What's the fate of BTC payment now

[Smartvirus]

With the focus on accepting bitcoin and having a long term plan for them coins except otherwise,  you've got little or no reason to worry t your end.  At the very least, your at the receiving end and not the one sending them bitcoins and there isn't any fee for that. It'more of a customer thing as they are the once sending them bitcoins which puts them responsible for the fees.

Where it raises a little concern is;
1. You having to lose your customers (that's those that prefer bitcoin payment in this time of high fees)
2. Should a customer still proceeds to make payment in bitcoin, you've got the issue of mempool congestion and confirmation time.
3. Should the bitcoin constitute your capital and making withdrawals is the means to refilling stock, you get to face the high fees as well.

These are te concerns you might face as a merchant that is accepting bitcoin but, you could as well take payment in fiat for an alternative. It isn’t a use or die medium.

[Flexystar]

also make weekend payment abd study when the mempool is not congested.

It is partially true only.

During weekends, there are less demand for transactions than intra-week days (working days) so usually you will have less waiting transactions in mempools during weekends. But it does not mean mempools always are not overloaded in weekends. The network can be congested a few weeks or months and if you fall into such periods, mempools will only get cleared a little bit but still likely congested.

Read more about weekend effects

• Guide to check fees: Taker, maker, deposit, withdrawal, transaction fees

Whether it’s lower on weekend or higher on intra week, I think his business and customer won’t look at the calendar and then do the transaction. That would be dramatic to see. Like someone would come on Monday and say to hey hi bob, Are the fees still up? If yes then let me come by weekend to check if the fees are lesser. Lolz.

This would be for sure no way to go around it. However, as @tranthidung stated above the Lightening network, no one can ever doubt that. I only have one concern about use or LN, whether buyers would change their way to go around it? What if they just stick to what they have, like bitcoin and still keep complaining about it?

The solution should be worked from the deep roots such as bitcoins core and blockchains mechanism. I’m not sure if devs have already discussed or not but that seems impossible otherwise we would have never been discussing this today.

[WillyAp]

Is there any business owners accepting Bitcoin still? How are you doing it? Is there any way to go around this? I will appreciate, because I don't want to stop accepting Bitcoin, I have my long term plan and accepting Bitcoin as payment have helped so far.

Due the higher fees, longer transfer rates We found a better or more practical way to get paid.
Litecoin is as decentral as Bitcoin and has a fast payment ratio,

[Faisal2202]

For the first time since 2022 I have officially put an end to Bitcoin payments on my business until further notice, I have gave few people some ....

I am not involved in any business that directly accepts payments in BTC but i still have concerns for them for example, at the micro level, we accept payments in BTC and sometimes i think about how would they manage them, as per transaction costs around 3$ as of today, but a few days back the transaction were costing more than $20 and it was hell lot of money, and now i read your post and after reading replies i can assume, it is difficult to face huge transaction fee for business that can't afford them because. i have seen many platforms making transactions in these situations too and many halted them.

But as Dr_Strange has suggested you to not put an end to BTC as a payment method but just put a temporary halt on it, because this ordinal problem will eventually sort out and fees are already decreasing so i think you should not permanently halt it instead halt it temporarily.

[serjent05]

For the first time since 2022 I have officially put an end to Bitcoin payments on my business until further notice, I have gave few people some discount advantages to spread news about Bitcoin and now I am not so sure anymore, I can't even afford $5 per Bitcoin transaction, and also my customers that are surety when it comes to Bitcoin payment have all halt.

Ordinals looks like it's here to stay, I don't believe that Ordinals is like ICO because they are different. And Ordinals came in a bear market, imagine what this will do to Bitcoin in a bull market.

Is there any business owners accepting Bitcoin still?

Gambling platforms are still accepting Bitcoin and so far they are doing fine.  Exchanges and other company that have good reserved funds still process Bitcoin transactions.

How are you doing it? Is there any way to go around this? I will appreciate, because I don't want to stop accepting Bitcoin, I have my long term plan and accepting Bitcoin as payment have helped so far.

There are suggestions about the use of the lightning network, it may solve the confirmation and fee issue but obviously, you have to look for an exchange that has lightning network transactions open.  You can also use a legit application where internal transfers are free for example, sending funds from one Binance account to another Binance account is free.  Then from there you can convert the payment to your fiat currency through P2P  so there is no need to transfer BTC on and pay for the expensive transaction fee.

[Yatsan]

Is there any business owners accepting Bitcoin still? How are you doing it? Is there any way to go around this? I will appreciate, because I don't want to stop accepting Bitcoin, I have my long term plan and accepting Bitcoin as payment have helped so far.

This is the unfortunate reality. I have seen small businesses in my country before, who accepted cryptocurrencies as a mode of payment but eventually decided to stop doing so. There are many reasons; convincing them to do so by giving discount, the fear of losing due to market volatility and such. For now, I think it is better to accept that this industry is not ready yet for such change. It is okay on the other hand to use Bitcoin and other crypto as an investment because it is a profitable one especially if you could manage the risk and make use of the market price volatility.

