The Crypto coin thread

[Rob D]

6 hours ago, Matyboyo said:

Guys check out Max Keiser. Just do it

 

 

Yep watched loads of Max Keiser... and plenty others.

 

I am still invested into crypto and still reckon it will be bigger than the internet was in terms of how we transact payments [but we're still years away from it day to day use].

 

I understand how people see Bitcoin as a pyramid type ponzi scheme - but my research says it is the opposite of this.

 

One things for sure I gave up trying to explain how Bitcoin 'works' a long time ago - it's all there on the internet for those that  want to put the time in. If you don't then pretty pointless investing in it.

 

 

 

 

 

 

 

[donnk]

DMD coin is next, they dev the cutting edge wallet software that all the other coins use. It's cheap as well to roll your christmas argos vouchers into.

[mattyboy]

Btc has the advantage of being the first crypto so gas household name recognition, might be quite clunky and cumbersome in the way it operates but there are many improvements going to speed transactions up.

It’s at 27k right now up around 100% in a couple of months, I predict and many others do too that it will rise to around 300k in 2021 and then retrace down like it did after the last all time high in 2017 around 70% down from the all time high so to around 90k$

Anyway, there are many other crypto’s out there and I would suggest anyone looking to invest in any crypto to look into maidsafe who are a Scottish company based in Ayr who have been designing a decentralised internet network which relies on the computing power of individuals who are willing to contribute in exchange for payment in maidsafe coin. They’ve been around 15 odd years and have just released a first version in code of the network. Good time to invest as things are likely to explode in price by several orders of magnitude! Check the forum and website out safe network.tech or safenetforum.org

[Rob D]

We may look to integrate payments in crypto in 2021 as the tech has improved.

 

At the moment I think we pay around 2% to get all payments processed by Paypal but one major issue we have with paypal is - export orders we take in that countries currency - say French customer and they pay in Euros. To withdraw these Euros Paypal charges a silly currency conversion rate ie. 2.5-3% below spot prices. So for a customer in France to buy from us and pay us - we lose 5% to turn their Euros in £ and get it into our bank account.

 

And the real real choker - we then often have to turn it back into Euros to pay a supplier! So another 1-1.5%!

 

If someone from France paid us in say Dash or a similar fast cheap crypto - you're looking at $0.01 - I think there are products that can now turn that straight into a stablecoin so if you are worried about volatility you can remove this.

 

Then the only conversion rate is to turn that crypto into £ which can be done for around 1%.

[Rob D]

So why would people bother to pay us in say Dash?

 

• We'd pass on some of the savings ie 3% to the customer - their prices would be 3% less than what everyone else is paying.
• With crypto you have complete control of your money - there is no matching of card details or other security - there is no middle man so no issue of getting card blocked or the faff of getting all details correct or if you want to send to a different address - all this is possible without triggering fraud controls.
• Payments on some cryptos are instant.
• Requesting money from our side ie. when a customer wants to add something to their order - would be easier. Paypal works quite well like this - card payments are a real PITA.

Cons

• Difficulty from a customer perspective is I'm not sure they would have protection ie. if we didn't send the goods they would not have the convenience of a card company or similar to call... but if you are buying from a trusted established company then this should not be a worry.
• If you send the funds to an incorrect address you could lose them
• Volatility of the asset needs to be sorted so we get the money we want and customer pays the money they want.
• Adoption rates are still so very low and still early days - not many people would know how to do it [but maybe for cheaper prices they would find out!]

 

So not easy to set up but we will likely look into this again 2021.

[sandspider]

TransferWise are good for foreign currency payments with minimal fees, but I'm not sure if you can take payments directly via it, or just pay individual (private?) entities...

[Rob D]

2 hours ago, sandspider said:

TransferWise are good for foreign currency payments with minimal fees, but I'm not sure if you can take payments directly via it, or just pay individual (private?) entities...

 

Transferwise is a great product - but I'm not sure they do a product for woo commerce... even if they did it can be a major under taking getting it all working in time and developer fees...

 

What we have now works but is expensive - I'm really hoping crypto can bring something in that has less friction ie. % skimmed off the top by whoever does the payment processing.

 

May have another look at integrating a crypto plug-in - or wait until crypto is more mainstream and say a digital $ is launched.

 

 

[StanHansen]

Bitcoin is pretty volatile these days. Sadly it didn't break $50 000

[Stere]

Tether a fraud?

 

The Bit Short: Inside Crypto’s Doomsday Machine | by Crypto Anonymous | Jan, 2021 | Medium

CRYPTO-ANONYMOUS-2021.MEDIUM.COM

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This is the story of a Bitcoin trade — the most financially impactful trade I’ve ever made in my life. It’s also the story of...

 

 

[Khriss]

Still feeling sad fr that bloke looking for his Bitcoin hard drive in yon tip, god the nightmare of it 😳  K