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Show HN: PeerSend – Social Payments powered by crypto

47 points by umitakcn 5y ago

umitakcn 5y ago
Hey everyone PeerSend allows you to send and receive Bitcoin SV in any website or social platform with a single click! Found an inspirational Tweet? You can reward it! Want to earn money through social media? Create content and get tips! We just launched Twitter integration yesterday and working on adding other social platforms like Twitch, Facebook and Youtube. If you want to test it out, send me your paymail address, I will send you some Bitcoin SV to test. Cheers
- _ink_ 5y ago
  Looks great. But choosing Bitcoin SV as underlying seems a bit unconventional. What is the rational behind it?
  - bradwood 5y ago
    No good reason as far as I can see. Bitcoin SV is as dead as disco. Use something like lightning or solana or Polygon. But this? Nah...
    - andelu 5y ago
      BitcoinSV uses the UTXO model, which is easier to scale than global state models like ethereum, solana, etc. And with it's massive block size there is hope for fast payments and low fees.
      - rglullis 5y ago
        What does UTXO have anything to do with scaling of the network? Yeah, you might get more transactions per block without increasing the size too much, but to think that gives a significant advantage over account-based chains is just drinking the kool-aid. Whenever you see someone selling you the idea that there will be a massively decentralized blockchain that can reach a high number of TPS without scaling off-chain, run in the other direction.
        andelu 5y ago
        It is widely held in the BSV community that UTXO has better scaling properties. Txs can be validated independently of other txs, alowing for parallelization of tx processing. See this for more https://www.youtube.com/watch?v=5Mhvk0U6zqE&ab_channel=UnboundedCapital https://www.youtube.com/watch?v=5Mhvk0U6zqE&ab_channel=Unbou... In account based models tx cannot be parralely validated. Please enlighten me if I have been mislead.
        rglullis 5y ago
        Yeap, this video is pure snake-oil. It overblows something that is a non-issue (ordering of the transactions) and tries to imply that is the core problem of "scaling". To put another way: if UTXO was paramount for scaling, there would be no need for BSV to exist because BTC (and BCH, LTC, Monero, Doge and so many others) are already based on UTXO. There are many other, bigger challenges and trade-offs to be considering when planning for scaling solutions. All of the solutions claiming they are scaling base-layer chains are doing so at the cost of centralization. Solana claims to make 100k+ TPS, but the amount of hardware required is incredibly expensive. Binance Chain manages to scale because it uses only 8 validator nodes. BSV is making these jumbo blocks, so the moment the network becomes popular it could be requiring 20-30GB per hour in storage, who in their right mind will want to run one of those?
  - andelu 5y ago
    BitcoinSV was probably chosen since it allows using layer 1 for peer-to-peer payments, by using huge blocks. In theory this means low fees and high transactions/seconds. This makes interoperability etc simpler than many layer 2 techs.
- akerl_ 5y ago
  What happens if I send money to a tweet author and they don’t use PeerSend and don’t want to sign up?
  - umitakcn 5y ago
    The recipient will have 24 hours to connect to PeerSend. If they don't connect in time, your payment will simply be cancelled and your money will stay in your wallet
- janandonly 5y ago
  Twitter is already integrating bitcoin. This app tries to implement one of the many forks “bitcoin SV”, but I think to no avail. People will use what is easiest and seeing the reel bitcoin integrated means that is what the public will be using...
- rglullis 5y ago
  I am really interested in the concept, but no interest whatsoever in BSV - none of the bitcoin family, but especially no interest in BSV. Is this choice a matter of circumstance (lower fees compared to BTC) or is BSV instrumental to you? If the former, may I recommend you take a look at Raiden[0], and especially the light client[1]? It would be perfect for your use case (peer-to-peer payments) and the light client has a SDK [2] which you could leverage into the extension. [0] https://raiden.network https://raiden.network [1] https://lightclient.raiden.network https://lightclient.raiden.network [2] https://lightclient.raiden.network/docs/ https://lightclient.raiden.network/docs/
  - umitakcn 5y ago
    We believe BSV is an excellent blockchain to build products on, because of its scalability, sustainability, transparency, and instant transaction. Its TPS is unlimited, block size unbounded, and the average network fee is $0.0004. Also community is very important to us. BSV is being used in daily lives of many people, far more than other major cryptocurrencies, thanks to its scalability. And a lot of pioneer developers of Bitcoin & blockchain are developing on BSV. These make one very healthy community that is likely succeed.
    - rglullis 5y ago
