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Author Topic: Does Bitpay have serious problems?  (Read 220 times)
buwaytress
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January 20, 2018, 07:06:19 PM
 #21

Coinpayments is for hosted wallet solutions and general payment gateway for cryptocurrency ("buy now" buttons, shopping carts, and things like that). They aren't an actual payment processor like Bitpay. They can't convert coins to fiat, so it's not a merchant alternative for Bitpay. But as a consumer, I'd like to see them succeed.

Actually, that would make Coinpayment a proper crypto gateway if that's really the case. The problem with Bitpay and payment processors like them is they're not at all helping Bitcoin gain adoption. If anything, they're preventing it, since they're giving a way for merchants to NOT accept Bitcoin, and yet still access the Bitcoin user market. As you can see now, they're running into a lot of problems, which the Bitcoin user is always going to have to pay for.

Merchants, if they're serious about accepting Bitcoin (or crypto) should actually consider moving up to something like Coinpayments. Only then can they truly say they "accept Bitcoin".

BTW, there are a few issues I've seen now regarding Bitpay no longer accepting transactions despite being confirmed on blockchain. This user's issue (https://bitcointalk.org/index.php?topic=2791597.msg28550578#msg28550578) seems to suggest they're not even accepting direct wallet payments now, instead, requiring you to go through some kind of payment portal?

Bitcoin's supposed to allow people to pay directly to each other, this is just ridiculous, if true.

Edit: after checking they actually do fiat settlement to US and Euro merchants.

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January 20, 2018, 10:42:00 PM
 #22

Coinpayments is for hosted wallet solutions and general payment gateway for cryptocurrency ("buy now" buttons, shopping carts, and things like that). They aren't an actual payment processor like Bitpay. They can't convert coins to fiat, so it's not a merchant alternative for Bitpay. But as a consumer, I'd like to see them succeed.

Actually, that would make Coinpayment a proper crypto gateway if that's really the case. The problem with Bitpay and payment processors like them is they're not at all helping Bitcoin gain adoption. If anything, they're preventing it, since they're giving a way for merchants to NOT accept Bitcoin, and yet still access the Bitcoin user market. As you can see now, they're running into a lot of problems, which the Bitcoin user is always going to have to pay for.

No argument there. It's just not the market that Bitpay caters to. I'm glad that people are realizing that merchant adoption via Bitpay/Coinbase is just an avenue for people to sell BTC. It doesn't do much for adoption besides the occasional advertisement for Bitcoin ("Bitcoin accepted here")...... but it is certainly negative for the price since Bitpay merchants have no interest in becoming part of the BTC economy. They just want dollars. That's why I don't really care about merchant adoption and never did. Merchants will flock to Bitcoin (and not through payment processors) in time.

BTW, there are a few issues I've seen now regarding Bitpay no longer accepting transactions despite being confirmed on blockchain. This user's issue (https://bitcointalk.org/index.php?topic=2791597.msg28550578#msg28550578) seems to suggest they're not even accepting direct wallet payments now, instead, requiring you to go through some kind of payment portal?

Bitcoin's supposed to allow people to pay directly to each other, this is just ridiculous, if true.

They began mandating compatibility with BIP70 (Payment Protocol), but I'm not sure why that would lead to the OP's issue there. I did notice the change, and inherently it feels less private since so many details are transmitted (no user input). But reading through the details, it's not clear why it should degrade privacy. I don't think it's really feasible for Bitpay to blacklist VPN addresses. It's probably a good idea to hide as much information from Bitpay as possible, though. They are a jackpot for government/law enforcement.

Edit: after checking they actually do fiat settlement to US and Euro merchants.

If true, they should update their FAQ. To convert coins to fiat currency, they tell people to buy gift cards and merchandise with coins...

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January 21, 2018, 12:10:13 PM
 #23

To give an update:

After 29 days I finally received a response from Bitpay yesterday. It says

Quote
We apologize for the long delay in follow-up. Bitcoin has grown a lot in 2017. This resulted in doubling the number of support inquiries we get, so it takes longer to get back to our customers...

They asked me to provide a refunding address. So I did. Today I received the payment excluded by 0.001 BTC fee. My problem is resolved now.


So after 29 days of waiting they responded by returning your money, but what about the goods that you tried to buy with your payment, did they waited for you with reserved goods or what?
Because if there is some kind of sale going on and i decide to buy something that cannot end well for me after almost one month of waiting without clue what is happening with my payment.


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February 11, 2018, 12:29:24 AM
 #24

No, the order was cancelled two days after I ordered because the merchant have not received any money from Bitpay. I reordered after I received the Bitcoins from Bitpay, but of course, since the Bitcoin price is much less in value today I had to pay almost twice as much as before Christmas. Well, shit happens Smiley

To give an update:

After 29 days I finally received a response from Bitpay yesterday. It says

Quote
We apologize for the long delay in follow-up. Bitcoin has grown a lot in 2017. This resulted in doubling the number of support inquiries we get, so it takes longer to get back to our customers...

They asked me to provide a refunding address. So I did. Today I received the payment excluded by 0.001 BTC fee. My problem is resolved now.


So after 29 days of waiting they responded by returning your money, but what about the goods that you tried to buy with your payment, did they waited for you with reserved goods or what?
Because if there is some kind of sale going on and i decide to buy something that cannot end well for me after almost one month of waiting without clue what is happening with my payment.



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