Topic: "Dell is now the world's largest ecommerce business to accept #bitcoin" (Read 5808 times)

Paypal can accept bitcoin as a mode of funding your paypal acc/ or withdrawing your paypal funds to btc and in between they will suck up a huge amount of fee, I just came to know that payza[a paypal competitor although not as big as paypal] has let its users to withdraw their funds to btc so they might learn from that. 

same, and don't forget about google/facebook/youtube, it's only about time, they will be sucked in to bitcoin for sure

There was news in which Ebay CEO said about integrating digital currencies with Paypal but no concrete step has been taken as of now.

But there were some talks about Paypal accepting BTC. You can goggle it out. At high level, just no exact date.

I think retailers like Dell and Dish and Newegg (Dell is obviously bigger) accepting BTC is already sort of priced in. This sort of thing is already expected IMO. And we're a long ways off from giants like Amazon accepting it, I think, since Bitpay, etc wouldn't be able to handle the volume.

That would be great if another big guys would start to accept BTC, there should be a jump in the price already, i guess that this is the calm period of the year, that is why BTC price is not moving alot.

Google could accept bitcoins for ad-sense, for example. I think there are others services directly for customers.


And I can't find the bitcoin option from my local store, I guess only Dell-USA accepts Bitcoin.

it would be good to move on towards B2B. that way, when dell or any other retailer sells anything, it doesn't need to use coinbase or any 3rd party after making a sale; instead it can just send the bitcoins directly to google, and if googles chooses, they can cash it out.

Both Google and Intel really do not sell anything directly to consumers. Most of what they sell are things that are B2B transactions. I think this kind of bitcoin related commerce is a long ways away (at least a year), however when this type of commerce does start to happen the demand for bicoin will likely increase a lot and so will the price.

More than bigger merchants getting in  I would like that buyers start adopting it over other mode of payments. Don't know if intel's adoption will create in boom in short term , but surely if Google gets in that's gonna be huge

I would prefer google & intel to start accept bitcoin

The price needed a correction and some stability before going up higher because there are still a lot of BTC that arrive on markets from miners; inflation, economical instability, qualities of Bitcoin and mining reward halves will push the price to thousands of dollars in 2015 or 2016


They could accept it in 2015 but Amazon, Paypal ect. will probably accept it before

soon other will follow.

I am interested about what do you think : when Apple will accept BTC in their Apple's Stores ?

Perhaps never ... but seems like not easy to predict.

Some people try to fish for the bottom. And good news might trigger a price increase. That's also what day-traders try to do. They use every minor news and market movement to justify their trades. And since they all do the same TA, they buy at the same time and thus create a rising price. It's a risky business, though.

Only the dumbest og the dumb buy on good news. Most of the crowd buys in the collective bullish euphoria.

These are the doldrums. Same thing happened last year.

The good news was relentless, but the price didn't move. And then it did.

This can be the calm before the tempest, I think with all those positive news the price is about to rally soon.
If you take a look at gbianchi charts you can see we are really low considering the average btc increasing value during those years.

I wonder that too, how can Dell and Newegg accept bitcoin, and the price does not budge?

What the hell?

Have they released any numbers, like how Overstock did?

Well some big guy back at eBay said that he actually bought some BTC and confirmed that eBay has to integrate cryptocurrencies into PayPal at some point. The market did a small run that day. They're well aware of bitcoin and observing it, I guess. Better join it or be left behind. (If they can't destroy it )

Paypal accepting Bitcoin? That would be ironic. I imagine it being more accepted on there, as in the terms, but not a wallet.

It seems it's the current standard: also buying from Overstock with BTC is limited to US only.

The hope is that they would sell worldwide at a later time.

What about Ebay and Paypal?

Still waiting for Amazon to join in.

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.

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

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

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

Bitcoin is active in dell.com checked today

This might be available only in the US

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.

no more moon for good news

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.

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!

Yes, a 70% drop isn't capitulation 

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.

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

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.

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....)

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..

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

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"?

 

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

I dont think he was joking, unfortunately.

And why do you think they had wait until dell accepts it to buy hardware? Lol, they spent what they wanted to spend long ago

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

I think that the following graph is pretty self-explanatory about the impact of this news:



Graph taken from http://www.coindesk.com/computer-giant-dell-now-accepts-bitcoin/

Never heard of them. By the name I would guess that these guys are doing door-to-door encyclopedia selling. "Ex" suggests that the encyclopedias are second-hand
Yes, I live far away from civilization.