Let us wait for further improvements and developments in general. Regulation in the first place is struggling to be implied so what more of merchants encouraging people to use crypto as a mode of payment. We'll get into it maybe not today but someday.

[taufik123]

-snip-
The solution should be worked from the deep roots such as bitcoins core and blockchains mechanism. I’m not sure if devs have already discussed or not but that seems impossible otherwise we would have never been discussing this today.

the root of the problem is known, it must be fixed immediately. The Bitcoin network must stay on its corridor and not be added with accessories that make the network worse. Dev will certainly think of the best way out. if not immediately overcome this problem, Bitcoin will be increasingly deserted by users.

And the Lightning network is the future of Bitcoin, but there are still few developers.
Even though the Lightning Network service is faster, more efficient, and more efficient.

and Hope that business people who use Bitcoin payments keep it up and can move to the Lightning Bitcoin network.
It's just a matter of time and the Bitcoin network will return to normal with fees that are also normal.

[qwertyup23]

For the first time since 2022 I have officially put an end to Bitcoin payments on my business until further notice, I have gave few people some discount advantages to spread news about Bitcoin and now I am not so sure anymore, I can't even afford $5 per Bitcoin transaction, and also my customers that are surety when it comes to Bitcoin payment have all halt.

Ordinals looks like it's here to stay, I don't believe that Ordinals is like ICO because they are different. And Ordinals came in a bear market, imagine what this will do to Bitcoin in a bull market.

Is there any business owners accepting Bitcoin still? How are you doing it? Is there any way to go around this? I will appreciate, because I don't want to stop accepting Bitcoin, I have my long term plan and accepting Bitcoin as payment have helped so far.

Op the transaction fee of bitcoin has come down so your business customers can continue the payment method of bitcoin. The fee price as for now is 0.00002963. the only bad news right now the price of bitcoin. Bitcoin price right now is $26,400.
You giving discount for bitcoin payment can't spread the news of bitcoin but can only give the news of your business. With the transaction fees in bitcoin, you can't give discount on bitcoin payment but you can give a bonus. Your bitcoin acceptance business is not clear to me. The thread is looking for another thing here.

There are other ways in order to combat high transaction fees. I agree- it is heavily congested which resulted to high fees nowadays but one way in order to combat this kind of problem is by switching your payments from weekly to bi-weekly. With this, you can save at least some money in the process if you send/use BTCs regularly. In this way, you can mitigate the costs as this would impact your business.

While this may be the current state, I do think that this is only temporary- it will not last that long that TX fees are high on the market. Everyone is currently facing this world-wide problem and everyone is also thinking of solutions to at least reduce the cost.

[Ben Barubal]

     The ordinals are not the same as the ico because during the peak of the ico way back 2017 the fees of bitcoin were not this high when you make a transaction with it. It's nonsense saying it's just like ico it's a big lie.

     Apart from that, I thought that if the developers of bitcoin don't really do that, it is not unlikely that all the merchants who accept bitcoin as payment options in their business will actually remove it because the fees are expensive.

[Bitcoin_people]

It is not your fault that you have stopped trading due to higher transaction fees in Bitcoin. However you pause at the moment, resume later. Bitcoin is not really doing much business as it stands now. Transaction Free was having a lot of problems but now it is back to its previous position. However, it may take some time for Bitcoin transactions to be processed and normalized, so you can continue trading now. At the moment, Bitcoin transaction fees are much lower than before. But I think it would be better if you don't trade in bitcoins for your low priced products but trade bitcoins for the more expensive ones. If you do this, you will not have to shut down Bitcoin transactions for military time but will always be able to keep Bitcoin transactions open.

[Adbitco]

For the first time since 2022 I have officially put an end to Bitcoin payments on my business until further notice

You should announce it in your business thread instead of creating a new thread (this one) for the announcement. In future, if you want to resume your business, make another announcement in that thread, not create another new thread.

I have gave few people some discount advantages to spread news about Bitcoin and now I am not so sure anymore, I can't even afford $5 per Bitcoin transaction, and also my customers that are surety when it comes to Bitcoin payment have all halt.

I could be wrong but do you have a business and accept Bitcoin as a payment method. So (assume it is true), your customers will have to make on-chain transactions to send their bitcoins to your wallets. They bear the transaction fee, not you. Correct me if I am wrong with my theory.

Is there any business owners accepting Bitcoin still? How are you doing it?

Big or small, you can always receive bitcoins. Problems appear only if you are senders and have to pay transaction fees.

Is there any way to go around this?

Lightning Network.

• Basics of the Lightning Network
• Electrum Lightning Network walkthrough
• Youtube video on Lightning Network
• Overview of lightning network nodes owned by forum users
• The Lightning Network FAQ
• A fortnight of lessons on the lightning network

I think what op is trying to say is that it might be to high for his or her customer to afford the transaction fee if they wants to pay through bitcoin, as for op he only receives payment but at the other end he might finds it very difficult to confirm payment immediately after their clients pays through bitcoin since the network congestion taking too long.

However, op I don't think this would last long just have patient after awhile transaction will be normal.

