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19-11-2019, 14:00   #6691
makeorbrake
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Originally Posted by Kickstart1.3 View Post
Yeah I knew of a few, one in Spain that used to accept bitcoin payments but they've stopped. According to the owner it was a fad and hip at the time but just isn't worth the hassle now
Could all become elementary. These guys are going to enable the european versions of Amazon within the next few months. That opens up 353 million products to bitcoin holders.

Other platforms will follow.


That aside, as lightning network continues to develop and gather momentum, it stands a better chance of supporting BTC as a medium of exchange....but there's still a lot of work to be done on that project.
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19-11-2019, 15:03   #6692
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Can't see me spending my Bitcoin for at least 5 years, not because I can't, but because I don't want to.
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19-11-2019, 15:05   #6693
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I'm all for that, particularly if someone could develop an anonymizing parcel forwarding system so I could declare I'm in Luxembourg and have VAT levied at 2% on all my purchases.

I recently bought some coffee beans from Lxb - the tax applied was eye-opening.
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19-11-2019, 15:06   #6694
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Can't see me spending my Bitcoin for at least 5 years, not because I can't, but because I don't want to.
Mine's staying put until I'm living somewhere the CGT is 0%, not 33%.
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19-11-2019, 15:15   #6695
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Mine's staying put until I'm living somewhere the CGT is 0%, not 33%.
True enough it does make it a lot easier to HODL knowing we have to emigrate beforehand.
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19-11-2019, 15:15   #6696
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Originally Posted by makeorbrake View Post
Could all become elementary. These guys are going to enable the european versions of Amazon within the next few months. That opens up 353 million products to bitcoin holders.

Other platforms will follow.


That aside, as lightning network continues to develop and gather momentum, it stands a better chance of supporting BTC as a medium of exchange....but there's still a lot of work to be done on that project.
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It’s important to clarify that there is no direct integration with Amazon. However, the nature of the browser extension
😂😂😂ðŸ˜

LoL
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19-11-2019, 17:56   #6697
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Originally Posted by makeorbrake View Post
Could all become elementary. These guys are going to enable the european versions of Amazon within the next few months. That opens up 353 million products to bitcoin holders.

Other platforms will follow.


That aside, as lightning network continues to develop and gather momentum, it stands a better chance of supporting BTC as a medium of exchange....but there's still a lot of work to be done on that project.
I am not sure I fully get it, but the way I read it, it is a browser extension which overlays on the online merchant's payment page and autofills the form to converts a crypto deposit into a fiat payment with a virtual credit/debit card? (with no involvement from the merchant)

If yes I personally find it rather convoluted. If the endgame is to convert crypto into a fiat card payment, I find actual MasterCard or Visa cards associated to a crypto wallet better, as they will work anywhere (online and in physical shops) and don't require specific coding for every website.

Last edited by Bob24; 19-11-2019 at 18:01.
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19-11-2019, 18:43   #6698
makeorbrake
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If yes I personally find it rather convoluted.

Please watch the youtube video halfway down the article and let me know what part of that process is convoluted.

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If the endgame is to convert crypto into a fiat card paymen
The Bitcoin holder doesn't have to touch FIAT. The processor does that for them. It seems pretty seamless to me.

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I find actual MasterCard or Visa cards associated to a crypto wallet better, as they will work anywhere (online and in physical shops)
Terrific - if you're happy with that - then keep using it. This gives people another option - and they themselves don't have to touch FIAT. Remember also that in many jurisdictions, the opportunity to hold a card with a crypto account isn't an option.

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and don't require specific coding for every website
With this browser extension, it doesn't need coding for every specific website - but it does need activation at a processor level. That means that mom and pop ecomm sites can be enabled in the future - without manually activating one at a time.

This is a good interim solution. As volumes grow, that company can approach ecomm sites and make a case for direct integration and support. I hope that people in the crypto community get behind it.

In any event - it takes one of those main criticisms (i.e. you can't buy jack with crypto) off the list. With 353 million products available via Amazon - that alone means that anything can be purchased with BTC ...before others are added. There are many others that will need to follow - but step by step.
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19-11-2019, 18:56   #6699
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People don’t use bitcoin to buy things. They hodl hoping it goes up in value so they can sell it to another person for more money than they paid for it.

It’s a Rube Goldberg machine. Using PayPal or some other payment mechanism is far far easier. Easier wins.

