Home » Money

Bitcoin Spurned By Stripe

25 January, 2018, 01:16 | Author: Samuel Sharp
  • Bitcoin Spurned By Stripe

Now already apart from the fact that Stripe in itself won't be taking Bitcoin payments, this is an indication of the perception that businesses on Stripe have on Bitcoin too. Bitcoin comes closer in some ways to realizing that goal, yet one of the technology sector's most ambitious startups says the cryptoasset still has serious shortcomings. It began accepting Bitcoin transactions in March 2014, the first major payments company to do so.

It added support for the digital currency so that merchants who use Stripe could accept bitcoin for payments.

So far bitcoin is turning out to be more like digital gold than a currency for small or frequent payments. "By the time the transaction is confirmed, fluctuations in Bitcoin price mean that it's for the "wrong" amount", Karlo points out.

Fees to process a regular bitcoin transaction can be "tens of US dollars", making payments as expensive as bank wires. Combined, he said that all these issues had led bitcoin users to view the virtual currency as an "asset" to be traded, rather than something to make payments with.

Bitcoin Spurned By Stripe
Bitcoin Spurned By Stripe

He said: "Because of this, we've seen the desire from our customers to accept bitcoin decrease". In the same blog post, the company expressed support for the likes of OmiseGO and Ethereum, while also said it was interested in bitcoin's Lightning upgrade. He said he would be "more bullish" when the payment volume increases. But according to Stripe, it just isn't important as a currency.

"Over the past year or two, as block size limits have been reached, bitcoin has evolved to become better-suited to being an asset than being a means of exchange", the company said in a statement. Additionally, a drop in client demand for a Bitcoin payment option led to the company's decision.

While an early supporter of Bitcoin, Stripe is now having second thoughts. And of the businesses that are accepting Bitcoin on Stripe, we've seen their revenues from Bitcoin decline substantially. The company will stop working with bitcoin from April 23.

It added that it remains optimistic about cryptocurrencies and would continue to add support for them in the future. We may also think of steller if its use continues to grow while Bitcoin Cash and light coin would also be highly considered. And in October, Vietnam banned cryptocurrency payments, with the State Bank of Vietnam declaring that Bitcoin was not a legal payment method from the start of this year.


  • Zainab murder suspect to be presented in ATC Lahore today

    Zainab murder suspect to be presented in ATC Lahore today

    Zainab's brother, Abu Bakar said that the culprit should be given an exemplary sentence so that others like him get a message. He opined the court, while deciding the case under the law, might order public hanging of 24-year-old Imran, "the beast".
    Amazon Go: Amazon's automated grocery store is now open

    Amazon Go: Amazon's automated grocery store is now open

    An Amazon .com Inc. employee scans in to shop at the Amazon Go store in Seattle, Washington, U.S., on Wednesday, Jan. 17, 2018. Amazon has unveiled its view of the future of retail with the official opening of the company's next-generation store.
    Justice Ruth Bader Ginsburg Shares One Of Her Own #MeToo Experiences

    Justice Ruth Bader Ginsburg Shares One Of Her Own #MeToo Experiences

    When she took the real test, she found it was the same as the practice test. "And that's just one of the many examples". She has seen the 2016 Saturday Night Live "Gins-burn" parody, featuring Kate McKinnon as the black-robed justice.
  • IOS 11.2.5 Released With HomePod Support

    IOS 11.2.5 Released With HomePod Support

    Revealed at Apple's Worldwide Developers Conference ( WWDC ) in June 2017 , the HomePod smart speaker is keeping fans waiting. Powering the HomePod is an Apple A8 chip and the speaker is covered in a mesh fabric that looks like a crochet yarn.
    Mary J. Blige, More Earn Oscar Nominations

    Mary J. Blige, More Earn Oscar Nominations

    It's the 14th nomination for veteran Deakins, the fifth for Delbonnel, and the first nomination for Van Hoytema and Laustsen. Morrison's nomination is historic, as it's the first time a woman has ever been nominated in the cinematography category.
    Bud Light to Eagles: Philly Philly!

    Bud Light to Eagles: Philly Philly!

