Bitcoin Forum

Hey there, I was just browsing few posts on facebook and I suddenly saw the post by NEWSBTC regarding the Crypto Offering on Samsung Galaxys S10. I just want to ask your speculation on market sentiments. Will this be a positive outlook for the crypto market? Here is the link ttps://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin (http://ttps://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin).
 What do you think?

Clearly positive. A great step in mainstream adoption. Other than that, we will see.

No.

Like 95% or more of good news it's a nice thing that will make the future a finer place. It doesn't create anything compelling in the meantime. It is a big vote of confidence in its future.

I think it is huge news. When we start seeing all major phones have built in secure private key storage (essentially just like a hardware wallet) bitcoin will be much more adoptable and usable for the average person. In terms of adoption I think this could be the biggest thing yet for Bitcoin. Of course it will take time for this to become the norm and for people to actually use it but I see phones allowing secure bitcoin storage as a major piece of the next bull run. In a couple years there could be hundreds of millions of people who can easily "store" bitcoin right on their phones, getting rid of all the confusing bad user experience stuff like having to make paper wallets or buy hardware wallets and whatnot. Really, this is how bitcoin spreads - when people can easily buy, store, and spend it on their phones!

I don't see this as that bullish however I can say that this is one step towards getting the word out over regular consumers that don't know much about bitcoin yet. We all know that the smartphone industry is one of the fastest-growing and exposed scene in the world's economy right now, and with the recent move Samsung made, integrating a crypto wallet within their newly-released flagship S10, I can see a huge potential, albeit not that strong of an influence for today's market sentiments. The move is somewhat preparing the consumers for what might come in the future, but other than that, nada.

Samsung was a well-known brand that is why I really think that this news is a positive sign for the value of bitcoin And the thing is if normal individuals can be ready for bitcoin in a handheld device? Well we can say that there might be good feedback over it but I really think that negative ones are also arising over this kind of thing, We can definitely assume that there are a percentage of people that are very negative on bitcoin in the past and after seeing the innovation of this phone that can surely change, And this flagship of Samsung is one of the anticipated by Smartphone users and Cryptocurrency users alike.

Take it as part of the background, Samsung is the giant Korean company, international conglomerate no less but this is mostly just a reflection of the Korean people already being into crypto and part of this market.    So its an ongoing bullish trend, I wouldnt take it as something new to ignite immediately anything.   
A positive sign but we hope to see lots of these regardless of price over the next few years.    Mostly I think its important how they develop after arriving, so how many more people join or use crypto because of this capability.    Hard to say immediately

It's a good start, but in order to make it more of an adoption booster, it would be great if Samsung devices natively can spend Bitcoin through the SamsungPay gateway, which instantly means +1 million of merchants added where you can spend Bitcoin. What we need is more brick and mortar stores accepting Bitcoin, and this will definitely make Samsung gain some dominance in this industry.

I wasn't bullish at all when it comes to the B symbol integration in Google's keyboard, but this is what I consider fundamentally good news. It will however not do anything other than slowly bring in adoption, if people expect moon then they will be very disappointed with how the short term market doesn't move on these developments.

It doesn’t affect much the market and sad to say we are dumping again. I think even if we have a lot of good news if its not are time to pump it will still not happen. The market are down again, maybe a small correction before we see a great pump again so don’t panic.

What Samsung developers are doing is the right step, because they have done this as early as possible when the prices of bitcoin and other crypto are in a very prolonged crisis. For now, we all may not be able to feel the positive effects that they bring directly, but for the future I think the number of people who adopt bitcoin and other cryptos will increase, this thing will certainly be in line with their plans especially about hardware such as wallets and safe elements which they will pin into their smartphone.

granted, but it's definitely a long term bullish sign. there has to be strong belief among samsung's board and shareholders that crypto has a real future. they might be completely wrong, but chances are they see the same thing that all us long term bulls see---that crypto is past the point of no return. i mean, that's a pretty big endorsement. samsung is the biggest player in the android phone market.

haha, this would only lead to a rise if you think random people on the street reading this are going to start buying bitcoin. do you really think that?
obviously the random people who aren't yet familiar with bitcoin don't even care about this news. it may create some interest in them as to what this new thing in Samsung's advertisements is but not enough for them to think about actually buying bitcoin yet. specially with all the FUD that is scaring them off these days.

