Bitcoin Price Jumps with Microsoft News. [image for sharing]

[gjgjg]

Why price jump?  Bitcoin needs more users not more merchants who'll liquidate within 10 seconds for $Fiat.

It's the hen/egg problem all over again.
More merchants being associated with bitcoin, mean more people are hearing about bitcoin, might look into it and might buy some.
Microsoft using Bitcoin also helps the image of Bitcoin. It's hard to say it is money for buying drugs and other illegal things, when Microsoft is using it.

Sure, the best thing for Bitcoin would be a product, that everybody wants and you can just buy with bitcoin. Next best thing, is that people get a discount for using bitcoin, they wouldn't get otherwise. But I think, the pure size and world wide(!) degree of popularity of Microsoft(I am from Austria and would have never heard about Overstock without Bitcoin),  makes up for that.

Btw. the hen/egg-question is actually easy to answer: The egg was there first.

agreed on the egg being first:)

but i think btc is just as clear cut - the merchants need to get in wholesale before the masses will care even a little about btc. why would most people bother using btc until they can use it in most places (like visa 15 years ago, most ppl didnt use it bcs not many places accepted it). the merchants need to also accept that itll take years of more and more merchs adopting it before they see significant randomers using it.
were now in the slow growth stage it seems. hold on to your zimmer frames.

a unique product that can only be bought with btc is interesting. maybe we can get a band like radiohead to release an album early for btc only... or something like that... i smell a petition coming on

[turvarya]

Why price jump?  Bitcoin needs more users not more merchants who'll liquidate within 10 seconds for $Fiat.

It's the hen/egg problem all over again.
More merchants being associated with bitcoin, mean more people are hearing about bitcoin, might look into it and might buy some.
Microsoft using Bitcoin also helps the image of Bitcoin. It's hard to say it is money for buying drugs and other illegal things, when Microsoft is using it.

Sure, the best thing for Bitcoin would be a product, that everybody wants and you can just buy with bitcoin. Next best thing, is that people get a discount for using bitcoin, they wouldn't get otherwise. But I think, the pure size and world wide(!) degree of popularity of Microsoft(I am from Austria and would have never heard about Overstock without Bitcoin),  makes up for that.

Btw. the hen/egg-question is actually easy to answer: The egg was there first.

agreed on the egg being first:)

but i think btc is just as clear cut - the merchants need to get in wholesale before the masses will care even a little about btc. why would most people bother using btc until they can use it in most places (like visa 15 years ago, most ppl didnt use it bcs not many places accepted it). the merchants need to also accept that itll take years of more and more merchs adopting it before they see significant randomers using it.
were now in the slow growth stage it seems. hold on to your zimmer frames.

a unique product that can only be bought with btc is interesting. maybe we can get a band like radiohead to release an album early for btc only... or something like that... i smell a petition coming on

There is already a website that can be used to release videos early for Bitcoins:
http://www.watchmybit.com/

It is just in Beta, but there is already a (professional) web-series, you can just watch there.

[Flashman]

So what is the opposite of a FUD post? How about we call then FHP  a False Hope Post. This is a perfect FHP.

You do realize this time last week LOOOONG before the Microsoft news came out Bitcoin was trading at 368 to 377 dollars? A price jump of 20 dollars in nay direction has absolutely no influence. This is normal day to day Bitcoin trading. It seems, to be Completely Honest about it, there was absolutely no effect to the trading market with the acceptance of Bitcoin by Microsoft, Just trading business as usual.

haha, i agree.

But I think I covered that pretty well in the OP:

In all honesty, as we all know here, the price jump isn't that big. Bitcoin has seen way bigger jumps and dips. But the link to Microsoft is very cool, and people will react to this because everyone knows Microsoft. It serves as a good publicity for Bitcoin, so spread the word!

So yes, you're right, the price jump is basically totally negligible. But the graphic is not to impress bitcoin users, it's for public relations.  If it gets a few more people interested, then that's mission accomplished to me. Just trying to do my part 

The $$$ on the markets isn't long term funds it's day trading money... we've still got something like a 2 or 3 day lag for people who know what they are doing to get significant amounts of money into exchanges. The newbies this might draw in could be several days more than that figuring it out....

[HCLivess]

Previously on the internet:
Price goes to 1K, people start selling.

Upcoming:
Bears try to buy back, but holders keep in light of the news. Price doubles in a few days.

[bornil267645]

It's obvious isn't it. That's seems to be the order of the Bitcoin market.

[botany]

Previously on the internet:
Price goes to 1K, people start selling.

Upcoming:
Bears try to buy back, but holders keep in light of the news. Price doubles in a few days.

When the next surge comes, its pace will surprise even the believers.

[start the art]

Nice jump.
People still wants to sell their coins.
Price should go to 300 usd, to capture energy for the next step.
If....

