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Author Topic: BitPay is slowly dying?  (Read 265 times)
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January 16, 2022, 09:48:06 PM
 #21

I went on a mini rant here about some things: https://bitcointalk.org/index.php?topic=5380215.msg58988849#msg58988849

But I really don't think it's because of BitPays advertising. It's because it allows merchants to take BTC and a few of the larger alts if they want and convert it into fiat in a quick and simple way. At the moment just about every business person is stressed to the max and they don't want to play around with exchanging BTC to fiat or anything else. They want to get paid and move on to the next thing they have to do. Yeah, BTCPay is great but if you don't have the time to convert to fiat and it's Friday and your staff wants to get paid and so on do you really want to deal with that.

I actually see that with a merchant I use (namesilo.com). They take BTC direct and BitPay for BTC and some alts. The BTC rate was better for me as the customer if I use the BitPay option then direct. I am guessing that the BitPay fee was less then corporate figured the cost of doing it themselves was.

-Dave
Converting crypto to fiat in easy way for merchants is very important thing, especially considering how unstable markets sometimes can be. Also, accepting altcoins is needed too, but not just BitPay have it. Most of centralised gateways have, for example Coinbase, Coingate or Coinpayments. But it feels that BitPay is first pick for most bussines.
I think that one of disadvantages of BTCPayServer is that you need to run a node to use it. It's not something difficult or expensive, but it's extra stuff for bussiness and they don't bother to do it, especially if crypto payment option isn't very popular on their store.

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January 16, 2022, 10:59:13 PM
 #22

Well, at least I don't use them anymore, so I believe that more people like me have stopped using them, maybe in 5 years they may go bankrupt, who knows. Anyway, the owners managed to get rich and I think that's what matters to them. they can go bankrupt and months or years later they come up with something else, the good of the rich and this one, they always have some new idea to enter the market

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