I used to be able to pay this online retailer in Bitcoin. If I remember correctly they used Coingate to process crypto transactions. Last week I went to make a purchase and found they had removed crypto as an option so I contacted them and told them I was disappointed I couldn't pay with Bitcoin anymore. This is the response I got:
> Hello Crizzo
> Thank you for reaching out to us, and I apologize for any inconvenience caused by the removal of the Bitcoin payment option. We understand your disappointment, and I'd like to provide some context.
> Back in 2014, we were excited about the possibilities of cyptocurrencies, including Bitcoin. At that time, we became one of the first major payments companies to support Bitcoin payments Our hope was that Bitcoin could serve as a decentralized substrate for online transactions, especially in regions with limited credit card penetration or high credit card fees.
> However, over the years, Bitcoin has evolved. Transaction confirmation times have increased, leading to higher failure rates for fiat-denominated transactions. Additionally, fees have risen significantly, making regular Bitcoin transactions as expensive as bank wires. As a result, the desire from our customers to accept Bitcoin has decreased, and revenues from Bitcoin transactions have declined.
> Given these challenges, we made the difficult decision to wind down support for Bitcoin payments. Despite this, we remain optimistic about cryptocurrencies overall. We continue to explore the crypto space
>If you have any further questions or need assistance with alternative payment methods, please don't hesitate to reach out. We appreciate your understanding and look forward to serving you in other ways.
> Kind regards
> Mike
This is from affect3D.com which is a store that sells 3D animated porn. I think he may be referring to the content creators that sell stuff in the store as the "customers" that don't want to accept Bitcoin, not the people who buy the content.
Anyway it's disappointing. #Bitcoin still has a long way to go before it can be used transactionally it seems. It's still the best SoV to ever exist at least.
Crizzo
npub1yt…7559s
2024-06-04 00:25:41
Author Public Key
npub1ytezax9qxku0l975e3x9kd8xtn8v4cjcgv8wefrtz7c7324m3f0qd7559sPublished at
2024-06-04 00:25:41Event JSON
{
"id": "729c23478d04cbf0389b7315d57748767c93d91c1533532370f712262cdcc67d",
"pubkey": "22f22e98a035b8ff97d4cc4c5b34e65ccecae258430eeca46b17b1e8aabb8a5e",
"created_at": 1717453541,
"kind": 1,
"tags": [
[
"t",
"Bitcoin"
],
[
"t",
"bitcoin"
],
[
"r",
"affect3D.com"
]
],
"content": "I used to be able to pay this online retailer in Bitcoin. If I remember correctly they used Coingate to process crypto transactions. Last week I went to make a purchase and found they had removed crypto as an option so I contacted them and told them I was disappointed I couldn't pay with Bitcoin anymore. This is the response I got:\n\n\u003e Hello Crizzo\n\n\u003e Thank you for reaching out to us, and I apologize for any inconvenience caused by the removal of the Bitcoin payment option. We understand your disappointment, and I'd like to provide some context.\n\n\u003e Back in 2014, we were excited about the possibilities of cyptocurrencies, including Bitcoin. At that time, we became one of the first major payments companies to support Bitcoin payments Our hope was that Bitcoin could serve as a decentralized substrate for online transactions, especially in regions with limited credit card penetration or high credit card fees.\n\n\u003e However, over the years, Bitcoin has evolved. Transaction confirmation times have increased, leading to higher failure rates for fiat-denominated transactions. Additionally, fees have risen significantly, making regular Bitcoin transactions as expensive as bank wires. As a result, the desire from our customers to accept Bitcoin has decreased, and revenues from Bitcoin transactions have declined.\n\n\u003e Given these challenges, we made the difficult decision to wind down support for Bitcoin payments. Despite this, we remain optimistic about cryptocurrencies overall. We continue to explore the crypto space\n\n\u003eIf you have any further questions or need assistance with alternative payment methods, please don't hesitate to reach out. We appreciate your understanding and look forward to serving you in other ways.\n\n\u003e Kind regards\n\n\u003e Mike\n\nThis is from affect3D.com which is a store that sells 3D animated porn. I think he may be referring to the content creators that sell stuff in the store as the \"customers\" that don't want to accept Bitcoin, not the people who buy the content. \n\nAnyway it's disappointing. #Bitcoin still has a long way to go before it can be used transactionally it seems. It's still the best SoV to ever exist at least. ",
"sig": "51cd21b957021b10636b7947bfa12c3dd3c9284b7a60ada324caf29d6a8dff8e5f13f1a3302d278444e3eba4db8bc2fc10b6df167138fe75665e7e058e817969"
}