Breaking news: Baidu (NASDAQ:BIDU) accepts BITCOIN!

[trifith]

Why would a business with most of its income in the form of BTC rather than $, elect to exchange that BTC to $ to pay rather than just paying with BTC directly?

The dollar price is fixed when services are rendered, and due 30 days later.
The vendor charges more in bitcoins to cover their costs in converting them to fiat
Taxes
The dollar cost is the same month to month, while the BTC cost fluctuates with the exchange rate

[1714678145]

1714678145

[freedomno1]

Go China go

[Phinnaeus Gage]

Total bullshit.

Their address: 1NtbQKVFxAPc8mmBoWwRzhg7o3EMCBsxNg

Why not send money to it for no reason - just guess a random amount to send in return for something unclear and unpriced.

I did it for the LOLz. Cost me seven cents to send a penny, so I guess the joke was on me.

[sootedtho]

Again great news!!!

Of course the attention on btc is great, but is the attention potentially bad in terms for the exposure leading to more of an effort by the govt to try and regulate btc? Articles like this, http://www.coindesk.com/capital-one-closes-bank-account-bitcoin/ kinda scare me. The govt wants to regulate btc and in the process may places like coinbase be shut down?

Anyway im no expert in anythng btc but would like to learn more for sure!!! thanks for any responses. and sorry to got off topic a bit

 

[niothor]

https://blockchain.info/address/1NtbQKVFxAPc8mmBoWwRzhg7o3EMCBsxNg

Just received it's 5th transaction. Fuck the moon! This thing's aimed toward Mars.

This address is worth $32.59, you dope.

Half the transactions are probably from forum goers who are going to confuse the people manually confirming transactions and turn this into a failed experiment.

I do believe that the Chinese attitude toward Bitcoin is quite different than the western attitudes, though. And I think the Chinese entrepreneurs (and government) recognize this is an opportunity to finally be a technological first-mover.

There will probably be big news out of China soon, but this isn't it.

Agreed, I hope that was in jest. Most of these 'to the moon' comments make me ashamed to be involved in Bitcoin these days.
I saw this yesterday and was just guessing what the circlejerk would title it on /r/bitcoin. Almost as bad as the 'hold spartans' memes.

I cringed at the public notes, perception is of an ADHD riddled teenager who just learned where China is on world map, try to control your emotions a little please.

And please, what on earth is "Baidu Jashule" on address label. Is this a google-translate job?

Isn't that great?
It means bitcoin is no longer hard to use since idiots can send bitcoins too

ps.

Let's see what happens when the first retard sends a message with "Free Tibet!"

[runeks]

This is nice but I'll wait for a confirmation.

I'm waiting for 6 confirmations.

[Phinnaeus Gage]

How did this thread get over 25,000 views in less than a day?

[saif92]

How did this thread get over 25,000 views in less than a day?

because one of most needed breaking news working on this and most of community peoples very happy after reading this news

[Severian]

How did this thread get over 25,000 views in less than a day?

reddit and news.ycombinator.com were a big chunk of it.

[Phinnaeus Gage]

Something's not adding up right. I'm witnessing a page view every second.

[Severian]

Something's not adding up right. I'm witnessing a page view every second.

It's a big story and this is Bitcoin Central, after all.

And if you keep clicking the linky....

[freedomno1]

View power also now you need a traceback engine to see where traffic is coming from Phin

[viriat0]

Good news bitcoin up?

[SgtSpike]

https://blockchain.info/address/1NtbQKVFxAPc8mmBoWwRzhg7o3EMCBsxNg

Just received it's 5th transaction. Fuck the moon! This thing's aimed toward Mars.

This address is worth $32.59, you dope.

Half the transactions are probably from forum goers who are going to confuse the people manually confirming transactions and turn this into a failed experiment.

I do believe that the Chinese attitude toward Bitcoin is quite different than the western attitudes, though. And I think the Chinese entrepreneurs (and government) recognize this is an opportunity to finally be a technological first-mover.

