Just took down our Big Cartel online store and switched to Shopify so we can accept bitcoin.
We accept bitcoin in our shop but were unable to accept it online because we used Big Cartel. Switching over to Shopify was pretty easy, and integrating Bitpay was really straightforward as well. I'm guessing it will probably only take a handful of merchants switching over to Shopify to convince Big Cartel to integrate Bitpay.
I like Square as a company and see a lot of people are bullish about it. However, a few things stop me from investing. Be interested to hear thoughts but at the moment I am a Square bear. Management Jack Dorsey is a visionary. I don’t think this is controversial. However, his track record at Twitter is worrying for shareholders. Be it daily active user growth, ambition with acquisitions but ultimately failure to monetise a fantastic platform where you have big corporations, celebrities and even the President reaching out to 200m daily active users for free. With Square, the closed loop business model of businesses and consumers is again a fantastic concept that could break the power of Visa/Mastercard. Execution remains to be seen, of course. Competition Square operate in a highly competitive field for consumers and businesses. Let’s take consumers based on Square’s fast-growing Cash App. It offers things a normal bank does like deposits, ATM access, money transfer. If it becomes a fully-fledged bank offering loans, credit; it is competing against the likes of big incumbents (e.g. JP Morgan, Bank of America). Granted they’re dinosaur firms but they already have a huge customer base that are older and, therefore, have more money and deposits. This means it is much easier for them to monetise their customers resulting in high ARPU. Why would these lucrative customers, en-masse, want to uproot their finances to Square when their existing providers will be providing the same service by copying Square, as JP Morgan have done this week? Link For businesses, Square’s provides software offering (invoicing, PoS, online store) but face strong competition from the likes of Shopify who are taking a fully integrated service approach to SMEs which allows them to take their business online but also manage all their backend processes, including payments. This is a highly convenient service for entrepreneurs. Shopify already has 6% share of the online retail market. Square also provides hardware products which make it easy for SMEs, in particular, to take payments. However, there is evidence that retail is facing a more permanent shift in the US vs. the rest of the world with 60% less footfall today than a year ago Link. 58% of Square’s GPV is from food/drink, retail and professional services. Square may have good market share but it is a shrinking industry. And as a final piece, competitors in both spaces are generally in very healthy financial shape: Paypal, Shopify, Global Payments, Western Union and big banks are well-capitalised. Valuation Perhaps you can get over the above with the fact that Square has strong network effects and are able to win customers cheaply. However, in my opinion, Square is priced for perfection. Simply looking at a price/sales metric, it is trading 13x LTM. This is high but maybe relatively reasonable for a fast-growing business. However, 25% of Square’s revenue is accounted by Bitcoin “revenue”. This brings little value to Square (2% gross profit) and even Square themselves discount this revenue in their KPIs because it is “out of their control and not reflective of Square’s performance”. Now onto profits. It is not fair to be too hard on Square’s profitability. After all, it is in high growth phase and its marketing costs were its highest opex line item at roughly 35% for YTD. However, a cursory look at it is Enterprise Value / EBITDA (forward look to Dec2020), it is 242x. If we give credit for Square’s business plan for a further two years, today’s Enterprise Value over broker consensus forecast EBITDA for 2022, it is still a heady 77x. This is when Square is supposed to have EBITDA of $1bn which is three times more than it is forecast for Dec 2020. Priced to perfection. If you compare it to Paypal, it is trading at 39x and 27x EV / EBITDA for Dec 2020 and 2022. Conclusion Square has formidable backers like Ark Invest. I am also not a great believer in “dumb retail” overvaluing a stock for a prolonged period of time. But for reasons above, I am cautious with Square and yet it keeps climbing so please tell me what I am missing…
Shopify to support 1,800k cryptocurrencies across 1 million businesses with CoinPayments partnership
Under the terms of the partnership, CoinPayments will now be a visible payment option for merchants on the Shopify platform and will make cryptocurrency transactions easier and more accessible while reducing transaction fees. Vendors will now get paid faster in any of the 1.8K cryptocurrencies supported by CoinPayments.
