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    BTC Bitcoin Cash Point Of Sale

    January 30, 2018

    BTC Bitcoin Cash Point Of Sale

    Bitcoin Cash Point Of Sale

    Posted: 29 Jan 2018 09:04 PM PST

    Shameless self-promotion incoming.

    I have completed the first prototype release of a Bitcoin Cash Point of Sale System written in JavaScript, now live at https://pos.cheddr.cash/

    Screenshots available here: https://imgur.com/a/D3V4r

    Current Features:

    • cashaddr address format - all legacy addresses are automatically converted for your safety and convenience

    • Multiple fiat currencies, exchange rate updated automatically

    • Settings saved using HTML5 local storage

    • No private keys - your private data is never stored or transmitted

    • Servers not required - runs entirely in your browser

    Cheddr only currently supports one recieve address at a time however I never encountered issues as long as you aren't trying to use multiple tabs at once.

    For vendors requiring multiple checkouts, I recommend generating a unique recieve address for each point of sale location.

    For vendors that already have existing Point of Sale systems the quickest way to complete a Bitcoin Cash transaction is:

    1. Press New Transaction button from main screen

    2. Enter final amount using keypad

    3. Press check-out button (no need to press the add key)

    4. Show the customer the generated QR code (or copy the address)

    5. Press the confirm payment button to check the blockchain

    The transaction check occurs a maximum of four times with a three second wait in between each attempt as we don't want to abuse the the public API.

    Did not run into any major issues during my testing although you may be returned to the check-out page on the rare occassion there is an "Could not confirm transaction" error.

    I have found waiting a few seconds before trying again usually resolves the issue in most instances.

    If you prefer not to use the website, you can download a copy of the code and run in any modern browser (An internet connection is still required). The code is available in full at: https://github.com/stabwah/cheddrme

    Please be aware the code will be updating frequently as this is still pre-release software.

    The UI can use some improvement, would be eternally grateful to anyone that can help out with styling and/or graphics.

    submitted by /u/stabwah
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    Wyoming - The Grand Cayman of Cryptocurrency?

    Posted: 29 Jan 2018 05:00 PM PST

    "If Lightning wasn't used as an excuse to not scale on-chain, I would be all over it" - a good thread on twitter I agree with

    Posted: 29 Jan 2018 10:28 PM PST

    /r/bitcoin is censoring the NIST report that says "Bitcoin Cash is the original blockchain" and Bitcoin Core is not. If you have to censor to get people to believe you, then you have lost.

    Posted: 29 Jan 2018 06:22 AM PST

    Does lightning network really require a vendor to remain online 24/7?

    Posted: 29 Jan 2018 11:35 PM PST

    Seems so backwards and unrealistic. I sell products online and the whole idea (and thing that makes it incredible) is I can go turn my PC off and sleep, go away for a week, whatever.... And buyers still send me money.

    submitted by /u/Ronnie55
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    Charitystars Auction With Roger Ver Raises $87K for Antiwar.com

    Posted: 29 Jan 2018 07:46 PM PST

    Instead of actually working to improve BTC, Luke Jr lurks in r/btc to bash on Bitcoin Cash

    Posted: 29 Jan 2018 10:35 PM PST

    PSA: As more BCH friendly miners come online (Calvin Ayers & Others), BTC could be left high and dry.

    Posted: 29 Jan 2018 11:17 PM PST

    Can Bitcoin Cash Scale On Chain? - Article by Chris Pacia

    Posted: 29 Jan 2018 03:38 PM PST

    Let's make it possible to send Bitcoin Cash (BTC) over e-mail!

    Posted: 30 Jan 2018 12:28 AM PST

    I know we shouldn't propose enhancements to the main coin such as Bitcoin Cash if those enhancements are basically stolen from an altcoin that we secretly admire and want to do well. However, I really want Bitcoin Cash to beat the crap out of shitcoins such as Corecoin and the old-peoples-painkiller-coin because the well-being of my ego depends on it. For that reason, I want everyone to take a minute and read this announcement from Byteball:

    https://medium.com/byteball/sending-cryptocurrency-to-email-5c9bce22b8a9

    What we have here is a special implementation of brainwallet that can be swept/claimed by scanning a QR code. Technically it is very simple concept. You represent the private key of some Bitcoin address with 12 random words and you make it possible for all wallet implementations to spend all the coins to yourself from that address without importing the private key. When sending bitcoins over e-mail in such a way the recipient should be directed to a special landing-page that instructs how to claim those coins.

