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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
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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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January 18, 2018, 06:53:46 PM
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i think vary soon some asian bank accept bitcoin
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January 18, 2018, 10:48:04 PM
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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
Merited by Maestro75 (1)
 #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
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because they think it would be the future currency and they are much positive about the bitcoin and its features..

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February 07, 2018, 11:59:03 PM
 #21

Moreover, not knowing how regulation might influence the outcome for BTC is another argument for not accepting it?!
Have you heard about 50 cent,who accepted bitcoin for his album and he left the coin untouched and now it turned into a million dollars,you have to be positive and if you are ready to accept the challenge you might win.The rapper never anticipated anything,he just wanted to try out and forgot about it it seems. Grin


Quote
Does somebody know how much BTC Microsoft or the others generate with the exchange of fiat to BTC and vice-versa?
You wont get those details unless someone working in the accounts section give those numbers. Cheesy

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February 08, 2018, 08:33:42 AM
 #22

Corporations are open minded in crypto they search for what can give it and the benefits of it when they accept payment as btc.They are positive for its increasing the btc they paid to them that it will be possible to get high.
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February 08, 2018, 06:22:31 PM
 #23

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).
You can't be more correct than the two outlines you gave, advertising and investment purposes, for the acceptance of bitcoin. That is apt. Besides, if the OP rephrases the question it would stand at "Why do businessee accept Fiat/cash? The answer would be an obvious, " because it is a medium of exchange. I believe the same should go for bitcoin.

eople

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February 26, 2018, 01:56:51 PM
 #24

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.
yes, I agree with your opinion
I think it is unlikely that a big company works with bitcoin, if it does not generate huge profits,
an I'm sure big companies will succeed again, and crypto will be even better.

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February 26, 2018, 04:04:45 PM
 #25

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.
yes, I agree with your opinion
I think it is unlikely that a big company works with bitcoin, if it does not generate huge profits,
an I'm sure big companies will succeed again, and crypto will be even better.

It's business at the end.  Everyone focuses on multiplying their respective revenues. Crypto especially bitcoin being the first currency with high values and it keeps moving upward, the business whales know that they need to utilise this situation investing or manipulating the high value to grow their revenue by any means of accepting bitcoin either as a payment method or investing the bitcoin earned thriugh payment method into other crypto currencies to multiply it's profits.  This is entirely a business move. 

Always a business emphasis on looking for current trend loop hole to attract customers towards their business to increase their business revenue. This is why the top companies mentioned above accepts bitcoin as a payment method.

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February 28, 2018, 02:10:45 PM
 #26

Imagine that you have big company with good capital source and ready to make investment. What do you think about investment in Crypto for long invest or short invest by trading daily?
On my opinion, there investing for sure to making more profit. With good capital source, they can take part manipulating price in the market. This is a reality, you will not invest just for losing your money, isn't?

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March 04, 2018, 07:11:36 AM
 #27

I do not know exactly about this, but my analysis is due to service. How they should perform financial system updates for their clients who implement the cyrptocurrency system as a transaction. And of course BTC is the most common.

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March 07, 2018, 10:44:51 AM
 #28

It's common for corporates we'd business men to look for loop holes to increase their business as well as their profits. They know where the world is moving towards. They mostly try adopting current trend. They know where to invest and whom to attract through marketing or offering discounts or allowing crypto currencies as a payment. This doubles their profits when the value of bitcoin goes up.

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March 09, 2018, 03:54:40 PM
 #29

they believe that bitcoin will bring huge profits. Maybe that's the reason why big companies like Microsoft, paypal and others accept BTC as a means of payment

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March 12, 2018, 10:44:33 AM
 #30

they believe that bitcoin will bring huge profits. Maybe that's the reason why big companies like Microsoft, paypal and others accept BTC as a means of payment

and on top of that they just want to gain more, for big playes that money in bitcoin is not a risky move it just another way of investing
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March 21, 2018, 03:12:39 AM
 #31

I think big corporations accept bitcoin payments because it's both convenient, fast and highly profitable. Do you believe that investing in bitcoin after a night of waking up the interest rate is up to 300% and the fact so. Virtual play is richer than real gold. In April last year, Japan became the first major economy to officially recognize electronic money as a means of payment and property.

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March 25, 2018, 04:38:32 PM
 #32

Large corporations take bitcoin because they understand its prospective side and do not want to miss the moment to join the world trend.

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