There will probably be big news out of China soon, but this isn't it.

https://blockchain.info/address/1NtbQKVFxAPc8mmBoWwRzhg7o3EMCBsxNg

Wow! A 100% increase since the quoted-quoted post. It's so popular, it's turned into a meme for pasting public messages.

To be honest, I think the public message blockchain.info deal should be disabled.  The premise was nice, but it's turning every publicized address into a troll-fest.

[daoneway]

so you looking for another alt coin maybe? love the virtualcoinworld so far got about 1k euro in and i bought at around 90.

[CurbsideProphet]

http://finance.yahoo.com/news/chinas-google-now-accepting-bitcoin-182100345.html

And on the frontpage of Yahoo

Lazy bastards can't even translate it properly, just copy/paste from Google translate?  Really?  What is "music Bitcoin accelerated payment?"  No wonder I don't read this joke of a website for "news."

[thoughtfan]

A few of thoughts regarding this:

Unless, as suggested above, this is something the Jashule team have gone ahead with independently of the mother-company what I'm liking the thought of is that Baidu, in doing something as controversial are in my opinion almost certainly have checked out with govt officials whether there was any imminent ban.

Much more than the number of customers or amount of bitcoins that are used to buy their services for me is that this may be seen by other companies who have been considering it but with caution.

I love that it comes the day after the Chinese official guy talking about the need to de-Americanize global finance so that the whole world doesn't have to hold its breath when US politicians are throwing toys out of their pram.

I love it that if it is true that this is a sign that China may allow cryptocurrencies to thrive (I know that's many ifs) then it puts real pressure on the States to get its act together. If there's one thing we can be sure of it is that fear of losing out on the global power stage is a massive motivator for the US.  If they realise there is a minute chance what is happening is a major redistribution of wealth they have a big incentive to get their act together and put a stop to the red-tape jungle that is all the various states with their own petty money transmission laws.

In the meantime the rest of the world has a chance to catch up a bit on the headstart the US had with Bitcoin.  And even though many of the early hoards may be owned by Americans, being of the crypto-libertarian kind this may not benefit the US power-hungry ruling classes much anyway

I'm struggling to think of anything bad about this other maybe than there's a danger of news and wild speculation getting out of hand and landing us in a massive rally followed by another severe correction.  But even if/when that happens it doesn't destroy the protocol, Bitcoin will prevail

[btbrae]

Let's be realistic this is probably nothing to do with Baidu management or employees but some techy in a newly acquired subsidiary who convinced the boss to accept Bitcoin for their DDoS protection service.

[thoughtfan]

Let's be realistic this is probably nothing to do with Baidu management or employees but some techy in a newly acquired subsidiary who convinced the boss to accept Bitcoin for their DDoS protection service.

I accept there is a realistic probability that this is the case (as I acknowledged).  However, we should know this pretty soon if it is the case because the publicity will force the hand of the mother company to do some research as to its legitimacy.  They could embrace it, just let the experiment run even if it wasn't deliberate or, if China really doesn't want Bitcoin to be more than a minuscule novelty, instruct them to quietly drop it.

[Vycid]

Let's be realistic this is probably nothing to do with Baidu management or employees but some techy in a newly acquired subsidiary who convinced the boss to accept Bitcoin for their DDoS protection service.

I accept there is a realistic probability that this is the case (as I acknowledged).  However, we should know this pretty soon if it is the case because the publicity will force the hand of the mother company to do some research as to its legitimacy.  They could embrace it, just let the experiment run even if it wasn't deliberate or, if China really doesn't want Bitcoin to be more than a minuscule novelty, instruct them to quietly drop it.

Despite my initial skepticism, I agree. This is making headlines and will have the full attention of Baidu leadership. The next week or so will reveal whether this was just the action of an overenthusiastic employee.