At BIPS we offer to accept and pay out in all currencies that are supported by our bank as well as holding foreign currency accounts for as many major currency accounts as possible.
GBP is next on our list to add, but this is still going to be an international transfer as only SEPA offer next to instant bank transfers across borders, and that is only workable in EUR.
As both Britain and Denmark are not using the Euro as the main currency within our banking systems, conversions are almost always inevitable. However you can send GBP to us and we will load your account with bitcoin according to our conversion rate (fiat to bitcoin) less the actual bank fee.
Unfortunately many banks around the world still charge very high fees on international transfers, even if they are conducted in the local currency.
We are lucky to have a banking system with rather low banking fees and the max fee paid is equivalent to $7.5 USD with the lowest being $2.25 USD.
This is actually one of the reasons bitcoin is such a great way to pay. Once you have bitcoin, sending payments across borders becomes free or almost free.
However converting from fiat to bitcoin and vice versa will never be free unless banks across the globe decide to ditch the fees - and we know that will never happen.
Sure as a payment solution provider, we could open bank accounts all across the globe and it's quite possible we will have many local bank options in the future. That will not be free either though. Daily transfers to local clients accounts, possibly, but maintaining a bank account in a foreign country is certainly not free. Having said that, we will strive to make transfers as cheap as possible no matter where you are located in the world and are adding more options as fast as we possibly can.
As for atm machines at this point - Bitcoin usage and demand is still scattered over large areas and setting up such machines would carry a huge bill, which one way or another has to be paid. We will be back to regular bank atm fees for buying bitcoins this way and even that will take a long time before will be a reality.
Physical presence requires money - there is no way around it.
The probable best solution for your customers for now, would be to encourage them to buy bitcoin in bulk in order to spread bank transfer flat fees over a larger amount. And then use bitcoins to pay for services.
And even better for the long term, would be for them themselves to accept bitcoins as payments for goods and services and then spend the bitcoin with another supplier of goods accepting bitcoin.
Keep the circulation in bitcoin instead of converting back and forth to fiat. As much as possible!
Thank you for the explanation . I think we agree that until people can simply transfer currency into bitcoin easily(maybe never) we are at a dead end as people just will opt to pay cash ,why should they bother ? ,I cannot at the moment give them a good reason . For now bitcoin's use is as online cash for digital goods I'am struggling to envisage the future for bitcoin in the current physical services economy . May be it will gather momentum as a store of value and protection mechanism against the possible failure or re-evaluation of fiat currency but it seems to have very limited use in the real economy due to it's restrictions |
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Thank you very handy link . I still couldn't fill the form in even with all them codes . My bank used to be Lloyds TSB . It is now TSB and I cannot see any codes for them . There are codes for about 6 different LTSB so I would not know which one to use . Thank you for the info though I will contact my bank again to see if I can get any joy |
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As I understand it so far, the issue at hand was bank integration, so that you could exchange bitcoin instantly to money in your bank, if we can find out what your UK bank likes to call SWIFT or BIC. We are one step closer to our final goal of making bitcoin perfectly simple.
The other way round is my first hurdle .
I wanted to test the waters with a small payment using your platform .
I click Buy bitcoins .
Asked for information I have never heard of before to verify my account before I'am allowed to purchase .
iban ?
Bic ,swift ?
I know after research that these are international details needed to transfer money internationally .
This would itself put off all my customers and would be hesitant to ask them to do this . .Especially since my bank TSB charge £10:00 per transaction .
Can I ask since London is the major financial capital of the world with virtually self regulating banks why all bitcoin companies insist on transferring gbp to eur to usd ?
I live in the Uk every transaction I complete deals with Account number and sort code .
If your platform could exchange gbp to bitcoin seamlessly with no £10 transaction fee I could attempt this .
I Live and work in Britain so do my clients I very much doubt they would be willing to enter international currency market just to pay for a small private job.
I need a simple way for them to get bitcoin like them atm machines advertised were people can simply put gbp in and get a paper ticket with the bitcoin on .That obviously isn't a reality yet .
For now my issue to overcome is getting a simple method for my customers to access bitcoins to pay me .
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The great thing about a market not controlled by corrupt governments and central banks is that there will be natural price discovery .
The natural cycle for the life of bitcoin will look like :-
The Start .
Market price rising = mining profitable .
Mining keeps growing but market lagging behind = mining unprofitable .
market grows,price increases = mining becomes attractive people grow there mining pools new miners attracted .
For a virgin market .
Price and miners will find a natural equilibrium .
What bitcoin needs at the moment is for market share and adoption to increase to make current technology viable to use .
There currently is no need to increase the hash rate to support the tiny market share bitcoin has ,all that is happening is that mining manufacturers are on a suicide mission
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Maybe your service and others will be useful in a pure bitcoin economy but getting fiat to bitcoin seems to me as a tradesman to be a major hurdle .
I'am a simple tradesman not a computer wizard ,what is the simplest, easy to apply method to get a complete noob to pay me in bitcoin using your service .
My customers will not go to the trouble I'am going to just to pay me bitcoin .
I,am hoping to present to them something that is easily executable .
If I can make this work I know a lot of issues this will solve in the uk contracting industry and many of the company director I know would at least try it .
I want to try to make it work on small individual private jobs before involving some company directors .
