- From: <chaals@yandex-team.ru>
- Date: Wed, 21 Jan 2015 15:22:27 +0300
- To: Manu Sporny <msporny@digitalbazaar.com>, Daniel.Buchner <daniel.buchner@target.com>, Web Payments CG ?[public-webpayments@w3.org]? <public-webpayments@w3.org>
A rough +1 to what Manu says below (and saves me writing carefully myself :) cheers 21.01.2015, 08:16, "Manu Sporny" <msporny@digitalbazaar.com>: > On 01/20/2015 02:46 AM, Daniel.Buchner wrote: >> šNo, I'm advocating Bitcoin as the rail, not the currency. > > +1 to instantaneous clearing crypto-rails. I don't think that technology > exists yet. >> šUsers would never hold Bitcoin prior to a purchase (unless they >> šwanted to for some reason), and right when they initiate a buy, the >> šUSD/Euro/fiat wallet provider they choose would instantly convert to >> ššBTC JIT under the covers solely to use the Bitcoin network as the >> štransmission rail for the value, and enable a simple, universal, >> špayment UX flow. On the other end the BTC would be instantly >> šconverted back to the local fiat and neither party would have held >> šBitcoin at any point. > > Yes, but the wallet provider does, and that exposes them to ForEx risk, > right? Risk that they need to recoup in fees of some kind? In any case, > sounds like Ripple and Stellar to me, not Bitcoin. >> š- Eliminates the volatility issues (users never hold Bitcoin) > > You can't eliminate the volatility when you're doing ForEx, someone is > always hedging against you. >> šAllows all UAs to implement against Bitcoin's open APIs and do >> šamazing things that are nearly impossible with a standard that just >> šslaps an intermediate layer between the user and legacy payment >> šmechanisms > > Like? >> š- Doesn't exclude banks and other legacy monetary institutions (your >> šbank could be a wallet provider) > > Yes, but who is proposing that we exclude banks and other legacy > monetary institutions? >> š- Standardizes the value transfer mechanism by default > > For some definition of "mechanism" - I think you mean "clearing", which > doesn't solve any of the other problems we have on the web wrt. payments. >> š- Inherently simplifies payment flows > > +1 >> š- the flow of a BTC transfer is already 1 or 0 click > > Yes, but has some properties that are pretty terrible for customers and > merchants: no charge-backs, wallet theft, password/two-factor loss, slow > clearing, etc. > > I'm not anti-Bitcoin; I think it's great, and it has its uses. > However, it's a solution to one part of the problem (clearing), not the > entire problem space we're looking at. Just making sure we keep that in > mind during this discussion. > > -- manu > > -- > Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny) > Founder/CEO - Digital Bazaar, Inc. > blog: The Marathonic Dawn of Web Payments > http://manu.sporny.org/2014/dawn-of-web-payments/ -- Charles McCathie Nevile - web standards - CTO Office, Yandex chaals@yandex-team.ru - - - Find more at http://yandex.com
Received on Wednesday, 21 January 2015 12:22:58 UTC