Topic: And another one stops accepting bitcoin payment (Read 396 times)
Well it can't be blame and we can't deny what is happening, it's true now Bitcoin is more suitable as asset than currency, but I think stripe is not giving up in crypto ,it's just that Bitcoin condition now is not fit for the requirements, once we can lower the transaction fee I think stripe could accept Bitcoin back
The fact that Bitcoin payments and holdings aren't covered by insurance is already a risk businesses or even individuals need to consider... I don't blame businesses that try to keep safe..
Yes Bitcoin is decentralized so you can't assure on that. In any business there's a risk so accept the fact that we can afford to lose our money. Bitcoin price is very volatile and fluctuating always because it's been manipulating by the government. I'm very possitive that bitcoin future will be more adopted!
when the price is going up everyone is gladly accepting bitcoin as payment method
not so much when price is going down
i wonder however how such payments are reflected in accounting books, taxes, profit, etc
all of those have to be calculated in national coin afaik
as the Matter of fact the reason why some of the company stop accepting bitcoin because the price now is always fluctuated and has a tend to be a worst time to ride the volatility of bitcoin. and for sure they will back to the business when the price soar again to the all time high value. .because of its good interest. not so much when price is going down
i wonder however how such payments are reflected in accounting books, taxes, profit, etc
all of those have to be calculated in national coin afaik
Stripe has announced that it is working on enabling BCH, ETH, LIC and Stellar. So it's dumping bitcoin but not giving up on crypto as a whole.
The reason why they stopped accepting bitcoin payments is because of the fee and slow confirmation but haven't they realized that the fees are quite good and transactions became faster now? They remain optimistic about cryptocurrency and just like the US gov't declared about bitcoin as an asset, they are also looking on it as an asset not a payment method anymore.Source; https://cointelegraph.com/news/payment-processor-stripe-ends-support-for-bitcoin-hypes-altcoins
It's only speeded up in the last few days. They don't know if this is temporary or permanent. On the other hand, they've seen fees rise from Jan 2017 to Dec 2017.
So they're erring on the side of caution and dumping bitcoin for other coins. It will be up to bitcoin to demonstrate low fees for at least a few months before anyone reconsiders and includes them as a payment option again.
Stripe has announced that it is working on enabling BCH, ETH, LIC and Stellar. So it's dumping bitcoin but not giving up on crypto as a whole.
The reason why they stopped accepting bitcoin payments is because of the fee and slow confirmation but haven't they realized that the fees are quite good and transactions became faster now? They remain optimistic about cryptocurrency and just like the US gov't declared about bitcoin as an asset, they are also looking on it as an asset not a payment method anymore.Source; https://cointelegraph.com/news/payment-processor-stripe-ends-support-for-bitcoin-hypes-altcoins
Stripe has announced that it is working on enabling BCH, ETH, LIC and Stellar. So it's dumping bitcoin but not giving up on crypto as a whole.
The reason why they stopped accepting bitcoin payments is because of the fee and slow confirmation but haven't they realized that the fees are quite good and transactions became faster now? They remain optimistic about cryptocurrency and just like the US gov't declared about bitcoin as an asset, they are also looking on it as an asset not a payment method anymore.Source; https://cointelegraph.com/news/payment-processor-stripe-ends-support-for-bitcoin-hypes-altcoins
All is correctly written in the article. Human greed has turned bitcoin into an asset for accumulation. This is very bad. This situation makes us all vulnerable. If tomorrow all the leading countries and the banks agree to block flow of money from the exchange of bitcoins for Fiat, we will witness the end of bitcoin.
How does greed turn bitcoin upside down,the network is not capable of accepting the amount of transaction they are getting and so is the reason the transaction charges are higher and unless we switch to lightning network we have to consume it as a form of investment rather than a currency to move the tokens around.Will the regulations stop bitcoin,i really do not think so but they might stop ICO funding. This doesn’t really signify anything negative about cryptocurrencies. The fact is that the fees are so high for Bitcoin that it is no longer practical to use it as a payment method, at least for small purchases. Bitcoin has become more of a store of value as the fees have gotten higher and the transaction times slower.
