I'm reasonably well known in the early history of the Internet
(Trusting you to not just claim you are that John Nagle of course)
Indeed you are, thanks for the clarification. I read your posts differently knowing that.
Topic: [ANN] Bit-Pay Mobile Checkout - this changes everything! - page 2. (Read 7914 times)
(Trusting you to not just claim you are that John Nagle of course)
Indeed you are, thanks for the clarification. I read your posts differently knowing that.
you know, you should just STFU. we all know you're a paid shill basher of bitcoin. otherwise, you wouldn't be spending so much time here and you would've taken my bet of 100 BTC to you. when bitcoin skyrockedts again, you're gonna lose your job.
Nagle, I would love to hear your reply to cypherdoc's accusations. From the posts I have read from both of you, it would seem that cypherdoc's assessment is correct.
No one is paying me. Nor do I need a job. I'm not anonymous. I'm on here under my real name, John Nagle. I'm reasonably well known in the early history of the Internet; look in any TCP/IP textbook. I've run "downside.com" for the last 10 years, and have a good track record in publicly predicting what's going to collapse well before it does. I called the dot-com crash company by company with a automated simple cash flow analysis, the mortgage crisis (in 2004, 2006, and 2007), the oil spike (in 2005), and the auto industry bankruptcies, back when the conventional wisdom was that the world economy had reached a "great moderation". I was right, and many others were wrong.
So who is this "cypherdoc" person, anyway?
OK, that's a quick start. We now know that "bit-pay" is operating out of an house, who's behind it, and some other things they're doing. So if they "lose" any funds, it's clear where to send lawyers and cops.
I expect to see contractual statements like "all payments made after NNN will be transmitted to ACH by NNN".
They have all of those covered on their website.
https://bit-pay.com/legal.html
No, they do not. They have an "acceptable use policy", plagiarized from PayPal's acceptable use policy, and a "privacy policy", plagiarized from PayPal's privacy policy). They do not have any terms which contractually bind "bit-pay" with regard to financial transactions.
This is important. Potential merchants need to know about transaction reversals, chargebacks, payout limitations, delays in payment, separation of customer funds from company funds, and dispute resolution procedures. All of those areas have created major problems for users of other Bitcoin-related services.
This is two guys with no financial experience operating out of a house in Florida. The odds are that they will screw up. Merchants need legal protection for when they do.
you know, you should just STFU. we all know you're a paid shill basher of bitcoin. otherwise, you wouldn't be spending so much time here and you would've taken my bet of 100 BTC to you. when bitcoin skyrockedts again, you're gonna lose your job.
Nagle, I would love to hear your reply to cypherdoc's accusations. From the posts I have read from both of you, it would seem that cypherdoc's assessment is correct.
This is two guys with no financial experience operating out of a house in Florida. The odds are that they will screw up. Merchants need legal protection for when they do.
A little harsh, but they should have hired a lawyer to do their legal. They are nice enough guys in person.
You really want to know what their terms are before even talking to them.
This matters a lot. PayPal is noted for one-sided terms of service. WePay, which was supposed to be a better alternative to PayPal, originally had terms of service like "we can cancel your account and keep the money". They've since fixed that. Dwolla started with no written terms of service and then started reversing transactions. Mt. Gox still doesn't have terms of service, and has reversed transactions.
The online money transfer industry has a bad record, and the Bitcoin-related operators have an even worse one.
i think it would also help a lot if every place that employs this also has some free wi-fi to piggy-back off.
i wonder if it would be possible for the merchant to configure a specialised wi-fi hotspot that only allows bitcoin transactions, and no other internet traffic?
i wonder if it would be possible for the merchant to configure a specialised wi-fi hotspot that only allows bitcoin transactions, and no other internet traffic?
OK, that's a quick start. We now know that "bit-pay" is operating out of an house, who's behind it, and some other things they're doing. So if they "lose" any funds, it's clear where to send lawyers and cops.
I expect to see contractual statements like "all payments made after NNN will be transmitted to ACH by NNN".
They have all of those covered on their website.
https://bit-pay.com/legal.html
No, they do not. They have an "acceptable use policy", plagiarized from PayPal's acceptable use policy, and a "privacy policy", plagiarized from PayPal's privacy policy. They do not have any terms which contractually bind "bit-pay" with regard to financial transactions.
