How Big Is The Impact of Dell To Bitcoin?

dsly

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Quote from: Eastwind on March 02, 2015, 12:21:11 PM

Do you get discount if you pay with BTC to Dell? Otherwise, if you have to buy BTC to pay, then there is not much point.

Nope, you don't get any discounts for Dell. But it is more intended for people who already have bitcoin and wish to buy something from Dell with it.
They anyway dump the bitcoin they collect immediately.

Eastwind

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Do you get discount if you pay with BTC to Dell? Otherwise, if you have to buy BTC to pay, then there is not much point.

Bizmark13

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I posted about this in the other thread and I don't want to repeat myself here but basically there are two forces at work here. The first is the downwards pressure on BTC price caused by Dell (or rather the payment processor used by Dell - I heard that it's Coinbase) since they are selling bitcoins for fiat. Second is the upwards pressure caused by increased publicity for Bitcoin, mainstream awareness, and perhaps a softening of Bitcoin's image as it is used for legitimate purposes - certainly the huge number of businesses "accepting" BTC in 2014 did remove some of the stigma associated with Bitcoin and its association with drugs in the eyes of the public.

It may be that Dell accepting Bitcoin could negatively impact the BTC price or it might increase it somewhat (the former seems likely IMHO). Or it could be more complex than that - i.e. we might see a net downwards pressure in the short term but upwards pressure in the long term or vice versa. We'll never know because as others have already said, even if the BTC price tumbles or skyrockets, Dell isn't the only merchant that accepts BTC and there are so many other factors affecting the BTC price at play.

fiN.

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Quote from: ?? on ??

Quote from: erikalui on March 01, 2015, 11:31:24 AM

I don't feel it will have any affect on the price but with Dell, many other brands too will start accepting bitcoin which will make it a recognized payment method.

ACtually it does effect the price as they convert it all into fiat, which is basically a dump and causes price to go down.

This is twisted logic and I don't believe it to be correct. So are the miners and everybody else who sell their coins pushing the price down? No. What we need is more merchants so demand outweighs the supply and the price goes up, but saying merchant's who accept bitcoin but use a payment processor is bad is very wrong and counter productive to adoption in my opinion.

picolo

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Quote from: Gotti III on February 25, 2015, 09:26:16 AM

After Dell Embraces Bitcoin In UK and Canada, what will happen to bitcoin?

Given that its only available in UK and Canada.

How can Dell's acceptance of Bitcoin affect each of us bitcoiners?

The positive effect was not enough to overcome the trend down.

Lauda

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Terminated.

Not significant at all right now. The problem is that they instantly convert to fiat. So actually it affects the price in a negative way. I'm not sure about the overall effect that it has though.

Kprawn

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Quote from: koelen3 on February 27, 2015, 05:37:15 AM

Quote from: turvarya on February 27, 2015, 05:29:36 AM

I don't think, you can tell, what impact Dell had on the market after some time, since Dell isn't the only player here.

I am curious about, which part do you disagree with.

Ammmm ...what can i say , am not that good with words.
Let us see Dell accepting BTC as a bigger image , that will bring more people and more and more people will buy using BTC but just simply Why would they?
I mean it's as simple , an average person prefers thing he is familiar with , though people already familiar to BTC will use to buy products of Dell through BTC but people who have never heard of it might not .
When i buy something online , some sites show me many options as Moneypay ,OKpay and all , i just know they are some payment method but i am just familiar with Paypal and credit card and will prefer it over them .
Though , it's all about perspective, that's how i see it
~Regards
Koelen3

This is the thing.... Companies accept BTC as a payment method, but they do not incentivize the "use" with discounts.

If I was a merchant, and I find a payment method, that bring me say 15% lower fees {banking / transfer fees etc..} Why not invest some of that "savings" into funding of discounts, to get people to use it more.

You walk into a shop, it says.... Pay with Bitcoin, and get a 30% discount on certain products. {Basically the products with the highest markup} You take a small knock on the discounted goods, but in the next 6 months, you would make up for that, with the lower fee savings, from more people using the new cheaper payment method.

Or have a smaller discount, and install a Bitcoin ATM at your site, to make it more accessible for people to buy it and cash in on some of the profit from the ATM.

These merchants cash in on the savings from the lower fees, and are not willing to invest in the growing of the adoption. Sad

erikalui

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I don't feel it will have any affect on the price but with Dell, many other brands too will start accepting bitcoin which will make it a recognized payment method.

cyberpinoy

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Quote from: Gotti III on February 25, 2015, 09:26:16 AM

After Dell Embraces Bitcoin In UK and Canada, what will happen to bitcoin?