[franky1]

a price jump based purely on a media story is not good. simply because its speculative. what would be good is where a bank physically buys lots of coins (such as the upcoming winkle ETF) which pushes up the price due to demand, rather then media stories

[freedomno1]

I made this image you can share with people if you want:


In all honesty, as we all know here, the price jump isn't that big. Bitcoin has seen way bigger jumps and dips. But the link to Microsoft is very cool, and people will react to this because everyone knows Microsoft. It serves as a good publicity for Bitcoin, so spread the word!

I posted it on my Facebook page.

I feel slow, since I didn't notice that Microsoft just adopted bitcoin in its store until I saw this thread
This is great news thanks for sharing
Looking forward to using my Bitcoins to well XBL ^^

[colinistheman]

The $$$ on the markets isn't long term funds it's day trading money... we've still got something like a 2 or 3 day lag for people who know what they are doing to get significant amounts of money into exchanges. The newbies this might draw in could be several days more than that figuring it out....

Good point.

The effects of this news could have a less-visible "trickle effect" where bitcoin newbies sign up at Coinbase or Circle (for example) and buy their first bitcoins.

[cyberpinoy]

Previously on the internet:
Price goes to 1K, people start selling.

Upcoming:
Bears try to buy back, but holders keep in light of the news. Price doubles in a few days.

When the next surge comes, its pace will surprise even the believers.

Please what facts are leading you into believing this, 1000 dollars Come on man you and I and all this community knows eep down where the truth is 1000 dollars is not a possible or practical. what facts tell me that, the hundreds of miners dumping coins every week, the merchants dumping coins every 2 weeks, the honest fact no true demand has ever been created for bitcoins and no real work is being done to create that demand.

So what is backing up your belief it will hit 1000 or more?

[bitcoinmining]

Everybody knows Microsoft and Bill Gates is a great pioneer. It's good to hear these news, not just for a pump, also for improving cryptocurrencies technical background Microsoft can help us.

[colinistheman]

Please what facts are leading you into believing this, 1000 dollars Come on man you and I and all this community knows deep down where the truth is 1000 dollars is not a possible or practical. what facts tell me that, the hundreds of miners dumping coins every week, the merchants dumping coins every 2 weeks, the honest fact no true demand has ever been created for bitcoins and no real work is being done to create that demand.

So what is backing up your belief it will hit 1000 or more?

Speak for yourself. Your opinion is definitely not the "community's opinion".

The price will go above $1000 in time, and in time I believe it will go above $10,000.

So if you don't agree with me, just know that your opinion is not mine.

The bitcoin market is very tiny right now, and if it takes even a fraction of global remittance market, the price will go up by orders of magnitude. Also, the next block halving occurs in less than 2 years, which means supply is shortened again. These are just two big reasons why the price will go up in my eyes. You may not agree, but that's totally fine. To each his own!

[Flashman]

1% of everything = moon, 10%= Kuiper belt, 20% = Alpha Centauri.

[countryfree]

This is nice, but frankly I was expecting more. Microsoft is very big news but that only caused a very sudden surge, which lasted less than one day. A bitcoin today is worth less than a week ago.

[Flashman]

See that volume candle at 5:30 though? We were headed into a huge plunge there, could have dipped to $250, which is what analysts were predicting the day or two before the MS news broke... if we were "only" in a sideways consolidation phase at the time, I think we might have seen it get into the mid 400s again.

[mercistheman]

Good step for bitcoin.
more companies accept BTC = more people will buy it.
but, whether does not rule out the possibility that more people who will sell it?

In order to offset the offloading of coins by these bigger companies that will sell it at the end of the day back to BitPay, there needs to be built-in discounts from paying w/ BTC to keep the demand coming from newer users to pay w/ it. From my perspective, why the hell would I want to pay w/ BTC and expose my wallet addy to any entity when there's no cost benefit for doing so? Furthermore, why would any person that is purchasing a PC think to themselves, "gee, let me try something different and pay with something I know nothing about?" However, if there was some sort of discount that would make a substantial amount of people want to learn about and pay for the product in BTC then you would have a more significant jump in price rather than just an initial 7-10$ short term bump.

Great observation... The incentive for companies to add BTC payment will need to be clearly expressed with a marketing plan.

[fenican]

Very disappointed - I just logged into the Microsoft Store, added an XBOX One to my shopping cart, went to check out and...

NO BITCOIN PAYMENT OPTION

Credit Card or Pay Pal only.

[Oscilson]

Very disappointed - I just logged into the Microsoft Store, added an XBOX One to my shopping cart, went to check out and...

NO BITCOIN PAYMENT OPTION

Credit Card or Pay Pal only.

Are you in US?

[picolo]

Very disappointed - I just logged into the Microsoft Store, added an XBOX One to my shopping cart, went to check out and...

NO BITCOIN PAYMENT OPTION

Credit Card or Pay Pal only.

Are you in US?

You have Bitcoin payment option in the US.