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Author Topic: Why do big corporations accept BTC?  (Read 185 times)
NeoMA
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January 05, 2018, 07:47:10 PM
 #1

Hi there,
I wanted to know why big companies like Microsoft, Paypal, Overstock and now consulting firms (with PwC HKK) accept BTC as a payment method? Regarding the latter, it´s due to increasing cooperations with start-ups that operate with BTC as main payment, but regarding the others?
From my point of view, companies with sizes like the above mentioned (refering to cash flows and generated income) are normally risk averse and therefore it seems counter intuitive to me to accept BTC as a payment method due to its heavy volatility.
Moreover, not knowing how regulation might influence the outcome for BTC is another argument for not accepting it?!

This leaves me with only one (rather) simple solution, which is that they are convinced of BTC price rises (in the short-term at least), or even a bit more fare-fetched that they are convinced of BTC as "the new digital currency" or similar.
But that´s not plausible for me!

Does somebody know how much BTC Microsoft or the others generate with the exchange of fiat to BTC and vice-versa?

Can someone please help me out, it´s really grinding my gears  Huh Huh

Thanks a lot Smiley
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January 10, 2018, 03:21:37 PM
 #2

the short answer is GREED.... corporations are only interested in profits. The global economy is changing and the FIAT world is starting to notice that crypto has benefits that far outweigh the short term volatility risk.

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January 16, 2018, 02:40:05 PM
 #3

the short answer is GREED.... corporations are only interested in profits. The global economy is changing and the FIAT world is starting to notice that crypto has benefits that far outweigh the short term volatility risk.

This is super interesting, thank you for sharing your opinion.
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January 17, 2018, 06:07:41 AM
 #4

the short answer is GREED.... corporations are only interested in profits. The global economy is changing and the FIAT world is starting to notice that crypto has benefits that far outweigh the short term volatility risk.

I don't think the GREED is the only reason.

All companies need to carry out research.   I always keep Andrew Grove's phrase "only the paranoid survive."  If the cryptocurrency is real, they need to figure out what it is.  MS, for example, participated in O'Caml development for a long time before they introduce F#.  So if these large companies are worrying about their long term survival, they need to find out how the cryptocurrencies work.  Many large companies are behind Iota.


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January 17, 2018, 11:30:01 AM
 #5

Large companies are now accepting bitcoin due to effective marketing campaign which includes most of the transactions free of charge. Btc is widely accepted as a form of payment so I think there's no reason gigantic companies will not accept it.

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January 18, 2018, 10:55:27 AM
 #6

Will Bank of America accept bitcoin ? Will banks become bitcoin hub ?

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January 18, 2018, 02:48:43 PM
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Will Bitconnect stop working?  Cry Cry Cry

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January 18, 2018, 06:53:46 PM
 #8

i think vary soon some asian bank accept bitcoin
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January 18, 2018, 10:48:04 PM
 #9

Many big companies are now accepting Bitcoin, and other virtual currencies (or cryptocurrencies), as valid sources of payment for their products because its technology world.. everyone have to change for their future. Bitcoin is the future Smiley
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January 19, 2018, 11:00:07 AM
 #10

Its been a great news that some big companies that accepting bitcoin.Bitcoin is a payment system that can be accepted worldwide if that would be implement in every country .Maybe some companies research for the benefits and good reason why they choose btc as a payment for every establishments they connected.Bitcoin now has a good future and a good news for us that bitcoin was spreadout.
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January 19, 2018, 11:28:30 AM
 #11

Everything that big companies like Microsoft do, they do it for a good reason. And its same with bitcoin. It could be what you have been thinking or it could be something that we can not see, because we do not know everything about those companies. I think that it is a calculated risk on their side, they make good profit from short term holding. And in the meantime  they wait to see what will happen, because no one can predict future with 100 percent certainty.