      > Its TPS is unlimited, block size unbounded, and the average network fee is $0.0004. Look, I don't want to start a flamewar, but you KNOW that this is just marketing speak for "we have no clue what is going to happen if people actually started using the network, but we can fake it until we make it", right? If you are not even willing to make an honest assessment about the pros and cons of BSV, why should anyone trust you? But nevermind, your response was enough for me to realize that you are choosing the latter of the choices from my question. The extension is developed in order to bring utility to BSV, not as way to promote the use of crypto in general. That's a pity, because your UI is really good and it could be beneficial for a lot more use cases if it was not tied to handcash and BSV.
      - kylelee99 5y ago
ALittleLight 5y ago
The subtitle says you can send crypto "with just one click". Now, maybe I'm being a bit pedantic here but the demo shows it's 4 clicks. Click the lightning bolt, click amount, click the send button, click the X to dismiss the final modal. Maybe it's not a big difference, but how can you call 4 clicks "one click"? Typo in the subtitle too - "PeerSend lets people to freely transfer crypto"
- anshorei 5y ago
  > Typo in the subtitle too - "PeerSend lets people to freely transfer crypto" Typo in your fix too - "PeerSend allows people to freely transfer crypto"
  - ALittleLight 5y ago
    Mine is not a fix, just a quote of the problem. I italicized the word that needs to be deleted.
rglullis 5y ago
Looks nice, but even after some browsing around I couldn't answer a very crucial question: is the handcash wallet custodial or not?
- umitakcn 5y ago
  Thanks, We will add this to our FAQ. HandCash in non-custodial wallet. You may have more information about it here https://handcash.medium.com/handcash-goes-keyless-b86d27339254 https://handcash.medium.com/handcash-goes-keyless-b86d273392...
TekMol 5y ago
The site seems very secretive about how it works. After reading a while, here is my educated guess: To use it, the user first needs to get ahold of Bitcoin SV somehow. Then the user needs to install their software. Since the software allows "payments" to people who do not have a public Bitcoin SV address, I guess the payment goes to PeerSend and not to the receiver. PeerSend then tries to contact the receiver and convince them to make a Bitcoin SV address. If that happens, PeerSend sends the funds to the receiver.
- xiphias2 5y ago
  There was another Bitcoin SV scam article just a week ago. It looks like Craig Wright is paying people to continue with it again. Maybe he has a new court appearance coming up, although I’m not following what’s happening to him.
  - umitakcn 5y ago
    Unfortunately No one pays us anything and I wonder how you are so sure about something which you even don't follow.
    - deleted 5y ago
      [deleted]
ddevault 5y ago
Cryptocurrency is an illegitimate industry founded on scams, ponzi schemes, and incredible waste. This is an immoral project which should not exist.
- Cymrukicks 5y ago
  Bitcoin was founded on that back of all those things, only they were committed en mass by institutions using fiat money. Crypto is a tool like any other it just depends on what you use it for.
- imtringued 5y ago
  You're wrong because Freicoin exists, and yet you're also right because nobody adopted it.
  - garmaine 5y ago
    It’s time may still come…
ignoramous 5y ago
Congratulations on the launch! A suggestion (since PeerSend is limited to payments with bitcoin / lightining?): Consider building this on top of stable coins likes USDC, DAI, either on offchain networks like celo.org, or lenders like goldfinch, or stacks like silamoney.com I really believe cross border payments is an important problem to solve (with more and more workforce going remote and products like tryjeeves, brex, usealloy atop traditional financial instruments notwithstanding) and that stable coins can enable that. Also see: paymobil.co and lastbit.io
- kevinak 5y ago
  This isn’t built on top of Bitcoin, it’s built on Bitcoin hard fork. Also, why would you use stable coins and thus adding a centralised point of failure when Bitcoin already solves this? Just use it as payment rails.
  - rglullis 5y ago
    > Also, why would you use stable coins - Because merchants do not want a volatile currency. - Because people in countries with weaker currencies might be interested in accepting/transacting in something that gives them USD/EUR/GBP/JPY. - Because there are DeFI protocols that are giving better returns than any savings account ever could.
justshowpost 5y ago
Why would anyone want to use this? The author can just advertise their preferred payment method including a BTC wallet if they like to. And the user can be sure that their money reaches the author instead of PeerSend pocketing it after 24 hours. Brave attempted this with BAT as well and it seems it was put on ice despite better browser integration and not pocketing the money after 24 hours.
lindwhi 5y ago
I don't understand how it works. Even though it was explained, I don't think it is enough for the people to determine how the system works.

