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Author Topic: Bitpay/Coinbase will replace Paypal/ViSA some day? BTC platform kicks out ebay?  (Read 4903 times)
bryant.coleman
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June 10, 2014, 05:38:44 AM
 #101

Tinfoil hat on, right ? All I see are green numbers both Paypal and Ebay. Just because vocal majority gets attention about some misusing seller protection doest mean 99% of trades are not working right.

Seller protection is a big thing, however more and more companies will rather return your money than loose that 100% or 99% status anyway .

OK... those who need the Buyer protection, they can stick with Paypal. I had a lot of previous bad experiences with them, so I have decided not to use Paypal anymore. Bitpay is good for me.

                               
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June 10, 2014, 07:30:31 AM
 #102

Bitpay could replace PayPal only if they start providing Buyer / Seller protection program.

Oh god! Stop this BS. The Paypal Buyer / Seller protection is being misused so much that many of the customers are stopping to accept the payments through Paypal. We don't need similar crap with Bitcoin.

As Ebay seller, yes, i know. I felt it on my skin few times. But even with that crap, buyer protection IS working in most cases, and it's attracting buyers. And where Buyers are, sellers must come. As simple as that. It's not like i can choose. I put my sell orders on 3-4 sites + Ebay/PayPal. Only place where i get buys is Ebay/PayPal. It's just where buyers are and they will stay there as long as they feel safe and will not move to another service if it feels even little bit less safer.
On another note, PayPal / Ebay has huge problem with Seller protection, not because they dont give a crap, but because they have credit card houses on their necks all the time. Buyer can start chargeback trough credit card house, and ther's nothing Ebay / Paypal can do to stop it so in 99% seller ends up with a loss.
If they start using Bitcoin, they will be ones that can really enforce rules, and maybe, just maybe, they could start protecting us sellers.
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June 10, 2014, 08:05:19 AM
 #103

Tinfoil hat on, right ? All I see are green numbers both Paypal and Ebay. Just because vocal majority gets attention about some misusing seller protection doest mean 99% of trades are not working right.

Seller protection is a big thing, however more and more companies will rather return your money than loose that 100% or 99% status anyway .

OK... those who need the Buyer protection, they can stick with Paypal. I had a lot of previous bad experiences with them, so I have decided not to use Paypal anymore. Bitpay is good for me.

Hopefully ebay will allow bitpay as an option but I suspect it will be an internal platform or paypal.

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June 10, 2014, 08:07:20 AM
 #104

Bitpay could replace PayPal only if they start providing Buyer / Seller protection program.

Oh god! Stop this BS. The Paypal Buyer / Seller protection is being misused so much that many of the customers are stopping to accept the payments through Paypal. We don't need similar crap with Bitcoin.

As Ebay seller, yes, i know. I felt it on my skin few times. But even with that crap, buyer protection IS working in most cases, and it's attracting buyers. And where Buyers are, sellers must come. As simple as that. It's not like i can choose. I put my sell orders on 3-4 sites + Ebay/PayPal. Only place where i get buys is Ebay/PayPal. It's just where buyers are and they will stay there as long as they feel safe and will not move to another service if it feels even little bit less safer.
On another note, PayPal / Ebay has huge problem with Seller protection, not because they dont give a crap, but because they have credit card houses on their necks all the time. Buyer can start chargeback trough credit card house, and ther's nothing Ebay / Paypal can do to stop it so in 99% seller ends up with a loss.
If they start using Bitcoin, they will be ones that can really enforce rules, and maybe, just maybe, they could start protecting us sellers.

Yes paypal is very good to buyer but not the seller especially on digital item , if ebay can take bitcoin as payment for digital and paypal for shipping i am sure it will all works well .
bryant.coleman
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June 10, 2014, 08:36:33 AM
 #105

This could be a sign of the things to come:

https://bitcointalk.org/index.php?topic=646664.0

A loss for Visa, and gain for Bitpay.  Grin

                               
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kjlimo
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June 10, 2014, 11:15:07 AM
 #106

Why cannot bitpay also process fiat? The procedure is just the reverse of processing bitcoin but uses bitcoin as the carrier of transactions? This requires no banks anywhere in the process and should thus also be of much lower cost.

Bitcoin is irreversible, so they can accept the bitcoin, convert to fiat, no problem... If Bitpay starts to accepts fiat payments, then they have to deal with all the garbage that comes with that... for example, how would they accept the fiat?  I doubt they want people mailing cash, which is why they would need to partner with a bank, Visa, paypal, etc. and boom, there's your 3-5% of fees again.

It's just not in Bitpay's business model.

Perhaps adding Visa's compliance officer will increase their interest in fiat currency, but I doubt it.

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xbit.in
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June 10, 2014, 11:29:12 AM
 #107

Bitpay is worst and not clear in its terms. I had signup for 1% transaction account with bit.
There is a link inside bitpay account " Raise your daily limit" . I click on that. They ask for verification. I though they want me to verify my identity to raise my daily limit.
I click on it and they upgraded my account to $30/ per month.
I contact their support and ask them to downgrade my account but they deny to downgrade. Finally i have to remove bitpay gateway from my website to avoid loosing $30 per month.

How fair it is a company accept upgrade but dont downgrade ?

Even they charge 0.01 BTC to transfer my earned bitcoin to my wallet including 1%

This is not clear way of doing business.

