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Author Topic: Samsung Galaxy S10 Crypto Offering A bullish sign?  (Read 368 times)
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February 25, 2019, 04:02:39 PM
 #21

Hey there, I was just browsing few posts on facebook and I suddenly saw the post by NEWSBTC regarding the Crypto Offering on Samsung Galaxys S10. I just want to ask your speculation on market sentiments. Will this be a positive outlook for the crypto market? Here is the link ttps://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin.
 What do you think?
Apparently Samsung will have some sort of blockchain device on their phone like a wallet or private key storage type deal.

I mean it is not really highly understood right now but their next line will have something to do with crypto, maybe it would help you save the private keys of your wallet so you never lose your wallet or maybe it is a wallet itself but in the end having it on your phone built in default is not really that big of a deal when there are thousands of apps that does the same thing anyway, people who do not use bitcoin will not care and people who use bitcoin already has apps that they use so it would be silly. It is always better than not having it so don't get me wrong its cool but its just not the big step we are looking for in order to reach the next bull run.
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February 25, 2019, 04:05:03 PM
 #22

I don't recommend this phone if you can't afford to place your money in it an if you just want a secured wallet for your cryptocurrency I really think we should go in a cheaper and has the same feature of security But if you sure want the multiple convenient of a smartphone and a cryptocurrency wallet I guess it is a shot to make a saving's in buying this because I really think it will make your life easier and had a perks of a laptop than a mobile device, because of its stunning specs and features, But the downside most people would surely agree is the stunning price hike because you can surely take a cheaper one even if their specs are not like this but can surely compete with this phone.

 
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February 25, 2019, 05:03:39 PM
 #23

the Samsung cryptocurrency related news was a vague one at best. in fact most of it was rumors that has been circulating online and things like that are not known to be a "bullish sign" in my experience.

on the other hand this is a good step towards mass adoption though. because it offers a way for anyone to have a bitcoin wallet on their phones a lot easier and in a way as default preinstalled applications and that can always be a good thing.

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February 25, 2019, 07:50:14 PM
 #24

the Samsung cryptocurrency related news was a vague one at best. in fact most of it was rumors that has been circulating online and things like that are not known to be a "bullish sign" in my experience.

This time, they confirmed it would have private key storage in a press release.

Anyway in my experience, it really depends on the market sentiment. In the middle of a bubble, I think confirmed news from Samsung like this might trigger FOMO to new highs because there is already so much pent up demand and scarce supply.

Right now during the bear market, there is no effect because there is so little interest in crypto right now. The market is full of bagholders too, and they'll sell into any news rally.

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February 25, 2019, 09:49:54 PM
 #25

on the other hand this is a good step towards mass adoption though. because it offers a way for anyone to have a bitcoin wallet on their phones a lot easier and in a way as default preinstalled applications and that can always be a good thing.
That's definitely a good thing, and another advantage that comes with these pre-installed client applications is that the competition between clients will be upped a notch or two.

I am currently using the Electrum mobile client, but it should do something about its UI, and that also applies to most other reputable clients. I get it that security is the most important thing, but come on, UI is also important.

It may sound ridiculous, but people really choose clients based on how they look, and most of these pretty UI clients are simple to understand and use, which is another department where reputable clients lack.

 
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February 26, 2019, 12:32:26 PM
 #26

I dont think that this feature has an immediate effect on the market. This might take sometime, because the primary purpose for this is to make cryptocurrency widely known from every corner of the earth. And maybe Samsung believes the potential of this technology.

Upcoming issue on that private key storage is inevitable, that'll be expected.

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February 26, 2019, 07:03:34 PM
 #27

I dont think that this feature has an immediate effect on the market. This might take sometime, because the primary purpose for this is to make cryptocurrency widely known from every corner of the earth. And maybe Samsung believes the potential of this technology.

Indeed. This is a subtle addition, not an ejaculation in your face. It adds up to stuff that counts some day but it'll be hard to detect and there won't be any effect in the meantime. It's a brick in the foundations of something bigger, not the main event.

