The truth is payment processors and networks are threatened by Bitcoin and cryptocurrencies in general because the superior technology they provide to traditional payment systems poses an existential threat to the legacy financial system. They have been trying to kill Bitcoin and have tried various tactics in the book. The latest attempt to limit access to crypto but stopping payments on credit cards and payment processors will just end up being another failed attempt to kill crypto. It might cause some short-term downward price action, but Bitcoin has weathered all such storms in the past and keeps advancing.
No, i do not think so.
This news was posted on January 2018 when the time prices of crashed from all time high of almost $20,000 to $11,000. If you are a business and you accepted bitcoin for payment at $20,000 then after a few days it went down to $11,000 then you lost $8,000 right away. I understand that it could go the other way around but if you own that business are you willing to take that risk.
We know how volatile bitcoin is and sad but this is one of the major reason why as of now businesses are thinking twice to accept bitcoin.
Not all are trying to kill bitcoin.
it had nothing to do with price and the volatility of it. the reason was purely because of the ridiculously high fees. and unfortunately that forced some other big ones like Steam to also stop accepting bitcoin payments.
what you explained here is true only if they were directly accepting bitcoin payment but that was not true. they were going through BitPay and when you do that, you have the option to receive the fiat equivalent despite the user paying in bitcoin, so they don't lose anything even if price falls from $20k to $1 in a day.
