Post
Topic
Board Speculation
Re: BitPay is not Bitcoin....new merchants are accepting USD, not Bitcoin.
by
Manticore
on 24/04/2013, 16:53:17 UTC
They accept:

  • Lower fees
  • No chargebacks
  • More potential clients
  • Exposure to a huge community

Lower fees....debatable. We just moved from from $166+ to $157 in no time. That transaction just became 5%+ more expensive if I purchased @ $166, not including spread and BitPay transaction fees. Actually, while I'm writing this we are now at $153.....so much more expensive than any CC fee. This is the foreign exchange risk I'm talking about. $166 - $153 is almost 8% in a matter of minutes.....plus 1% for BitPay and 1% for the spread (now at 1.5% due to volatility).

So if I had bought a few minutes ago at $166 BTC for a transaction that just occurred, it would have cost 10%.......way higher than any credit card fee.

No chargebacks.....true.
More potential clients.....are you finding people that only use Bitcoin and not fiat???
Exposure to a huge community.....are you finding a community that exists entirely outside the fiat landscape???