I have heard about Bitcoin since a while but never got involved.
I am the developer and owner of a (small) website where people can buy, sell and trade products (legit).
I have recently been thinking about enabling people to trade with Bitcoin Cash (or any other fast, reliable and low-fee coin) on my website.
I have a few issues and questions :
My users do not know anything about cryptocurrencies and buying some is too complicated :
- It requires to many external manipulations (go to an exchange, send documents, manipulate wallet addresses, etc).
- The prices are too volatile (so it must be possible to immediately settle transactions in fiat).
It involves Bitcoin.com being a place where fiat can be deposited :
1 - On my website, a user could see his associated Bitcoin.com Fiat account balance :
There would be a back-end process (API?) that would display the Fiat balance of the associated Bitcoin.com account (and ideally could also monitor the balance any cryptocurrency's public address).
2 - If the Fiat balance empty, the user can add fiat to his account via credit card :
There would be bitcoin.com web application/interface/front-end, integrated on a page of my website (or any other website, for that matter).
3 - If the user wants to pay another user, he could just click an a 'Pay' Button :
The fiat transaction would be handled via a Bitcoin.com web application/interface/front-end (and go from one Bitcoin.com account to another).
Currently, most users are using Paypal (with the 'to Family & Friends' option) to send money between each other :
It is fast and free, so the Bitcoin.com payment experience would have to be easier and as cheap as Paypal for them to switch. For the payment experience to be superior to Paypal, I believe it should be (visually) integrated to the website (as described above).
This being suggested, if I want my users to have a fiat account, to send fiat and to receive fiat :
Why would I need Bitcoin.com ?
The reasons are the following :
- Despite the fact that fiat is not the finality, fiat is the current reality.
- Once you handle fiat, you are only one button away to offering users other alternatives.
What I am basically looking for (and what people I believe would use) is a transaction solution that can be integrated on the website (or on any website that wants to provide P2P transactions). As indicated, my users are currently using Paypal for free, but with an integrated transaction/payment solution : I believe they could/would switch to it (because it is easier to use), but like Paypal, it must also be fast and free.
What do you think ?
Maybe I am wrong, that volatility is a short term issue and that fiat shouldn't be dealt with at all.
Best regards,
----
PS : I don't want to get into politics, but I believe that negative merchant adoption has been a cataclysmic event :
Huge momentum has been destroyed. Watching this happen feels like a daymare, but maybe I am missing something.
I have just changed the title term 'P2P' to 'user-to-user' : I think that P2P technically means node-to-node transactions and where the nodes are the users (User/Node <-> User/Node). But currently, it seems to me that the system rather looks like this : User <-> (Node) <-> User (I am not saying it is good or bad).