A major media firm is about to become the largest company that accepts bitcoin payments. Deadline.com reports that satellite provider Dish Network said it will start accepting the digital currency on mydish.com.
“The No. 2 satellite company will process payments via Coinbase, whose Instant Exchange will translate the amounts into U.S. dollars based on the exchange rate when the transaction takes place. Subscribers can pay with whatever bitcoin wallet they choose,” the story notes.
Critics of the digital currency warn that bitcoins lend themselves to abuse, including attracting money launderers, while the SEC has warned that people using bitcoin could be targeted by “fraudsters and promoters of high-risk investment schemes,” the story notes.
“Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals,” Dish Chief Operating Officer Bernie Han said.