Disgusting. We should petition the Exchanges that the Taker pays the fee.
Not the point I was making.
Right now, our 'market maker' friend is around $30K down on his investment.
Exactly the point. He was a taker, not a maker - he
took liquidity from the book. The result of this behavior is a huge spread - there were times when the spread was $20 today if you don't count some tiny orders. As long as the spread can be 5%, credit card payments are cheap in comparison, even with the help of Bitpay.