Payment operator Stripe refuses Bitcoin

Payment Processor Stripe to End Support for Bitcoin

The payment operator Stripe announced that it will leave bitcoin within the next three months and completely abandon it on April 23. This was reported by product manager Tom Carlo in the company’s official blog.

Stripe began supporting bitcoin transactions in 2015, providing access to payment in bitcoins for more than 60 countries. However, a long time of transaction processing, an increase in the number of unsuccessful transactions and growing charges made bitcoin less popular among Stripe users: “Bitcoin is losing relevance for our users. Cooperating trading companies also began to receive less revenue from bitcoin, “- says Carlo.

Tom Carlo noted that Stripe “optimistically looks at crypto-currencies in general” and, possibly, in the future will support more altcoins, including stellar, if the coin becomes more popular. In addition, he sees a perspective in such projects as Lightning, OmiseGO, Ethereum, Bitcoin Cash and Litecoin.

Many network users supported the service solution:

Payment operator Stripe refuses bitcoinBitcoin was great, revolutionary even but there’s faster, cheaper and more versatile #cryptocurrencies out there now. It’s time to make way for the new kids on the block#StellarLumens #Ethereum

Although some consider this a short-sighted act on the eve of Lightning and other scalability solutions for the Bitcoin network, most users still believe that there are many cryptocurrencies that can compete with bitcoin.

alex van de sande‏


There’s no way to present this Stripe news as good news. We are basically telling all early adopter merchants that they did it the “wrong way” and now have to retool to add lightning network. But they’re not. They’re not moving to Bitcoin cash (or other) either. They’re leaving

Don’t spin this turkey as “it’s not meant for payments it’s something else”, it means we’ll have to wait until the ecosystem is ready again and then te-evangelize everyone a second time when fees are low again. It applies to all coins, ethereum is not “ready” either.

The block limit should have been raised two years ago, before any of this became real problems, and we’d have bought time. But some people FUD’ed about imaginary future problems to sell a future solution that wasn’t ready and created huge real issues on the present. /rant

alex van de sande @avsa

In early December, the bitcoin-payments were declined by the Steam game service. Also the transition from Ethereum block to Stellar had already announced the CEO of Kik messenger Ted Livingston. According to him, Ethereum “tries to be everything for everyone”, too overloaded and no longer satisfies the needs of the application with 10,000 users.

Payment operator Stripe refuses bitcoin

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