This is important. Potential merchants need to know about transaction reversals, chargebacks, payout limitations, delays in payment, separation of customer funds from company funds, and dispute resolution procedures. All of those areas have created major problems for users of other Bitcoin-related services.
This is two guys with no financial experience operating out of a house in Florida. The odds are that they will screw up. Merchants need legal protection for when they do.
A little harsh, but they should have hired a lawyer to do their legal. They are nice enough guys in person.
Stupid, serious question: Is it too high tech? Why not just print up a QR code included on person's bill? He can leave cash or pay with bitcoins or any mix of that. This way, you only need the customer to have internet. Waitress can check the terminal in back to verify payment came through. Or print up 100 qrcodes before and hand them to customer. Waitress would write total due on the sheet of paper.
Putting a QR code on the paper receipt at the customer's table is a great idea. Waitress drops it at the table, customer scans it, sends the coins needed plus tip, and then the waitress should be able to verify the transaction back on that fancy little touchscreen they use in the back to manage bills.
It's also great from a marketing perspective...if every bill has a QR code and a caption below that says "Pay with Bitcoin", then every patron will see that on the their bill, regardless of whether they actually pay with bitcoin or not.
Wow I didn't even consider that... that would be killer.
Stupid, serious question: Is it too high tech? Why not just print up a QR code included on person's bill? He can leave cash or pay with bitcoins or any mix of that. This way, you only need the customer to have internet. Waitress can check the terminal in back to verify payment came through. Or print up 100 qrcodes before and hand them to customer. Waitress would write total due on the sheet of paper.
Putting a QR code on the paper receipt at the customer's table is a great idea. Waitress drops it at the table, customer scans it, sends the coins needed plus tip, and then the waitress should be able to verify the transaction back on that fancy little touchscreen they use in the back to manage bills.
It's also great from a marketing perspective...if every bill has a QR code and a caption below that says "Pay with Bitcoin", then every patron will see that on the their bill, regardless of whether they actually pay with bitcoin or not.
Stupid, serious question: Is it too high tech? Why not just print up a QR code included on person's bill? He can leave cash or pay with bitcoins or any mix of that. This way, you only need the customer to have internet. Waitress can check the terminal in back to verify payment came through. Or print up 100 qrcodes before and hand them to customer. Waitress would write total due on the sheet of paper.
Putting a QR code on the paper receipt at the customer's table is a great idea. Waitress drops it at the table, customer scans it, sends the coins needed plus tip, and then the waitress should be able to verify the transaction back on that fancy little touchscreen they use in the back to manage bills.
+1 to that. Integration with current hardware is probably difficult though...
Stupid, serious question: Is it too high tech? Why not just print up a QR code included on person's bill? He can leave cash or pay with bitcoins or any mix of that. This way, you only need the customer to have internet. Waitress can check the terminal in back to verify payment came through. Or print up 100 qrcodes before and hand them to customer. Waitress would write total due on the sheet of paper.
Putting a QR code on the paper receipt at the customer's table is a great idea. Waitress drops it at the table, customer scans it, sends the coins needed plus tip, and then the waitress should be able to verify the transaction back on that fancy little touchscreen they use in the back to manage bills.
Stupid, serious question: Is it too high tech? Why not just print up a QR code included on person's bill? He can leave cash or pay with bitcoins or any mix of that. This way, you only need the customer to have internet. Waitress can check the terminal in back to verify payment came through. Or print up 100 qrcodes before and hand them to customer. Waitress would write total due on the sheet of paper.
It's actually more of an issue for the customer to have internet than the restaurant. There are lots of possible ways to make it work. This is just a small step in the right direction and something easy for us to do. Ultimately, it would be nice to do away with the use of paper altogether...either restaurant checks or FRNs
. We'll be piloting this with a few restaurants to see how well it works in practice and go from there.
Stupid, serious question: Is it too high tech? Why not just print up a QR code included on person's bill? He can leave cash or pay with bitcoins or any mix of that. This way, you only need the customer to have internet. Waitress can check the terminal in back to verify payment came through. Or print up 100 qrcodes before and hand them to customer. Waitress would write total due on the sheet of paper.
No, they do not. They have an "acceptable use policy", plagiarized from PayPal's acceptable use policy, and a "privacy policy", plagiarized from PayPal's privacy policy). They do not have any terms which contractually bind "bit-pay" with regard to financial transactions.
