Those that understand Ripple
-
So specifically, how can we solve the scenario posted? How can make it easy for merchants to offer products without:
1. Forcing them to hold Feathercoin for any purchase
2. Forcing them to deal with escrow services -
[quote name=“justabitoftime” post=“8648” timestamp=“1370112317”]
So specifically, how can we solve the scenario posted? How can make it easy for merchants to offer products without:1. Forcing them to hold Feathercoin for any purchase
2. Forcing them to deal with escrow services
[/quote]Good question. Maybe create a payment processor that automatically does the price lock-in like bitpay and transfer funds. That is the only solution I can think of.
-
[quote name=“justabitoftime” post=“8648” timestamp=“1370112317”]
So specifically, how can we solve the scenario posted? How can make it easy for merchants to offer products without:1. Forcing them to hold Feathercoin for any purchase
2. Forcing them to deal with escrow services
[/quote]Pay with Visa? Not sure where you are coming from tbh? :-\
[quote author=Smoothie link=topic=1110.msg8650#msg8650 date=1370112590]
Good question. Maybe create a payment processor that automatically does the price lock-in like bitpay and transfer funds. That is the only solution I can think of.
[/quote]Isn’t this back to trust again though?
-
[quote name=“UKMark” post=“8653” timestamp=“1370112795”]
[quote author=justabitoftime link=topic=1110.msg8648#msg8648 date=1370112317]
So specifically, how can we solve the scenario posted? How can make it easy for merchants to offer products without:1. Forcing them to hold Feathercoin for any purchase
2. Forcing them to deal with escrow services
[/quote]Pay with Visa? Not sure where you are coming from tbh? :-\
[quote author=Smoothie link=topic=1110.msg8650#msg8650 date=1370112590]
Good question. Maybe create a payment processor that automatically does the price lock-in like bitpay and transfer funds. That is the only solution I can think of.
[/quote]Isn’t this back to trust again though?
[/quote]Payment processors right now are out of the question. It’s such a challenge for anything outside Bitcoin, that’s certainly a long-term solution. We face 2 challenges:
1. New people learning about crypto trying to get money into Feathercoin. My mom wants to pop in her Visa and have it handled… she doesn’t want to link to her banking account, transfer BTC to an exchange, convert it to FTC and send it back to a wallet. She doesn’t… most non-technical people have that same mind set.
2. Merchants would love to sell products to our community. However, if they are not into crypt currencies personally, they don’t want to mess with trying to convert it to USD.
-
[quote name=“UKMark” post=“8653” timestamp=“1370112795”]
[quote author=justabitoftime link=topic=1110.msg8648#msg8648 date=1370112317]
So specifically, how can we solve the scenario posted? How can make it easy for merchants to offer products without:1. Forcing them to hold Feathercoin for any purchase
2. Forcing them to deal with escrow services
[/quote]Pay with Visa? Not sure where you are coming from tbh? :-\
[quote author=Smoothie link=topic=1110.msg8650#msg8650 date=1370112590]
Good question. Maybe create a payment processor that automatically does the price lock-in like bitpay and transfer funds. That is the only solution I can think of.
[/quote]Isn’t this back to trust again though?
[/quote]Yes. But not everyone being an escrow is what this solves. Not everyone will be a payment processor. A business like that has an incentive not to scam its customers. But yes you are right when it comes to trust.
-
I have an idea I’m working on. Instead of people converting and setting up accounts, what I plan on doing is giving people certificates for purchasing things like a year’s worth of rent, month worth of gasoline, etc. Pools would then use these and hand portions out (not fractional reserve) to noobs. They would also be able to purchase them with credit cards.
The advantage for the people who pay a year in advance is that they get a certificate they can use elsewhere if they have to move because of job, health, family.
The advantage for the pools is added value services and bringing new people to the currency.
The advantage for the new people is dead simple access to currency.
The advantage for everyone is instead of creating a credit network from scratch, pools and individuals who buy into a location’s bundled certificates become the network.Problem solved. Also Visa and Mastercard and PayPal effectively made nearly obsolete.
-
1. I saying this back in April :)
2. We pay in USD then? :-\I’m not being (although probably sounding) pedantic btw, but I really can’t see, what you see or expect as a solution?
1. If the world is going to adopt Crypto then it needs to be “easy enough for Granny to use” so some form of prepaid Crypto card (random out of the hat idea)? But how?..
2. If merchants would love to sell to the Crypto community but don’t want Crypto as payment, then it’s up to the Consumer (US) to only go to merchants that will except Crypto, why should we compromise in what we want to be our future? < Again the only thing stopping us, is US! -
[quote name=“UKMark” post=“8663” timestamp=“1370114777”]
1. I saying this back in April :)
2. We pay in USD then? :-\I’m not being (although probably sounding) pedantic btw, but I really can’t see, what you see or expect as a solution?
1. If the world is going to adopt Crypto then it needs to be “easy enough for Granny to use” so some form of prepaid Crypto card (random out of the hat idea)? But how?..
2. If merchants would love to sell to the Crypto community but don’t want Crypto as payment, then it’s up to the Consumer (US) to only go to merchants that will except Crypto, why should we compromise in what we want to be our future? < Again the only thing stopping us, is US!
