8
The last stats Bitpay published were in December, 2014, so it may be somewhat out of date. They said that 10% of the merchants keep settle entirely in Bitcoin, 41% of the merchants keep a part of their settlement in Bitcoin, and the remainder settle entirely in fiat.
That said, there are plenty of instances where BitPay merchants get settled in Bitcoin, and ...
7
For every Bitcoin they sell, someone else had to obtain that Bitcoin. So they increase the demand for Bitcoins by at least as much as they increase the supply.
In addition, they increase the utility of Bitcoins, which increases their value. All other things being equal, a currency you can spend at more merchants is more desirable than one you can spend at ...
7
May be useful psp(python) example:
<%psp
import urllib2;
import simplejson as json;
j = json.loads(urllib2.urlopen("https://data.mtgox.com/api/2/BTCUSD/money/ticker").read());
%>
<%=str(j["data"]["last"]["value"]) %>
Or one command line:
# /usr/bin/python -c 'import urllib2; import simplejson as json; j = json.loads(urllib2....
7
BitPay takes all the risks of a double-spend and they don't wait for any confirmation to make the user feel good with the purchase. The merchant doesn't care because they'll receive fiat and most of them are not direct access purchases.
7
Only Copay is affected by this vulnerability.
Although the package was included by many, many projects (both within and outside the crypto space), the attack payload was encrypted, and used the package description as a decryption key. They key in question was found to be (via brute force) A Secure Bitcoin Wallet, which is the npm description for the copay-...
6
The number of Bitcoin network confirmations required for a particular transaction to be considered complete is determined by the BitPay account holder on a transaction-by-transaction basis.
Entities set the Risk/Speed of a transaction to "Low" (6 confirmations), "Medium" (3 confirmations), or "high" (1 confirmation) via the API when an invoice is created. ...
6
I am not aware of BitPay providing that service.
The most well known company that specializes in what you describe is BitWage:
https://www.bitwage.com/
Maybe that is what your friend meant since they have similar names,
5
Their website does have the methodology by which the exchange rates are calculated.
5
Since you say "sort of a BitPay system", I assume you don't want to use BitPay.
You can start with dissecting some of the work people have done in the space on repositories such as bitwasp or bitcoin-php. This is probably more than you need, however the building blocks are there for what you want to do if you wanted all of the logic to live in php.
If you ...
4
According to their support site it should be on it's way without you doing a thing. I quote:
If you choose to take settlement in bitcoin, BitPay will forward bitcoin payments to your bitcoin address on file. The minimum settlement is 0.01 BTC.
Maybe look on blockchain if there is an unconfirmed transaction to your address or reset Multibit if you are ...
4
I contacted BitPay support about the issue and they said that it'll just work.
So we made our payment via 3 different transactions. As soon as all transactions were made, the BitPay window informed us:"This invoice has been paid." At that moment either one of the transactions had a single confirmation or none had any. Then came the confirmations.
Addendum -...
4
What can I do?
You could find tools that automate the trying of various combinations of seed-words. Some are mentioned in similar questions here. For example btctools, btcrecover. Use them or adapt them to your needs.
Lost my Bitcoin wallet and have only 11 out of 12 mnemonic seed phrase words. How can I get my Bitcoins?
Need help to recover blpckchain....
3
Since Mt. Gox is down and the market is split, I would suggest using blockchain.info's API. I believe they combine different current market prices to make one average price. This is much more reliable than trusting one market only (see what happened to Mt. Gox). Also blockchain.info is a generally well trusted site.
To load the information in PHP use the ...
3
bitcoincharts.com is one of the more popular ones:
http://bitcoincharts.com/
3
Here is an example that retrieves the current current values from the json stream at mtgox (current, low, average, last, and now). It is written in python, but should be very easy to port it over to the language of your choice.
#https://github.com/spudstud/alfred-bitcoin-workflow
#json is the standard python json parser
#urllib2 is a webpage ...
