Big Business pressing Bitcoin?

[andhovesyan]

Just heard that Microsoft removed BTC payment from Microsoft store, also Master Card and Visa made some changes in their policies. It's easy to see that exchanges have more issues with fiat deposits then a year ago. And now I'm not sure that high traffic was caused for sign ups to be closed.
Is this a new campaign against BTC?

[1714023615]

1714023615

[jseverson]

There is no grand campaign against Bitcoin.

Microsoft, like Steam, killed off the Bitcoin option because of the volatility, and how expensive the fees are. It simply stopped making sense from a financial standpoint. They also didn't rule out accepting Bitcoin again in the future. Also, I know Bill Gates doesn't control Microsoft anymore, but he's actually really positive about Bitcoin and cryptocurrencies in general.

I don't know about Mastercard, but the uproar about Visa was caused by Wave Crest, a crypto debit card provider, apparently violating some terms of its agreement with Visa. Visa stopped catering to Wave Crest, so that in turn ended some crypto debit card programs. There are other Visa crypto debit cards, apparently.

Exchanges simply can't cater to the explosive growth. I'd rather they stop registration than biting off more than they could chew, which could cause more harm.

Everything has a clear explanation as you can see, so rest assured.

[GoldMen]

I doubt it very much, I think that in any case it is a strategy to implement your own cryptocurrency and you are sure that people will bet on it because they are big companies worldwide

[andhovesyan]

There is no grand campaign against Bitcoin.

Microsoft, like Steam, killed off the Bitcoin option because of the volatility, and how expensive the fees are. It simply stopped making sense from a financial standpoint. They also didn't rule out accepting Bitcoin again in the future. Also, I know Bill Gates doesn't control Microsoft anymore, but he's actually really positive about Bitcoin and cryptocurrencies in general.

I don't know about Mastercard, but the uproar about Visa was caused by Wave Crest, a crypto debit card provider, apparently violating some terms of its agreement with Visa. Visa stopped catering to Wave Crest, so that in turn ended some crypto debit card programs. There are other Visa crypto debit cards, apparently.

Exchanges simply can't cater to the explosive growth. I'd rather they stop registration than biting off more than they could chew, which could cause more harm.

Everything has a clear explanation as you can see, so rest assured.

Thanks for explanation)))
Do you think that corps, banks and governments have already come down with "future of cryptocurrency"?

[helars2008]

For me it is just normal for business entities to protect their own welfare.
As of now we cant deny the fact that using bitcoin will cost you a huge transaction fees.
Another reason maybe the downtrend in bitcoins price this past days, corporations may just be wanting to incur loses due to this.

[tomahawk9]

According to some sources, Microsoft has restored the bitcoin payment after reaching an agreement with their provider (most likely Bitpay).
source: http://www.news.com.au/finance/business/technology/microsoft-restores-bitcoin-payments-after-working-to-ensure-lower-amounts-would-be-redeemable/news-story/1c875957f470944709497dcfa6ec5fd2
but of course, this won't get a lot of press coverage because the media only cares about the negative news about bitcoin.

Either way, with all the problems bitcoin is facing, I doubt any big company wants to implement bitcoin as a payment method. And not only BTC but also other cryptocurrencies since most of the time the usual statement against adding bitcoin (aside from high fee and long confirmation times) is volatility, something that every cryptocurrency faces in the crypto market.

[yojodojo21]

Because those business have issues with payment through BTC, some other account Holder of Microsoft pays in bitcoin with their credit cards not by using their own ATM, and there are some issues that those credit cards were closed and can't pay the debt, so it was an  argue between the acceptance of payment especially on Microsoft and steam.

[focmere]

Just heard that Microsoft removed BTC payment from Microsoft store, also Master Card and Visa made some changes in their policies. It's easy to see that exchanges have more issues with fiat deposits then a year ago. And now I'm not sure that high traffic was caused for sign ups to be closed.
Is this a new campaign against BTC?

It might be, it might just be. Microsoft and Steam might now be evil, but when it comes about Master Card, Visa and the Banks, I have second thoughts. I think they are trying to restrict the people because they know it's gonna afffect the, BIG TIME!

[jseverson]

There is no grand campaign against Bitcoin.

Microsoft, like Steam, killed off the Bitcoin option because of the volatility, and how expensive the fees are. It simply stopped making sense from a financial standpoint. They also didn't rule out accepting Bitcoin again in the future. Also, I know Bill Gates doesn't control Microsoft anymore, but he's actually really positive about Bitcoin and cryptocurrencies in general.

I don't know about Mastercard, but the uproar about Visa was caused by Wave Crest, a crypto debit card provider, apparently violating some terms of its agreement with Visa. Visa stopped catering to Wave Crest, so that in turn ended some crypto debit card programs. There are other Visa crypto debit cards, apparently.

Exchanges simply can't cater to the explosive growth. I'd rather they stop registration than biting off more than they could chew, which could cause more harm.

