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Title: bitcoin fight for market share of merchants better for us all Post by: qwerty555 on July 31, 2014, 06:25:02 AM “We have set a goal to enroll 1 million merchants by the end of 2016 […] When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. By offering a basic plan that is free and unlimited, forever, we give merchants yet another reason to be excited about bitcoin.”
http://www.coindesk.com/bitpay-eliminates-fees-basic-merchant-processing/ BitPay Offers ‘Free and Unlimited’ Payment Processing for Merchants Compare that to paypal http://pesobang.com/why-a-chinese-ebay-power-seller-quit-paypal-and-start-accepting-bitcoin/ The big deal is: Paypal charge us 3 to 7 percent per transaction so it should be their Job to not just protect the Buyers but also the Sellers, So in case of any unusual transactions they should review the submitted documents carefully and decide a smart decision carefully. Yes we agreed with the fees and we’re okay with it, but limiting accounts for no good and holding funds for 180 days for security purposes is a serious issue. Title: Re: bitcoin fight for market share of merchants better for us all Post by: qwerty555 on July 31, 2014, 06:34:22 AM so if in May Bitpay average was processing $1million a day from 30,000 merchants simple maths says that by 2016 if they reach the target of 1 million merchants or 33 times what they had then volume for bitpay alone should be in the region of $33 million a day or 1 billion + a year (minimum) so an initial $30M investment looks cheap for that volume.
http://www.coindesk.com/bitpay-now-processing-1-million-bitcoin-payments-every-day/ and to extrapolate further.. if the current total average daily volume of approx $50 million a day traded moves in step ..a 33 times increase will suggest that volume in 2016 will reach $1.6 billion a day :) what will that do to the price HOO HAR d HAR! |