The statistics that I have stated are based on trxs that rely on our tool. They are not overstated, this is a reflection of the 0conf market on BTC.
They are trxs which our clients query via the API and which I clients pay subscription for.
There is no point for clients to send us trxs they don’t want or need our response from. We are a B2b provider so we are not sure how and who the end users and applications are.
Coinify definitely doesn’t send us all their traffic, as I would think some of our other clients.
Here is some external confirmation a bit old though but still-
You can also see our video of Coinspaid using our service on our site - all our Marcom is a bit old.
We service primarily payment processors and liquidity providers and not end merchants so I can’t say how and to who end clients implement it.
If AML/KYC was enough to prevent double spends all exchanges would offer 0conf.
I don’t know the split with our clients as it’s non of our business but definitely a significant amount of end users are not Kyced for the trxs.
Best would be to try and talk to some of our major clients - ie Coinpayments, Coinspaid and Coinify.
On Sat, Dec 03, 2022 at 01:01:16PM +0200, Daniel Lipshitz wrote:
> Shapeshift used to be clients in fact one of our first when we started in
> 2016.
>
> They no longer use our service but from time to time use us for fee
> recommendations. So we actually should remove their logo as a current
> client.
Yes you should. When did ShapeShift stop using your service? Did they explain
why?
> If you wish to test it out try find a merchant using Coinpayments or
> Coinspaid.
>
> Also some of our non custodial liquidity providers offer service no
> custodial wallets. I am not sure which.
I see that you also advertise that Gap600 is "Trusted by" Coindirect and
Coinify, both AML/KYC crypto exchanges. Obviously, with full AML/KYC
double-spends are not much of a concern. And it's not even clear that
either accepts zeroconf anyway, as I'll explain later.
On this list you claimed that:
> 1. As of end of Nov 2022 - GAP600 has processed i.e responded to circa
> 15M transactions
> 2. These transactions have a cumulative value of 2.3B USD value.
> 3. We currently are seeing circa 1.5M transactions queired per month.
What's the value and number of transactions that *actually* rely on your
unconfirmed transaction tools? The only category that would apply for is goods
provided immediately and irrovocably, without AML/KYC. Because it sounds like
these figures may be significantly overstated.
Re: CoinsPaid, what you say here makes it also sound like it relies on AML/KYC:
> CoinsPaid applies a special software tool across its solutions to conduct
> stringent KYC procedures and a risk-based approach to CDD that verify user
> identities to mitigate fraud, money laundering and other activities linked to
> criminality and terrorism.
https://www.gap600.com/uncategorized/coinspaid/
Re: Coindirect, the documentation I can find appears to say that confirmations
are required before you can use coins deposited into Coindirect:
> Digital currency transactions must be confirmed on the relevant network block
> before they are considered valid. Only once confirmed, will you be able to
> use the coins deposited in your Coindirect wallet.
https://help.coindirect.com/hc/en-us/articles/115002441974-How-quickly-can-I-use-coins-deposited-into-my-Coindirect-wallet-
This is repeated here as well: https://help.coindirect.com/hc/en-us/articles/4409120006546--Deposits-
Re: Coinify, the API docs don't give any indication of risk scoring or any
other Gap600 integration:
https://merchant.coinify.com/docs/api/#payment-object
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https://petertodd.org 'peter'[:-1]@petertodd.org