This is a really good infographic. I'm not going to look into the details of it and check the information, I'd rather enjoy it. We definitely need more of these instead of the everyday FUD that some people are trying to spread. It's nice to see that Bitcoin is slowly moving towards its goal.
I'm amazed at the ~$8M fees that would have been paid if credit cards were used. I think it would be useful if someone calculated an estimate of how much way paid in fees using Bitcoin. I guess some people don't see the huge difference between those numbers.
I'm amazed at the ~$8M fees that would have been paid if credit cards were used. I think it would be useful if someone calculated an estimate of how much way paid in fees using Bitcoin. I guess some people don't see the huge difference between those numbers.
Good question.I checked Bitpay's terms of use and found this...
Quote
We do not charge a processing fee on transactions in our Free payment processing plan. We do charge a service fee for merchants who have selected our Business or Enterprise plans (“Plan Fees”). Merchants paying Plan Fees will have these fees offset against their applicable ledger balances on a monthly basis. We reserve the right to change our fee structure and pricing. Your continued use of the Services after we notify you of any changes in our fees constitutes your acceptance of such change. Current pricing information is provided on the BitPay website at https://bitpay.com/pricing.
So we don't know how many merchants use the "Free payment processing plan" or the "Business or Enterprise plans " and how much is the fee for the last two.
If we would just calculate with an average of 1% the total sum for fees would be $2,663,750. This is a very speculative calculation as I said I don't have any exact numbers. If anyone has please let us know.
