OpenNode – Bitcoin Payment Processor
opennode.com
opennode.com
For whoever posted, your cost calculator should be first thing on the page, and you "How we calculated this number" link is broken
Really? Did we IT people decide giving up privacy for security is a good idea?
https://www.chainalysis.com/blockchain-intelligence/
They also do work to deanonymize other blockchains, including monero.
which they still haven't actually broken despite empty marketing claims which in reality is busting people on KYC CEXs.
Whether or not they've done it by breaking the protocol itself might be of academic concern but is irrelevant in practical terms.
It very much is not. If I use cash to commit a crime but then deposit it into a KYC bank account which is then used as a side channel to get me caught does not mean its the cashes fault.
XMR privacy and anonymity can not protect you from going out of your way to convert it into inferior surveillance currency which then gets you busted.
That's basic logic and should be a obvious technical limitation.
By "practical terms" I mean that a criminal sitting in prison isn't going to care whether the vulnerability that got them there was layer 7 or not. It doesn't fucking matter to them at that point.
Everything on the internet is vulnerable to netflow traffic deanonymization; it is a fundamental limitation with the design of the internet. The only thing that stops these attacks from being more common is the relative difficulty of obtaining the required data.
that is not how they get busted, monero literally has protections against that like ring signature and dandelion. They get busted by leaving xmr monero ecosystem to cash out to surveillance currencies like btc or tether on a KYC CEX.
Again, the anonymity of cash (which isn't that anonymous actually but thats another topic) is useless if you deposit them into a KYC ATM.
They make it incredibly hard to make sense of gathered intel
This has the default inverted.
The best place for the traditional payments system is when you're making a large purchase from a questionable seller, and then you're willing to pay extra for the assurance that you can reverse the transaction.
If you're making a small purchase or buying from someone you regularly do business with, why would you want the cost of other customers' chargeback fraud or use of stolen cards to be added to the price you pay?
> OPEN describes a feature of the services provided by applicant, in that applicant provides a "public node" that is accessible to anyone and allows users to interact with the blockchain network. See attached from opennode.com. Thus, "OPEN" is descriptive of the applicant's services, in that it conveys the open and public nature of the node that the applicant provides.
https://tsdr.uspto.gov/documentviewer?caseId=sn97399846&docI...
Seriously, though. Without legal teeth and against marketing, "Open" never much stood a chance.
"open" is simply a vague word that you are assigning more meaning to than it actually means.
The buying power is all over the place.
1) Settlement time (wires only sporadically free in US, plus usually settle slower)
2) Irreversibility.
3) The tradfi ramps, if used, only have to be OK with crypto ramp, rather than the whole host of underlying transactions. It is conceivable some banks will tolerate crypto while not tolerating, say, directly handling a particular transaction.
4) Lowered friction for international transaction
5) One or both sides can be unbanked.
<transactionFeeDiscussion>
Citation needed. I'm looking at the transaction fees for lightning network and they are in the range of FedNow or RTP.
For Bitcoin it's not even close.
</transactionFeeDiscussion>
Lack of chargeback risk seems nice for businesses.
Chargebacks exist in the real world because long, long ago people recognized that electronic payment systems are fertile soil for scammers. The "lack of chargeback risk" that cryptobros keep chirping about is nowhere near the flex they think it is.
Again, this is by design. Such safeguards exist for a good reason. They are tools that are as necessary as a policeman's gun. Yes, they are tools that can be (and have been) abused and for which there should also be guardrails and oversight in place. But saying that crypto is better than "government based currency" because crypto has no such safeguards in place is the same thing as saying Wal Mart security officers are better than police officers because they don't carry guns. It is a naive thought at best.
The Epstein class and the Bankman-Fried class are the same people (and don't get fooled by their patronyms, it has nothing to do with Jews, and all to do with the American elite). And Trump is both an friend of Epstein and a proponent of cryptocurrencies.
Pick your poison, do you trust corrupt institutions or yourself more.
You lose your wallet, you make a few phone calls or walk into a bank and get a new card. You lose very little more than some time. Losing your crypto key means you lose your crypto.
Those are not at all the same thing.
The same institutions that caused the 2008 crash, the same institutions that in the last 5 years have printed 50% more of the total US dollar supply, the institutions that keep the poorest and lowest classes perpetually poor and stuck by constantly inflating their savings away?
Yes, I think I will trust Bitcoin and my hardware wallet more.
