Topic: Bitcoin sucks! (Read 3251 times)

The words "Bitcoin" and "sucks" should never, ever be used in the same sentence - let alone side by side. Oh, the agony!

Your mistake was trying to accept Bitcoin yourself instead of using a merchant to process your Bitcoin payments. BitPay strictly uses BitStamp and they get their cash immediately, how? They keep a stockpile of Bitcoin and they are always selling old cheap Bitcoin at the higher price. The only way you can do it yourself is if you are a engineer with years of blockchain experience.

This fellow is just out of his mind. Blaming BTCs for your own mistakes and carelessness is such a cowardly act. Bitcoin has helped every single person who has ever invested in it. It is good to consider all the actions before babbling senseless crap about bitcoins, especially on this forum.

That's right, Bitpay was a good one for this situation. Besides, bitcoin is not suck sucks dude, your just saying due to you had a bad experienced when you transact unto it.

why is this even in this forum, if you think that bitcoin sucks. if you do not know how cryptocurrencies work,you need to study it further, you need experts in the field, just be sure that they are trustworthy. In the event of transactions that are making you loose money, you need first to have a very secured wallet, that you and only you knows the key. And when converting it to your fiat, make sure that they really do pay. I think we just need to make sure that our businesses are earning, but we must really be very in particular with the payment, if the the payment goes through to wallet, there is no problem with your wallet and the person that you made, but when you are going to convert your bitcoin to your fiat, make sure the company is trustworthy or try check out banks near your area if they exchange fiats to bitcoin, however if you already did a research, a littler more doesn't hurt. There are a lot of scam sites in the web,  we just really need to be more cautious when we exchange bitcoins to fiat, since there are people who are taking advantage of getting bitcoins from people who are just trying to earn. We can all learn a lesson from this, to always check our transactions and make sure that we only do it with trustworthy people. And also you must also understand the volatility of bitcoins, if you have a bitcoin now, and the value if 4000 USD, and after the transaction the value became 3000 USD, definitely you will be furious, but if the value goes up to 5000 USD after your transaction, i doubt you will say bitcoin suck, since the value of your bitcoin just went up and had given you more than what asked for.

Maybe you're too stupid or something. It's okay when people don't use bitcoin because they don't understand, instead of using it because someone just told them. And how come others don't have problems accepting it as payment.

Using bitcoin as payment method isn't good decision to make. The price is very volatile. It is always good to use a stable currency for buying or selling stuffs. And sometimes, bitcoin transaction will get a single confirmation after days, that will give another headache!

Bitcoin is an asset, not a currency!

The fault is not of bitcoin but it's yours. Before starting to accept bitcoin you should have assessed the pros and cons of accepting bitcoin as one of payment methods. There are still big businesses not in terms of fame but in terms of volume of the business they do with bitcoin, they are still accepting bitcoin and even altcoins and make good profit. The wisest thing they do is not sell bitcoin immediately but only when they think it would bring them more profits.

Bitpay can automatically convert bitcoins to dollars then deposit into your bank account. This is very useful for businesses purposes or Trading purposes. those who want to accept bitcoins,its further easy so no need to take tension about this. Just try to learn about this, It’s easy after getting know about it and then there is no risk to merchants.

You were smart enough to actually accept Bitcoin but not smart enough to use a payment processor mate, this is how a payment processor works.

You open an account with them and when someone buys from you they send Bitcoin to the processor and you just receive the dollars regardless

Of Bitcoin price. stop blaming Bitcoin because you couldn't use a payment processor. you are not actually accepting BTC you just say that you are.

To be honest, I would say it was actually your fault(unintentional though) that you made loss. Bad management system due lack of knowledge on how to handle payments when done through using bitcoins. But shit happens. You can try again, try taking help from the community on how to handle the payments properly.

You see here is the problem you are blaming Bitcoin with your own mistake, it is not Bitcoin's problem why its price or value change very often and you as an owner of a Business and Bitcoin must know when is the right time to sell your position in order to maximize your Bitcoin earnings. Also we all know by accepting Bitcoin you are also accepting its volatility is is not Bitcoin's fault like what I said earlier to your own mistakes.

That depends on what they were doing with their BTC. If they were exchanging it for a fiat currency right away, they probably were losing money too. But if they were holding at least until bitcoin was $50 of course they were in profit.

I am sorry for your loss and failed experiment with Bitcoin. I hope you find a better system of integrating Bitcoin in the future, but I do agree that Bitcoin is messy at the moment due to the scaling problem, which I hope improves after August the 1st.

I think you are not a wise investors. why would you sell your bitcoin at such a low price? why didn't you wait till its price pumped again before you sell it? if you should have waited more maybe you will be happy with the results.

If we sold something for 1 BTC yesterday and managed to exchange BTC into USD today we would lose at least 100 dollars. From about $2345 value it dropped in 8 - 10 hours to $2231. There is your answer. No business should be based on hopes and speculations that currency will jump up in day or two. Nobody can predict such movements with certainty.

Even more than few posters here said that BTC is not suitable to be form of payment but rather investment. That maybe correct so we are guilty of being enthusiastic enough not to believe that and think that BTC is perfect currency.

It accept Cash via Exchange Machines, QIWI, Webmoney, Yandex Money, Mail.ru Money, PayPal, Bank Transfer, SOFORT Banking, Paysafecard, Neosurf, Postepay, Paysafecard, Visa, MasterCard, Delta, Discover, JCB.
And there is too a BitPay exchanger/Payment processor.

All payouts there are in $.


BitPay is not BTC, and here are two sides of convienience for BTC paying customer.
Instead of be attracted of BTC label, he need check
 if the card issuer with electronic money inside have better exchande rate if product/service is payd via Mastercard/Visa.

What did you lose exactly and in what way? a hack? a loss of value? losing other customers?

Honestly, although bitcoin isn't the best interface for regular businesses, but I can't understand the way it costed your company hundreds of thousands of dollars.

i guess you have lack information how to run business using btc payment processing
many shop have been using BitPay to handle their btc payment processing

it is so dumb that you represent a website that is supposed to be accepting bitcoin as payment and yet you continuesly attack bitcoin as a currency! maybe your whole information about bitcoin comes from the fact that nobody ever uses your website so you concluded that bitcoin payments never happen anywhere else either