The irony of a conference dedicated to all things cryptocurrency that’s unable to accept bitcoin payments for conference tickets is glaring.
On the North American Bitcoin Conference ticketing page — where last minute tickets are $1,000 USD for the Jan. 18-19 event in Miami — an explanation for the “no cryptocurrency” policy cites “network congestion and manual processing.”
SEE ALSO: Here’s what you need to know before you buy bitcoin
To be fair, processing fees are high for bitcoin. The price fluctuates, but it’s gone up in recent months, reaching an average as high as $55. This week it’s closer to $30. As Bitcoin.com reported, a growing list of merchants is pulling back from bitcoin payments. It’s not a quick and easy transaction system.
Also, bitcoin — no matter how hard we try — is not a transaction coin. It’s more about its stored value. Instead of treating it like dollar bills in a virtual wallet, it needs to be viewed more as an asset — something you wouldn’t pull out for any old purchase.
Still, the optics aren’t good on this, and show the limitations bitcoin and other cryptocurrencies face to become more mainstream. Cue the “not the Onion” jabs and bubble-bursting predictions.
NOT THE ONION: Miami Bitcoin Conference Stops Accepting Bitcoin Due to Fees and Congestion https://t.co/jmF5g9qfne
— Quoth the Raven (@QTRResearch) January 10, 2018
Wake up and read the signs people, #Bitcoin Segwit ($BTC) has lost its utility, its own conference will not accept as payment; get out while you're ahead $BTCUSD https://t.co/umrH1ftClz
— gonzobreakout (@gonzobreakout) January 10, 2018
Yes we’re doing so well when even the most renowned Bitcoin conference can’t accept Bitcoin anymore because of high fees
— Graham (@g_r_a_h_a_m_p) January 10, 2018
Due to network congestion and manual processing, we have closed ticket payments using Cryptocurrencies — Hopefully, next year there will be more unity in the community about scaling and global adoption becomes reality.
We have, and always will, accept cryptocurrencies for our conferences, up to fourteen days before the event. However, due to the manual inputting of data in our ticketing platforms when paid in cryptocurrencies, we decided to shut down bitcoin payments for last minute sales due to print deadlines.
Original article and pictures take kursat.org site
