Fiverr.com forced to remove BTC as a payment option due to high fees

[aoluain]

It's a shame to see bitcoin merchants dropping out of the market, rather than seeing greater bitcoin merchant acceptance. It's what gives utility value to BTC.

Most people seem to be getting excited about the ETF. This turns BTC into a pure speculation coin and that is only going to end up with disaster.

Some people trade FOREX. Foreign exchange is changing assets with utility value.

If BTC has no utility value, it's just a lot of electricity wasted mining 1's and 0's.

and in turn would this mean going forward that there would be less and less mining?

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[franky1]

bitcoin 0.13 minrelay fee 0.00001000    ($0.0125c)
bitcoin 0.14 minrelay fee 0.00005000    ($0.06c)

and that is just to allow it to be relayed by other nodes, before even getting to the 'average fee' of the 'auction' bidding fee war of fighting for next in line..

goodbye third world countries wanting to be paid for an hours labour

with the fiat valuation increase of the last couple years you would have thought they would have dropped the minimum relay fee, not increase it.
seems all they care about is using economics to out price spam. and not actual code rules to reduce spam.

[AngryDwarf]

It's a shame to see bitcoin merchants dropping out of the market, rather than seeing greater bitcoin merchant acceptance. It's what gives utility value to BTC.

Most people seem to be getting excited about the ETF. This turns BTC into a pure speculation coin and that is only going to end up with disaster.

Some people trade FOREX. Foreign exchange is changing assets with utility value.

If BTC has no utility value, it's just a lot of electricity wasted mining 1's and 0's.

and in turn would this mean going forward that there would be less and less mining?

They'd switch them off and use them as warehouse heaters when required.

[AngryDwarf]

bitcoin 0.13 minrelay fee 0.00001000    ($0.0125c)
bitcoin 0.14 minrelay fee 0.00005000    ($0.06c)

and that is just to allow it to be relayed by other nodes, before even getting to the 'average fee' of the 'auction' bidding fee war of fighting for next in line..

goodbye third world countries wanting to be paid for an hours labour

with the fiat valuation increase of the last couple years you would have thought they would have dropped the minimum relay fee, not increase it.
seems all they care about is using economics to out price spam. and not actual code rules to reduce spam.

Mmm, cores attempt at strangle holding the market is not welcome news, and I find myself losing confidence in them faster by the day.

[Carlton Banks]

bitcoin 0.13 minrelay fee 0.00001000    ($0.0125c)
bitcoin 0.14 minrelay fee 0.00005000    ($0.06c)

and that is just to allow it to be relayed by other nodes, before even getting to the 'average fee' of the 'auction' bidding fee war of fighting for next in line..

goodbye third world countries wanting to be paid for an hours labour

with the fiat valuation increase of the last couple years you would have thought they would have dropped the minimum relay fee, not increase it.
seems all they care about is using economics to out price spam. and not actual code rules to reduce spam.

Mmm, cores attempt at strangle holding the market is not welcome news, and I find myself losing confidence in them faster by the day.

Increasing the relay minimum to 0.00005 should actually help the average fees.


0.00005 (5,000 satoshis) is much less than the average fee right now, and that means all low-fee spammy transactions will have to up their spammy fees to continue the spam effect.


You know what I'm losing confidence in, Dwarf? Your math and logic

[Slark]

Bitcoin was used to be payment method on HumbleBunble.com and they removed it long time ago. When high fee problem wasn't even that apparent.
Fiverr might not like BTC for some reason and used current situation where we have problems with high fees as an excuse to validate their decision.
They could simply add additional fee (for customers) to help Fiverr mitigate expenses - it is still workaround but far better that removing BTC payments completely.

[unamis76]

If they did remove Bitcoin due to high fees, then there we have the result of our indecision... This would happen sooner or later. Let's see if anyone else does similar. Pretty sad to see it happening.

[hardtime]

This is also coming from r/btc so take it with a grain of salt based on the amount of moderation that goes on around their in order to push the narrative of BU being the only option that will be able to save bitcoin from the high fees that it's having an issue with now. Though, Fiverr removed this awhile ago and much longer ago than before Bitcoin was having this issue with the whole fees thing, so this is really just attempting to put a new spin on an old story.

If they did remove Bitcoin due to high fees, then there we have the result of our indecision... This would happen sooner or later. Let's see if anyone else does similar. Pretty sad to see it happening.

They didn't so, yeah.

Bitcoin was used to be payment method on HumbleBunble.com and they removed it long time ago. When high fee problem wasn't even that apparent.
Fiverr might not like BTC for some reason and used current situation where we have problems with high fees as an excuse to validate their decision.
They could simply add additional fee (for customers) to help Fiverr mitigate expenses - it is still workaround but far better that removing BTC payments completely.

I think it was removed on Humblebundle due to people buying tons of the games anonymously and re-selling it, and they couldn't track it cause they couldn't only make it a one per purchase or something along those lines. I'll look for the posting done by HB on bitcoin, It's a google.com away.

[chopstick]

This is also coming from r/btc so take it with a grain of salt based on the amount of moderation that goes on around their in order to push the narrative of BU being the only option that will be able to save bitcoin from the high fees that it's having an issue with now. Though, Fiverr removed this awhile ago and much longer ago than before Bitcoin was having this issue with the whole fees thing, so this is really just attempting to put a new spin on an old story.

Your point? You want to talk about moderation and censorship? Because we both know r/bitcoin takes the cake on that front. They literally remove hundreds of comments that are not in line with Core's BS