Payment Processing — Bitcoin

Bitcoin - The Currency of the Internet

A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
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Zcash

Bitcoin and most cryptocurrencies expose your entire payment history to the public. Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.
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TumbleBit - Bitcoin Privacy Enhancement

TumbleBit is a payment protocol that enhances the privacy of Bitcoin users using fast cryptographic computations and standard scripting functions.
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Problems with Bitpay and BIP70 Bitcoin payment protocol

I've been taking some heat for my criticisms of Bitpay and their requirement to use BIP70 payment URLs, so I thought I'd do a post about the subject. My experience with Bitpay has been disastrous. I've seen the BIP70 payment URLs completely fail many times, in several different ways. Several times I've made a BCH payment only to be told that Bitpay can't process BCH right now, resulting in a long process of obtaining a refund. Several times I've had the payment time out due to network congestion, again requiring a refund. Several times I tried to decode the Bitpay BIP70 URL with this tool and others, but those payments failed as well, again requiring a refund. Sometimes the Bitpay API server was down, making payment impossible. Other times my wallet wasn't supported.
In short, every time I see a merchant accepting only Bitpay payments via BIP70, I reconsider if I want to continue trying to pay that merchant and deal with the inevitable resulting headache. Others have said "it works, it's part of the industry, it's needed to prevent mistakes and double spends", etc., but that has not been my experience. I make direct crypto payments to exchanges several times per week, and only once have I ever made any mistake (sent BTC to BCH address). For me, Bitpay is both "dumbing down" and killing the payment process, and they're taking away the easiest and most obvious option - pasting two fields into my wallet and clicking a pay button.
In my opinion, here are the root problems with Bitpay and BIP70:

Which brings me to the same old conclusion that we've all reached many times:
Cryptocurrency is designed for direct P2P payments with no intermediaries.
submitted by horsebadlydrawn to btc [link] [comments]

How to Profit with Bitcoin Payment Protocols (by Vin Armani)

How to Profit with Bitcoin Payment Protocols (by Vin Armani) submitted by Coinivore to btc [link] [comments]

MultiBit HD Beta 8 released. Bitcoin payment protocol (BIP 70). Trezor 1.3.3 firmware update.

MultiBit HD Beta 8 released. Bitcoin payment protocol (BIP 70). Trezor 1.3.3 firmware update. submitted by jim618 to Bitcoin [link] [comments]

Bitcoin payment protocol overhaul nears implementation (this is why open source projects rock!)

Bitcoin payment protocol overhaul nears implementation (this is why open source projects rock!) submitted by SFUBitcoinClub to Bitcoin [link] [comments]

Tried to use xmr.to to spend, but then I bumped into the 'Bitcoin Payment Protocol'

Tried to use xmr.to to spend, but then I bumped into the 'Bitcoin Payment Protocol' submitted by zxc44 to Monero [link] [comments]

Please support bitcoin payment protocol!

I can't pay for things anymore if they use bitpay. Well yes I can but it's a nightmare and it will force me to use another wallet and I don't want to. I love coinomi, please support payment protocol.
submitted by jaminunit to COINOMI [link] [comments]

Will Coinomi support Bitcoin Payment Protocol?

Will Coinomi support Bitcoin Payment Protocol? submitted by sz1a to COINOMI [link] [comments]

Will Trezor support "Bitcoin Payment Protocol"

So the joksters at Bitpay just switched to a new address format - and it is no longer possible to get the actual bitcoin address out of the payment widget.
See:
https://support.bitpay.com/hc/en-us/articles/115005559826
Will Trezor support this kind of payments?
submitted by ask_for_pgp to TREZOR [link] [comments]

Does the Ledger Wallet Bitcoin desktop application support the Bitcoin Payment Protocol as a receiving address?

So far, whenever I move money, I provide that long alpha-numeric string as the receiving address. But I just tried to buy the BitPay Card and was given something like the following to be the receiving address - bitcoin:?r=https://bitpay.com/i/8nXJxvuMCHwM2oLz41Bi7A
Note - I changed the actual URL for privacy but this format is the same.
BitPay's site listed some wallets that are known to support this protocol but Ledger wasn't mentioned. Does anyone know if I can use my Ledger Wallet Bitcoin app? If I can't, is this an upgrade coming soon? Or does Ledger provide a workaround to this when trying to pay someone that doesn't provide the old alpha-numeric address?
PS - here's the site that explains the new protocol: https://github.com/bitcoin/bips/blob/mastebip-0070.mediawiki
submitted by mkuraja to ledgerwallet [link] [comments]

Help: "Bitcoin Payment Protocol"?

I just tried to pay a BitPay bill with my Ledger. Well, what the hell is this: BitPay does not show any Bitcoin address.
It refers to a "Bitcoin Payment Protocol" - what is this? I hear this was introduced in 2013. But after using Bitcoin for more than four years, this is the first time I come across this.
Does Ledger Wallet plan to implement this feature? I want to use this with my Nano S. Thanks!
submitted by 5chdn to ledgerwallet [link] [comments]

Coinbase now supports the Bitcoin Payment Protocol

Coinbase now supports the Bitcoin Payment Protocol submitted by bitcoinbravo to Bitcoin [link] [comments]

Bitcoin Payment Protocol support?