A live converstion would be easier to discuss but many bitcoin companies seem to prefer forums and e-mail which is not how I communicate in the building industry .
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Hello Kris,
I have come here to address an issue I have .
I cannot access your customer service using the contact button at the bottom of the BIPS page
When I put in my e-mail and password it tells me it is incorrect .
This is strange since I clicked "contact " while logged into the BIPS account .
The issue I'am trying to resolve is that I want to verify my bank but you require "SWIFT or BIC" What is this ?
In the uk we use account number and sort code .
But you like bitstamp who I have attempted to deal with ask for iban and swift which my bank says they cannot transfer funds to .
I want to try to purchase £10 worth of bitcoin from you to test the waters but it seems very difficult for me to accomplish .
How can I make bitcoin simple to my customers if I find it impossible myself ?
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...8)Thirded  ... |
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Guys, we need a few more TH/s to reach 100 TH/s. A few +1 on Google+ would also be nice so we can reach 1000: https://bitminter.com/+ Following |
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The only reason I had to restart my clients were that the fans were to loud overnight .
I have removed all fans and placed my usb's and computer in a tub of oil so I have been able to run overnight getting the full 24hr period .
So the issue is not a major deal but it would be nice to see a resolution .
Please don't take my posts as complaints I'am simply trying to help iron out issues with you .
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The tick boxes at the side of my com ports to enale auto restart.
I have 11 but only about 3 stay ticked .
The others have appeared with new COM port numbers? Same port numbers but un ticked i click ok at bottom after re-ticking but still does not save . Weird thing about the issue is that although only 3 remained checked at least 6 start on auto while I have to manually start the others |
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Any update to the clock and hash rate indicator not working on start up, after a restart my client works.
One thing I notice the tick boxes at the side of my auto start do not save and I have to re tick them every time I start the client
I haven't been able to reproduce the hashrate indicators failing on any of my computers, so I'm having some problems tracking this bug down. Which tick boxes exactly are those? All of them? The tick boxes at the side of my com ports to enale auto restart. I have 11 but only about 3 stay ticked . If you need any info from my system please specify and I will provide it . My operating system is vista 64. |
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Any update to the clock and hash rate indicator not working on start up, after a restart my client works.
One thing I notice the tick boxes at the side of my auto start do not save and I have to re tick them every time I start the client
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Thank you that looks like it would do the job . My customers are private individuals that have no clue what bitcoin is ,I want to present the payment option in as simple a form as possible . So I do not want to scare them off . |
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I signed up to have a look at their solution, but didnt work for my requirements. You have to add all your products etc.
Coinbase seem to have a similar service, but better site.
Blockchain.info has a good api to take payments. I used them instead.
I looked at coinbase but it is USA only . Will see if blockchain is any use thank you . Any other payment services that uk tradesmen can use with escrow available ? |
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Hello ,
I'am a Uk contractor and wanted to set up a simple bitcoin payment option .
My issues
Filled application got e-mail to confirm ,The "CONFIRM" button does not work .
The "CONTACT" button does not work .
The "support" button does not work .
If I struggle to contact them during the application process I'am never likely to get the account up and running .
I thought this could be a useful tool for me but like most things bitcoin wise when I attempt to apply to real life it becomes impossible to do .
How did they get 1000 merchants with the current difficulties ?
Anyone successfully using the service have any help or opinions ?
searches on this forum result in single posts with no replies .
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Does anyone know a video step by step instruction on getting asic miners to work on this pool .
I got one gpu here .
All my asics are with bitminter since it was the only instructional video I could understand .
I tried for hours to get bfg miner running with this pool but gave up .
I know this stuff may be easy to a lot of you but I cannot follow the written instructions but can pause videos till I get it right .
Thank you for any advice .
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One thing I know for certain is that any chart that looks like the first one has always resulted in a massive correction .
An example is seen in bitcoin price when it went to $270 ,what happened very shortly after ?
This is a Bitcoin example, but there are lots of others ,if anyone has an example of a financial chart showing vertical increases without being followed by an equally sharp decrease I would be surprised to see it .
More recently we saw a vertical decreace in price sharply followed by an immediate vertical increase.
If that chart were price related ,then it would be a perfect short oppotunity ,although history proves humans are more prone to buy in such situations .
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Yes we are back ,thank you Doc will try that .
Recently the platform seems to be working better at start up .
One issue that I have is that when I check the boxes next to my usb ports to enable auto start they do not save and I have to recheck them although recently my usb devices have been auto starting without re checking the boxes .
The other issue is that the live stats on the website do not accurately reflect my client stats .
Example web stat 3.2 gh's actual client 3.690 with 11 usb's
Shares submitted always at least 100 less than the client .
It seems the website does not record the first amount of shares that my client records .
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Just tried it again ,
but I cannot copy the log ,highlight but cannot right click to copy .
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Is there a 32bit driver for asicminer usb's .335ghs.
Trying the 1.4.2 version on a 32 bit vista laptop bit cannot get the client to mine at all .
It found com4 then said tuning miner but not hashing happens .
do not know how to add screenshot in this forum .
You can copy paste the log messages. No need for a screenshot. Does it say anything after tuning timer? No nothing after tuning timers even if I try to do a second test all ports the log does nothing no update on log at all |
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