watch out Paypal ... Square accepts bitcoin now

[~Coinseeker~]

Someone doesn't understand how supply and demand works.

A lot of people don't understand supply and demand.  What does that have to do with a currency actually being useful to people?

[BTCtrader71]

1)  My debit card doesn't cost me anything to use.  Buying Bitcoin costs me 1% or more to get and that's if the price hasn't crashed by the time it clears Coinbase.  So, accepting all that risk, paying more and maybe getting a discount, is a non-starter.   

As with any new technology, there will be early adopters, late adopters, and everyone-in-between adopters. You're looking at things from the viewpoint of those who will be the late adopters. Fine, someone's gotta be last. The early adopters will think that sure, the price may crash, but then again it may go up too, the latter being more likely. And as time goes on, the volatility will decrease. You say maybe getting a discount. In fact they'll either get one or they won't, and if they do, they'll know it. The merchant, who HATES paying credit card fees, is incentivized to market bitcoin to them so that the merchant can avoid the credit card fees.

2)  Porn?  Is that really the best you can come up with.   

It's not the only example I can come up with. But it's a damn good one. So in the words of Ron Burgundy: "Don't pretend that you're not impressed!" .... 



PS It's a good example for two reasons:
1) Easy to understand the motivation for someone using bitcoin. No esoteric economic arguments needed. In fact, I think even Dogecoin community would get it ... Such motivation. Much privacy. Wow.
2) Historically, much of the early growth of the Internet was through porn. Like it or not, if it catches on in the porn industry, it helps lay the groundwork for more mainstream uses.

[Swordsoffreedom]

http://corner.squareup.com/2014/03/square-market-accepts-bitcoin.html

http://www.cryptocoinsnews.com/2014/03/31/why-square-bitcoin-integration-big-deal/

I haven't heard of square before myself but this seems to be interesting and attracting a lot of attention so neat

Although the first comment I read is that its an April fools joke in which case that would be in bad taste

OH DAMN need to watch out for tomorrow fake news feeds lol

[removebeforeflight]

This is cool, quite a few smaller merchants in
Victoria (Canada) accept square.i

[BTCtrader71]

http://corner.squareup.com/2014/03/square-market-accepts-bitcoin.html

http://www.cryptocoinsnews.com/2014/03/31/why-square-bitcoin-integration-big-deal/

I haven't heard of square before myself but this seems to be interesting and attracting a lot of attention so neat

Although the first comment I read is that its an April fools joke in which case that would be in bad taste

OH DAMN need to watch out for tomorrow fake news feeds lol

Can't be an April Fool's joke ... they announced it March 31.

[Swordsoffreedom]

Can't be an April Fool's joke ... they announced it March 31.

I hope so as well but that was cutting it a bit close 

[giletto]

Can't be an April Fool's joke ... they announced it March 31.

How this make sense? A April joke can announced a day before, there is no rules.

[Cryptock]

Good news.

[BTCtrader71]

More selling pressure from retailers, that is what bitcoin needs right now.

Could be bearish in the short term, but in the long term, it's bullish. tl;dr: buying opportunity.

[Lannister]

Good news
hope this great news help BTC prices climbing up again

[porcupine87]

1)  My debit card doesn't cost me anything to use.  Buying Bitcoin costs me 1% or more to get and that's if the price hasn't crashed by the time it clears Coinbase.  So, accepting all that risk, paying more and maybe getting a discount, is a non-starter.    

As with any new technology, there will be early adopters, late adopters, and everyone-in-between adopters. You're looking at things from the viewpoint of those who will be the late adopters. Fine, someone's gotta be last. The early adopters will think that sure, the price may crash, but then again it may go up too, the latter being more likely. And as time goes on, the volatility will decrease. You say maybe getting a discount. In fact they'll either get one or they won't, and if they do, they'll know it. The merchant, who HATES paying credit card fees, is incentivized to market bitcoin to them so that the merchant can avoid the credit card fees.

2)  Porn?  Is that really the best you can come up with.    

It's not the only example I can come up with. But it's a damn good one. So in the words of Ron Burgundy: "Don't pretend that you're not impressed!" ....  

