Topic: Wouldn't it be nice if... (Read 901 times)

Stock markets crash. Or some country announcing to accept Bitcoin as a nation wide currency. It must be a huge event that's for sure.

..we were older? Then we wouldn't have to wait so long.

I don't think it's asinine to think Amazon adopting bitcoin will drive the price up, at least for a few hours. I just don't think it will be a huge deal, and I think price will come down lower, eventually. In the past, we've had tigerdirect, overstock, newegg, microsoft, etc, adopting bitcoin as a form of payment; at the time of announcement, bitcoin price would zoom up, but then reality sets in, these companies are converting btc into fiat as soon as they receive bitcoins, meaning they are dumping btc and driving the price lower. In that sense, it's asinine to believe that the merchant adoption will drive the price to the moon. Tl;dr, merchant adoption alone will not drive the price to the moon.

too much people are waiting for a huge peak at this point. an investment to pay off takes time. i don't think much can make the price go up significantly at this point. i hope for a stable but steady year by year growth instead of a large peak.

As there is no incentive by itself to use bitcoins (for average consumers), and certainly not with such variable prices I think the only way bitcoin would be adopted is if the value of it would constantly slowly increase. that would be it's killer app. Unfortunately so far the necessary momentum to start such a process is still missing.

This.

The idea that "Amazon accepts Bitcoin therefore everyone should want to shop there using Bitcoin" is asinine.

No amount of retail adoption is going to "massively move the market". You people need to think outside the box for a second and forget about the delusional blatter that Bitcoin is somehow so much better for online commerce than credit cards. That is simply not true. Average joes are perfectly comfortable shopping using credit cards and there is barely any incentive that would entice them to change these spending habit.

This also means stop looking for the "killer app" that will somehow bring Bitcoin to the masses. It might be the case that eventually Bitcoin will be abstracted down to the public and create and actual use case for the retail/commercial segment but we are still a couple years away from this. As is stands Bitcoin is quite simply an absurd proposition from a consumer standpoint except for certain niche cases

The Bitcoin price is going to blow up because institutional investors will want to hold it as a commodity to hedge against the fiat market and as a speculative instrument. It's not gonna happen because some corporation decides they will integrate Bitcoin to their payment processing option and then sell them on the market straight for fiat.

I don't see it myself. There would still be zero incentive for your average shopper to make use of it.

If Amazon really thought it through properly they could offer modest discounts and it could open up markets for them that aren't presently plugged into the credit or debit card system but there doesn't seem to be much enthusiasm.

Just wait and see as I'm pretty sure it will massively move the market. Amazon is a big deal. The bull run may not last very long but it surely will generate a huge load of volume.

its easier paypal accept bitcoin before that

haha, I could see that as a sci-fi movie. People have to pay their "sustenance tax" to their oppressive government every 48 hours in order to stay alive. They can track the payments, so everyone has to make the payment themselves, you can't pay for your loved ones. Played by Matt Damon he strives to break the biological cryptolocker so he can make the payment for his fiance who broke her leg in a hovercar accident and cannot work to pay her sustenance tax.

Too easy to pirate surely. You want Apple bringing out the iphone 21 and suddenly demanding that they'll only take BTC for it. Total commercial suicide but a fun idea.

You would need something that would create a large demand for the currency for that to happen.
I had a family get together yesterday, I was talking to my older brother who's a comp-sci major and he programs for a living.
He's familiar with bitcoin but he's not on board with it. He seemed to know the basics about it (you know the stuff you hear on mainstream media).
Anyways he thought it's major flaw is that it is a niche product and too complicated for regular users to drive any mass adoption.

So we would need two things:
a) a large demand for normal people to want the currency
b) a dumbed down easy to use as facebook method for bitcoin

If we have those two things, then we could see that huge green candle you are looking for. It seems like we are really close to scenario B with coinbase and circle, but what about A? Maybe someone like Lady Gaga or other big pop-star having an exclusive bitcoin album? You can only get it if you pay with bitcoin sorta deal.

A biological cryptolocker that spreads through a variety of fast food and coffee outlets and kills you within 48 hours unless you cough up would do the job nicely. Then once you've paid up it's revealed that you've only bought yourself another 48 hours.

It's 2015. No one with a brain believes merchant acceptance is a Bitcoin market driver.

I think Amazon accepting Bitcoin will result in a massive peak. That's what a lot people are waiting for.

Possibly the Winklevoss ETF being announced could do something like that?

We woke up one morning over this next week to a giant green candle dwarfing the rest of the chart!

What sort of a Black swan headline could cause a huge jump?