Bitcoin Forum

The promotion itself would be amazing for Bitcoin, so I think in the long run it would be a good thing.

But the short-term effects (similar to Dell/Etherium accepting Bitcoin payments seems to have dropped the price recently) wouldn't Amazon's acceptance of Bitcoin result in a HUGE amount of Bitcoin being converted to Fiat by Amazon's Bitcoint payment processor? Amazon is about a thousand times bigger than Dell, so the short term negative bitcoin price effects could be quite huge?

They of course would not hold Bitcoin, so any sales would be effectively liquidating bitcoin for fiat.

high sellers always search for a bump of sells ... in Europe, it's a vacancy period.
customers ask less ... if bitcoin community can "moderate" the hole of vacancy, it's good.

and it's good for all bitcoin holder... when the september month will raise (with crash of the gov budget).

Amazon isn't a thousand times bigger. And you cant link the price lowering to Dell. It's not as simple as that.

Stop worrying about week to week or month to month price changes and your life will be much happier.

But some people ie the speculators or day traders live for this.

The BTC liquidated is then bought by someone.

You can't convert out to fiat without a buyer on the other end.

In a big way you can already buy stuff from amazon with bitcoin.

In fact this has been going on for quite a while, and Amazon knows it (and makes it possible). All you need to do is go to gyft and get an amazon giftcard, semi-instantly and you buy whatever you want from amazon.

So in reality, amazon accepts bitcoin.

I've bought a ton of things from amazon already.

I don't understand how it would directly make the price go down and especially how them trading the coins for fiat straight away is a bad thing. How do you think people buy and sell coins? Money is constantly exchanging between fiat and crypto.

Well, if there are more sells than buys then the price goes lower and lower.

I think there will be more buys in the long run with bitcoin being used by more and more people as time goes on.

But I was just wondering about the short term effects of Amazon adoption. Either way, I am HODLing long!

Don't you guys/girls understand the only fundamental supporting any btc level of value is trust factor by the percentage of people of the world using it

That's it

The higher the percentage of the population that have btc wallets the higher the value due to 1 thing, only 21M potential coins

So as the percentage moves up in the population the value increase

Population
.0001%  5.00
.001%   50.00
.01%    500.00
.1%     5000.00
1%     50000.00
10%   500,000.00


That in essence is THE BITCOIN ALGORITHM

Thanks to the great one Dr Sol Adoni

Everyone can see how to value bitcoin

www.BitcoinAlgorithm.com


Now you tie the percentage of population to GWP

100% Pop value 85 Trillion USD
10% Pop 8.5 Trillion
1% pop 850 Billion
.1% pop 85 Billion
.01% pop 8.5 Billion

SEE THE ALGORITHM

THANKS TO DR. SOL ADONI

www.BitcoinAlgorithm.com

The FUNDAMENTAL DRIVING BTC is how big is the % of the population AGREEING it has value

If 100% agreed it would be the first global currency with 100% useage and be worth 5M a bitcoin to drive a 85 Trillion GWP

Then it's 50M to drive 1500 Trillion in Derivatives

Could 100% of the population agree on anything?

No

But at a tipping point BTC could become THE WORLD's currency and control 85 Trillion in GWP and 1500 Trillion in derivatives

If it gets heavily regulated, then maybe it controls 10% of the GWP so 500K btc value

1% of the gwp it is 50K btc value

.10% of the gwp it's 5K btc the next bubble

.01% f the gwp it's 500 buck btc the current bubble or 8.5 Billion mkt cap

.01% of the gwp is 8.5 Billion the value of btc today

IT'S REAL THE BITCOIN ALGORITHM

THANK YOU DR. SOL ADONI

www.BitcoinAlgorithm.com

Oh the BITCOIN MANIFESTO explains where the bitcoin free tradezones will be

www.BTCmanifesto.org

RELOCATE TO PROTECT YOUR WALLETS

are you DR. SOL ADONI ?

That was quite a shameless promotion of his/your book. lol

I wish I was then I would have his wallet

But SOL ADONI founded ADONI Co., the ADONI FOUNDATION an the ADONI TRUST

So I'm involved in some adoni related stuff but not an employee nor Mr. Adoni

In a short time, next to the wise one (meaning of Satoshi in Japanes), Sol Adoni may be the next top name associated with btc since you will soon see a 10K bubble with 5K support for bitcoin

Then everyone wakes up and says wow this Adoni guy nailed the next growth spurt, looks like btc is real.

Adoni Co in one world, one people, one nation, free clean energy and one currency so btc fits his one world ideals

www.Grepa.org free clean energy for the world
www.BTCmanifesto.org MOVE TO NATIONS SUPPORTING BTC
www.NationOfOne.org face it humans you are all HUMANS so the ideas of nations is over
www.1bitcoins.org


So Mr. Adoni or Dr. Sol Adoni is a one world thinker and btc fits his global agenda, bringing humanity into a one nation/ one currency / free clean energy world

I get the impression that we all in this community wants it to happen. After all fro bitcoin to be fully considered a currency you need to be able to BUY things with it. We need purchasing power. If Amazon or other great retail seller will accept it as normal payment method it would be great. There is no drawbacks for me. That is simply just awaited progress.