Porn is really a good argument. And other digital goods. Imagine you are a porn producing company. You are faced with several websites which offers porn for free but likely in a bad quality. But this is changing (I heard from a friend *harrumph*). So because porn is the thing everyone uses but is ashamed to say that often, there are no advocates in the parlament arguing there has to be done someting (other than in the music industry).
So let's pretend you click download on a high quality 30min porn and what do you see? An QR-Code with bitcoin address which wants 50Cent or 1$ in bitcoin from you. Hell fuck yeah, I want to see that movie! Ok maybe I will find it with searching the internet but I want it now. So fuck it. I pay! Just to avoid credit cards which can see my wife maybe I would pay per credit card too, but I want to abo (subscription).

Same with music. One dollar for a whole album is better than zero dollar. Or movies. Let's pretend you want to watch a movie with your friends or girlfriend in high quality. Yes, there are services like Amazon, netflix etc. but many people don't have and want this.

The target it occasion buyers.

I really wonder why the pornindustry is not doing this. My friend would use it...

The other point: Bitcoin has to become the money of internet. I don't see paying with Bitcoin in the supermarket in the near future. Why should I buy Bitcoin (1% fee) + risk to - maybe - get a small discount. Large comapnies don't pay high fees. Walmart pays maybe 1%. So Bitcoin should be used as digital good first. But then, when people use it in the internet (you when it is conveniant to just have 1 or 2 Bitcoin, maybe as an investmnent, too) maybe companies start to pay a small amount of the salary in Bitcoin. Let's say your salary is $3000, so come on. $2900 + $100 in Bitcoin. Would an employee opt in?

I see a bright future as long the goverment don't fucks it up or consumer do not prefer other new kinds of money (like google money, ripple etc.).

[~Coinseeker~]

1)  My debit card doesn't cost me anything to use.  Buying Bitcoin costs me 1% or more to get and that's if the price hasn't crashed by the time it clears Coinbase.  So, accepting all that risk, paying more and maybe getting a discount, is a non-starter.    

As with any new technology, there will be early adopters, late adopters, and everyone-in-between adopters. You're looking at things from the viewpoint of those who will be the late adopters. Fine, someone's gotta be last. The early adopters will think that sure, the price may crash, but then again it may go up too, the latter being more likely. And as time goes on, the volatility will decrease. You say maybe getting a discount. In fact they'll either get one or they won't, and if they do, they'll know it. The merchant, who HATES paying credit card fees, is incentivized to market bitcoin to them so that the merchant can avoid the credit card fees.

2)  Porn?  Is that really the best you can come up with.    

It's not the only example I can come up with. But it's a damn good one. So in the words of Ron Burgundy: "Don't pretend that you're not impressed!" ....  

PS It's a good example for two reasons:
1) Easy to understand the motivation for someone using bitcoin. No esoteric economic arguments needed. In fact, I think even Dogecoin community would get it ... Such motivation. Much privacy. Wow.
2) Historically, much of the early growth of the Internet was through porn. Like it or not, if it catches on in the porn industry, it helps lay the groundwork for more mainstream uses.

I looking at things from a realistic point of view.  You're basing your assumptions on emotions.  What you "hope" will happen, so you can benefit.  What merchant wouldn't love to avoid fees?  That's a no brainer but what consumer wants to transact without consumer protections and chargeback abilities when merchants don't deliver?  What consumer what's to spend 1% up to 10% just to obtain Bitcoins to spend them.  Nobody, just people who want Bitcoin to go to the "moon".  And they aren't really using them to purchase anyway.  They are holding, right?

If porn is the best you can do, that can be accomplished much easier with much more abundant currencies like Dogecoin, for example or a combination of cheaper and more abundant altcoins.  Access is what will make these currencies useful and thus valuable.  Not the other way around.  Bitcoin will likely survive for the handful of people who have them.  That's great...but chances of Bitcoin becoming a global currency: 0

The only thing that "impresses" me about Bitcoin, is it solved the double-spend problem.  But now we know how to duplicate that.  Bitcoin as a transactional currency, is not impressive, in fact it's a little embarrassing that we're still talking about the 1.0 version of cryptocurrency.  We already have better options...it's coming time to move on.  Meaning the general public, the only people that actually matter in deciding what will become adopted.

