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You are misunderstanding the op. He wants a payment processor for merchants, eg. bitpay. 1% transaction fee Exchanges then have a: - 0,1 % withdrawal fee -

You are misunderstanding the op. He wants a payment processor for merchants, eg. bitpay. 1% transaction fee Exchanges then have a: - 0,1 % withdrawal fee - Unknown/hidden? currency conversion fee. I would think there is a fee here, but i didn't find it documented. Additionally, exchanges like Binance are banned in many places ( because of tether fraud). Coinbase would be one of the only exchanges to consider as a business in eg. The US.

rvz 5y ago
And this has all been solved with the USDC stablecoin sitting on cryptocurrencies like Stellar. Just use that. Job done. Downvoters: So you are saying businesses can't use it?
- NicoJuicy 5y ago
  USDC != USD. Pegged to it doesn't mean it's the same. While USDC is backed by Coinbase and more trustworthy than Tether. A lot of it is still going to uncharted territory.
  - rvz 5y ago
    > USDC != USD Never said that. I'm only saying businesses can use it. This is you from [0]: > That's not doable in practise. So a business cannot use USDC on some cryptocurrency like Stellar today then? [1] So the concerns of high transaction fees, unstable price fluctuations and slow transfers which are all the properties of using payments with Bitcoin are somehow not solved because of USDC and it being built on cryptocurrencies like Stellar? are you sure? [0] https://news.ycombinator.com/item?id=29735980 https://news.ycombinator.com/item?id=29735980 [1] https://ir.moneygram.com/news-releases/news-release-details/moneygram-announces-innovative-partnership-stellar-development https://ir.moneygram.com/news-releases/news-release-details/...
    - NicoJuicy 5y ago
      Will this fare better than their ripple partnership where the SEC intervened? Still, this doesn't address the fact that the op will lose a lot of business with solely crypto. Therefore, it isn't an answer to his question. So it's not doable in practise. Except if you want to lose a lot of money if you solely accept crypto. This has all happened before in 2017. And shortly after crypto was removed as payment option almost everywhere. Nothing fundamentally has changed since 2017. If so, what?
      - rvz 5y ago
        > Will this fare better than their ripple partnership where the SEC intervened? Why not ask MoneyGram? Maybe they can give you a better answer than I or anyone else here could. > Still, this doesn't address the fact that the op will lose a lot of business with solely crypto. Solely? I don't think that is what you said originally, was it? [0] From [0] > That's not doable in practise. > - You would immediately take a hit, because crypto payments are not popular. > - Currency/btc conversion fees are more expensive than any transaction fee. > Many ecoms added support in 2017 and removed that functionality again. > There's no interest for buying things that isn't part of the "pump and dump" scheme. NFT's are probably the only thing, since they hope to resell it for more money. It seems that you have decided to change your argument to 'solely' as soon as you saw my comment disproving your nonsense (with examples) and now you have started splitting hairs to present an illusion that businesses cannot use or accept cryptocurrencies. (and survive) So OpenSea / Rarible / Dent Wireless are not businesses only accepting cryptocurrencies then? > This has all happened before in 2017. And shortly after crypto was removed add payment option almost everywhere. > Nothing fundamentally has changed since 2017. If so, what? Right so it will happen again in 2021, 2022 then? So in 2021, MoonPay, BitPay, Coinbase Commerce and Circle.com enabled businesses do not allow their customers like VISA, AMC and Shopify to accept cryptocurrencies and stablecoins like USDC? [0] https://news.ycombinator.com/item?id=29735980 https://news.ycombinator.com/item?id=29735980
        NicoJuicy 5y ago
        OpenSea is not products. Buyers think they will earn money from it and are prepared to put their HODL coin in it to earn more. It's one big piramid scheme. Rarible is similar. It's not comparable to e-commerce. NFT's in it's current state is literally the perfect product for HOLD'ers if you think about it. As said before, this all happened in the past. Woocommerce, Steam, Amazon, Stripe, ... All added it and removed it. Only square kept it. The current hype is just the same that started with failing business trying to jump in it ( eg. Kodak and KodakCoin). Visa and others do want to protect themselves. But even Stripe currently started again a team for crypto with 5 person while they anandoned it in the past. Nothing says it will be important, it's a matter of "what if", just like in 2017. Either way, this topic is about lowering transaction fees. Changing to crypto would lose a lot of business. As such, the "patent answer" here is not doable for a business. What's so hard to understand? You're not going to switch a business to a payment option that only represents 2% of possible transactions. There's currently a lot of FUD. But it's all going away when BTC drops again. It only took a pandemic previous time to reverse Bitcoin from a multi-year decline.

rvz 5y ago

And this has all been solved with the USDC stablecoin sitting on cryptocurrencies like Stellar. Just use that. Job done. Downvoters: So you are saying businesses can't use it?