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January 20, 2018, 01:29:14 PM
 #12

Hi there,
I wanted to know why big companies like Microsoft, Paypal, Overstock and now consulting firms (with PwC HKK) accept BTC as a payment method? Regarding the latter, it´s due to increasing cooperations with start-ups that operate with BTC as main payment, but regarding the others?
From my point of view, companies with sizes like the above mentioned (refering to cash flows and generated income) are normally risk averse and therefore it seems counter intuitive to me to accept BTC as a payment method due to its heavy volatility.
Moreover, not knowing how regulation might influence the outcome for BTC is another argument for not accepting it?!

This leaves me with only one (rather) simple solution, which is that they are convinced of BTC price rises (in the short-term at least), or even a bit more fare-fetched that they are convinced of BTC as "the new digital currency" or similar.
But that´s not plausible for me!

Does somebody know how much BTC Microsoft or the others generate with the exchange of fiat to BTC and vice-versa?

Can someone please help me out, it´s really grinding my gears  Huh Huh

Thanks a lot Smiley
All big companies like Microsoft, Paypal, Overstock are all aiming for high profits. And the bitcoin foundation they think it will thrive around the world

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January 20, 2018, 09:33:09 PM
 #13

The main two reasons are advertising and investment. By accepting BTC they will immediately get googled more often, the bitcoin news outlets will write articles about them, people will start talking, posting on social media. It's free advertising!
As for the investment, they can influence the market by accepting it, it's positive news that can add to the value of BTC. So, if a company is already investing in cryptocurrency and then goes public with it it can increase their profits and personal profits of the owners (investors and shareholders).

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January 23, 2018, 12:40:05 AM
 #14

Cyptocurrency/bitcoin market is fluctuated and it will be in that way for awhile before it's stable and will get stronger by nature of any change. I believe virtual money(cyptocurrency) will be replaced and fiat currency will be obsolete gradually like dial-up internet obsolescence!  BTC is the same, being growing in a good supporting environments(more big companies are going to join).
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January 24, 2018, 08:07:16 PM
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Because they are preparing for the future!!

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February 03, 2018, 08:37:50 PM
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 #16

the short answer is GREED.... corporations are only interested in free. The global economy is changing and the FIAT world is starting to notice that crypto has benefits that far outweigh the short term volatility risk.


I totally disagree to the first part of your opinion (off course you are entitled to it). That is - "the short answer is GREED.... corporations are only interested in profits".

Greed as you submitted, I don't concur is the exact reason for the use of bitcoin by big corporations. Companies are suppose to generate money to run their businesses and so if they accept or use bitcoin to achieve their objectives, is still in line.

Then for profit making , not all are for profit. There are different types of companies. Basically two types which are the statutory - they are government establishment formed by the constitution and their soul aim is not to make profit but to provide social amenities as reaching out to government objectives to the citizenry.

And, registered company. Registered companies are further divided into:
1. Private limited liability by shares
2. Public limited liability by shares and
3. Company limited by guarantee.
These companies are all registered, the first two are geared towards profit taking while the third is incorporated for charity, research purposes etc.

In other words, I am just disabusing your mind and convincing you that not all companies run just for profit purposes and moreover , they are checked by the government as they are also to carry out some social responsibility to communities they are located.

Finally , you so much correct on the last end of your post. Bitcoin is a part of the modern world, with all its advantages. It will off course be easier for big  corporations to adopt or accept it for faster business transactions.

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February 06, 2018, 02:49:17 PM
 #17

Many large companies and big corporation are continue to operate with Bitcoin because it is a better way to do transactions.It is a best place for the business help them to increase their income and to decrease transactions fee.

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February 07, 2018, 03:03:01 PM
 #18

I won't talk about the financial part, but lets look at it from the marketing view: how much money do you think those big companies spend on marketing? and how many users buy their products using bitcoin? lets assume that they burn all the bitcoins they get paid, it's still a winning deal since the extra exposure they've got and how they made people think of them again paid off the BTC they burned (unless BTC goes mega high again Grin)
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February 07, 2018, 05:03:30 PM
 #19

hi
actually I am not sure that BTC became a new currency.
Digital is growing so fast in each industry but it's not about money.
On my opinion, currency should be conservatory thing. I am afraid It's all as a big soap bubble
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February 07, 2018, 05:06:07 PM
 #20

because they think it would be the future currency and they are much positive about the bitcoin and its features..

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