For someone not familiar with Bitcoin, the first question that comes to mind is, "What is Bitcoin?" And another common question that is often asked relates to the Bitcoin price. It started out a under 10 cents per Bitcoin upon its introduction in early 2009. It has risen steadily since and has hovered around $4000 per Bitcoin recently. So regarding Bitcoin value or the Bitcoin rate this is a most remarkable appreciation of value and has created many, many millionaires over the last eight years. The Bitcoin market is worldwide and the citizens of China and Japan have been particularly active in its purchase along with other Asian countries. However, recently in Bitcoin news the Chinese government has tried to suppress its activity in that country. That action drove the value of Bitcoin down for a short time but it soon surged back and is now close to its previous value. The Bitcoin history chart is very interesting. Its creator was an anonymous group of brilliant mathematicians (using the pseudonym Satoski Nakamoto) who designed it in 2008 to be "virtual gold" and released the first Bitcoin software in early 2009 during the height of the USA economic crisis. They knew that to have lasting value, it like gold had to have a finite supply. So in creating it they capped the supply at 21 million Bitcoin. Bitcoin mining refers to the process by which new Bitcoin is created. With conventional currency, government decides when and where to print and distribute it. With Bitcoin, "miners" use special software to solve complex mathematical problems and are issued a certain number of Bitcoin in return. A question that then arises is, is Bitcoin mining worth it. The answer is NO for the average person. It takes very sophisticated knowledge and a powerful computer system and this combination of factors makes it unattainable for the masses. This applies even more to bitcoin mining 2017 than in past years. Many wonder, who accepts Bitcoin? This question gets asked in various ways, what are stores that accept bitcoin, what are websites that accept bitcoins, what are some retailers that accept bitcoin, what are some places that accept bitcoin and where can I spend bitcoin. More and more companies are beginning to see the value of accepting cryptocurrencies as a valid payment option. Some major companies that do are DISH network, Microsoft, Expedia, Shopify stores, Newegg, Payza, 2Pay4You, and others.Two major holdouts at this time are Walmart and Amazon. Ethereum is the strongest rival to Bitcoin in the cryptocurrency market and many wonder at the question of Bitcoin vs Ethereum. Ethereum was created in mid-2015 and has gained some popularity but still ranks far behind Bitcoin in usage, acceptance and value. A question that often comes up often relates to Bitcoin scam. This author has a friend who made a purchase from a company that promised 1-2% growth per day. The company website listed no contact information and after a couple months the website simply vanished one day and my friend lost all the money he had invested which was several thousand dollars. One has to know how to buy Bitcoins, how to purchase Bitcoin or how to buy Bitcoin with credit card in order to get started. Coinbase is a very popular site to do this. Their fee is 3.75% and the buying limit is $10,000 per day. This would probably be the easiest way to buy bitcoins. Others would like to buy Bitcoin with debit card. Coinbase also provides this service and has clear step by step instructions on how to proceed with either your debit or credit card. There are those who would like to buy Bitcoin instantly. This can be done at Paxful, Inc. and can be done through W. Union or any credit/debit card. Other common questions that come up are what is the best way to buy Bitcoins, the best way to get bitcoins or where to buy bitcoins online. The easiest way is probably to purchase it through a digital asset exchange like the previously mentioned Coinbase. Opening an account with them is painless and once you link your bank account with them you can buy and sell Bitcoin quite easily. This is quite likely also the best place to buy Bitcoins. One must know what a Bitcoin wallet is and how to use it. It is simply the Bitcoin equivalent of a bank account. It allows you to receive Bitcoins, store them and send them to others. What it does is store a collection of Bitcoin privacy keys. Typically it is encrypted with a password or otherwise protected from unauthorized access. There are several types of digital wallets to choose from. A web wallet allows you to send, receive and store Bitcoin though your web browser. Another type is a desktop wallet and here the wallet software is stored directly on your computer. There are also mobile wallets which are designed for use by a mobile device. A question that occasionally comes up is that of Bitcoin stock or how to buy Bitcoin stock. By far the most common way to proceed in this area is to buy Bitcoin directly and not its stock. There is one entity called Bitcoin Investment trust which is an investment fund that is designed to track the market flow of Bitcoin. Some analysts however are calling this a risky way to become involved in this marketplace. The Bitcoin exchange rate USD is a closely watched benchmark both on a daily basis and long term over the last 8 years since its introduction to the world's financial marketplace. A popular company to receive the most current rate in Bitcoin valuation is XE. They show Bitcoin to USD valuation and also the complete Bitcoin price chart, the Bitcoin value chart and the Bitcoin to USD chart. If you ask, "How much is one Bitcoin?" you will always know from their continuously updated charts. Similar questions that come up in this area relate to the bitcoin rate history, the bitcoin price chart live, the bitcoin to dollar exchange rate, the bitcoin dollar chart and the bitcoin 5 year chart. The previously mentioned website, xe, is also a good source for answers to these questions. Regarding Bitcoin cash, ie. to get USD from selling Bitcoin, Bitwol is one company that enables you to do this. WikiHow is another company that will take you through this process.
I've done some searching and can't find anything specific. Hoping to find someone who's well versed in this stuff who might be able to point me in the right way.. I'd like to set up a dropshipping site, which accepts bitcoin. Once someone places an order, I'd order from the manufacturer, and the manufacturer would ship the product. When I receive bitcoin, I'd continue to hold it as BTC, and pay the vendor in USD. I do not want to utilize a BMSP (bitcoin merchant service provider) like bitpay, but I want to process the transactions myself. I plan to set up a LLC, and do everything legitimate; paying taxes, etc. However, does anyone know the laws regarding this? Would I need to register my LLC as a MSB (money services business) and get licensed as a money transmitter? many thanks
It has been shared on multiple subreddits so I have no idea where to even post this. But I'd like to come up with a follow-up thread with some more information. The internet is the most powerful tool that mankind has ever invented. You have the ability to reach thousands, millions and even billions of people with just a computer and some internet access.
If you're on this subreddit, chances are you're already playing Tibia and you already have a computer and internet access. It doesn't need to be the best internet, but as long as websites will load (eventually) you are good to go.
In this topic I will go more in-depth on web development and software engineering. If you have a very slow internet connection, you may want to look into web development instead of software development. An application/software is much heavier (larger file size) than a website. And most developer jobs require that you send and download files, back and forth, between you and your company's server. So if you feel like your internet is too slow to send a lot of files - do not worry! There are plenty of jobs.
First, I will go through some more details on how to learn web development and software development. After that, I will list a few other kinds of jobs that you can do remotely. These types of jobs can be done from anywhere in the world as long as you have internet access.
Part 1: Some languages you should learn
What is web development? Well, it can be a lot of things. You perhaps make websites for shops/restaurants/hair dressers/dentists, or you work for a big company and work on their web application, like Outlook, Discord or Spotify (which can all be accessed via a browser: their web app). You can also work with design and user experience, instead of programming. Being a web developer can mean so many different things, it's impossible to name them all. But most web developers are just developers: they program. They make websites, and they either sell the websites to companies (as a consultant) or you work full/part-time for a company.
