Merchant plugin for easy integrate ftc support to webshops
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This is going to happen ;) jump in, let us know what you think, who uses a web cart or has maybe installed one.
Anyone written plugins for carts?
3 main carts to consider are:
WooCommerce for WordPress
VirtueMart for Joomla
and Magento.Any other carts out there that are as big as these in your opinion?
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Opencart
[url=http://www.opencart.com/]http://www.opencart.com/[/url]This is a ‘stand alone’ open source cms, mainly for creating a webshop.
I am soon going to start setting up a website where you can buy vinyl stickers, i would like to accept FTC in this should and therefor can help test anything :).
Edit:
Another big one is ‘prestashop’ personally I never used it, but it’s a big one apparently. -
[quote name=“sheepson” post=“30028” timestamp=“1380654502”]
Opencart
[url=http://www.opencart.com/]http://www.opencart.com/[/url]This is a ‘stand alone’ open source cms, mainly for creating a webshop.
I am soon going to start setting up a website where you can buy vinyl stickers, i would like to accept FTC in this should and therefor can help test anything :).
Edit:
Another big one is ‘prestashop’ personally I never used it, but it’s a big one apparently.
[/quote]This might be a good idea regarding creating a “complete” product for new merchants wanting to start up a webshop with ftc.
I was thinking more in a sence of a plugin for excisting infrastructure. that just handled the last payment part in feathercoin.But it could become a merchant kit for both newstarters, and excisting buisnesses.
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https://coinpayments.net/ has a bunch of plug-ins and accepts multiple cryptos, including FTC.
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[quote name=“svennand” post=“30030” timestamp=“1380654860”]
[quote author=sheepson link=topic=3878.msg30028#msg30028 date=1380654502]
Opencart
[url=http://www.opencart.com/]http://www.opencart.com/[/url]This is a ‘stand alone’ open source cms, mainly for creating a webshop.
I am soon going to start setting up a website where you can buy vinyl stickers, i would like to accept FTC in this should and therefor can help test anything :).
Edit:
Another big one is ‘prestashop’ personally I never used it, but it’s a big one apparently.
[/quote]This might be a good idea regarding creating a “complete” product for new merchants wanting to start up a webshop with ftc.
I was thinking more in a sence of a plugin for excisting infrastructure. that just handled the last payment part in feathercoin.But it could become a merchant kit for both newstarters, and excisting buisnesses.
[/quote]In opencart it’s also possible to install modules.
Seems bitpay has an existing module for it:
[url=http://www.opencart.com/index.php?route=extension/extension/info&extension_id=3119]http://www.opencart.com/index.php?route=extension/extension/info&extension_id=3119[/url]Or:
[url=https://en.bitcoin.it/wiki/OpenCart_Bitcoin]https://en.bitcoin.it/wiki/OpenCart_Bitcoin[/url] -
[quote name=“mnstrcck” post=“30032” timestamp=“1380655066”]
https://coinpayments.net/ has a bunch of plug-ins and accepts multiple cryptos, including FTC.
[/quote]The problem there is that it isnt open source, we rely on third party for the system, and they charges 0.5% +tx (might go up to 1% when its out of beta).
Im talking about creating a plugin/kit, free for webshops to use for feathercoin.
That could be customized/developed further by us when we see a need for something. -
[quote name=“sheepson” post=“30033” timestamp=“1380655206”]
[quote author=svennand link=topic=3878.msg30030#msg30030 date=1380654860]
[quote author=sheepson link=topic=3878.msg30028#msg30028 date=1380654502]
Opencart
[url=http://www.opencart.com/]http://www.opencart.com/[/url]This is a ‘stand alone’ open source cms, mainly for creating a webshop.
I am soon going to start setting up a website where you can buy vinyl stickers, i would like to accept FTC in this should and therefor can help test anything :).
Edit:
Another big one is ‘prestashop’ personally I never used it, but it’s a big one apparently.
[/quote]This might be a good idea regarding creating a “complete” product for new merchants wanting to start up a webshop with ftc.
I was thinking more in a sence of a plugin for excisting infrastructure. that just handled the last payment part in feathercoin.But it could become a merchant kit for both newstarters, and excisting buisnesses.
[/quote]In opencart it’s also possible to install modules.
Seems bitpay has an existing module for it:
[url=http://www.opencart.com/index.php?route=extension/extension/info&extension_id=3119]http://www.opencart.com/index.php?route=extension/extension/info&extension_id=3119[/url]Or:
[url=https://en.bitcoin.it/wiki/OpenCart_Bitcoin]https://en.bitcoin.it/wiki/OpenCart_Bitcoin[/url]
[/quote]Hmm. this looks interessting.
As far as i can see it uses connection to mtgox to get amount from $ to btc, then uses JSON to comunicate with the wallet client.This seems like an smart idea to investigate further, anyone have a say to this one?
Should be pretty straightforward to customise it for FTC -
[quote name=“fendlestick” post=“30051” timestamp=“1380658936”]
I raised this once already but will try again (for the last time). Depending on the value of the items you sell you will need to have an option to manually set the rate. For example:The API for BTC-e or whatever gives the current rate of 0.0009
Your product is 10 BTC
You get 5 orders (50 BTC)
As you cash out the coins the value of the buy orders goes down to 0.0008You 5th order is worth less to you than your first so if you have a small margin you may loose money or make less profit. Not being a drama queen but this is the reason coinpayments will fail. If I put 10BTC on 50 orders through coinpayments the buy order depreciation is so severe on some coins that it will mean that when I get to cashing out my 49th I may actually be loosing money to fulfill them.
