Why do big corporations accept BTC? - page 20.

Zilonglong.bucks

newbie

Activity: 32

Merit: 0

Quote from: NeoMA on January 06, 2018, 06:13:12 AM

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

Well, to be honest, the reason why most of famous companies in world accepting btc simply because they already knows about bitcoin value, of they will invest to bitcoin, they will have higher value of money, the more bitcoin transactions that they have, they will hold it for good and invest money in long run.

olushakes

sr. member

Activity: 476

Merit: 254

Quote from: NeoMA on January 06, 2018, 06:13:12 AM

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

I really don't know when consulting firms start accepting bitcoin because to my understanding PWC does not deal with individuals as clients rather they deal mostly with corporations and for them to accept bitcoin would mean their client ready to pay them with it. The reasons for acceptance in my opinion would be largely due to business being technological relevant and customers sensitive and because they know the appreciative embedded they tend to accept.

Hydrogen

legendary

Activity: 2562

Merit: 1441

Quote

Why do big corporations accept BTC?

....

Steam recently dropped support for bitcoin.

It could mean they'll lose millions in revenue.

Adding bitcoin support is like writing and publishing a book. Then having it translated in other languages. Adding bitcoin support broadens their potential number of users and customer base.

Steam by contrast, dropping bitcoin support, limits their user and customer base.

Those are the basic fundamental principles surrounding microsoft and others expanding to support bitcoin. Those large entities recognize that they've reached a saturation point where high growth is no longer an option for them. And so they look for niche methods which can be utilized to broaden and expand their markets, via reaching out to demographics of people who might not normally buy or use their products.

Microsoft is an example of this. Most techies would probably prefer linux. Microsoft adding bitcoin support allows them to cater to the linux users and bitcoin fans who might not normally do business with microsoft.

There could be sound strategy and good business sense behind retailers including bitcoin support which go neglected and fly beneath the radar.

bitcad4u

sr. member

Activity: 602

Merit: 255

Quote from: sclmte on January 06, 2018, 02:13:49 PM

Quote from: btcprospecter on January 06, 2018, 11:17:34 AM

I think big corporations are seeing that bitcoin and other crypto currencies are here for the foreseeable future as a alternative to fiat currency. They want to give options to their customers and bigger companies can accept loss if crypto was to ever fail but at this current time it isn't and is proving to generate profit even after sales for a corporation its a wise decision to offer this.

I believe so. They found it very fascinating especially when it comes to their customers. And it’s a good thing, because given the popularity of Bitcoin and other cryptocurrencies, it allows these companies to attract more customers through their payment method.

Many big corporations accept bitcoin,because they know the value of bitcoin and they know the bitcoin will became national currency.So this makes them to earlier adoption of bitcoin.Do you know even Amazon start to accept the bitcoin as a payment method and You tube also start to pay to their employee with bitcoin.

cellard

legendary

Activity: 1372

Merit: 1252

Quote from: dothebeats on January 06, 2018, 10:04:09 AM

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.

sclmte

member

Activity: 434

Merit: 10

Quote from: btcprospecter on January 06, 2018, 11:17:34 AM

I think big corporations are seeing that bitcoin and other crypto currencies are here for the foreseeable future as a alternative to fiat currency. They want to give options to their customers and bigger companies can accept loss if crypto was to ever fail but at this current time it isn't and is proving to generate profit even after sales for a corporation its a wise decision to offer this.

I believe so. They found it very fascinating especially when it comes to their customers. And it’s a good thing, because given the popularity of Bitcoin and other cryptocurrencies, it allows these companies to attract more customers through their payment method.

hitrawal91

full member

Activity: 462

Merit: 101

BitcoinSN - The Real Bitcoin!!!

