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Transcript:
0:00:00 BitPay Downtime Leaves Customers Without Service for 2nd Day
0:00:04 This update is brought to you by "CoinCheckup News Updates" and was originally published on "BitcoinNews.com".
0:00:10 Many customers were left frustrated and annoyed as BitPay’s outage moved into a second day after being shut down for undisclosed reasons yesterday.
0:00:19 The payment processing service is receiving plenty of criticism from users today as those reliant on the company for payments and salaries were left without an answer after attempting to contact Bitpay’s Support portal.
0:00:30 Hello, our wallet development team is working on fixing an issue which is affecting outgoing transactions from our wallet.
0:00:37 We're sorry for the inconvenience and we will send an update as soon as this is resolved.
0:00:42 Thank you for your patience!
0:00:44 Unlike Bitcoin itself, services such as BitPay are centralized, which rather defeats the object of using Bitcoin for transactions if it then has to be funneled through an unreliable service which can even decide to veto a transaction if it wishes.
0:00:57 This again highlights the use of centralized transaction processors being used for decentralized currencies, begging the question, are companies such as Bitpay a good match for Bitcoin?
0:01:07 Currently, users are limited to using companies such as BitPay due to Bitcoin’s lack of public adoption and will in remain business only so long as cryptocurrencies display the volatility that this year has highlighted.
0:01:19 Many users hope that as Bitcoin becomes a more trusted means of payment other means to transfer funds will be introduced that are less liable to the kind of glitches that are currently just too frequent for frequent users of Bitcoin as a payment method.
0:01:32 Thanks for checking out this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: "BitcoinNews.com", who originally published this news update on their website.
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