The Big Business of Bitcoin: Dish To Accept Virtual Currency

Dish Network will become the first TV provider to accept Bitcoin as a valid form of payment starting in Q3 2014. But Dish will not only be the first TV provider to accept the virtual currency, it will also be the largest company in any industry to add Bitcoin to the list of accepted payment methods alongside credit cards, debit cards, and bank accounts.

In a statement, Dish explained that it will be using Coinbase as its payment processor to turn the Bitcoins into dollars. This move reflects positively on Bitcoin as a payment method across all industries and it is particularly good for the companies involved, Dish and Coinbase.

Future Proofing

Dish Network said that it has made this decision to accommodate the small percentage of its subscribers who may genuinely prefer to use Bitcoin instead of a more traditional payment method. There are some advantages to Bitcoin such as an increased level of privacy, lower fees, and greater security, so there are people who have tried to use the cryptocurrency as a replacement for all other payment methods.

EUWe always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills,EU said Bernie Han, Dish's executive vice president. EUBitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals.EU

Even proponents of Bitcoin are not attached to Bitcoin itself but rather the idea of cryptocurrencies in general. Those who have become involved in the Bitcoin community hope that the currency's core aspects will one day turn into the payment system of the future, though that payment system would not necessarily have to be Bitcoin. Businesses that are accepting the currency provide a way for Bitcoin-only consumers to gain access to necessary services and those companies also future-proof...