DISH Networks to accept bitcoin payments

Summary:DISH said it will begin accepting bitcoin payments by September through payment processor Coinbase. Bitcoins will be instantly converted into US dollars to avoid devaluation issues.

bitcoin2

Satellite TV provider DISH Network Corp. said it will become the largest company to accept customer payments via the cryptocurrency bitcoin.

DISH said it will begin accepting bitcoin payments by September through payment processor Coinbase. Bitcoins will be instantly converted into U.S. dollars to avoid devaluation issues.

Read this

Singapore broker urges 'light touch' Bitcoin regulation

Governments should adopt a light touch approach in regulating virtual currencies and instead allow technology to help protect consumer interests, says Singapore-based Bitcoin broker, Coin Republic.

DISH EVP and COO said the impetus for accepting the digital currency was to attract and accommodate customers who prefer to transact via bitcoin. Those customers also tend to be younger, and mobile and tech-savvy — a key demographic DISH needs if it is to stay competitive with online video streaming rivals. 

The DISH deal is another step in bitcoin's long march to legitimacy following a stream of unfortunate events, such as China's bitcoin crackdown, the Mt. Gox debacle and bitcoin's ties to the now shuttered online drug marketplace Silk Road.

The passage of time since these events clearly has been kind to the alternative currency, as more and more businesses jump on the bitcoin-acceptance bandwagon.

Along with that growing brood of businesses willing to deal in bitcoin, there's been a surge of digital wallets and bitcoin ATMs making it their mission to take the currency mainstream.

Perhaps the DISH deal will be the push bitcoin needs to squash concerns that the currency is fledgling and ultimately fleeting. 

Read more:

Topics: Banking

About

Natalie Gagliordi is a staff writer for CBS Interactive based in Louisville, Kentucky, covering business technology for ZDNet. She previously worked as the editor of Kiosk Marketplace, an online B2B trade publication that focused on interactive self-service technology, while also contributing to additional websites that covered retail tec... Full Bio

zdnet_core.socialButton.googleLabel Contact Disclosure

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.