Purchase resources via cryptocurrency

[Member]

Hey there, thought about making this suggestion for a whole but it never seemed logical for the amount of development it would take as Mick said, although today 'Coinbase Commerce' was released, viewable here: https://commerce.coinbase.com

Seems as though it'd be much easier to integrate this now, and this doesn't necessarily need to be just for resources.

All feedback appreciated, danke

 

[Member]

Those who disagree, please comment why you disagree.

This would completely remove the risk of chargebacks on crypto purchases, so resource creators could feel more safe on certain purchases.

 

[Louwtjie]

I'd like to see this but the thing is crypto is very hard to get "confirmation" so people can wait a long time before it is even confirmed and just a waste of time.

Not only that but for some countries you cannot use bitcoin via coinbase as it blocks you

- South Africa for example. We cannot buy/Sell or trade (Trade includes that API)

 

[Member]

I'd like to see this but the thing is crypto is very hard to get "confirmation" so people can wait a long time before it is even confirmed and just a waste of time.

Not only that but for some countries you cannot use bitcoin via coinbase as it blocks you

- South Africa for example. We cannot buy/Sell or trade (Trade includes that API)

1) Understandabke, although ETH/LTC takes a lot less time than BTC so most likely payments would be confirmed within 15 minutes

2) I understand that drawback, similar to PayPal limiting some countries to only G/S payments so I guess everything has its faults.

Thanks for the response anyway, just thought I'd put this idea up as it'd be a great advancement which might not take too much development now

 

[MarkElf]

Some people like myself have no use for cyptocurrency. Simply, if it isn't broken, don't fix it. PayPal money can be swapped afterwords for bitcoin or whatever kids use these days as currently after regular purchases. If someone wants to buy a resource via crypto currency, the resource seller's can include that on his or her resource, have the buyer message them, and after the payment (That last I heard was anonymous so it's not like buyers can exactly be confirmed it manually if you have several transactions at once) is confirmed, the resource seller's can generate a license for the buyer.

 

[Bitcoin]

I believe that more companies will soon grab Crypto as a form of payment everyday. In an ever-changing world, we need to adapt to what is happening around us. I believe that Blockchain Technology is the future, and that is why I agree with this. This would encourage transactions by Crypto on the site. Crypto will become a mainstream thing, whether you like it or not.

 

[MarkElf]

I believe that more companies will soon grab Crypto as a form of payment everyday. In an ever-changing world, we need to adapt to what is happening around us. I believe that Blockchain Technology is the future, and that is why I agree with this. This would encourage transactions by Crypto on the site. Crypto will become a mainstream thing, whether you like it or not.

Ironically, I wrote a 10 page paper on the topic of cryptocurency becoming mainstream. Several economic scholars basically concluded that till stores begin to accept bitcoin, people aren't going to use bitcoin, and people aren't going to use bitcoin till stores accept the currency. Basically another chicken and the egg situation as far as which comes first. So mainstream as far as irl, not so much just yet, on the internet perhaps but slowly.

Just wanted to drop my 2 cents on cryptocurency being mainstream, nothing aimed directly towards you.

 

[Bitcoin]

Ironically, I wrote a 10 page paper on the topic of cryptocurency becoming mainstream. Several economic scholars basically concluded that till stores begin to accept bitcoin, people aren't going to use bitcoin, and people aren't going to use bitcoin till stores accept the currency. Basically another chicken and the egg situation as far as which comes first. So mainstream as far as irl, not so much just yet, on the internet perhaps but slowly.

Just wanted to drop my 2 cents on cryptocurency being mainstream, nothing aimed directly towards you.

I agree with what you said, and I think that it is correct. I just want a marketplace like this (Even if it is small) to start encouraging this technology.

 

[Grace.]

It would be a nice feature, but this is one of those things, you know Mick isn't gonna implement.

 

[Member]

Some people like myself have no use for cyptocurrency. Simply, if it isn't broken, don't fix it. PayPal money can be swapped afterwords for bitcoin or whatever kids use these days as currently after regular purchases. If someone wants to buy a resource via crypto currency, the resource seller's can include that on his or her resource, have the buyer message them, and after the payment (That last I heard was anonymous so it's not like buyers can exactly be confirmed it manually if you have several transactions at once) is confirmed, the resource seller's can generate a license for the buyer.

