Dish Network to Accept Bitcoin Bill Payments

Satellite TV provider, Dish Network, has announced plans to accept bitcoin payments in the fall of this year.

Dish Network will be the largest company to accept bitcoin, usurping the title from Overstock.com.

The TV provider will enable one-time bill payments through bitcoin on its mydish.com site.

It’s partnering with Coinbase, a bitcoin payment processor and exchange. Dish Network will use Coinbase’s Instant Exchange feature to convert bitcoin payments directly into US dollars.

It’s a huge boon to the bitcoin economy, and a mark of legitimacy for the embattled digital currency.

Bitcoin has faced criticism for its volatility, the ability to carry out transactions that are (theoretically) anonymous, and the bankruptcy of Mt. Gox, one of the first and most major bitcoin exchanges.

The advantages of bitcoin, including near-instantaneous transactions, lower transaction fees, and the elimination of chargebacks, makes offering a bitcoin payment option an attractive prospect.

Since Coinbase can convert the bitcoin payment directly into dollars almost instantly, merchants and service providers face a significantly lower threat of volatility.

Will Dish Network be a herald for the coming digital currency age?

Proponents of bitcoin, vying for ways to pay for everyday goods and services, are increasingly becoming mainstream.

Bernie Han, Dish Executive Vice President and COO said in the announcement, “Bitcoin is becoming a preferred way for some people to transact and we want to accommodate those individuals.”