Bitcoin's slow network and rising transaction fees are becoming a roadblock for mass acceptance of the coin.
The North American Bitcoin Conference cited network congestion and manual processing issues as part of reason why the event's organizers made a decision to accept fiat payments only for last-minute bookings. They said that they hope next year brings "more unity in the community about scaling" and that "global adoption becomes reality".
The North American Bitcoin Conference is a two-day event, and speakers from around the globe, some of which are perhaps the most influential blockchain industry leaders, will discuss a number of popular topics that center around the cryptocurrency industry, such as ICOs, token sale mechanics, blockchain technology, and Bitcoin and Ethereum, which are two popular digital currencies.
'However, due to the manual inputting of data in our ticketing platforms when paid in cryptocurrencies, we chose to shut down bitcoin payments for last minute sales due to print deadlines'.
Moe Levin, the conference organizer, told Bitcoin.com that the organizers are "scrambling" to get bitcoin cash or a digital asset with cheaper fees integrated into the ticketing system. "Ticket service providers like Eventbrite or others do not have crypto integrations yet". According to tracking data from BitInfoCharts, the current average transaction fee sits at about $30.
Those fees have created a challenge for businesses that would like to accept Bitcoin transactions. Last-minute tickets for the event are going for $1,000 each. For smaller transactions, that fee could cost more than the item being purchased.
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