I can not provide in-depth information about every single thing, but I can give you some pointers. The very basics any web developer should know is this:
HTML (HyperText Markup Language) - it's what almost all websites use as a foundation. This is not a programming language, but it is a markup language. If you want to build websites, you pretty much have to know this language. Don't worry though, it is easy. Not so much to learn. You can learn all about it in a few weeks.
CSS (Cascading Style Sheets) - it's what will add colors and shapes to your website. If you want to focus more on design (also known as front end development) then this is where you want to gain a lot of knowledge.
Python - A very simple language to learn. This language is very often the first programming language that developers start using. You can use it for a lot of things. This language is used in the back of a lot of websites. Google has been using Python for years and still is. It's great for web scraping and making web requests. If you want a language to practice your algorithms, then this language is awesome.
PHP - This used to be a very popular language, but not so much these days. However, it is very good to know how this works because it's very simple to learn and also very functional in some cases. If you want to transmit or withdraw information from a database to your website, then this (in combination with SQL) is a great way to do so. Whenever you make a login system or a contact form, the data must be sent somehow to a recipient or a database. PHP will help you do that. It is a server-side language, which means it will run in the back of the website.
SQL - To be able to communicate with databases (for example: save data, update data, or insert data) you can use different languages for that. But SQL is probably the most widely used language for this. It is basically just a bunch of commands that you tell your website or app to do. If you have a web shop for example, you will need a database to store all your product information in. You can for example use MySQL as your database and then use the SQL language to extract data from your database and publish it as a list of products on your website.
Java - This is pretty much 90% identical to C# as I wrote above. Widely used, relatively easy to learn the basics and there's plenty of jobs. If you like making android apps, this language is for you.
Part 2: Technologies and useful tools
To become a web developer you will need a few tools. You need a text editor, a FTP client, a SSH client and some other things. Also a good browser.
Text editor: Visual Studio Code, Atom, Sublime Text, Brackets - There are many different text editors but at the moment, I highly recommend Visual Studio Code. It has so many built-in features it's honestly the only thing you may need.Don't forget to install Notepad++ as well - this very basic editor is so handy when you just quickly need to edit some files.
File archiving: WinRar, 7-Zip - You need some way of archiving projects and send it to your customer or employer. These are basic tools anyone should use. I personally use Winrar.
FTP (File Transfer Protocol): FileZilla - This tool will allow you to connect to your website's file manager and upload your files to it. There are many tools for connecting to an FTP server but this is the most popular one, it's simple and it works great.
VPS (Virtual Private Server): Amazon Web Services, Google Cloud - If you want to practice building web applications or want to host your own website as a fun project, it's great to use a VPS for that. Both Amazon and Google offers 365 days of free VPS usage. All you need is a credit card. However, they will not charge you, as long as you stay below the free tier limit. A VPS is basically a remote computer that you can connect to. I highly recommend that, if you have a slow internet connection. Those VPS-servers (by Amazon and Google) usually have 500mbit/s internet speed, which is faster than most countries in the world. You simply connect to them via Remote Desktop, or by SSH. Depending on what type of server you are using (Windows or Linux).
SSH (Secure Shell): Solar-PuTTY, PuTTY - If you for example have a web server where you store applications and files, a great way to connect to it is by using SSH. PuTTY is pretty much the standard when it comes to SSH clients. But I really love the version created by SolarWinds. When you download that one, do not enter your personal details. Their sales people will call you and haunt you! Haha.
File Searching: Agent Ransack - When you have many files and try to locate a specific document or file, you may want to use something like Agent Ransack. Much faster than the traditional search feature in Windows and it is much more accurate.
IDE / Code Editor: Visual Studio - Great tool to use when you want to create applications in C# for example. Do not confuse this with Visual Studio Code. These are two very different tools. This tool (Visual Studio) is more designed for Windows applications. Not just websites. I only recommend getting it if you plan to make programs for Windows.
Web host & domain: NameCheap, Epik, SiteGround - If you develop websites on your own, or maybe want to create a portfolio website, you will need a domain name and web hosting. I have personally used all of these 3 and they are very cheap. NameCheap has some of the cheapest domains and great web hosting for a low price. Their support is also great. Same with SiteGround. And if you want to buy a domain anonymously (with Bitcoin for example), then you can use Epik. Low prices and great customer service on all these 3 websites.
Web Browser: Mozilla Firefox, Microsoft Edge Insider, Google Chrome - You need one of the latest web browsers to create websites these days. Since I prefer privacy over functionality, I've always loved Firefox. But recently, Microsoft has been improving its new version of Edge a lot (based on Chromium) and it's also very popular. If you want all your personal details to be saved and have good tools for web development, then use Google Chrome. Don't forget to utilize the built-in developer tools. You can access it in any of these browsers by pressing F12.
Other things you may want to look into:
Web services, SSL certificates, Search Engine Optimization, Databases, API, Algorithms, Data Structures
If you want to learn in-depth about algorithms, data structures and more. Then you can take a look at the curriculum of the top-tier universities of USA. Such as: UC Berkeley, Harvard and MIT. These courses are very hard and are specifically for people who want to become experts in software engineering. You can enroll some of them for free, like the one on Harvard. And by having a such diploma (which costs $90 extra) can get you a lot of job opportunities. You can enroll those courses if you want, but it can have a fee. But just take a look at what they are studying and try do their exercises, that is 100% free. Get the knowledge. It's mostly on video too! These course below are the very same courses that many of the engineers at Facebook, Google, Amazon, Apple, Netflix, Uber, AirBnb, Twitter, LinkedIn, Microsoft, etc. has taken. It's what majority of people in Silicon Valley studied. And it's among the best classes that you can take. These course are held by some of the world's best professors in IT.
