"Dell is now the world's largest ecommerce business to accept #bitcoin"

[freedomno1]

Big news. How much longer can the price continue to ignore these developments?

Honestly I don't think it will be much longer the market can only stay slumbering so long before it will get jolted back
Starting to consider moving a larger position back into bitcoins again those altcoins (the good ones) are tempting things

[smoothie]

This is huge. They will also be offering a discount for bitcoin purchases. 10%+ discounts for using BTC is what's going to drive consumer adoption.

Revenue numbers from Wikipedia: US$ 56.94 billion (2013)[3]

That's... Easily more than Overstock and NewEgg and Flowers.com and every other Bitcoin business put together. And then some.

Awesome. A company that has a yearly revenue that of several multiples of the market cap of Bitcoin.

Close to 7 times bigger than Bitcoin's market cap.

Can anyone say...."cho0 cho0"?

 

[freedomno1]

This is huge. They will also be offering a discount for bitcoin purchases. 10%+ discounts for using BTC is what's going to drive consumer adoption.

Revenue numbers from Wikipedia: US$ 56.94 billion (2013)[3]

That's... Easily more than Overstock and NewEgg and Flowers.com and every other Bitcoin business put together. And then some.

Awesome. A company that has a yearly revenue that of several multiples of the market cap of Bitcoin.

Close to 7 times bigger than Bitcoin's market cap.

Can anyone say...."cho0 cho0"?

 

I miss the goat cho0 cho0 train
Hmm seems like its almost been a year since that ad anniversary event lol.

[Cryptos2go]

Just posted this in another thread before I noticed this one. Not trying to spam so hope its ok..

 What the Dell? 

Are they doing it for the publicity and a few million in potential sales ? I don't know why they wouldn't.
Transaction savings? What would they save 1-3%? 3-5%?

What could the transaction savings become through the entire supply and manufacture chain? For non wage expense only? For wage and non wage expense?

What of the accounting? Would the blockchain ledger be useful? Could it reduce accounting costs?

Can we add to the list? Assuming these companies are in testing, is there a closing window for near term adoption (pre-holiday)?

-Best buy
-Wall mart
-And of course our good friends at Target.

Store (receipt) and Manufacturer (warranties) are registered/recorded (blockchain) at POS? POS gains second meaning (Point Of Selection?) due to automated checkout? **Potentially adding 2nd generational paradigm reference.** "When I was your age, we walked 5 miles through the snow and had to stand in line to buy things."

Better hang on Marty..

[Marbit]

Huge news. Kind of thought we would see more reaction from the market, but hey, I'll take any bullish move I can get. Just hope this slow grind up continues (or turns into a huge rally...either way....)

[An amorous cow-herder]

Just some simple math... Two thousand early adopters spend 50 BTC each on Dell hardware.
Result: 100k extra BTC sold on exchanges, triggering a healthy capitulation. 

is this a joke and I'm just being dumb? why would someone spend 30 grand on dell computers?

What part of "Alienware" did you not understand?
Two fully pimped desktops and a fully pimped laptop are you getting pretty close to those 30 grand.

[tsoPANos]

Wow! I have to say I am very impressed!
This will give bitcoin a new boost!
Publicity coming!

[Tzupy]

Just some simple math... Two thousand early adopters spend 50 BTC each on Dell hardware.
Result: 100k extra BTC sold on exchanges, triggering a healthy capitulation. 

is this a joke and I'm just being dumb? why would someone spend 30 grand on dell computers?

I dont think he was joking, unfortunately.

I was being sarcastic. The uber-bulls believe that because of this announcement a new wave of willing bagholders
will storm the exchanges with mountains of fresh fiat, pumping the price 'to da moon'. But this is as likely to happen
as the scenario I suggested, of 100k BTC quickly spent on Dell hardware by early adopters.
In reality, this only brings more legitimacy to bitcoin, so it won't be banned in the USA (which was already known since 2013).
For the price, it's mildly bearish, Dell BTC acceptance will probably add a small seller pressure on the exchanges.

As for the healthy capitulation, I am serious. The April drop to 340$ wasn't capitulation.
While it's possible to have a new bubble after the old one without capitulation, this would be the first time for bitcoin.
And I believe that in order to go 'to da moon' (actually, to enter the mania phase of the new bubble), a capitulation event is a must.

