Roger Stringer   About ▾

I'm Roger Stringer, a DevOps engineer, full-stack developer, author, foodie, speaker, dad. Founder of Flybase.

Stripe is giving up on bitcoin as a payment method

Links

Theodore Schleifer:

Stripe, which four years ago said it would become the first major online payments platform to accept bitcoin for payments, is ditching the idea.

The company said Tuesday that the cryptocurrency had almost become a victim of its own popularity — the time needed to complete a transaction has increased, meaning that payments sometimes fail. And the rise in transaction fees helped convince Stripe that bitcoin is meant to be more of an asset and less of a currency for daily payments.

“By the time the transaction is confirmed, fluctuations in bitcoin price mean that it’s for the ‘wrong’ amount,” Stripe’s Tom Karlo said. “For a regular bitcoin transaction, a fee of tens of U.S. dollars is common, making bitcoin transactions about as expensive as bank wires.”

So the company said it doesn’t make sense to keep allowing merchants to accept a payment method that no one wants to use. The last bitcoin transactions will be processed on April 23.

Stripe says it remains bullish on the crypto-economy, and CEO Patrick Collison was certainly ahead of the curve on bitcoin’s rise. Collison told Recode back in 2014 that it was important for the payments platform to accept a currency that anyone around the world could access.

“Universality is the big one for me,” he said. “Bitcoin is something that anyone can get ahold of.”

Stripe is my main goto for payment processors, and with the way Bitcoin has been lately, this is probably a good move on their side.







Nintendo introduces Labo, DIY interactive cardboard toys for the Switch

Reviews
Nintendo introduces Labo, DIY interactive cardboard toys for the Switch

Yesterday, Nintendo introduced a brand new product category with Labo,a suite of cardboard accessories for the Switch that you construct yourself and then play using the Switch console screen and controllers.

Pianos, fishing rods, little robots, and big robot suits....

I love that Nintendo is creating these product line, while the original Wii also inspired a bunch of accessories (who didn't play star wars with the lightsaber attachment?), the DIY aspect of Labo helps show players what other fun things they can do and takes it a step further.

Although now that I think of it, I did notice that there was no sword in the kits.

You can preorder the Labo Variety Kit (cars, bike, house, piano, fishing rod) and the Labo Robot Kit ( (a wearable robot suit) on Amazon…they come out on April 20.