There was a post a little while back that Dan did explaining why Imzy chose the financial company they did. It's got a bunch of details about what was considered & what's legal.
Would it be? I'm no designer, but I kinda thought it'd be something like just a new button that uses your saved Bitcoin wallet info, or let you enter the info on the spot, the the Bitcoin wallet info saved to the account of the person you're typing. What would be the legal/financial issues there?
Braintree by Paypal will be able to accept bitcoin and other cryptocurrencies, and I remember a while back that Imzy staff talked about wanting to change to Braintree once it added a couple certain features.
Because we are a business. We have to stay within the laws around money transferring. You can do whatever you like on your own. We can not supply the transaction, legally, at this time. This is a fact. I'm not just being difficult.
No what I think the issue is here, is that if they personally handled the transaction. If Stripe did it, they'd be the ones handling the transaction. So it's not Bitcoin itself being illegal or restricted, we're allowed to use what ever we want as s currency, but Imzy having to handle the transaction of the(any) currency.
My guess as to why would be maybe there's a license for that sort of thing. Which is probably where done of that cost she mentioned might be coming from, as well as the lawyers for handling the books.
There was a post a little while back that Dan did explaining why Imzy chose the financial company they did. It's got a bunch of details about what was considered & what's legal.
Thanks! That helps clarify that!
Welcome!
Unfortunately, the tips are controlled by Stripe and not Imzy. So it's up to Stripe whether they offer a particular currency. :(
Well that sucks! Could they not put in a second option on there own?
Legally, it's very complex and extremely costly to add more options at this point. Not sure about the future but definitely not soon.
Would it be? I'm no designer, but I kinda thought it'd be something like just a new button that uses your saved Bitcoin wallet info, or let you enter the info on the spot, the the Bitcoin wallet info saved to the account of the person you're typing. What would be the legal/financial issues there?
P.S., Not trying to argue, just curious!
Not even that. It's just 15 characters of code.
No, design wise, it's easy. Legally, there are a ton of restrictions around the way we are allowing money to be transferred on the site.
Totally not the issue. Like, at all. This is very much a legal issue. Financial regulations are complex.
It'd still go through stripe.
Huh. Is there a reason Bitcoin is treated any different to other currencies?
This is not a possibility right now and we were not flippant about our decisions.
What about doubloons? It's ridiculous. No one accepts doubloons these days.
I will accept your doubloons, also your pieces silver, your pieces of eight, your filthy lucre and occasionally a goat or chicken.
Unfortunately I only have slightly gross lucre, but I can adjust any hygienic factors as needed.
I take it you found a lucre laundering service. I think the stuff is filthy by nature.
Sometimes, after hours, I assemble all the lucre into a giant pile and just roll around in it, luxuriating, like a grotesque possessed foxhound.
Braintree by Paypal will be able to accept bitcoin and other cryptocurrencies, and I remember a while back that Imzy staff talked about wanting to change to Braintree once it added a couple certain features.
Yeah, Smallbrownfrog linked me to the post about braintree being what they want! Didn't know they accepted Bitcoin though!
Braintree takes credit cards, PayPal, Venmo, Apple Pay, Android Pay, and Bitcoin!
Wow! Can't wait for the switch. Have there been any updates on the greater Imzy if waiting on?
I think they're just waiting for Braintree to be as easy to use as Stripe is.
Stripe also does bitcoin.
You can tip in bitcoin IIRC. Stripe doesn't support being paid in bitcoin tho.
You can't use bitcoin through our site, though. It would have to take place on a different platform.
Meh, really? No way around it? (Say, developer tools?)
Not legally in any way that would not be incredibly expensive, complex, and time-consuming. So, possibly in the future but not right now.
How's it illegal to change your website's code on the client?
It's financial. Not about design.
How can you regulate what I do in my own browser?
If we are supplying the transaction, it has very much to do with us. Your browser is your business.
Yes, and I can enable bitcoin locally. And you can't do anything about it. So, how is it any different?
Because we are a business. We have to stay within the laws around money transferring. You can do whatever you like on your own. We can not supply the transaction, legally, at this time. This is a fact. I'm not just being difficult.
If Stripe adds a new non-bitcoin currency, does that mean Imzy becomes illegal?
No what I think the issue is here, is that if they personally handled the transaction. If Stripe did it, they'd be the ones handling the transaction. So it's not Bitcoin itself being illegal or restricted, we're allowed to use what ever we want as s currency, but Imzy having to handle the transaction of the(any) currency.
My guess as to why would be maybe there's a license for that sort of thing. Which is probably where done of that cost she mentioned might be coming from, as well as the lawyers for handling the books.
They make it sound like there are no legal issues involved: https://stripe.com/bitcoin
If you want bitcoin, go talk to Stripe. They're handling the legal side of transaction things, not Imzy.
I wonder why it's not automatically accepted if they let you add it in the code?