Bitcoin Forum

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I love watching social media a lot. Whether it is my university free time or part time job I know thing for sure, even with the gap of 5 minutes I would just grab my phone out of my pocket and start watching the videos on YT or may be checkout some quick Reels on the Instagram. Call me social nerd but thats what it is.

Now, coming to the topic: Whenever I am touching my phone and accessing these social platforms, there is someone in the world who is getting paid for it! Within that 5 minutes of time there are at least 4-5 advertisements of 20-30 seconds which will be played by platforms like YouTube, Instagram, FB, and basically everything that's digital.

Whether I watch the advertisements or not, whether I skip them or not, someone is always getting paid, someone is always seeing their revenue go boom on a platform just because of my spare time and those 5 minutes.

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As we know all, there are millions of advertisments are running on these platforms all the time throughout the world.
Source [unverified] (https://timqueen.com/youtube-number-of-channels/)

Just checkout only the number of active channels on YT which are getting paid with their generated revenue.

Since these are digital platforms then wouldn't it be sensible to add Bitcoin as digital currency to get paid or lets say to buy premium subscriptions and much more!

We already have wallets with instant payment capabilities and it takes really short time to have 1 confirmation these days. With the third party applications its even faster to pay instantly or get paid instantly.

The volume that is transferred everyday on the internet is really huge, and instead of getting paid with normal payment processors which also takes up lot of verifications stages one can easily start getting paid with bitcoin.

Collaboration with platforms like YouTube, Instragram/Facebook is astounding to imagine.

Why are they lagging behind the sole idea of it?
Where is the spark of Google, the out of the box thinking and the world which they always think beyond imagination?

https://i.ibb.co/BgfRQpY/Bitcoin-5-F00-accepted-5-F00-550x210.gifhttps://i.ibb.co/p0qv6KR/imgbin-youtube-logo-internet-marketing-subscribe-youtube-logo-ZSt-YAQskpi-CPL1p-Gwgsrn-F1-Tj.jpghttps://i.ibb.co/Wgz1md3/Youtube-Thumbnails-Nov-2021-4.png

People don't want Bitcoin. Steam, the largest online shop for PC games had Bitcoin payments, barely anyone used it, and they removed this option when it started creating problems when network fees got as high as $50. For Bitcoin to have any chance to get adopted, three things must happen - the price must stabilize, the regulators must greenlight it, Lightning Network must be officially released and adopted.

You know that bitcoin is a decentralized digital currency and making use of it as well can happened in a decentralized ways but most of this companies you listed were centralized and couldn't want to risk the chance of adopting a decentralized medium of payment whereby they cannot track, trace and trap any suspected person with their system, they also fear their network being hacked and untraceable, they aren't ready yet to be identified by a decentralized currency because they needed to monitor thier inventories within their system but bitcoin adoption goes completely with privacy if you don't want to be identified by them or the government through them, alot of companies were already accepting bitcoin and don't mind, some are just joining while some will still join more later, but don't be surprised they may have thier investments secretly in bitcoin despite they are yet to start it acceptance.

People always read news on the internet about a guy that bough a pizza with 10K Bitcoins, etc. This makes people scared to buy goods with their bitcoins. But it is the wrong assumption because bitcoin would have never become as big as it is without the guy who bought the 10K Pizza. We need to promote buying with bitcoin and not tell stupid old stories.

For the creator of the content you're viewing to actually get paid, you need to watch the ad for a stipulated number of seconds for it to be registered. This is one reason I labor through some of the unrelated ads to me, when they pop up on videos of content creators I learn from or who put a lot into their craft.

Fiat works fine for them, why change?
Bitcoin related content are restricted on many social platforms, I would not be holding my breath waiting for them to implement it into their payment system.

A lot of digital platforms nowadays recognize and accept bitcoins as mode of payment. For a while the dream was that social media could be connected to the blockchain to make monetization a fast and seamless process for content creators and this is slowly becoming realized courtesy of Meta and Twitter creating individual efforts to onboard the people to cryptocurencies and NFTs. As for payment channels a lot of digital wallets in my country support or will support the use of cryptocurrency so I guess that's a good thing in their own right. YouTube and Google conjunctively are a bit stubborn in accepting cryptocurrency for some reason but soon enough when the rest of the internet accepts it they'd follow suit, they did that with the short videos thing, they'd do it again to remain topical and relevant.