Given that its only available in UK and Canada.

How can Dell's acceptance of Bitcoin affect each of us bitcoiners?

It will effect us very big, in a hige way tis gonna kill the value even more than ti already has. Dell is a coin dumping merchant, and this does not benefit us in any way it hurts us:) maybe the Bitcoin community should stop worrying about coin dumping merchants and start making thier own Bitcoin only sites and services. do you thyink Visa or mastercard had to begt and plead for people to accept their transaction process, no and guess what those assholes charge you a fee to accept their credit card, how ass backwards is that? Thats right folks, as a merchant you pay 2% of your transactions back to visa just for accepting the card. Hmmm? whats wrong with this picture?

chaosknight

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they are directly not accepting bitcoins
they just dump the bitcoin for cash that buyer pay them, they are accepting fiat only and dumping bitcoins for it

koelen3

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Sooner or later, a man who wears two faces forgets

Quote from: pitham1 on February 27, 2015, 11:23:08 AM

Quote from: koelen3 on February 27, 2015, 05:37:15 AM

Quote from: turvarya on February 27, 2015, 05:29:36 AM

I don't think, you can tell, what impact Dell had on the market after some time, since Dell isn't the only player here.

I am curious about, which part do you disagree with.

Ammmm ...what can i say , am not that good with words.
Let us see Dell accepting BTC as a bigger image , that will bring more people and more and more people will buy using BTC but just simply Why would they?
I mean it's as simple , an average person prefers thing he is familiar with , though people already familiar to BTC will use to buy products of Dell through BTC but people who have never heard of it might not .
When i buy something online , some sites show me many options as Moneypay ,OKpay and all , i just know they are some payment method but i am just familiar with Paypal and credit card and will prefer it over them .
Though , it's all about perspective, that's how i see it
~Regards
Koelen3

With repeated mentions of Bitcoin as a purchase option, people might start getting comfortable around it.
They may not start using it immediately, but at least they will think about it.

It will be amazing if that happens

kpitti

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I mean that it`s good example that Bitcoin is accepted and it can help to make it more popular.

One side effect is that Dell is selling Bitcoins for fiat and it push price down.

I am curious what is main reason for someone to purchase from Dell using Bitcoin if it`s only for US and Canada. I see major benefit of using Bitcoin in international transactions and payments. For speed and low cost.

vennali

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#SWGT CERTIK Audited

Quote from: pitham1 on February 27, 2015, 11:23:08 AM

Quote from: koelen3 on February 27, 2015, 05:37:15 AM

Quote from: turvarya on February 27, 2015, 05:29:36 AM

I don't think, you can tell, what impact Dell had on the market after some time, since Dell isn't the only player here.

I am curious about, which part do you disagree with.

Ammmm ...what can i say , am not that good with words.
Let us see Dell accepting BTC as a bigger image , that will bring more people and more and more people will buy using BTC but just simply Why would they?
I mean it's as simple , an average person prefers thing he is familiar with , though people already familiar to BTC will use to buy products of Dell through BTC but people who have never heard of it might not .
When i buy something online , some sites show me many options as Moneypay ,OKpay and all , i just know they are some payment method but i am just familiar with Paypal and credit card and will prefer it over them .
Though , it's all about perspective, that's how i see it
~Regards
Koelen3

With repeated mentions of Bitcoin as a purchase option, people might start getting comfortable around it.
They may not start using it immediately, but at least they will think about it.

Yes it is more like promoting BTC..its a good step n hopefully more companies will follow.

pitham1

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Quote from: koelen3 on February 27, 2015, 05:37:15 AM

Quote from: turvarya on February 27, 2015, 05:29:36 AM

I don't think, you can tell, what impact Dell had on the market after some time, since Dell isn't the only player here.

I am curious about, which part do you disagree with.

Ammmm ...what can i say , am not that good with words.
Let us see Dell accepting BTC as a bigger image , that will bring more people and more and more people will buy using BTC but just simply Why would they?
I mean it's as simple , an average person prefers thing he is familiar with , though people already familiar to BTC will use to buy products of Dell through BTC but people who have never heard of it might not .
When i buy something online , some sites show me many options as Moneypay ,OKpay and all , i just know they are some payment method but i am just familiar with Paypal and credit card and will prefer it over them .
Though , it's all about perspective, that's how i see it
~Regards
Koelen3

With repeated mentions of Bitcoin as a purchase option, people might start getting comfortable around it.
They may not start using it immediately, but at least they will think about it.

