[2014-05-22] Bitcoin Payments Initiative: Budweiser Partners with Coinbase

[CaptainBeck]

price just jumped 5.5% in literally 21 minutes. do you suppose this is why?

Nope... there were some bulk purchases (each of them averaging around BTC1,000) in the BTC-E exchange. That might be one of the reasons. The other reason might be the success of Bitpay fundraising.

Yeah, this has been out for a while, plus people in the know would know this stuff when it happens and they are the people likely to buy in volume like these 1000btc orders.

[bryant.coleman]

Yeah, this has been out for a while, plus people in the know would know this stuff when it happens and they are the people likely to buy in volume like these 1000btc orders.

News such as this one will definitely have a positive impact on the buyers. Bitcoin has risen by close to 25% during the last 3-4 days. We just need another big news, to propel it over the $1,000 mark. 

[CaptainBeck]

Yeah, this has been out for a while, plus people in the know would know this stuff when it happens and they are the people likely to buy in volume like these 1000btc orders.

News such as this one will definitely have a positive impact on the buyers. Bitcoin has risen by close to 25% during the last 3-4 days. We just need another big news, to propel it over the $1,000 mark. 

I'm hoping good BTC news are like buses, nothing for a while and then loads to surely bump that price.

[Silly Money]

This is really great if not a little random for a promotion. Glad to see companies involving bitcoin though.

[CaptainBeck]

This is really great if not a little random for a promotion. Glad to see companies involving bitcoin though.

Its working thou, because now we are talking about bud, and coinbase gets pud drinkers talking about them. Some times the random ones work the best.

[smoothie]

Dude!! I NEVER drink Bud! But this is HUGE!!!!!

Me neither. Just cool to see big businesses start accepting bitcoin for payment.

[Faince1985]

This is one big jump! There business is accepted and with that free 0.02 BTC people might actually try to understand it ( and a good chunck of people too considering how big the occasion is)

[bitsmichel]

This is one big jump! There business is accepted and with that free 0.02 BTC people might actually try to understand it ( and a good chunck of people too considering how big the occasion is)

Right on! Bitcoin going to the moon 

[CaptainBeck]

This is one big jump! There business is accepted and with that free 0.02 BTC people might actually try to understand it ( and a good chunck of people too considering how big the occasion is)

Yeah, when members of the general public are being given some by a big brand, if only a few of them find out more and pick it up, that will still be a big post for crypto.

[SirChiko]

Good marketing move indeed...making beer brand spreading bitcoin is great!

[open-mind]

Good marketing move indeed...making beer brand spreading bitcoin is great!

I agree!

If there will be discount for buying beer using Bitcoins, I become the happiest men in the world!

[Captain America]

I never liked budweiser, but  I respect such market step.

[bryant.coleman]

I agree!

If there will be discount for buying beer using Bitcoins, I become the happiest men in the world!

Talking about the discount.... the merchants are at advantage here, as their expenses are reduced. So they can afford to give some serious discount.

Take this example:

Bud's profit margin is 10%, and Visa / Master takes away 3% of that. Now if they use Bitpay, this 3% is lowered to 0.5%. So instead of 7%, they are getting 9.5% profits.

[Jesu]

This is really great if not a little random for a promotion. Glad to see companies involving bitcoin though.

Its working thou, because now we are talking about bud, and coinbase gets pud drinkers talking about them. Some times the random ones work the best.

We might be talking about it but how many people will be talking about bitcoin because of it? It's all good though I suppose.

[Bitcopia]

This is really great if not a little random for a promotion. Glad to see companies involving bitcoin though.

Its working thou, because now we are talking about bud, and coinbase gets pud drinkers talking about them. Some times the random ones work the best.

We might be talking about it but how many people will be talking about bitcoin because of it? It's all good though I suppose.

A lot. It's a much more significant and conversation worthy experience to receive and spend bitcoin than it is to read about it.

In 2012, more than 80,000 people attended this festival. If the average attendee tells 3 friends about their experience with free bitcoins at the festival, and each of those people tell an average of 1 person, then 560,000 people will be talking about bitcoin because of it. Not to mention the people who read the press release.

[jdun]

EtOH to the moon!!

[ENEWIT]

I agree!

If there will be discount for buying beer using Bitcoins, I become the happiest men in the world!

Talking about the discount.... the merchants are at advantage here, as their expenses are reduced. So they can afford to give some serious discount.

Take this example:

Bud's profit margin is 10%, and Visa / Master takes away 3% of that. Now if they use Bitpay, this 3% is lowered to 0.5%. So instead of 7%, they are getting 9.5% profits.

I also believe that it is necessary to introduce discounts to promote Bitcoin and according to your calculation it is realizable

[Bit_Happy]

Dude!! I NEVER drink Bud! But this is HUGE!!!!!

Me neither. Just cool to see big businesses start accepting bitcoin for payment.

Will they accept LiteCoin for Bud Lite?  

This is really great if not a little random for a promotion. Glad to see companies involving bitcoin though.

Its working thou, because now we are talking about bud, and coinbase gets pud drinkers talking about them. Some times the random ones work the best.

We might be talking about it but how many people will be talking about bitcoin because of it? It's all good though I suppose.

A lot. It's a much more significant and conversation worthy experience to receive and spend bitcoin than it is to read about it.

In 2012, more than 80,000 people attended this festival. If the average attendee tells 3 friends about their experience with free bitcoins at the festival, and each of those people tell an average of 1 person, then 560,000 people will be talking about bitcoin because of it. Not to mention the people who read the press release.

It would be hard to overstate how important this news is for Bitcoin.
A huge year has begun and I'm glad to be a part of it.

[Anon136]

Will they accept LiteCoin for Bud Lite?  

i loled