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February 26, 2019, 08:17:15 PM
 #28

Indeed. This is a subtle addition, not an ejaculation in your face. It adds up to stuff that counts some day but it'll be hard to detect and there won't be any effect in the meantime. It's a brick in the foundations of something bigger, not the main event.

agreed but i wouldn't call it subtle. what they're doing is totally unprecedented and they own like 20% of the worldwide smartphone market. we obviously can't expect an immediate effect---it's a bear market and the phone isn't even out lol. but when the next bubble rears its head, the fact that so many people will have a trusted native app for bitcoin/crypto storage built into their phone......that's pretty huge. that's a ringing endorsement of cryptocurrency from one of the most trusted smartphone brands in the world.

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February 27, 2019, 06:35:43 AM
 #29

Hey there, I was just browsing few posts on facebook and I suddenly saw the post by NEWSBTC regarding the Crypto Offering on Samsung Galaxys S10. I just want to ask your speculation on market sentiments. Will this be a positive outlook for the crypto market? Here is the link ttps://www.newsbtc.com/2019/02/21/underestimate-samsung-galaxy-s10-crypto-millions-exposed-bitcoin.
 What do you think?

It depends of what reviews Samsung Galaxy S10 will get after it's launch.If the people hate it,the crypto wallet on the smartphone won't matter that much.If the people like it,millions of noobs will get into the crypto world.
If this smartphone is successful,Apple might try to copy what the competition is going and implement crypto wallets as well. Grin

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February 27, 2019, 07:11:30 AM
 #30

haha, this would only lead to a rise if you think random people on the street reading this are going to start buying bitcoin. do you really think that?
obviously the random people who aren't yet familiar with bitcoin don't even care about this news. it may create some interest in them as to what this new thing in Samsung's advertisements is but not enough for them to think about actually buying bitcoin yet. specially with all the FUD that is scaring them off these days.

Lol well to be fair, if people found some random feature on their shiny new phone, it's likely they'd want to try it out. I don't think it's projected to be a smash hit for adoption or anything, but putting crypto within reach of a new set of people can't be a bad thing. Samsung is also quite reputable as a brand, and that may help convince some skeptics to give it a chance.

I don't think we're going to be feeling any immediate effect from this, but it's pretty huge and could even make other vendors follow suit. Let's hope it works well and catches on. If implemented well enough, it will also make Bitcoin more portable, and therefore better suited for point of sale transactions.

but it is not just a feature that you could "try". it is a feature that requires "spending money" to try. which means signing up on an exchange, verifying your identity, waiting for the time required for them to accept you and then transfer funds from your bank to exchange, wait for that to complete, then buy bitcoin and transfer it to that "feature" and try it out!
this is the main reason why i said it is not going to happen for people who don't have prior familiarity with bitcoin already.

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February 27, 2019, 10:24:49 AM
 #31

It has a big effect to the market, a positive effect.
I just read some news related to this topic, this is about Enjin Coin  that has pumped because of rumors that samsung s10 will add an enjin coin wallet.

https://dailyhodl.com/2019/02/26/enjin-coin-pumps-153-on-samsung-rumors-binance-ceo-says-xrp-has-proven-its-value-and-crypto-hedge-fund-pantera-reveals-its-investments/
Quote

Enjin Coin Surges 153%

The price of Enjin Coin (ENJ) surged 153% in just over 24 hours after rumors surfaced that the company’s crypto wallet will be installed on Samsung’s Galaxy S10. The price is currently at $0.0962, up from $0.0362 little more than a day ago, according to CoinMarketCap.

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February 27, 2019, 11:06:48 AM
 #32

I dont think that this feature has an immediate effect on the market. This might take sometime, because the primary purpose for this is to make cryptocurrency widely known from every corner of the earth. And maybe Samsung believes the potential of this technology.

