The irony of a conference that is dedicated to all things cryptocurrency that is not able to accept bitcoin payments for the conference tickets is glaring.
On the ticketing page of the North American Bitcoin Conference — where last-minute tickets costs USD 1,000 for the event that is scheduled to be on January 18-19 in Miami — an explanation for the “no cryptocurrency” policy notes “network congestion and manual processing.”
Just to be fair, the processing fees are high for bitcoin. There is a fluctuation in the price, but it has gone up in recent months, reaching an average that is as high as $55. This week, it is closer to $30. As reported by Bitcoin.com, an increasing list of merchants is pulling back from payments using bitcoins as it is not a quick and easy transaction system.
Also, bitcoin — no matter how hard people try — is not considered as a transaction coin. It is more about the cryptocurrency’s stored value. Instead of treating bitcoin like dollar bills that are stored in a virtual wallet, it must be viewed more as an asset — something that people would not pull out for any old purchase.
Still, the optics are not good on this, and it shows the limitations that bitcoin and all other cryptocurrencies face to become more mainstream.