This sounds good, in broad strokes. There are a couple of things I would watch out for:
Refunds can be tricky. People who are using web wallets may not really have their own addresses; the wallet operator has a large pool of addresses and tracks customer balances internally. When the customer wants to make a payment, the operator pays from one of the ...
That sounds reasonable. I would add that since you'll most likely want to accept unconfirmed transactions, it would be also good practice to check with a list of trusted nodes (such as large mining pools) if they received the transaction. This doesn't entirely remove the risk of a double-spend, but it mitigates it.
As of right now, there is not a standard way to return other than to ask the returnee for an address to which the returner can send. You could ask for them to verify the address by signing some text with its private key, however, users of web wallets are at a disadvantage because not all wallets provide this functionality.
It is too onerous to ask for a ...
Bitcoin is the incumbent in the space with a strong lead. It is not feasible to create faster blocks than about 60 seconds (as short block intervals create a host of other problems). 60 seconds however, is still way too long to wait at a cash register for a payment to confirm, and would be incompatible with current checkout processes.
Only for the USA at the moment according to reddit
If you go to the checkout page on Overstock you'll see an option to
pay with Bitcoin!
-edit- For now it's only available on the U.S. checkout but I hear from reliable sources that they will roll it out to international
after a bake in period.
Even in conventional systems, a return is a separate transaction from the original purchase. Both are recorded, the original purchase transaction need not be amended so long as the system associates both transactions together. In short, returns are not the same as a transaction cancellation
I've searched quite a lot for something like this and to my knowledge, the answer is no.
the bitcoinway plugin you reference was the closest thing to a working plugin that required no middleman. It used to work with the older woocommerce and the 1.9.8 mpk but it doesn't work at all now with the latest woocommerce version. It has not been updated in a long ...