3
You can see the number of transactions for a Bitcoin address. That's easy. Either through a desktop wallet(Like Bitcoin QT) or using services like blockchain.info. Just search for an address there.
You can't do this for your site thought because you're using Bitpay and they provide a unique address for each payment to your site.
Even if you weren't using ...
3
Does Bitcoin have a function that would allow the BTC you sent to be returned, No.
The only way to get the BTC back is if the recipient makes a new transaction sending the Bitcoin to your receiving address. If the recipient will not do this, you may think about contacting a lawyer.
2
Assuming you have Bitcoin-Qt in use:
open the debug window and go to its 'console' view
issue the command listaccounts and from the output select an account name
use that name to issue a listtransactions your_account_name command
in the output count the occurances of "category" : "receive"
These same commands are available through the RPC interface of ...
2
Yes this is expected behavior, it will be handled by applications that register the bitcoin URI, particularly this is prevalent in mobile clients. Here is a couple links with more information on this topic:
https://bitcointalk.org/index.php?topic=187597.0
http://electrum.org/bitcoin_URIs.html
2
I would encourage you to look at the customer reviews of each service. BitPay is definitely a stronger and more reliable platform, and is fully "on-blockchain" and compatible with all of the bitcoin wallets. For a low-volume use case, like a few orders per day, probably either service will work. For higher volumes, BitPay is more business-grade, with ...
2
Alex,
You're logic is correct. While the payment processors are facilitating an enviornment for increased demand, they are also putting downward pressure on a fairly thin market when they have to be a continual seller to convert the Bitcoins to dollars. I think the hope overtime is that the market becomes much thicker and various derivatives pop up to ...
2
An older, maybe somewhat wiser me, answering my own question:
Here's some PHP to get the exchange rate.
<?php
$page = file_get_contents('https://bitpay.com/api/rates');
$my_array = json_decode($page, true);
$exchange_rate = $my_array[0]["rate"];
?>
I eventually found it easiest to do in javascript, since you're going to want to display the ...
2
The appearance of a double-spend on the network throws the status of the earlier payment into doubt. The doubt is only resolved when one of the payments is confirmed. As always, the more confirmations, the more certainty that the payment will be permanent.
The recipient of the payment that was double-spent is NOT notified very quickly. The bitcoin ...
2
Electrum (https://electrum.org) is a good choice if you wish to store your bitcoin locally on your PC. Supports things like hardware wallets, multiple wallets, seed (longish string of words) to recover your wallet if it's lost, and you can later on export your keys and import them into another wallet if you prefer.
2
It's a new address format for Bitcoin Cash proposed by BitPay, to prevent BTC/BCC address confusion. It's not widely used, currently.
The old addresses that start with 1 (P2PKH) are converted to addresses that start with C
The old addresses that start with 3 (P2SH) are converted to addresses that start with H
You can use this "address translator" to ...
2
The previous answer, while correct, is outdated. While BitPay did use a proprietary format early on, we quickly adopted the CashAddr format for Bitcoin Cash/BCH transactions.
Example: bitcoincash:pqkh9ahfj069qv8l6eysyufazpe4fdjq3u4hna323j
You can use our address translator to get the correct format for any address (https://bitpay.github.io/address-...
2
That is feature of Bitcoin node network.
When your client sends your transaction to network, every node is also sending your transaction to every other connected nodes. In about 5 seconds it is broadcasted in every place in world.
2
Bitcoin accounts are not linked to names, per se. There is not really a way where you can sign up for a bitcoin account under so-and-so's name, unless you go through an exchange such as coinbase.
There are basically two scenarios here:
If you are receiving messages/emails telling you to claim BTC, you are likely being scammed. Scammers send such messages ...
2
Bitpay uses the BIP 70 Payment Protocol. This protocol does not use addresses, which is why they are able to now show an address. Rather, the Bitcoin URI that you are given (either you scanned it with a QR code reader or you entered it into your wallet) points to a place where your wallet can download a PaymentRequest. The Bitcoin URI format for pointing to ...
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