BIPS - Bitcoin payment portal- Is this a joke? Fees are more than normal banking

[gtraah]

Ok So we all like to use BTC when we can right? We say to ourselves its much better than using the banking system, less fees, no exchange rates etc...

Now check this out - I was buying some mining hardware and there were 4 options - BTC (Bips), Credit/Debit, Bank transfer & paypal

Do you want to know what the most expensive option was? BIPS!! actually I didnt try Paypal but I dont think paypal is this much >>>  Order was around 5k anyway I checked the current exchange rate for BTC at all the major places and they were all pretty much the same... ANyway the amount of BTC BIPS wanted me to send came out to be almost $200 more than the actual order was worth, It only costs me $20 to do a bank transfer as I need to use there currency converter so I did this, but can you believe this? Why on earth would I want to spend $200 more just to use BTC, With that $200 I saved I can then buy more BTC

What are your thoughts on this, isn't this as bad if not worse than paypal MINUS the chargebacks, infact for a buyer a chargeback isn't so bad , its only bad for the sellers, if we are trying to get BTC mainstream and someone witnessed this, they'd literally laugh. What an embarrassment, I actually prefered to use the banking system rather than my BTC because the fee's were too high. How FKN ironic is this!!

[1715206587]

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[1715206587]

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[Dajve]

Yeah, that's very weird. Normally I find Paypal is the most expensive option as they add a little extra on top to cover fees. You should mail them and ask why it's so much more.

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[franky1]

bips are office dwellers, all they want is guaranteed income. they dont care about promoting bitcoin or going to meetings.. if the merchant doesn't come to them, they don't bother. they prefer to charge more to get more monthly income from a small client bas, rather than increase client base to offer discounts whilst still profiting.

stick with bitpay/coinbase. many merchants i know didnt feel comfortable with bips. and when i told bips about a few merchants they should look into and establish business relations with (multinationals) bips didnt even care

[gtraah]

i hope they Fk off out of this industry we dont need them, id rather use my bank then them

[Icardi09]

bips are office dwellers, all they want is guaranteed income. they dont care about promoting bitcoin or going to meetings.. if the merchant doesn't come to them, they don't bother. they prefer to charge more to get more monthly income from a small client bas, rather than increase client base to offer discounts whilst still profiting.

stick with bitpay/coinbase. many merchants i know didnt feel comfortable with bips. and when i told bips about a few merchants they should look into and establish business relations with (multinationals) bips didnt even care

how come such company still exist until now?
if they charge high fee for merchant, i'm sure the merchant will abandon them

[Meuh6879]

how come such company still exist until now?

because high fee need no identity for small amount.
virwox do the same thing ... and it's a reliable company.

[franky1]

how come such company still exist until now?

because high fee need no identity for small amount.
virwox do the same thing ... and it's a reliable company.

exactly, their business model is not for high yield large transactions. its for small, loyal and constant flow of low amounts..

its like the drug market you see on TV. street dealers could make millions by becoming high end national suppliers and taking a small cut from th wholesale price knowing the millions of drugs they supply down the chain will give them mega amounts of income without having to charge high premiums... but instead they are lazy, charging loyal customers high prices for not much, purely because its a reliable no questions asked source.. and gets a steady guaranteed income.

in bips and drug dealers cases, there is no ambition to expand world wide, they just want to own their little bit of territory and get a regular flow of income..

[lihuajkl]

i hope they Fk off out of this industry we dont need them, id rather use my bank then them

we shoud get rid of B ips who charge high fee to customers. With the result that the customers who use their service have bad impression that using BTC charge highest fee.

[Meuh6879]

this "customers" want to make profit with FIAT/BTC change ... but the final goal is to buy thing with BTC only.
i admit that the first step (profit) is necessary in this world to have a media exposition.

if they want make profit, then they use exchange with full name identification (and tracfin/fintract process at the end of the year with taxes).

[franky1]

i hope they Fk off out of this industry we dont need them, id rather use my bank then them

we shoud get rid of B ips who charge high fee to customers. With the result that the customers who use their service have bad impression that using BTC charge highest fee.

you cant simply get rid of them, but you can certainly avoid them, not advertise/promote them, warn people of them, and ofcourse promote better competitive services..

leave them to their small little territory, like a small spider, moth or fly sitting in the corner of your room.. and concentrate on looking after the better things in life... let nature take its course and they will move on if they starve

[commandrix]

Everybody be sure to promote Bitpay, Coinpayments,net, ANYBODY who has more reasonable fees than these guys. They're just the kind of leeches that might, maybe, attract a few people who are brand-new to Bitcoin and BIPS are the first guys they see. But that won't last when they see that there are better options out there.