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Editorialized title that omits the key role BitPay's policies played and blames this on Bitcoin's network fees. BitPay's policy of failing transactions if they
by makomk 9y ago
Editorialized title that omits the key role BitPay's policies played and blames this on Bitcoin's network fees. BitPay's policy of failing transactions if they don't confirm within 15 minutes has always been broken, because even if the transaction gets into the next block there's a reasonable chance (about 25%, I think) that no block will be mined within the next 15 minutes.
- sillysaurus3 9y agoThe customer doesn't care whose fault it is. All they know is they lost $10 when trying to use BTC as cash.
- Trundle 9y ago"Due to Bitcoin network fees"
- makomk 9y agoMaybe not to the customer, but it matters in general because Bitpay and others are pushing Bitcoin Cash as a solution to this on the basis that it has lower fees because of its bigger block size (also because no-one is using it, so the blocks are almost always far below the Bitcoin block size). They likely stiffed him on the transaction fees for the return transaction too; the Bitcoin client's recommended fees are already on the conservative side, and they charged more.
- Dylan16807 9y ago> The customer doesn't care whose fault it is. That's usually used as justification for the customer blaming the company they were doing business with. (Which makes a lot of sense; it's that company's job to insulate the customer.) Weird to see you using it the opposite way.
- Lazare 9y agoActually the main reason they lost $10 would seem to be the fact they transferred the wrong amount of BTC.