Upcoming issue on that private key storage is inevitable, that'll be expected.
The cryptos enable feature smartphone by Samsung  will make crypto to gain more popularity possibly more adoptions but I agreed with you that its effect in the market might not be felt now however in a long run definitely its going to make some differences in term of having a well secured mobile wallet whose owners might want to try out having some cryptos and test the wallet functionality.

 
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February 27, 2019, 11:53:59 AM
 #33

It's not just limited to this, I'm sharing 2 more links:

https://cointelegraph.com/news/unconfirmed-crypto-startup-enjin-to-back-rumored-samsung-galaxy-s10-blockchain-wallet
^ A rumor which made ENJ pump like hell.

Another one:
https://www.chepicap.com/en/news/7718/6-projects-that-are-potentially-involved-in-the-samsung-digital-wallet.html
^ Watch this and you'll know which ones are involved (not assured though).

Whether it's a bullish sign or not for the whole crypto market, but it is definitely working out for those coins which are said to be used in Samsung's digital wallet.

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February 27, 2019, 12:37:32 PM
 #34

Let's be honest, it's just the feature on the mobile phone. This will not have impact on the market, such expectations are exaggerated. It's a positive news because other companies would probably follow this example to stay competitive and on the general level is good news for cryptocurrencies overall but don't expect this will rise the price. Even if it will, this will be in a very small range and short term.

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February 27, 2019, 03:59:13 PM
 #35

Even it will be a big sign, the market manipulators will make it as it never happened, selling huge amounts of BTC just to maintain the current price and thus making it harder to climb up again. Also people who bought BTC when it was at it's ATH, for sure they just waiting maybe around somewhere hoping they could get their money back. I believe it will possible for BTC to be rising again when this kind of news never stops and should be continues.
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February 27, 2019, 11:23:50 PM
 #36

Let's be honest, it's just the feature on the mobile phone. This will not have impact on the market, such expectations are exaggerated. It's a positive news because other companies would probably follow this example to stay competitive and on the general level is good news for cryptocurrencies overall but don't expect this will rise the price. Even if it will, this will be in a very small range and short term.

Why do you think this will not affect the price in any means? Samsung is one of the best and highly used brands in the world and it holds a very handsome share in terms of smartphone sales, so why can't it accelerate crypto purchases when those who don't know nothing about crypto will get to know through it? All the media is currently capturing this and this has become news, so what makes you think that there will be no impact?
Cheer up, we are being mainstreamed!

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February 28, 2019, 01:32:43 AM
Merited by mirakal (2)
 #37

We don't have to expect that it will instantly effect on the market, this is a big improvement and of course a big sign.
Market manipulators will continue to manipulate the market while they still have the power, but the moment institutional money will increase it will result to a decrease of their power and it will be hard for them to manipulate the market, slowly but surely, we are moving good.

Even it will be a big sign, the market manipulators will make it as it never happened, selling huge amounts of BTC just to maintain the current price and thus making it harder to climb up again. Also people who bought BTC when it was at it's ATH, for sure they just waiting maybe around somewhere hoping they could get their money back. I believe it will possible for BTC to be rising again when this kind of news never stops and should be continues.

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February 28, 2019, 01:34:21 AM
 #38

Is this trying to say that we will be able to buy galaxy s10 for bitcoin officialy? Link you posted is down tho.


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mirakal
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February 28, 2019, 01:58:34 AM
 #39

Is this trying to say that we will be able to buy galaxy s10 for bitcoin officialy? Link you posted is down tho.
Not necessarily but this means adoption.

Crypto wallet is not so important if mot merchants are still not accepting crypto, maybe we will see this growth in the future
but the the fact that samsung started adopting this, it will result to boost of confidence to other businesses.
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February 28, 2019, 03:31:51 AM
 #40

If we are talking about a immediate pump on the price then I would say no, but if we consider that many crypto will slowly used this feature in their smart phone or even wanted to test it out, then will need to buy bitcoin.

And then there are those non-crypto we might turn out to be investors or holders as well, so in the long term if might have swayed a few but I don't think it is the needed catalyst for a bull run though.

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