Lol well to be fair, if people found some random feature on their shiny new phone, it's likely they'd want to try it out. I don't think it's projected to be a smash hit for adoption or anything, but putting crypto within reach of a new set of people can't be a bad thing. Samsung is also quite reputable as a brand, and that may help convince some skeptics to give it a chance.

I don't think we're going to be feeling any immediate effect from this, but it's pretty huge and could even make other vendors follow suit. Let's hope it works well and catches on. If implemented well enough, it will also make Bitcoin more portable, and therefore better suited for point of sale transactions.

It might be slightly positive in a way where somebody out of boredom just browses all the pre-installed apps and features on their phone.

They see the words Blockchain, Bitcoin and Ethereum. Then a few months later they hear about Bitcoin from a friend or on the street. Or they see some news article about it and remember that their phone support the "Blockchain" wallet.

They will think this is going to be huge in a few years and buy in.

Positive news and this will make those who are not aware of Bitcoin to be aware of Bitcoin and they don't need to download anything since its there already. I hope they can also come up with a pre-installed app that they (Samsung) developed that works like Blockfolio.

I actually heard about this the other day. I think it's a HUUUUUGE step in the right direction. This will help millions of every day users access crypto for all kinds of micro and macro transacting. It will only strengthen the cause it seems. As long as Samsung stays on top of their security!

Nice step, and good marketing for cryptocurrencies, especially for the coins that will be supported by samsung now. I don`t think it will start some big bull run, at least not right away. As I read they plan to have wallet not only for bitcoin, for ethereum too, and maybe some other coin too, we will have to wait and see what will happen. This year is special for huge news like this one is, all we have to do is to wait for realization.

I don't think this will have a big impact on the market but this is just a small step in our journey to the bull market. I'm sure this will have some impact since Samsung is probably the biggest phone company along with IPhone

I am not so positive of the device bringing about a bull run. I have followed most of the commentary on the design, and there are so many additions and features put into the phone that most non-crypto individuals do not notice its relationship with cryptocurrency.
It is a good news surely, and we would gladly take any extra publicity now.

No bullish trend at all but I think it will be more worth it if we will wait for a little longer. This kind of development is good but we have to wait for more trend before we say its a bull, Samsung is a big company no doubt but the market is not moving uptrend after the announcement so I think its just a normal adoption.

Apparently Samsung will have some sort of blockchain device on their phone like a wallet or private key storage type deal.

I mean it is not really highly understood right now but their next line will have something to do with crypto, maybe it would help you save the private keys of your wallet so you never lose your wallet or maybe it is a wallet itself but in the end having it on your phone built in default is not really that big of a deal when there are thousands of apps that does the same thing anyway, people who do not use bitcoin will not care and people who use bitcoin already has apps that they use so it would be silly. It is always better than not having it so don't get me wrong its cool but its just not the big step we are looking for in order to reach the next bull run.

I don't recommend this phone if you can't afford to place your money in it an if you just want a secured wallet for your cryptocurrency I really think we should go in a cheaper and has the same feature of security But if you sure want the multiple convenient of a smartphone and a cryptocurrency wallet I guess it is a shot to make a saving's in buying this because I really think it will make your life easier and had a perks of a laptop than a mobile device, because of its stunning specs and features, But the downside most people would surely agree is the stunning price hike because you can surely take a cheaper one even if their specs are not like this but can surely compete with this phone.

the Samsung cryptocurrency related news was a vague one at best. in fact most of it was rumors that has been circulating online and things like that are not known to be a "bullish sign" in my experience.

on the other hand this is a good step towards mass adoption though. because it offers a way for anyone to have a bitcoin wallet on their phones a lot easier and in a way as default preinstalled applications and that can always be a good thing.