[mindrust]

For the first time since 2022 I have officially put an end to Bitcoin payments on my business until further notice, I have gave few people some discount advantages to spread news about Bitcoin and now I am not so sure anymore, I can't even afford $5 per Bitcoin transaction, and also my customers that are surety when it comes to Bitcoin payment have all halt.

Ordinals looks like it's here to stay, I don't believe that Ordinals is like ICO because they are different. And Ordinals came in a bear market, imagine what this will do to Bitcoin in a bull market.

Is there any business owners accepting Bitcoin still? How are you doing it? Is there any way to go around this? I will appreciate, because I don't want to stop accepting Bitcoin, I have my long term plan and accepting Bitcoin as payment have helped so far.

There isn't much you can do at this point. You can try using the lightning network or use some other altcoin which is cheaper. If you want to continue using bitcoin then LN is the way to go. If you want to do it on the first layer then you will have to wait for the devs to fix ordinals and that time may never arrive. Maybe they don't even think something is broken right now. Have you considered this possibility? Because I have seen users in the forum saying exactly that.

[Despairo]

What's the relation between BRC-20 tokens price with Bitcoin bull run? it's not actually make the BRC-20 tokens would create new ATH.

I disagree with you for saying BRC-20 tokens is different with ICO, it's same where the token has no use case and the price is greatly influenced by hype, after the hype ends, ICO slowly dead. Now the BRC-20 hype already over, the price is really greatly decreased and the Bitcoin mempool is back to normal.

And with the problem of high fee, why you're stop accepting Bitcoin payment? when you can keep accept it even no one want to pay with Bitcoin? it's not make sense how you're want to stop accepting Bitcoin.

[ethereumhunter]

It's okay to pause accepting Bitcoin payments to your business until things become more stable. You can put the notification in front of the cashier so that people who want to use Bitcoin can know about it.

I don't know if business owners still accept Bitcoin because, with the increase in transaction fees, they will also be in the same predicament as you. But you can use altcoins or even stablecoins to accept payments via crypto still. And once everything is back to normal, you even have multiple payment options via crypto. And it can open people's eyes to the fact that in crypto, there is not only Bitcoin but also stablecoins and altcoins.

[Merit.s]

Ordinals looks like it's here to stay, I don't believe that Ordinals is like ICO because they are different. And Ordinals came in a bear market, imagine what this will do to Bitcoin in a bull market.

Is there any business owners accepting Bitcoin still? How are you doing it? Is there any way to go around this? I will appreciate, because I don't want to stop accepting Bitcoin, I have my long term plan and accepting Bitcoin as payment have helped so far.

The ordinals are temporary, so you shouldn't be discourage at this time,every business has its own ups and down, I guess this part of the challenge that your business is facing for accepting bitcoin as an alternative method of payment. The ordinals has reduced drastically because yesterday night,I did a transaction and the fee was as low as $1,which I didn't expected it and in 15mins,my transaction was successful. The bitcoin blockchain congestion will reduce to the minimal and everything will go back to normal. From the look of things by next week end,transactions on the blockchain will be cheaper than today. I also have a business that I accept bitcoin,what I did was to explain to my customers that pays in bitcoin about the recent ordinals attack on bitcoin blockchain and its effect on bitcoin transactions. I advised them not to make use of bitcoin and use fiat or that any bitcoin transaction should be delayed till when the blockchain is free from congestion. They were happy with the advice.

[fuguebtc]

-.-
I will appreciate, because I don't want to stop accepting Bitcoin, I have my long term plan and accepting Bitcoin as payment have helped so far.

You don't have to stop accepting bitcoin for your business, what's going on will be resolved soon. Ordinals are just a fleeting trend like any other, it will soon be forgotten when the hype is gone. In my locality, people were excited about this new trend, but it cooled suddenly after bitcoin dropped to $26,000 yesterday. It shows people are entering Ordinals with a quick money mentality and will exit soon if the trend stops being hyped.
But what is happening now poses a challenge for the future of bitcoin as there will be other similar trends hitting the bitcoin network again. I hope the developer has a radical solution to this problem soon.

[Stella Mese]

yes, indeed with the existence of expensive btc fee transactions it will definitely affect businesses that accept payments using btc,

and for a while there is certainly nothing wrong if you stop paying using bitcoin,
and if the btc transaction has returned to normal, you can resume receiving payments using btc.
so in this case you have to be able to set a strategy and of course you have to have a profit from your business.

[glendall]

payments with btc will continue if one store continues to provide its payment system, with a large fee I think customers will understand this problem. You can suggest other alternatives and not stop paying with btc itself

[Minecache]

Bitcoin is also an optional solution, it is not the primary payment method for your business, and I guess not too many people will use it as a payment solution. It's not too big of a problem for your business, more importantly, how to keep revenue is an important thing that you need to care about.

As for the spike in transaction fees, I don't think this problem will last long. I think it will be back to normal soon so you don't need to worry and all you need to do is wait, everything will be fixed soon.

[JayTrain]

It's understandable that as a business owner, you need to prioritize financial stability and viability. While Bitcoin may have its advantages, it's important to assess the risks and costs associated with accepting it as a form of payment. It's always good to explore alternative payment methods and see what works best for your business.