    Johnson responded at the time, tacking on the necessary clinking-beer-mugs emoji at the end. So far, Long and Johnson's tweets have not been answered by the Official NFL Shop account.
  • Trump Imposes 30% Solar Panel Import Tariff

    India has recently re-opened a USA dispute, alleging Washington has failed to comply with a ruling on solar power. Those countries export the bulk of washers to the United States.
    Iraqi court sentences German woman to death over joining IS group

    Iraqi court sentences German woman to death over joining IS group

    Baghdad declared victory against IS in December but the group has continued to carry out attacks including in the capital. Iraqi forces expelled the jihadists from the Iraqi city in July 2017 , ending three years of ISIS rule in the town.
    McDonald to replace Adams as Ireland's Sinn Fein chief

    McDonald to replace Adams as Ireland's Sinn Fein chief

    This morning Mary Lou McDonald officially became the next President of Sinn Fein , she officially takes over on February 10th. Meanwhile, Mr Adams has said that Sinn Fein wants to see an end to the year-long political stalemate at Stormont.
  • Tesla Crashes Into Fire Truck While Reportedly on Autopilot

    Tesla Crashes Into Fire Truck While Reportedly on Autopilot

    Tesla has since beefed up the alerts the vehicle will give a driver if it feels they aren't paying full attention to the road. The safety board did note in its report that the introduction of Tesla's Autosteer software had cut collisions by 40 per cent.
    Fans react to Patriots heading to Super Bowl 52

    Fans react to Patriots heading to Super Bowl 52

    Again, they ran Fournette, this time for a yard. "[Belichick] does that better than anybody, or certainly as good as [anybody]. We didn't put in all this work not to just get here and celebrate, man, we're gonna win. "We are not done yet", Pederson said.
    Dragon Ball FighterZ New Japanese Commercial Shows Android 21 Gameplay

    Dragon Ball FighterZ New Japanese Commercial Shows Android 21 Gameplay

    Using the power of the Unreal engine and the talented team at Arc System Works, DRAGON BALL FighterZ is a visual tour-de-force. The new female character is unique to the franchise in that she appears to be a mix of android and Majin, and possibly more.


You Will Soon Be Able To See Snapchat Stories On The Web
Instead, three types of stories will be available to share outside of the app: Official Stories , Our Stories and Search Stories . Snapchat is an app that I've been trying to avoid for some time, but it looks like that quest will soon be much more hard .

Palestinian MPs kicked out of Knesset during Pence speech
Trump became the first sitting United States president to visit the site when he travelled to Jerusalem in May 2017. It had proven that the United States was "part of the problem rather than the solution", he added.

Everyone's making the same joke about Arsenal's destruction of Crystal Palace
Second-half goals from Hazard and Victor Moses sealed victory . "He changed the game in England and he changed how Arsenal look". Chelsea's first win of 2018 saw Eden Hazard score twice, his opener and a goal from Willian making it 2-0 inside six minutes.

Facebook asks users to judge trustworthiness of news sources
It's a change aimed at ensuring "the time we all spend on Facebook is time well spent", said Facebook founder Mark Zuckerberg. Facebook CEO Mark Zuckerberg is calling on its users to help rank news sources on the platform, based on the metric of trust.

Kane scores 99th goal but Tottenham are held by Southampton
But try as they might, the away side were unable to find the back of the net again and had to settle for a solitary point. Mauricio Pochettino confirmed as much after the match, stating: "Players were affected last week but that's no excuse".

Steve Wilks named head coach of Arizona Cardinals
In Arizona , Wilks takes over the post previously held by Bruce Arians, who retired at the conclusion of the 2017 season. Wilks spent the first part of his coaching career in college, spending one season as head coach of Savannah State.

Wounded India get down to business again ahead of third Test
In tough conditions like these where there is not much between the two teams, you can not afford to give away wickets like that. But in future, the option of including more practice sessions in the schedule before overseas tours maybe considered.

International Monetary Fund releases quarterly update of global economic outlook
The fund said that changes to the USA tax code approved in December were responsible for roughly half of the boost to growth. Global growth forecasts for 2018 and 2019 have been revised upward by 0.2 percentage point to 3.9 percent, the update said.

This new Instagram feature is super creepy
This new feature also allows other Instagram users to know what your Instagram friends are doing in the app. You'll only be able to see the last seen status of people you follow or have direct messaged on Instagram .

Zimbabwe opposition chief dies in U.S. helicopter crash
Authorities in the US state of New Mexico say key Zimbabwean opposition leader Roy Bennett has been killed in a helicopter crash. Engulfed in flames, the wreckage of the helicopter registered to an aviation company linked to Burnett was spotted on a ranch.