Once again, I just want to share how easily you can accept bitcoin on your online store, or even create a store that ONLY accepts bitcoin, like I did
It's easier than ever to accept bitcoin on your online store. Many popular platforms such as WooCommerce and shopify have plug in and play solutions, there's no excuse to not accept it and it doesn't cost you anything to do so! I've managed to put together a slightly hasty game store that now solely accepts bitcoin, I'd love to know what you think, it's still very WIP but it's a great proof of concept. https://www.ninjagamekeys.com TODO:
Speech Recognition? What function is this, can this be added to the store?
As a result of a predicted boost as well as the development of 2020’s impact on business, the ecommerce market is multiplying. Everyday, even more merchants are making the move to on-line marketing, while business owners are getting their start via ecommerce ventures. By 2022, e-retail earnings will expand to $6.54 trillion, up from $3.53 trillion in 2019. Nevertheless, ecommerce is an ever-changing industry. Yearly, numerous brand-new trends show up that can help your service expand as well as surpass your rivals– 2021 is no various. Keeping up with development trends can make your shop always be liked by customers, so you should never miss these e-commerce development trends.Let’s look at the top 8 ecommerce fads to watch out for in 2021.
1. Voice Business Will Surge.
Individuals are progressively relying upon voice assistant devices like the Amazon.com Mirror with Alexa and the Google Home with Google Aide to do every little thing, from waking them to getting items online. 75% of U.S. houses will have clever speakers by 2025. Voice commerce sales are prepared for to reach $40 billion by 2022. Another reason why voice commerce gets on the rise is the growing accuracy and also comfort of the innovation. Both Google and also Amazon are pressing regional languages in their virtual aide devices to help customers go shopping even more conveniently. Consequently, it is necessary to enhance your on-line store for voice search. Here are four ways to prepare your ecommerce website for voice queries.
Enhance your web content to enhance your opportunities of appearing in voice searches.
Include a new skill on Alexa and Google voice aide gadgets.
Deal voice-based navigating on your web site and also mobile application.
Ensure your products can be bought with a straightforward flow using voice command.
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2. Omnichannel Buying Will End Up Being the New Normal.
Omnichannel selling refers to supplying consumers a smooth as well as consistent experience throughout channels as well as gadgets. In a study by HBR (Harvard Service Testimonial), 73% of respondents stated they utilize multiple channels during their purchasing journey. This data is almost 4 years of ages. With the boost in the adoption of mobile devices and voice aides, I can only imagine that the number of omnichannel consumers will certainly increase a lot more in 2021. Usage analytics tools like Finteza that give thorough ecommerce analytics to identify client actions and track whatever pertaining to the cash flow. An analytics device of this type aids you assess which items remain in need, monitor your profit and loss, as well as evaluate client commitment. Finteza additionally enables you to develop records for occasions that matter one of the most to your service, such as view items, add to cart, check out progress, as well as checkout success. These understandings enable you to provide the exact item that your consumers are searching for and also supply a seamless shopping experience. Below are some even more ways for you to use a seamless omnichannel experience.
Optimize your website for mobile devices. If you have the budget, then create a mobile app or a PWA.
Personalize the customer experience at every step possible.
Use tools like SAP Commerce Cloud to ensure a personalized and comprehensive ecommerce experience with end-to-end online retail processes.
Offer various purchase options, such as
Buy online, pick up in-store
Buy in-store, choose home delivery
Buy online, get doorstep delivery
3. AI and AR Will Enhance the Ecommerce Experience.
Online sellers will certainly invest $ 7.3 billion on AI by 2022. More than 120,000 shops will certainly be utilizing AR modern technologies to use clients an abundant acquiring experience by 2022. Expert system (AI) serves as your on-line in-store affiliate by providing customized guidance and recommendations to your clients. AI uses consumers’ past acquisition history and also searching behavior to show them items they are most likely to buy. Unlike in physical stores, online buyers can not try out or physically inspect the item that they mean to purchase. Augmented truth (AR) assists remove this obstacle by allowing customers see exactly how a particular product would certainly look on them also prior to they purchase the item. By executing AI and AR in your ecommerce shop, you will likely see a rise in conversions and also a decline in the return price.
4. New Payment Choices Will Certainly Emerge.
Payment alternatives are among the major reasons that clients choose a particular brand. If you don’t offer your customers’ preferred repayment approach, they will not purchase from your ecommerce shop. As of now, most ecommerce services approve electronic purses (like Google Pay, Samsung or Apple Pay, and also PayPal) besides debit as well as charge card. Cryptocurrencies, particularly Bitcoin, have several advantages for online store proprietors, such as low deal costs and no reverse purchases. For example, Overstock partnered with Coinbase, a Bitcoin platform, to permit customers to use Bitcoin as a repayment technique. In 2021, we could see more ecommerce companies will begin approving cryptocurrencies for deals. see more at antdiy.vip
At first glance, DAI and MakerDAO are a lot of acronyms and lingo that can be slightly intimidating. Anyone can become informed and participate. Dive in as much or as little as you want. Learn to buy, save, or beyond. The secret to knowing DAI (or faking it until finding an answer) is found in the Awesome MakerDAO Community Resource Guide. Still have questions? Want to get involved? Visit the MakerDAO Community Forum and ask. The community is made of interested people like yourself, and Community Leaders from MakerDAO. Share your skills in growing the MakerDAO Community, no experience necessary. The MakerDAO culture is very warm, welcoming, and ready to help. We would love to meet you!
