bitcoin transaction fees has put me out of business - page 8.

stompix

legendary

Activity: 2912

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Blackjack.fun

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

The only people who are currently benefiting from bitcoin transactions now are the miners, the transaction fees are insane,,

so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..

i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers

am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business

i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again

No offense but your "business" barely deserves this title.
What you did was being an intermediary for small purchases, nothing more and you closing down won't bring the gdp of your country down too.

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,

why do we keep suffering from problems who's solutions are already there??..

Funny how you are requesting something that would actually terminate your business model.
Asking merchants to accept more coins would trigger an effect of them accepting all kinds of payments, making your "service" useless.

Sorry, but when I read the title I thought it was something really severe, not a home run one man operation like this.

keithieY5

newbie

Activity: 50

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Most of altcoins starting last three years "ETH, bitcoincash" only litecoin is old.

so that you will find only sites accept bitcoin or litecoin less is ETH.

in future will find more accept it.

Shamie1002

full member

Activity: 406

Merit: 102

We are aware of bitcoins situation now a days. And we do hope for solutions. Lightning network is the only way provided and I think it is still on the move.
While such high fees and slow transactions, as a business man, you should now impractical using bitcoin today. And you should also know that depending on bitcoin alone or cryptos is very risky. You should have at least another way of mode of payments for your business and not taking chances with fees.
Bitcoins is proven and I think everything will be fine soon. Hang in there and think out of the box this time.

asonganyi

full member

Activity: 484

Merit: 105

Quote from: sparveenat on December 23, 2017, 03:08:14 AM

What I understand from the member in this forum we need to be patience and no need to panic. It all part of the game to be serious also what I understand also altcoin are not the solution for it we have to find the issue in deep to solve it nothing else we need to do which will be solved as soon as possible and everything will be all right.

i beg to differ with you there are so many situations that can not be addressed in bitcoin, thus the existence of alts is inevitable,

if btc is slow in solving some issues then why not use alts which have already solve them then we can letter come back to btc when it catches up if need be,,

we as users of tech should not be stagnant if something is not the best atm we move on to the best,, this puts dev to work and ensure quick developments

sparveenat

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★Bitvest.io★ Play Plinko or Invest!

What I understand from the member in this forum we need to be patience and no need to panic. It all part of the game to be serious also what I understand also altcoin are not the solution for it we have to find the issue in deep to solve it nothing else we need to do which will be solved as soon as possible and everything will be all right.

sunsilk

hero member

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Sorry for the inconvenience and disruption of your business but we can't help on that thing, all of us are in the same situation of our lives that we want something better.

And as you mentioned about merchants about acceptance of other alt coins, you can do it but it all depends on the terms that you will use through your service.

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

why do we keep suffering from problems who's solutions are already there??..

Lightning network is the solution for this, before success we need to experience struggling.

Herlina

full member

Activity: 406

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Decentralized Digital Billboards

Quote from: BitHodler on December 22, 2017, 09:09:34 PM

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,

why do we keep suffering from problems who's solutions are already there??..

Bitcoin is the most secure and widely used crypto currency, so it makes sense for merchants to just have Bitcoin as crypto checkout option. If you look around you, there are payment gateways accepting altcoins as well.

If you look a bit further, then you'll understand that Bitcoin in current times needs lightning network, and with how things go right now, we potentially might be utilizing its much needed features before the end of 2018.

Low fees, no need to worry about confirmations, ability to process an insane number of transactions per second, atomic swaps, better overall scalability, etc. Patience is what we need, but once active, alts will get hit badly.

I also agree that Bitcoin needs a lightning network to solve the current problem because confirmation of transactions can take days and High fees is very disturbing Bitcoin as a payment instrument

SFR10

legendary

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Crypto Swap Exchange

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..

The issue is, a business (of any kind) shouldn't rely on a single way in order to have a profit (should have solutions prior to possible issues).

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers

am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business

Perhaps you should look for a more flexible way (long term solution with less profit), something like buying those in bulk (based on their popularity) and hope you would sell everything in return.

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again

Here's some options since you mentioned all kinds of stuff:
https://www.overstock.com/ (accepts BTCitcoin and a lot of altcoins) http://fortune.com/2017/08/08/overstock-digital-currency/
https://bitify.com/ (accepts BTCitcoin and litecoin)

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,

In general, most merchants are biased when it comes to cryptocurrencies and takes a lot of time before they realize what their missing on.

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

why do we keep suffering from problems who's solutions are already there??..

Because the world we live in, isn't perfect.

Quote from: ?? on ??

yes it seems bitcoin has reached a stage where ur paying the same amount of transaction fee as the amount u are sending for small amounts, its better to move on to litecoin or bitcoincash where fee is relatively less

It's just a temporary phase...

asonganyi

full member

Activity: 484

Merit: 105

Quote from: BitHodler on December 22, 2017, 09:09:34 PM

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,

why do we keep suffering from problems who's solutions are already there??..

Bitcoin is the most secure and widely used crypto currency, so it makes sense for merchants to just have Bitcoin as crypto checkout option. If you look around you, there are payment gateways accepting altcoins as well.

If you look a bit further, then you'll understand that Bitcoin in current times needs lightning network, and with how things go right now, we potentially might be utilizing its much needed features before the end of 2018.

Low fees, no need to worry about confirmations, ability to process an insane number of transactions per second, atomic swaps, better overall scalability, etc. Patience is what we need, but once active, alts will get hit badly.

Thanks for the info sir!
is there any site where i can monitor the progress of the lightening network?

asonganyi

full member

Activity: 484

Merit: 105

Quote from: ?? on ??

yes it seems bitcoin has reached a stage where ur paying the same amount of transaction fee as the amount u are sending for small amounts, its better to move on to litecoin or bitcoincash where fee is relatively less

yes and this is making small businesses to go off,,

i would have love to switch to ltc or bch or any other alt which solves the present situation but merchant websites and people around me are not willing to change,,
i guess i just have to off business for now and wait till the lightening network is built..

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: asonganyi on December 22, 2017, 08:04:10 PM

my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,

why do we keep suffering from problems who's solutions are already there??..

Bitcoin is the most secure and widely used crypto currency, so it makes sense for merchants to just have Bitcoin as crypto checkout option. If you look around you, there are payment gateways accepting altcoins as well.

If you look a bit further, then you'll understand that Bitcoin in current times needs lightning network, and with how things go right now, we potentially might be utilizing its much needed features before the end of 2018.

Low fees, no need to worry about confirmations, ability to process an insane number of transactions per second, atomic swaps, better overall scalability, etc. Patience is what we need, but once active, alts will get hit badly.

asonganyi

full member

Activity: 484

Merit: 105

The only people who are currently benefiting from bitcoin transactions now are the miners, the transaction fees are insane,,

so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..

i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers

am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business

i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..

my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,

why do we keep suffering from problems who's solutions are already there??..

Topic: bitcoin transaction fees has put me out of business - page 8. (Read 1192 times)