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RE: is about to start payment processing, allowing to buy GRC with PayPal and Credit Cards

in #gridcoin5 years ago

Absolutely terrific, @crt! Thank you!

I am in the exact position you are describing: Want to buy GRC for fiat and have to use indirect and fee-intensive ways over Bitcoin as I found no better alternative.

Just registered an account on your page and am looking forward for more info. I think what might be good to provide is some words about security, trust(less)ness and who will be selling the GRCs to me when this page is just for buying (which is ok).
Keep up the good work, I am really looking forward to it and concur to the other comments that this might boost Gridcoin way more than many other (also valuable) initiatives.

I am wondering why this post doesn't get more echo actually. Are you in contact with the devs? What do they think of your project?


Thanks @xlm567 We are all in contact with each other on Slack, but the situation is a bit chaotic as always is. Basically everyone push their best. There's no need for larger echo at the moment as this is the very early stage, we could easily get disabled by the payment processor / bank. This is the primary concern, while forking is another one.

In the beginning, the amounts allowed to buy are going to be small. I will be selling my own GRC as the starting buffer, then buy more on exchanger. The price is to be calculated based on amount of GRC out -> Amount of GRC in. In the second stage, i'll try to automate this process.

These are some issues we need to address before we can spread this wide. I am also on few other projects that are already a bit late, so don't expect miracles here at least in the first month.

Hopefully, if this get's to a level of self sustainability we would find someone dedicated to this project only to take-over, so I can move forward with other projects.

As for security, threat everything as no security until I remove "early alpha" tag. While I put reasonable efforts to protect everything, I am not going to remove "early alpha absolute no warranty" unless it get's some stability and time proves it will be a good model.

The another reason for lack of echo, which is a good one, is that if we put much efforts into marketing this, and then got blocked by payment processor, it would be negative marketing. We don't need that at the moment.

Thanks for your extensive reply. I've come across this Slack channel many times now as the most direct source of information but an invite is needed so I'm stuck with Steemit, Reddit and CCT.
Edit: Found an invite on CCT by Quez and will join soon :-)

I understand and agree with your concerns regarding paypal and banks, found out first hand that many are blocking transfers to crypto coins, seeing their business model endangered obviously. In Germany, teamed up with a bank which I think profits a lot from this first mover role.

If you need pilot users for testing transfers or any other form of support, I am happy to help, just drop me a line!

Thanks, I will do that for sure. Let's see what is going to happen on Monday, and what would be the situation with forking. If everything goes well, I am always in need for someone to help. Basically everyone is busy and additional pair of hands is always helpful :)

It's really appreciated.

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