We’re excited to announce a freshly-baked feature from our coding kitchen – BTCPay Vault. Prepared by our Chef de Cuisine, Nicolas Dorier, the vault is a delicious desktop application which allows communication between your hardware wallet and BTCPay using its full Bitcoin node providing a richer user experience without sacrificing privacy and security. Why? When …
So I read through the website and don't quite understand what problem this is solving.
For example, a merchant wants to start accepting Bitcoin. What does this do for the merchant that can't be accomplished by posting a QR code at the checkout counter or on the website? What additional features am I missing or not understanding? Invoices?
What a great open source project, amazing to see it progress so much and so fast. And to think it all started out as a simple 'fuck you' to Bitpay which hasn't done jack shit to improve their tech in the last few years.
From their [website](https://docs.btcpayserver.org)
> “In layman's terms, BTCPay Server is a self-hosted and automated invoicing system. When checking out, the customer is presented with an invoice. Each time, a different address is tied to a particular invoice, so there is no address re-use. BTCPay follows the status of the invoice through the blockchain and informs a merchant when he can fulfill the order safely.”
> “BTCPay is code, not a company. There is no third-party between a merchant and a customer. Merchant is always in full control of the funds. There are no processing or subscription fees. BTCPay Server is free to use and completely open-source, so developers or security auditors can always inspect the quality of the code.”
its not a middle man, it's NOT a business, it's open source software you can run yourself. that's the whole point.
it replaces the likes of bitpay and allows you to run your on PoS system for your online shop WITHOUT a middleman
it's an awesome piece of software. like say you are running a online shop, you connect that with your own instance of btcpay and then when someone goes to checkout it generates a QR code and does the whole checkout shebang and tells your shop "yep they paid"
it's basically selfhosted "middleman" service so you don't need a middleman if that makes sense
the only thing it can't do for you is convert btc to fiat, but other then that it 100% replaces the middlemen
i say you should probably read the website since you are indeed very confused about what a btcpay server is
That's awesome that sounds like a really nice peice of software and something good for the communtiy. Yes I had no idea what it was after reading the website. That is why I asked for an explanation. Now you gave me one and it sounds great. I hope these guys take over all those scammers that make you top up just to take more fees.
Just a quick note (someone will probably answer your other questions): Bitcoin was never about no middle man. Middle mans like banks are needed for a functioning system if this system is ever meant to get to a serious size. The concept of a middle man like a bank or a payment provider also isn’t a bad one. What is bad and what’s bad with the current system we have is the power distribution where these middle man hold more power then the other parties. Bitcoin is not about having no middle man, it’s about redistributing the power to the relevant parties like us people.
They should answer if they were trying to get users to use them as a service. How do you trust a business handling your money that won't even give a reply to it's potential customers. I thought that Bitcoin was about not needing a bank or anyone else to handle your own money. At least that is what it is for me and has been working out well that way.
Also "Bitcoin is not about having a middle man." Your grammar is atrocious!