Dude, you're getting a Dell – with Bitcoin: IT giant slurps cryptocash Dell has started accepting Bitcoin as payment for stuff. The PC giant, which notches up about $60bn in annual sales, said on Friday it is testing a feature that lets customers pay for gear with cryptocurrency. "We’re piloting bitcoin, the world’s most widely used digital currency, as a purchase option on Dell.com for consumer …
At the fact companies are still trying to get in on the crypto currency nonsense considering the carnage and loss that has been wreaked by numerous attacks on the system / thefts / etc.
Any belief that they're doing it to help support a dynamic, secure new currency is sorely mistaken - they're doing it in the hope that they can make stupid profits from cashing in those coins when their value goes up.
I don't think Dell is holding on to the bitcoins and gambling on them going up or down. They are changing the Bitcoins to cash immediately. This is why Coinbase is involved. If they wanted to hold onto the bitcoins, they'd not need to involve a currency exchange. I'm not an expert, but this is how I read it.
Assuming people are stupid enough to keep pushing it up... But, This is hardly worse then what Governments do by continuously inflating their Fiat Currencies. Thus making everyone wonder why that $10.00(USD) worth of Groceries last week, now suddenly costs then $18.00(USD) this week... Such "Governments" should do the world a favor and just collapse already!
At the fact companies are still trying to get in on the USD nonsense considering the carnage and loss that has been wreaked by numerous attacks on the system / thefts / global banking fiasco.
Any belief that they're doing it to help support a dynamic, secure economy is sorely mistaken - they're doing it in the hope that they can make stupid profits from cashing in those USD before someone decides to mine a few trillion more quantitatively eased ones
"Any belief that they're doing it to help support a dynamic, secure new currency is sorely mistaken - they're doing it in the hope that they can make stupid profits from cashing in those coins when their value goes up."
Ah no, they're doing it in the hope of cutting back on the amount Visa/MC skims from the normal way of doing it.
Bitcoin: possible volatility and theft loss
Visa: 1.5% Guaranteed loss every time, +1.5% if a currency transaction occurs + theft losses all at sellers risk, not visa/bank
The current state of play is not loss free for Dell. I predict Dell plan to meet with their bank in a couple of months to discuss the Visa margins further....
If BitCoin machines reliably made money why would anyone sell them? WAKE UP! It is a classic bubble and basically a scheme to transfer money from the stupid to the unethical. Just because Nearly Human writers mention BitCoins doesn't mean they will exist in the future, or even the end of the year, it only shows they know nothing about BitCoins or money. You don't need an MA in Economics from Oxford and >25 years in IT to know this. It's a con, simples, run by criminals, at best only useful to criminals or random lucky people (lucky is good, but not reliable). Look up "Just stop it" by Bob Newhart, and I don't even charge the $5. (NB This is true of all the crypto-currencies, not just sh1tCoins). I've not gone anonymous as very happy to go on the public record on anything to do with this con job. This is NOT money, at best it is a risky speculative bet, and the sooner the media start letting people know odds on the value of 1m BitCoins will end as 2p the better.
Well with over 8 Billion USD of market cap and growing, it would appear a lot of people are buying into the con. Remember, the value of bitcoin is that it simplifies online payments with almost zero transaction costs. A box shifter like Dell (as well as many other online merchants) can only see advantages.
And when you think about it, if VISA charges 1.5 % (or more) per transaction to do essentially the same thing as bitcoin, ask yourself, who is pulling the real con here ?
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Eight billion dollars is certainly a lot of money, but as Allen Stanford and Bernard Madoff would tell you, the fact that people have $8 billion of "value" in something proves nothing.
The transaction costs aren't "almost zero". They cost nothing to the parties involved in the transaction, but they are verified by the mining network, which has very real energy costs.
The fees that financial institutions charge is a different discussion altogether.
Wow - I'm really sold by your desperate arguments to prove that Bitcoin is a con.
I wonder if your being paid to do so?
Thankfully I don't have an MA in Economics at Oxford - or I'd be pushing the same rubbish that has gotten the world into such a bad state.
I heard those silly weak arguments about it being run by criminals - so are you saying the ALL of the Open Source coders out there are criminals. As for only being good for criminals - are you ignoring the fact that money has been used for centuries in this way?
You obviously don't understand anything about Bitcoin - or you wouldn't be writing such bull excrement.
Come on people... He's obviously trolling.
First clue: The headline.
Second clue: 'BitCoin machines'. Yes, why would anyone sell shovels if you could use them to dig for gold!
Third clue: MA in Economics from Oxford and >25 years in IT. (I can tell from some of the pixels and from seeing quite a few shops in my time)
Fourth clue: 'simples'. Nobody says that.
Fifth clue: Bob Newhart: Really?
Sixth clue: Public record / Not anonymous. Kind of like the blockchain, right?
The final clue is his 'inability' to write coherent english sentences.
You mean like if picks and mattocks reliably mined gold, why would anyone sell them?
You can't use a pick to mine gold unless you find a gold deposit. All you need for a bitcoin mining box is an electricity supply and a network connection.
If I was making bitcoin mining machines, and I could make more money mining than selling them, do you think I'd be selling them?
"You can't use a pick to mine gold unless you find a gold deposit. All you need for a bitcoin mining box is an electricity supply and a network connection."
Sort of like how you can't mine bitcoins unless you find a blockchain? Sure, it's easier to find a blockchain these days than it was to find a gold vein when pickaxes were the tool of choice for gold miners, but the analogy stands.
It comes down to time vs return. With todays mass production techniques, it is far quicker to make money from the production of mining rigs, than it is to mine the bitcoins.
Same as how it was quicker to make pickaxes and sell them off, than it was to make one, and then go out and mine the gold yourself.
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