They have the option of allowing payments by alts. It is entirely possible that bitcoin just becomes a store of value, but purchasing stuff is done by an alt like doge or steem or litecoin.
Bitpay still don't accept other alts and those third party payment processors that accept alts are just exchanging those alts instantly to bitcoin and pay the merchants in bitcoin or in USD. Paying with doge and litecoin is still cheaper in terms of fee but newbie will always find difficult to use them due to lack of web wallets supporting those alts. 
Topic: Bitpay Raises Minimum Transaction Amount To Cope With Growing Bitcoin Fees (Read 465 times)
March 09, 2017, 11:48:38 PM
March 09, 2017, 10:37:32 PM
People will make less transactions and surely less online shopping, Bitpay may have its days numbered as bitcoin's utility decreases and is mostly used for speculation and store of value.
A predict this will also affect colored coins build on top of bitcoin.
A predict this will also affect colored coins build on top of bitcoin.
They have the option of allowing payments by alts. It is entirely possible that bitcoin just becomes a store of value, but purchasing stuff is done by an alt like doge or steem or litecoin.
March 09, 2017, 10:25:03 AM
People will make less transactions and surely less online shopping, Bitpay may have its days numbered as bitcoin's utility decreases and is mostly used for speculation and store of value.
A predict this will also affect colored coins build on top of bitcoin.
A predict this will also affect colored coins build on top of bitcoin.
They have the option of allowing payments by alts. It is entirely possible that bitcoin just becomes a store of value, but purchasing stuff is done by an alt like doge or steem or litecoin.
March 09, 2017, 10:07:14 AM
People will make less transactions and surely less online shopping, Bitpay may have its days numbered as bitcoin's utility decreases and is mostly used for speculation and store of value.
A predict this will also affect colored coins build on top of bitcoin.
A predict this will also affect colored coins build on top of bitcoin.
March 09, 2017, 09:51:54 AM
http://www.newsbtc.com/2017/03/09/41578/
Quote
Mounting bitcoin transaction fees make this payment method far less appealing as of late. Things have gotten so bad BitPay made some intriguing changes. As of today, the company charges a minimum transaction fee. This new invoice minimum is a direct response to the increasing cost of miner fees. Not a positive development for the bitcoin sector by any means.
...The decision by BitPay will receive a lot of criticism, though. The minimum invoice amount is now US$1 instead of US$0.04. In most cases, this will not make much of a difference. However, it sets a dangerous precedent for the future, Then again, with transaction fees rising, it will still cost US$2 to make the US$1 payment. Solving this transaction fee problem will be a different matter entirely, that much is certain.
BitPay refers to this decision as a result of fees having increased to bid for the limited supply of space per bitcoin block. While that is certainly true, it seems a solution is further away than before. With competing branches of development, no real progress is being made. Rather than trying to work together, both concepts continue to oppose each other. Until common ground is found, bitcoin fees will continue to mount at an accelerated pace.
...The decision by BitPay will receive a lot of criticism, though. The minimum invoice amount is now US$1 instead of US$0.04. In most cases, this will not make much of a difference. However, it sets a dangerous precedent for the future, Then again, with transaction fees rising, it will still cost US$2 to make the US$1 payment. Solving this transaction fee problem will be a different matter entirely, that much is certain.
BitPay refers to this decision as a result of fees having increased to bid for the limited supply of space per bitcoin block. While that is certainly true, it seems a solution is further away than before. With competing branches of development, no real progress is being made. Rather than trying to work together, both concepts continue to oppose each other. Until common ground is found, bitcoin fees will continue to mount at an accelerated pace.
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