They accept it because they want to follow the changes of digitalization, most of they company was improve and they want to change all matter that they want to used. So even bigger company wants to do it, by simply using bitcoin and other crypto currencies.
They want to follow the changes happen because they want to know that even their company were having changes and improvement.
Topic: Why do big corporations accept BTC? - page 19. (Read 2060 times)
Hi there,
first off - @admin, I´m not sure if this is the right forum category, so please shift if unadequate!
I wanted to know why big companies like Microsoft, Paypal, Overstock and now consulting firms (with PwC HKK) accept BTC as a payment method? Regarding the latter, it´s due to increasing cooperations with start-ups that operate with BTC as main payment, but regarding the others?
From my point of view, companies with sizes like the above mentioned (refering to cash flows and generated income) are normally risk averse and therefore it seems counter intuitive to me to accept BTC as a payment method due to its heavy volatility.
Moreover, not knowing how regulation might influence the outcome for BTC is another argument for not accepting it?!
This leaves me with only one (rather) simple solution, which is that they are convinced of BTC price rises (in the short-term at least), or even a bit more fare-fetched that they are convinced of BTC as "the new digital currency" or similar.
But that´s not plausible for me!
Does somebody know how much BTC Microsoft or the others generate with the exchange of fiat to BTC and vice-versa?
Can someone please help me out, it´s really grinding my gears Huh Huh
Thanks a lot Smiley
first off - @admin, I´m not sure if this is the right forum category, so please shift if unadequate!
I wanted to know why big companies like Microsoft, Paypal, Overstock and now consulting firms (with PwC HKK) accept BTC as a payment method? Regarding the latter, it´s due to increasing cooperations with start-ups that operate with BTC as main payment, but regarding the others?
From my point of view, companies with sizes like the above mentioned (refering to cash flows and generated income) are normally risk averse and therefore it seems counter intuitive to me to accept BTC as a payment method due to its heavy volatility.
Moreover, not knowing how regulation might influence the outcome for BTC is another argument for not accepting it?!
This leaves me with only one (rather) simple solution, which is that they are convinced of BTC price rises (in the short-term at least), or even a bit more fare-fetched that they are convinced of BTC as "the new digital currency" or similar.
But that´s not plausible for me!
Does somebody know how much BTC Microsoft or the others generate with the exchange of fiat to BTC and vice-versa?
Can someone please help me out, it´s really grinding my gears Huh Huh
Thanks a lot Smiley
they see value in BTC
Big companies accept Bitcoin because this is the trend. In business should be aware of the latest trend so that you are always one step ahead of your competitors. Besides that big companies have big capitals that they can influence the cryptocurrency world.
Following the way of corporate investors, they have started to move from cartal currency to digital currency
Hi there,
first off - @admin, I´m not sure if this is the right forum category, so please shift if unadequate!
I wanted to know why big companies like Microsoft, Paypal, Overstock and now consulting firms (with PwC HKK) accept BTC as a payment method? Regarding the latter, it´s due to increasing cooperations with start-ups that operate with BTC as main payment, but regarding the others?
From my point of view, companies with sizes like the above mentioned (refering to cash flows and generated income) are normally risk averse and therefore it seems counter intuitive to me to accept BTC as a payment method due to its heavy volatility.
Moreover, not knowing how regulation might influence the outcome for BTC is another argument for not accepting it?!
This leaves me with only one (rather) simple solution, which is that they are convinced of BTC price rises (in the short-term at least), or even a bit more fare-fetched that they are convinced of BTC as "the new digital currency" or similar.
But that´s not plausible for me!
Does somebody know how much BTC Microsoft or the others generate with the exchange of fiat to BTC and vice-versa?
Can someone please help me out, it´s really grinding my gears Huh Huh
Thanks a lot Smiley
first off - @admin, I´m not sure if this is the right forum category, so please shift if unadequate!
I wanted to know why big companies like Microsoft, Paypal, Overstock and now consulting firms (with PwC HKK) accept BTC as a payment method? Regarding the latter, it´s due to increasing cooperations with start-ups that operate with BTC as main payment, but regarding the others?
From my point of view, companies with sizes like the above mentioned (refering to cash flows and generated income) are normally risk averse and therefore it seems counter intuitive to me to accept BTC as a payment method due to its heavy volatility.
Moreover, not knowing how regulation might influence the outcome for BTC is another argument for not accepting it?!
This leaves me with only one (rather) simple solution, which is that they are convinced of BTC price rises (in the short-term at least), or even a bit more fare-fetched that they are convinced of BTC as "the new digital currency" or similar.
But that´s not plausible for me!
Does somebody know how much BTC Microsoft or the others generate with the exchange of fiat to BTC and vice-versa?
Can someone please help me out, it´s really grinding my gears Huh Huh
Thanks a lot Smiley
Honestly I wasn't aware of them actually accepting BTC as payment but it's nice to hear that they do, I'm sure however they have very stringent measures in place to mitigate risk, the easiest way to do that is to convert the bitcoin they receive to fiat instantly, or in fact they may use a payment method that does that for them already.
I do think it's the same as accepting pay pal and all other payment methods since it does attracts a wider number of audience and that helps to generate more interest and it makes it flexible.
Also at the end of the day they can also encash bitcoins as they want and never even loose a penny if they encash hand to hand but at the same time they won't earn extra penny too.
