to make us the official crypto currency of India for alternative payments. Then setup ATMs. Once our Govt. gives a nod to cryptos, it would be great.

When things grow in India, I will take  SFR to Nepal, then SFR will rock whole South East Asia. As of right now Nepal government has banned Bitcoin without even knowing its technological benefits im focused to make money for myself so i can shit on their monetary policy one day and introduce crypto to public in few months time. 

[tfbpa]

I was very excited that you knew all the executive managers and board of directors at Paypal when I read that it will be integrated, as Paypal is extremely notorious for almost not allowing anything to be bough/sold and since you stated that it would be integrated I actually thought that perhaps you were one of the directors.

Only this seems not to be the case. From what I understand you did not even contact the legal department of Paypal yet, is that correct? The very first thing you need to do is get in touch with the board of directors of Paypal, explain your business plan and get a written approval that you are allowed to buy/sell cryptocurrency, otherwise your account will be blocked by Paypal within a very short time.

As long as you don't have specific, written confirmation of the board of directors of Paypal, I really wouldn't waste any time trying to implement it, as it will be blocked almost immediately.

See https://en.bitcoin.it/wiki/Buying_Bitcoins_(the_newbie_version)#PayPal for more information about Paypal and Bitcoin, which you really should have researched before telling everybody that you will integrate it.

That said, I do like your coin and wish you all the best, but again, don't waste any time with Paypal until you have a written confirmation from the Board of Directors.

Thanks for that link. PayPal is not widely used in my part of the world so never knew it had so many issues. Maybe those PayPal regulations were before eBay CEO said that he is interested in Bitcoin. But this has made me think of an even better solution. According to most of you, PayPal doesn't allow merchants doing business with Bitcoin. So let us give out Gift Cards. Certainly PayPal allows the buying of Gift Cards/Vouchers right?
Once our users make a purchase for the amount of SFR they wish to buy through PayPal, we will email them a SFR Gift-Card/Voucher containing a unique code. Entering that code into your wallet will have the amount of SFR you purchased transferred to you within some time. So here PayPal is only used by you to buy Gift-Cards/Vouchers which i feel they have no problems with. I don't think it matters to them that those Vouchers will be used to get digital currencies. They say not to use their service for buying/selling digital currencies, ok we are not. We are just issuing some Gift-Cards/e-Cards/Vouchers. Also we are doing this business under "digital goods and services" which does include virtual Gift-Cards.  

In this way i guess everyone is happy and we meet the regulations.

What do u think?

That indeed sounds like a nice and creative solution that should be possible.

The only thing that I could find in short time is that according to Paypal's user agreement as per item 7.3 on https://www.paypal.com/hk/webapps/mpp/ua/useragreement-full gift-cards are not eligible for Paypal buyer protection.

This of course beneficial to the seller and negative for the buyer, but at least there is no chargeback possibility for you the seller and therefore your account will not get locked and as long as you keep the agreement and send the gift-cards which work, then everybody should be happy.

I like it!

<edit>
Do you already have working gift-cards and if not, any idea as to the timeline when you can have this available?
</edit>

[saffroncoin]

We will have it as vouchers / coupons. Just thought of this way of implementation. So will first have to design a good looking SFRPAY coupon and then develop an algorithm for generating unique codes on the coupon.

Much later when cryptos become even more popular, we can have hard coupons/vouchers that can be sold at stores. A much easier way to buy SFR.

[anon989]

We will have it as vouchers / coupons. Just thought of this way of implementation. So will first have to design a good looking SFRPAY coupon and then develop an algorithm for generating unique codes on the coupon.

Much later when cryptos become even more popular, we can have hard coupons/vouchers that can be sold at stores. A much easier way to buy SFR.

Btc-e, and bter have those codes you can get that allows you to transfer coins to another user on the exchange.
Sounds like a similar concept, and could allow users to "resale" the code with out touching the coins.
Could be handy.

[lin0sspice]

Btc-e is using code in their exchange such as cash amount

If SFR fiat exchange is coming we can do it to, so people can sell voucher to Fiat.

I know Vietnamese use Btc-e a lot.