Fiverr.com forced to remove BTC as a payment option due to high fees

chopstick

legendary

Activity: 992

Merit: 1000

Quote from: hardtime on March 08, 2017, 07:14:46 PM

This is also coming from r/btc so take it with a grain of salt based on the amount of moderation that goes on around their in order to push the narrative of BU being the only option that will be able to save bitcoin from the high fees that it's having an issue with now. Though, Fiverr removed this awhile ago and much longer ago than before Bitcoin was having this issue with the whole fees thing, so this is really just attempting to put a new spin on an old story.

Your point? You want to talk about moderation and censorship? Because we both know r/bitcoin takes the cake on that front. They literally remove hundreds of comments that are not in line with Core's BS

hardtime

sr. member

Activity: 490

Merit: 251

Make winning bets on sports with Sportsbet.io!

This is also coming from r/btc so take it with a grain of salt based on the amount of moderation that goes on around their in order to push the narrative of BU being the only option that will be able to save bitcoin from the high fees that it's having an issue with now. Though, Fiverr removed this awhile ago and much longer ago than before Bitcoin was having this issue with the whole fees thing, so this is really just attempting to put a new spin on an old story.

Quote from: unamis76 on March 08, 2017, 02:48:36 PM

If they did remove Bitcoin due to high fees, then there we have the result of our indecision... This would happen sooner or later. Let's see if anyone else does similar. Pretty sad to see it happening.

They didn't so, yeah.

Quote from: Slark on March 08, 2017, 02:29:33 PM

Bitcoin was used to be payment method on HumbleBunble.com and they removed it long time ago. When high fee problem wasn't even that apparent.
Fiverr might not like BTC for some reason and used current situation where we have problems with high fees as an excuse to validate their decision.
They could simply add additional fee (for customers) to help Fiverr mitigate expenses - it is still workaround but far better that removing BTC payments completely.

I think it was removed on Humblebundle due to people buying tons of the games anonymously and re-selling it, and they couldn't track it cause they couldn't only make it a one per purchase or something along those lines. I'll look for the posting done by HB on bitcoin, It's a google.com away.

unamis76

legendary

Activity: 1512

Merit: 1009

If they did remove Bitcoin due to high fees, then there we have the result of our indecision... This would happen sooner or later. Let's see if anyone else does similar. Pretty sad to see it happening.

Slark

legendary

Activity: 1862

Merit: 1004

Bitcoin was used to be payment method on HumbleBunble.com and they removed it long time ago. When high fee problem wasn't even that apparent.
Fiverr might not like BTC for some reason and used current situation where we have problems with high fees as an excuse to validate their decision.
They could simply add additional fee (for customers) to help Fiverr mitigate expenses - it is still workaround but far better that removing BTC payments completely.

Carlton Banks

legendary

Activity: 3430

Merit: 3074

Quote from: AngryDwarf on March 08, 2017, 01:45:09 PM

Quote from: franky1 on March 08, 2017, 01:27:15 PM

bitcoin 0.13 minrelay fee 0.00001000 ($0.0125c)
bitcoin 0.14 minrelay fee 0.00005000 ($0.06c)

and that is just to allow it to be relayed by other nodes, before even getting to the 'average fee' of the 'auction' bidding fee war of fighting for next in line..

goodbye third world countries wanting to be paid for an hours labour

with the fiat valuation increase of the last couple years you would have thought they would have dropped the minimum relay fee, not increase it.
seems all they care about is using economics to out price spam. and not actual code rules to reduce spam.

Mmm, cores attempt at strangle holding the market is not welcome news, and I find myself losing confidence in them faster by the day.

Increasing the relay minimum to 0.00005 should actually help the average fees.

0.00005 (5,000 satoshis) is much less than the average fee right now, and that means all low-fee spammy transactions will have to up their spammy fees to continue the spam effect.

