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BitPay delayed payments
Does anyone else using BitPay get a higher than expected number of delayed Payments? In the past 2-3 months easily been 25% of our payments have been significantly (2 - 48 hours) delayed.
It never used to happen, and honestly I am not even sure what factors contribute to this.
why even bitpay ? they probably take a few hours and buyvm had issues with them before.
I use and recommend blockchain.info , you can request an api key and do your own whmcs module or your own application.
I have no issues with bitpay normally payments i done within 1 hour or less once it's confirmed by all 10 networks you can also select to skip this but I don't recommend it.
just pay with bitcoin minutes ago, seems confirmations is slower took 5 minutes 3 confirmation
Although I mention BitPay, I confirm payments using blockchain.info. Last couple I watched were at 0 confirmations for quite a while before eventually getting confirmed.
Currently keeping an eye on one from ~1.5 hours ago at the moment. Has fee paid, is "Delayed".
BitPay (and a few others) are great for merchants who want/need fiat currency in their banks.
Alternatively check out stripe. Confirmations are usually very fast.
@tr1cky: as I understand it confirmations have nothing to do with the receiving platform. It is after all one network (Bitcoin confirmations).
Well, I haven't had significant delay on both stripe and bitpay, but I had some people trying double-spends.
Do you have your settings set to 6 confirmations? That would take some time anyway.
@tr1cky sounds like you run with a dangerous crowd. No double spends here in almost 3 years since we started accepting it. Just some very long confirmations.
I check all transactions within 3 days manually anyway as part of the book balancing.
Really I am just curious why some are just so delayed in getting any confirmations. They have paid fees, so shouldn't it be processed reasonably?
To avoid delays with Bitcoin payments, kindly attach little higher fee.
Fees of the last four payments:
I don't see a trend.
What client are you using to send Bitcoins? Because it doesn't depend of fees at all, it's also depends of size of transaction. If transaction size has more than 1024 bytes it needs more fee. I do recommend Electrum bitcoin client which never messed up with automatic fee calculations. I'm using it since years and each my transaction is getting new confirmation once the new block has been mined - that's perfect.
I'm not sending any. Those are clients (and largely different clients).
@splitlce set it to accept 0 conf transactions in your bitpay settings. There is little harm in that because if the transaction doesn't confirm eventually you can just suspend your user.
I've had a few in the past 2 months but I don't think we've ever had a transaction delayed more than 6 hours before.
It doesn't take that long to get an IP blacklisted. Once word gets around that you're not confirming your transactions you'll be in a world of headache.
I've had a few delayed for over a day, but I think that's a technical issue on their site.
Why not accept bitcoin directly?
Accepting 0 conf txs is the same as accepting payment via credit cards or paypal. In all 3 cases there is a slight chance of payment reversal. If a customer pays via CC or PP do you wait for the money to land in your bank account before you give the customer what he ordered? Just so you know Vultr accepts 0 conf transactions. They use bitpay too.
Hm, doesn't Stripe just use Coinbase to handle BTC? https://stripe.com/bitcoin/terms implies this is the case. Although Coinbase support is terrible, so I guess there are advantages to using it through Stripe.
Is the sender using/adding any fee? Or just letting it fly? I've only come across delays when sent with no fee
We've been noticing that too. Not sure if it's an issue with the Bitpay system or just that the blockchain has been getting busier recently. After it becomes "delayed", I think they manually process them which can sometimes take a lot of time.
Still like the Bitpay system in general, so haven't looked at an alternative yet.
This is the reason. They are working on a layer 2 to fix it but ATM it's a case of paying higher fees to get quicker confirmation. This is something the buyer has to do so all you can do is advise them to do so or accept 0 conf txs like I said above.
There is only one bitcoin blockchain so it doesn't matter what payment processor you use none of them have any control over it. That's why it's called a p2p system.
We had a few delays 6hrs+ some months back but they make up <1% of the total transactions, nothing recently.
We use bitpay and the maximum delay until now was 6 hours
Uh, of course it matters. We used to used Bitpay, but then they started switching their processor for Canadian bank transfers, and we ended up having to pay almost 5% in fees after accounting for wire transfer fees and other issues, even though they said nothing about stopping EFT payments. We asked them to at least update their transaction document to incorporate these fees (the document still claimed that it was an EFT transfer) so that we could maintain proper accounting, but they failed to correct the issue.
We ended up switching to Stripe since Coinbase failed to reply to our e-mails about account verification. But using Coinbase directly would be preferable since you don't have to deal with Bitcoin on top of Stripe's API, the integration is a bit clunky. This was my point.
Anyway, I didn't say anything about payment processors having a control of the blockchain, so I'm not sure why you brought that up, or why you think that implies that it doesn't matter what payment processor you use?
Most recent one took 10 hours.
Fiat Currency benefits. Its not the Area I am an expert in. Not going to develop something in-house when its available for near free.
I've only gotten about a dozen Bitcoin payments this month but I've never had any delay over 10 minutes. Security is medium.
While this is true, I've found that clients paying with bitcoin have a higher percentage of abuse and cause more problems than clients paying with credit card and PayPal (I am not saying that all clients paying with bitcoin are bad clients, I am just saying that based on the numbers there is a higher percentage of bad clients paying with bitcoin than with PayPal or credit card). If those same users found out we had our confirmations set to 0 they would cause us a much higher financial loss than they already do.
@KuJoe Thats funny because my experience is the exact opposite.
Perhaps I my stats are biased as a couple of our resellers use us to spend Bitcoin they receive. None the less, Paypal is far more costly.
With PayPal and credit cards we experience a "bad" user every 200 orders or so, bitcoin is about 1 in 50. This of course is only taking into account new clients.
And by costly I meant the amount of man hours invested into a user (i.e. cleaning up IPs, handling outbound DOS attacks, dealing with DMCA takedowns, dealing with phishing websites, dealing with blackmail, etc...).
@KuJoe, 1/200 wow
For anything at all its in the 1/thousands for us.
With PayPal I included Fraudulent payments. Those are plenty costly.