Visa&Bitpay

[ynclksnr321]

As you know, last week visa system collapsed. A lot of people could not shop or get service. I see this as the infrastructure provision actually made of blockchain technology. Do you think that some application like BitPay based on the blockchain infrastructure can stop them?

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[Herbert2020]

Bitpay is not based on blockchain technology! as a matter of fact it is nearly the same thing as VISA, a centralized transaction processor. the only difference is that Bitpay is working with bitcoin but VISA is working with fiat.
as a result a similar problem can happen to Bitpay for example if their servers go down  or something like that.

[coupable]

It was just a technical erreur had been solved in 24 hours.

Every system has loopholes!
Similar issues may oftenly occur anytime for all the running systems even those in decentralisation. You don't have to worry about taking hand from Visa as BitPay run in another environement

[1Referee]

as a result a similar problem can happen to Bitpay for example if their servers go down  or something like that.

Exactly that. People quite often tend to blame the centralized fiat infrastructure for not performing well, but every centralized crypto gateway is just as bad. In recent times BitPay's 'subtle' change has cost merchants potentially millions in revenue due to how difficult it is for the average person to find a workaround. Geeks and those who have been here for a longer while will put some effort into finding that workaround, but the average person will just skip it entirely or use CC or PP in worst case.

Merchants then will blame Bitcoin for losing popularity and whatnot, all due to the incompetence of the services they pay to make things easy for them.

[gentlemand]

In recent times BitPay's 'subtle' change has cost merchants potentially millions in revenue due to how difficult it is for the average person to find a workaround.

I would dearly love to know what their thinking is on this. Even if they now have Jihan Wu's hand all the way up their colon, they still in the business of making money and their wallet restrictions and 'network fees' are costing them custom.

Now Coinbase has offloaded private key management on their clients Bitpay will be the sole option for many. I hope something better comes along. As BTCpay or whatever it is is laudable but it doesn't have banking and that's what most want.

[1Referee]

I would dearly love to know what their thinking is on this.

I would like to know that too. It's probably a kiddie not knowing anything about ecommerce that messed it all up. Money is leaking away from merchants and BitPay itself, so it has to be corrected at some point. If something is working, don't break it. How difficult is it to understand for people.

As BTCpay or whatever it is is laudable but it doesn't have banking and that's what most want.

Indeed, BTCPay at this point isn't viable for most of the simple merchants only caring about that extra bit of revenue. It just requires too many steps to set up; it requires you to take care of hosting, set up an exchange account, verify yourself in order to get your fiat back, be subject to different taxation laws since you are dumping yourself now, etc. Just not accepting Bitcoin would be an easier option for merchants.

[funchiestz]

I do not think it is very correct to make such comparisons. Visa is broking a payment unit. Bitcoin is the money itself. Bitcoin does not need Bitpay, it has a structure that can be used directly.

[Patatas]

As you know, last week visa system collapsed. A lot of people could not shop or get service. I see this as the infrastructure provision actually made of blockchain technology. Do you think that some application like BitPay based on the blockchain infrastructure can stop them?

I see 'BitPay' and I couldn't resist from sharing my 2 cents.

Short Answer : No
Long Answer : They can be stopped by a better service provided and not BitPay.BitPay is hated by everyone who has ever come across their service.Even the bitcoin community doesn't find them good forgot about mass adoptions of that payment system.BitPay is the reason why I would actually prefer Visa than wasting 2 hours setting my shit up.

[coupable]

As you know, last week visa system collapsed. A lot of people could not shop or get service. I see this as the infrastructure provision actually made of blockchain technology. Do you think that some application like BitPay based on the blockchain infrastructure can stop them?

I see 'BitPay' and I couldn't resist from sharing my 2 cents.

Short Answer : No
Long Answer : They can be stopped by a better service provided and not BitPay.BitPay is hated by everyone who has ever come across their service.Even the bitcoin community doesn't find them good forgot about mass adoptions of that payment system.BitPay is the reason why I would actually prefer Visa than wasting 2 hours setting my shit up.

BitPay is a high rated compagny actually with some great parteners (pay-safe-card goup, namesheap,...) so i don't understand how you concluded that it is hated by everyone who has ever come across their services. There is no comparison that would be made between BitPay and Visa as each one is specialized its own kind service. BitPay won't remove Visa Cards for any reasons but it's may would be the inverse if the Visa group add Blockchain technology to its near milestones developements.

[profdetected]

I had some problems with BitPay when I used this service for my site. So I can't say BitPay is better in stability than VISA. VISA is more globally service and is more reliable.