This time, they confirmed it would have private key storage in a press release.

Anyway in my experience, it really depends on the market sentiment. In the middle of a bubble, I think confirmed news from Samsung like this might trigger FOMO to new highs because there is already so much pent up demand and scarce supply.

Right now during the bear market, there is no effect because there is so little interest in crypto right now. The market is full of bagholders too, and they'll sell into any news rally.

That's definitely a good thing, and another advantage that comes with these pre-installed client applications is that the competition between clients will be upped a notch or two.

I am currently using the Electrum mobile client, but it should do something about its UI, and that also applies to most other reputable clients. I get it that security is the most important thing, but come on, UI is also important.

It may sound ridiculous, but people really choose clients based on how they look, and most of these pretty UI clients are simple to understand and use, which is another department where reputable clients lack.

I dont think that this feature has an immediate effect on the market. This might take sometime, because the primary purpose for this is to make cryptocurrency widely known from every corner of the earth. And maybe Samsung believes the potential of this technology.

Upcoming issue on that private key storage is inevitable, that'll be expected.

Indeed. This is a subtle addition, not an ejaculation in your face. It adds up to stuff that counts some day but it'll be hard to detect and there won't be any effect in the meantime. It's a brick in the foundations of something bigger, not the main event.

agreed but i wouldn't call it subtle. what they're doing is totally unprecedented and they own like 20% of the worldwide smartphone market. we obviously can't expect an immediate effect---it's a bear market and the phone isn't even out lol. but when the next bubble rears its head, the fact that so many people will have a trusted native app for bitcoin/crypto storage built into their phone......that's pretty huge. that's a ringing endorsement of cryptocurrency from one of the most trusted smartphone brands in the world.

It depends of what reviews Samsung Galaxy S10 will get after it's launch.If the people hate it,the crypto wallet on the smartphone won't matter that much.If the people like it,millions of noobs will get into the crypto world.
If this smartphone is successful,Apple might try to copy what the competition is going and implement crypto wallets as well. ;D

but it is not just a feature that you could "try". it is a feature that requires "spending money" to try. which means signing up on an exchange, verifying your identity, waiting for the time required for them to accept you and then transfer funds from your bank to exchange, wait for that to complete, then buy bitcoin and transfer it to that "feature" and try it out!
this is the main reason why i said it is not going to happen for people who don't have prior familiarity with bitcoin already.

It has a big effect to the market, a positive effect.
I just read some news related to this topic, this is about  Enjin Coin   (https://coinmarketcap.com/currencies/enjin-coin/) that has pumped because of rumors that samsung s10 will add an enjin coin wallet.

https://dailyhodl.com/2019/02/26/enjin-coin-pumps-153-on-samsung-rumors-binance-ceo-says-xrp-has-proven-its-value-and-crypto-hedge-fund-pantera-reveals-its-investments/

The cryptos enable feature smartphone by Samsung  will make crypto to gain more popularity possibly more adoptions but I agreed with you that its effect in the market might not be felt now however in a long run definitely its going to make some differences in term of having a well secured mobile wallet whose owners might want to try out having some cryptos and test the wallet functionality.

It's not just limited to this, I'm sharing 2 more links:

https://cointelegraph.com/news/unconfirmed-crypto-startup-enjin-to-back-rumored-samsung-galaxy-s10-blockchain-wallet
^ A rumor which made ENJ pump like hell.

Another one:
https://www.chepicap.com/en/news/7718/6-projects-that-are-potentially-involved-in-the-samsung-digital-wallet.html
^ Watch this and you'll know which ones are involved (not assured though).

Whether it's a bullish sign or not for the whole crypto market, but it is definitely working out for those coins which are said to be used in Samsung's digital wallet.

