Dell, China, and Bitcoin

[kashish948]

very very suprising the preic did not react to it!  i remeber the rally when DISH started accepting btc, why nothing when a 4x times bigger company does the same?
has it been assumed that at some point everyone will acccept BTC and that has been factored in the price?

[1715202715]

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[Benjig]

very very suprising the preic did not react to it!  i remeber the rally when DISH started accepting btc, why nothing when a 4x times bigger company does the same?
has it been assumed that at some point everyone will acccept BTC and that has been factored in the price?

One thing is that a company starts accepting bitcoin and another is that people use that method to pay, we need a detonator to bring people into this payment system.

[kashish948]

very very suprising the preic did not react to it!  i remeber the rally when DISH started accepting btc, why nothing when a 4x times bigger company does the same?
has it been assumed that at some point everyone will acccept BTC and that has been factored in the price?

One thing is that a company starts accepting bitcoin and another is that people use that method to pay, we need a detonator to bring people into this payment system.

the problem is BTC is actually present only in the US (maybe China as well to some extent). But other than that, BTC is not really popular in majority of the countries!

[novacn]

very very suprising the preic did not react to it!  i remeber the rally when DISH started accepting btc, why nothing when a 4x times bigger company does the same?
has it been assumed that at some point everyone will acccept BTC and that has been factored in the price?

Imho, as the bitcoin ecosystem becomes more mature, it tends to be increasely immune to news (Yes, not to groundbreaking ones), regardless of its positive or negative content.

[huobi_network]

Dell accepting bitcoin could be MUCH bigger than you think

http://ww4.sinaimg.cn/bmiddle/6d9e93aajw1eii0tf52tgj20hs0h6ac5.jpg

Andy, a Chinese, shared his experience on Weibo (Chinese Twitter). With the 10% discount, he bought an Alienware 14 (http://www.dell.com/us/p/alienware-14/pd.aspx) for 6442CNY in bitcoin

The same item is selling at 11999CNY in China: http://item.jd.com/1107676.html . He saved 46%

You may wonder why he couldn't buy it from dell.com directly before. Due to strict foreign exchange control, Chinese people could hardly have a "foreign currency credit card", and usual credit cards could not pay bills in USD or other foreign currency. As Dell now accepts bitcoin, Chinese people could order from dell.com directly, asking them to deliver to the US address of Haitao ( http://www.haitao.com/ ), who will then ship the item to China.

This is only the beginning.

But normal Joe Blogg's Chinese can't get Bitcoin easily.

46% discount should provide enough incentive for Joe Bloggs to open an account on huobi or okcoin. Despite China has banned bitcoin 10 times, I can tell you that, based on my first hand experience, Chinese people could still deposit fiat to exchanges in less than 30 minutes.

That is correct.

[boraf]

Dell accepting bitcoin could be MUCH bigger than you think

http://ww4.sinaimg.cn/bmiddle/6d9e93aajw1eii0tf52tgj20hs0h6ac5.jpg

Andy, a Chinese, shared his experience on Weibo (Chinese Twitter). With the 10% discount, he bought an Alienware 14 (http://www.dell.com/us/p/alienware-14/pd.aspx) for 6442CNY in bitcoin

The same item is selling at 11999CNY in China: http://item.jd.com/1107676.html . He saved 46%

You may wonder why he couldn't buy it from dell.com directly before. Due to strict foreign exchange control, Chinese people could hardly have a "foreign currency credit card", and usual credit cards could not pay bills in USD or other foreign currency. As Dell now accepts bitcoin, Chinese people could order from dell.com directly, asking them to deliver to the US address of Haitao ( http://www.haitao.com/ ), who will then ship the item to China.

This is only the beginning.

But normal Joe Blogg's Chinese can't get Bitcoin easily.

46% discount should provide enough incentive for Joe Bloggs to open an account on huobi or okcoin. Despite China has banned bitcoin 10 times, I can tell you that, based on my first hand experience, Chinese people could still deposit fiat to exchanges in less than 30 minutes.

