Miami Bitcoin Conference No Longer Accepting Bitcoin Payments
Organizers of the said Thursday that they’ll no longer take bitcoin as payment for the $1,000 tickets they’re selling. Turns out, the transaction fees and processing times associated with the volatile cryptocurrency are just too much of a burden.
This is not news to those who have been following the fluctuations in the bitcoin market, but it’s a bad look for a conference meant to promote the future of cryptocurrencies. This is not what organizers meant when they wrote on the website that “the crypto space continues to explode.”
It was probably a mistake to try to use bitcoin as currency in the first place. Bitcoin transactions are too slow and too expensive and its value is too unstable for it to be a reliable transaction coin.
That won’t stop organizers of this conference from trying again next year though, if there is a next year for bitcoin. “Ticket service providers like Eventbrite or others do not have crypto integrations yet. I think within a year companies like Coinpayments, and other payment providers will have better tools, and we will instantly integrate,” organizer Moe Levin told bitcoin.com.
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It is an interesting situation, where the Conference I would imagine is trying to promote the use of Bitcoin, and yet, they who clearly have a vested interest in it, have almost shown us why we shouldn't use it for payments! lol Anyways I agree with you that it was probably a mistake and they should have seen this problem coming in my opinion. I followed you to hear more of your thoughts on issues like these.
lol