News
In recognition of Bitcoin Pizza Day, the first-ever real-world transaction using Bitcoin, Cointelegraph speaks with the crypto community about their historic BTC purchases.
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Bitcoin Payment News
Bitcoin, as any other type of established currency is, among other things, meant to be a method payment. As of yet, Bitcoin payments have not become widely used, though they are surely moving towards it. The Bitcoin payment process establishes a pretty high entry barrier
for users and pushes some potential users away. The small amount of accepters makes using Bitcoin as a means of payment an unnecessary option for most businesses. Still,
it might not be not wise to turn down a method of payment that is useful for some clients, since accepting payments though Bitcoin isn’t really that hard of a task. There are multiple guides on how to accept Bitcoin payments and secondary services have been made to ease in this task. Bitcoin payments were, for some time, slow and expensive, but the development of Bitcoin makes it easier and faster to use Bitcoin as an alternative to cash for regular, small purchases.
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A data analyst on the Isle of Man demonstrated how contactless payments work on Bitcoin’s Lightning Network using an NFC enabled Bolt Card.
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A class of 2021 Bitcoiner in Mozambique is using the Lightning Network to transact while using Bitcoin to protect his savings.
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“Taken together, these various new payment options, impressively, recently represented about 35% of our total online payments,” said AMC Theatres CEO Adam Aron.
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Gucci’s past efforts into Web3 have culminated with the brand accepting 12 cryptocurrencies at a few select stores, with a wider rollout planned for the future.
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Samson Mow, former chief strategy officer at Blockstream, is convinced that DeFi protocols can’t compete with Bitcoin as monetary networks due to their lack of decentralization.
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The researchers also found that Bitcoin is gaining ground compared to other payment methods in El Salvador.
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Okay Bears, a Solana-powered NFT topped OpenSea’s 24-hour sales charts on Thursday, while a South African fine-wine NFT auction takes off netting raising more than $180,000.
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When a Lamborghini owner didn’t have cash on them to pay for their repair job, they used Bitcoin to pay Kansas City welder JayFab.
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The new crypto law would reportedly allow citizens to pay their taxes in crypto and allow the use of crypto as a form of payment for businesses.
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The Ministry of Finance “partially supported” the proposition, adding that it needs further consideration.
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The average BTC transaction fee saw a steady decline from an all-time high of $62.788 in April 2021 before coming down.
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The company has partnered with Bitso and Bitpay to allow its users to pay for orders with Bitcoin and other cryptocurrencies.
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Sharyn Alfonsi, journalist and 60 Minutes correspondent, interviewed Mike Peterson, one of the people who funded the Bitcoin Beach project and encouraged crypto adoption.
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Attorney Kevin Thompson thinks that the event will make regulators frustrated, leading to the creation of reporting requirements for Shopify.
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