Google have been conspicuously quiet about Bitcoin for 6 years. What gives?

LMGTFY

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Quote from: Carlton Banks on September 25, 2015, 10:32:39 AM

If highly senior/influential individuals at Google said the above, it's all the more interesting the company is not directly involved, either in software development or investment.

Agreed. My guess is that - in the context of big finance recently declaring its love for blockchain tech - Google is playing a waiting game. If it looks like a blockchain tech is taking off, it'll get involved. If such techs fail, there's The Original And Best Blockchain to fall back on.

(I hadn't heard about buttercoin - brb, off to do some learning!)

Slark

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Google is admiring bitcoin, they said that many times. They know that cryptocurrencies are our inevitable future.
My theory: For now they are silently waiting for people to be more familiar with cryptos and for bitcoin or other alternate currencies to grow.
Later - they will either adapt bitcoin if it will grow substantially or create their own GoogleCoin - I bet they are working on it now. Maybe they already have it.

Carlton Banks

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Quote from: LMGTFY on September 25, 2015, 09:37:46 AM

Google as a corporation may have been fairly silent, but individual staff members have commented on it - including Google CEO Eric Schmidt:

Quote

“[Bitcoin] is a remarkable cryptographic achievement,” he said on a panel. “The ability to create something which is not duplicable in the digital world has enormous value.”

...

“The bitcoin architecture, literally the ability to have these ledgers which can’t be replicated, is an amazing advancement,” he continued. “Lot’s of people will build businesses on top of that.”

The article also quotes Jared Cohen (Google's "Director of Ideas"):

Quote

“[cryptocurrencies like bitcoin] are inevitable“.

If highly senior/influential individuals at Google said the above, it's all the more interesting the company is not directly involved, either in software development or investment. I think Google were purported to be investors in Buttercoin, which eventually dissolved for reasons I forget right now. Does anyone recall any other declared involvement of Google in Bitcoin?

LMGTFY

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Google as a corporation may have been fairly silent, but individual staff members have commented on it - including Google CEO Eric Schmidt:

Quote

“[Bitcoin] is a remarkable cryptographic achievement,” he said on a panel. “The ability to create something which is not duplicable in the digital world has enormous value.”

...

“The bitcoin architecture, literally the ability to have these ledgers which can’t be replicated, is an amazing advancement,” he continued. “Lot’s of people will build businesses on top of that.”

The article also quotes Jared Cohen (Google's "Director of Ideas"):

Quote

“[cryptocurrencies like bitcoin] are inevitable“.

SebastianJu

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Quote from: panju1 on September 21, 2015, 07:33:30 PM

Quote from: SebastianJu on September 21, 2015, 06:59:00 PM

Quote from: GODLIKE on August 21, 2015, 04:02:54 PM

Can you imagine what could mean for ANY cryptocurrency when Google would declare to be integrating one in its systems?
That would probably mean a 300% value boom in few days.

Unfortunately it would mean instant death for bitcoin. The 1MB blocksize limit only could handle a 100% raise in transactions. And something like this might easily bring more. And all the new users would learn that bitcoin is unreliable, slow and expensive while they sit for hours for their unconfirming transactions.

No, google should wait until we have 8mb blocks. Otherwise the damage could be huge.

If there is a need, I am sure that the developers will quickly agree to increasing the block size.
It has been done before.

Maybe, but it is still a risk. And a unneded one. It is clear that we need bigger blocks when we want more transactions, which translates to more adoption. Either one wants this or not.

panju1

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Quote from: SebastianJu on September 21, 2015, 06:59:00 PM

Quote from: GODLIKE on August 21, 2015, 04:02:54 PM

Can you imagine what could mean for ANY cryptocurrency when Google would declare to be integrating one in its systems?
That would probably mean a 300% value boom in few days.

Unfortunately it would mean instant death for bitcoin. The 1MB blocksize limit only could handle a 100% raise in transactions. And something like this might easily bring more. And all the new users would learn that bitcoin is unreliable, slow and expensive while they sit for hours for their unconfirming transactions.

No, google should wait until we have 8mb blocks. Otherwise the damage could be huge.

If there is a need, I am sure that the developers will quickly agree to increasing the block size.
It has been done before.

btvGainer

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Quote from: RGBKey on August 21, 2015, 10:59:32 AM

Maybe I am wrong, and I hope to god I am because google integrating bitcoin even somehow would mean a massive jump in adoption.

Bitcoin can not become currency of masses due to its scarcity.Why would Google or any other business corporation endorse something which is limited to 'certain class of' people (read miners)?
we need a different crypto for bitcoin is not for everyone

SebastianJu

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Quote from: GODLIKE on August 21, 2015, 04:02:54 PM

Can you imagine what could mean for ANY cryptocurrency when Google would declare to be integrating one in its systems?
That would probably mean a 300% value boom in few days.

Unfortunately it would mean instant death for bitcoin. The 1MB blocksize limit only could handle a 100% raise in transactions. And something like this might easily bring more. And all the new users would learn that bitcoin is unreliable, slow and expensive while they sit for hours for their unconfirming transactions.

