Digital Platforms should accept Bitcoin - Makes more sense

[Antonas1]

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.

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
2. Steemit
3. DTube

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[nasipadang]

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.

[alexandr1115]

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!

[Leviathan.007]

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.

[Stalker22]

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.

[Artemis3]

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.

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.

[Tanvi50_]

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.

[Rengga Jati]

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?

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.

[GreatArkansas]

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.

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.

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.

[dansus021]

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

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?

[Antonas1]

-snip-

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

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

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

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.

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?

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.

[akuntester1]

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.

[gantez]

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.

[Pandu Geddon]

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.

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.

[coupable]

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.

[drwhobox]

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.

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

[BitDane]

Why are they lagging behind the sole idea of it?

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.

[Flexystar]

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.

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.

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.

[SirLancelot]

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.

[Yatsan]

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.

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.

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.

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.