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I did accept them but the £1000 balance thing is less than ideal, still take straight BTC for LES though.
I didn't mention that Bitcoin should be the only payment method available. It's a nice option for both the customer and the seller, but then again it doesn't exclude other traditional services (PayPal, Skrill, etc).
What's that £1000 balance thing?
I guess. Digital currency is the future but BitCoin isn't here to stay and it's certainly not a drop-in replacement for a payment gateway that trades in globally recognised currencies. Plus all these sites accepting BitCoin are very early on in their lifetimes and haven't been hit by the regulations they eventually will yet.
PayPal is 16 years old, how do you know when CoinBase or BitPay are 16 they won't have similar protections to stay afloat or in line with regulations anyway? Just because the protocol doesn't allow for refunds doesn't mean your country of incorporation will agree and think you're not entitled to a refund.
That's the beauty of BitCoin: you don't have to use CoinBase or BitPay or any other gateway to accept payments. All you need is a wallet, you can generate a wallet per customer. You don't need any third parties at all: money goes from customer's wallet to yours, just like it would with cash. Once it's in your wallet you can trade it for services or you can use a localbitcoins type site to find people who can exchange it for cash or bank deposit. Either way, forcing you to give a refund is technically impossible, it may be legally possible, but by accepting BitCoin and not dealing with third parties there is no technical way to force you to refund payments.
I know how BitCoin works, when you don't use CoinBase or BitPay it's unlikely you'll get the exact same valuation when you cash out, that's what makes it so volatile.
It's not impossible to force a legal entity to refund a payment, it's impossible to reverse the transaction. They could in the future force you to send back an equal amount of coins, a cheque, a deposit into your bank of equal value, whatever.
It's not a drop in replacement or a payment gateway. PayPal uses currencies and money systems that are well established in law and society.
Nothing we can do im afraid
BitPay will only give you access to funds paid i.e. send to your bank when your balance is over £1000 which would be fine if that was the primary payment gateway but when using it only about 1% of people ever used it
Well, BitPay isn't the only Bitcoin payment gateway out there, thankfully. I've seen some providers use BIPS and Coinbase. I suggest you take a look at this list.
As I've already been complaining in this thread, those gateways are all bullocks unless you're an American company.
And now you don't have to worry about chargebacks but you do have to worry if some random company that deal in anonymous currency will up and leave or find it an unprofitable venture and disappear or whatever.
It probably won't be that rosy in the US for much longer either, a lot of exchanges already allow/disallow service based on state due to laws/impending laws/laws that people are trying to develop right now.
I don't ever worry about chargebacks, I sue / report for fraud customers that chargeback without a legitimate reason, and I haven't lost yet. [ Either PayPal decides in my favor and credits me, or PayPal decides that I've been targeted and funds it out of their pocket [ I'm pretty persuasive. ] ]
Fraud is 100% illegal in 90% of the world's countries, there's no need to side-step that.
As per my complaints, I'm saying the companies are bullocks because of the minimum withdrawal limits of $1,000 or EUR$1,000 etcetera; depending on your country. If you aren't a US company, you can't accept BitCoin without accepting that you'll literally never be paid out from your merchant account.
Since only 0.00001% of my customers pay in BitCoin, I will literally never get paid out.
I was adding to your point not countering it. Obviously from this thread you don't see BTC as the solution to rid of PayPal.
Nice to see you're still waving your legal dick around though I guess.
What, legal is the only question that people answer, everything else people just delete emails about nowadays. Diplomacy only gets you so far with spammers / hackers / script kiddies / etcetera.
So basically everybody is going to buy and use it for 170 days then chargeback. Wow paypal GG
When I'm logged out and attempt to load that link, PayPal forwards me to a login page.
No one ever sued anyone for $7 FACT!
As much fun as bitcoin is, probably one thing to keep in mind is that its a PITA to keep track of exchange rates for tax purposes. There's far less pushback from the authorities regarding exchange rates posted by Paypal versus something arbitrary from some random website that doesn't offer historical data.
That makes it pretty much a no-go at least from my end as a SMB looking for a supplier.
What provider won't stop accepting UK clients that uses paypal?
None of them if they wanna stay on the good side of the empire.
For Queen, Country and PayPal.
The daring will.