BitPay to follow the chain with the greatest difficulty

BitPay makes a statement on SegWit2x claiming it is to follow the chain with the most accumulated difficulty
01 November 2017   1155

The largest Bitcoin payment processor in the world, BitPay, issues a statement confirming that in case of the SegWit2x hardfork the "services will follow the chain with the most accumulated difficulty".

The company argues that it does its best to continue to provide service on the Bitcoin blockchain. However, absent any further developments, BitPay recommends users' stopping using Bitcoin prior to block 494,784 and until the uncertainty is resolved.

As detailed, the services will suspend payment acceptance, payment disbursement and debit card reloads approximately 24 hours prior to activation of Segwit2x. 

In the event of a prolonged or permanent chain split, if the minority chain has significant market value, we will provide instructions to Copay and BitPay wallet users on how to safely access those coins. We will refer to the minority chain as BC1 (if Segwit2x is the majority) or BC2 (if Segwit2x is the minority). Beyond that, we have no plans to offer our services on the minority chain.
 

BitPay team

The company claims it will resume full support for the Bitcoin blockchain as soon as possible after the event.

American Cancer Society to Accept BTC Donations

BitPay, which helps the organization in providing this offer, had allocated $50M to Tony Hawke Foundation and the American Red Cross
25 December 2019   460

The American Cancer Society (ACS), a non-profit organization that sponsors cancer research, has begun accepting Bitcoin donations through BitPay.

Cancer affects people from all walks of life, so it’s not surprising that we draw support from a broad cross-section of donors. Our mission is urgent and in order to accomplish it, we need to engage donors where they are.

 

Brant Woodward

ACS exec

This is not the first time BitPay has collaborated with a charity. The payment operator made over $ 50 million in donations to organizations such as the Tony Hawke Foundation and the American Red Cross.

The average donation in bitcoins for these organizations is about $ 10,000, and the commission is only 1%, and a philanthropist can also pay it. In addition, cryptocurrency donations fall under charity laws and provide for tax deductions.

In accepting bitcoin donations, charitable organizations attract new donors without ever having to hold bitcoin. BitPay verifies the funds and accepts the bitcoin on behalf of the organization and settles the transaction in USD or the preferred fiat.

 

Stephen Pair

BitPay CEO