Bitcoin Forum

BTC price is too high now and people store it for more profit. Do you think big companies could choose another one for payment unit instead of BTC? or they go with the flow and use BTC all life long? what is your thoughts about this

High price of bitcoin is always effect the decision of some companies that they have choose it or choose to another digital currency for daily routine transaction Because many another currency are becoming more popular for future benefit. And if they choose to bitcoin then that is good decision because trend of bitcoin will not decrease any time.

Maybe if Bitcoins transaction stuck problem is still the problem if that still the problem im think companies will go to another alternative coin like litecoin and Ripple.

There are many good altcoins.

Why would anyone chose shitcoin forks of Bitcoin like BCH?

The big companies are mainly choose Bitcoin instead of others (forks, alts) because of it's history and the trust, which is party based on the long history and partly the reliability (the technology itself, which is unhackable still)
If it's in connection with fees, the lightning network will come sometime and will solve the fee problem partly, so there's no need to search for something else yet.
Also, if big companies wants to sell to people directly, they will need to use a coin that's known and accepted by the average people too. Forks, alts are unknown to the Average Joes, so there's no use trying to accept them, there will be little interest using those coins instead of bitcoin.

most big companies use merchant tools like coinbase and bitpay

bitpay and coinbase already offers different options and no longer just handle only cores chain

so, the short answer yes merchants and big companies have already begun accepting things other than cores chain. 

The most important factor is not the price but the recognition. BTC has its own brand, the name and logo are already recognized, people are familiar with laws and if you ask a random person what bitcoin is you should be able to get an answer. Shitcoins like BTG don't have that. They are piggybacking on bitcoin's brand and popularity and mean nothing without it.
Also, the price of the whole coin doesn't mean anything as long as you can use 1/100 or 1/1000.

First-mover advantage, I'd say. Bitcoin is still the king of all cryptos and if ever these companies would accept a cryptocurrency as a form of payment for their products/services, they wouldn't choose a coin that only a few people care about and is hard to liquidate. Bitcoin—though volate—can still be used as a form of payment method if you employ third-party services such as Bitpay and the likes. While I think accepting cryptocurrencies as a form of payment is quite dangerous and not viable right now, those services/companies that don't need the funds right away might opt to keep some of the payment they receive in bitcoin since it can still create profit even if they just let it sit still.

what the hell does 'the price is too high'  mean?

prices are set in dollars.

if you really concentrate for a few minutes you'll realise that something in dollars costs the same in btc, bch or boolberry.

if it's a case of volatility then alts are often more volatile. if it's a case of people hanging on for more profit there's often more profit in alts too.

have intellects here truly withered this far?

the only difference in usage is fees. if bitcoin goes back to the bad old days then i can well see merchants switching. other than that there's no better or worse reason to accept any coin.

I dont think a big company would ever choose to accept other currencies that bitcoin or ethereum for their main crypto payment method. Bitcoin is the most popular voin and I would say 99.9% of people involved with cryptocurrencies have heard and know what it is and they also trust it.
Even though the volatility of the price is very big I think they can develop a system that will solve this problem by selling their bitcoin instantly when paying with them. This way they avoid losing profits if the price falls after that.
The fees are not so big right now but I still think there is a bit of space to work with them since they are not the best we can see. I think right now it is more about the time to receive confirmations for the transactions and I hope Lightning Network will solve this problem.

Instead of choosing those coins big companies might choose etherum or another coin like litecoin. It is undeniable that bitcoin is not suited for making transactions especially in small amount due to the fees and length of confirmation time. The alternative is to use popular coins such as etherum or litecoin. There are already many sites that use etherum and litecoin as a payment method but when sending big amount people still use bitcoin compared to the coins you mentioned in the OP.

if you think core can kill off the ethos of the whitepaper. but rely only on 'first mover' / popularity / branding.. then thats already a failure.
myspace had those aspects.. look at them now

many people do not have savings in bank accounts. but if you search thier house you will find some gold somewhere that they have held onto(saved) for months/years without realising it. but although everyone around the world has seen, knows of or held for more than 6 months some gold (whether its as jewellery, tooth fillings or circuitry)... with gold being the universally known 'store of wealth' many do not see what they hold as 'savings' or even want to spend/accept payment in gold.

so branding/value/who/how many hold it. in the end does not mean anything.. unless it has utility to be used daily in peoples lives to pay for food/rent/gifts to live on.. its meaningless.

so the most important thing is not first mover or popularity... its utility, which cores chain is LOSING

the company winds up with dollars. they don't care about fees, confirmation times, developer wars or hard forks. most of them probably don't understand or care the slightest thing about any of the coins.

the only thing a company needs to care about is reaching as many customers as possible, which means accepting as many coins as possible as people like to spend their free gains no matter what their irrational allegiance is.

people are trying to push their crypto agendas on this when the people who count, the companies, couldn't give the tiniest shit.

