It’s nice to see all this feedback. Clearly, other ZEC holders feel the same.
I came across this today, NOWPayments. It’s a service that allows merchants to accepts 160 cryptocurrencies including ZEC and Dash.
Also, it appears this is what DashDirect uses that allows users to spend Dash at over 155,000 locations in the U.S. I noticed CakeWallet uses them as well which allows users to spend Monero. I wonder if we can make a Zcash wallet with this in it or add it to an existing wallet.
If I can find these services in only a few hours. What does ECC do all day?
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I don’t think that the pitch to a merchant should be “you get to HODL this coin that is going to the moon”. I much rather prefer “you get to use a brand new set of payment rails”.
I see Zcash working very much like physical cash. With bills and coins, a merchant has to periodically empty the till and go deposit it in the bank because you can’t pay for many operational costs in cash.
I believe that off-ramping ZEC as needed will be part of doing business if you accept it for payments and also believe that as an ecosystem, we can help. ZGo already tracks the price of ZEC at the time of each transaction and merchants can download that data for any accounting or tax purposes.
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I don’t necessarily think that price speculation should be the main pitch for adding merchants either (long term merchant participation shouldn’t be contingent on long term ZEC coin value), so if we’re suggesting the latter point… what are the improvements that Zcash provides over the existing payment rails? Because I’m kind of scratching my head to come up with a good-faith list of what they are (these features should extend above and beyond the crypto industry leaders in payments, such as Bitcoin LN, Litecoin, Dogecoin, Ethereum, Stellar, Ripple, or Monero)
- Private
- Low fees
- Fast
- Permissionless
I think the value prop is much simpler: Avoid having your funds held hostage by your financial corporation.
With that, I think these solutions should be targeted at industries that have historically been on the restrictive business lists.
All good products/businesses start at fulfilling a niche.
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Do you see that there are some basic contradictions here? For merchants to “Avoid funds under hostage” I assume you are implying that they are only receiving and storing shielded Zcash. With that context, how is the merchant able to turn the shielded ZEC into fiat? At the moment I don’t believe there are any non-KYC off-ramps from shielded ZEC into local paper currency.
Now we’re back to square one. Perhaps the merchant will accept both shielded and transparent coins, in that situation they really can’t presume the commerical privacy that shielded ZEC grant because they have also publicly revealed their business via the transparent coins and address(es).
To my earlier point, we are left making some great logical leaps. We’ve got to be finding Zcash true believers who want to accept shielded ZEC in transactions and are willing to custody them for a long time (because theyre 1. not readily converted into paper, 2. doing so would negate the privacy feature due to lack of non-KYC offramps)
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Now you’re just being pedantic.
“Holding funds hostage” was maybe the wrong choice of words but the idea is that whatever platform is created/promoted should be targeted towards industries that have been blacklisted by these orgs (and subsequently held their money hostage if they’ve made any on the platform before being “caught”).
And of course people need to be true believers to use this in the first place. Not only Zcash in particular, but crypto in general.
I use nighthawk daily with no issues (iOS). Once you are synced up the first time it works great.
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