You'll find these same clauses in the terms of virtually every payment service on the internet because they all face similar risks.Quote
This is important. Potential merchants need to know about transaction reversals, chargebacks, payout limitations, delays in payment, separation of customer funds from company funds, and dispute resolution procedures. All of those areas have created major problems for users of other Bitcoin-related services.
To the extent the policies leave any questions that our merchants might have, we answer them. Some of the details of how we process payments are not visible unless you've opened an account.Quote
This is two guys with no financial experience operating out of a house in Florida. The odds are that they will screw up. Merchants need legal protection for when they do.
That's not true, we operate out of two houses, one in Florida and another in Georgia. Tony has experience as a merchant for over 10 years and I have experience in building and managing the development of financial software. We both have prior experience in owning and operating small businesses. 
"all payments made after NNN will be transmitted to ACH by NNN".
That is stated clearly on their website for all merchants:
https://bit-pay.com/accountingHelp.html
OK, that's a quick start. We now know that "bit-pay" is operating out of an house, who's behind it, and some other things they're doing. So if they "lose" any funds, it's clear where to send lawyers and cops.
I expect to see contractual statements like "all payments made after NNN will be transmitted to ACH by NNN".
They have all of those covered on their website.
https://bit-pay.com/legal.html
No, they do not. They have an "acceptable use policy", plagiarized from PayPal's acceptable use policy, and a "privacy policy", plagiarized from PayPal's privacy policy). They do not have any terms which contractually bind "bit-pay" with regard to financial transactions.
This is important. Potential merchants need to know about transaction reversals, chargebacks, payout limitations, delays in payment, separation of customer funds from company funds, and dispute resolution procedures. All of those areas have created major problems for users of other Bitcoin-related services.
This is two guys with no financial experience operating out of a house in Florida. The odds are that they will screw up. Merchants need legal protection for when they do.
you know, you should just STFU. we all know you're a paid shill basher of bitcoin. otherwise, you wouldn't be spending so much time here and you would've taken my bet of 100 BTC to you. when bitcoin skyrockedts again, you're gonna lose your job.
OK, that's a quick start. We now know that "bit-pay" is operating out of an house, who's behind it, and some other things they're doing. So if they "lose" any funds, it's clear where to send lawyers and cops.
I expect to see contractual statements like "all payments made after NNN will be transmitted to ACH by NNN".
They have all of those covered on their website.
https://bit-pay.com/legal.html
No, they do not. They have an "acceptable use policy", plagiarized from PayPal's acceptable use policy, and a "privacy policy", plagiarized from PayPal's privacy policy. They do not have any terms which contractually bind "bit-pay" with regard to financial transactions.
This is important. Potential merchants need to know about transaction reversals, chargebacks, payout limitations, delays in payment, separation of customer funds from company funds, and dispute resolution procedures. All of those areas have created major problems for users of other Bitcoin-related services.
This is two guys with no financial experience operating out of a house in Florida. The odds are that they will screw up. Merchants need legal protection for when they do.
OK, that's a quick start. We now know that "bit-pay" is operating out of an house, who's behind it, and some other things they're doing. So if they "lose" any funds, it's clear where to send lawyers and cops.
I expect to see contractual statements like "all payments made after NNN will be transmitted to ACH by NNN".
They have all of those covered on their website.
https://bit-pay.com/legal.html
OK, that's a quick start. We now know that "bit-pay" is operating out of an house, who's behind it, and some other things they're doing. So if they "lose" any funds, it's clear where to send lawyers and cops.
Bitcoin's anonymous "financial institutions" have a terrible track record. New ones need to be checked out thoroughly. Who's behind them? Do they have a history of success doing anything else? What do they commit to contractually? How are disputes resolved?
I expect to see contractual statements like "all payments made after NNN will be transmitted to ACH by NNN". Reliably getting cash out of Bitcoin's "financial institutions" has been hard. About once a week, someone is complaining that one of the exchanges was supposed to send them money but hasn't. Then we hear someone from the exchange claiming that their bank has dumped them, or their money transfer service is down, or some other "cat ate my homework" excuse for not paying on time.
Has anyone told you that you kind of look like Nicolas Cage? 
Congratulations, a great product to be sure!
Congratulations, a great product to be sure!
This is seriously awesome.
Now I need to find Bitcoin businesses in the MSP area! C'mon, Minnesota, get with it!
-Jix
Now I need to find Bitcoin businesses in the MSP area! C'mon, Minnesota, get with it!
-Jix
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