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Stripe is Dropping Bitcoin Support

posted by Fnord666 on Thursday January 25 2018, @12:43AM   Printer-friendly
from the and-so-it-goes dept.

canopic jug writes:

The payment service, Stripe, has ended its support for Bitcoin due to rising transaction fees and long confirmation times. Particularly the latter contribute to failed transfers. So Bitcoin is over as an experiment, and more are realizing that. However, the expectation is that some other cryptocurrency will become widely used, eventually.

Therefore, starting today, we are winding down support for Bitcoin payments. Over the next three months we will work with affected Stripe users to ensure a smooth transition before we stop processing Bitcoin transactions on April 23, 2018.

Despite this, we remain very optimistic about cryptocurrencies overall. There are a lot of efforts that we view as promising and that we can certainly imagine enabling support for in the future.

[ TMB Note: Yes, this will absolutely break our ability to accept BitCoin. Again. Which is fine this time as BitCoin transaction fees are now as high as the minimum price for a year's subscription. If you have a preferred alternative that we can accept without actually touching cryptocurrency, drop the info in a comment. ]

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  • (Score: 1) by khallow on Thursday January 25 2018, @05:47AM

    by khallow (3766) Subscriber Badge on Thursday January 25 2018, @05:47AM (#627565) Journal

    And like good tools, they perform a specific function very well — reliably transferring value between parties without those parties having to meet or even know each other.

    That trade (though not to the degree of anonymity that Bitcoin allows for) is the primary purpose of a currency. Even a hyperinflating currency has some ability to do that.