5 votes

Forbes: Google Lets Slip That It's Exploring Possible Bitcoin Integration Plans

Since Overstock.com OSTK +1.52% began accepting Bitcoin payments earlier this month, the cryptocurrency community has been buzzing with speculation about which tech company will integrate Bitcoin next. So Jarar Malik decided to ask.

“After the whole Overstock thing, I said ‘f–k it,’” says Malik, a Bitcoin early adopter, online marketing manager and musician with a following in Pakistan. “‘Let me email the head guys at a bunch of tech companies and see what they say.’”

He started with Jeff Bezos and Tim Cook, asking if Apple AAPL +0.46% or Amazon had any plans for the cryptocurrency. No response. Then he tried the Google GOOG +0.13% triumvirate Larry Page, Sergey Brin and Eric Schmidt. When they also ignored him, he moved down a rung to Google’s Senior Vice President Vic Gundotra. And to his surprise, Gundotra wrote him back, forwarding Malik’s query to another Google staffer and starting a series of email exchanges that eventually led to one Googler telling Malik that the company is indeed pondering how it can make use of the world’s first form of decentralized digital cash.

“We are working in the payments team to figure out how to incorporate bitcoin into our plans,” wrote Google Senior VP of Ads and Commerce Sridhar Ramaswamy at one point in the email exchange that Malik forwarded to me.
http://www.forbes.com/sites/andygreenberg/2014/01/22/google-...

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Google employees...

One of the core bitcoin developers, Mike Hearn, is a Google employee. He's the guy who said "F%@k the NSA". And he's the Chair of the Law and Policy group of the Bitcoin Foundation. I've read that Google allows him to work on bitcoin on his 20% time. And another major contributor, Pieter Wuille, is a Google employee.

Of all the criticism of Google, they still do a lot of great things.

Check out http://ronpaulforums.com for activism and news.

Naughty America Joins Porn.com in Bitcoin Acceptance

Bitcoin will go ‘industry-wide’

The announcement provides further evidence that Porn.com’s decision to embrace alternative currency has marked a turning point in the adult entertainment industry. Hronopoulos is particularly bullish about bitcoin’s potential to impact the adult entertainment market, as well as how quickly the industry will adopt bitcoin payments en masse.

“I think it will become an industry-wide thing within 45 to 60 days … Naughty America really sets the bar for where the industry heads.”

Of course, this migration could depend on whether Naughty America is able to replicate Porn.com’s initial earnings. Porn.com’s sales increased by 50% in the immediate aftermath of its bitcoin payment services going live, before settling to a 25% uptick over previous levels.
http://www.coindesk.com/naughty-america-bitcoin-acceptance/

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
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These companies are using

These companies are using Coinbase or Bitpay to process Bitcoin transactions. It's a great thing they're doing but isn't there some distinction between accepting and holding bitcoins and just using a processor?

Check out http://ronpaulforums.com for activism and news.

i agree

they save 1-2% by accepting btc over credit cards. there's no excuse for them not to accept btc through bitpay etc.
some do choose to keep a % of the btc with bitpay. i think they can choose whatever % ratio they want to keep in btc vs instantly cash out to usd.

it's actually cheaper to by a gift card from gyft.com because you get 3% back for using btc. no need for amazon to take them directly when you can get a better deal though gyft.com.

today i got this...
Get 10% Points back on Zappos.com gift card purchases. Two days only*.
www.gyft.com/points

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
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Get Ahead Of The Crowd... Opportunity

Get Ahead Of The Crowd...

http://idealchoices.info

http://youtu.be/hrnND0iTfjo (Knowledge is Freedom)
http://idealchoices.info Understanding Bitcoin

if these companies announce

if these companies announce they will accept bitcoin, the price will shoot through the roof. Now might be a very good time to buy.

To climb the mountain, you must believe you can.

TigerDirect.com now accepting Bitcoin!!

We launch in approximately 10 mins; 12PM EST!

www.TigerDirect.com/bitcoin/

https://twitter.com/TigerDirect

Feel free to re-tweet and spread the good word on the latest Bitcoin milestone!

http://www.reddit.com/r/Bitcoin/comments/1vyazz/tigerdirectc...

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
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Do it, Google!

Don't be scurred!

EBay considering accepting bitcoin as payment

Ebay is now considering allowing customers to use bitcoin for payment for both eBay and PayPal, sources inside the company told CNBC.

