Quote from: kurb3l on September 08, 2014, 09:19:07 PM

Quote from: Sandia on September 08, 2014, 09:04:13 PM

Forget the price for a moment. Daily and weekly price movements are noise. Everyone who cries about companies adopting btc because it puts pressure on the price needs to get a brain that thinks more than a week in advance.

The big picture is that the future of bitcoin is adoption and usage by more and more people. Dell, Global Payments, PayPal, etc, are all steps forward in usage. Remittance actually works in the Philippines, at a total cost of 2% (buying, transmitting, selling, dumping cash into bank account), and other countries will follow. None of these will have a huge short term impact on price. But they are necessary and huge successes in the long term, and should be priced in as major stepping stones forward.

The next step is store of value, taking on the tax haven money and gold bugs. These will have a much larger effect on price, but require more stability in price.

If you only care about the price in 6 months, hate on PayPal adoption. If you care about the price in 2 years, cheer for PayPal adoption. More usage, more adoption, demands a higher market cap in the future.

I'm not hating on the PayPal adoption, i actually think it is a huge step forward. The product that PayPal is selling is their easy-to-use payment system. You can buy things internationally with one click and don't have to exchange money. PayPal takes care of it all. The thing that brought me to bitcoin is the economic principle behind it and in my opinion people will be able to use bitcoin just as another payment option. So they won't have to care about the idea behind it. While this widens the possible usage, it puts bitcoin as the great idea it is in the background. That's the risk i see. But i will hodl

Bitcoin is first and foremost money. Store of value first, then currency and eventually unit of account.

All this "payment system" and transactional utilities are bells and whistles. Merchant adoption is important but it is not what drives bitcoin.

In my opinion there is only a minority of people that care to use Bitcoin for daily transactions. Most people "hoard" it as a store of value and to speculate. This is what has driven the price of Bitcoin from 0 to now. And if the phenomenon continues on its exponential pace like it has for the past years, then we will be fine.

This is also why these news have no impact on the price. They bring awareness sure, but they don't bring in new "investors". I don't expect they should. Frankly, apart from a couple of minor use cases, there are little to no incentives to use Bitcoin as a currency vs. fiat as it is right now. And that's not a problem.