Yes, there is the Ecuador complete ban, and the regulation over mining in USA. Enough to cause a $20 drop.

Its impossible to especulate what would happens. I think the following will happens at the same time:

-More people will know what bitcoin is and get some thinking bitcoin price will rise after Amazon accepting it.
-People that knew about BTC will take it more seriously and get and hold some.
-People will sell their bitcoins thinking the sell pressure will make the price goes down due to the sell pressure(that theory is widely known and may drive many people's bahavior in such situation)
-People will un-hold some bitcoin to buy things, that will be converted to fiat and down the bitcoin price.


The strength of each factor will determine what the result will be in the short time, and I have no clue about that.

Yeah, well... People claim that an increasing merchant adoption will push the price down, that may be true. BUT: We're talking about freaking Amazon here! If they do accept bitcoin, this will have such an cataclystic effect on the perceived acceptance of Bitcoin that everyone and their grandma are going to re-think their stance on Bitcoin.

maybe to 10 USD. good time to buy  :D

dell is now accepting bitcoins, but taht's not what determines the price. it's about how many new people put money into bitcoin, or how much existing users invest in it. giant retailers accepting bitcoin does not lead to people buying more bitcoin, at least not enough to push it ahead. though i do think it should, since you can take advantage of 10% discounts. you'll probably end up saving something like 5% anyway though.

from what i can see, i think only 2 things can drive up bitcoin's price.. either a failing economy ridden with hyperinflation, or an ETF.. those are the ways you bring new money into the field.

I don't think Dell announcing acceptance of BTC has affected the price positively or negatively yet at this point.   I think we will reap the benefits if other major companies follow suit.   I do believe that Amazon would actually help the price go up...

i don't know how though.. the question is, who will put more money into bitcoin with the news? doesn't seem like the whales or potential new players were affected by newegg or dell.

Speculators will be looking for increase USE of btc.  The entire world could accept bitcoin, but again, if consumers don't use it, traders don't care.  There are the only two charts you should care about when talking about Bitcoin value proposition:

http://blockchain.info/charts/n-transactions-excluding-popular
http://blockchain.info/charts/my-wallet-n-users

And for scary off cases and rapid price movements traders watch:

http://blockchain.info/pools
http://blockchain.info/charts/bitcoin-days-destroyed-cumulative



Just for perspective:

"Coinbase hits 5 Million wallets"

is bigger news than:

"Wal-Mart now accepts Bitcoin for online purchases"

in terms of price movements.  Right now the investment community wants to see CONSUMER growth.  Things like Newegg and Dell offering 10% discounts are a great help.  Evangelizing Bitcoin to the international community is also a great help.  We need to focus on the markets where the use cases are practical.  Adult Entertainment for anonymity, or international remittances, or simply building international communities around it could be amazing.  But, its a slow process indeed.

People want Wal Street and Silicon Valley to save us, but those institutions only bring "fake friends" as I like to call them, but what we need is a continuance of its real community.

It wouldn't necessarily mean that each person is putting more money into BTC, there would just be more people in general putting money into BTC.   

well yeah, that's why i said whales or potential new players. and i still don't many people will say "well, i need to get some bitcoins so i can buy something from dell."

True, people are more likely to buy with bitcoin they already own, rather than go out and buy bitcoin just for the purpose of spending at Dell.

So the promotion for Bitcoin is the best thing that can come out of Amazon adoption. All the press releases would be like a free 1000 foot tall billboard with the words Bitcoin on it.

If companies start to offer discounts for paying in bitcoin then people would likely purchase bitcoin for the purpose of using it at the merchant that is offering the discount, and would potentially purchase more then they spend.

If they dont hold bitcoin and dump it for USD. Yes. This is what the bitlicence wants to happen.

people of the fiat land obsessively complaining about the fiat price of bitcoin, will you please calm your asses down

do some logic theory, some psychologic theory, some economic theory before trying to shout out panicy posts

then realise that if someone buys bitcoin at $600, and the price of bitcoin moved down to $590, bitcoin holders wont sell unless they are dumb.

so even if the price moved down to $580, $570 no matter how tempting a PC or stick of ram is on amazon or dell. people WONT spend their bitcoin at a loss. but would spend FIAT.

the only time they would spend bitcoin is if they are in profit. so the price rise of bitcoin would or could see a drop (correction). also note that
it takes 10k btc to drop the price $200 so now adding to this fact that bitcoin wont tank due to smart hoarders, you also have to realise that not every hoarder will buy a product within the same 10 minute - 1 hour time window as 10,000 other people, to cause a price drop equivelent to $200

so calm down

until there is a bitcoin population (meaning price rise) to get to a point where average hoarders would be buying stuff from the major sites in their hundreds er hour. there is nothing to worry about. as the population growth and price would counter any secondary drops later on

I would agree. Price fluctuations of BTC and high expectations of BTC holders makes BTC more like speculative asset, but not the currency. Today, to pay bitcoins in Amazon would be the same as to pay in the candy shop with the Microsoft or Apple shares in the 80's