Let's be honest, it's just the feature on the mobile phone. This will not have impact on the market, such expectations are exaggerated. It's a positive news because other companies would probably follow this example to stay competitive and on the general level is good news for cryptocurrencies overall but don't expect this will rise the price. Even if it will, this will be in a very small range and short term.

Even it will be a big sign, the market manipulators will make it as it never happened, selling huge amounts of BTC just to maintain the current price and thus making it harder to climb up again. Also people who bought BTC when it was at it's ATH, for sure they just waiting maybe around somewhere hoping they could get their money back. I believe it will possible for BTC to be rising again when this kind of news never stops and should be continues.

Why do you think this will not affect the price in any means? Samsung is one of the best and highly used brands in the world and it holds a very handsome share in terms of smartphone sales, so why can't it accelerate crypto purchases when those who don't know nothing about crypto will get to know through it? All the media is currently capturing this and this has become news, so what makes you think that there will be no impact?
Cheer up, we are being mainstreamed!

We don't have to expect that it will instantly effect on the market, this is a big improvement and of course a big sign.
Market manipulators will continue to manipulate the market while they still have the power, but the moment institutional money will increase it will result to a decrease of their power and it will be hard for them to manipulate the market, slowly but surely, we are moving good.

Is this trying to say that we will be able to buy galaxy s10 for bitcoin officialy? Link you posted is down tho.

Not necessarily but this means adoption.

Crypto wallet is not so important if mot merchants are still not accepting crypto, maybe we will see this growth in the future
but the the fact that samsung started adopting this, it will result to boost of confidence to other businesses.

If we are talking about a immediate pump on the price then I would say no, but if we consider that many crypto will slowly used this feature in their smart phone or even wanted to test it out, then will need to buy bitcoin.

And then there are those non-crypto we might turn out to be investors or holders as well, so in the long term if might have swayed a few but I don't think it is the needed catalyst for a bull run though.

As far as I know you can't buy an S10 with Bitcoin. There was a Crypto phone made by HTC a few months back and that one you could actually buy with Crypto but definately not the S10.

Your best bet is just to either sell on an exchange and buy it with cash. Or you can use a service which lets you convert your BTC into a gift card on Amazon and use that gift card to buy the phone.

Just because they added a crypto wallet function, doesn't mean they have started to accept any form of Crypto. Just like Elon Musk is very bullish on BTC, but he doesn't have plans to sell his Tesla's for BTCs.

I also agree with you sir as this announcement will make the people learn more about the blockchain technology.

The keyword here is 'not immediate', so we really don't know what the effect in the market right now. But since they're going to release in the bearish market, we might see some little push though but not going to be the triggering factor for a bull-run.

Samsung has like 30% of the smart phones market globally though, but I don't think that people will just buy this phone because of its embedded crypto wallets, so it's a long way to go before we can really assess if this move from Samsung will do more good in crypto sphere.

Most buyers of that expensive would probably not mind the feature anyways. And though it's good to see these kinds of features for crypto being integrated by large companies like samsung, you're right that it'll likely have at best  little push. I doubt it can start what everyone's hoping for.

We all know that samsung is a good product and brand which implies that they are mainstream, and for them to be able to include a crypto wallet in their mobile phone is a good development for the crypto community, this just mean that crypto is going mainstream and we should expect to see more of this from more companies.

This good move will not just only take bitcoin mainstream, but will cause a bull run in price.

In a thread it was questioned whether you'll be going with hi-tech smartphone or bitcoin. Looking at the inbuilt feature of the latest S10 more people, particularly the cryptocurrency users will go buying the high technology smart phone selling bitcoins to experiment the worth of the innovation from Samsung.

Anyone see the pump it had with Enjin though? That token took off once it was announced that it will going to support them. So it could show sign of bullish signals for some coins, specially alt coins because we know that they're prone to pump-and-dump scheme. But for bitcoin, I have doubts that this new S10 will offering that much bullish signal to begin with.

