The North American Bitcoin Conference, which shall be held subsequent week in Miami, has stopped accepting Bitcoin payments for ultimate minute ticket product sales, CNBC has reported.
The organisers of the conference attributed their dedication to neighborhood congestion and information processing.
“We have, and always will, accept cryptocurrencies for our conferences, up to fourteen days before the event,” the conference organisers, Keynote Events, wrote on the event’s website. “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.”
Keynote Events’ Moe Levin earlier suggested commerce website Bitcoin.com that his agency was engaged on integrating Bitcoin Cash (BCH) or totally different digital currencies with lower transaction prices into their ticketing system.
“We wish this was easier, but no ticketing options exist which can handle large volumes of ticket sales, and transaction fees on the Bitcoin blockchain exceed $30 at certain times of the day,” Levin talked about, as quoted by Bitcoin.com.
Slower transaction speeds and higher prices have prompted some retailers to rethink their positions on accepting Bitcoin as a price methodology. Last month, US on-line sport developer Valve Corp launched that it would no longer accept Bitcoin payments on its on-line sport distribution platform Steam. US tech massive Microsoft made a similar switch ultimate week, shortly suspending Bitcoin transactions on its on-line retailer because of “unstable” state of the cryptocurrency. However, the Windows maker later launched that the payments had been restored.
In presently’s shopping for and promoting, the Bitcoin price stood at $13,858.10, as of 09:35 GMT. The genuine cryptocurrency has misplaced zero.7% before now 24 hours, in accordance with data from Coinmarketcap.
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