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21 sats \ 1 reply \ @PlebQR 7 Jan \ parent \ on: Kinda interesting Thai fiat to Bitcoin P2P bridge - > PlebQR mobile app lightning
Hello, I appreciate your insights.
PromptPay is widely used in Thailand, with nearly all merchants accepting it. The project is structured as a competition, where the first local to accept and process an order will earn a significant commission. As a result, the required number of locals is relatively small. However, it’s essential to maintain a good balance between payers and exchangers.
There are some drawbacks. The payment processing time can be slow, even if the order is accepted right away. The optimal payment time is around 20 seconds, but it still works well in many scenarios, such as paying at a restaurant or online shopping and small bill payments.
Currently, we also impose a limit on transaction sizes, capping them at 500 THB. This measure is in place to encourage local acceptance of orders, which means that paying rent is not feasible at this time.
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0 sats \ 0 replies \ @john_doe 2 Feb
@PlebQR Very nice way to pay! So first, thank you for providing this service. My 2 cents:
  1. It would be nice to have a more "Bitcoin-like" way of knowing what we should expect for the waiting time. For example on mempool.space, we have low, normal and high priority for fees. Why not add a normal priority, not just low or high for fees?
  2. When we use a self-custodial wallet we pay fees for each time it has been cancelled, so it could be a frustrating UX (note that I am not frustrated and I am happy to lose sats to try your service) if a payment fails multiple times
  3. QR codes may have a timeout which doesn't match the timeout on plebqr. So if a business has a timeout of 3min, even if the order has been accepted on plebqr it can fail. Note also, I didn't check if the timeout is available in the QR code, so on your side besides allowing the user to customize the timeout you may not be able to do anything.
  4. There may be some mismatch with incentives. Poor people may not have enough to buy sats and may not be able to pay a lot on behalf of someone, so there may be few demand for low fees. Inversely for higher fees richer people may not be interested in just 20 THB only. In this context, it would be nice to have a bot for example taking orders if nobody takes it to fill this incentive gap to improve UX when nobody takes orders to avoid failures.
  5. It doesn't look like there is a 500 THB limit as advertised, which is fortunate because it would have been quite limiting.
  6. I don't know how much feasible it is, but I think automating the part to take orders would incentivize people to take it even for low fees. For example if banks provide APIs to automate the flow, just having to confirm a payment for an x THB order in exchange of y Sats would improve UX on both sides (and probably solve 90% of timeout and speed issues).
Again, just my 2 cents, feel free to ignore, nice idea, nice project!
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