It's a one off for them, not the market in general. You don't really get a bigger endorsement than that, especially if you're a nothing shitcoin.

As it stands it looks like the phone is shipping to non Korean territories without this wallet feature so for now it's ETH and a couple of shitcoins in South Korea only. That's not exactly earth shattering.

I am not sure any smart phone user will learn about the blockchain technology because they provide an inbuilt wallet, but people will be aware of the market and sure it is a good sign for the entire crypto market and once they announced what all wallets are included which involves a lesser known coin Enjin Coin had a huge rally after the announcement.

Since it is a high end mobile, they are targeting the crypto users and it is a good thing to see a multinational company understanding the market opportunity and trying to take advantage of the situation which is a win win situation for everyone.

It's pretty easy to pump a mid cap altcoin. That's all it was. We're a long ways off from a legitimate bull market where anything and everything is pumping. Good luck trading altcoins right now. Anybody lucky enough to be bagholding Enjin with the foresight to get out was just that.....lucky.


Is that true? You got a source for that?

https://www.reddit.com/r/Bitcoin/comments/ayven2/samsung_phone_does_not_have_blockchain_keystone/

https://www.youtube.com/watch?v=9XWmczWFLts&feature=youtu.be&t=368  lots of comments there about not having it either.

A few other articles have mentioned it too, but you cannae beat whining from Samsung's real customers. It might just be an update away. Who knows?

No sign of bullish run but it offers a great service again using cryptocurrency. A big Korean company has something to say on this and for sure a much bigger companies will also adopt blockchain and cryptos. It is good for Samsung that they’ve already take the first step.

great service ? what do you mean by that ? you mean this helps for the crypto to become popular ?  yes it is  .  there was also a sign of bull run just before the s10 phone came out  . 


say about what ? you mean the korean phone brands will also adapt crypto ?  yeah maybe  .  other big companies can surely follow the path of samsung because they are afraid to be left behind .


i dont think this can have a good impact to samsung but this can have a good impact to the crypto comunity  .

Not at all and only to those altcoins who do benefit with such partnership and knowing enjin coin is a Korean project which they would normally tied up and we have seen the pump
which is not really new at all.Sooner or later it would dump because its just being dragged with the hype.Talking about BTC or bullish run then I would say this wont really be enough thing to be a catalyst for a bull run but still a good news though.

https://www.ccn.com/samsung-pay-10m-users-integrate-crypto

According to this it's possible Samsung are considering integrating crypto into Samsung Pay. Now that's a big deal. Since this is the crypto 'press' treat with caution of course but they're quoting a respect South Korean publication.

that would be pretty groundbreaking. it would be an exciting move for them if true and would definitely set them apart from applepay and the likes. but i wonder if it'll be a total flop tbh. if they bring this to market too early, they may get a lot less bang for their buck than later entrants. it's all about timing the crypto hype.

there must be some real crypto believers high up at samsung. i never would have expected hardware wallet integration from a major player like them so soon, let alone samsung pay integration.

Over the weekend I went down to my local Samsung store to play around with this phone. However the blockchain app, Ethereum, Bitcoin wallet is nowhere on the phone. It's not on the main screen, it's not on the intro even.

I tried searching for the app and couldn't find it. It's not in the default Samsung app folder either.

Hence I don't think this will have any effect on price, since it's not installed by default.

Samsung has always been a crypto supoorters and now with this s10 series it is looks more compelling from this company to bring good things in crypto world
This safety featurs from this Samsung model will give as confidence in our daily usage of our cryptocurrency and assurance
But lets see whats the effect once this was already used by cryptonians

I think many people do not know about this S10 feature. Samsung has a big market already and their new model will be sold massively as per their previous S series model.  Many people will buy this phone because they love to buy latest model of their brand and they will never use that crypto feature being introduced in this phone.