I think some altcoins will be more suited for use as a method of payment. There are many altcoins that have low to zero fees and faster transactions.
Stripe has announced that it is working on enabling BCH, ETH, LIC and Stellar. So it's dumping bitcoin but not giving up on crypto as a whole.
One among the experienced firm stopping bitcoin acceptance is a bad news to the cryptocurrency, because it has been serving from 2014 and has expected a lot from bitcoin. But, what's been happening has made them go with such a decision. These too will affect the growth of bitcoin.
Burger king also accepts BTC as payment
Of course not. Who is going to pay $60 fee for a $6 hamburger? Or wait hours to see if the payment even went through?
The fact that Bitcoin payments and holdings aren't covered by insurance is already a risk businesses or even individuals need to consider... I don't blame businesses that try to keep safe..
Well, unlike credit cards, Bitcoin does not have charge backs using which payment processors sting the merchants with fines on top of already lost funds. This is one of the primary reasons that many little merchants have started accepting Bitcoin because when an order does come through with Bitcoin payment, it can be processed as soon as the number of confirmations are met without any worry of fraud.
All is correctly written in the article. Human greed has turned bitcoin into an asset for accumulation. This is very bad. This situation makes us all vulnerable. If tomorrow all the leading countries and the banks agree to block flow of money from the exchange of bitcoins for Fiat, we will witness the end of bitcoin.
You got a good point there but but it is impossible for now. Also Bitcoin wouldn't meet it's end by banks merely trying to stop the flow of money from exchanges. There will always be loopholes that will allow people to use Bitcoin conveniently and by that time bitcoin will only have a low price. If this goes on, there will come a day that Bitcoin is not used as a currency anymore. 
And maybe people need reminding that Stripe is just a payment processor, not a merchant. And if you think that payment processors help merchants accept Bitcoin, no they don't. They actually help merchants resist using Bitcoin themselves, and still access customers who use Bitcoin. Bitcoin is supposed to be P2P. Not peer to payment processor to fiat to peer.
And for people who think still this means bad news, remember years ago when Paypal dropped Bitcoin? Did the world end? The more likely story is, Stripe is beginning to believe, like others, that as Bitcoin advances in tech, with LN especially, there's going to be fewer people willing to direct Bitcoin to processors and lose in exchange fees.
And for people who think still this means bad news, remember years ago when Paypal dropped Bitcoin? Did the world end? The more likely story is, Stripe is beginning to believe, like others, that as Bitcoin advances in tech, with LN especially, there's going to be fewer people willing to direct Bitcoin to processors and lose in exchange fees.
Fact of the matter is, support for BTC payment is dropping big time world wide. Also see: https://www.bloomberg.com/news/articles/2017-07-12/bitcoin-acceptance-among-retailers-is-low-and-getting-lower
Fact of the matter is, support for Bitcoin-supported payment processors is dropping big time, which is the underlying reason for these processors eventually dropping Bitcoin. Again, you have to see the difference between a merchant accepting Bitcoin and a merchant installing a payment processor that supports Bitcoin. These are not the same things. I think merchant adoption has always been low anyway, so there isn't a drop. As others have mentioned, a lot of merchants have been keen - but they've been waiting on the sidelines for a long time because:
1. They're not prepared to wait for confirmations. As I mentioned, very soon, widespread LN will solve this.
2. They're unfamiliar with the tech and training required for staff who handle transactions.
Of course payment processors like Stripe and Bitpay solves their problem, since they never need to accept Bitcoin to access Bitcoin users. But those who don't sign up are not prepared to pay the fees for using a processor like Stripe.
Burger king also accepts BTC as payment
Of course not. Who is going to pay $60 fee for a $6 hamburger? Or wait hours to see if the payment even went through?
The fact that Bitcoin payments and holdings aren't covered by insurance is already a risk businesses or even individuals need to consider... I don't blame businesses that try to keep safe..
Well, unlike credit cards, Bitcoin does not have charge backs using which payment processors sting the merchants with fines on top of already lost funds. This is one of the primary reasons that many little merchants have started accepting Bitcoin because when an order does come through with Bitcoin payment, it can be processed as soon as the number of confirmations are met without any worry of fraud.
