Gumtree Does Not See Bitcoin As Real Money
Bitcoin seems to be right in front of the firing line. With more and more platforms taking action against Bitcoin-related content, the future of Bitcoin is in question marks now. Gumtree, being the latest member of this group, claims to not like Bitcoins anymore. In fact, an advertisement of a user had been blocked by Gumtree because of Bitcoin payments not being allowed.
What does this decision of Gumtree mean to Bitcoin?
Well, let’s compare Gumtree to a marketplace. A market has buyers as well as sellers of particular products. It is infact, the marketplace which provides a medium for interaction between the two parties. Similarly, in regard to displaying advertisements online, Gumtree can be considered as one of the most popular markets. Although it cannot be said that Bitcoin-related sales were mentioned to be illegal, as per their Terms and Conditions, one user’s advertisement was suspended for something in similar lines. They ultimately decided to make BTC payments illegal. I.e Bitcoin lost a marketplace.
Should we be surprised?
No, we should not be surprised. A strong supporting case being that Gumtree are under the same category as eBay who do not deal in BTC payments.
How are people reacting to this news?
A lot of people are in the viewpoint that what Gumtree is doing, is not necessarily correct. It is not fair that the consumers aren’t being given a choice with regard to means of payment, for the sole reason being that Gumtree considers BTC payments illegal in nature, for some reason.
What can one learn from this?
With the latest decision of Gumtree making Bitcoin payments illegal, it brings to light the possibility that, cryptocurrency is something that the company just not want to deal in for reasons of their own. For the ones of you disappointed with this decision, there is no need to worry. Other portals like OpenBazaar given everybody in the world the opportunity to buy and sell even with Bitcoin as a means of payment. The pessimists, on the other hand, can look at it as a loss. Although there are other such portals, the reach of these portals is substantially lesser than those like Gumtree.