It's because they're not yet ready for it and they don't like it yet. As for Google, they're aware of bitcoin and they've been always open to things related to technology.

But they probably think that they just can't allow a decentralized crypto as a payment method to their creators. I think the idea is really good and just give them an option to get paid along with the other payment methods.

Platforms that knows what is opinable supposed to have known that making a payment with the good one will be very nice and very understandable because it is the first people transfer that that does not happen today so digital currency or this force just bitcoin, so digital payment is now what's is taking place in digital platforms.

The problem stems from the fact that most people do not use their bitcoins for such real-life transactions like buying physical things or paying for services with bitcoin, looking back at our history I think it has something to do with Lazlo buying pizza for 10bitcoins, and this set of people look at this act as a bad choice. So they generally prefer to hodl. I think the only platform that I believe bitcoin is being used as a payment gateway are the casinos. I would say the casinos are smart enough to give their customers all possible platforms to use their service without restrictions.

Steam was using BitPay and the problem was with them. But rather than finding their own solution they removed the payment method entirely. I have been unable to purchase any games ever since, because believe it or not, you cannot obtain an internationally valid card in all parts of the world. Once i was barely able to purchase some European gifcard paying at least extra 20% but its way too much trouble, same goes with mobile games. It costs nearly nothing to adopt it, but refusing it is only making you lose purchases, nothing else.

Now at the very least you can travel to El Salvador and find a ton more places that accept bitcoin, even famous American franchises...

You simply live in a world where you take everything for granted, while for some of us it is Bitcoin that actually enabled us to do online purchases.
If it is about Google/Alphabet let me tell you something: Google Pay is not allowed for my country. Now what? YT monetization is not allowed for my country either, people from my country cheat the system in various ways like using a VPN, but that is plain discrimination and a big hassle, and sometimes they go after VPN users so its not as simple as it sounds.

Bitcoin doesn't care about any of that and just works. Bitcoin IS freedom.

I think the companies are yet not ready maybe because it is not accepted all over and using it may be limiting customer to what mode of payment that they want to use but last year PayPal list some cryptocurrency to use in the platform. I think it is gradual for the use to be popular and every platform will like to use bitcoin.

If it had received good number of users, then Steam could've rectified the issue. Here, it hasn't got good number of people using the service which is the reason they don't take the issue seriously and completely stopped the bitcoin acceptance.

What had happened in El Salvador is different, the country have given the free way for its people to do whatever you want to do with bitcoin. If such situation happens around we can see a good rise in the usage of cryptocurrencies.

This could start if Elon starts his twittercoin. There isn't a real law for BTC and the price can be troubling for users when it fluctuates high. Ive heard youtube will also be bought by Elon. Rumors says so.

Deploying BTC on social media, people will realize they could make money with this fluctuation, many will dive to buy BTC.

The problem was that when fees got high, customers were bombarding Steam support about their stuck transactions. Sure, BitPay's shitty service only worsened this problem, but even if Steam was receiving Bitcoin directly, the problem would still be present.


Who in the world cares about El Salvador?


I'm not saying that Bitcoin is totally useless. But on a global scale it's insignificant. It has less than 300k transactions per day - that's nine million transactions per month, So a population of one small country would be able to do one transaction per month if they adopted Bitcoin. So what's the benefit of accepting Bitcoin for a large company? It's going to be a tiny share of their payments and not increase their revenue in any significant ways. But it will introduce development costs, maintenance, maybe even legal risks.

Why would those big tech corporations accept Bitcoin? Is there any benefit for them, by accepting BTC payments?
Are there millions of people, who are using Bitcoin(instead of fiat) on a daily basis? Even the most fanatic Bitcoiners use fiat money on a daily basis. Adopting BTC would bring more problems rather than benefits for the big tech corporations. More regulations for example....
I don't know why do you think that such thing makes sense? It doesn't make sense at all. Facebook even tried to create their own crypto(instead of adopting BTC) and they have failed miserably.

Actually there's many online marketplaces that already accept Bitcoin payment [1], although few of them have delist it. Maybe a big company that still not accept Bitcoin because they don't want to follow a lot regulation, people who complain about the payment (send to wrong address, the price is always change etc), or they're not ready to accept Bitcoin since the price has huge volatility.