You rightly call that a “crash” that is nowhere near the scale of the regular bitcoin price fluctuations!
> that in the last 5 years have printed 50% more of the total US dollar supply,
Better trust an ecosystem that has created an endless amount of virtual money over the past 15 years instead then…
> the institutions that keep the poorest and lowest classes perpetually poor
Did you miss the fact that you now need an entire data center worth of specialized hardware to mine bitcoin? It was supposed to be a democratic hacker currency that anyone can mine, yet it is entirely controlled by a handful of hyperscalers… Pretty much no individual can even hold a full bitcoin now, talk about keeping people poor.
> I think I will trust Bitcoin and my hardware wallet more.
Delusional.
(Chargeback exists for a reason, and the reason isn't to piss off businesses).
People afraid to buy because they are likely to be ripped off.
Sure lots of people stop buying there. But they seem to still be doing business every second of the day I assume.
A former tech giant that has seen its dominance being swallowed by competitors and now cornered into numismatist and other collectible.
Sure it's a very profitable company for its inveators, but a friend of mine used to work there until recently and he used to describe it as a dead shell that merely lives out of rent-seeking on its legacy.
Good luck attracting investors if you have the same business plan today.
MasterCard was around in the 1950's, in 2026 they do not still use the same method of exchanging money as they did back then and have had to make big changes to their systems as time has gone on, Bitcoin does the same thing except it's not controlled by a banking cartel but by all it's userbase.
Bitcoin is absolutely not controlled by its user base, but by another cartel (made of mining pools and exchanges). You, as a user have literally no say in any decisions taken by bitcoin except voting with your feet, which is exactly what you're suggesting against Visa & MasterCard's (which aren't banks by the way…)
If a large enough percentage of the node runners need refuses to propogate a block from a bad actor, then another miner can mine the same block and get the reward.
In an ideal world the best non-miners can do is prevent some transactions by preventing them to reach the mempool, but you're not going to block an exchange this way either.
The bitcoin protocol is actually very friendly to centralization, the only mechanism that was supposed to prevent it was the PoW, which failed because ASICs exist. And as a result, in practice it's been very centralized for more than a decade now.
- High risk customers that the shop can accept if there's no chargeback option. For these users that are excluded from many ecommerce shops that's a good option and they are willing to jump through some hoops
- Customers from countries that are restricted from using VISA / Mastercard
- People from countries with active sanctions against.
Wouldn't that be breaking the law selling to them?
Yes, it's scam city too, but it will be interesting to see if "permissionless money" actually happens and how.
And for the record, most people here pointing out that bitcoin itself, as perhaps this "opennode" may be useless here, are correct. Bitcoin mostly can no longer do what it says on the box, but newer forms can.
Their rates are not a big inconvenience, IMO
I prefer the trend of using stable coins for payment instead. I think merchants are much more willing to work with a digital dollars than with something with constantly fluctuating value.
You can't censor Bitcoin.
Your payment processor could be legally restricted from paying you your bitcoin.
The merchant should send the funds (sweep the UTXO) back to you if the funds are flagged. So you should not be out of pocket.
You request $100, the customer pays 0.00152 BTC, and then you get $99.
But 0.00152 BTC is almost $100? If I’m a business why would I pay $100 in BTC fees for a $100 transaction?
What is this solving? I’ll never understand crypto.
Edit: nvm I’m dumdum. Will get coffee. Thanks to everyone who replied.
The merchant requests 100 USD. The user pays X BTC equivalent to 100 USD. The merchant receives 99 USD aka the fee is 1 USD
The fee is $1. They charge a 1% fee for instant payouts.
Did you mean Bitcoin Cash?
The merchant can also pick to use Lightning and keep the Bitcoin instead of selling it for fiat.
I thought it was a vanity coin now
Have used it for accepting LN transactions for years.
and C#, I would rather have something in Go/Rust.
it always stike me how whacky ETH dev community is (based on their slack). like you have ETH core written in Go, just make a nice open source ETH gateway with nice UI. nope. neither core team nor community don't care.
and BTC has some Windows XP era C# monstrosity
Naturally, I would prefer a non-windows language, but it is literally a black box that works.
Bitcoin is surveillance capitalism dream!
Monero is the best crypto we have for currencies, though. And currency is the only value I see in crypto.
Indeed, but fortunately, BTC was forked at the right time