The Negatives of Accepting Bitcoin
A friend recently asked me: "what are the negatives of accepting Bitcoin payments?" which made me stop and think how I had never completely expanded on the cons of the technology myself. Cryptocurrency enthusiasts usually focus on the positives, but we should be tackling the problems also. Contemplating the negatives at this pivotal stage could help shed some light on the hurdles for adoption. Education. Most people, even some cryptocurrency enthusiasts, don't fully understand the ins and the outs of the Bitcoin software and protocol. Although this has gotten a lot better recently with....
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There are many rumors being spread regarding McDonald’s possibly accepting bitcoin soon. The reason speculation is so high is due to their announcement of accepting a new digital currency soon. They entertained a variety of questions through twitter, and the response was particularly interesting when asked if it was bitcoin. The tweet towards McDonald’s was as follows: “So @McDonalds is going to start accepting a random type currency soon.. I wonder it its $btc #bitcoin”. The response given was:
Litecoin is trading 0.31% or $0.014 down at $4.536 as selling pressure increases. While the price sustains above the support provided by $4.100, it may seem that a base may have been hit, but before establishing that we must take into consideration what the technical indicators are conveying. And I think they are pointing towards what was discussed in my previous analysis titled This May Turn Real Ugly! Litecoin Chart Structure - Litecoin has been repeatedly testing the support line but has failed at achieving a higher high on the rebound. The cryptocurrency is witnessing what is aptly....
As bitcoin continues to grow in popularity, small businesses around the world have begun accepting the digital currency as a method of payment. Many of these businesses have seen only a very small portion of their customers pay with bitcoin, but that doesn't necessarily make the venture into cryptocurrencies a failure. Dr J Anthony Allen, CEO of the Minneapolis-based music production school Slam Academy, said bitcoin payments at his business have been "very successful," yet Slam Academy has seen just one customer pay with the digital currency since Allen began accepting it in November of....
Tesla CEO Elon Musk has announced that when there is “confirmation of reasonable (about 50%) clean energy usage by miners with positive future trend,” his electric car company will start accepting bitcoin for payments again. Elon Musk Reveals When Tesla Will Resume Accepting Bitcoin Tesla CEO Elon Musk talked about when Tesla will resume accepting bitcoin for payments Sunday. He wrote: When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. Tesla began accepting bitcoin for....
With over 80,000 companies already accepting Bitcoin payments as of 2014 and that number rapidly growing, business owners can no longer afford to ignore the world’s most popular decentralized currency. So let’s check out six reasons why accepting the virtual currency is a great idea. Multiple Reasons to Accept Bitcoin. Around the world, forward-thinking merchants from small shops to large corporations are joining the Bitcoin trend, with many of them doing so in order to improve cash flow by cutting costs and boosting their bottom line. But, is doing business in Bitcoin a worthwhile....