Here is my post regarding it https://bitcointalk.org/index.php?topic=641741.0;topicseen

bryant.coleman
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June 10, 2014, 12:08:28 PM
 #108

I click on it and they upgraded my account to $30/ per month.
I contact their support and ask them to downgrade my account but they deny to downgrade. Finally i have to remove bitpay gateway from my website to avoid loosing $30 per month.

May be there is a waiting period before you can remove the upgraded account. How much time did you had the upgraded account, before you requested them to cancel it?

                               
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bastilar
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June 10, 2014, 12:34:30 PM
 #109

The same mechanism used to convert bitcoin to fiat is the same exact mechanism used to do the reverse.

Ultimately, all financial services, at least here in the United States, must go through the federal reserve in one way or another.

And the fee is actually FREE. That's why "ACH" electronic payment is free, because you're going directly through the Federal Reserve. This is what all stock trading websites use, etc. It takes 3-5 days to clear. Dwolla is another payment service that uses ACH also, hence why their fees are 25 cents above any amount past $10 usd.

Coinbase uses something similar as well, that's how they convert btc to usd and back. So the "coinbase" fee they happen to charge is pitifully low compared to traditional credit card processors.

Bitpay has to do the same, and then charge whatever fee they see fit. Most greedy banks and credit card companies charge 3-5% because they have a monopoly on our financial system. But bitcoin is changing that. Thank god.

The one catch is, you must be regulated hard by the Federal reserve and all the banking regulations that come with it. Many companies opt not to deal with our strict financial laws.

Why cannot bitpay also process fiat? The procedure is just the reverse of processing bitcoin but uses bitcoin as the carrier of transactions? This requires no banks anywhere in the process and should thus also be of much lower cost.

Bitcoin is irreversible, so they can accept the bitcoin, convert to fiat, no problem... If Bitpay starts to accepts fiat payments, then they have to deal with all the garbage that comes with that... for example, how would they accept the fiat?  I doubt they want people mailing cash, which is why they would need to partner with a bank, Visa, paypal, etc. and boom, there's your 3-5% of fees again.

It's just not in Bitpay's business model.

Perhaps adding Visa's compliance officer will increase their interest in fiat currency, but I doubt it.

chaosPT
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June 10, 2014, 01:06:02 PM
 #110

The main point is still about Bitcoin Price , if the up and down are so much its very hard for merchant to sustain the price and product .
anujjain
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June 10, 2014, 01:31:52 PM
 #111

The main point is still about Bitcoin Price , if the up and down are so much its very hard for merchant to sustain the price and product .

Agree, Bitcoin will be stable for accepting more merchants.

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xbit.in
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June 10, 2014, 01:33:20 PM
 #112

AS I told i was that it was just for verification process I click their but soon i realise that it may be upgraded.
I immediately contact to their support and asked that was that upgrade request? if so then please ignore that i dont want to upgrade and leave my plan as it is.
their support team told me that they can ignore it and they have to upgrade it because it was confirmed by me.
LOL.
I replied back that again now i am confirming to downgrade but downgrade is now allowed because they loose $30 Fess for it  Shocked

Why? Bitpay dont allow downgrade plan? and only upgrade is allowed?

Answer me?


I click on it and they upgraded my account to $30/ per month.
I contact their support and ask them to downgrade my account but they deny to downgrade. Finally i have to remove bitpay gateway from my website to avoid loosing $30 per month.

May be there is a waiting period before you can remove the upgraded account. How much time did you had the upgraded account, before you requested them to cancel it?
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June 10, 2014, 02:03:41 PM
 #113

AS I told i was that it was just for verification process I click their but soon i realise that it may be upgraded.

OK.. got it. So you upgraded your account by mistake, and you immediately asked the support to undo that. They should have complied with the request, unless there is something against it written on their T&C.

                               
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xbit.in
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June 10, 2014, 02:15:24 PM
 #114


Yes exact.

But they did not undo and upgraded my account.

AS I told i was that it was just for verification process I click their but soon i realise that it may be upgraded.

OK.. got it. So you upgraded your account by mistake, and you immediately asked the support to undo that. They should have complied with the request, unless there is something against it written on their T&C.
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June 10, 2014, 02:20:14 PM
 #115

interesting charts about payment-fees.


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June 10, 2014, 03:24:52 PM
 #116

Western Union is pretty much on its way out. 

yup, not surprising. Theres literally no reason to ever use them due to better alternatives (like bitcoin). The fees are so high its only good for extreme need of sending cash right away if you cant get your hands on bitcoins.

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June 12, 2014, 08:53:03 AM
 #117

interesting charts about payment-fees.



Where does Western Union say free ?
Kind of curious what they meant by that

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June 12, 2014, 09:00:01 AM
 #118

interesting charts about payment-fees.



How could post office ever be free ?
murraypaul
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June 12, 2014, 09:07:18 AM
 #119

interesting charts about payment-fees.

Payment fees for what?
Transferring how much money, in what method, to where?
Without that information the chart is meaningless.
Transferring money from one UK bank account to another is free, so it can't mean that.

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June 12, 2014, 09:45:36 AM
 #120

It definetly will serve as a competition, but doubt it will kick pp and visa out.
You allways have sceptics, and rightfully , for the sole reason that bitcoin still needs to have some changes before stepping up in the market.

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