On The (Un)Importance of Merchant Bitcoin Adoption

uber-accepting-bitcoin-july-2015Recently I wrote a news piece that reported that Uber had begun accepting Bitcoin payments.

Although I gave myself enough room to later back away from the statement, sure to clarify that I hadn’t confirmed this with Uber themselves yet, there is still a certain guilt that comes with being wrong about something. The whole community was misinformed by either a liar, someone having fun, or an Uber support agent. Whichever the case, sitting on the story and following up with Uber first would have been the way to go.

As it turns out, Uber is not accepting Bitcoin payments any time soon. Which is too bad, since the technologies would seem to go hand in hand. Until you consider their business model, which could easily incur more than the user had pre-paid. With Bitcoin, the price could jump in a 20-minute car ride, and the user would lose value that way. Not that that is the reason Uber is not

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