That is correct.

Care to give out detail on how an average citizen can do fiat deposit?

What about withdraw?

[jl2012]

Dell accepting bitcoin could be MUCH bigger than you think

http://ww4.sinaimg.cn/bmiddle/6d9e93aajw1eii0tf52tgj20hs0h6ac5.jpg

Andy, a Chinese, shared his experience on Weibo (Chinese Twitter). With the 10% discount, he bought an Alienware 14 (http://www.dell.com/us/p/alienware-14/pd.aspx) for 6442CNY in bitcoin

The same item is selling at 11999CNY in China: http://item.jd.com/1107676.html . He saved 46%

You may wonder why he couldn't buy it from dell.com directly before. Due to strict foreign exchange control, Chinese people could hardly have a "foreign currency credit card", and usual credit cards could not pay bills in USD or other foreign currency. As Dell now accepts bitcoin, Chinese people could order from dell.com directly, asking them to deliver to the US address of Haitao ( http://www.haitao.com/ ), who will then ship the item to China.

This is only the beginning.

But normal Joe Blogg's Chinese can't get Bitcoin easily.

46% discount should provide enough incentive for Joe Bloggs to open an account on huobi or okcoin. Despite China has banned bitcoin 10 times, I can tell you that, based on my first hand experience, Chinese people could still deposit fiat to exchanges in less than 30 minutes.

That is correct.

Care to give out detail on how an average citizen can do fiat deposit?

What about withdraw?

Exchange has a list of authorized middlemen. Client sends fiat to a middleman with bank transfer, and the middleman will deposit CNY to the client's exchange account. It could be done within 30 minutes

Withdraw is same as before. Nothing has changed.

[jl2012]

This is true:

People have to transfer their money to a middle man first.

This is NOT true:

It is still pretty hard to get money into exchange markets like Huobi, OKcoin and BTCChina.

[Dalmar]

the problem is BTC is actually present only in the US (maybe China as well to some extent). But other than that, BTC is not really popular in majority of the countries!

Per capita it is a lot more popular in Northern European countries (Sweden, Netherlands etc.) and Israel than China or the US.

[Tzupy]

...
Exchange has a list of authorized middlemen. Client sends fiat to a middleman with bank transfer, and the middleman will deposit CNY to the client's exchange account. It could be done within 30 minutes
...

Important question: can the middleman deposit more CNY into his own exchange account, or he already has the CNY in his account and only moves the required sum to the client's account?

[ajareselde]

Dell accepting bitcoin could be MUCH bigger than you think

http://ww4.sinaimg.cn/bmiddle/6d9e93aajw1eii0tf52tgj20hs0h6ac5.jpg

Andy, a Chinese, shared his experience on Weibo (Chinese Twitter). With the 10% discount, he bought an Alienware 14 (http://www.dell.com/us/p/alienware-14/pd.aspx) for 6442CNY in bitcoin

The same item is selling at 11999CNY in China: http://item.jd.com/1107676.html . He saved 46%

You may wonder why he couldn't buy it from dell.com directly before. Due to strict foreign exchange control, Chinese people could hardly have a "foreign currency credit card", and usual credit cards could not pay bills in USD or other foreign currency. As Dell now accepts bitcoin, Chinese people could order from dell.com directly, asking them to deliver to the US address of Haitao ( http://www.haitao.com/ ), who will then ship the item to China.

This is only the beginning.

Only the beggining , yes, but keep in mind that gouvernment can just as easily simply make deposits to exchanges impossible.
It is a good start, allowing average person to gain little bit aditional discount, but i seriously doubt this will affect the price.

[FUR11]

I mean it's one more step and one more big company going the experimental way of accepting bitcoin. How many companies are just in for the media hype remains to be determined, but it's nevertheless a very important step for the self-fulfilling-prophecy theory that an increased adoption leads to an even higher adoption.
I just hope those companies don't just drop bitcoin anytime soon Have any done so, actually?

