Topic: Personal Project - Bitcoin Payment Processing System (Read 360 times)

First of all, you have no idea how easy I think it is.

And I've done a lot of considering about it.

And yes I know the confirmation time issue. There's a plan for that, for evaluating risk based upon amount and history of that user.

Items that actually physically ship need 12 confirms before they ship.

Digital goods, number of confirms needed varies based upon the amount and whether the user is considered trustworthy based upon previous history. Only very small purchases would ever be flagged as "paid" without at least 1 confirmation.

Third party payment take a chunk of every sale, have power over the flow of your money, and are a single point of failure you depend upon in your ability to do commerce.

Using a third party bitcoin payment processing service is just trading one master for another, your business is their bitch.

With bitcoin, your business doesn't have to be anyone's bitch.

please consider about it,make payment processing without using a third party service is not easy as you think,and it will take long time to get confirmation,i just suggest you to use third party service.

I'm currently working on a payment processing system for Bitcoin eCommerce.

I have no clue whether it will be of value to eCommerce in general, but it certainly will be of value to me. Need drives innovation, eh?

When I work on something big, I like to write the documentation at the same time that I am both designing the project and coding the project.

For me personally, writing documentation helps me find bugs I never would have thought to check for with just writing the code.

Anyway for those interested, here is a very VERY rough and quite incomplete draft of the documentation:

https://bitcoin.librelamp.com/btcart.pdf

So far I have written the exchange rate tracker, it is in extensive testing right now and so far is working flawlessly.

At the moment I am working on the payment processing code, which is being written in Python. Basically I'm writing a bunch of functions and testing them - no usable program per se.

I have no clue when this will be ready, but it won't be soon. I am largely a self-taught programmer and while being self-taught I avoid many of the common mistakes made by people with CS degrees, I still am going to take some classes in Python just to make sure there isn't something important I am f*cking up. The PHP part for the shopping cart, I am very confident in my PHP skills. But I do not do a lot of Python programming, so for that I do want to take an actual class or two before I evaluate my code and release a product. Just to avoid scenarios where something in Python works differently than I assume it does.

Self-learning Python, I have already found many on-line tutorials that contain what is clearly dangerous code, especially lack of proper input validation and error handling. I'm guessing that means there probably exists not so obvious yet still dangerous tutorials on how to do something.

So it will be awhile before anything is released.

But I hope to make payment processing without using a third party service a lot easier for small business.

Comments and criticism are welcome.