No, google should wait until we have 8mb blocks. Otherwise the damage could be huge.

SebastianJu

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Quote from: Carlton Banks on August 21, 2015, 02:34:58 PM

Quote from: RGBKey on August 21, 2015, 02:07:34 PM

Think of ads you see on sites. If you're interested on something, are you more likely to click the ad, or to google it later? You're paying for people to see the ad, and give them thoughts.

How much would you pay to advertise your business that way? I would want it to be rock bottom cheap, because there's no definitive way of determining if you gained more custom that way.

There are ways of course. You can track, for example if a visitor coming from google ads is buying your product at the end. That's why you can live with the high priced ads and keywords. You optimize. Take the nonperformer out and leave the one that are cheap and converting. This way you turn your shop into profit.

It's some kind of arbitrage but for sure it is not easy since market decides on the price per click. And there are professionals in the game who checked keys out way earlier. It's hard to be successfull that way.

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Quote from: brg444 on August 21, 2015, 09:15:56 AM

Here tinfoil hat theory Wink

:

Mike Hearn has been Google's mole in Bitcoin since the beginning.

Not only are they very interested in it, they have plans to compromise it and eventually become one of the major node service provider after their agents manage to bloat the blockchain enough so that only them and a couple other major corporations can run it.

Enjoy your morning!

Damn... you got the exact same thought i had when i put my tinfoil hat on. But you know brother... the NSA is behind it... they force google to make hearn inplementing bad things like tor-block and tainting and so on... Oo

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Quote from: NeuroticFish on August 21, 2015, 08:46:11 AM

They may be quiet about Bitcoin, but they were not completely quiet about crypto.
I remember that for April 1st, 2014, when Dogecoin had very good times, they were "hiring" "Software Dogengineer".
If you are familiar with Dogecoin "way of writing" you'll find it in Google's announcement.

So my conclusion is that if they were so quiet indeed about Bitcoin.. it is rather strange.

Quote from: pedrog on August 21, 2015, 08:44:45 AM

I remember answering a survey by Google about bitcoin, it was something like "What do you want us to do with bitcoin?".

Ah, so they were not so quiet after all. Thanks!

This employment ad is hilarious. I think it really must be fun to work for google. I saw documentations about their working space and i can see why a job at google is so treasured.

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Quote from: pedrog on August 21, 2015, 08:44:45 AM

I remember answering a survey by Google about bitcoin, it was something like "What do you want us to do with bitcoin?".

Mike Hearn often talked about that, much enthusiasm in engineering team around bitcoin and they even had someone in compliance department studying it.

Also: https://www.reddit.com/r/Bitcoin/comments/1vvfxz/google_confirms_their_payments_team_is_working_to/

Didn't i read somewhere that hearn worked for google before he switched to his current company? I think he might be the one to ask about the plans google has with bitcoins.

Where is my tin foil hat... a there... fits perfectly...
Maybe he did not leave google at all and still gets paid by them and he pushes all the stupid things because google wants it to or even the nsa forces google to comply with their wishes...

Enough tinfoil now. Tongue

slaveforanunnak1

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Mike is working on their behalf.. not to worry

chek2fire

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they simple wait Gavin and hearn to break it

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Quote from: GODLIKE on August 21, 2015, 04:02:54 PM

Can you imagine what could mean for ANY cryptocurrency when Google would declare to be integrating one in its systems?
That would probably mean a 300% value boom in few days.

Bitcoin takes positive news in its stride these days. Gone are the days when positive news would make Bitcoin's price shoot up. Even when companies like Dell started accepting bitcoins, its price hardly moved. I expect Google will be no different.

balu2

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Google is probably in secret constructing their next gen crypto while they send in Mike Hearn to finish Bitcoin off so when googlecoin comes to market it'll have less competition. Just a wild guess connecting dots.

MoorChael

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Quote from: RGBKey on August 21, 2015, 01:31:54 PM

Quote from: countryfree on August 21, 2015, 12:25:55 PM

I guess Google doesn't like BTC because it doesn't control it. I'm pretty sure they're working on their own crypto solution. I'm expecting them to launch some kind of Apple pay or Samsung pay competitor. The huge risk to BTC is that they could make it as a native app in Android.

They already have Google Wallet, that's their solution. Have you really never heard of it?

I heard about it. It explains everything.

GODLIKE

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LOL what you looking at?

Can you imagine what could mean for ANY cryptocurrency when Google would declare to be integrating one in its systems?
That would probably mean a 300% value boom in few days.

kenbytes

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i`m verry positive for that ..i thinnk it only takes one step

Carlton Banks

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Quote from: RGBKey on August 21, 2015, 02:07:34 PM

Think of ads you see on sites. If you're interested on something, are you more likely to click the ad, or to google it later? You're paying for people to see the ad, and give them thoughts.

How much would you pay to advertise your business that way? I would want it to be rock bottom cheap, because there's no definitive way of determining if you gained more custom that way.

Topic: Google have been conspicuously quiet about Bitcoin for 6 years. What gives? (Read 1798 times)