Last edited by JohnnyFlash; 19-11-2019 at 19:01.
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19-11-2019, 19:09   #6700
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Please watch the youtube video halfway down the article and let me know what part of that process is convoluted.
You need a browser extension meaning you have to install it on every single time you install a new browser or use a new computer (and it will never support all browsers, especially mobile ones - and is unlikely to support mobile Apps which many people use to shop nowadays). And it only enables payment on a handful of websites so it is not that practical.

Only someone who care deeply about crypto and/or is curious to try will bother with that. And if they are going to invest time into a crypto to fiat payment solution, why not just go for one which supports any website or physical store?

But what I was saying is more that based on how I understand it, the implementation seems convoluted:

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Originally Posted by makeorbrake View Post
With this browser extension, it doesn't need coding for every specific website - but it does need activation at a processor level. That means that mom and pop ecomm sites can be enabled in the future - without manually activating one at a time.
As I said I am not 100% clear how it works in the background, but the link you posted clearly states there is no partnership with Amazon. Without a cooperation with Amazon how can it work besides using specific code in the extension which fills-out the payment form on Amazon's website (and which therefore will not work with any other website as their payment form will be different).

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Originally Posted by makeorbrake View Post
The Bitcoin holder doesn't have to touch FIAT. The processor does that for them. It seems pretty seamless to me.
Yep I get that, I could be wrong but it is the same with the like of a Coinbase card as far as I know - hence why I mentioned it as an alternative. The reason I find the card more elegant is that the implementation is not specific to any vendor (i.e. it it gives a much better reach out of the box for the user and in terms of maintenance it doesn't require to constantly be tweaked to support more vendors).

Last edited by Bob24; 19-11-2019 at 19:22.
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19-11-2019, 19:12   #6701
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People don’t use bitcoin to buy things. They hodl hoping it goes up in value so they can sell it to another person for more money than they paid for it.

It’s a Rube Goldberg machine. Using PayPal or some other payment mechanism is far far easier. Easier wins.
funny but I suppose it's true

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19-11-2019, 19:28   #6702
makeorbrake
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You need a browser extension meaning you have to install it on every single time you install a new browser or use a new computer
How many times in a year do you install a new browser? When you do so, can you not import browser extensions?

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and it will never support all browsers, especially mobile ones).
The startup is only up and running a number of months - it supports browsers that are used by 70% of the global public. As for browser extensions on mobile browsers, by all accounts they're coming. It's already possible with many mobile browsers - its just that such extensions are not officially supported on mobile yet by the likes of Chrome, etc.

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And it only enables payment on a handful of websites so it is not that practical.
I think you are missing the point here. The point is that for holders of Bitcoin - existing holders of Bitcoin - they have a tangible option if they should choose to go out and buy products with their crypto.
You have to walk before you can run. Moon Tech are offering a valid option for people in that situation - of which there are 100s of thousands.


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Only someone who care deeply about crypto will bother with that.
See above. So in the scenario where I have BTC right now and I don't have a card attached to a crypto account, it's not a question of 'caring deeply' - its a real tangible option.

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And if they are going to invest time into a crypto to fiat payment solution, why not just go for one which supports any website or physical store?
What TIME????
Secondly, because this is a solution for people that already have BTC and might choose to spend it on goods. Many of them don't want to touch FIAT.
Furthermore, many of them see what the implications are here. i.e. this is a workaround and a precursor to direct integration. It's only with real integration, that startup will make money - so that's the play. Anyone who really believes in crypto would see the value in it.

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Originally Posted by Bob24 View Post
why not just go for one which supports any website or physical store?
Because this is a workaround that will lead to actual integration. Secondly, give them a chance. They're only up and running a few months. As previously posted, they are not going to be activating these store by store - it will be processor by processor.

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Originally Posted by Bob24 View Post
The link you posted clearly states there is no partnership with Amazon. Without a partnership how does it work in the background, besides using specific code in the extension which fills-out the payment form on Amazon's website (and which therefore will not work with any other website as their payment form will be different).
It provides the conversion so you as a crypto holder don't have to. They can do that without having any dealings with the e-tailer. Amazon are oblivious to it. The purchaser is largely oblivious to the conversion - from their perspective, they've paid with BTC.
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19-11-2019, 19:29   #6703
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funny but I suppose it's true
Take no notice. He has no notion of what he's scribbling.
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19-11-2019, 19:42   #6704
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It's funny that they're called Moon technologies though..
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19-11-2019, 19:55   #6705
makeorbrake
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It's funny that they're called Moon technologies though..
Yes, that's the most important criticism to take away from all of that, right? Did you read the article? The guy believes in the use of Bitcoin as a transactional currency and medium of exchange rather than as a store of value....to which it has pivoted to in more recent times.
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