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

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 shrewdsheep on Thursday January 25 2018, @09:16AM (1 child)

    by shrewdsheep (5215) on Thursday January 25 2018, @09:16AM (#627608)

    Maybe you are confusing the definition with the meaning. The definition of market cap is precisely the price of the last unit traded (the smallest possible fraction of a bitcoin, a single share, a euro cent, ...) times the number of existing units. You convincingly explain that the there might be little meaning to market cap in some cases, OTOH it is of use in many other cases (also in the Bitcoin case). The pro tip here is: also take into account volume.

  • (Score: 1) by tftp on Thursday January 25 2018, @04:24PM

    by tftp (806) on Thursday January 25 2018, @04:24PM (#627734) Homepage
    Not existing units, but traded units. It is important. The majority of BTC are not on the market. Were they all bought and sold - yes, then there would be some sense in counting them as traded. But that is not so, most are developers' supplies, and some are not even mined. The market cap is just not a good measure of BTC.