The following polls ran from February 10 - 13, 2020 with voting results identical to the current set values, therefore they were not part of the Executive Vote this week. Follow the link for more details:
You are invited to join us and help shape the future of MakerDAO. Every Thursday, 17:00 UTC Governance and Risk Meeting Community Guide * Understand the issues that are discussed and governance themes that get explored to build a healthy, secure, Maker Platform. * Get info on how to connect by phone or webcam. * Explore meeting archives.
Weekly Community Development Meeting - Tuesdays 09:00 PST
Weekly Governance and Risk Meeting - Thursdays 09:00 PST
How to Purchase DAI with Cash in the U.S. (No Bank Account, Credit Card, or Debit Card Required)
Maybe you have visited the coinstar machine in the grocery store when cashing in your stockpiles of change, or just seen them when checking out. These kiosks now offer the ability to buy Bitcoin with cash. You can easily turn that into DAI and lock in an amazing savings rate on the Oasis DeFi platform by MakerDAO.
Open a Coinbase account and complete the 'know your customer requirements'
Purchase Bitcoin from the Coinstar Kiosk using cash. A voucher will be printed that you can redeem online
Use a Coinbase receive address for Bitcoin when redeeming your voucher
When the Bitcoin has posted to your Coinbase account, select Trade to turn your Bitcoin into DAI (Specify an amount or choose the maximum amount to exchange all Bitcoin)
Send your DAI to a Web3 capable wallet such as Metamask or Coinbase Wallet and head to Oasis
Click 'Save' and follow the prompts to lock your DAI into an amazing savings interest rate, that not even your mom's credit union could match!
Toronto-based Homebrew Supply Store now accepts Bitcoin for all purchases online and in-store
Hey BitcoinCA, my Homebrew (Beer Brewing) supply store in Toronto now accepts Bitcoin for all purchases online and in-store! We are using the Coinbase Commerce integration with Shopify to accept BTC, LTC and ETH for anything at www.torontobrewing.ca - I can help you put beer on tap in every faucet of your house. Seriously. Feedback welcome and if you have a Shopify store, let me know if you have any questions or if I can be of any help getting setup. Cheers.
Why Cryptocurrency is Failing at Adoption - We're Giving Control Back to Banks, Corporations, and Government
Why Cryptocurrency is Failing at Adoption
Cryptocurrency has come a long way in a short amount of time. That said, one area I think cryptocurrency is falling short is adoption. By adoption I mean people buying things from stores, people buying things online, and people conducting transactions between themselves ie I pickup dinner for a buddy and he pays me back with say Litecoin for example. Now I'm not saying this is a small feat, the concept of getting people to change their entire worldview on money and commerce is a tall task. That said, until we see greater adoption and use of cryptocurrency, it remains nothing more than something we can speculate and gamble on. The utility is there, but if that utility is not being used, it's just something to speculate on and nothing more. Now before you start thinking I'm being overly critical of crypto, I'm one of cryptos biggest cheerleaders. I'm self employed and work full-time in e-commerce. One of my businesses is considered "high risk" by the merchant processing industry and therefore it's very difficult to get credit card processing. I had to contact over 300 processors to find one who would take me on, even then I had to jump through hoops to get accepted, and I pay 7% for processing when your average business pays 2.9% or even substantially lower, so I have a personal use case for crypto in my business, the problem is not enough of my customers are willing to pay in crypto.
Where is Crypto Falling Short?
So you may be asking okay smart guy, where have we gone wrong? With cryptocurrency the beauty of it is that there's no central authority, however that's also a shortfall as there's not necessarily one person to give direction, and when things do fall short there's nobody to blame but "they" or "we", basically the community itself, so this makes it challenging to make changes. Here's where I feel cryptocurrency has fallen short at adoption...
Crypto Debit Cards
Crypto debit cards were way overhyped. I get it, people are used to using debit cards so tying crypto into debit cards makes it familiar and makes it more usable to many people. That said, as we've seen, when you have a Visa or Mastercard logo on the front of a credit or debit card that puts all the power back into Visa and Mastercards hands. All the benefits of crypto ie anonymity, no chargebacks, no rules about what can and can't be sold, no holds or reserves, all these things go out the window as soon as Visa and Mastercard get involved. We've seen this happen time and time again when we hear stories about Visa and Mastercard shutting down various crypto debit cards. Also on a KYC and compliance front, there's often rules such as you can only load $500 or $1,000 onto a debit card without providing name, address, ID, social, etc. While I'm not saying crypto debit cards are completely pointless, they aren't the answer to mass adoption as they remove nearly all the benefits of cryptocurrency, I may as just be using my regular debit card. I think the community fucked up making these things seem like the best new thing since sliced bread.