[jl2012]

...
Exchange has a list of authorized middlemen. Client sends fiat to a middleman with bank transfer, and the middleman will deposit CNY to the client's exchange account. It could be done within 30 minutes
...

Important question: can the middleman deposit more CNY into his own exchange account, or he already has the CNY in his account and only moves the required sum to the client's account?

It works like the MtGox USD code or the BTC-E USD code.

However, I suspect that some "middlemen" are actually employed by exchanges.

[jl2012]

I mean it's one more step and one more big company going the experimental way of accepting bitcoin. How many companies are just in for the media hype remains to be determined, but it's nevertheless a very important step for the self-fulfilling-prophecy theory that an increased adoption leads to an even higher adoption.
I just hope those companies don't just drop bitcoin anytime soon Have any done so, actually?

I couldn't see why they would drop bitcoin, as it costs them nothing to accept bitcoin.

[FUR11]

I mean it's one more step and one more big company going the experimental way of accepting bitcoin. How many companies are just in for the media hype remains to be determined, but it's nevertheless a very important step for the self-fulfilling-prophecy theory that an increased adoption leads to an even higher adoption.
I just hope those companies don't just drop bitcoin anytime soon Have any done so, actually?

I couldn't see why they would drop bitcoin, as it costs them nothing to accept bitcoin.

Well, if it stays drastically below your expectations (even for a rather experimental currency) you might just drop it just as well. It bitcoin still had a very bad image in the media or should it someday become obvious that it failed, you don't exactly want your name connected to it, do you?

[An amorous cow-herder]

I couldn't see why they would drop bitcoin, as it costs them nothing to accept bitcoin.

All it takes is for Coinbase or Bitpay to go bust and leaving the merchants with unpaid bills.
Not like anything similiar has ever happened with exchanges before.

[FUR11]

I couldn't see why they would drop bitcoin, as it costs them nothing to accept bitcoin.

All it takes is for Coinbase or Bitpay to go bust and leaving the merchants with unpaid bills.
Not like anything similiar has ever happened with exchanges before.

Yes, they are indeed one of the weak links when it comes to regular-businesses' bitcoin adoption. If they (who have an oligopoly on that kind of BTC-FIAT acceptance service) go bust and bitcoin hasn't already gained that much traction, many of their customers (the businesses) will be pretty upset and are just going to drop bitcoin acceptance and want to be done with it. This it a definitive risk for bitcoin adoption!

[PinkRanger]

very very suprising the preic did not react to it!  i remeber the rally when DISH started accepting btc, why nothing when a 4x times bigger company does the same?
has it been assumed that at some point everyone will acccept BTC and that has been factored in the price?

One thing is that a company starts accepting bitcoin and another is that people use that method to pay, we need a detonator to bring people into this payment system.

the problem is BTC is actually present only in the US (maybe China as well to some extent). But other than that, BTC is not really popular in majority of the countries!

there are several other countries that bitcoin is used in. Japan, Australia, Canada, Greece, cypress, Germany, France, England among others

[2_Thumbs_Up]

Alienware is kind of overpriced to begin with though, and I assume a very niche product in China. I'd be interested to see what the price difference is for more "standard products".

[azguard]

very very suprising the preic did not react to it!  i remeber the rally when DISH started accepting btc, why nothing when a 4x times bigger company does the same?
has it been assumed that at some point everyone will acccept BTC and that has been factored in the price?

One thing is that a company starts accepting bitcoin and another is that people use that method to pay, we need a detonator to bring people into this payment system.

the problem is BTC is actually present only in the US (maybe China as well to some extent). But other than that, BTC is not really popular in majority of the countries!

there are several other countries that bitcoin is used in. Japan, Australia, Canada, Greece, cypress, Germany, France, England among others

Germany have law on bitcoin if i remember correctly they voted on it last year i think.

Something is bothering me if I, You, He, She any1 purchases some dell machine let say for 1.5BTC rounded price with 1000$.

From time of purchase to delivery let say that price dropped/or goes high.

What will happen will they return some found or we have to pay additionally?