47 points by umitakcn 5y ago

Hey everyone PeerSend allows you to send and receive Bitcoin SV in any website or social platform with a single click! Found an inspirational Tweet? You can reward it! Want to earn money through social media? Create content and get tips! We just launched Twitter integration yesterday and working on adding other social platforms like Twitch, Facebook and Youtube. If you want to test it out, send me your paymail address, I will send you some Bitcoin SV to test. Cheers

_ink_ 5y ago
Looks great. But choosing Bitcoin SV as underlying seems a bit unconventional. What is the rational behind it?
- bradwood 5y ago
  No good reason as far as I can see. Bitcoin SV is as dead as disco. Use something like lightning or solana or Polygon. But this? Nah...
  - andelu 5y ago
    BitcoinSV uses the UTXO model, which is easier to scale than global state models like ethereum, solana, etc. And with it's massive block size there is hope for fast payments and low fees.
    - rglullis 5y ago
      What does UTXO have anything to do with scaling of the network? Yeah, you might get more transactions per block without increasing the size too much, but to think that gives a significant advantage over account-based chains is just drinking the kool-aid. Whenever you see someone selling you the idea that there will be a massively decentralized blockchain that can reach a high number of TPS without scaling off-chain, run in the other direction.
      - andelu 5y ago
        It is widely held in the BSV community that UTXO has better scaling properties. Txs can be validated independently of other txs, alowing for parallelization of tx processing. See this for more https://www.youtube.com/watch?v=5Mhvk0U6zqE&ab_channel=UnboundedCapital https://www.youtube.com/watch?v=5Mhvk0U6zqE&ab_channel=Unbou... In account based models tx cannot be parralely validated. Please enlighten me if I have been mislead.
        rglullis 5y ago
        Yeap, this video is pure snake-oil. It overblows something that is a non-issue (ordering of the transactions) and tries to imply that is the core problem of "scaling". To put another way: if UTXO was paramount for scaling, there would be no need for BSV to exist because BTC (and BCH, LTC, Monero, Doge and so many others) are already based on UTXO. There are many other, bigger challenges and trade-offs to be considering when planning for scaling solutions. All of the solutions claiming they are scaling base-layer chains are doing so at the cost of centralization. Solana claims to make 100k+ TPS, but the amount of hardware required is incredibly expensive. Binance Chain manages to scale because it uses only 8 validator nodes. BSV is making these jumbo blocks, so the moment the network becomes popular it could be requiring 20-30GB per hour in storage, who in their right mind will want to run one of those?
- andelu 5y ago
  BitcoinSV was probably chosen since it allows using layer 1 for peer-to-peer payments, by using huge blocks. In theory this means low fees and high transactions/seconds. This makes interoperability etc simpler than many layer 2 techs.
akerl_ 5y ago
What happens if I send money to a tweet author and they don’t use PeerSend and don’t want to sign up?
- umitakcn 5y ago
  The recipient will have 24 hours to connect to PeerSend. If they don't connect in time, your payment will simply be cancelled and your money will stay in your wallet
janandonly 5y ago
Twitter is already integrating bitcoin. This app tries to implement one of the many forks “bitcoin SV”, but I think to no avail. People will use what is easiest and seeing the reel bitcoin integrated means that is what the public will be using...
rglullis 5y ago
I am really interested in the concept, but no interest whatsoever in BSV - none of the bitcoin family, but especially no interest in BSV. Is this choice a matter of circumstance (lower fees compared to BTC) or is BSV instrumental to you? If the former, may I recommend you take a look at Raiden[0], and especially the light client[1]? It would be perfect for your use case (peer-to-peer payments) and the light client has a SDK [2] which you could leverage into the extension. [0] https://raiden.network https://raiden.network [1] https://lightclient.raiden.network https://lightclient.raiden.network [2] https://lightclient.raiden.network/docs/ https://lightclient.raiden.network/docs/
- umitakcn 5y ago
  We believe BSV is an excellent blockchain to build products on, because of its scalability, sustainability, transparency, and instant transaction. Its TPS is unlimited, block size unbounded, and the average network fee is $0.0004. Also community is very important to us. BSV is being used in daily lives of many people, far more than other major cryptocurrencies, thanks to its scalability. And a lot of pioneer developers of Bitcoin & blockchain are developing on BSV. These make one very healthy community that is likely succeed.
  - rglullis 5y ago
    > Its TPS is unlimited, block size unbounded, and the average network fee is $0.0004. Look, I don't want to start a flamewar, but you KNOW that this is just marketing speak for "we have no clue what is going to happen if people actually started using the network, but we can fake it until we make it", right? If you are not even willing to make an honest assessment about the pros and cons of BSV, why should anyone trust you? But nevermind, your response was enough for me to realize that you are choosing the latter of the choices from my question. The extension is developed in order to bring utility to BSV, not as way to promote the use of crypto in general. That's a pity, because your UI is really good and it could be beneficial for a lot more use cases if it was not tied to handcash and BSV.
    - kylelee99 5y ago