Focusing on Merchant Processing Instead of Payment Gateways
I'm sure you guys have heard of Bitpay and Coinbase's crypto merchant processing programs. You use a third party company like Bitpay or Coinbase to accept crypto on your behalf. This kind of goes back to the problem above, introducing third parties. The whole point of cryptocurrency is getting rid of third parties and intermediaries who tack on fees and try to control you and make rules for you. By using a third party processor were back to the problem of introducing unwanted third parties. The point of cryptocurrency is to be direct payments from consumer to merchant. Now I realize that some companies sell products with a hard cost and can't be subject to the volitility of crypto. We'll take someone selling DSLR cameras for example, if they buy a Canon SL2 for $500 and they sell it for $700 that leaves a $200 profit. That said if they accept crypto as payment and they accept $700 worth of Bitcoin, and don't sell it right away, it's possible that the camera they paid $500 for, they now only have $400 in Bitcoin for the payment, because of that volatility. Because of that I think it's understandable that some merchants will need to use a merchant processing company to immediately convert crypto to fiat, or at least a portion of each transaction to at least cover their hard costs. On the flip side however someone who is selling digital products which have no hard cost, they can afford the volatility since they won't necessarily be losing money. Imagine I create digital wallpappers and sell them online. The cost to create them is my time, and whether I sell 1 of them, or whether I sell 1,000 of them, it's not really costing me anymore money to sell more so I can afford a bit more volatility. Here's what it basically boils down to though. We need more Payment Gateways and not Merchant Processors. So what's the difference? A Merchant Processor is like Paypal or Stripe. They collect the money from the customer, and then a day or so later issue it to you. They are actually holding the funds. Because of this they have to follow KYC policies, they need to be registered as an Money Transmitter or Money Services business, and they are also required to offer chargebacks. It's for these reasons that they often have such stringent rules and high fees. In the world of eCommerce when we bring in a third party, in a large way that kind of defeats the point of cryptocurrency. So Coinbase rolled out a new service called Coinbase Commerce. I havn't personally used it, but from the research I've done it seems that this is a payment gateway and not a merchant processor. I say this because the money goes to your own wallet where you control the keys. Coinbase never touches that money, they simply offer the software that allows it to be sent and which helps you on the backend of your SHopify store matchup a payment on the site to a transaction on the blockchain. This solves a huge problem. A while back I tried to accept crypto through a Shopify store and there was no good way to do it. It wans't streamlined or automated. I would have to add a custom payment option. The customer would then have to say I want to pay with Bitcoin. I would need to e-mail them to give them an address to send to. They would have to send me the Bitcoin at which point I would then have to manually check the transaction on the blockchain to make sure it was actually sent and to make sure the amount was correct, and then I could ship their product. This process was not convenient or easy on myself or my customer. What Coinbase Commerce does from my understanding is pretty much automate and streamline this whole process. This means my customer and I don't need to talk with one another just to make a simple crypto transaction, the whole process is automated, and I can easily see that the customer has made payment through my Shopify store. If my understanding of Coinbase Commerce is correct this also means that at no point during this process does Coinbase actually touch the money. The beauty of Coinbase never touching the money is that they aren't a money transmitter or a money services business. They don't have to follow rules about chargebacks, they don't have to track my business and issue a 1099 at the end of the year, and they don't have to place rules on what I can and can't sell, that's completely on me. I think this is what crypto needs more of. We need more payment gateways and less merchant processors. Merchant Processors while they do serve an important role for businesses with hard costs, for other businesses they just get in the way and have too many costs and too many rules.
I guess my point is this. Cryptocurrency is unique to money and payment processing. We need to embrace this uniqueness and take advantage of the lack of power and control it allows corporations and government. To date most of the adoption of crypto I have seen is nothing more than partnering with and giving power back to banks, credit card companies, and merchant processing companies. *** I neglected to add something about Litepay. Litepay came to a screetching halt before it even began because it relied top much on the current banking system allowing it. Only a registered business can accept Litepay where as with stripe or paypal anyone can start as a soleprop today in minutes
Hi Bitcoiners! I’m back with the 32nd monthly Bitcoin news recap. For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you an overview of what happened in bitcoin over the past month. You can see recaps of the previous months on Bitcoinsnippets.com A recap of Bitcoin in August 2019 Adoption
How Blockchain & E-Commerce Makes A Successful Combination?
It’s been a decade when the revolutionary concept of online selling was introduced to the world and the evolution of this industry has been exemplary. Within the past few years, the concept of ecommerce has been intensely affected by continuous technological advancements and blockchain is one of them. Blockchain offers a variety of new opportunities for the industry through its unparalleled potential; eliminating mediators to centralize operations, reducing complexities for ecommerce businesses to resolve their long-term challenges. However, it’s important to mention that this technology is the foundation of cryptocurrency payments which makes it more important for the e-commerce domain. It would be appropriate to say that blockchain is poised to change the way transactions are made. In continuation, both traditional selling stores, as well as e-commerce businesses, should be prepared for radical changes. Our focus will set on analyzing the impact of blockchain technology on e-commerce businesses in coming future. But prior, we need to clarify some important questions about the Blockchain technology. Those buzz will be helpful for you to spend on the services of a professionalshopify development company in an effective manner. What is E-commerce Blockchain? A traditional ecommerce store always has a large number of customers, inventory and transaction data, which requires adequate management & storage for effective results. In blockchain technology, this situation is addressed by combining transactions in block form and connecting those blocks in the form of a chain. Here every block is stored on individual computers hereby making it secure & scalable. How are