Can Bitcoin Capitalize on the 2016 VR Hype?

[mtnsaa]

I've always said that Bitcoin needs to find a niche and become a beacon or standard method of payment in a particular area. That's the only way it could create actual mainstream demand and stop being just a commodity or a trading asset.

Why Bitcoin Should Catch the Virtual Reality Gaming Wave

The Bitcoin community has been wishing for a way to buy games with bitcoin for a while, and, a few companies have obliged. Green Man Gaming was one of the first online game retailers to accept bitcoin, and the popular G2A marketplace started accepting bitcoin in late 2015.

However, judging by the initial hype surrounding VR, working bitcoin into VR gaming would make a much bigger splash than online retailers accepting the digital currency. Combining two cutting edge technologies into one Space Age gaming ecosystem is the stuff that sci-fi dreams are made of. More importantly for us, though, catching the VR wave would bring much more attention to Bitcoin, possibly sparking a large growth in users.

https://news.bitcoin.com/why-bitcoin-catch-virtual-reality-gaming-wave/

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[WENGER]

Well the article was well written and surely it got it's points but as much as I like this to happen, it won't (at least for this year) but 2017- 2018 could be the ideal one since the whole VR Gaming it's still on its initial stages and their going to focus more on the games itself before trying to actually integrating it with another technology. Regarding the main question here, my answer would be yes, Bitcoin can capitalize on the VR Hype but not in 2016, it's still a long road on that matter.

[mtnsaa]

I don't think VR is on its initial years as much as you do, if they work and people adopt the devices as they did with tablets and smartphones, then the business will skyrocket in less than a year if there is such demand. However I think if that happens, Google and Apple systems will just translate the same business model there.

[thejaytiesto]

Not sure how it can directly relate, maybe some visual app blockchain related? where you see blocks being mined in VR or something. Anyway, Palmer Luckey which is the creator the thing, when he was asked "when we will be able to buy Oculus Rift with Bitcoin", he replied "not yet!"

So this means this guy is pro-Bitcoin and will accept Bitcoin payments in the future. Oculus Rift is related to Facebook too so that's something big.

[mtnsaa]

I think Facebook will try to enter the same market as Apple and Google with the Oculus Rift and start developing an OS if it really take off. If it does, then Apple and Google will soon follow after that. It just depends on how much VR develops, for buying apps and music, CCs did the job, but maybe in a new virtual world a digital currency or token is actually needed.

[helloeverybody]

Ive had a DK2 since around the first or second batch and although for watching films and even gaming its pretty good especially the first time you try it. I wouldnt say its ready for consumer release , Saying that ive not tried the consumer version so maybe they have sorted the screen door effect. If bitcoin can be used for VR purchases that would be great too but i dont see why anyone would use it over conventional methods of payment.

[lumeire]

IMO It's not so important that BTCBTCBTC be used the same way as Google Wallet, Paypal, or Apple Pay, to purchase stuff or to spend in the VR world. It needs to take advantage of it's value-transfer system across the globe. I would like to see it replace wire-transfers, which are costly and slow, used for remittances across borders not serviced by traditional institutions, or even become the running protocol within the Internet-of-Things.

[mtnsaa]

IMO It's not so important that BTCBTCBTC be used the same way as Google Wallet, Paypal, or Apple Pay, to purchase stuff or to spend in the VR world. It needs to take advantage of it's value-transfer system across the globe. I would like to see it replace wire-transfers, which are costly and slow, used for remittances across borders not serviced by traditional institutions, or even become the running protocol within the Internet-of-Things.

Wire transfers are definitely another niche that Bitcoin entrepreneurs should take on and thrive. Price volatility is still a huge issue and another barrier is that wire transfers are generally used by common non tech savvy persons. However having offices like Western Union or even just ATMs that use Bitcoin as bridge for fiat transactions would be perfect. Fees would be high to cover the risk I guess...so you basically have Bitcoin Union...

[Amph]

I think Facebook will try to enter the same market as Apple and Google with the Oculus Rift and start developing an OS if it really take off. If it does, then Apple and Google will soon follow after that. It just depends on how much VR develops, for buying apps and music, CCs did the job, but maybe in a new virtual world a digital currency or token is actually needed.

they better try to use bitcoin as a integrated way of payment in their business, and use the existing blockchain instead of making a centralized version

if there was a possibility to tip in facebook small amount of bitcoin, the distribution would have been crazy already

[helloeverybody]

I think Facebook will try to enter the same market as Apple and Google with the Oculus Rift and start developing an OS if it really take off. If it does, then Apple and Google will soon follow after that. It just depends on how much VR develops, for buying apps and music, CCs did the job, but maybe in a new virtual world a digital currency or token is actually needed.

they better try to use bitcoin as a integrated way of payment in their business, and use the existing blockchain instead of making a centralized version

if there was a possibility to tip in facebook small amount of bitcoin, the distribution would have been crazy already

I Know it would be nice if they did but i dont see why they would. Since facebook own oculus and havent made any attempt as far as im aware to integrate it into facebook i dont see why Vr would get it anytime soon. its going to take a push from the btc community to get it moving.

Maybe the best way to get btc accepted by Vr is to approach all the indy developers since vr has a lot of them. the more of them that accept it the more likely it will become the standard for virtual reality.

[mtnsaa]

Well that actually sounds very interesting, I haven't even considered that. Many indie developers will most likely push Bitcoin as a method of payment. So maybe it could start a small integration and then become the standard. I agree Facebook won't even consider go into full BTC integration mode from the start. I don't think they will consider creating a token either, but we have to see how this evolve.

VR can be a new take like Second Life was, remember how that worked, you had Lindens as currency, you could buy properties, etc. So if VR really take off the possibilities are endless.

[maokoto]

I have seem Bitcoin related to VR a lot on sites like zapchain, and I think they can get along well. Tech guys tend to be interested in both things, so offers and deals relating both should work, and I agree, that should be capitalized.

[khalized]

probably in the months these technology become ready for all, meanwhile we can only wait.
for sure you can improve some aspect of btc with VR and vice-versa.
Both are new technologies, like wild west, in the gold rush, you can't know what aspected behind a corner

[eternalgloom]

However, judging by the initial hype surrounding VR, working bitcoin into VR gaming would make a much bigger splash than online retailers accepting the digital currency. Combining two cutting edge technologies into one Space Age gaming ecosystem is the stuff that sci-fi dreams are made of. More importantly for us, though, catching the VR wave would bring much more attention to Bitcoin, possibly sparking a large growth in users.

https://news.bitcoin.com/why-bitcoin-catch-virtual-reality-gaming-wave/

I don't think I agree with this statement. It would have a far far bigger impact if Steam decided to directly adopt Bitcoin as payment method. Or think of the impact it would have if Blizzard suddenly accepted Bitcoin or used it in a popular MMORPG.

[Snorek]

Virtual Reality in its current state is not mainstream ready. It is still more like a party technology and not something you will be using everyday.
For me it seems VR now is like these 3D TV which were popular 2 years ago. Now I rarely see them anymore and from what I read most of the 3D TV channel are gone.
Associating bitcoin with current VR technology won't bring our great results imo.

[European Central Bank]

No. What's really gonna blow the roof off is when machines start doing business directly with other machines all the time. That might easily double or triple the global economy and bitcoin is exactly what they need.

[btcprospecter]

Bitcoin should capitalise on the virtual reality bandwagon and why not it is just another form of currency giving the consumers the option to pay for virtual reality hardware with virtual money is genius if anything it would be great publicity for Bitcoin too. As more and more people start using virtual reality for gaming it could help spread bitcoin to people who would not of used or heard of it before