I run shops and take FTC, it has taken months of practice to prevent this very situation occurring, which happens alot! Especially with coins that have small value buy order steps like SXC, DGC and two days ago LTC.
Now if you want merchants to hold coins and have enough cash flow to be able to wait for the coin to rise, which it is not guaranteed to do it doesnt matter. Most small shops using this plugin won’t have that much cash in reserve to fill orders so will need to ensure that order 1 gives over profit when order 5 is at normal profit margin.
[/quote]Im sorry you havent gotten anywhere regarding this before.
Hopefully we will reach a conclusion soon. this is something that i will see go through.
No wish thread that just gets phased out.I get this part and has been murring in the back of my head.
The company will have to pay their supplyer, and the crypto market is a Yo-Yo at times.
One way to solve this is to have larger margin vs exchange (maybe have an option for the merchant to add an extra fee/% on top of the exchange rate).
The other way is to have direct transaction from ftc —> $ during the purchase, how this could be solved however… -
[quote name=“fendlestick” post=“30051” timestamp=“1380658936”]
I raised this once already but will try again (for the last time). Depending on the value of the items you sell you will need to have an option to manually set the rate. For example:The API for BTC-e or whatever gives the current rate of 0.0009
Your product is 10 BTC
You get 5 orders (50 BTC)
As you cash out the coins the value of the buy orders goes down to 0.0008You 5th order is worth less to you than your first so if you have a small margin you may loose money or make less profit. Not being a drama queen but this is the reason coinpayments will fail. If I put 10BTC on 50 orders through coinpayments the buy order depreciation is so severe on some coins that it will mean that when I get to cashing out my 49th I may actually be loosing money to fulfill them.
I run shops and take FTC, it has taken months of practice to prevent this very situation occurring, which happens alot! Especially with coins that have small value buy order steps like SXC, DGC and two days ago LTC.
Now if you want merchants to hold coins and have enough cash flow to be able to wait for the coin to rise, which it is not guaranteed to do it doesnt matter. Most small shops using this plugin won’t have that much cash in reserve to fill orders so will need to ensure that order 1 gives over profit when order 5 is at normal profit margin.
[/quote]Thanks so much with being patient enough to bring this up again, I have logged your comment in my Evernote so it won’t get forgotten.
I have spoken to one company here in the UK who have said they might be able to help us with some software that matches peers with short term positions with peers prepared to take a long positions in a market. That would mean the merchants could specify how much of the FTC they take that they want converting in to fiat and how much they want in to keep in crypto. The Oxford Blue for example keeps 100% in FTC but I spoke to one coffee shop who said they wouldn’t mind keeping 20% in FTC and 80% in Fiat.
The 80% would then be sent to an exchange and fill up pre-existing contract at a fixed price (that was displayed to the customer + commission) and the Buyer then fulfils the payout using the legacy banking system. Once the transaction is complete both peers receive a reputation score to avoid abuse in the future.
So it’s a bit like a p2p futures exchange. You buy the FTC at a guaranteed price from the merchant which the customer sees at the time of purchase. I have to look v carefully in to this and will want to see a live demonstration of this working real world in another market first. It sounds like we would have to do a lot of direct sales to investors willing to take long term positions to get them on the exchange in the first place.
Actually that reminds me to look in to Buttercoin again, they talked about a white labelled exchange service but with a shared order book nationally. That could be great for liquidity.
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Fendlestick, that’s a great breakdown from a merchant point of view.
I think a 5% profit margin - from personal retail experience in my past - is waaaay too narrow on volatile crypto-coins. If I was a bagholder of a super volatile crypto-currency, and I wanted to buy the 3 Piece Army Uniform outfit for my future girlfriend, then I’d be ok if you had a 5% CryptoMargin on top of your profit margin. That is to say Profit Margin + 5% CryptoMargin.
My view is this. Current merchants selling for alt coins are taking a huge risk; are providing an incredible service; and offering people the ability to turn electricity/speculation into physical goods. Until wide adoption occurs [which in itself would probably bring more stability to coins] people should be made to pay a premium on something like this.
Finally, would it not be possible to - if this goes through - implement the ability to add a % point multiplier to the coin worth?
Example:
Tiny Butt Plug = Base Price + Profit Margin + FTC Value from BTC-E x 1.05 = Final Price
One last question fendlestick, are you manually updating the prices based on coin value or automatically updating them via code magic?
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Fendlestick, I saw the calculation message - and was thinking to reply, then I saw you changed it. Either way, that’s pretty fair of you as a merchant.
I’m totally thinking out of the box here, but if something like the CryptoMargin I talked about was implemented as a method of providing a safety net on volatility, it could be turned around into a rewards program. So if, let’s say at the end of one week, a merchant made X coins as profit on the CryptoMargin, he can deduct losses from previous weeks if any, then issue in-store credit to users based on their amount spent.
Here’s the kicker, if this was implemented into a shopping cart system like svennand is discussing, and we get multiple merchants to sign up, the rewards program can be spread out over a larger network of stores [opt-in of course] promoting sales across all platforms.
Probably technically a tantamount task, but I thought I’d throw it out there.
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[quote name=“fendlestick” post=“30075” timestamp=“1380663529”]
I am working on a system to sell FTC by bank transfer directly, the key is to cut out the exchanges and in doing so you remove all the problems.
[/quote]Please keep us up to date with this and let us know if there’s anything we can do to help.
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Any more suggestions regarding open source stuff we can use/modify.
Or how we may solve this :D