Attending Bitcoin conferences can be quite expensive these days. In most cases, attendees will not spend ‘\real money” on a  ticket. Instead, they will purchase a ticket with Bitcoin itself. That is no longer possible for anyone looking to attend the North American Bitcoin Conference. The promoters cannot accept BTC due to high fees and network congestion. This is not a positive sign for the world’s leading cryptocurrency whatsoever. Using BTC is simply not efficient nor effective.

The decision by the North American Bitcoin Conference team makes a lot of sense. Although it pains to say this, BTC is not fast nor cheap or efficient. There are very few benefits to using Bitcoin right now. Especially when it comes to event tickets, using the world’s leading cryptocurrency makes little sense. Considering how this conference isn’t cheap to attend, the transaction fees would make it exuberant to buy a ticket. Not a positive development for this cryptocurrency whatsoever.

North American Bitcoin Conference Remains Popular

In fact, the North American Bitcoin Conference team was forced to halt Bitcoin payments. That in itself is problematic as well. Bitcoin payments are designed to be automatic by default. Unfortunately, it is both slow and expensive as of right now, with little improvement in sight. At the same time, the organizers plan to accept cryptocurrency payments in the future. However, they did not disclose which currencies those will be.

It is possible this a one-time decision. More specifically, there are print deadlines to adhere to when it comes to conference tickets. Using Bitcoin in its current form is too slow to take any risks. Once the network stabilizes and improves again, things will go back to normal for future conferences. We can only hope to see normal transaction fees by then as well. Some conference attendees paid $30 or more in fees. That is absolutely unacceptable in this day and age of Bitcoin development.

Luckily, it seems the North American Bitcoin Conference will go ahead as planned. There are no issues with any tickets and the public interest remains rather high. This Bitcoin payment issue is rather unfortunate, but the decision makes a lot of sense in the end. Sadly, the issues plaguing Bitcoin will remain present for quite some time to come. The world’s leading cryptocurrency has a lot of problems which need to be addressed. For now, there is no short-term improvement in sight.

Header image courtesy of Shutterstock

Tags: , ,

Leave a Reply

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.