Bitcoin Microtransaction Advertisements Cause Issues for Some Bitcoin Websites
One of the newest advertisement method for Bitcoin companies is to send out free bitcoins to Bitcoin addresses, including those that belong to Bitcoin websites. It seems great; who doesn't love free money, right? However, it's been causing some problems for websites that require bitcoin deposits. See, these sites require confirmations on deposits. The bitcoin microtransaction advertisements generally don't confirm, either because the advertiser sends too little, or they aren't including the transaction fee. One website in particular that's having problems with these microtransactions is....
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Different payment processors have different opinions on the definition of a microtransaction, commonly known as a miniscule payment for a good or service. Small businesses in the US like to require that customers make at least a $10 transaction on a credit or debit card. That's because some processors charge more for smaller transactions in order to make money on every purchase. PayPal, for example, sets its fees higher when payments are below $12, which it considers a microtransaction. Paypal's normal rate is 2.9% + $0.30, while there is a higher 5% + $0.05 micropayments rate. Can it....