21 May '13, 8am

Driving #Bitcoin adoption of wary merchants, afraid of losses during volatility. @CryptoStreet @gyft

Driving #Bitcoin adoption of wary merchants, afraid of losses during volatility. @CryptoStreet @gyft

Many merchants are still wary about accepting bitcoins, but new vendor partnerships and a maturation of the companies that handle bitcoin exchanges address some of the virtual currency's riskier aspects. Bitcoin is a decentralized cryptocurrency, offering users cash-like traits online. The digital currency has struggled to vindicate its bad reputation and suffered extreme price fluctuations as a result of exchange hacks. Even Bitcoin devotees like BeesBros , a bee-keeping family business in North Logan, Utah, recently got stung. Craig Huntzinger "Bitcoin is a significant chunk of our sales … some of the sales that happened when the price was high we kept in bitcoin so it was a bit of a loss," says Craig Huntzinger, who owns the company with his wife and children. Huntzinger estimates that 25% of BeesBros business is done in bitcoins annually. "Our sales are small so it's k...

Full article: http://www.paymentssource.com/news/why-some-merchants-acc...

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