Bitpay Payment Processor Gets Labeled as Hostile to Bitcoin By Blockstream’s Samson Mow
Earlier this week we had reported about At&t announcing that it will be the first firm to accept online bill payments through BitPay, one of the most popular cryptocurrency payment processors. In this way, AT&T became the first major U.S. mobile carrier that provides a crypto payment option to its customers.
The crypto option isn’t being extended to other AT&T services, such as buying phones or other devices, and as of yet BitPay won’t work in AT&T’s storefronts. That said, the company noted in a statement that its customers use cryptocurrency and that the new offering is intended to give them their preferred option.
Pomp took to Twitter to say:
“AT&T just announced that they will now accept Bitcoin for bill payments. There are only 21 million. Everyone is trying to accumulate Bitcoin”
Although not everyone agrees with this, a Twiter user replies to Pomp by saying:
“AT&T is not trying to accumulate bitcoin. They’re accumulating fiat, using the bitcoin-hostile payment processor BitPay, who, with these profits, can continue existing as cancer on BTC. Sorry Pomp, this is a bad take.”
Blockstream’s CSO, Samson Mow joined the conversation by saying:
“They’ve tried to externalize their business costs onto the #Bitcoin network 4 or 5 times by supporting hostile forks.”
As of now, it’s a safe bet to assume that crypto payments will probably remain a small minority of AT&T’s customer payment mix for the near future. That’s thanks to everything from the general public’s unfamiliarity with the digital asset to obstacles like its fees and high volatility, the latter being two of the most frequent criticisms you hear.