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bitcoin as payment option?

9 years 3 months ago #268154 by DavidStrayhorn
bitcoin as payment option? was created by DavidStrayhorn
Are there any plans to integrate bitcoin (or other cryptocurrencies) as a payment option for subscriptions? My target audience is worldwide (medical education) and not everyone will have access to paypal or other traditional payment methods.

Joomla 3.4.3
CB 2.0.10
CSubs 4.0.0

(If it hasn't yet been considered, here is how I would approach it: set up a deterministic wallet such as a Type 2 hierarchical deterministic wallet that allows the use of a Master Public Key, which means that the site owner enters a single 128 bit seed from the back end and from that, an unlimited number of recipient payment addresses can be generated, e.g. one for each user for each plan. The Master Public Key cannot be used to access funds, so even if the site gets hacked, the funds cannot get stolen. The site owner can access funds using the private key that only the site owner knows and which never needs to be entered online, using something like TREZOR, Electrum or CarbonWallet that implements this type of wallet. A site like blockchain.com can be accessed via their API to monitor whether payment has been received for any given address, when received, how many confirmations, etc. Part of the back end setup would be to choose how many confirmations are needed for the plan to be considered active. Setting it to zero confirmations should be default: it would enable very fast payments and would be sufficiently low risk for most sites, I think.)

en.bitcoin.it/wiki/Deterministic_wallet

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9 years 3 months ago #268567 by DavidStrayhorn
Replied by DavidStrayhorn on topic bitcoin as payment option?
Or you could just add a payment processor like BitPay as another payment option alongside Paypal, etc.

I would REALLY REALLY like to see this payment option open up.

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9 years 3 months ago #268573 by nant
Replied by nant on topic bitcoin as payment option?

DavidStrayhorn wrote: Or you could just add a payment processor like BitPay as another payment option alongside Paypal, etc.

I would REALLY REALLY like to see this payment option open up.


Hi and sorry for late reply.

We are currently not developing any new payment gateways for CBSubs but if interested I can refer you to a developer than can do this for you if you rae willing to sponsor it.

Please send me a private message if you are interested and I will reply with specifics and contact info.

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9 years 3 months ago #268577 by DavidStrayhorn
Replied by DavidStrayhorn on topic bitcoin as payment option?
Thanks. I'm not to the point of needing that yet on my site (I won't charge for subscriptions until I build up more content which I am adding slowly) but I will keep this option in mind.

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