Comment · Tue, December 13, 2016
Circle Discontinues Bitcoin Support
Original post in this thread
MisterYouAreSoDumb · 14 points
So it looks like Circle just rage-quit Bitcoin today. They seem to be frustrated by the transaction limit issue the past year, and would prefer to move to their own proprietary blockchain currency called Spark. I think they are going to fail miserably, but we will see.
Circle removes ability to buy and sell Bitcoin as it doubles down on mobile payments
What this means is that anyone with a Circle account can no longer use it for the only real purpose it had. You can no longer buy/sell BTC, nor can you send the BTC already in your account to another wallet. This means that you cannot pay for orders via Circle anymore, which sucks. Unfortunately, the only real alternative with the same ease of use is Coinbase. So for now, we suggest using Coinbase to purchase your BTC. Then I would suggest using an intermediate wallet, like blockchain.info or Electrum, to actually pay for the orders. Coinbase has been a bit strict with closing people's accounts. So it is best to use an intermediate wallet for payments for the time being.
There are a couple other Bitcoin servi…
What they were answering
ghost_of_kalrand · 5 points
The dude was a huge Bitcoin fanatic, and just wanted to talk to people about it.
Anyone I know in the bitcoin world, if you tell them you're brand new, they will more than happily sit down with you for as long as you'll let them and talk to you about it. It's like they found this new magical thing, and they just don't understand why everyone doesn't think it's as awesome as they do. And not in that "I Do Crossfit/I'm a Vegan" kind of way either.
I know I'm personally a big proponent of Ethereum, and my way of kind of spreading it around is using Ether Cards as gift cards to the people I know who are a bit more technologically sophisticated, and offering to help them get set up. "It's like bitcoin, but better, and here's some to play with" perks an eyebrow with the right kind of person.
Speaking of, have you ever thought about accepting any crypto currencies other than bitcoin?
u/MisterYouAreSoDumb
That's for sure. Many of them are very passionate about it, and want to spread that. I wasn't new to Bitcoin, but I appreciate when people are passionate about things. I actually got into Bitcoin when it was early on, but stopped doing anything with it because mining had very little returns back then, and almost nobody accepted them. Hindsight is 20/20, and I was kicking myself for not realizing how big it would become once it started going nuts.
I have considered accepting other cryptocurrencies. However, the issue is lack of payment integrations, lack of stability/liquidity, and hassle for my accounting manager. Even right now, we have a ton of BTC in various wallets, since we have a hard time converting to fiat. I am fairly confident that Bitcoin will keep going up for the time being. So I am not too worried about losses. However, I am not as confident in the stability of other currencies in the space. We would need to immediately convert them to fiat for it to make sense. There are just so many other coins. Litecoin was the obvious one for a while, but now there is Ethereum, Ethereum classic, Dash, Lisk, etc. It's like a full time job trying to keep up with them, and monitor volatility/price.