I do think that it's just for attracting wider audience.
Also at the end of the day they can also encash bitcoins as they want and never even loose a penny if they encash hand to hand but at the same time they won't earn extra penny too.
I do think that it's just for attracting wider audience.
The fact is, there are more and more companies turning off their BTC payment options at the moment. We are having a retracement in acceptance at the moment, due to the high transaction fees. This needs to be a resolved and I am sure it will be. The uptrend will continue then.
The risk-reward ratio is small, and with the growing interest of the public with cryptocurrencies, why would I, as an owner of a company, jump into the boat before anyone else does? Also, these kinds of decisions were thoroughly assessed before being made live, so the feasibility of them accepting bitcoin is there. Oftentimes they are using Bitpay as a payment processor just like what Valve does.
Bitpay is just Jihan Wu's and Roger Ver's toy to pump Bitcoin Cash, same as Coinbase which is now accepting Bitcoin Cash. They are also pushing a certain BIP that is anti privacy for QR codes now, I think BIP70. Do NOT use Bitpay ever again, it's a scam.
Not many big corporations accept BTC if you actually consider the amount that do vs don't.
I don't know why Microsoft does, but they just do. I do know Overstock's CEO and he is personally a bitcoiner, so that's why.
Steam recently dropped Bitcoin support due high fees. I don't expect many corporations to start taking day-to-day payments until Lightning Network is widely spread. I can see Steam coming back once LN is on full steam, so around 2019 we should start seeing that trend go up and so will the price, exponentially.
It's funny after that I wondered why Microsoft still accepts Bitcoin payments, they announced that they no longer accept Bitcoin payments:
https://www.bleepingcomputer.com/news/cryptocurrency/microsoft-halts-bitcoin-transactions-because-its-an-unstable-currency/
Bitcoin was never fit for online shopping or let alone OTC shopping, not without second layer solutions, they will be back once lightning network is mainstream. Also blame Coinbase and the rest by not adopting segwit faster. I accept that some people think segwit is not safe but these guys don't add it because of their BCash agenda.
The popularity of bitcoin is very difficult to stop now. They need to go with the trend or they will be left behind. Also they are intelligent thus they know the consequenses of not following the trend.
It's a part of innovation so big corporations need to be competitive or else they will left behind. Henceforth, this can generate more profit.
The popularity of bitcoin is very difficult to stop now. They need to go with the trend or they will be left behind. Also they are intelligent thus they know the consequenses of not following the trend.
I think big companies like what you have said is the first organizations who will and can adopt and use an innovation to their financial system such as using bitcoins for payment and for currency in their transaction. They are the one who leads small companies to join them in this technology
They probably realize that the price of BTC will go up. It's also a good way to generate more business from those who have BTC.
As cryptocurrencies grow, it could be possible that big companies will jump into. Because they anticipate what will happen next and they are accepting the reality that times will go like this. Having this new generation and system of currencies will surely make their company known to everyone and profitable.
I just think that today bitcoin is very popular and that is why many companies are receiving bitcoin.
Yes, bitcoin is very popular and powerful today and many big companies are accepting bitcoin like microsoft, PayPal and some big companies accepting bitcoin.
Big corporations such as Microsoft has realized the power of bitcoin! That is why they are accepting it. We will see more and more companies accepting bitcoin and countries testing with their own national cryptocurrency.
As of now bitcoin price huge and it is getting more popular in the whole world. The reason why they accept bitcoin is because they believe that they will get more profit on it. Of course if you are holding a bitcoin there's a big chance to have profit on it. Especially they are a big corporations.
The reason companies and large corporations accept payment with Bitcoin can see that they see the potential development of Bitcoin as well as the cryptocurrency. At present, people want to pay for services, they often have to pay through intermediaries or payment gateways, the cost is often not cheap, limited to certain countries. But Bitcoin is completely different, it can do transactions directly anywhere in the world, without intermediaries, the transaction fee is acceptable.
Well big companies such as them knew they would benefit much on these things and it's more advantageous for them to accept bitcoin to go with the trend or flow with the new system, and they're always looking for way to gain more and make productive profit
I think it is because of 2 reasons:
1. Because of its feature like anonymous yet transparent.
2. Its value increases and hence their money is growing without much efforts. It proves to be a digital asset for them.
1. Because of its feature like anonymous yet transparent.
2. Its value increases and hence their money is growing without much efforts. It proves to be a digital asset for them.
Most of the big corporations who accept bitcoin usually do it for the gimmick.
They want to attract customers who are into bitcoin( usually people who owns bitcoin, and doesn't necessarily need the item that the organization is trying to sell, will buy it just because the corporation accepts bitcoin, they want to support it's decision).
Not only that, when a big coporation starts to accept bitcoin, a lot of news sites are starting to publish articles about it, and it usually makes the stock price of the company to rise, it's a direct benefit for the corporation.
They want to attract customers who are into bitcoin( usually people who owns bitcoin, and doesn't necessarily need the item that the organization is trying to sell, will buy it just because the corporation accepts bitcoin, they want to support it's decision).
Not only that, when a big coporation starts to accept bitcoin, a lot of news sites are starting to publish articles about it, and it usually makes the stock price of the company to rise, it's a direct benefit for the corporation.
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