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[1] https://icoholder.com/blog/places-accept-bitcoin/

Especially the Lightning Network is a good thing to have when you want to use bitcoins for payments because the competition in this field is very tight and it could be a major thumbs down if the transaction is delayed and it will gonna took them too long to process a single payment. So Lightning Network should be the best option for this because if they won't gonna have any difference as they have been with Steam, then it will be just like a Deja Vu and it will gonna be the same as it was before without any changes.

As far that I know the social media is slowly adapting crypto although is not using bitcoin for now but I belive sooner or later if crypto keep growing they will add option crypto.

The fact is Instagram already make decision to allow their user to post their NFT to their feed this my simple one but i think it will grow more here the link
https://techcrunch.com/2022/09/29/all-facebook-instagram-users-in-us-share-nfts-cross-post-both-apps/
I also already try this feature

second in twitter(the social media how actively in crypto) you can change your profile picture to nft https://www.cnet.com/personal-finance/crypto/how-to-turn-your-nft-into-a-verified-profile-picture-on-twitter/

i already seen in couple of user

and their tipping is start crypto too https://www.marketwatch.com/story/you-can-tip-with-ether-on-twitter-now-11645045510

People are not yet ready to get used to the new thing. As we have already seen and still this is happening. BTC has not been accepted all over the world as a legal currency. There are some restriction in many countries. Introducing this payment system may damage that.
So as long as BTC is not accepted all over the world, big social media platform fear to lose their reputation by allowing this payment method in their system.

They're also aware of its volatility and tat's why they just can't accept it if their business is pegged to the daily operations and accepts payment through fiat's value.

That's why it will take time for them but that's okay. Because eventually, they'll see the increase in the number of adoption and more people will be in bitcoin. It will be their consideration why they'll start accepting it soon.

It's not that easy, they have a lot to consider. Social media platforms use a fiat system because it is more stable and safe for them and their creators.
FYI, now only Google states that it will use a crypto payment system for their cloud services. Read this: Breaking: Google taps Coinbase to bring crypto payments to cloud services (https://cointelegraph.com/news/breaking-google-taps-coinbase-to-bring-crypto-payments-to-cloud-services).

Let's assume the advertiser pays for their ads in Bitcoins to the platform. If the platform pays creators using Bitcoin, when the bitcoin price goes up, they will lose money because they have to pay more than what advertisers paid during the auction. Plus another problem:
- Ad tax and creator income.
- Regulations of the countries where users live.
- Administrative issues related to the two matters above.

In addition, paying with Bitcoin also can make creators feel at a loss when the price of Bitcoin falls, even if it is profitable for the platform. Remember, not all creators make a high income, and many do it to survive.

Instead of trying to get paid Bitcoin/cryptocurrency from mainstream platforms, you can try to make content on the following platforms:
1. Appics (https://appics.com/)
2. Steemit (https://steemit.com/)
3. DTube (https://d.tube/)

Some people still think that unregulated coins like Bitcoin is risky, well that is right actually but not in terms of legality but risk of its price always going ups and down if there would only a way to protect the merchants for something like the volatility of the price, I think there is a chance that the Bitcoin will be widely use to digital platforms but most of them are located to the country which doesn't allow cryptocurrency.

It seems to me that every platform strives to create its own token!! Why would they make bitcoin on their platform a means of payment if bitcoin does not belong to them? It is easier for such platforms to issue their own token or coin!! It is much more convenient and much more profitable from the financial side!! In fact, that's the whole reason!! Twitter is already talking about it to create your token!! Facebook has talked about this before, but they are probably also looking to create their own personal token and, of course, within their own blockchain! So, if you ask, why aren't platforms using bitcoins? Yes, because these platforms don't own it!

My definition of digital platforms is mostly about gaming platforms like Steams and other platforms where you can buy servers and domains from them, as the op said I think they should accept bitcoin and even the other cryptocurrencies because the people who use their services are mostly familiar with bitcoin and they are even bitcoiners and have enough knowledge about bitcoin. I guess that's something we will see very soon about digital platforms because accepting bitcoin depends on the demand of clients and I guess there is a high demand from people.

