Quote from: HobbzHobbleton on November 02, 2014, 12:37:31 AM

So, essentially bitpay only performs certain jobs that a full exchange does, and not the full spectrum. This argument brings us to a question.... What truly defines an "exchange"? Surely there are other sites and programs that provide more of the spectrum than others, yet many opf the ones that are lacking are still considered "exchanges". I mean technically isn't it an exchange by definition just by providing the possibility of purchasing goods and services for a currency? i mean there is an "exchange" happening in that equation.

BitPay's business model is govern by the laws of the US stating exactly what they can and can not do. Acting as a clearing house for BTC to fiat stemming from the sales of services or products is all they're allowed to do, where they even stated that they CAN NOT exchange BTC for fiat when a service or product is not part of the equation. Hell, even some bitcoiners got arrested doing the Local Bitcoins thing on the street. Since BitPay is in an office, does the exact same practice now make it legal? Of course not. And, we're not takin' several tens of grand here. We're talkin' millions within a 30 day period, easily over ten million over the course of the past year. This is a fact!

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