You know what I'm losing confidence in, Dwarf? Your math and logic

AngryDwarf

sr. member

Activity: 476

Merit: 501

Quote from: franky1 on March 08, 2017, 01:27:15 PM

bitcoin 0.13 minrelay fee 0.00001000 ($0.0125c)
bitcoin 0.14 minrelay fee 0.00005000 ($0.06c)

and that is just to allow it to be relayed by other nodes, before even getting to the 'average fee' of the 'auction' bidding fee war of fighting for next in line..

goodbye third world countries wanting to be paid for an hours labour

with the fiat valuation increase of the last couple years you would have thought they would have dropped the minimum relay fee, not increase it.
seems all they care about is using economics to out price spam. and not actual code rules to reduce spam.

Mmm, cores attempt at strangle holding the market is not welcome news, and I find myself losing confidence in them faster by the day.

AngryDwarf

sr. member

Activity: 476

Merit: 501

Quote from: aoluain on March 08, 2017, 01:26:00 PM

Quote from: AngryDwarf on March 08, 2017, 01:03:04 PM

It's a shame to see bitcoin merchants dropping out of the market, rather than seeing greater bitcoin merchant acceptance. It's what gives utility value to BTC.

~~Most people seem to be getting excited about the ETF. This turns BTC into a pure speculation coin and that is only going to end up with disaster.~~

~~Some people trade FOREX. Foreign exchange is changing assets with utility value.~~

If BTC has no utility value, it's just a lot of electricity wasted mining 1's and 0's.

and in turn would this mean going forward that there would be less and less mining?

They'd switch them off and use them as warehouse heaters when required.

franky1

legendary

Activity: 4270

Merit: 4534

bitcoin 0.13 minrelay fee 0.00001000 ($0.0125c)
bitcoin 0.14 minrelay fee 0.00005000 ($0.06c)

and that is just to allow it to be relayed by other nodes, before even getting to the 'average fee' of the 'auction' bidding fee war of fighting for next in line..

goodbye third world countries wanting to be paid for an hours labour

with the fiat valuation increase of the last couple years you would have thought they would have dropped the minimum relay fee, not increase it.
seems all they care about is using economics to out price spam. and not actual code rules to reduce spam.

aoluain

legendary

Activity: 2282

Merit: 1268

Quote from: AngryDwarf on March 08, 2017, 01:03:04 PM

It's a shame to see bitcoin merchants dropping out of the market, rather than seeing greater bitcoin merchant acceptance. It's what gives utility value to BTC.

~~Most people seem to be getting excited about the ETF. This turns BTC into a pure speculation coin and that is only going to end up with disaster.~~

~~Some people trade FOREX. Foreign exchange is changing assets with utility value.~~

If BTC has no utility value, it's just a lot of electricity wasted mining 1's and 0's.

and in turn would this mean going forward that there would be less and less mining?

LittleBitFunny

full member

Activity: 1428

Merit: 129

The first decentralized crypto betting platform

I think that this will encourage miners to adopt SegWit. They might be enjoying the high fees but if people no longer think that people are going to actually use transactions and these sites start to pull out they might start thinking about adopting it because it creates urgency.

I'm fairly sure that sites like Fiverr are happy to have Bitcoin as a payment option, so it needs to occur to people that as soon as these problems are solved merchants will start adopting Bitcoin again.

The bulk of this is on Jihan Wu due to his huge monopoly on mining. The second he stops supporting BU against the will of most of the mining community, Bitcoin is back to its natural progression.

Ucy

sr. member

Activity: 2576

Merit: 401

Wonder what will happen if they revert back to usual stuff or is it simply greed?

BrewMaster

legendary

Activity: 2114

Merit: 1292

There is trouble abrewing

Quote from: pedrog on March 08, 2017, 11:54:15 AM

How many people were using bitcoin in Fiverr? Probably very few.

If they removed a payment method so quickly it's because it was irrelevant to their business, if it was relevant they'll use some alternative.

When bitcoin starts losing its utility you'll see it in the price, hint: it will not be an all time high. Cheesy

relevant to their business! that doesn't make sense. but one possibility might be because very few were using it. and usually services don't like having too many options. it is always better to keep the options limited to top used ones.

