OpenNode – Bitcoin Payment Processor(opennode.com) |
OpenNode – Bitcoin Payment Processor(opennode.com) |
For whoever posted, your cost calculator should be first thing on the page, and you "How we calculated this number" link is broken
The buying power is all over the place.
You request $100, the customer pays 0.00152 BTC, and then you get $99.
But 0.00152 BTC is almost $100? If I’m a business why would I pay $100 in BTC fees for a $100 transaction?
What is this solving? I’ll never understand crypto.
Edit: nvm I’m dumdum. Will get coffee. Thanks to everyone who replied.
The fee is $1. They charge a 1% fee for instant payouts.
The merchant requests 100 USD. The user pays X BTC equivalent to 100 USD. The merchant receives 99 USD aka the fee is 1 USD
"open" is simply a vague word that you are assigning more meaning to than it actually means.
Seriously, though. Without legal teeth and against marketing, "Open" never much stood a chance.
Yes, it's scam city too, but it will be interesting to see if "permissionless money" actually happens and how.
And for the record, most people here pointing out that bitcoin itself, as perhaps this "opennode" may be useless here, are correct. Bitcoin mostly can no longer do what it says on the box, but newer forms can.
I prefer the trend of using stable coins for payment instead. I think merchants are much more willing to work with a digital dollars than with something with constantly fluctuating value.
You can't censor Bitcoin.
Your payment processor could be legally restricted from paying you your bitcoin.
The merchant can also pick to use Lightning and keep the Bitcoin instead of selling it for fiat.
Bitcoin is surveillance capitalism dream!
Monero is the best crypto we have for currencies, though. And currency is the only value I see in crypto.
> OPEN describes a feature of the services provided by applicant, in that applicant provides a "public node" that is accessible to anyone and allows users to interact with the blockchain network. See attached from opennode.com. Thus, "OPEN" is descriptive of the applicant's services, in that it conveys the open and public nature of the node that the applicant provides.
https://tsdr.uspto.gov/documentviewer?caseId=sn97399846&docI...
1) Settlement time (wires only sporadically free in US, plus usually settle slower)
2) Irreversibility.
3) The tradfi ramps, if used, only have to be OK with crypto ramp, rather than the whole host of underlying transactions. It is conceivable some banks will tolerate crypto while not tolerating, say, directly handling a particular transaction.
4) Lowered friction for international transaction
5) One or both sides can be unbanked.
<transactionFeeDiscussion>
Citation needed. I'm looking at the transaction fees for lightning network and they are in the range of FedNow or RTP.
For Bitcoin it's not even close.
</transactionFeeDiscussion>
Really? Did we IT people decide giving up privacy for security is a good idea?
https://www.chainalysis.com/blockchain-intelligence/
They also do work to deanonymize other blockchains, including monero.
MasterCard was around in the 1950's, in 2026 they do not still use the same method of exchanging money as they did back then and have had to make big changes to their systems as time has gone on, Bitcoin does the same thing except it's not controlled by a banking cartel but by all it's userbase.
Lack of chargeback risk seems nice for businesses.
(Chargeback exists for a reason, and the reason isn't to piss off businesses).
Chargebacks exist in the real world because long, long ago people recognized that electronic payment systems are fertile soil for scammers. The "lack of chargeback risk" that cryptobros keep chirping about is nowhere near the flex they think it is.