Payment processors is too invasive and complex.

[Kakmakr]

I suggested to a merchant to signup his business at Bitpay to process Bitcoin transactions for him, but he phoned me and complained about the low "Daily Volume limit" that are applied to him, if he stay with the Basic Tier.    <USD 100 & USD 500 annual limit>

His sales volume is about $50 000 a day and these limits will severely restrict his income and the support from clients, if he cannot process their payment, when they pay with Bitcoin.  

He says the verification for Tier 3 and 4 with no restrictions is too invasive and they ask a lot of personal information. One requirement is for them to schedule an interview with the Director Onboarding / Chief Compliance Officer.  

Merchants will never jump through all those loops, just so that their customers will be able to pay with Bitcoin.  

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[bellamente]

So it turns out that Bitcoin is difficult to integrate into real business areas. I think business is better to use XRP or Stellar.

These coins have instant transactions and have a high level of trust from the crypto community

[QuestionAuthority]

I wouldn’t worry about it. There aren’t many westerners spending bitcoin anyway. BitPay had a great idea that should have gone through the roof. They must be struggling because they started taking bitcoin cash too.

I was one of the original purchasers of cupcakes at a San Francisco bakery that accepts bitcoins. I stopped in there not long ago and they told me almost no one buys with bitcoin anymore. I have to admit, I’m a little pissed at myself for using bitcoins there. At the ATH of btc the cupcakes I bought for a party cost about $37,000. 

Bitcoins are too valuable to waste them on purchases. They are better left as a trading and investment vehicle.

[BrewMaster]

if their business expects a big enough portion of that $50k per day to be through bitcoin then it is worth to pay a developer to set up a simple full node connected to their service on their server with a master public key to keep generating addresses for payment and another system, preferably offline for storage of keys and spending coins.
don't bother with Bitpay and be in full control and earn more be cause they won't have to pay the fees.

So it turns out that Bitcoin is difficult to integrate into real business areas. I think business is better to use XRP or Stellar.

i haven't really checked Stellar but if you use XRP, the developers can easily take your money if they choose to since they have full control over the coin. that is why it has never been used for anything apart from trading all these years.

[1Referee]

I was one of the original purchasers of cupcakes at a San Francisco bakery that accepts bitcoins. I stopped in there not long ago and they told me almost no one buys with bitcoin anymore. I have to admit, I’m a little pissed at myself for using bitcoins there. At the ATH of btc the cupcakes I bought for a party cost about $37,000. 

Bitcoins are too valuable to waste them on purchases. They are better left as a trading and investment vehicle.

Spent Bitcoins should be replaced, immediately, or later if you expect the price to go down. I definitely understand that average joes aren't going to waste their time doing it, but I expected someone like you to replace that what's spent.

I probably spent thousands of dollars worth of Bitcoin last year on the way up, and I conveniently bought everything back on the way down. I'm not sure how the situation within your jurisdiction is, but I can spend coins without having to pay tax over them, regardless of the transaction value. It's a convenient way to lower my legal net worth without actually breaking any laws.

[gentlemand]

So it turns out that Bitcoin is difficult to integrate into real business areas. I think business is better to use XRP or Stellar.

These coins have instant transactions and have a high level of trust from the crypto community

Do attempt to use the wonderful brain Mother Nature awarded you. It's aching to be put into action.  It's USD that creates all the problems and creates all the friction. That's also the only reason anyone would use a payment processor.

I can't believe that after all this time Bitpay is the only game in town, a company that is now Bitmain and BCwhatever's bitch and is not to far off actively hostile to Bitcoin. Coinbase have abdicated this area with their changes to how they treat merchants.

What retail operation requires a CCO?

[squatter]

I can't believe that after all this time Bitpay is the only game in town, a company that is now Bitmain and BCwhatever's bitch and is not to far off actively hostile to Bitcoin. Coinbase have abdicated this area with their changes to how they treat merchants.

I wonder why they're not accepting ABC coins. BCH has been unavailable on Bitpay since the fork.

There's a few other competitors in town like Coingate and Coinpayments. The latter has pretty low fees at 0.5% too. But Bitpay has a much bigger brand and marketing budget, a sleek invoicing interface and runs smoother than them. At a 1% or lower cut, I'm guessing it's not the most lucrative business absent significant volumes.

[QuestionAuthority]

I was one of the original purchasers of cupcakes at a San Francisco bakery that accepts bitcoins. I stopped in there not long ago and they told me almost no one buys with bitcoin anymore. I have to admit, I’m a little pissed at myself for using bitcoins there. At the ATH of btc the cupcakes I bought for a party cost about $37,000. 

Bitcoins are too valuable to waste them on purchases. They are better left as a trading and investment vehicle.

Spent Bitcoins should be replaced, immediately, or later if you expect the price to go down. I definitely understand that average joes aren't going to waste their time doing it, but I expected someone like you to replace that what's spent.

I probably spent thousands of dollars worth of Bitcoin last year on the way up, and I conveniently bought everything back on the way down. I'm not sure how the situation within your jurisdiction is, but I can spend coins without having to pay tax over them, regardless of the transaction value. It's a convenient way to lower my legal net worth without actually breaking any laws.

Oh, I agree with you but at that time I was sitting on 2000 btc and didn’t see the point.

[Kakmakr]

I can't believe that after all this time Bitpay is the only game in town, a company that is now Bitmain and BCwhatever's bitch and is not to far off actively hostile to Bitcoin. Coinbase have abdicated this area with their changes to how they treat merchants.

I wonder why they're not accepting ABC coins. BCH has been unavailable on Bitpay since the fork.

There's a few other competitors in town like Coingate and Coinpayments. The latter has pretty low fees at 0.5% too. But Bitpay has a much bigger brand and marketing budget, a sleek invoicing interface and runs smoother than them. At a 1% or lower cut, I'm guessing it's not the most lucrative business absent significant volumes.

Well, I opted to suggest the more well known companies in the industry, who has a large user base, so that is how it ended up suggesting BitPay. A business like his with such a turnover cannot go with companies with a "unknown' reputation. <even if they have lower fees>

I played it safe <or tried to> but they are very anal about KYC/AML regulations and this is going to be a problem. <He is running a legit "Brick n Mortar" business and he does not feel comfortable sharing all this personal information to get a higher level tier verification, to increase his trading limit.>