Q7

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Quote from: Daniel91 on February 26, 2015, 09:01:11 AM

Quote from: Q7 on February 26, 2015, 07:19:22 AM

Quote from: Gotti III on February 25, 2015, 09:26:16 AM

After Dell Embraces Bitcoin In UK and Canada, what will happen to bitcoin?

Given that its only available in UK and Canada.

How can Dell's acceptance of Bitcoin affect each of us bitcoiners?

Probably not much for now. Else you should see the price going up. I think the effect would be more profound towards long term because if you have a company successfully integrating bitcoin to their payment system, you will see others which will follow suit and if that expands into every company accepting bitcoin, there will be quite a demand for it.

I agree with you.
One single company as Dell is not enough to change the negative trend right now, bit more such '' big'' companies over period of time can help bitcoin.
Many bitcoin users right now don't see ''big picture'' and reacting in fear, selling BTC in panic.
For such people, one ''positive'' news like this will not help much but more such positive news can help to change thinking of people, so that they recover their confidence in BTC.

I hope so. When every company with major brands starts accepting bitcoin as a form of payment for their product, the perception of the people will start to change. Not only it functions as a currency, medium of exchange but it will also be a stable form of investment. Right now, it's not there yet, No thanks to the recent hack which somehow got people to mostly lost confidence on how secure bitcoin is

koelen3

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Sooner or later, a man who wears two faces forgets

Quote from: turvarya on February 27, 2015, 05:29:36 AM

I don't think, you can tell, what impact Dell had on the market after some time, since Dell isn't the only player here.

I am curious about, which part do you disagree with.

Ammmm ...what can i say , am not that good with words.
Let us see Dell accepting BTC as a bigger image , that will bring more people and more and more people will buy using BTC but just simply Why would they?
I mean it's as simple , an average person prefers thing he is familiar with , though people already familiar to BTC will use to buy products of Dell through BTC but people who have never heard of it might not .
When i buy something online , some sites show me many options as Moneypay ,OKpay and all , i just know they are some payment method but i am just familiar with Paypal and credit card and will prefer it over them .
Though , it's all about perspective, that's how i see it
~Regards
Koelen3

turvarya

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Quote from: koelen3 on February 27, 2015, 05:22:58 AM

Quote from: turvarya on February 27, 2015, 04:52:18 AM

Quote from: koelen3 on February 27, 2015, 04:18:49 AM

Quote from: turvarya on February 26, 2015, 07:23:16 AM

You really don't get it, do you?
There a two pretty obvious good things about merchants like Dell accepting Bitcoin:
1. A lot of people still think, Bitcoin is drug money. Have you heard about the Silk Road trial? That is how a lot of people see the use of Bitcoin.
So, even when you tell them all the good things about it, they still don't see any use for it, because they don't want to do illegal stuff, so they don't even look into it. That changes when a big player like Dell accepts it, so people think: "Oh, you can also do legal stuff with this Bitcoin, maybe I can use it for something"

2. It makes the market more fluid. I haven't meet anyone, who said, he pays with Bitcoin, but doesn't buy back the amount he used. So, yes, that is the pressure on the buying side.

Your example is just plain stupid: Would Joe see, that the merchant accepts Mastercard and go through all the hassle to get one? Same thing. No, he won't just for that one purchase, but after seeing it a couple of times, he might consider going through that hassle.

Okay i get what you're saying but what would you say about the effect of dumping by Dell Huh

That is part of the market being fluid. Fluid means, that the price is more stable, since there is so much activity, that a single action wouldn't influence the market much.
In theory for every dump of Dell, there is someone refilling his coins. So, there is the same raise at supply and demand, which, in theory, means, that the price isn't affected.
I know, most people want the price to raise as quickly as possible, that is not going to happen, by the "using and refilling"-part, that happens by the "more people seeing BTC as a good/legal/usefull thing"-part.

I still can't agree with you , let's just wait and see what impact does Dell have on it's value

I don't think, you can tell, what impact Dell had on the market after some time, since Dell isn't the only player here.