    We can do it because we have on-chain scaling! We should make the most out of it :)

    submitted by /u/1Hyena
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    OpenBazaar developer explains why using the Lightning Network would be a step backwards for them

    Posted: 29 Jan 2018 07:00 AM PST

    New Zealand’s Bitprime Exchange Enables Bitcoin Cash Support

    Posted: 29 Jan 2018 03:34 PM PST

    /r/bitcoin shills and Core shills trying to get the NIST report altered by contacting the authors. Pathetic. Bitcoin is a name, not a brand; not owned by a person or people.

    Posted: 29 Jan 2018 01:52 PM PST

    Charlie Lee

    Posted: 29 Jan 2018 11:10 AM PST

    3 days after tether ended its relationship with audit firm Friedman LLP... It is still there!

    Posted: 29 Jan 2018 08:51 PM PST

    Lightning Network is being built for *banks* and not for regular users. It is being pushed and falsely marketed as a solution for users. Just like they did with Segwit as being a solution to the block size issue.

    Posted: 29 Jan 2018 09:23 AM PST

    The "solution" of LN does not solve issues that regular people encounter. In fact it makes things more difficult. It's for banks to settle on. There is not another practical use.

    It is my belief that LN's actual intent has nothing at all to do with helping regular users.

    Look what Chris Pacia from Open Bazaar has to say:

    To be more specific:

    1) Vendors need to remain online 24/7 to receive orders.

    One of primary pieces of feedback from OpenBazaar 1.0 was that vendors did not like having to run a server on their home computer 24/7 to make sales. That requirement was a remant of the original Dark Market design and it was one of the primary things we wanted to change for OpenBazaar 2.0. For 2.0 we spent an enormous amount of time re-architecting OpenBazaar (and moved to IPFS) specifically to allow vendors to receive orders while they are offline. With the LN vendors need to remain online to provide a hash to all would-be purchasers to kick off the lightning payment. If the vendor is not online, the payment cannot be made. This would represent a significant regression in the user experience and would bring back the primary user complaint from OpenBazaar 1.0.

    2) Vendors cannot receive LN payments without a third party liquidity provider.

    If a vendor opens OpenBazaar, opens a payment channel, lists some items, then receives an order, the buyer cannot pay for the order over LN since the vendor's counterparty does not have any funds in his side of the channel to send to the vendor. The only way for the vendor to receive an incoming payment is to have buyers open a direct channel (innefficient and unacceptably expensive) or open a channel with an intitutional liquidity provider who agrees (probably for a fee) to deposit money in the vendor's channel to facilitate incoming payments. This is not a great UX and introduces some significant friction into the app (not to mention no such insitutional liquidity providers currently exist). Moreover it's difficult to calculate exactly how much money the liquidity provider should deposit in the channel. Is $1,000 enough? Hard to say. If buyers try to pay more than $1,000 worth of orders before the vendor can spend the coins out of the channel (presumably to an exchange) then the those additional payments cannot be made. This creates a weird UX where the vendor has to continually try to juggle the amount of funds available in the incoming side of the channel to ensure that there is enough liquidity to facilitate payments.

    3) Vendors will need third party "watchers".

    Since OpenBazaar users have expressed distain for a requirement to a full node to use the software, they would be left with the rather ugly solution to having to hire a third party "watcher" (which currently do not exist) to protect them from fraud.

    4) Lightning currently does not do multisig.

    Escrowed payments are a necessary prerequisit for any decentralized marketplace to function. In theory lightning payments could use 2 out of 3 hashes in the HTLC, but no software currently supports this functionality and doing so introduces dramatically more complexity on top of an already dramatically complex protocol. And it would require the moderators to remain online at all times else escrowed payments could not be made.

    5) It's not clear that LN payments will be 100% reliable.

    Whether a payment can find a route depends on how many people use LN and how they use it. If the routing paths simply do not exist or if they exist but lack the needed capacity than payments can not be made. For an app like OpenBazaar to gain any kind of sizable user base, the app (including the payment layer) needs to be 100% reliable. If this is not the case it will make the app feel broken and discourage many people from using it. At this point in time we do not know if 100% reliability in payment routing is likely or not.