Apparently this is an old thing, albeit rarely used, that BitPay is now requiring.
Instead of giving us a BTC address it gives us something like: bitcoin:?r=https://bitpay.com/i/XXXXXXXXXXXXXXX
I just had an invoice that I couldn't pay with the Trezor web wallet (they suggest using Electrum), but I was wondering if the Ledger Nano S wallet supports this type of address?
submitted by erik__ to ledgerwallet [link] [comments]

[1807.01793] A New Look at the Refund Mechanism in the Bitcoin Payment Protocol

submitted by ihaphleas to CryptoCurrency [link] [comments]

BitPay Partners BTC.com, Brings Bitcoin Payment Protocol to Million Users

BitPay Partners BTC.com, Brings Bitcoin Payment Protocol to Million Users submitted by cryptoliveclub to CryptoLiveClub [link] [comments]

Mike Hearn: FAQ on the bitcoin payment protocol

Mike Hearn: FAQ on the bitcoin payment protocol submitted by jgarzik to Bitcoin [link] [comments]

Exclusive: BitPay Partners BTC.com, Brings Bitcoin Payment Protocol to a Million Users

Exclusive: BitPay Partners BTC.com, Brings Bitcoin Payment Protocol to a Million Users submitted by ulros to fbitcoin [link] [comments]

Exclusive: BitPay Partners BTC.com, Brings Bitcoin Payment Protocol to a Million Users

Exclusive: BitPay Partners BTC.com, Brings Bitcoin Payment Protocol to a Million Users submitted by cryptoallbot to cryptoall [link] [comments]

Mike Hearn on PKI and Bitcoin Payment Protocol

Mike Hearn on PKI and Bitcoin Payment Protocol submitted by stickac to Bitcoin [link] [comments]

New Academic Research: Refund Attacks on Bitcoins Payment Protocol

New Academic Research: Refund Attacks on Bitcoins Payment Protocol submitted by stonecoldpat to Bitcoin [link] [comments]

[1807.01793] A New Look at the Refund Mechanism in the Bitcoin Payment Protocol

submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

[1807.01793] A New Look at the Refund Mechanism in the Bitcoin Payment Protocol

submitted by ihaphleas to Bitcoin [link] [comments]

The Bitcoin Fluid Dispenser 2.3 : NFC, Bluetooth Offline Transactions, and the Bitcoin Payment Protocol

The Bitcoin Fluid Dispenser 2.3 : NFC, Bluetooth Offline Transactions, and the Bitcoin Payment Protocol submitted by andyschroder to Bitcoin [link] [comments]

The Bitcoin Fluid Dispenser 2.3 How to tracking Bitcoin Transaction payment proof Bitpay Starts Implementing Bitcoin Payment Protocol Invoices Decreasing Wallet Support Crypto Frontier: The First USDH (HonestCoin) Transaction Using Simple Ledger Payment Protocol TumbleBit is an anonymous payments system for Bitcoin

Payment Protocol¶. To request payment using the payment protocol, you use an extended (but backwards-compatible) “bitcoin:” URI.For example: Warning: The payment protocol is considered to be deprecated and will be removed in a later version of Bitcoin Core. The protocol has multiple security design flaws and implementation flaws in some wallets. Simplified Payment Verification (SPV) – using Bitcoin without running a full network node. By default, upon receiving a new transaction a node must validate it: in particular, verify that none of the transaction's inputs have been previously spent. To carry out that check the node needs to access the blockchain. The specific process to pay using bitcoin is called the Bitcoin Payment Protocol and it is codified in a document called BIP70. A BIP is a Bitcoin Improvement Proposal and is one of the mechanisms used by the Bitcoin “core developers” to improve Bitcoin. There are all sorts of BIPS on lots of great topics but let’s not get diverted. Go to ... Protocol overview. In a normal Bitcoin payment, the process starts with the user either clicking a bitcoin URI or copy and pasting a textual address into their wallet app and manually specifying the amount. In a payment handled by the payment protocol, the process is initiated in one of two ways: The user clicks a Bitcoin URI that has a new “r” parameter, which contains a (http) URL that ... The Bitcoin protocol is specified by the behavior of the reference client, not by this page. In particular, while this page is quite complete in describing the network protocol, it does not attempt to list all of the rules for block or transaction validity. Type names used in this documentation are from the C99 standard.

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The Bitcoin Fluid Dispenser 2.3

In this video, Kevin Greene Introduces the bitcoin Payment Protocol, BIP70 and Explains How it Simplifies Bitcoin Payments for Merchants and Consumers. TumbleBit is a new anonymous payments protocol that is fully compatible with today’s Bitcoin protocol. TumbleBit allows parties to make payments through an untrusted Tumbler. No-one, not even ... How to tracking Bitcoin Transaction payment proof or how to check bitcoin transaction is trusted or lying. we can tracking bitcoin transaction using TX ID. Bitcoin Protocol Paper Playlist: http://www.youtube.com/watch?v=UieiMU-ImvI&list=PLQVvvaa0QuDcq2QME4pfeh0cE71mkb_qz&feature=share All Bitcoin Videos Playlist... SpaceX Crew Dragon Launch, Docking and Returns to Earth from ISS (International Space Station) Mar 8 - Duration: 1:11:47. Space News Pod Recommended for you

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