[Dragonkiller]

Yes, a 70% drop isn't capitulation 

[mmortal03]

I was being sarcastic. The uber-bulls believe that because of this announcement a new wave of willing bagholders
will storm the exchanges with mountains of fresh fiat, pumping the price 'to da moon'. But this is as likely to happen
as the scenario I suggested, of 100k BTC quickly spent on Dell hardware by early adopters.
In reality, this only brings more legitimacy to bitcoin, so it won't be banned in the USA (which was already known since 2013).
For the price, it's mildly bearish, Dell BTC acceptance will probably add a small seller pressure on the exchanges.

As for the healthy capitulation, I am serious. The April drop to 340$ wasn't capitulation.
While it's possible to have a new bubble after the old one without capitulation, this would be the first time for bitcoin.
And I believe that in order to go 'to da moon' (actually, to enter the mania phase of the new bubble), a capitulation event is a must.

Say Walmart, Target, or some grocery store chain started accepting them at the checkout line, meaning that I wouldn't have to pay a fee to convert back to dollars even to buy my groceries, and thus I could easily do my day to day shopping with bitcoins, do you think this would also cause a net seller pressure on the exchanges, causing the price to go down? Isn't there also the new confidence that such new merchant announcements cause, that may instead cause new individuals to be more willing to invest their dollars into it? If I can spend it directly for groceries, doesn't that provide less incentive to keep my money in dollars, or at least make me more comfortable with the fact that if I wanted to get rid of my bitcoins, that I wouldn't have to go to some foreign-based exchange online to sell them? Sure, any merchant using BitPay would still cause BitPay to have to do the exchanging with said foreign-based exchanges, but, at that point, BitPay could choose to pay their employees in bitcoins, who could then go spend them directly at the grocery store!

[freedomno1]

Yes, a 70% drop isn't capitulation 

Yep it isn't
http://www.cbc.ca/player/News/Business/ID/2375415659/

Good old memories in a mood to respread this around as a nostalgia lol.

[falllling]

no more moon for good news

[okthen]

Huge news. Kind of thought we would see more reaction from the market, but hey, I'll take any bullish move I can get. Just hope this slow grind up continues (or turns into a huge rally...either way....)

The price has actually gone down since the Dell news.
I'm really disappointed, everyday I open Coindesk and see so many good news, but price keeps too stable.

[Stery]

Bitcoin is active in dell.com checked today

This might be available only in the US

[Hyena]

I wonder if the price also remains stagnant when bad news pop out. Some China FUD would be nice for a while

[falllling]

I wonder if the price also remains stagnant when bad news pop out. Some China FUD would be nice for a while

no, bad news can easily kill bitcoin's price now

[Buo]

I wonder if the price also remains stagnant when bad news pop out. Some China FUD would be nice for a while

no, bad news can easily kill bitcoin's price now

Maybe bad news won't "kill" the price, but could start a (healthy?) small/big downswing.

[painlord2k]

The increasing adoption from larger and larger vendors will add in a non linear way to the price.
The push to raising exchange rate for bitcoins will be as more and more closed loops start to develop inside the economy.
E.G. Overstock sell Dell computers/HW for bitcoins, pay Dell with bitcoins, both keep part of their earnings in bitcoins and pay part of their workers with bitcoins (if workers want them).
Then Dell's employees shop at Overstock and Overstock employees shop at Dell. Overstock buy computers and HW for its own use from Dell, Dell buy stuff from Overstock for its own needs.
If they keep some of their profits in bitcoins, they would have bitcoins to pay for their expenses. Then they would be able to replenish the bitcoins spent  just not converting as much bitcoins they receive from buyers.

This would lead to an accumulation of bitcoins at Dell and Overstock, draining the market from the same amount of bitcoins.

More business join accepting and keeping some bitcoins, more close loops develop and more bitcoins will be drained from the exchanges and never converted back to fiat.

In the end this will drive the price up big time, but it is a slow process to move bitcoins from weak to strong hands. From people with short time preferences to long time preferences.

[NapoleonBonaparte]

Still waiting for Amazon to join in.

[Keyara]

Still waiting for Amazon to join in.

What about Ebay and Paypal?