71–80 of 132 posts
Does anyone have an opinion on why the price of Bitcoin doesn't seem to move on news like this? It seems significant in my opinion and I would think that wider acceptance would lead to a higher price, but that hasn't been the case over the past few weeks / announcements.
Sort of starting to feel like all the crappy Bitcoin-specific businesses are about to get replaced by their "normal" equivalents who will just suddenly start taking Bitcoin. Much less disruption than new privacy/security/anonymity focused companies who were early Bitcoin adopters replacing old institutions, but much more likely to actually work. Kind of the equivalent of NYT becoming a major website for news, rather…
Sort of starting to feel like all the crappy Bitcoin-specific businesses are about to get replaced by their "normal" equivalents who will just suddenly start taking Bitcoin. Much less disruption than new privacy/security/anonymity focused companies who were early Bitcoin adopters replacing old institutions, but much more likely to actually work. Kind of the equivalent of NYT becoming a major website for news, rather…
I don't really think this is a problem, though. The point of bitcoin is not to distrupt businesses, it is to disrupt traditional currencies. That traditional businesses are accepting it is a sign of good, not bad.
A great position right now would probably be "products and services to help service providers integrate bitcoin into their core products". Simple merchant integration is one thing, but more in-depth integrations would be interesting.
Earlier quoted context omitted.
Merchants don't need to expose themselves to FX risk to accept Bitcoin. Square does that for you, as do Coinbase, Bitpay, and similar companies. I don't think the tax issues will be prohibitively complicated for consumers. Whichever exchange someone uses to buy Bitcoin and whatever app they use the spend it can easily generate the necessary paperwork. The companies have hundreds of millions of dollars on the line tha…
> Merchants don't need to expose themselves to FX risk to accept Bitcoin. Square does that for you, as do Coinbase, Bitpay, and similar companies. Allowing your payment provider to handle currency conversion for you does not mean that you have eliminated FX risk. You have simply outsourced it, and you (and in many cases your buyer) almost always pay for this. > I don't think the tax issues will be prohibitively compl…
A currency's utility is directly linked at how many people use it as a unit of account, and it's really hard to become people's real unit of account when your value changes a lot, and is unpredictable. Just look at Argentina during the crisis: Even when taxes in the country were paid in pesos, people really used the US dollar as their unit of account.
Does anyone have an opinion on why the price of Bitcoin doesn't seem to move on news like this? It seems significant in my opinion and I would think that wider acceptance would lead to a higher price, but that hasn't been the case over the past few weeks / announcements.
If anything the price should go down. When people buy things with bitcoins they are effectively selling bitcoins transitively driving the price down. If you want the price go up there have to be incentives to buy stuff with bitcoins such as lower prices. For many people it is cheaper to use bitcoins because they bought-in early, but that would be equivalent of cashing out their position and exposing their identity to…
Even if it where tracked people buying things with bitcoin can just as easily drive the prices up as down. As with all transactions you must take into account the value of both sides of the transaction.
Earlier quoted context omitted.
What's the reason for this? Is it part of Coinbase's payment integration? I don't recall any other websites doing this (although there's the possibility that I simply haven't used other sites that also do this)
There are a couple of reasons, actually. This will be a short version of something I'm still in the process of writing, so consider this very high level, broad strokes. Consider "Coinbase" a stand-in for any service like it. I also know that lots of Bitcoin enthusiasts won't agree with me, and that's fine. The most important one is that merchants generally want USD, not BTC. Instant Exchange is a really important fea…
Does anyone have an opinion on why the price of Bitcoin doesn't seem to move on news like this? It seems significant in my opinion and I would think that wider acceptance would lead to a higher price, but that hasn't been the case over the past few weeks / announcements.
It seems to be following a repeating pattern. * Bitcoin builds infrastructure. * People notice bitcoin isn't going away * Media says Bitcoin will make everyone Gazillionairres * Bitcoin skyrockets until infrastructure comes under strain. * Something involved with bitcoin breaks * Media(not neccisarrily the same media) says Bitcoin is all over, and everybody will lose their bitoin, their home, and their dog. * Price d…
Source? Unless you consider the failure of Mt. Gox an "infrastructure" problem, then this is not the case.
Does anyone have an opinion on why the price of Bitcoin doesn't seem to move on news like this? It seems significant in my opinion and I would think that wider acceptance would lead to a higher price, but that hasn't been the case over the past few weeks / announcements.
It seems to be following a repeating pattern. * Bitcoin builds infrastructure. * People notice bitcoin isn't going away * Media says Bitcoin will make everyone Gazillionairres * Bitcoin skyrockets until infrastructure comes under strain. * Something involved with bitcoin breaks * Media(not neccisarrily the same media) says Bitcoin is all over, and everybody will lose their bitoin, their home, and their dog. * Price d…