Algorand, however, is a pure " proof of stake" protocol whereas all three of the previously-described functions are achievable in verifying blockchain transactions. (scalability, security and decentralization). That's what brings me to the main topic here: Algorand.Īlgorand is a blockchain protocol (The Algorand Protocol) that solves a problem referred to as the " blockchain trilemma." Blockchain trilemma can be easily understood as a scenario where there are three total goals and only two goals can be accomplished at the same time. It goes without saying that due diligence and proper vetting must be done. This means serious financial opportunity for all. The way I see it, each major player entering the Cryptocurrency space creates a "space race" to see who can achieve success first in this paradigm shift. Keep in mind that Visa and PayPal have already been in the crypto space and working with popular wallets like Coinbase and others. In further MasterCard news two days later, () we saw an announcement that Apple Pay users would be able to, effective immediately, add their BitPay prepaid MasterCards to their Apple Wallets for online and in-store payments.(4,5) I will come back to why this is important. However, MasterCard does specifically mention stablecoins ("cryptocurrencies that attempt to peg their market value to some external reference(2) - such as the USD" as the implementation they "expect to bring into network"(3). Two days later () we saw MasterCard announce that in 2021, they will "start supporting select cryptocurrencies directly on network." They do admit that this will be a process requiring regulation and research to ensure MasterCard's compliance measures are met. Just one week preceding this post () we saw Tesla add $1.5 Billion of Bitcoin to their balance sheet and announce that they will begin accepting bitcoin (and other cryptos) as payment.(1) Update: STILL no response from bitpay tried contacting multiple times no response I do not recommend dealing with them because it takes 5 to 6 months to get a response from them and when they do respond it has nothing to with your issue and then you wait another 5 to 6 months crazy.There's no ignoring the rapid advancement and public acceptance of Decentralized Finance (DeFi) and Cryptocurrency. I find it amazing how they responded to certain reviews but not all mainly the ones with missing money. People shouldn't have to write a review to get a response from bitpay. Sent proof of payment to my wallet to bitpay more than five times their first response was month later and had nothing to do with my issue and I haven't heard from them since it should be illegal for them to deal with crypto or any type of currency with this type of customer service. I had a lump sum sent to my wallet 12-02-2022 after that payment was made to my wallet everything was erased my Simplex payment history everything luckily I downloaded all my blocks information. NO RESPONSE TO MISSING MONEY.Bitpay is horrible not trust worthy at…īitpay is horrible not trust worthy at all. The crypto space needs better companies than this. I don't really care about the $71 to be honest, it's just sad to see this kind of practice. It's either incompetence or just scam - judging by the enormous amount of bad reviews I think the later. Despite the clear evidence that my wallet address has not received any funds (they can simply look at it through polygonscan but refuse to), the company stubbornly insists that they have already issued a refund. ![]() When I questioned their lack of follow-through, their support team provided false information with a couple links for their block explorer that didn't work and then had the audacity to send me a link to my own transaction on Polygonscan (dated December 23rd), claiming it was the refund. ![]() Despite confirming that they would be issuing a refund of ~$71 in USDC to my Polygon (MATIC) wallet address, the refund never materialized. I was supposed to receive a refund of ~$71. I am extremely disappointed with the support provided by BitPay.
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