ALittleLight 5y ago

The subtitle says you can send crypto "with just one click". Now, maybe I'm being a bit pedantic here but the demo shows it's 4 clicks. Click the lightning bolt, click amount, click the send button, click the X to dismiss the final modal. Maybe it's not a big difference, but how can you call 4 clicks "one click"? Typo in the subtitle too - "PeerSend lets people to freely transfer crypto"

anshorei 5y ago
> Typo in the subtitle too - "PeerSend lets people to freely transfer crypto" Typo in your fix too - "PeerSend allows people to freely transfer crypto"
- ALittleLight 5y ago
  Mine is not a fix, just a quote of the problem. I italicized the word that needs to be deleted.

rglullis 5y ago

Looks nice, but even after some browsing around I couldn't answer a very crucial question: is the handcash wallet custodial or not?

umitakcn 5y ago
Thanks, We will add this to our FAQ. HandCash in non-custodial wallet. You may have more information about it here https://handcash.medium.com/handcash-goes-keyless-b86d27339254 https://handcash.medium.com/handcash-goes-keyless-b86d273392...

TekMol 5y ago

The site seems very secretive about how it works. After reading a while, here is my educated guess: To use it, the user first needs to get ahold of Bitcoin SV somehow. Then the user needs to install their software. Since the software allows "payments" to people who do not have a public Bitcoin SV address, I guess the payment goes to PeerSend and not to the receiver. PeerSend then tries to contact the receiver and convince them to make a Bitcoin SV address. If that happens, PeerSend sends the funds to the receiver.

xiphias2 5y ago
There was another Bitcoin SV scam article just a week ago. It looks like Craig Wright is paying people to continue with it again. Maybe he has a new court appearance coming up, although I’m not following what’s happening to him.
- umitakcn 5y ago
  Unfortunately No one pays us anything and I wonder how you are so sure about something which you even don't follow.
  - deleted 5y ago
    [deleted]

ddevault 5y ago

Cryptocurrency is an illegitimate industry founded on scams, ponzi schemes, and incredible waste. This is an immoral project which should not exist.

Cymrukicks 5y ago
Bitcoin was founded on that back of all those things, only they were committed en mass by institutions using fiat money. Crypto is a tool like any other it just depends on what you use it for.
imtringued 5y ago
You're wrong because Freicoin exists, and yet you're also right because nobody adopted it.
- garmaine 5y ago
  It’s time may still come…

ignoramous 5y ago

Congratulations on the launch! A suggestion (since PeerSend is limited to payments with bitcoin / lightining?): Consider building this on top of stable coins likes USDC, DAI, either on offchain networks like celo.org, or lenders like goldfinch, or stacks like silamoney.com I really believe cross border payments is an important problem to solve (with more and more workforce going remote and products like tryjeeves, brex, usealloy atop traditional financial instruments notwithstanding) and that stable coins can enable that. Also see: paymobil.co and lastbit.io

kevinak 5y ago
This isn’t built on top of Bitcoin, it’s built on Bitcoin hard fork. Also, why would you use stable coins and thus adding a centralised point of failure when Bitcoin already solves this? Just use it as payment rails.
- rglullis 5y ago
  > Also, why would you use stable coins - Because merchants do not want a volatile currency. - Because people in countries with weaker currencies might be interested in accepting/transacting in something that gives them USD/EUR/GBP/JPY. - Because there are DeFI protocols that are giving better returns than any savings account ever could.

justshowpost 5y ago

Why would anyone want to use this? The author can just advertise their preferred payment method including a BTC wallet if they like to. And the user can be sure that their money reaches the author instead of PeerSend pocketing it after 24 hours. Brave attempted this with BAT as well and it seems it was put on ice despite better browser integration and not pocketing the money after 24 hours.

lindwhi 5y ago

I don't understand how it works. Even though it was explained, I don't think it is enough for the people to determine how the system works.