Topic: BITCOIN.ORG questions about the platform. (Read 475 times)

I tought i'd chip in on answer 2 and 3. I agree with the things OmegaStarScream said, but i tought i'd add some extra things i tought of when reading his answers.

Answer 2: if you're going to handle a lot of coins (you say you're a big affiliate program), you might want to read up on cold storage and hardware wallets. It might not be safe to have a lot of coins in a "hot" (online) wallet.
Answer 3: bitcoin core comes with a daemon which can be connected trough with json-rpc calls. I think electrum also allows api calls. There are also some payment gateways that offer api access, but if you're really big, it might be best to run your own node, and connect to it directly (but make sure everything is fully secured. A bitcoin is currently worth over $500 at current exchange rate, it's not safe to play with them... To develop stuff, you may want to read up about testnet)

1. There is a lot of methods , It all depends on the payment method you are willing to use . If you want to use Paypal then I'd suggest using Virwox.com (fees are a little bit high) but it's a legit service (they accept Paysafecard , Skrill, and others too) . If you want to use your bank account then there is Coinbase otherwise, you can post in Bitcointalk (Currency exchange section) with your payment method and how much you want to sell or buy and people will contact you. (most of them won't deal with you with reversible payment methods like Paypal).

2. I won't suggest using online wallets like Blockchain.info because If they get hacked , you will get hacked . Instead , you should use something like Electrum.org (Desktop wallet) - for android I'd go with Mycelium . Electrum allows you to recover your wallet using a 12 words seed in case of a computer failure or loss of your computer or something which make it easy to get your wallet back just with those words .

3. Once again , I'm not sure what this question means honestly.

Ok, thank you for claryfing a few things. I'm new when it comes to bitcoins and I'm doing my best to fully understaand it. Your answers were very helpful


- Could you please tell me how can I exchange, for example, USD to bitcoins? How does this process look like?

- Is there any wallet that you recommend and why?

- Last but not least, is it possible to connect a wallet with API?


Please, beare with me. I really appreciate your understanding and assistance.

There is no "your" here. There is no central governing body and there is no one person or group which controls Bitcoin.

Because there is no one central group that owns and controls Bitcoin, there is also no support for anything. People can help you here, but there is no official support for Bitcoin, just support for software that uses it.

Best platform for what? There is only one Bitcoin. What kind of platform are you looking for.

The price of a Bitcoin is determined in the same manner that everything that is traded is determined, by supply and demand. This is exchange specific, like how the price of a stock or a foreign currency is specific to the exchange on which you are trading. The price changes rapidly because people are trading at different prices and the prices are reflected as these trades happen. The same happens with stocks and currency trading.

What ewallet? There is no one Bitcoin wallet, and there is no "official" Bitcoin wallet nor is there an "official" website.

It depends on what wallet you are using. If you use an online wallet with an exchange, then you may be able to have different currencies. However, the vast majority of desktop wallets only support one currency. For Bitcoin, they support Bitcoin. For other altcoins, they only support that altcoin.

It depends on the wallet. If the transaction is unconfirmed, some wallets may not show it. Other wallets will. For the money to become secure enough to be spendable, you will have to wait for at least 1 confirmation, and that usually takes about 10 minutes.

Payout process for what? To pay Bitcoin to multiple people, you open the wallet software and enter the Bitcoin addresses for all of the people you want to pay and the corresponding amounts and the software will create the transaction for you. Usually you will have to pay a large transaction fee so that the transaction will confirm quickly.

I highly suggest that you try to do some research to understand Bitcoin. You can read some of the stuff at https://bitcoin.org and at the Bitcoin wiki: https://bitcoin.it. These are all good sources of information. If you ask more questions, please be as specific as possible.

I'm not sure I get your answers but I will try based on what I understood .

1. If you mean how the price is calculated then it's based on Supply and demand (from exchanges) and yes it's in real time. See here for example , It takes price from different exchanges and gives you one : http://preev.com/ (most of people use this while trading)

2. E-wallet ? Is that a service ? If you are speaking about wallets in general then you can send bitcoins from wallet to wallet  and then you will have to trade them for USD,Euro , GBP or any other currency in Exchanges like Coinbase/LocalBitcoins etc... As for the speed of the transaction then it's instant but you will have to wait for a few confirmations (usually takes 10-20mn) so you can use them.

3. I don't get that question.

Feel free to ask more questions and give more details above the questions you already asked.

Hello!

I would like to ask some questions concerning your bitcoin platform.
First of all I could find any support tab, hence I need to post this here. I'm representing one of the biggest affiliate program in the world and we would like to implement bitcoin payments in our offer. Therfore, we are looking for the best platform.

For the moment we would like to get answers to the following questions:
- How the currencies are calculated, knowing that BitCoin values change rapidly is it all in Real Time?
- How does the ewallet work? Can we safely submit money to the wallet (our account) in any currency? How long does it take to see the money in the wallet (is it instant)?
- How does the payout process look like? We are interested in multiple payouts to different partners.


Could someone please thoroughly elaborate on these questions and answer ASAP. In mean time, I will prepare some other questions.