Topic: BITCOIN IS TOO SLOW TO EVER SUCCEED AS ONLINE CURRENCY - page 3. (Read 2804 times)

Nice one thanks, have PM you.

What I am looking for is simply a "paypal" style buy now button for bitcoin. Bitpay is very lacking in options etc.

We are not willing to invest heavy in carts etc for bitcoin so we want test is the most cost effective way we can. Copy paste buy now and promote accepting bitcoins and see just how many sales we actually get. Of course if goes well, worth investing in full system to manage.

Also likely offer discount to any customer that pays in BTC, cash always talks .

Some food for thought:
https://blockchain.info/charts/avg-confirmation-time

Average confirmation time appears to be going down over time.

That said, I once had a BTC transaction take nearly a month to get confirmed. Special case, but still.

The advanced api lets you add virtually any item at any price.. Its not really that complex.. Pm me if you need help. Also google for bitpay api.

Payment takes literally less than 15 seconds after the tx is broadcast..

Of course thats because they use zero confirmarions to notify the buyer.

For the merchant to actually have guarantee of payment, would take about an hour... But it takes 90 days on paypal, so its much better.

Yes, still waiting for response from bitpay about their button system, hoping they can advance beyond a one product based concept. Often merchants need various shipping rates, sizes, colors, options etc which so far I have not found a "buy now" button that can do that. If there is, please let me know.

And the share number of posts about transaction times in bitcoin, people waiting hours for confirmations etc should somewhat balance the simple point I am making. Still baffled how easily offended it would seem some bitcoin supporters are.

You should compare MtGox (BitPay or whatever) to Paypal; or compare Bitcoin to Dollars.  You are comparing apples to oranges.  Bitcoin moves way faster than my dollars ever had.

Actually I say lets have a race!  Bitcoin vs PayPal.  I bet Paypal is slower to show your updated balance if I sent you money.

I assume you've set up https://bitpay.com/

If you are a 20 year vet of e-commerce (!) then you would find they are exactly what you are looking for

works well with most of the big name e-commerce systems.

Yes thanks for that .

Just need to get more merchants and or systems that offer this. I'm yet to spend any BTC online and get a Click Done Purchase.

I greatly appreciate the subtle insults etc but as you say, a little knowledge is dangerous. Heroes and Full wrongly assume that because someone is "new" to here, they are new to the internet or eCommerce.

I am more than familiar with paypal, fiat currency, chargebacks and its weaknesses and am very much behind bitcoin and want to see it succeed and work. I have been an online merchant for over 20 years and bitcoin, for me, is more than brilliant. I want to incorporate into my own online business asap and I wish to apply my time, knowledge and efforts to pushing bitcoin to its full potential.

And yes, I would love to create a payment service in bitcoin that does just that, anyone interested let me know. Paysius, Bitpay etc and current solutions are lacking in many areas and missing opportunity to get more merchants on board in a user friendly way.

For example: I am yet to see any "BTC" payment provider offer a simple copy/paste "buy now" button as structured as "paypal". Paypal is quite crap enough so if nobody can even offer a buy now button as flexible then room for improvement for sure.

That said, my point is simple; and it would seem many have missed it but quick to judge, slow to learn.

I am simply reminding us all that, of the 100'000's of online customers I have dealt with, and the many other online businesses I have dealt with all agree on one thing.

Customers are a pain in the ass ..and online even more so, as they want instant. Not 5 mins, not even 1 min. CLICK DONE.

So whether it be new services, changes of merchant behavior or whatever, the fact still stands that the wider population of online spenders (yes there are millions online who do not use this forum) will want an Instant Click Done process before bitcoin can become mainstream online and surpass the other payment methods.

As to how this simple fact seems to have upset so many people is beyond me. If we are to support and drive bitcoin forward then these are some of the many issues we need to face and find solutions for.

They say a little knowledge is a dangerous thing.

Firstly, I would suggest you read the original bitcoin whitepaper.  You'll notice that bitcoin is artificially limited.  If you want it to go faster, there is no reason why it can't, however, you will find that doing it before we have enough users, will make the cost of transactions higher.

The confirmation count is just best practice.  Paypal do this through insurance, hence the reason you can find the sale goes through instantly, but if something goes wrong, you lose your money at a later date.  E-commerce is well known for the fraud opportunity it offers, and how its the e-commerce owners who end up taking the hit - thanks to the credit card companies subtly changing their T&Cs over the years!

Bitcoin can make transactions a lot cheaper by removing credit card company fees and the speed of confirmations is a choice the retailers make - but its early days, they will learn that they can control their own risk vs speed of transactions, but its better to start by using best practice!

As I said, a little knowledge can be dangerous!

https://en.bitcoin.it/wiki/Myths#Point_of_sale_with_bitcoins_isn.27t_possible_because_of_the_10_minute_wait_for_confirmation

IMHO accepting credit cards is riskier than 0-confirmation bitcoin transactions (of course with a reasonable fee and listening a few seconds for double spends)

Actually bitcoinologist has a good point, so maybe he's not just jet another Rothschild henchman .
Tested bitcoin transaction speed on my wife and finally she grabbed my VISA card. As she said if
she wants something then she wants it right now. Not 10 minutes later, not 5 minutes later but
right NOW. Real inpatient daughter of Eve...

since the new client came out.. its not to bad.. beats having to wait a week to update if your a week behind.

OP should learn how to write in lower case

Take a look at http://qubic.boards.net/index.cgi?board=theconcept&action=display&thread=1. Estimated transaction confirmation is less than 1 minute.

Try using Paypal to make micropayments. Try paying websites cents on the dollar to access them or fractions of a cent and see how those websites feel about their long term profits from that.

Bitcoin is a different story. You pay a site fractions of a cent in Bitcoin and at the end of the year it's dollars.

Yep, just require customer data (email, name, address, etc.) and blacklist the customer / don't ship / stop service if it doesn't confirm later.

The choice as I see it:

1. Use a depreciating currency on a system that tracks and monitors your every move and might even report a transaction to the government. For everyone's safety, of course.

2. Use a system that has instant transactions and variable confirmation times but allows for far greater flexibility in storage, sending and identity protection. It's also gaining in value.

Which one would a rational person use?

actually, bitcoin transactions are faster than paypal/credit card transacrions.

you can count a CC/PayPal transaction roughly as final as a bitcoin 0-confirmation, the speed here is the same (instant). however, PP/CC can be reversed for months after the transaction, bitcon transactions cannot be reversed after a few confirmations.

Paypal takes 90 days to confirm a transaction - they can reverse it anytime in the interim.
Bitcoin takes 1 hour.