Does it work like cryptocurrnecy tumblers? If yes, wouldn't it be hard for you to establish your project because you can almost do the same with those tumblers, and what makes yours unique from the other.
How do you plan to get an income from this because it looks like it is only a bridge for anonymous payments, do you get commisions or are you putting ads, cause that helps a lot.
One last thing I can think of is how can the receiver get the payment when there are no sign up, this might be a problem in the long run because there can be mix-ups, I hope you can put a unique identifier for receiving payments like two way encryption where the sender and the receiver carries one key and the payment will never be valid when there is no activation from the both parties.
How do you plan to get an income from this because it looks like it is only a bridge for anonymous payments, do you get commisions or are you putting ads, cause that helps a lot.
One last thing I can think of is how can the receiver get the payment when there are no sign up, this might be a problem in the long run because there can be mix-ups, I hope you can put a unique identifier for receiving payments like two way encryption where the sender and the receiver carries one key and the payment will never be valid when there is no activation from the both parties.
Thanks for your comments, answering your questions:
Does it work like cryptocurrency tumblers?
Not exactly, payrobot.io has two approaches:
1) Payment forwarding
This is like a cryptocurrency tumbler, you send coins to one address and receive it in other. BUT, this is intended for payment tracking via API and Callbacks, example:
Tom opens a Bitcoin platform and wants to accept payments easily, he doesn't want to use BitPay, Coinbase, or Full Node etc because of (any reason: hard implementation, privacy, sign-up, high rates, etc). So with payrobot.io generates one-time addresses to give to his clients and receive payments. Payrobot notifies his platform with url callbacks the status of payments so he can manage them automatically. Furthermore funds are sent immediately to his personal coin address as soon as payment is confirmed.
2) Wallet
Same as above but payments are stored in a private wallet where Tom's platform can request later send coins to different addresses. For example this is useful if Tom is implementing a PTC platform, investing, games or whatever where send coins to clients is required.
How do you plan to get an income from this because it looks like it is only a bridge for anonymous payments?
Payrobot.io takes 0.90% fee per recieved payment (inbound transactions), all outbound transactions are free. No ads
One last thing I can think of is how can the receiver get the payment when there are no sign up, this might be a problem in the long run because there can be mix-ups
Generated addresses are one-time use so there is no way to mix-up where the payment has to be forwarded, all transactions are identified with unique IDs also
Wouldn't your project be a hotbed for illicit transactions? The anonymity surely will attract people from all walks of life, and I think that the creator has a degree of responsibility when a transaction for illegal has been done on his site.
Do you have any sort of audit trail that can only be given to authorities when the time comes? I know that this defeats the purpose of anonymity but I believe that letting illegal activities become prolific side by side with cryptocurrency innovation will result in a pyrrhic victory. Will your site participate with authorities for investigation when it is needed?
Hi, Lorence.xD
I'll expose our point of view of this situation:
Wouldn't your project be a hotbed for illicit transactions?
We're very clear that funds from illicit transactions are not welcome to our project but we're aware that it may be used for "bad things", unfortunately it's hard to know if crypto coins are ill-gotten or not, even having the user's personal details they could be false.
Now Payrobot.io is only the technology provider for interacting with blockchain as bitcoin core, electrum, any other wallet or even a tx pusher. The problem with illegal funds arises when they're exchanged to fiat money because it could be technically considered as money laundering.
Do you have any sort of audit trail that can only be given to authorities when the time comes?
We only have the same information that is in the blockchain, and actually this information is public. I mean if someone wants to pay for something illegal he/she could do it using bitcoin core itself. As I said before, legal issues arise when fiat money / money laundering is involved and Payrobot.io only help people to track payments or store them in a safe place all other processes involved are the blockchain itself.
Will your site participate with authorities for investigation when it is needed?
We can be "forced to" by law but we know the same information as public blockchain, cryptocurrency txs don't have a last name it's the nature of crypto coins. Transactions rely on blockchain and funds are actually stored in blockchain so tracking payments or help people to manage them is not illegal even if funds are ill-gotten because there is no way to know where they came from. Obviously if for some reason we come to know that some funds are illegal we'll of course ban that user and inform authorities if it's necessary.
We do not consider payrobot.io to be the paradise of illegal transactions but we want to protect the privacy right of the user. It could be a hard topic as politics but what history could teach us about this is that similar services have been running for years without any issues