NicoJuicy 5y ago
USDC != USD. Pegged to it doesn't mean it's the same. While USDC is backed by Coinbase and more trustworthy than Tether. A lot of it is still going to uncharted territory.
- rvz 5y ago
  > USDC != USD Never said that. I'm only saying businesses can use it. This is you from [0]: > That's not doable in practise. So a business cannot use USDC on some cryptocurrency like Stellar today then? [1] So the concerns of high transaction fees, unstable price fluctuations and slow transfers which are all the properties of using payments with Bitcoin are somehow not solved because of USDC and it being built on cryptocurrencies like Stellar? are you sure? [0] https://news.ycombinator.com/item?id=29735980 https://news.ycombinator.com/item?id=29735980 [1] https://ir.moneygram.com/news-releases/news-release-details/moneygram-announces-innovative-partnership-stellar-development https://ir.moneygram.com/news-releases/news-release-details/...
  - NicoJuicy 5y ago
    Will this fare better than their ripple partnership where the SEC intervened? Still, this doesn't address the fact that the op will lose a lot of business with solely crypto. Therefore, it isn't an answer to his question. So it's not doable in practise. Except if you want to lose a lot of money if you solely accept crypto. This has all happened before in 2017. And shortly after crypto was removed as payment option almost everywhere. Nothing fundamentally has changed since 2017. If so, what?
    - rvz 5y ago
      > Will this fare better than their ripple partnership where the SEC intervened? Why not ask MoneyGram? Maybe they can give you a better answer than I or anyone else here could. > Still, this doesn't address the fact that the op will lose a lot of business with solely crypto. Solely? I don't think that is what you said originally, was it? [0] From [0] > That's not doable in practise. > - You would immediately take a hit, because crypto payments are not popular. > - Currency/btc conversion fees are more expensive than any transaction fee. > Many ecoms added support in 2017 and removed that functionality again. > There's no interest for buying things that isn't part of the "pump and dump" scheme. NFT's are probably the only thing, since they hope to resell it for more money. It seems that you have decided to change your argument to 'solely' as soon as you saw my comment disproving your nonsense (with examples) and now you have started splitting hairs to present an illusion that businesses cannot use or accept cryptocurrencies. (and survive) So OpenSea / Rarible / Dent Wireless are not businesses only accepting cryptocurrencies then? > This has all happened before in 2017. And shortly after crypto was removed add payment option almost everywhere. > Nothing fundamentally has changed since 2017. If so, what? Right so it will happen again in 2021, 2022 then? So in 2021, MoonPay, BitPay, Coinbase Commerce and Circle.com enabled businesses do not allow their customers like VISA, AMC and Shopify to accept cryptocurrencies and stablecoins like USDC? [0] https://news.ycombinator.com/item?id=29735980 https://news.ycombinator.com/item?id=29735980
      - NicoJuicy 5y ago
        OpenSea is not products. Buyers think they will earn money from it and are prepared to put their HODL coin in it to earn more. It's one big piramid scheme. Rarible is similar. It's not comparable to e-commerce. NFT's in it's current state is literally the perfect product for HOLD'ers if you think about it. As said before, this all happened in the past. Woocommerce, Steam, Amazon, Stripe, ... All added it and removed it. Only square kept it. The current hype is just the same that started with failing business trying to jump in it ( eg. Kodak and KodakCoin). Visa and others do want to protect themselves. But even Stripe currently started again a team for crypto with 5 person while they anandoned it in the past. Nothing says it will be important, it's a matter of "what if", just like in 2017. Either way, this topic is about lowering transaction fees. Changing to crypto would lose a lot of business. As such, the "patent answer" here is not doable for a business. What's so hard to understand? You're not going to switch a business to a payment option that only represents 2% of possible transactions. There's currently a lot of FUD. But it's all going away when BTC drops again. It only took a pandemic previous time to reverse Bitcoin from a multi-year decline.