Yes. It makes sense for the digital platforms to accept Bitcoin. More specifically, it makes economic sense. Not only would it be nice to see the smaller businesses to accept Bitcoin, but it would be even better if larger companies came on board as well. There is no reason any company should not accept bitcoin as a payment option since there are no substantial fees involved and transactions are very quick to complete. However, it is not that easy. The problem with Bitcoin right now is that it has no legal backing everywhere in the world equally. If a dispute arises between buyer and seller, the legal system cannot step in and settle it. That is why big players are not taking Bitcoin payments seriously as of yet.

The benefit is more sales. It costs very little to accept this new payment method, and it even diversifies their porfolio if they don't exchange it right away like a payment processor does. In El Salvador the State itself is doing payment processing, and you could use any other private exchange entity if you still don't trust bitcoin but want us dollars. It is a very good example because we can see a country transform by this mere action of adopting it. Even if you don't care there are people who does, and went there to invest, people like Max Kaiser, etc. Same reason bitcoin price is never zero, some people care, and they are growing every day...

Many transactions can be offloaded to the lightning network, especially the small ones that need to be fast. For the rest waiting a few hours or a day is better than transferring from bank to bank and MUCH cheaper across borders, which was their first reason to use it.

Bitcoin is a popular and widely-used form of digital currency, and many digital platforms do accept it as a form of payment. It's possible that some platforms may have chosen not to accept Bitcoin for various reasons, such as, it might not be very good to go against the government if crypto is not legal or accepted as a currency.
Or they may have some signed document contract in which only provided currency could be accepted as a payment method.

Ideally, it is, moreover Bitcoin as a global currency.
However, they mostly think about short results based on the payment method. So far, some of them may still doubt Bitcoin as their payment method and transaction because of its volatility, no underlying, and also still have much FUD that is always spreading. that is why they are doubtful and afraid of the probabilities. Those digital platforms are not only one or two people but many people. I am sure that they consider what will happen to their business and financial stability by using Bitcoin which is volatile. Except, they may have some future prospects that are created for Bitcoin in the future. This may not close the probability to use Bitcoin in their platform, but, they may still need more preparations and readiness and we don't know when they will be.

Well said, I experience this before on Steam, on the day they started to accept Bitcoin, and on the day also they stop using Bitcoin because of these particular reasons.
For me, it was just a test from them and I believe later on once these problems will be able to solve or manage, using Bitcoin for these kinds of companies will be available again.

Digital platforms, like Youtube, I think they also have their own reason that's why they are not accepting or using Bitcoin on their platforms.
Overall for me what I can say is Bitcoin is still in the early days, the best example is what OP said, there are still a lot of internet platforms that still not using Bitcoin.

This actually become a major reason I think why big company prefer to choose fiat money that crypto.

The fact paypal start to adapt crypto is also the best.

For short term I would prefer they accept trustable stabelcoin so they can accept crypto but in form of stabelcoin only and they should record this and pay the tax so government still win right?

Yes, and it seems fiat is the best choice for them so far.

Unfortunately, I'm still confused about how to buy cryptocurrency through Paypal, because I don't have a feature for that in my paypal account.

Stablecoins is not like the best choice either, because the 1:1 claim against the USD is still biased; the risk is still too big. Moreover, state regulatory issues regarding crypto will still limit them. The government has actually won a lot, even with just fiat. I feel it, as one of the Youtube creators from non-US countries, I must pay US ad tax when people from USA watch my videos and also I must pay tax income in my home country.

Yes of course it makes sense for digital platforms to accept bitcoins.
But if all digital platforms will adopt Bitcoin as a means of payment or purchase on their platforms.
I think it's difficult, even though one day it might happen, but it will take a long time and it won't be easy.

In fact, even though Bitcoin is popular and in demand by many people, Bitcoin is not fully owned by everyone.
In most of the countries in the world Bitcoin has not fully become legal tender.

I think for big platforms, of course, this might also be their consideration.
Because not everyone owns Bitcoin and in most countries in the world Bitcoin is not yet legal tender.
Of course there may be many more reasons why until now some digital platforms have yet to adopt bitcoin for payment or purchases.

