Bitcoin POS: payments between seller and buyer

My application has sellers with stored (public) Bitcoin addresses - lets say "receiving address".

Also application allows anonymous buyers who can buy goods from these sellers paying by bitcoins.

What I need is that money from the buyer to come to seller as fast as it possible. To do it now I am using https://blockchain.info/api/api_receive service to generate unique payment address for each payment. So, I can see that payment was done in a second, and using their callbacks I will know when payment is confirmed and redirected to the seller account.

This way works, but I am not comfortable with this. Different reasons - depending on blockchain.info, redirecting money takes from 10 mins to some hours.

I started using this ways 3 years ago but I fill it can be another way to do this properly. Do some one has another solution for associating payment with order.

Also another questions - is it any way to make payment to Seller address directly and associate this payment with the order.

Thank you in advance.

blockchain.info

Alex

Posted 2014-11-20T22:47:03.933

Reputation: 163

Are you capable of running a local bitcoind instance? – Nick ODell – 2014-11-21T06:40:28.363

Yes, I am looking for any solutions. – Alex – 2014-11-21T08:21:58.980

AFAIK, the buyer needs to include a fee if they want their payment to be processed quickly. There is little you can do assuming your callback provider is efficient (If they aren't, simply use an efficient one). – GiantCowFilms – 2016-04-20T04:45:00.790

Answers

There is nothing you can do to speed this process up unless you are running a local copy of bitcoind or btcd to be able to query the blockchain yourself using JSON-RPC.

This is not much of an answer, but unless you can give more specifics, I can't really advise further.

T9b

Posted 2014-11-20T22:47:03.933

Reputation: 1 254

Ok, it goes to the fact that I need run bitcoin node. But I know nothing about this. Where I can find instructions step by step how to install and then use it? I have windows server to install it, mvc.net application which need to query blockchains. – Alex – 2014-11-26T08:44:55.907

There are no specific instructions for setting things up, because every use case is specific - yours too. There is this https://github.com/bitcoin/bitcoin and this https://github.com/conformal/btcd

– T9b – 2014-11-26T10:39:17.163

Thanks for the links. But could you explain as for the newbee setup procedure for bitcoind( or something else) to have ability to query it thru querystring from .Net application. So, first: what( and where) should be downloaded and installed. – Alex – 2014-11-26T16:13:04.543

I downloaded it from here: https://bitcoin.org/en/download What is difference with applications from your links: github.com/bitcoin/bitcoin and this github.com/conformal/btcd

– Alex – 2014-11-26T21:13:15.443

You can use coinvoy. I think it provides what you need. With coinvoy you don't need to generate specific address for every payment (coinvoy does it for you), you just need to generate payments for orders and listen for the IPN calls. No need to register, you can start using it immediately by using C# client library.

It is a free service (as in beer and as in freedom) and it liberates you from downloading bitcoind which stores blockchain data (it must be around 25GB currently). There is no speeding up though but it forwards the payment to your address as soon as the payment broadcasted on the network.

paddlesteamer

Posted 2014-11-20T22:47:03.933

Reputation: 55

To avoid extra payment forwarding hops, the best way is to use your own HD wallet to receive payments. You can create a new address from you wallet each time and get payments.

For payment callbacks you can either directly deploy electrum server, or use services like Blockchain API v2/ Blockonomics.

dark knight

Posted 2014-11-20T22:47:03.933

Reputation: 1 532