Vaccinus

sr. member

Activity: 406

Merit: 250

Quote from: AliceWonderMiscreations on March 08, 2017, 01:50:11 AM

Quote from: Kakmakr on March 08, 2017, 01:26:25 AM

Both parties could give a fuck about this. The Blockstream guys developed the Lightning Network in such a way that it can be used with any other coin, so if consensus is not reached with Bitcoin, they just join whomever wants to use it. The miners will do nothing, because they are milking the users for more fees and even adding to the problems by mining selectively around the problem.

Greed is killing Bitcoin's future. ^grrrrrrrrr^

Actually it seems to me that the miners want bigger blocks.

they need a consensus of over 75% for bu right? then why they simply go with unlimited bitcoin, and have bigger block, they are the one who command here if they all agree we can hard fork and have fee reduced by a lot, could help with what this business which have hard time accepting bitcoin

AngryDwarf

sr. member

Activity: 476

Merit: 501

It's a shame to see bitcoin merchants dropping out of the market, rather than seeing greater bitcoin merchant acceptance. It's what gives utility value to BTC.

Most people seem to be getting excited about the ETF. This turns BTC into a pure speculation coin and that is only going to end up with disaster.

Some people trade FOREX. Foreign exchange is changing assets with utility value.

If BTC has no utility value, it's just a lot of electricity wasted mining 1's and 0's.

Daniel91

legendary

Activity: 3374

Merit: 1824

It's bad news really but I can understand their viewpoint.
For clients is important to receive payment as fast as possible.
Currently, with low transaction fees, bitcoin transactions are very slow.
So, they had to chose either to wait more for transaction fees or to pay more for free.
Bitcoin also have some other problems like very changeable price etc.
It's obvious that bitcoin become to big problem for them.
I hope that other companies will not follow or we will have serious issue here.

NorrisK

legendary

Activity: 1946

Merit: 1007

Quote from: darklus123 on March 08, 2017, 12:20:06 PM

That is there decision to make. I my self seriously is also almost getting annoyed somehow of the high fees because it is actually affecting a business. Specially smaller type of business

The fees have become so big that it is not interesting anymore for any type of micro transactions and becoming less interesting for day to day transactions. Soon the only use will be to send large amount of bitcoins to countries with a different fiat currency. Otherwise, it simply can't compete with many of the costs.

Also, with bitcoin the cost is with the customer, while with other payment options, it often happens at the backend and the merchant is charged the fee.

pedrog

legendary

Activity: 2786

Merit: 1031

Quote from: dinofelis on March 08, 2017, 12:00:36 PM

Quote from: pedrog on March 08, 2017, 11:54:15 AM

How many people were using bitcoin in Fiverr? Probably very few.

If they removed a payment method so quickly it's because it was irrelevant to their business, if it was relevant they'll use some alternative.

When bitcoin starts losing its utility you'll see it in the price, hint: it will not be a all time high. Cheesy

Bitcoin's utility is not what makes its price. Greater-fool mining is.

I agree, it's speculators domain.

darklus123

hero member

Activity: 1246

Merit: 588

That is there decision to make. I my self seriously is also almost getting annoyed somehow of the high fees because it is actually affecting a business. Specially smaller type of business

dinofelis

hero member

Activity: 770

Merit: 629

Quote from: pedrog on March 08, 2017, 11:54:15 AM

How many people were using bitcoin in Fiverr? Probably very few.

If they removed a payment method so quickly it's because it was irrelevant to their business, if it was relevant they'll use some alternative.

When bitcoin starts losing its utility you'll see it in the price, hint: it will not be a all time high. Cheesy

Bitcoin's utility is not what makes its price. Greater-fool mining is.

pedrog

legendary

Activity: 2786

Merit: 1031

How many people were using bitcoin in Fiverr? Probably very few.

If they removed a payment method so quickly it's because it was irrelevant to their business, if it was relevant they'll use some alternative.

When bitcoin starts losing its utility you'll see it in the price, hint: it will not be an all time high. Cheesy

Topic: Fiverr.com forced to remove BTC as a payment option due to high fees (Read 1178 times)