But as far as I can see, giant tech and companies are accepted bitcoin instead BCH or BCD. That is because bitcoin is more reliable to them because the focus of the current industry is in bitcoin. They are only forks of bitcoin, BCD and BCH are not the real one.

new egg has been involved in bitcoin since before 2014.. the CEO actually does keep some crypto's. but even he has enabled more than just cores chain on his merchant tools. same goes for MANY big companies. but both of us have to agree. the 'alligience' to cores chain is waning/dropping

a company accepting bitcoin only is a stupid company. it's not their job to endorse anything or safeguard something's position. their job is to profit. end of.

there are tons of coins now. some of them are huge. ignoring them means merchants might be giving away profit.

to be honest most of the companies that take bitcoin only care about the fiat value they get , so mostly they use services that do the calculations and take the payments
so they don't care if it's bitcoin or other alts as long as the service exchange the crypto to fiat

most likely we will see a lot of companies taking all cryptos , like the service in coinpayments for example

why in the earth they must choose that?? if i do have a business to get into it
i will firstly go with BITCOIN and then the BCC..
lets just be true.
bitcoin is the most outstanding coin to have in our business even on its volatility.

I don't find any companies where they paid their internal payments with bitcoin but bitcoin gold, bitcoin cash  is so far. But next generation bitcoin will be a such kind of payment system.

tell me one normal reason why company should choose BTC forks if they decide not to accept BTC? One normal reason why I should accept BCH if it's possible to accept NANO? anyway I believe BTC but if company decides to take altcoin they would get better coins like NANO instead of any hardly monopolized BTC fork

The essence of bitcoin as a payment method is starting to change. As OP said, people wants to keep it and store it for better profit and use it as store value.

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There's a big company in China that started to use BCH for the payment of their product and started to stop accepting bitcoin. The closest candidate will be ETH and not BTG, BCH,BCD or any fork coin.

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But we can't remove the fact that bitcoin is still the best for payment.

Although in general based on the function and usefulness of bitcoin with other coins not too far away. If viewed from the point of the exchange rate, bitcoin has a higher exchange rate compared to Btg, Bch, Bcd or another coin.
The use of bitcoin is widespread, increasingly popular and more populist than other coin alternatives.

It doesn't matter which cryptocurrency they accept, they will all have to contend with the people holding for the long term. The holders are one of the primary reasons why bitcoin is able to increase in value over time, as it reduces liquidity, hence driving the scarcity up. This is definitely not something that will change any time soon, for any cryptocurrency as the market is a bunch of holders.

Big companies could choose to used whatever coins they want, they can even choose other alt coins to used, but logically they will used bitcoin, because bitcoin is more popular and it got more implementation than other coins, and then because the transaction volume is high, it tends to be more stable than other coin, btc price is not that easy to be manipulated by the whales

Big companies prefer fiat. Period. Unless they are doing shady shit or their mainstream work is based on cryptocurrency/s or they want to use crypto as a marketing took ,no company would want to use bitcoin for "payment". A company,in legal terms,has to disclose their financials every fiscal year,so to file their reports and do the accounts,crypto would not be accepted as it is not a legal tender,nor is it illegal. Use your brain,dude.

Perhaps you mean Bitmain that stopped BTC as payment and started accepting BCH. That was the plan of Chinese whales to replace original BTC with fake one and they failed. BCH will not succeed at the end

Ethereum doesn't scale good, so no it's not the closest candidate at all.

big companies have to think carefully first if they want to store bitcoin because it is very volatile. they can go bankrupt if mistakes were made. but if they were to choose they can choose bitcoin. bitcoin is more reliable and more accepted compared to btg, bch or bcd.

It depends on the use-case but they shouldn't pick bitcoin just because its the most known, the price shouldn't even come into it, its about the technology, dash for example offers sub cent fees and fast transactions with instant send, it work's a lot better as a payment mechanism currently.

