He donated $100,000 in bitcoin to the Amazon Rainforest but was dismissed by BitPay.

The controversial cryptocurrency payment processor BitPay rejected a $100,000 donation to the Amazon Rainforest Charity.

Crypto

BitPay is caught in the regulatory vortex

The non-profit organization Amazon Watch (which is responsible for supporting the ecology and aborigines of the Amazon rainforest) revealed on Friday that the money was not approved by BitPay.

The charity said that due to the constant fire in the Amazon forest, the donor tried to donate cryptocurrency but could not complete the bitcoin payment.

1

Since Amazon Watch couldn't directly contact the donor, he called for BitPay on Twitter to ask for help.

The reason for the alleged rejection of the transaction was that Amazon Watch’s maximum payment limit was set at less than $100,000. BitPay is currently assisting the organization in receiving this payment.

Developer: Give up BitPay and choose to decentralize

This incident further aggravated the controversy of BitPay, which has caused dissatisfaction among some community members in recent years, including the promotion of Bitcoin Cash, indicating that it is a more attractive alternative to BTC, and its subversion to other subversives. Support for sexual ideas and technical issues led the company to lose several important customers.

Software engineer Alex Kaul realized that it was ironic to make third-party artificial restrictions on the open and decentralized bitcoin network, calling on Amazon Watch to abandon BitPay and switch to an open source alternative.

Last year, a similar situation led to the selection of BTCPay by US travel agent CheapAir.

This month, BitPay lost some users due to mandatory introduction of KYC and AML rules. The same thing happens with LocalBitcoins. The platform used to be the preferred P2P trading platform for the community, but it was resisted by community members because of the need for compliance.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

After FCoin's "incident", key figures from the team responded!

On the evening of February 12, an announcement on the FCoin Exchange regarding "the latest progress of system ma...

Blockchain

6 pictures tell you about the development status of the Asian cryptocurrency market

Author: cryptanalysis CoinGecko company co-founder Bobby Ong translation: block rhythm BlockBeats-HQ Recently, at the...

Blockchain

The head exchange spoiled, but who did not solve the Staking pain point?

It will seize more than 14% of the market share of the currency market, and the choice of the top 100 currencies of t...

Blockchain

What are the chances of decentralized exchanges completely replacing Binance and Coinbase?

This article will compare three common centralized trading features and contrast them with their decentralized coun...

Blockchain

"Black Horse" Exchange FTX Receives Liquid Value to Participate in Round B Investment, The Next Crypto Unicorn Is Coming Soon

The Hong Kong-based FTX exchange appears to be the latest unicorn cryptocurrency company with a valuation of $ 1 bill...

Blockchain

99% of the transaction volume is fraudulent, what is left behind the false prosperity of the currency circle?

The amount of trading fraud has been ridiculous for the people of the coin circle, but all along, there are always bl...