I think this is taking a gradual process and now we are feeling some gambling company that already using bitcoin in the platform for gamblers playing in their site. It is not many countries accepting bitcoin yet and that is the part slowing the use of bitcoin but it is starting gradual as a choice which is good.

that's the problem. why until now several major platforms have not been able to implement payments with Bitcoin. especially for some companies that are located in countries that have strict regulations regarding the ownership and use of Bitcoin.
some Countries allow the ownership and trading of Bitcoins. but does not allow the use of Bitcoin as a means of payment. although quite a good idea from the OP, but there are always pros and cons that exist.

maybe this could also be the reason, why the Facebook social media platform was once very great in the media regarding the launch of their new coin.

Most of the services run by companies in the virtual space do not need to add a payment system for bitcoin users, even if they are able to obtain the necessary licenses. Bitcoin is very useful compared to other payment systems, as it represents an alternative currency capable of replacing fiat money, as well as a network for making transfers. Unfortunately, there are problems with this system that not all companies can deal with, and it is preferable to avoid them until the time when the price of Bitcoin stabilizes more, and the demand for adoption increases. Twitter, a few months ago, added the ability to send tips via the lightning network, and I do not expect that the numbers will indicate a great demand for this feature.

Large transactions can be made with bitcoin, and other cryptos should also be for users/customers to choose from. The pizza guy can now buy another pizza for 0.0+btc he don't needs to spend thousand of bitcoin now to buy a pizza  ;).
Involving bitcoin payments to small and medium businesses will help promote bitcoin

They had the idea but then they need to consider the economic factor and regulation that is currently implemented.  They failed to implement Bitcoin payment option because they think that it will cause them problems when it comes to countries where their business is operating.

Not because Bitcoin is a digital currency, company must implement it, after all people have choices and freedom to execute it.  Behind these freedoms are regulation and possible consequences.   I think this huge company thinks that it is better for them to not implement Bitcoin as mode of payment unless there is a clearer regulation about using it.

Ok so this makes more sense now. But sometimes big players can really influence the technology and technological advancements that goes into it. For example, platforms like Google, YouTube, Meta and every giant are really capable of modifying the way it works under bitcoin roof. If they start working on it then definitely we can see coolest programmers coming together and working on the same.

Instead of fighting against governments who has all the time and money to keep bitcoin away from implementing, I believe that giant companies mentioned above should prove the point of using bitcoin.

I think using crypto accepted places just because it would look good is not a good enough reason. It would be a lot better to use regular places and ask them to accept crypto, if enough people do then they will make it a topic in the shareholders meeting and then add it probably.

I still want amazon to accept it, if that happens widely and accepted easily, not even bitcoin perse, anything like USDT or whatever would be fine, in that way we would be able to actually spend billions and billions in crypto that way. It would definitely change so much but it also comes with a lot of law stuff and that is a bit of a problem for everyone and that is why it's not done right now.

Prove the point of using Bitcoin? Ask them first if they are interested. We all know that Bitcoin and this technology in general has downsides regarding market volatility and that's the point already why there are people who are not interested into it. We cannot simply order online platforms to accept this mode of payment simply because it has the hype. Businesses has their own measures of risk, and this includes digital platforms. If it is fiat which is preferred by these companies we cannot do something about it. Even on our end only few of us are using cryptocurrencies as an alternative payment because most of us prefer to use it as an asset to generate profit and that simply explains why there are still businesses who does not adapt this technlology.

While I would love for big companies like Amazon to accept bitcoin payments we are still probably years away from this happening.

Companies follow the money and if they do not believe there is enough money to be made then they are not going to accept bitcoin as a payment option, so more than anything we need adoption, we need that more people begin to use bitcoin to buy products and services, and when that happens Amazon and other similar big companies will realize they cannot ignore bitcoin anymore and they will do what they can to offer this payment option to their customers.

There are still many countries that have not accepted the presence of Bitcoin, which is why there are many obstacles experienced by large companies, for example Facebook, who want to issue their coin called Meta, until now, they haven't launched it even though they have been busy discussing it in several forums, including  this forum, until now no big company has dared to launch their digital coin in the community.

Lightning network will solve the payment issues  most persons encountered when making payments. Until this issue is resolved most digital platforms will be hesitant to adopt it. Now this is why so there have been rumors that Twitter might or should in corporate Lightning network for it's payment.