Blockchain transactions verified? Transactions in Blockchain has a legitimate process of verification. Every node has a complete history of transactions and whenever there is a new happening transaction, the node performs several checks to ensure that it’s a genuine one. The process starts with a signature validation and if not valid then gets denied promptly hereby making it impossible to falsify the authenticity. Hiring a professional developer is most suitable if you are new to Blockchain technology integration. But prior to having a look at the unleashed potential of blockchain for the e-commerce industry, it’s required to understand the potential challenges and pain points it faces. The survival, sustenance and growth in E-commerce is difficult due to its complexity as a domain and to start here is a challenge in itself. Let’s have a look at some of the key challenges faced by the sellers on a day-to-day basis as well as in the long run. The e-commerce industry is becoming highly competitive, with existing players offering similar products and services and more sellers are joining the bandwagon at a rapid pace. It requires businesses to adapt smart business models & technologies to sustain in the race. Another pain point of the sellers is the presence of a middlemen in traditional business models who shares a hefty percent of earning in the selling process. Also the sellers have to pay a transaction processing fees to facilitate payments for completing the transactions. This fee reduces the profits of sellers to a considerable extent and result in lower revenues. Another key concern for these businesses is the protection of consumer data as they require to build the customer’s trust by assuring them about the complete safety of their personal as well as financial details. The implementation of data security regulations; General Data Protection Regulation (GDPR) has made data security an important concern for ecommerce companies. This is prime reason for sellers to invest more in data encryption and other measures for preventing hacks. There is an array of operations like supply chain, logistics, payments included in ecommerce business and management of these operations is a key challenge for the industry. From correct inventory replenishment, proper arrangement of shipping and delivery functions, to managing customer relationships are few of a lot things needed to be managed by the merchants. And since all these challenges can be overwhelming the sellers from very start of online selling, they have been searching for a technology that’s capable of handling them all. Fortunately, blockchain technology is a suitable answer for all these questions and being a decentralized system, it offers a lot of benefits for the e-commerce domain. E-Commerce Will Be Driven By Blockchain In Future Regardless of all the positive impacts e-commerce industry has on the world economy, things have not been fruitful for the sellers in the domain because of the challenges since the origin. Also, it has been seeking for a secure technological backbone to support it and address the diverse challenges it faces. Luckily, the Blockchain technology is ready to give it the same today through an array of features: Operational Efficiency: The decentralized model in Blockchain makes it capable of assigning operations and drive efficiently. Smarter contracts are passed down to regulate the intermediates like logistics and payment processing partners. It facilities the integration with several management systems to streamline the overall workflow as well. Blockchain offers the clients complete ownership of their assets like digital storefronts, product photos, and videos, and reviews. Assured Payments: Another significant advantage is the transparency in transactions, which increases a buyer’s trust. Every transaction is taped in a shared ledger which cannot be modified by anyone. Users avail high-security, faster processing speed, and radical visibility along with traceability through decentralized system. Also cryptocurrencies lower the transaction costs for international e-commerce stores. Cost-Effectiveness: Bitcoin is a well-known and most utilized case for this technology. Online sellers can trust bitcoin and other cryptocurrencies to get in-budget payment solutions and since there are no payment processes involved, currency can be accepted at a zero processing fee by the sellers. Additionally, blockchain offers a decentralization of marketplaces, letting the inherent costs going down automatically. It also provide better pricing for online retailers for the customers as the savings are passed to them. Data Security: Consumer data of an e-commerce store is always on a vulnerable point due to weak encryption, since well-encrypted systems can be hacked by the tips and tricks used by modern hackers. The presence of a decentralized ecosystem makes it impossible to hack from a single point, enabling sellers to safeguard the sensitive customer information and databases. Conclusion Since there are extensive benefits of e-commerce Blockchain making it imperative for businesses to grasp for massive growth. If you require transparency in business transactions and manage your consumer data reliably, this technology is the best solution for you. Having a right technology partner is must for you to use this futuristic technology at fullest and take your business to the next level. AtPro Web - Unisys we develop robust e-commerce solutions to open unlimited opportunities and take your e-commerce business to the next level. Blog Source URL:https://www.prowebtechnos.com/how-blockchain-e-commerce-makes-a-successful-combination/
I own a successful drop shipping business that just made 100k in sales last month and expecting 650k total for 2016. Ask me almost anything!
Hey guys. I wanted to share my story for a while now and I feel that it’s a great time to do it. Proofs are at the end of the this post. I’m a 25 years old entrepreneur who failed a lot of businesses in the past. I made my first website at 8 years old and since then, I've been making websites for fun and trying to get some revenu here and there. When I was 22 years old, I started my business while I was in University (Computer science) to generate a side income. After my website was online, I got my first sale without advertising it within 1 or 2 days (I can’t exactly remember). Considering my average product cost is around $400, that was a big deal for me. Later that year, I was kicked out of school because I failed the same class twice. I had to wait a year before I can enroll again. I decided to start working full-time and work on my business in the mean time. In May 2016, I left my full-time job to focus on my business. I did this because in 2015, my salary from my business was double of my full-time job. I knew that I can grow it even further so I wanted to focus 100% of my time on it. This year was my best year so far. I doubled my numbers of the previous year. Last month (November 2016), I made a little over 100k in sales thanks to black Friday. This is about 20k in net profit in 1 month and half of that was made during Black Friday and Cyber Monday. Since I have no employees, office etc, I usually pay myself 90% of the profit as a dividend and keep 10% for the company. This allows me to still use the business name when purchasing expensive goods like my