This doesn’t really signify anything negative about cryptocurrencies. The fact is that the fees are so high for Bitcoin that it is no longer practical to use it as a payment method, at least for small purchases. Bitcoin has become more of a store of value as the fees have gotten higher and the transaction times slower.
I think some altcoins will be more suited for use as a method of payment. There are many altcoins that have low to zero fees and faster transactions.
Unfortunately most merchants don't take BTC.
They use services like bitpay or the above mentioned and they are paid in $.
Their books and balances have no trace of BTC
They use services like bitpay or the above mentioned and they are paid in $.
Their books and balances have no trace of BTC
that actually makes sense from accounting and legal point of view
and that's also the problem of BTC adoption
BTC and altcoins are more like stocks than currencies
Oh, my ..
So Stripe is not accepting BTC payments...
Unfortunately most merchants don't take BTC.
They use services like bitpay or the above mentioned and they are paid in $.
Their books and balances have no trace of BTC
So Stripe is not accepting BTC payments...
when the price is going up everyone is gladly accepting bitcoin as payment method
not so much when price is going down
i wonder however how such payments are reflected in accounting books, taxes, profit, etc
all of those have to be calculated in national coin afaik
not so much when price is going down
i wonder however how such payments are reflected in accounting books, taxes, profit, etc
all of those have to be calculated in national coin afaik
Unfortunately most merchants don't take BTC.
They use services like bitpay or the above mentioned and they are paid in $.
Their books and balances have no trace of BTC
when the price is going up everyone is gladly accepting bitcoin as payment method
not so much when price is going down
i wonder however how such payments are reflected in accounting books, taxes, profit, etc
all of those have to be calculated in national coin afaik
not so much when price is going down
i wonder however how such payments are reflected in accounting books, taxes, profit, etc
all of those have to be calculated in national coin afaik
Quote
Fewer online merchants wanted to accept the cryptocurrency, it added.
That's rich. If anything, I see a lot more merchants wanting to accept it. Not only online, but physical store merchants would like to as well, but there is currently no viable option for them to accept crypto without waiting forever. This will change.
SHORTY, there may be 10 who started accepting when one has stopped. Overall the adoption is growing, not reducing.
How's that SHORT going? Hard work having to spread FUD to keep it going?
Here are a few who do accept Bitcoin:
Subway
Newegg
CheapAir
Expedia
Reddit
Microsoft
Dynu
Bloomberg
Braintree
Rakutan
BTW, the mempool is improving which should improve transaction confirmation times and fees. In fact, if people would just start using Segwit capable wallet they can cut their fees in half and Coinbase is working on implementing Segwit to resolve transaction times/fees.
https://dedi.jochen-hoenicke.de/queue/#30d
How's that SHORT going? Hard work having to spread FUD to keep it going?
Here are a few who do accept Bitcoin:
Subway
Newegg
CheapAir
Expedia
Microsoft
Dynu
Bloomberg
Braintree
Rakutan
BTW, the mempool is improving which should improve transaction confirmation times and fees. In fact, if people would just start using Segwit capable wallet they can cut their fees in half and Coinbase is working on implementing Segwit to resolve transaction times/fees.
https://dedi.jochen-hoenicke.de/queue/#30d
I don't know about Newegg to be honest. They seem to have publicly stated they're accepting bitcoin but everytime when I go to the checkout and want to pay they're not showing an option for me to make a bitcoin deposit. This maybe due to me being an international customer but still.
All is correctly written in the article. Human greed has turned bitcoin into an asset for accumulation. This is very bad. This situation makes us all vulnerable. If tomorrow all the leading countries and the banks agree to block flow of money from the exchange of bitcoins for Fiat, we will witness the end of bitcoin.
This is not about human greed this is just how the economy works, before agriculture, an economy was almost unnecessary since most of the time they consumed everything they got, but once people discover agriculture they need a way to store value for the future, you could not eat all your grain or you will not have enough for the next season, and money is the representation of the value of the economy, so it is completely natural that people store money. Jump to: