Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Kazu]

Merchants want fiat not BTC.  Unless paypal merchants can receive BTC payments in USD, it will mean nothing.  The only other benefit is people can buy BTC with Paypal.  Cool addition but hardly an earth shattering update.  Even if such rumors were true, any rise in value would be little more than a speculative bubble if its just BTC -> BTC transactions.  My $0.02.

Would be worth more if it was 0.02 BTC

[1714222183]

1714222183

[Kazu]

The only way a merchant would want BTC is if a supplier wanted BTC. This could be just somebody selling a service, which would be fine, but if you are buying an actual product, you'd need the manufacturer to want BTC, which would mean you'd need some of the people working for the manufacturer to want BTC (or I suppose the raw goods provider).

What I'm trying to say is that no big company is going to want BTC at this point unless they are either (A) created from the ground up around BTC or (B) they have some way of offloading that BTC to individuals that want BTC. Companies at this point wont want BTC, people will.

[notme]

They are registered as a money transmitter almost all over the world. They must have a great legal team and lots of experience.
If they'd adopt it now they'd become the mtgox of bitcoin transmitting overnight.

Some day we will either laugh at thinking, that devil could adopt bitcoin, or laugh how we thought they didn't see the obvious opportunity.

Merchants want fiat not BTC.  Unless paypal merchants can receive BTC payments in USD, it will mean nothing.  The only other benefit is people can buy BTC with Paypal.  Cool addition but hardly an earth shattering update.  Even if such rumors were true, any rise in value would be little more than a speculative bubble if its just BTC -> BTC transactions.  My $0.02.

I tend to disagree. Adoption by a "bank" as huge as PayPal would:
1) Generate a massive media coverage.
2) Make much more things available for purchase using Bitcoin through PayPal's currency exchange.
3) Make many companies adopt Bitcoin if it'd be as easy as "selecting an option" in PayPal.

+1.  In addition, PayPal would love it because they could buy BTC with PPUSD.

[Ares]

Merchants want fiat not BTC.  Unless paypal merchants can receive BTC payments in USD, it will mean nothing.  The only other benefit is people can buy BTC with Paypal.  Cool addition but hardly an earth shattering update.  Even if such rumors were true, any rise in value would be little more than a speculative bubble if its just BTC -> BTC transactions.  My $0.02.

You mean sorta like exactly what BitPay does? Of course Paypal would include that option.

[adamstgBit]

The only way a merchant would want BTC is if a supplier wanted BTC. This could be just somebody selling a service, which would be fine, but if you are buying an actual product, you'd need the manufacturer to want BTC, which would mean you'd need some of the people working for the manufacturer to want BTC (or I suppose the raw goods provider).

What I'm trying to say is that no big company is going to want BTC at this point unless they are either (A) created from the ground up around BTC or (B) they have some way of offloading that BTC to individuals that want BTC. Companies at this point wont want BTC, people will.

i've sold goods and services ( sold ad space on my site...) for bitcoin, i keep the BTC!
I also buy good and services  using BTC  

[Coinseeker]

I tend to disagree. Adoption by a "bank" as huge as PayPal would:
1) Generate a massive media coverage.
2) Make much more things available for purchase using Bitcoin through PayPal's currency exchange.
3) Make many companies adopt Bitcoin if it'd be as easy as "selecting an option" in PayPal.

If BTC can be converted into fiat within the PayPal environment, then it could work.  If not, merchants will continue to reject virtual currencies and this "news" will make no difference except to us day traders who love to make money off the volatility created by the constant rumor/news junkies.

  

[adamstgBit]

The only way a merchant would want BTC is if a supplier wanted BTC. This could be just somebody selling a service, which would be fine, but if you are buying an actual product, you'd need the manufacturer to want BTC, which would mean you'd need some of the people working for the manufacturer to want BTC (or I suppose the raw goods provider).

What I'm trying to say is that no big company is going to want BTC at this point unless they are either (A) created from the ground up around BTC or (B) they have some way of offloading that BTC to individuals that want BTC. Companies at this point wont want BTC, people will.

i've sold goods and services ( sold ad space on my site...) for bitcoin, i keep the BTC!
I also buy good and services  using BTC  

getting paid in BTC is AWESOME  $_$

 

[Kazu]

The only way a merchant would want BTC is if a supplier wanted BTC. This could be just somebody selling a service, which would be fine, but if you are buying an actual product, you'd need the manufacturer to want BTC, which would mean you'd need some of the people working for the manufacturer to want BTC (or I suppose the raw goods provider).

What I'm trying to say is that no big company is going to want BTC at this point unless they are either (A) created from the ground up around BTC or (B) they have some way of offloading that BTC to individuals that want BTC. Companies at this point wont want BTC, people will.

i've sold goods and services ( sold ad space on my site...) for bitcoin, i keep the BTC!
I also buy good and services  using BTC  

You are an individual, not a company.

Contrary to 'popular belief' companies are not people

[notme]

The only way a merchant would want BTC is if a supplier wanted BTC. This could be just somebody selling a service, which would be fine, but if you are buying an actual product, you'd need the manufacturer to want BTC, which would mean you'd need some of the people working for the manufacturer to want BTC (or I suppose the raw goods provider).

