HTTP 402: Payment Required

Re:HTTP 402: Payment Required by sneak on Saturday February 01, 2020 @11:39PM (#22215175)

The problem isn't the tech; one could build a centralized micropayment system long before lightning was viable.

The issue is that receiving and sending bitcoin payments makes you regulated like a wire transfer service, and the resulting license costs to operate such a business are approximately 1MM USD per US state in which you wish to operate (before you can send a single payment).

It's madness. All of the cool micropayment businesses I want to start are illegal now.

[ Parent | on HN ]

Re:HTTP 402: Payment Required by icebraining on Sunday February 02, 2020 @05:32AM (#22216270)

But do you need to receive and send them at all? Couldn't you just act as a coordinator, sending the site's BTC address to the client so that they can pay them directly?

[ Parent | on HN ]

Re:HTTP 402: Payment Required by k_vi on Sunday February 02, 2020 @01:10AM (#22215455)

I don't understand. If I accept bitcoin payments, does this make me a wire transfer service?

If it makes the payment service provider a wire transfer service then Bitcoin and BTCPayServer already solves this.

[ Parent | on HN ]

Re:HTTP 402: Payment Required by true_religion on Sunday February 02, 2020 @07:00AM (#22216558)

I think it’s accepting bitcoins on behalf of another party that makes you a wire transfer service.

[ Parent | on HN ]