Everything has a clear explanation as you can see, so rest assured.

Thanks for explanation)))
Do you think that corps, banks and governments have already come down with "future of cryptocurrency"?

It largely depends on the entity. You would think all banks would all be against crypto because it could threaten them in the long run, but some like Goldman Sachs (granted, it's an investment bank) are actually willing to jump on the bandwagon. Some companies are also open to them, just as Steam and Microsoft showed by accepting Bitcoin for as long as it was practical. Governments like Japan are supportive, while governments like China are restrictive. No one can really declare Bitcoin as the future yet, especially with all these problems, but the world is eagerly watching.

According to some sources, Microsoft has restored the bitcoin payment after reaching an agreement with their provider (most likely Bitpay).
source: http://www.news.com.au/finance/business/technology/microsoft-restores-bitcoin-payments-after-working-to-ensure-lower-amounts-would-be-redeemable/news-story/1c875957f470944709497dcfa6ec5fd2
but of course, this won't get a lot of press coverage because the media only cares about the negative news about bitcoin.

Either way, with all the problems bitcoin is facing, I doubt any big company wants to implement bitcoin as a payment method. And not only BTC but also other cryptocurrencies since most of the time the usual statement against adding bitcoin (aside from high fee and long confirmation times) is volatility, something that every cryptocurrency faces in the crypto market.

Woah, awesome news! Rip FUDers lol.

[Raymonds]

I am also curious about this issue, which is not a good sign for the cryptocurrency market when more and more companies are rejecting bitcoins.

[mOgliE]

Yeah, everyone is acting against bitcoin... 

I think you should not worry that much! Indeed, I guess that some institutions (such as large corporate banks for example) do not see the rise of bitcoin as a good news... But, for the moment I think they don't care that much.

So, indeed, deleting such payment method from Microsoft or Visa offer can be part of a banking strategy in order to limit the influence of bitcoin and growth of the corresponding community.

But regarding traffic, rates? Definitely, not a strategy. Just the effects of what bitcoin is currently for many people: a mere tradng tool.


For the moment, banks don't have to stop the bitcoin... Because actually bitcoin users themselves prevent it from becoming what it may become!

[fatogre01]

The move of this big companies I think is because of the arising problems in bitcoin. As we can see and feel, fees are very high and tx confirmation is very slow.

[Yaunfitda]

According to some sources, Microsoft has restored the bitcoin payment after reaching an agreement with their provider (most likely Bitpay).
source: http://www.news.com.au/finance/business/technology/microsoft-restores-bitcoin-payments-after-working-to-ensure-lower-amounts-would-be-redeemable/news-story/1c875957f470944709497dcfa6ec5fd2
but of course, this won't get a lot of press coverage because the media only cares about the negative news about bitcoin.

Either way, with all the problems bitcoin is facing, I doubt any big company wants to implement bitcoin as a payment method. And not only BTC but also other cryptocurrencies since most of the time the usual statement against adding bitcoin (aside from high fee and long confirmation times) is volatility, something that every cryptocurrency faces in the crypto market.

If this is true then Microsoft is really pushing bitcoin to gain mainstream. Them stops accepting bitcoin just a few days ago took the market to another dip, although its says that is only temporary. Maybe this is want they are doing behind, working with provider, which I have to agree that it will be Bitpay.

Steam as I have said that volatility and the high cost of transaction was the main reason behind shutting down it acceptance of bitcoin. But if they would do the same route as Microsoft (trying to give a service provider), I'm sure that they will start accepting bitcoin in the future.

[Crypto Girl]

Those actions (in my opinion) might be because of the pressure they have got from the government authorities, the real personalities behind the movement against the Bitcoin are those government authorities, they wanted to stop the mass adoption of the Bitcoin because it is decentralized and the government never got any tax from this.

[dificanovi]

Just heard that Microsoft removed BTC payment from Microsoft store, also Master Card and Visa made some changes in their policies. It's easy to see that exchanges have more issues with fiat deposits then a year ago. And now I'm not sure that high traffic was caused for sign ups to be closed.
Is this a new campaign against BTC?

I also think like you, I think this is one way for big companies against bitcoin. I hope in the coming year the company receives bitcoin. I am very anxious if bitcoin is not accepted by all companies, bitcoin prices may decrease in case it happens.

[last7minutes]

Just heard that Microsoft removed BTC payment from Microsoft store, also Master Card and Visa made some changes in their policies. It's easy to see that exchanges have more issues with fiat deposits then a year ago. And now I'm not sure that high traffic was caused for sign ups to be closed.
Is this a new campaign against BTC?

I do not think that large companies are acting against bitcoin, just a commission for transactions is too high and they do not want to risk their business so much. Better use bitcoin as an investment asset.

[mahboob123]

BIG business is bitcoin trading in bitcoin exchange and earn huge profit