Big corporations accept bitcoin because they want to move the trending payment system, and they want their products and services to be reached to any number of people thus by allowing the bitcoin payment system. I can understand that many corporations still fear about bitcoin because bitcoin is still in that grey area of acceptance in many big countries and i hope it will be made legal in all over the world soon when bitcoin will reached the high demand in all over the world and big corporation will play a major role here in this.

filharvey

hero member

Activity: 866

Merit: 1001

Most companies have started to realize that they could no more avoid bitcoin payments.Or else,they would have to lose their existing customers as well as new customers.They have seen bitcoin establishing itself well after eight years

jseverson

hero member

Activity: 1834

Merit: 759

Why do big corporations ever do anything? It helps their bottom line is why. I'm sure their decision to start accepting Bitcoin was meticulously researched and has strong indicators that it would be beneficial. Even if they do end up losing money, it could also have effects in other areas such as public perception. If it stops being beneficial, they'll probably simply drop it, like Steam did.

I'd like to think they're being idealistic by supporting emerging technology to spread awareness and spur growth, but that may be too much wishful thinking. I mean, I'm sure that could be a driving factor, but for-profit companies are exactly that -- for-profit.

btcprospecter

sr. member

Activity: 504

Merit: 251

★777Coin.com★ Fun BTC Casino!

I think big corporations are seeing that bitcoin and other crypto currencies are here for the foreseeable future as a alternative to fiat currency. They want to give options to their customers and bigger companies can accept loss if crypto was to ever fail but at this current time it isn't and is proving to generate profit even after sales for a corporation its a wise decision to offer this.

BumbleBeast27

newbie

Activity: 76

Merit: 0

For a regular consumer's point of view, I think it's a risk they are willing to take due to Bitcoin's rising popularity and demand. Big corporations (I think) also have the means to venture into adapting to cryptocurrency as they are well funded.

sampalokmix

full member

Activity: 315

Merit: 100

Investing in the future development of blockchain

Quote from: amih on January 06, 2018, 10:03:27 AM

I just think that today bitcoin is very popular and that is why many companies are receiving bitcoin.

Yes thats true, and I think this is just a part of their innovation since its a corporation competencies will not be abolish , I think they mist be in line whats hot or whats in, and Bitxoj holds a lot of people, without any further talks Bitcoin catch the loyatly of the people which is the corporations was targeting , this is just a win win situation.

JL421

hero member

Activity: 812

Merit: 510

Quote from: NeoMA on January 06, 2018, 06:13:12 AM

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

Mnc's mostly accept BTC as a preferred method of payment, as their main source of income is through people so by maintaining a friendly relationship between the demands of different payments methods they are ready to implement btc as a payment method. Once major vendors like amazon start accepting btc or any other cryptocurrency it will be one of the most powerful digital currencies.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

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.

amih

member

Activity: 308

Merit: 17

I just think that today bitcoin is very popular and that is why many companies are receiving bitcoin.

omonuyak

sr. member

Activity: 882

Merit: 269

I do believe from the beginning many companies will have the mind of using bitcoin and other coins as a mode of payment for goods and services but now because of the high transactions fees and volatility there have to change there plan. Bitcoin Will used by all works of life because of the fastness of transactions and it decentralized nature but mining fees too high.

resty

full member

Activity: 501

Merit: 147

Quote from: NeoMA on January 06, 2018, 06:13:12 AM

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

Well, logically, big corporations accept Bitcoin to cope with the changes of our environment, they take this opportunity for their own good. Obviously, if they accept Bitcoins, they're product will be more accessible to many people, thus more power! Since they're product is widely known, there is a big possiblity that many people we're buy it. Consequently, they can gain a bigger profit.

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

Quote from: NeoMA on January 06, 2018, 06:13:12 AM

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.

Generally, companies that accept BTC use a payment processor to handle their payments. The most prominent payment processor is BitPay.

When they accept Bitcoin through a payment processor, the payment processor may have an option to sell the BTC they receive for fiat and deposit it into the company's bank account for a flat fee with no volatility risk. BitPay does this for a 1% fee, which is dramatically lower than PayPal fees to the merchant (2.9% plus $0.25 in the US I think).

So it's usually pretty easy for companies to accept Bitcoin, but some companies may be worried about complaints from customers due to Bitcoin's problems (high fees and potentially confirmation problems for the consumer), or they may just not consider Bitcoin popular enough as a payment system to be worth implementing.

NeoMA

newbie

Activity: 6

Merit: 0

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

Topic: Why do big corporations accept BTC? - page 20. (Read 2082 times)