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Author Topic: What is Bitpay's agenda with BTC?  (Read 60 times)
gentlemand
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June 21, 2018, 09:52:01 AM
 #1

As anyone who's used them knows, Bitpay does not make Bitcoin usage easy any more. You have to use one of their listed wallets, you get this fucking bullshit network fee, even if you paid a 10 BTC fee you'd still get that 'you have paid a low mining fee. You will have to wait hours because you're not a winner.'

I understand they want to shill BCH as they've taken a large amount of Bitmain's money and want a full quasi Paypal, but there comes a time when your agenda is fucking your actual business and this must be happening by now.

Unless they're billing Jihan Wu for lost business every day I don't see how this is working for them.

What are your thoughts on this?

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June 21, 2018, 12:13:22 PM
Merited by richardsNY (1)
 #2

I think it's just incompetence.

They probably hired a few new guys that were supposed to boost their operations, but it seems to work against them. This can't be coming from the existing order that was running BitPay smoothly for years straight.

I am sure that there is quite some share holder fighting in the background due to how BitPay is messing up big time. If you have 2 ideologically different camps to deal with, things will go wrong.

It's a damn shame since people are heavily relying on BitPay as largest entity in this space. Imagine how many people ended up paying with PayPal or credit cards just because BitPay is half broken.

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June 21, 2018, 05:55:42 PM
 #3

BitPay is on path to self-destruction. There are ways to promote their favored cryptocurrency without make Bitcoin user feel uncomfortable.

I'm sure another crypto-currency payment service will take over BitPay market share and users eventually encourage their merchants to use different payment service.

Use SegWit and enjoy lower fees
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June 21, 2018, 06:00:43 PM
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I use it when I exchange my Bitcoins to dollars through different payment processors but the main one I use is Skrill. I never experience a low fee problem every time I copy the link provided by them and paste it into my Electrum wallet which I have maximum fees enabled by default.

Probably you are talking about using Bitpay directly which me too have had an unpleasant experience so far with lots of limitation to Bitcoin usage. I think we need to use them only for exchanging our coins and not directly to transact with them.

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gentlemand
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June 21, 2018, 06:03:42 PM
 #5

I'm sure another crypto-currency payment service will take over BitPay market share and users eventually encourage their merchants to use different payment service.

They've got the banking though which is always the hardest part. I know there's stuff like BTCpay but most merchants don't actually want a single thing to do with crypto itself. Coinbase appears to have done their best to drive merchants away. I'll be interested to see if anyone else has a go. Merchant services look like a shrinking field.

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June 21, 2018, 06:53:01 PM
 #6

Yeah, it makes me wonder on two issues:

- why haven't other merchant solutions been able to fill up the void? Bitpay's been a pain in the proverbial ass for the longest time, but still somehow the most commonly used. I've used at least a couple of others now (via merchants payment portals)... I can only remember Coinpayments, and it was a hell lot easier/faster/cheaper to use than the older names.

- why haven't one or two of the scores of ICO projects touting merchant gateways come up properly for Bitcoin? I've seen a couple of good ones already for alts, but why is Bitcoin - the world's most accepted currency - still a pain in the mule for these processors to integrate?

I have a third, but it's more like a rant about why merchants just don't actually accept Bitcoin and give up on the dollar psychology.

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June 21, 2018, 08:00:41 PM
Merited by richardsNY (1)
 #7

I am sure that there is quite some share holder fighting in the background due to how BitPay is messing up big time. If you have 2 ideologically different camps to deal with, things will go wrong.

While reading your comment I was thinking:
Yes it's true, it's like BTC vs BCH. So if @gentleman wants to know the bitpay agenda, well they follow Bitcoin  history Cheesy

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June 21, 2018, 10:58:47 PM
 #8

I am sure that there is quite some share holder fighting in the background due to how BitPay is messing up big time. If you have 2 ideologically different camps to deal with, things will go wrong.

Must be if we look at how BitPay's roadmap has been changed in more recent times. I wonder if this will result in a split where we are going to see 2 separate businesses doing exactly the same thing. I'm glad that I never invested in any of the businesses in this industry directly. In some way there is a toxic element that you just don't want to be part of, because they'll blackmail you and could potentially reduce your stake to dust if you have the wrong person against you. This once again proves that we should move away from these centralized services, but it's not that easy unfortunately.
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