Topic: Bit-Pay.com / Super Boost for Bitcoin Economy - page 2. (Read 8210 times)

this is reasonable.  watched the video.  looks very promising.  thanks for providing a much needed service.

He brings up a good point that we didn't get time to explain on TV.  We basically have 2 options for paying our merchants:

1.  If you don't want anything to do with bitcoins and you want dollars sent to your bank account, like what happens with Paypal or credit cards, then bit-pay assumes the currency risk and the trading fees for the full amount of the order.  We do all of this as part of the package for the merchant that doesn't want to mess with bitcoins.  Our fees for everything in this case is 2.99%.

2.  If the merchant is fine taking bitcoins, we do offer a much lower fee for this, since we don't have any currency exchange or trading risks or costs.  If you'll take bitcoins, you can use all of bit-pay's services and the fees are 0.99%.

I spent a few hours last night updating my website to include the bit pay option just above my PayPal payment option upon checkout.

The code was fairly easy, my main time spent was duplicating all of the hooks in WordPress and the eShop plugin to duplicate what PayPal does, the final step of sending a POST to bitpay was the easy part.

But it is close to ready for prime-time after just a bit of work. Though I will probably update the eShop plugin to allow for viewing prices in Bitcoin or Dollars.

I see this as a fairly simple solution. When I first read about bitcoin I read that it is easy to accept bitcoin for your e-commerce site. Then I looked into how difficult it really is, you have to set up a bitcoin server to generate new addresses for each transaction to allow for tracking each transaction, set up the code to communicate between a secure server and your site, unless you completely trust your website host which is on someone else's machine, not to mention the whole thing of having a server out on the Internet with wallet files.

This is just about as easy as putting a button with a form on your page. Sure you have to pay a fee. But it is worth it to save a lot of headache.

And if my site starts making so much money that the fee is too much, then I can look into putting in the effort to build the solution myself and save the fee. And I am sure bit-pay will take that into consideration if high volume customers start dropping out. But for the average e-commerce site, this is a simple solution.

Jack I'm sorting through a couple dozen applications this morning.  send me a PM with the email you used to signup.

I did and I still wait for a reply!

All of our Documentation is inside the website.  You must apply, and be approved as a merchant, before you can view this.

If you are interested, please fill out the Merchant application on our website.  Thanks!

This is huge really

At the very least they are doing a service to community by offering solution for easy ways of accepting bitcoins everywhere else, and if their service succeeds even at slightest it can only drive value of bitcoin itself.

Oh...excuse me...I thought they were only routing the bitcoin invoice widget clickthrough from the merchants website through their servers to the end user, then collecting their share, and sending the payment off to the merchant, acting as a practically useless middleman.

I guess I should take another look at it. That's what I gained from the interview. Their POS system looks helpful with the Code and the android mobile phone. But they have a way to go before they are actually providing a real beneficial service for the cost they charge. Maybe I'm wrong, i'll look at it closer.

This is an excellent service. I think their fee is very reasonable. They're instantly cashing bitcoin payments out for merchants, thus eliminating volatility risk. For someone who's not well-acquainted with the bitcoin economy and doesn't have an account at an exchange, this makes bitcoins a lot more convenient.

create similar service and offer it for free. problem solved!

GREED!

if community too stupid to realize they are being ripped off, not saying it's true in this case, then such community deserves to be ripped off - my point is if people will find their fees outrageous, they simply won't signup to such service, don't you agree? so no need to scream and yell how unfair their cost is only because you don't agree with it.  I'm very positive these guys have many inquiries about their service and if its good and easy to use people will pay for it whatever it costs.  plus anyone else can challenge their service and fees with a new competitive service.  what is bad about that to be so outraged with?

You assume a whole bunch of baloney

your point is that everything must be offered free to you on a silver plate - we get it.

You have no slightest clue what it takes to run a business, have staff on payroll, do the support, be up and up on legal side, continue development, cover office expenses, do marketing and somehow grow and be profitable.    

take dwolla for instance they thought they could beat paypal with cheap transactions, they didn't have any clue about risks involved with fraud. guess what will happen next? if they want to stay in business they will up their fees.

before your can voice your opinion you should finish college at least. and since you didn't get it the first time: it's none of your business how others run their businesses.

They aren't running a serious business, YET. That's my point!

if you are free to complain about service that you are not going to use then i'm free to point out how stupid that is
healthy competition will set what is fair price for such service, not you complaining.  and btw running couple of sites does not equal running a service as a serious business. completely different costs. apples & oranges.

Use them then, and don't complain about people complaining.

its the same in my business..  some lowballs think i should charge 200 dollars for something but they expect weeks worth of full time work. lolz

if you don't agree with their fee structure, don't use them. simple as that.   who the f#$k are you to tell them what they should charge ?

i think you are misunderstanding their service and who they are really targeting, they introduce their service here, but they are going mainstream with it - at least it looks like that from where i'm sitting. their fee is fine imho.