Bitcoin Conference Rejects Bitcoin Payment

by admin on January 17, 2018

34650723662_67960e417b_mThe North American Bitcoin Conference to be held in Miami next week has issued a statement on their website in regards to ticket sales no longer taking bitcoin payments. The conference had to shut down the cryptocurrency payments due to “network congestion and manual processing”, each transaction taking around 50 minutes.

Organizers had to close the payment system in order to reach print deadlines. Other disadvantages of cryptocurrency payment include lengthy processing times and increased transaction fees which, made it more problematic for the conference to accept Bitcoin payments.

The organizer Moe Levin wanted attendees to know that there are no other ticketing options which can handle the large volume of tickets sales and transaction fees as the Bitcoin blockchain exceed $30 at certain points of the day. Tickets programs such as Eventbrite are yet to have payment options that accept cryptocurrency.

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The conference organizers are hoping in a years’ time that there will be more global adaption in regards to cryptocurrency and have better tools for cryptocurrency payments.

Read the full story here

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