[/quote]My design shifts the hard part to people who can do the hard part by paying for services and bills in bulk. The noobs can just use their credit cards for the certificates which can then be converted to coin.
I’m rerouting the complexity away from the noobs.
-
[quote name=“zerodrama” post=“8664” timestamp=“1370115184”]
[quote author=UKMark link=topic=1110.msg8663#msg8663 date=1370114777]
1. I saying this back in April :)
2. We pay in USD then? :-\I’m not being (although probably sounding) pedantic btw, but I really can’t see, what you see or expect as a solution?
1. If the world is going to adopt Crypto then it needs to be “easy enough for Granny to use” so some form of prepaid Crypto card (random out of the hat idea)? But how?..
2. If merchants would love to sell to the Crypto community but don’t want Crypto as payment, then it’s up to the Consumer (US) to only go to merchants that will except Crypto, why should we compromise in what we want to be our future? < Again the only thing stopping us, is US!
[/quote]My design shifts the hard part to people who can do the hard part by paying for services and bills in bulk. The noobs can just use their credit cards for the certificates which can then be converted to coin.
I’m rerouting the complexity away from the noobs.
[/quote]I looked at your idea after I posted, it looks very good, I take it when you say certificate, you mean some form of digital certificate and not - Whoof up in smoke, where the fooks my certificate, certificates? :)
-
Yes. With the added benefit of making the housing market turn its wheels. (or whichever markets we choose).
-
Ripple is a big fraud targeted at BTC and other cryptos.
-
[quote name=“ghostlander” post=“8699” timestamp=“1370127004”]
Ripple is a big fraud targeted at BTC and other cryptos.
[/quote]I must admit I have had this thought myself.
-
It’s the corporate federal reserve. We can do better.
-
[quote name=“UKMark” post=“8702” timestamp=“1370127461”]
[quote author=ghostlander link=topic=1110.msg8699#msg8699 date=1370127004]
Ripple is a big fraud targeted at BTC and other cryptos.
[/quote]I must admit I have had this thought myself.
[/quote]This question is to address direct responses from merchants that aren’t interested in Feathercoin. Without a service such as Bitpay, most simply aren’t interested in holding a coin they can barely understand. I’m just trying to come up with creative solutions to bring more aboard. If you take a look at Litecoin’s merchant lists (which we have been) they’re not doing much better which is disappointing and yet reassuring on the challenges.
At the same time there’s stress getting FTC. When I talk to people about the coin, I’m often asked ‘Great, where do I buy it?’. As you know, it’s a bit of a process to move USD to FTC and becoming more of a nightmare to reverse the process.
I’m optimistic we’ll figure out the puzzle, but these are real concerns on adoption.
-
Justabitoftime, I’ll accept PayPal for Feathercoin if it means I can upgrade my mining rig.
-
[quote name=“zerodrama” post=“8711” timestamp=“1370129100”]
Justabitoftime, I’ll accept PayPal for Feathercoin if it means I can upgrade my mining rig.
[/quote]Paypal… don’t even get me started with that company. Aside from my personal issues dealing with them, isn’t our biggest challenge with Paypal chargebacks?
-
Yeah, but if you’re bringing in friends and family or established businesses it’s fine.
-
[quote name=“zerodrama” post=“8713” timestamp=“1370129369”]
Yeah, but if you’re bringing in friends and family or established businesses it’s fine.
[/quote]Friends and family -> I am the middleman :)
Businesses -> That’s where it gets interesting.
-
[quote name=“Smoothie” post=“8650” timestamp=“1370112590”]
Maybe create a payment processor that automatically does the price lock-in like bitpay and transfer funds. That is the only solution I can think of.
[/quote]Agreed.
Would “colored coins” offer a solution to this problem? Which is along the same lines as ripple.
[url=http://youtu.be/_qdr_Z3hrqQ?t=8m36s]http://youtu.be/_qdr_Z3hrqQ?t=8m36s[/url] … I’m including the merged mining and layered currency segment as well (because I want you guys to hear it and think about the possibilities it opens up), but what may apply to this discussion in particular is the colored coin discussion that follows.
The above video may be what started this entire thread in the first place. lel
Also see : [url=https://bitcointalk.org/index.php?topic=212490.0]https://bitcointalk.org/index.php?topic=212490.0[/url]
[url=http://feedback.feathercoin.com/forums/208241-general/suggestions/3999931-implement-the-holy-grail-ot-bitmessage-]http://feedback.feathercoin.com/forums/208241-general/suggestions/3999931-implement-the-holy-grail-ot-bitmessage-[/url] ;)
-
[quote name=“justabitoftime” post=“8709” timestamp=“1370128308”]
At the same time there’s stress getting FTC. When I talk to people about the coin, I’m often asked ‘Great, where do I buy it?’. As you know, it’s a bit of a process to move USD to FTC and becoming more of a nightmare to reverse the process.
[/quote]Yes, that’s a problem for most cryptos. Most people have nothing to do with mining or day trading, and they don’t want to. If we figure out a quick and easy way for those people to convert FTC into USD/EUR and vice versa, we’re into a real success.
PayPal stinks strong even without chargebacks. Their business policies have nothing to do with common business ethics. I’ve accepted a PayPal payment for the last time some 10 years ago, and things have got much worse since.