What I'm trying to say is that no big company is going to want BTC at this point unless they are either (A) created from the ground up around BTC or (B) they have some way of offloading that BTC to individuals that want BTC. Companies at this point wont want BTC, people will.

Companies don't have to want BTC at this stage.  Let them take their fiat.

But when they start seeing the option to pay their suppliers in BTC they might look further.  It is only AFTER mass adoption that most merchants will want to accept it directly.  They don't want to be speculators, but if it can cut costs they might consider holding some briefly.  PayPal could give Bitcoin quite a bit of momentum in that direction by accepting Bitcoin payments for conversion to the recipient's local fiat for all accounts.  They already have the legal team with the most expertise in internet payment and currency conversion regulations.  They could leverage their unique capabilities, but they also know that they can time their entry because any other entrant has to spend a lot more time and money deciphering and meeting regulations.  Just because they will be ready to throw the switch doesn't mean they will just yet.

[adamstgBit]

The only way a merchant would want BTC is if a supplier wanted BTC. This could be just somebody selling a service, which would be fine, but if you are buying an actual product, you'd need the manufacturer to want BTC, which would mean you'd need some of the people working for the manufacturer to want BTC (or I suppose the raw goods provider).

What I'm trying to say is that no big company is going to want BTC at this point unless they are either (A) created from the ground up around BTC or (B) they have some way of offloading that BTC to individuals that want BTC. Companies at this point wont want BTC, people will.

i've sold goods and services ( sold ad space on my site...) for bitcoin, i keep the BTC!
I also buy good and services  using BTC  

You are an individual, not a company.

Contrary to 'popular belief' companies are not people

thats still up for debate

corporations are individuals in the eyes of the law.


so it would be perfectly legal for paypal to pump and dump bitcoin ; )

[Coinseeker]

Companies don't have to want BTC at this stage.  Let them take their fiat.

But when they start seeing the option to pay their suppliers in BTC they might look further.  It is only AFTER mass adoption that most merchants will want to accept it directly.  They don't want to be speculators, but if it can cut costs they might consider holding some briefly.  PayPal could give Bitcoin quite a bit of momentum in that direction by accepting Bitcoin payments for conversion to the recipient's local fiat for all accounts.  They already have the legal team with the most expertise in internet payment and currency conversion regulations.  They could leverage their unique capabilities, but they also know that they can time their entry because any other entrant has to spend a lot more time and money deciphering and meeting regulations.  Just because they will be ready to throw the switch doesn't mean they will just yet.

It's not like Paypal is going to reduce its fees.  I just don't see what benefit a business has to accept BTC over fiat, via PP.  if they are planning to do some Ripple-esque type deal where you can pay someone with BTC and they can receive USD, that would be cool.  Still expensive though.  If that were the case, it would be smarter to just plug into Ripple directly and do it right.

[Kazu]

The only way a merchant would want BTC is if a supplier wanted BTC. This could be just somebody selling a service, which would be fine, but if you are buying an actual product, you'd need the manufacturer to want BTC, which would mean you'd need some of the people working for the manufacturer to want BTC (or I suppose the raw goods provider).

What I'm trying to say is that no big company is going to want BTC at this point unless they are either (A) created from the ground up around BTC or (B) they have some way of offloading that BTC to individuals that want BTC. Companies at this point wont want BTC, people will.

i've sold goods and services ( sold ad space on my site...) for bitcoin, i keep the BTC!
I also buy good and services  using BTC  

You are an individual, not a company.

Contrary to 'popular belief' companies are not people

thats still up for debate

corporations are individuals in the eyes of the law.


so it would be perfectly legal for paypal to pump and dump bitcoin ; )

But I can't wire money to my Bitstamp account because I have an individual account but the money is coming from a corporate bank account.

And money is a form of speech, but AML laws aren't infringing on our freedom of speech.

Them politician guys are a fun bunch

[ChartBuddy]

[dexX7]

https://www.youtube.com/watch?v=Ruxbzee-5sY

Hey! That's my avatar!

Wow.. wow..

I never believed this is really you on the picture. But hey, it was a very pleasuring discovery!

[ChartBuddy]

[420]

been a while for me

so where we headed bitches?

what's the latest big news - and unrelated, how many BFL's have shipped?

[Kazu]

One major bearish sign is that there have been no recent bitcoin music videos made as far as I'm aware.

I've been waiting for a while for a video talking about how bitcoins are on sale (http://www.youtube.com/watch?v=JaAWdljhD5o) or "shit its 99 bucks" (http://www.youtube.com/watch?v=QK8mJJJvaes)
 

[justusranvier]

One major bearish sign is that there have been no recent bitcoin music videos made as far as I'm aware.

Zhou Tonged, Zhou Tonged, why have you forsaken us?

[QuestionAuthority]

One major bearish sign is that there have been no recent bitcoin music videos made as far as I'm aware.

I've been waiting for a while for a video talking about how bitcoins are on sale (http://www.youtube.com/watch?v=JaAWdljhD5o) or "shit its 99 bucks" (http://www.youtube.com/watch?v=QK8mJJJvaes)
 

(In a child's voice) Hey Macklemore can we go ASIC shopping?

[ChartBuddy]