TigerDirect or Newegg either? You must not mine! 

But yeah, most of the companies I had never heard of or never dealt with personally.

Haha exactly

Hopefully many more known companies will come, we are still growing strong

Overstock already holds 10% of their bitcoin sales in bitcoin.

You've never heard of Expedia?  What country do you live in?

At last. It's the first company I actually heard of before they started taking bitcoins.   

My guess is that if they are willing to give big % discounts to customers who use BTC, they would be just as likely to encourage use to corporate customers as well.

Of course the significant discounts could just be a way to try and get current BTC enthusiasts to buy along with the announcement... we will see.  Exciting times regardless!

This is what I'm most interested in...  Next time Overstock needs to upgrade servers.. are they going to go to Dell, and can they use BTC to pay?   If this is a Yes & Yes, we will finally start seeing companies holding on to BTC instead of insta-converting immediately at time of sale.

Sigg

Great news and Well done Dell hope this also applies to Dell Uk if so sons getting a new XPS for Uni.

Interesting to  see if this payment method will be adopted for Dells corporate users, could just be the nudge some business need for adopting Bitcoin  payments.

Very impressive web traffic
http://www.similarweb.com/website/dell.com

Yup, I think they understand the dishoard-spending theory, wherein most bitcoin purchases are made when the price rises,* simply because people start to feel like they have too many bitcoins and not enough traditional assets. Instead of selling some coins on exchange, wiring to bank, paying with credit card, then paying off the credit card with a check, they can just use the coins directly. It saves on fees, counterparty risk, time, and hassle.

Now since they know people are spending bitcoins primarily because their Bitcoin holdings just got to be "big money" from the holder's perspective, of course relatively luxury items are going to be on the table. Smart discount strategy.

*Deflation causes spending, completely in the face of all Keynesian wisdom. P.S., this also invalidates the concerns that "spending bitcoins with merchants will depress the price" - nope, they were going to be sold on exchange anyway.

Should be fun to see more large companies starting to accept BTC. Probably a good time to buy right now, cause price could start jumping up soon!

Well, notice after Huobi hit the .5 retrace, the news hit and for the last 2 hours rebounded quite strongly. Might have something to do with it. Or maybe just coincidence.

Man, it must be embarrassing being a tech company and having Dell beating you to the punch. How many are scrambling right now?

The news is barely out an hour or two.

Give it time to disseminate. Then give it time to sink in. It is pretty big.

And why the day after the Bitlicence announcement? It's not by coincidence. More news coming shortly unless I'm mistaken.

Wow, didn't realize what the people on TV chat were talking about... figured it was a stock thing. This is kind of awesome. Though I despise Dell.

Guess the key word there is simple...

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. 

I can't wait till coinbase blows up.

Could be priced in to an extent... I'm sure some big players knew this deal with Coinbase was going to happen beforehand.

Why is this in speculation section .? because I can see official press release so Dell made it official so it belong to Bitcoin Discussion.
 Great News , we can see it happening Overstock, Expedia, Dell and many more, If Ebay and Amazon joins in thats gonna blast the market.  

Keep Calm , Just Adoption isn't making any difference in recent times .. just keep calm once they react  all of it gonna count.

Alienware ASIC miners, anyone?   

IMO there's a chance for an explosion in volatility again. Traders attract more traders like a virus.

I've been thinking about getting a new tablet.  Wasn't even considering Dell, but now I may very well just buy it with bitcoin from them.

Haha! They probably figure that if there's one market segment that can actually afford Alienware computers, it would be (Bitcoin) early adopters.

Amazing.  Just to clarify, it looks as though the 10% discount is only good for the purchase of an Alienware complete system.  They aren't giving a 10% discount for all bitcoin purchases.  But this is definitely major.

Not only are they accepting Bitcoin. They're promoting it. And offering a Bitcoin discount from Day 1!

Its really good news and as major companies are accepting BTC , its good for the Bitcoin acceptance and overall Bitcoin economy.

There's just no volume. People are out enjoying summer.

We saw good news for months now but price barely changed. I think it become positive news tolerant and won't move much.

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.

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

SWEET!

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.

Yep! http://en.community.dell.com/dell-blogs/direct2dell/b/direct2dell/archive/2014/07/18/we-re-now-accepting-bitcoin-on-dell-com.aspx

Is this real?