But currently its price is closely connected with BTC. All the regulations are based on bitcoin and made for bitcoin. If there is a ban, it's not being imposed on dash specifically. There's no way that a government will allow dash to function after banning BTC.
So, it all comes to this small feature of BTC that it's the main and most adopted crypto coin. If it fails, alts like dash will take a huge hit.
Also, since BTC is so popular, people who are thinking of using cryptocurrency as a form of payment are immediately thinking of BTC. Most of them don't even know dash and don't know how big dash's user base is. And this is what it all comes down to. If you start using a crypto, you want to serve clients that know about this and can choose this option. You don't want people asking dash? what's that? Oh, it's a cryptocurrency, like bitcoin? Because I have some bitcoins...

It's just them giving BCrash some ecommerce utility it otherwise would never have. It wasn't a plan to replace Bitcoin, because they aren't that stupid to believe in that nonsense. It's nothing more than them hyping up their shitcoin as much as possible, to later on get as many Bitcoins back for it as possible, and their plan worked as a charm. In other words, their plan has already succeeded. If they at some point drop support for BCrash because they cashed out almost everything, people will end up holding shitcoins sinking below 0.01BTC within a few months. No Roger and Jihan capital support = worthless BCrash in the future. People buying themselves into that shitcoin are playing a more than risky Russian roulette game with their funds. Party can't last endlessly. ;)

Yes! I'm talking about bitmain, they are accepting bitcoin before but now they have to stop and replace it with BCH. They are supporters of BCH but it seems that they are starting to fail although they haven't give any announcement that they are accepting bitcoin again or they did it but I'm not updated.

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It's the close candidate as it's also next to the most popular. When you rotate all over the internet, you'll see most of the exchanges, services and other types of stores are accepting bitcoin and ethereum. These coins will never get out of their choices.

Reliability matters when dealing on a large scale, big companies will definitely choose reliable digital currency than currencies which are not reliable enough.
Bitcoin is the face of cryptos and all the alts dependent on it, if bitcoin goes down alts have to suffer but there is no major impact of alts over bitcoin.

so i guess they some possibilities that will happen in the near future because cryptocurrencies are soaring right now with an enormous speed

There is no doubt in this that the valuation of bitcoin is high and the most interesting thing is that it is still inflating and that is the why all big companies do not want to spent it and wants to store it that is wants to hold it till it reaches to its maximum so that they can get the maximum profit and moreover according to many economists the valuation will inflate more and could even reach to $20000 in the last of the year and this is the reason why all big companies wants to store BTC instead of payment.

Now the bitcoin valuation has started inflating , it has inflated by 20% in past week and according to many wise economists it will further inflate in the last months of the year and I think now the time has come for which every investor is waiting for , for the time every investor is holding their bitcoins and I guess this is the only reason why big companies are also not paying in the form of BTC because they just wants to hold it and wants to sell it when valuation will inflate by 50% I guess.

I think bitcoin is be used for payment or transaction but the flaw is when bitcoin price higher, transaction fee become higher too compare with fiat money. I think in the future, we will see many coin that affordable for payment and transaction or maybe bitcoin have new feature on lower cost transaction

There are plenty of utility coins launched that has huge potentials. Big companies could certainly use one of them for transactions. No need to use btc's forked coins coz not all of them has potential anyway. Most companies choose btc because most people know btc and most people who joins the cryptoworld has btc already before any other coin. Btc is the most universal coin so its better to choose it for payments.

I don't agree at all with that, pretty much every coin is easily exchanged for Bitcoin.
Plus, they also have to be sure that enough people would actually pay using those additional coins. Accepting them also has a cost, so better be sure that people would actually use them.

Don't overestimate the actual usage of Bitcoin as a payment method. A lot of companies have started accepting it, but ended up removing support because there wasn't enough interest.

most postrs on this topic have no clue. they just too stuck in the reddit propaganda...

marchants use merchant tools like bitpay/coinbase. so its not the merchant that tells the customer what to use. its the shopping cart service. in many cases the merchant doesnt care and doesnt see what currency a customer is spending. all a merchant see's is "paid in full"

places like bitpay and coinbase decide what are the choice of coins to include. and in most cases its based on the most lively coins they add on their platforms and ones with highest value of the markets

im not even sure why some people try turning this into the kardashian drama aboutbitmain, yet those bringing up the kardashian drama dont even check out the simple things like merchant tool services.