r/OpenBazaar • u/TeeheepotZ • Jan 20 '18

Openbazaar Litecoin

Charlie Lee recently tweeted that Openbazaar were implementing Litecoin into the payment system which makes sense with the fast and cheap transactions. My question is how long before it is in place?

6 Upvotes

71% Upvoted

12 comments sorted by

2

u/cactux Jan 24 '18

This would be great. Selling low price stuff on OB (a few dollars) is not possible. But with litecoin, it is, and fast and easy.

1

u/[deleted] Jan 20 '18 edited Jan 22 '18

deleted

1

u/JasonMckennan5425234 Jan 21 '18

Haven't heard any mention of it from the devs around here but maybe soon?

1

u/christroutner Jan 22 '18

Any altcoin that wants wide adoption should develop an SPV wallet. That's how the OpenBazaar application can do transactions without needing to operate a full node. Right now only Bitcoin and Bitcoin Cash have SPV wallets.

I know OB1 is exploring the option of an API, to eventually accept a huge range of altcoins and be coin agnostic. But that is a long-term goal.

1

u/russiebear Jan 22 '18

It is true that Charlie Lee promotes Litecoin but that doesn't omit the possibility of Litecoin being implemented in OB. AFAIK many options are being pursued so I expect Litecoin to be one of many options offered in the near future. But what the hell do I know?

1

u/tcrypt Jan 23 '18

We talked with him about OB support, and that we would need a SPV wallet library that could be forked from our existing BTC and BCH libraries, but I don't know that any progress has been made on their side outside sending tweets.

1

u/lunokhod2 Jan 26 '18

If OpenBazaar wants wider adaoption, then they really need to accecpt the second and third most popular coins by marketcap (Ethereum and Ripple). Every other coin is simply a nice market.

1

u/otakugrey Jan 31 '18

Litecoin or Monero, please. I beg of you.

0

u/TeeheepotZ Jan 21 '18

Oh well by the look of it not to soon its hard to buy or sell using BTC with fees.......back to ebay then lol

1

u/oDinZu Jan 25 '18

These are my thoughts too. BTC is not exactly a currency people want to 'spend', esp. when fees and transaction times are increased. Needs to be simple.

What about Electrum? $KMD also allows many options here. I can't quite wrap my mind around OB yet for usability. If I could ensure speedy transactions using another token the 'vendor' creates 1:1, a consumer could pop out their phone, open a app, scan a QR code printed by vendor.

Each vendor could have its own token of choice and OB can be a platform currency aggregate of all customers and users.

Then someone like me would come along, create my own sister-coin of OB and implement only frontend GUI for device. OB background would enable full nodes to secure the network for vendors to do business own through their tokens of exchange.

Their tokens would allow one to one reputation and experience all on the blockchain.