The North American Bitcoin Conference is an annual event, being held in Miami this year on Jan 18 and 19. However, this year they have stopped accepting cryptocurrency payments for the event. According to a notice put up on their website, this decision is due to “network congestion”.

The statement put out by the event organizers also quoted “manual processing” for closing of ticket payments using cryptocurrencies. They indicated that they are hopeful about more unity in the community about adoption and scaling by next year.

The statement re-affirmed that, they always had and will continue to accept cryptocurrency payments till fourteen days prior to the event. The only reason to deviate for the last minute sales this year is because of the manual data inputs into their ticketing platforms for the cryptocurrency payments which affected the print deadlines.

The impact

This move brings to the fore, the struggles that the bitcoin industry is going through as this event is a major one. It showcases the bitcoin users’ struggles with transaction fees. The bright spot is that a full SegWit technology implementation has been announced by the Bitcoin Core developers in order to address the concerns about speed and fees. This update is expected by May 2018. This technology adoption is said to help the users to send bitcoins at a fraction of the earlier cost. Many bitcoin users are pushing businesses to adopt the SegWit technology for relief from costs and delays. In fact, a petition requesting a priority, Coinbase upgrade to the SegWit, has already garnered 7500 signatures.