Bitcoin Forum

It's annoying that I was seeing what looks like a stealth rally in Bitcoin but no News that would back it up, so when I asked it got stuffed into the dark world of the speculation thread. The Mods on here don't have much nuance in deciding where topics should be.

https://bitcointalk.org/index.php?topic=954500.0




So what news could be fuelling this move? Is it the Google Pay story?

https://www.cryptocoinsnews.com/google-may-introduce-bitcoin-new-payment-system/

Why would Google Pay integrate bitcoin
I'm sure you will lose your anonymity if you use bitcoin in Google Pay

I think it's bad idea

Why wouldn't they? If they know Bitcoin will be the future then Google would be the first to want to be a part of it even if it threatened their payment system. If you can't beat them join them etc.

It being a bad idea or not doesn't really affect the significance of the move by Google IF the rumors turn out to be true, which they seems quite likely.

Although I'd like to see that happen, but to be honest I believe the chance is pretty small.

Major corporations/companies at the top all possess one very important attribute: stability. Bitcoin is, in its current form, the wild west, you can never be 100% certain of how much you're worth without constantly checking the market. Incorporating such a rogue element into a well-oiled, smooth-running orderly system is not without risks. Before these companies consider Bitcoin as an option they need to make sure their asses are covered from all possible angles not just from a legal standpoint but also as an investment.
I doubt a company like Google would want to hold on to BTC that was paid to them for their services, I'd want to convert to USD as soon as possible if I were them. Imagine Google selling $100,000 worth of apps in one day only to find their earnings reduced to $60,000 the following day. The problem is if they did decide to convert the BTC instantly by selling on an exchange, it could very well drive BTC value down. Balancing out this equation is not easy.

I don't think the price increase and news event is pure coincidental. If it does materialize, this is going to be big. Price at almost 250 right now.

Oh I hope it is :P
Although unfortunately I doubt they will. It would be good.

I doubt they would ever do it. Maybe after you create an account after you verify your identity.

It is a good news that google pay to integrate Bitcoin.

Its not a certain one yet. I see a lot of people saying it, but no news by any other sites like coinbase.

If anything it would be good publicity, I doubt anyone who actually knows about Bitcoin would use it but people will probably see google accepting Bitcoin and start looking at it more closely.

That's it not a good idea if they are willing to make centralized , where is the annonimity then ? it's like if we did not nothing and we should go back to the other payment methods then

If its google play store news that caused the price rise, then we should expect a fall soon. If not, then we are good to launch.

Its a wallet where you buy things and you might have to use your info to purchase things so how is that supposed to be anonymous? and since when is bitcoin anonymous

When google starts accepting bitcoin it will at least clear up some of the misconception people have about the coin. When people start using it, the exposure will help people see and realize that there's nothing wrong about it. Moreover with Google level of security people will have more trust.

What story? There is no story other than speculation.

I don't think Google Play Store will integrate bitcoin as bitcoin is not a recognized currency as of now. BTC is getting popular these days and it will take time for other online stores start using BTC as a payment method.

I think some people would be uneasy cause that would undermine bitcoin's anonymity, looking as to how Google Pay requires proper authorization and basic identification. But overall, i think it is a good step. This could well bring a positive light to the uses of bitcoin and the ledger blockchain compared to the misconceptions of bitcoin with terrorism and black markets lately. Would be wonderful even to have it incorporated by a giant like google which could quite possibly tighten security.

I'm crap at maths and Im no economist but surely people have got it wrong about it being detrimental when companies like Microsoft etc take BTC cause the thinking is that they will quickly convert them to Fiat so it pushes the price down.

Can someone correct me if I'm wrong but surely as Bitcoin has a wider use and thereofre is stretched over a much wider network the price will definetly increase as the coin becomes more scarce. I mean we only have 10m or so in supply so even a small amount of mainstream use and you will start to get liquidity issues in BTC. Sure I get the short term potential for drops but the bigger picture is its one step back and two steps forward?

Google play would not integrate bitcoin as a payment for so many reasons one would be the price of it that keep on crushing, its too risky for them.

No risk they simply would use it as way for people to buy fiat into the Google pay system and also they can convert to USD rapidly. No risk to them, just potential revenue increases.

Bitcoin prices have decreased a lot recently and for Google it will definitely be risky. It is just like buying and selling shares/trading in Forex so as of now Google may not find it a reliable payment method.

Why not? The money stored would be up to the individual, but they could also act as some sort of payment processor where they exchange the coins straight to fiat.

Just like any business or shops accepting bitcoin, they would exchange it back immediately to fiat to avoid losses caused by exchange rate fluctuation. If these small establishment can do it that operates on a thin margin, then why not google? They should be able to manage it much better compared to the rest.

That would be a good deal for Google if they do that but it depends if they find it a good deal. As of now, it has its own wallet and so I don't see it coming in the near future.

I mean NEC (national equipment corporation) the service old school that banks use for equipment and the xfer of $$$ even they say they are gonna take BTC ...if google wants to do it ..it really is not that hard to do......imho (my bank hell any bank in my town STILL uses the 1980 NEC dot matrix printer for receipts for crying out lon! (banks if it an't broke don't fix it)

 

 ???

Don't know what Google Pay is.
Does it compare with BTC?

I'm not saying you're wrong, I've never traded BTC but it still has a market of over 3 billion! I cant see how that can easily be manipulated? It's only a hunch but I have a feeling the worst is over for Bitcoin for a while, we have come out of a very bad patch but it seems we may be on the cusp of going mainstream.

Now I actually am going into speculation..but I think if you look at the 1 year chart it wouldn't be crazy to conclude that we have bottomed and have turned a corner.

http://imgur.com/vwMtJV9

I agree mate.. Although it would be profitable for both sides..i don't think it will happen soon.. May b after a year or two.

And of course the Bitcoin price will react, at this point the price once again is fully rumor driven.

But hey, if Microsoft made a first step, then why not Google.  :)

That would be great and amazing news. The anonymity thing may be an issue, but people have migrated to DRK and others.

It would be great news, headlines all over the world. Dont even need to go outside Bitcoin if you want anonimity tho, just use it as cash (new addresses, mix it etc).

It would be benefitial for Bitcoin and for Google, if not yet i hope Google will realise that soon.

This is exciting indeed. Been watching the price of BTC rise against fiat in response to this. It will correct soon, but could lead to a host of other surprises.

your post discussed price increase which belongs in the speculation section.  as this topic is not news it is also borderline speculation on whether and when google pay will integrate bitcoin.

I speculate you are a middleaged man sat in his underwear in his living room watching game shows.

it's too risky for google to integrate bitcoin as their payment
since bitcoin price is very volatile :(
and i will loose anonymity status if using my bitcoin address to pay in google play :P
like their unofficial motto : Google Like Your Data ;)

This is good news at once bad news too :D
the good news is bitcoin will be more popular and mainstream, maybe more merchant can adopt bitcoin and price rise, the bad news is we will not anonymous anymore :-\

That would really effect bitcoin to good extent

Talk about news event it sure does have quite a lot of impact towards price movement. Look how it changed upon announcement of the bter hack. It will be tough even for google to take on that.