car. Since I have multiple suppliers, I don’t have a fix margin. My margin is currently between 30% and 50%. The fun part of my niche is that all brands have a minimum advertised price policy (MAP) so I never have to compete in price against other resellers. It’s all about marketing and content. My gross profit is around 25% and my net profit is 19% - 20%. Expenses include website, transaction fees, car, insurance, gas, restaurant, business trip, cellphone plan etc. I still have a good amount at the end of the year and less expenses under my name. I expect my net income to be around 100k this year. I am also expecting to end this year with about 650k in sales. I built my brand as a premium reseller in my niche market. I often receive requests from manufacturer (mostly in China) offering me to sell their products with a high profit margin (50%+) but I always decline since I don't want to sell cheap products. Last summer, I removed a brand from my website because it took the manufacturer 1 month to help me process a warranty claim. This was unacceptable for me since it's my brand that gets hurt. Later that year, they revised their communication system and we started doing business again a few weeks ago. I also focus a lot on original and good content. Links to my website are often shared in forums and Reddit since my posts/pages are useful for my potential clients. This created a lot of random websites copying my content, even my texts and pictures. I often keep an eye on my "competitors" since they literally steal my pictures, remove my logo from them and post them on social media or their website. One of them even copied 100% (text and pictures) of my most visited page and posted it as his own on his website. Fortunately, Shopify has a good DMCA program and I was able to get his page removed within 2 days. I guess having copy-cats means that I'm doing something well. What else I do as an entrepreneur and goal for next year Beside the regular retirement plans and investment portfolio, I have a small Bitcoin portfolio since my store accepts bitcoins. I also invested some money in a condo that I’m currently renting while I live with my SO in a rented house. I’m currently working with my main supplier to become the exclusive reseller in Canada. This is a huge deal for me since my company will keep making money in the US market as a drop shipper while I generate a new stream of revenue in Canada as an exclusive reseller. This means that I'll have to rent a warehouse and hire a staff to help tackle this new adventure. I am confident that the manufacturer will agree so hopefully we can get this going after the holidays. Drop shipping is fun at first but after 3 years, I feel that I need a new challenge. Proofs I always wonder why people don’t post proofs when they say that they did something. Here are some screenshots to confirm my claims. I currently have 2 stores selling the same products but in 2 different countries. I also didn’t sell on Amazon until this year. During this last summer, I had to shut down my second store unfortunately but it should be back up in the next few weeks. Sales made in 2014: Store 1 - Store 2 Sales made in 2015: Store 1 - Store 2 Sales made in 2016: Store 1 - Store 2 - Amazon Sales made in November 2016: Store 1 - Amazon Traffic: 2015 - 2016 I wanted to answer some questions since I know that a lot of you are interested by drop shipping businesses. I’m no expert but if I can help someone, I will be glad to. Edit: I am going to start replying to PMs as soon as I can. If I can't today, I will do it during the weekend for sure!
What is the Most Updated Way for a Shibe to Accept Dogecoin for general eCommerce?
Back in the days of being able to set up a store to accept Doge on Moolah I was making shirts (designs can be seen here) that had back then been selling on Red Bubble and Zazzle. Just recently I had found a way to add them to Etsy. However without a way to accept crypto it does kind of stink still. I was about to go through the process of signing up with GoCoin and maybe going with some kind of WooCommerce or Shopify option but while doing a little online searching found this /bitcoin/ post just ten days ago https://www.reddit.com/Bitcoin/comments/b8pcki/adding_bitpay_coinbase_and_gocoin_to_website/ if you go through the comments things go pretty harsh on a lot of these payment systems. I would love to be able to in the end sell the shirts and other wares on OpenBazaar and more decentralized systems, but without the availability of a crypto ondemand print service I see these middlemen payment systems as the only thing. What options do you know of?
Shopify (Shopify stores) You may be familiar with Shopify, a world-renowned e-commerce platform that allows merchants to set up their own online shops and sell goods in a similar way to Amazon, eBay, and other online giants. In 2013, all Shopify merchants received the option to accept Bitcoin payments with the help of a service called BitPay. Some of the advantages of using Bitcoin over another online payment network, such as PayPal, or even your bank, are: It can be used in any country without the need for currency conversion; Sending money to a business or individual costs less per transaction; There are no limits to the number of transactions you can initiate each month; Your account cannot be frozen or suspended; Transactions ... Browse bitcoin pictures! Our new cryptocurrency collection features high-resolution photos of gold logo coins, people buying BTC at ATMs, mining bitcoin, and trading the decentralized currency. These premium money images are perfect for blog posts about Bitcoin price and any other crypto-related commercial project! How to accept Cryptocurrencies on Shopify Stores. In this article we are going to be discussing the benefits of accepting Cryptocurrencies on Shopify, as well as show you how to integrate the CryptocurrencyCheckout Platform into your Shopify store so that you can start accepting Cryptocurrencies like: Bitcoin, Litecoin, Ethereum, Dash, and many more as payment for your sales. Coin now supports native checkout for multiple currencies on stores using Shopify Payments! Overview. Reach more shoppers by supporting all of the global currencies on your Shopify store. Coin converts all of your product prices to your shopper's home currency either automatically based on their IP address, manually through the currency switcher, or both. Features. Supports 193 currencies ...
HOW TO Become An online SHOPIFY/ BITCOIN Millionaire Success Story!
Setup Shopify with Cointopay Crypto Currency services. In this example we configure the Cointopay account to accept CannabisCoin as Preferred Currency. Also Bitcoin, Litecoin, Darkcoin, Blackcoin ... HOW TO become an online shopify/ bitcoin millionaire success story Contact me for help & please subscribe http://www.instagram.com/dreamwithdre SHOPIFY STRUG... http://ytwizard.com/r/7tNDmm http://ytwizard.com/r/7tNDmm Bitcoin And Crypto-Currencies For Shopify Store Owners What Bitcoin Is, Why Consider Accepting It A... If you're interested in finding out more information about Shopify and Bitcoin, then this... Skip navigation Sign in. Search. Loading... Close. This video is unavailable. Watch Queue Queue . Watch ... Why and How Fortune 200 Tech Provider Avnet Began Accepting Bitcoin BitPay Interviews Avnet at MRC - Duration: 7:01. BitPay 118 views