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From: Daniel Lipshitz <daniel@gap600.com>
To: Peter Todd <pete@petertodd.org>
Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] [Opt-in full-RBF] Zero-conf apps in immediate danger
Date: Sat, 3 Dec 2022 15:17:16 +0200	[thread overview]
Message-ID: <CACkWPs-maywWfAt_qhnsUOTm6u_Ph=LgbuLSaF1NRJSTBWkTdg@mail.gmail.com> (raw)
In-Reply-To: <Y4s9EqMfk+yXCzIO@petertodd.org>

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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-
https://blog.coinpayments.net/news-features/gap600
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, 3 Dec 2022 at 14:12 Peter Todd <pete@petertodd.org> wrote:

> 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
>
> --
> https://petertodd.org 'peter'[:-1]@petertodd.org
>
-- 
________________________________
Daniel Lipshitz
GAP600
www.Gap600.com

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  reply	other threads:[~2022-12-03 13:20 UTC|newest]

Thread overview: 81+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2022-12-01 12:27 [bitcoin-dev] [Opt-in full-RBF] Zero-conf apps in immediate danger Daniel Lipshitz
2022-12-01 22:03 ` Erik Aronesty
2022-12-02  6:34   ` Daniel Lipshitz
2022-12-02  1:52 ` Antoine Riard
2022-12-02  6:59   ` Daniel Lipshitz
2022-12-02 22:35   ` [bitcoin-dev] Fwd: " Antoine Riard
2022-12-06  5:03     ` Peter Todd
2022-12-02  4:30 ` [bitcoin-dev] " Peter Todd
2022-12-02  7:06   ` Daniel Lipshitz
2022-12-03  8:50     ` Peter Todd
2022-12-03 11:01       ` Daniel Lipshitz
2022-12-03 11:51         ` Daniel Lipshitz
2022-12-03 12:12         ` Peter Todd
2022-12-03 13:17           ` Daniel Lipshitz [this message]
2022-12-03 14:03             ` Daniel Lipshitz
2022-12-05 12:21               ` angus
     [not found] <6342098B-A548-43C9-8F92-AAD9D0BB66AB@coinspaid.com>
2022-12-03 14:06 ` Daniel Lipshitz
     [not found] <CABZBVTC5kh7ca3KhVkFPdQjnsPhP4Kun1k3K6cPkarrjUiTJpA@mail.gmail.com>
2022-10-19 14:29 ` Sergej Kotliar
2022-10-19 14:45   ` Erik Aronesty
2022-10-19 15:43   ` Jeremy Rubin
2022-10-19 15:51     ` Greg Sanders
2022-10-19 16:04     ` Sergej Kotliar
2022-10-19 16:08       ` Greg Sanders
2022-10-20  1:37   ` Antoine Riard
2022-10-20 14:11     ` Sergej Kotliar
2022-10-21  1:04       ` Antoine Riard
2022-10-20  4:05   ` Peter Todd
2022-10-21 19:35     ` Peter Todd
2022-10-20  7:22   ` Anthony Towns
2022-10-20 12:37     ` Sergej Kotliar
2022-10-20 14:14       ` Ruben Somsen
2022-10-20 14:17         ` Sergej Kotliar
2022-10-20 19:58       ` Anthony Towns
2022-10-20 21:05         ` David A. Harding
2022-10-20 21:07         ` Greg Sanders
2022-10-20 22:02           ` Eloy
2022-10-21 12:02           ` Sergej Kotliar
2022-10-21 14:01             ` Greg Sanders
2022-10-21 14:19               ` Sergej Kotliar
2022-10-21 14:47                 ` Greg Sanders
2022-10-21 19:43             ` Peter Todd
2022-10-24  7:55               ` Sergej Kotliar
2022-10-20 22:13         ` Peter Todd
2022-10-21  9:34           ` Sergej Kotliar
2022-10-21 19:33             ` Peter Todd
2022-10-24  7:45               ` Sergej Kotliar
2022-10-21 11:56         ` Sergej Kotliar
2022-10-23 19:20   ` David A. Harding
2022-10-23 20:51     ` alicexbt
     [not found] <mailman.7.1665662404.16405.bitcoin-dev@lists.linuxfoundation.org>
2022-10-14 10:03 ` John Carvalho
2022-10-14 15:04   ` Peter Todd
2022-10-14 16:28     ` Erik Aronesty
2022-10-15  4:08       ` John Carvalho
2022-10-15  4:20     ` John Carvalho
  -- strict thread matches above, loose matches on Subject: below --
2022-10-07 16:20 Dario Sneidermanis
2022-10-07 17:21 ` David A. Harding
2022-10-07 17:28   ` Greg Sanders
2022-10-07 21:37   ` Dario Sneidermanis
2022-10-11 16:18     ` Pieter Wuille
2022-10-12  5:42     ` Anthony Towns
2022-10-12 16:11       ` Pieter Wuille
2022-10-12 21:44         ` Dario Sneidermanis
2022-10-13  4:35         ` Anthony Towns
2022-10-16  8:08           ` Anthony Towns
2022-10-17 14:25             ` Greg Sanders
2022-10-17 21:41             ` Antoine Riard
2022-10-18  7:00               ` Anthony Towns
2022-10-19  3:01                 ` Antoine Riard
2022-10-19  3:17                 ` alicexbt
2022-10-20 22:08                   ` Peter Todd
2022-11-02 15:04                     ` AdamISZ
2022-10-20 23:18                 ` Peter Todd
2022-11-09 13:19                 ` ArmchairCryptologist
2022-11-10  9:35                   ` ZmnSCPxj
2022-10-07 20:56 ` Luke Dashjr
2022-10-08 20:47 ` alicexbt
2022-10-13 16:07 ` linuxfoundation.cndm1
2022-10-14  2:44   ` alicexbt
2022-10-14 15:02     ` Peter Todd
2022-10-17 20:31 ` Antoine Riard
2022-10-17 22:14 ` Antoine Riard

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