[ErisDiscordia]

The market right now is overreacting to bad news - even taking favorable news and making it bad. In a few months, it will be overreacting to good news (again), and the cycle will repeat itself.

Heh. There is a "this is actually good news" meme, which has made its way onto some T-shirts now - poking fun at the bullish bias of the Bitcoin community, which has been known to treat absolutely everything as "actually good news" for Bitcoin. But that was during the irrational exuberance phase. Now it seems the polar opposite "this is actually bad news" meme is active instead. This is to be expected, since we seem to be very close in time to the very bottom of this bear market.

[BTCtrader71]

I really wonder why the pornindustry is not doing this. My friend would use it...

Your friend may already be using it:

http://www.coindesk.com/leading-adult-site-porn-com-now-accepts-bitcoin/
http://www.coindesk.com/bitcoin-10-percent-porn-com-sales/
http://www.coindesk.com/playboy-plus-accepting-bitcoin-payments/
http://www.coindesk.com/naughty-america-bitcoin-acceptance/

[BTCtrader71]

... that can be accomplished much easier with much more abundant currencies like Dogecoin, for example or a combination of cheaper and more abundant altcoins.  Access is what will make these currencies useful and thus valuable.  Not the other way around.  Bitcoin will likely survive for the handful of people who have them.  That's great...but chances of Bitcoin becoming a global currency: 0

I'm fine with letting the best crypto win, be it bitcoin, dogecoin, or whatever. I'm betting that bitcoin's first-mover advantage will be the deciding factor. Are you saying that dogecoin is more "accessible" than bitcoin? Suppose I want to send my mom flowers for her birthday. Why would I choose dogecoin over bitcoin?

[igorr]

PayPal and Bitcoin never,
I am send ticket to PayPal support service, and I get negative response from PayPal.

[Dr. LY]

Not the little square reader, yet.

Just the online side.

[~Coinseeker~]

... that can be accomplished much easier with much more abundant currencies like Dogecoin, for example or a combination of cheaper and more abundant altcoins.  Access is what will make these currencies useful and thus valuable.  Not the other way around.  Bitcoin will likely survive for the handful of people who have them.  That's great...but chances of Bitcoin becoming a global currency: 0

I'm fine with letting the best crypto win, be it bitcoin, dogecoin, or whatever. I'm betting that bitcoin's first-mover advantage will be the deciding factor. Are you saying that dogecoin is more "accessible" than bitcoin? Suppose I want to send my mom flowers for her birthday. Why would I choose dogecoin over bitcoin?

Good, because I feel the same.  I just want to see "crypt" change the world for the better.  I don't care what "brand name" you put on it.

I use Doge as an example, because there are billions of them and the community just passes them around, tips each other.  They don't really concern themselves with over-hoarding.  Like most things, they lack infrastructure, but that's easy.  Anything that is "Bitcoin" infrastructure can be Doge infrastructure.  I'm looking at the long-term roll out of crypto and as an example, Doge offers a more inclusive and less extremist community and they are much more willing to spread around the wealth.  This combination can lead to 100's of millions of people holding Dogecoin at very small entry prices.  With that kind of user adoption, businesses will obviously cater to that.

This is where Bitcoin messed up, IMO.  Poor distribution that likely can never be solved, unless the large coin holders start freely distributing Bitcoin to millions of people.  Doubt that's going to happen.  Like I said earlier, people can't spend what they don't have and paying fees to buy Bitcoin, just to make purchases, makes no sense for the average consumer.

[Syke]

1)  My debit card doesn't cost me anything to use.  Buying Bitcoin costs me 1% or more to get and that's if the price hasn't crashed by the time it clears Coinbase.  So, accepting all that risk, paying more and maybe getting a discount, is a non-starter.

LOL. Complaining about a 1% fee when the value of bitcoins is up about 500% from a year ago. Boohoo, that leaves you with only 499% profit!

[Rygon]

In the past year, I've paid through Square much more often through Paypal since it's a lot more popular with small businesses. This is good news for me since I can pay with the bitcoin while avoiding the hassle of exchanging for fiat beforehand.