[2015-01-03]CA- ESPN Immediately Exchanges Bitpay's Bitcoin Bowl Payment To Fiat

[jdebunt]

http://www.cryptoarticles.com/crypto-news/espn-immediately-exchanges-bitpays-bitcoin-st-petersburg-bowl-payment-to-fiat

The Bitcoin St. Petersburg Bowl was a great event in the short history of Bitcoin so far. Not only was this event the most watched programme that evening on cable television in the US, but it provided BitPay with an excellent platform to increase global awareness about Bitcoin and cryptocurrency. Unfortunately, none of the participants in the Bitcoin St. Petersburg bowl were sold on the benefits of Bitcoin, and most certainly not ESPN.

[CoinMode]

Thanks a lot, guys! We REALLY need more headlines like this popping up across the crypto world. You are doing a great job in letting everybody know the worthlessness of bitcoin. Bravo!

You took a piece of information that is to be assumed (the majority bitcoin processed through Bitpay is converted to fiat) and you made it into a headline that would have no other impact than to drive the price down. Thank you so much for bringing us information that we already know.

We'll love you forever for this. Bright futures are ahead for you!

[LOBSTER]

Thanks a lot, guys! We REALLY need more headlines like this popping up across the crypto world. You are doing a great job in letting everybody know the worthlessness of bitcoin. Bravo!

You took a piece of information that is to be assumed (the majority bitcoin processed through Bitpay is converted to fiat) and you made it into a headline that would have no other impact than to drive the price down. Thank you so much for bringing us information that we already know.

We'll love you forever for this. Bright futures are ahead for you!

I hope it so far Bright futures in the Bitcoin world are really important. We need more start-ups in the crypto world!

[jdebunt]

Thanks a lot, guys! We REALLY need more headlines like this popping up across the crypto world. You are doing a great job in letting everybody know the worthlessness of bitcoin. Bravo!

You took a piece of information that is to be assumed (the majority bitcoin processed through Bitpay is converted to fiat) and you made it into a headline that would have no other impact than to drive the price down. Thank you so much for bringing us information that we already know.

We'll love you forever for this. Bright futures are ahead for you!

I don't like the Bitcoin price going down either, but we also need to point out the current flaws in these partnerships and work together on solutions to make sure ESPN keeps at least a part of the Bitcoin sum next year.

[Nagle]

"ESPN made the smart move there. Since the Bitcoin St. Petersburg bowl ended, the Bitcoin price has fallen by nearly 10%."

Good move by ESPN. They're not suckers.

[Sergios]

Mr nagle,
 You are correct sir, but if the BTC price went up ESPN would curse themselves into oblivion     Hindsight is good and all but at that point in time ESPN or anybody else for that matter was thinking about "bitcoin might drop 10% in a couple of weeks". The main reason is that ESPN doesn't trust Bitcoin  so they sold it all in 1 go. Clearly Bitcoin has a lot of work to do on it's image and on the education department     ( that is for the community to do).

[odolvlobo]

This article is just a rehash of the NY Post article. Why didn't you just post the NY Post article? It would have been much easier, and it would have given you more time to devote to real journalism.

Instead of simply rewriting the NY Post article, you could have applied your brain and written an original piece about how it overlooks a very important point: ESPN was able to convert to dollars immediately. Ask any merchant how long it takes them to get their money from the credit card companies.

[Sergios]

Mr odolvlobo: 95% of the news you see on tv is rehash. ALL news is being shared between news organisations ( look at the the similarities of the news ). Take a chill pill dude, its not the get all exited about. Re-writes happen every day 10000's of times in the real world and in the digital world ( with the necessary writing mistakes, spelling errors and typos).

[brekyrself]

This is exactly why a blockchain such as BitShares and its market pegged assets such as BitUSD will prevail in the merchant space.  No merchant wants to hold on to such a volatile asset especially when they can not spend it up stream.

[CoinMode]

This is exactly why a blockchain such as BitShares and its market pegged assets such as BitUSD will prevail in the merchant space.  No merchant wants to hold on to such a volatile asset especially when they can not spend it up stream.

That works until said asset becomes more volatile and inflationary than bitcoin, and it doesn't take into account the fact that the bitcoin blockchain can be used to do the exact same thing as bitshares.

[brekyrself]

This is exactly why a blockchain such as BitShares and its market pegged assets such as BitUSD will prevail in the merchant space.  No merchant wants to hold on to such a volatile asset especially when they can not spend it up stream.

That works until said asset becomes more volatile and inflationary than bitcoin, and it doesn't take into account the fact that the bitcoin blockchain can be used to do the exact same thing as bitshares.

How can this be done with BTC?  From my reading, BTS can be volatile and is ever so slightly inflationary to pay delegates however each BitUSD for example is backed by 3x BTS as collateral.  How can this market functionality be added to BTC, especially with PoW 10 min confirmations?