Why do big corporations accept BTC? - page 9.

Pintasak

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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

Many companies are accepting btc.because cryptocurrencies right now are deemed high risk investment.A bussiness will be reluctant to speculate bitcoin market

Casabrandy

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Quote from: abayan on February 27, 2018, 02:53:18 PM

I must say that those big companies that are not going to accept bitcoin are stupid enough to be in the industry they are in right now. If I am going to reverse the question, why big companies must not accept bitcoin? Isn't it harder to answer? The thing is, they see the benefit and potential of bitcoin as they accept it and get involved in it.

seeing many ICO now can be the evidence that big companies already uses its function, and it's more convenient as well as easy to have transactions. Governments must used this system or he blockchain for a much transparent government.

abayan

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I must say that those big companies that are not going to accept bitcoin are stupid enough to be in the industry they are in right now. If I am going to reverse the question, why big companies must not accept bitcoin? Isn't it harder to answer? The thing is, they see the benefit and potential of bitcoin as they accept it and get involved in it.

sumangs

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Because they believe that bitcoin will be the best technology that will be use in worldwide payment. It also makes the currencies unite as one and have a better currency to be used. So if big companies will initiate the revolution it will be implemented faster since those companies have greater demand than others so that others will also adapt the new system.

piratcoin

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I can envision also that for a few organizations it may be a promoting move. It doesn't need to be productive.
By tolerating cryptographic forms of money you can demonstrate that your organization is working with the most recent patterns and advances.
That pulls in particularly more youthful individuals, and among them are well procuring individuals of tomorrow.
Setting up an association with them today will be imperative tomorrow.

usam_coiner

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Quote from: Godday on February 27, 2018, 08:49:30 AM

Quote from: ChConcept on February 17, 2018, 05:29:11 AM

Well what I can say on this is, those big companies likle Mircosoft accepts Bitcoin because they have known its value and potential and that they know that it will be great in the future so as early as now, they are already accepting it.

really some companies that are engaged in technology has taken the decision to accept bitcoin but there is also a precisely forbid, is still the actual debate about bitcoin in developed countries

bigger corporations are already investing into bitcoin because they realize that bitcoin has more scope in future and everyone will deal in bitcoin so its better to adopt it now rather than implement bitcoin system when it will costs in millions,

Godday

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Quote from: ChConcept on February 17, 2018, 05:29:11 AM

Well what I can say on this is, those big companies likle Mircosoft accepts Bitcoin because they have known its value and potential and that they know that it will be great in the future so as early as now, they are already accepting it.

really some companies that are engaged in technology has taken the decision to accept bitcoin but there is also a precisely forbid, is still the actual debate about bitcoin in developed countries

jbarcenas18

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Corporations accept bitcoin because they see the potential value of bitcoin though it is volatile but not all the time the value decrease but time come the value of bitcoin will double its value.

monomix

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hah, i missed smth probably, big corp accept btc? i would not want to take btc as a corp and as individual for salary. i dont spend much, then i have to take care of saving value for saving part of my money. and btc is not for saving to me, thats investment. corps ahve to manage liquidity, having such volatility of btc

Lora_ng15

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bitcoin is our future, it is quite normal that large corporations begin to use it

nethan1btc

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Quote from: ChConcept on February 17, 2018, 05:29:11 AM

Well what I can say on this is, those big companies likle Mircosoft accepts Bitcoin because they have known its value and potential and that they know that it will be great in the future so as early as now, they are already accepting it.

As time passes by bitcoin become more popular because there are a lot of people who earned already a very huge amount of bitcoin which they prove to other people that bitcoin is legit and not a scam. Well, on my opinion, big corporations accept BTC because they can afford to buy huge amount which can give a good huge amount of return.

filtyfrank251

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Quote from: Carmen03 on February 23, 2018, 07:52:48 AM

A bitcoin transaction is direct friction less and private with no need for an intermediary .Bitcoin is quicker to use than traditional currency and holders prepare to pay for products or services in Bitcoin. if they can. Bitcoin payments goes into their bitcoin wallet and offer one touch payments that makes accepting bitcoin very easy for business and their customer.

Because these corporations grasp the trend of payment in the new era and it is a very good area for these corporations to exploit. There are already many large corporations in the world that have created their own crypto for commercial purposes and exchange. I believe the day that bitcoin is widely used around the world will not be too far away.

Carmen03

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A bitcoin transaction is direct friction less and private with no need for an intermediary .Bitcoin is quicker to use than traditional currency and holders prepare to pay for products or services in Bitcoin. if they can. Bitcoin payments goes into their bitcoin wallet and offer one touch payments that makes accepting bitcoin very easy for business and their customer.

Nissan-GTR

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Quote from: PalindromemordnilaP on February 08, 2018, 09:38:11 AM

I think big corporations accept BTC to help speed up their daily transactions with the help of blockchain. These companies really have a good vision for the welfare of its employees and clients as well.

Indeed. I also think that also because big corporations are getting into line with what is in especially when it comes to earning big amount of money since the news has already been spread out and public that for sure they have already recognized Bitcoins worth and its capability to make their production of money grow into furthermore large money which is good for them and also for the benefits they can gradually give to their workers. The vision of gaining a large money is literally the main purpose why most investments and workplaces are coping into Bitcoin cryptocurrency to start up something new that is beyond benefiting their own.

ChConcept

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Well what I can say on this is, those big companies likle Mircosoft accepts Bitcoin because they have known its value and potential and that they know that it will be great in the future so as early as now, they are already accepting it.

andika2018

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Quote from: Xavofat on January 06, 2018, 06:57:42 AM

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.

This is great explanation for me. Its makes me more understand about why company accept bitcoin payment. So company can make sales and they dont worry about market fluctuation.

BTC-Market

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Bitcoins are taking over the crypto-currency marketplace. They’re the largest and most well-known digital currency. Many large companies are accepting bitcoins as a legitimate source of funds. They allow their online products to be bought with bitcoins. With the extreme facilitation of transfer and earning of bitcoins, it would be a mistake not to accept these new-found online coins as cash. With a fluctuating value, the funds can either help or hurt the company. This fluctuation of inflation can be a boon to business, unless the market is valuing the coins insanely high, sometimes reaching 1000$ and over!

Carlsen

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I can imagine as well that for some companies it might be an advertising move. It does not even have to be profitable.
By accepting crypto currencies you can show that your company is working with the latest trends and technologies.
That attracts especially younger people, and among them are well earning people of tomorrow.
Establishing a connection to them today will be important tomorrow.

joms07

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Some companies like Dell and the other big names started accepting Bitcoin due to an ..... Still so much to do, still so many basic need companies to add BTC and cryptos as payment.

katrimans

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Quote from: PalindromemordnilaP on February 08, 2018, 09:38:11 AM

I think big corporations accept BTC to help speed up their daily transactions with the help of blockchain. These companies really have a good vision for the welfare of its employees and clients as well.

It is now a digital age, everything is transforming from smart to smarter. People are more concerned about the security of their items than they were before. Governments are looking forward to make some policies to legalize it and companies are willing that their transactions should be dealt in bitcoins.

A famous company eBay has accepted the bitcoin as their payment method, other companies will also be looking forward for something like this to facilitate their customers and for their own benefit also.

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