    In my opinion at present time using just about any coin other than Bitcoin removes all of the above frictions and provides a much better user experience. Unless the benefits of lightning (relative to the alternatives) outweigh these costs outlined above, or they find a way to remedy the issues defined above, it doesn't make much sense to implement LN in OpenBazaar. Source

    ———————————————

    Now, look what Ryan X. Charles (CEO of Yours.org) says about LN:

    https://www.youtube.com/watch?v=Ew2MWVtNAt0

    ————————————————

    Both the above people are heavily involved with actually using bitcoin from a business point of view. They are not just casual onlookers. And they say LN doesn't work for them. The only conclusion I can come to is:

    LN is for banks. Only.

    submitted by /u/BitcoinIsTehFuture
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    1 BCH can provide 6,520 meals for the hungry in the US. 1 BCH can provide 3.5 years worth of direct sponsorship for a child experiencing third world poverty.

    Posted: 29 Jan 2018 10:01 PM PST

    Sources:

    https://www.foodbankrockies.org/

    https://feedmore.org/about-us/who-we-are/

    https://www.compassion.com/sponsor_a_child/default.htm

    ...

    Then the angel called the two of them privately and said to them: "Praise God and give thanks to him; exalt him and give thanks to him in the presence of all the living for what he has done for you. It is good to praise God and to exalt his name, worthily declaring the works of God. Do not be slow to give him thanks. It is good to guard the secret of a king, but gloriously to reveal the works of God. Do good, and evil will not overtake you. Prayer is good when accompanied by fasting, almsgiving, and righteousness. A little with righteousness is better than much with wrongdoing. It is better to give alms than to treasure up goldBTC. For almsgiving delivers from death, and it will purge away every sin. Those who perform deeds of charity and of righteousness will have fulness of life; but those who commit sin are the enemies of their own lives.

    submitted by /u/2012ronpaul2012
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    Resolved: I will now refer to LN as 'LolNet' whenever I see a 'Bcash'er mention 'Bcash' in this sub.

    Posted: 29 Jan 2018 07:36 PM PST

    LolNet. Rolls off the tongue much better than "Lightning Network".

    'LOL' in CamelCase. 'Net' as in network.

    Why? In the words of /u/gizram84 , notable 'Bcash'er:

    "For the same reason I call McDonalds "Mickey D's" and Jennifer Lopez "J-Lo".

    If I want to be specific about which implemention I mean, these are my options:

    • Blockstream's: BSLolNet (pronounced BS-LolNet)

    • Lightning Labs: LLLolNet (pronounced LL-LolNet)

    • ACINQ: ALolNet (pronounced A-LolNet)

    If there are any other implementations they've fallen off my radar so I won't refer to them :-D

    The gloves are off on playing dumb word games. Let's see how long they last.

    UNTIL FURTHER NOTICE

    Why some people call Bitcoin Cash 'bcash'

    submitted by /u/LovelyDay
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    Since Tether's spokesman said that a full audit will be released "as soon as possible" on December 1st of 2017, Tether issued nearly $1.4 Billion in USDT

    Posted: 29 Jan 2018 12:19 PM PST

    Hey r/BTC, You up for some coffee? Tell Starbucks YOU got the Cash if They want it!

    Posted: 29 Jan 2018 09:18 AM PST

    Centbee Receives Funding from nChain and “will be rolling out mechanisms for merchants to accept Bitcoin Cash payments more cheaply and securely than current bank payment systems” in South Africa.

    Posted: 29 Jan 2018 09:35 AM PST

    The 2018 Satoshi’s Vision Conference Heads to Japan

    Posted: 29 Jan 2018 03:36 PM PST

    Cøbra calls for dropping "Bitcoin" to just keep Core !!! "The name “Bitcoin Core” is quite unfortunate. No browser calls itself “HTTP Core”. Better if we just called it “Core Wallet” instead. Less confusing if the software implementing a protocol doesn’t have the name of the protocol in its name."

    Posted: 29 Jan 2018 11:39 AM PST

    Us Government Scientists: “Bitcoin Is a Fork and Bitcoin Cash Is the Original”

    Posted: 29 Jan 2018 02:24 PM PST

    He's not wrong...

    Posted: 29 Jan 2018 05:14 AM PST
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