1) 'If it isn't broken, don't fix it' ---- that is not how to run a business lol

2) Your idea of 'the buyer can message the seller and do it that way' kinda thing ---- That isn't how a 'business' should work, you should have everything as automated as possible

It would be a nice feature, but this is one of those things, you know Mick isn't gonna implement.

Eh, I understand previously it may of seemed a bit too much work; but now with 'Coinbase Commerce', I'm pretty sure the developers could have this done relatively quickly compared to before.

 

[Ivain]

Well, as long as its an option that needs to be turned on and doesnt require custom development to be safe, I guess it's fair enough. However, Im not sure many resource creators want to accept crypto now that so many currencies are being VERY volatile

 

[Verang]

Crypto currencies are unstable. Use your logic now why would that cause an issue, sorry no.

 

[Member]

Well, as long as its an option that needs to be turned on and doesnt require custom development to be safe, I guess it's fair enough. However, Im not sure many resource creators want to accept crypto now that so many currencies are being VERY volatile

Understandable, my responses to this are

1) I absolutely agree it should be toggle-able whether you accept Crypto or not, just like 'sellfy' has.
2) Cryptocurrencies may be volatile but the 'Coinbase Commerce' only consists of - BTC, ETH, LTC, BCH - which are still volatile but not like other altcoins.

Crypto currencies are unstable. Use your logic now why would that cause an issue, sorry no.

Like I said above, it would be toggleable whether you accept crypto or not. Some people are smart enough to see and understand crypto and notice that you can even sell it on here instantly for like a 10% profit into FIAT (which would be paid in f&f unlike the g&s of resources therefore safer)

 

[Verang]

Understandable, my responses to this are

1) I absolutely agree it should be toggle-able whether you accept Crypto or not, just like 'sellfy' has.
2) Cryptocurrencies may be volatile but the 'Coinbase Commerce' only consists of - BTC, ETH, LTC, BCH - which are still volatile but not like other altcoins.


Like I said above, it would be toggleable whether you accept crypto or not. Some people are smart enough to see and understand crypto and notice that you can even sell it on here instantly for like a 10% profit into FIAT (which would be paid in f&f unlike the g&s of resources therefore safer)

That makes no sense, anyone with a working brain could understand that if crypto has a huge downfall (as seen on bitcoin) their product could be worthless time to time. It just won't work simple as that. You asked for my opinion why are you arguing with it? Anything unstable is worthless.

 

[Member]

That makes no sense, anyone with a working brain could understand that if crypto has a huge downfall (as seen on bitcoin) their product could be worthless time to time. It just won't work simple as that. You asked for my opinion why are you arguing with it? Anything unstable is worthless.

I asked for opinions and I then respond to the queries they pose attempting to reach a sort of understanding.
You talk like

Use your logic now why would that cause an issue

and

anyone with a working brain could understand that

so if you want my opinion you should probably try and act a little nicer towards a suggestion that somebody has posed.

Please do feel free to not respond to this thread again considering you have a fixed position on this and aren't willing to come into the 21st century clearly. Thanks

 

[Jack]

Crypto currencies are unstable. Use your logic now why would that cause an issue, sorry no.

Transfer to USDT then. Although there’s been a bit of shit about Tether lately, it has managed to stay fairly close to USD, give or take a few cents.

 

[Member]

Transfer to USDT then. Although there’s been a bit of shit about Tether lately, it has managed to stay fairly close to USD, give or take a few cents.

exactly, USDT normally fluctuates like 1% and in all fairness that's kinda similar to USD/GDP conversion

 

[Verang]

Mick Can you come to a decision already, we really want to see what's gonna happen with this suggestion

 

[Mick]

Since the time this suggestion was made, it's safe to say that the hype around crypto currency and its overall prevalence on the site has dropped significantly. Allowing crypto to be used by people when selling their resources wouldn't be possible without custom development, and I'm hesitant to custom develop a payment system due to the potentials for major exploits. PayPal is the primary payment system used on the site, so as long as that's accepted I think that is enough for the moment. If in a years time bitcoin (or some other crypto) is extremely popular and used by everyone then I guess we can look into getting it done properly, but it doesn't seem worth it at the moment.

Denied, thanks for the suggestion.