Organizers of an upcoming bitcoin conference faced mild scrutiny this week after they stopped accepting cryptocurrency for ticket payments. It’s an understandable yet extremely ironic move that underscores the inconvenience that comes with these digital assets.
As pointed out by Bitcoin.com, the North American Bitcoin Conference has implemented a “no cryptocurrency” policy because of “network congestion and manual processing.” TNABC’s tickets page explains that the organization will continue to accept cryptocurrencies up to 14 days before each event; however, cryptocurrency transactions for last-minute ticket sales would not be possible because print deadlines.
Twitter couldn’t help itself:
“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,” Moe Levin, the conference’s organizer, told Bitcoin.com. “Ticket service providers like Eventbrite or others do not have crypto integrations yet. I think within a year companies like Coinpayments, and other payment providers will have better tools, and we will instantly integrate.”
The upcoming TNABC conference will take place from Jan. 18-19 at Miami’s James L. Knight Center. Last-minute tickets for the event are going for $1,000 each.
While some companies like Kodak and Hooters have embraced the cryptocurrency craze, others have steered away from it. Gaming platform Steam announced in December it would no longer accept bitcoin because of “high fees” and “volatility.” Microsoft, which began accepting bitcoin in 2014, suspended cryptocurrency transactions earlier this month due to instability; however, the company restored that option earlier this week.