Dish Network becomes largest company so far to accept Bitcoin payments

While there are still a ton of questions about the true legitimacy of the digital currency Bitcoin, more and more businesses have started accepting them for payment of bills, services and goods. Today, the satellite TV provider Dish Network announced it will become the largest company yet to embrace the currency.

Dish Network's press release said today it will start accepting Bitcoin bill payments sometime in the third quarter of 2014, with Coinbase selected as the processor of those transactions. It can only be used for one-time payments, however. Bernie Han, the executive vice president and COO of Dish Network, is quoted as saying:

We always want to deliver choice and convenience for our customers and that includes the method they use to pay their bills Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals.

Today's announcement comes a couple of weeks after rumors of PayPal possibly accepting Bitcoin as an option for its service. If that does indeed happen, it could open a way for even for large businesses to start accepting the digital currency. It could also fuel the efforts by some governments to start regulating the use of Bitcoin.

Source: Dish Network | Image via Dish Network

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18 Comments

Carbon Fiber said,
The existing payment options are still there. What's not to like?

The whole BitCoin fad that's been happening.

Considering how much the US Federal Reserve manipulates the US dollar, I don't see anything worse with Bitcoin in terms of accountability.

We've seen Bitcoin exchanges collapse and hundreds of millions of pounds go missing, something that doesn't happen with traditional currency as governments provide guarantees in the case of banks collapsing and there is more accountability. Further, the idea that currency can be created in the short term is hugely problematic and has led to dedicated individuals producing Bitcoins as a full time profession.

At the moment Bitcoin is a hugely speculative currency and it remains to be seen if it can mature into a stable and reliable currency.

theyarecomingforyou said,
We've seen Bitcoin exchanges collapse and hundreds of millions of pounds go missing, something that doesn't happen with traditional currency as governments provide guarantees in the case of banks collapsing and there is more accountability. Further, the idea that currency can be created in the short term is hugely problematic and has led to dedicated individuals producing Bitcoins as a full time profession.

At the moment Bitcoin is a hugely speculative currency and it remains to be seen if it can mature into a stable and reliable currency.

we've seen banks dealing with illegal subprime mortgages, drug money trafficking and govts spending trillions to bail out banks. The regular banking system is far worse.

Also this is independent of the regular banking system, coinbase/mtgox going bankrupt isn't going to screw up our economy unlike freddie mac and fanny may etc.

theyarecomingforyou said,
We've seen Bitcoin exchanges collapse and hundreds of millions of pounds go missing, something that doesn't happen with traditional currency as governments provide guarantees in the case of banks collapsing and there is more accountability.

Well I lost a lot of money when IceSave collapsed. Have a read of http://en.wikipedia.org/wiki/2..._Icelandic_financial_crisis

There are risks with all kinds of investments and currencies. I will agree that there is more risk with BitCoin however to say there is no risk with 'real' currencies is just not true. Hundreds of millions of dollars were lost after that 2008 global financial crisis. Have a read of http://www.pbs.org/wgbh/pages/...-the-financial-crisis-cost/ to see how TRILLIONS of dollars were lost in total!

bithush said,
Well I lost a lot of money when IceSave collapsed. Have a read of http://en.wikipedia.org/wiki/2..._Icelandic_financial_crisis

There are risks with all kinds of investments and currencies. I will agree that there is more risk with BitCoin however to say there is no risk with 'real' currencies is just not true. Hundreds of millions of dollars were lost after that 2008 global financial crisis.

Most governments guarantee a certain level of savings in the case of banks going bust - in the UK that is £85,000, which is significantly more money than most people have in savings. Those protections don't exist for digital currencies like Bitcoin. That's not to say that traditional currencies are completely safe though, as that's why the value of gold increases during recessions.

At the moment Bitcoin is a volatile currency and offers minimal protections. The biggest advantage it has is the lack of government interference but expect that to change if it takes off.

theyarecomingforyou said,
Most governments guarantee a certain level of savings in the case of banks going bust - in the UK that is £85,000, which is significantly more money than most people have in savings. Those protections don't exist for digital currencies like Bitcoin. That's not to say that traditional currencies are completely safe though, as that's why the value of gold increases during recessions.

At the moment Bitcoin is a volatile currency and offers minimal protections. The biggest advantage it has is the lack of government interference but expect that to change if it takes off.

It is £85k for savings held in the UK, I believe it is still limited to £35k for any foreign investments, such as IceSave. If you don't have savings in a protected account I wouldn't advise using BitCoin to save though :)

bithush said,
It is £85k for savings held in the UK, I believe it is still limited to £35k for any foreign investments, such as IceSave.
This isn't directed at you but a lot of that was people being greedy and trying to get a slightly better interest rate, as a lot of councils were caught up in that. If you're going to invest in foreign financial schemes you have to accept the risks.

theyarecomingforyou said,
This isn't directed at you but a lot of that was people being greedy and trying to get a slightly better interest rate, as a lot of councils were caught up in that. If you're going to invest in foreign financial schemes you have to accept the risks.

You can direct it at me as that is exactly what I was doing!! lol :)

Of course they accept them, they are the worst company in the US few years in the running to work for and they are grasping at straws to make profits. A friend of mine works for them as a tech and he's screwed by them every day, forcing him to sell over priced and worthless junk to people when their main goal to go to Dish was to save money in the first place. I don't think Dish has any idea what is going on and I can't wait for Verizon or someone else to buy them up much like AT&T did with Direct.

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