I am curious about, which part do you disagree with.

koelen3

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Sooner or later, a man who wears two faces forgets

Quote from: turvarya on February 27, 2015, 04:52:18 AM

Quote from: koelen3 on February 27, 2015, 04:18:49 AM

Quote from: turvarya on February 26, 2015, 07:23:16 AM

You really don't get it, do you?
There a two pretty obvious good things about merchants like Dell accepting Bitcoin:
1. A lot of people still think, Bitcoin is drug money. Have you heard about the Silk Road trial? That is how a lot of people see the use of Bitcoin.
So, even when you tell them all the good things about it, they still don't see any use for it, because they don't want to do illegal stuff, so they don't even look into it. That changes when a big player like Dell accepts it, so people think: "Oh, you can also do legal stuff with this Bitcoin, maybe I can use it for something"

2. It makes the market more fluid. I haven't meet anyone, who said, he pays with Bitcoin, but doesn't buy back the amount he used. So, yes, that is the pressure on the buying side.

Your example is just plain stupid: Would Joe see, that the merchant accepts Mastercard and go through all the hassle to get one? Same thing. No, he won't just for that one purchase, but after seeing it a couple of times, he might consider going through that hassle.

Okay i get what you're saying but what would you say about the effect of dumping by Dell Huh

That is part of the market being fluid. Fluid means, that the price is more stable, since there is so much activity, that a single action wouldn't influence the market much.
In theory for every dump of Dell, there is someone refilling his coins. So, there is the same raise at supply and demand, which, in theory, means, that the price isn't affected.
I know, most people want the price to raise as quickly as possible, that is not going to happen, by the "using and refilling"-part, that happens by the "more people seeing BTC as a good/legal/usefull thing"-part.

I still can't agree with you , let's just wait and see what impact does Dell have on it's value

turvarya

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Quote from: koelen3 on February 27, 2015, 04:18:49 AM

Quote from: turvarya on February 26, 2015, 07:23:16 AM

You really don't get it, do you?
There a two pretty obvious good things about merchants like Dell accepting Bitcoin:
1. A lot of people still think, Bitcoin is drug money. Have you heard about the Silk Road trial? That is how a lot of people see the use of Bitcoin.
So, even when you tell them all the good things about it, they still don't see any use for it, because they don't want to do illegal stuff, so they don't even look into it. That changes when a big player like Dell accepts it, so people think: "Oh, you can also do legal stuff with this Bitcoin, maybe I can use it for something"

2. It makes the market more fluid. I haven't meet anyone, who said, he pays with Bitcoin, but doesn't buy back the amount he used. So, yes, that is the pressure on the buying side.

Your example is just plain stupid: Would Joe see, that the merchant accepts Mastercard and go through all the hassle to get one? Same thing. No, he won't just for that one purchase, but after seeing it a couple of times, he might consider going through that hassle.

Okay i get what you're saying but what would you say about the effect of dumping by Dell Huh

That is part of the market being fluid. Fluid means, that the price is more stable, since there is so much activity, that a single action wouldn't influence the market much.
In theory for every dump of Dell, there is someone refilling his coins. So, there is the same raise at supply and demand, which, in theory, means, that the price isn't affected.
I know, most people want the price to raise as quickly as possible, that is not going to happen, by the "using and refilling"-part, that happens by the "more people seeing BTC as a good/legal/usefull thing"-part.

koelen3

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Sooner or later, a man who wears two faces forgets

Quote from: turvarya on February 26, 2015, 07:23:16 AM

You really don't get it, do you?
There a two pretty obvious good things about merchants like Dell accepting Bitcoin:
1. A lot of people still think, Bitcoin is drug money. Have you heard about the Silk Road trial? That is how a lot of people see the use of Bitcoin.
So, even when you tell them all the good things about it, they still don't see any use for it, because they don't want to do illegal stuff, so they don't even look into it. That changes when a big player like Dell accepts it, so people think: "Oh, you can also do legal stuff with this Bitcoin, maybe I can use it for something"

2. It makes the market more fluid. I haven't meet anyone, who said, he pays with Bitcoin, but doesn't buy back the amount he used. So, yes, that is the pressure on the buying side.

Your example is just plain stupid: Would Joe see, that the merchant accepts Mastercard and go through all the hassle to get one? Same thing. No, he won't just for that one purchase, but after seeing it a couple of times, he might consider going through that hassle.

Okay i get what you're saying but what would you say about the effect of dumping by Dell Huh

Topic: How Big Is The Impact of Dell To Bitcoin? (Read 2971 times)