Coinbase Double Charges Explained
Visa was quick to blame Coinbase for the issues that occurred this week for individuals who were making purchases on Coinbase and coming to the dreaded realization that their payments had doubled.
But it seems that the truth is Coinbase had made some changes to the code involving how the payments were processed.
This change had caused Visa to ultimately recharge the transactions.
Since then they are saying that most of the double charges have been credited back to the affected individuals.
If you’re still waiting to see these changes reflected in your account, you definitely should contact your bank that is associated with your card to receive your refund.
LitePay & LitePal
Now shifting over to Litecoin.
This week they launched their LitePay card which will allow Litecoin to be accepted anywhere Visa is accepted. The conversion will occur instantly at the time of sale and there will be a 1% settlement fee for the users.
LitePay is boasting this super low fee and fast transactions to differentiate itself from competitors like BitPay.
The team behind Litecoin is also developing what their calling LitePal, which will be a payment processor that users will be able to use in conjunction with PayPal, Western Union, Bitcoin and Litecoin. Again the fees with this service will be very low as well.
Since Bitcoin is nearly always the first to be recognized and accepted by merchants, it’s delayed transactions and higher fees might turn them off.
Now that Litecoin is addressing this issue hopefully this will help to open merchant’s eyes to the possibilities of accepting other alt coins as well.
Ethereum's New Fund: ECF
The Ethereum Community Fund, or ECF was developed to help deliver on the promises made by some of the ICOs and ultimately facilitate the progress of Ethereum’s ecosystem.
Vitalik Buterin hinted at this effort when he decided to allocate his shares from advising certain ICO projects and placing them into a private fund meant to help finance open-source projects on the Ethereum Network.
He did make the assertion that this private fund will only be available for entirely open-source projects that don’t have any kind of profit schemes, and he’ll be partial for those that are addressing scalability. We’re going to have to assume at this point that these same guidelines will apply for the ECF.
I do think it’s great that he’s staying true to his philosophy for how crypto projects should be.
But with this amount of money, I expect that the stakes are rising even higher for the development and success of the Ethereum Network.
The problem that I see is that any coin that becomes the main utility coin will soon suffer the same fate as BTC. Over used and under powered.
Excellent update Heidi! I’ve been saying for years that litecoin is the safest high upside play in crypto. There’s absolutely zero reason why it should only be worth 2% of bitcoin.
Litecoin has all been seen as a testnet for bitcoin, personally I like crypto for it's value as money and now with litepay we can actually use it everywhere! The revolution may not be televised, but it will be cryptosized.
Definitely something anyone who gets past the point of owning BTC should acquire.
As for Visa, though, it appears to be entirely Visa's issue. Whatevs.
Another upvote for another great video! Keep up the great work!
Thanx for cleaning thing up!
Thank you, thank you. You are the best. Thanks for the updates. I love you lovely picture and outline of your post. It is right on. I wish I had something like yours. Do you know anyone that would make my post look better and maybe add my ugly mug. Haha. I would be interested in paying someone that you could recommend.
Thanks
dubloon135
Nice post,thank you.
Heidi, I have followed you since I joined ages ago. I have always been impressed with your breadth of knowledge and experience not just in crypto, but in life travels and ordinary stuff. You always add so much to this platform. Good on 'ya!
Thank you @littlescribe, that means a lot to me :) I hope you are doing well!
I am. I don't know where you get all your crypto knowledge. Did you start out already familiar with it, or did you gain it as you go?
Thank you for the updates 👍🏻
Friends, you look very beautiful. I love you very much. To improve all of us by making updates on the curriculum. Everyone likes you. I liked the people. I liked the people. I thanked a lot. Thank you very much for sharing your important post.
This was oddly charming and heart-warming.
Thank you. I really love to smile people. I do not want to wake up. I love friends. I mean that everyone
:)
Thank you very much, you really are a lot better you like me a lot
I've followed you and added you to my UBI, keep writing heartfelt comments and posts, friend. Also, I don't know any other advice for now other than keep trying, and maybe you can post using the zappl app, they often give votes to lots of people and it's a way to make a few SBD here and there. Take care.
I do not really know the rules. Do you cooperate for me to work
Inb4 the litepay card quintuple charges you when you make a purchase a la coinbase, lol.
Money in the hand seems to be the death of innovation, imo. I've rarely seen teams become more hungry after getting their first large cash injections, if anything it seems to slow development to a crawl if the team knows they can get continuous payments from a trickle of github changes.
exhilarated & exceptional!
Litepay and Litepal are the future!
Great & useful post. Thanks!
Thanks for the news. News matters !
Have you made any posts about Litecoin Cash? Or do you not consider it to be a valued crypto?
Don't hold your breath for it to become worthwhile. Go for the original LTC.
Still not sure how the fork isn't just for the sake of forking...
Thanks for your work and the informations!!
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