The company hasn't yet made a decision, and is waiting for the regulatory framework to become clearer before it makes a final call, the sources told CNBC. Next month, eBay US and eBay UK will allow its customers to buy and sell bitcoins for the first time.

The company's interest in the digital currency is documented. PayPal's CEO David Marcus recently tweeted: "We treat BTC and any FX the same way. We're believers in BTC though."
http://www.cnbc.com/id/101356642

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So Cool

http://cdn0.dailydot.com/uploaded/images/original/2014/1/7/its-happening-ron-paul-gif.gif

bitcoins biggest endorsement yet.... kinda

Jamie Dimon, of JP Morgan, shows his wealth of knowledge (lack thereof) regarding bitcoin

Would JPM's Dimon ever accept bitcoin?

the question is do we even participate in people who facilitate bitcoin. it's a terrible store of value. it could be replicated over and over. it doesn't have the standing of a government and honestly, a lot of it what i've read from you guys a lot of it is being used for elicit purposes.
http://video.cnbc.com/gallery/?video=3000238715

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
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Michael Nystrom's picture

Makes sense

Google wants to have its bases covered.

Google is also a big VC player. VC is about investments, and investing (so goes the common wisdom) is all about diversification. Boston is a big VC hub, second behind the Silicon Valley / Bay Area. You can see movements of capital, if you pay attention. Watch the business press, etc, mingle and listen to buzz. That is the whole point of mingling. It is like hanging out on the DP, but only in person.

No one knows what the future holds, so you have to cover bases.

Flash of insight: Honestly, I wouldn't be surprised to see Microsoft come out with its own crypto currency. Because all Microsoft does is copy. It has never innovated a single thing.

  • It bought DOS.
  • It copied Windows from Mac
  • It copied Word from WordPerfect
  • It copied Excel from Lotus123
  • It copied Powerpoint from... Who? Where did Microsoft rip off to become Powerpoint?
  • It copied Internet Explorer from Netscape

    Then it started to hit the skids, because IE sucked.
    IE sucked, which opened the door to, after Netscape was killed, Firefox, and then Chrome, and just out of the Windows universe, into MacWorld. Like me.

  • It copied X-Box from Playstation. Sony is putting up a fight.
  • It tried to copy "Zune" from iPod. Miserable failure.
  • Microsoft missed the smart phone boat. Balmer scoffed at it. Completely missed that boat, and as a result, also missed the tablet boom. (Which means a lot of their hardware partners in Asia got screwed.) Now Microsoft looks like a Johnny-Come-Lately with their Surface tablets.

Fuck it, they'll say. Bitcoin is popular LETS COPY BITCOIN!

Why not. It is a hail mary. Manning to Welker for the win!

Microsoft has nothing to lose, because it has no idea where it is going as a company. It has lost its mission. (Believe me, I know what an organization looks like after it has lost its mission! lol)

So. Take a risk. Hail Mary.

Keep an eye on this sector. This is a very interesting sector to be watching.

Oh, and I forgot. Finally, at the end of the whole cycle, Microsoft buys the cell phone company of yesteryear: Nokia. Like a football team picking up some tired old, useless player at the end of the season.

I was talking to the guy at Sprint the other day. "I mean, we carry Microsoft phones. But nobody buys them," the guy said.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.
Michael Nystrom's picture

So the crypto currencies are the next bubble

They'll act as an escape hatch for all the excess money.

All this excess money we're swimming in needs to be siphoned off. It has to go somewhere.

Boston is home to the $17 hamburger, the most expensive hamburger, perhaps that I have ever met.

Organic eggs are over $6 per dozen here. It is insane.

Get a crypto currency bubble. Shove all the money in there, then crash it. It isn't regulated. It'll be just like any other hyper mania. Stocks in the 90's, Housing in the 00's. This is what the Fed is sweating bullets over:

WE NEED A BIGGER BUBBLE! WE NEED A BIGGER BUBBLE.

These crypto currencies could be it.

Not to say that they're not useful or foundational. They are. Just the like the railroads of the late 19th Century and early 20th Century. They were for real, but there was a huge bubble that grew up around them.

Just remember, we are riding a bubble. The most important thing about riding a bubble is timing the exit.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.

Michael, I just have one thing to say to you...

Zune was totally a superior product to the iPod any day of the week. It may have failed but I have got a black 120 gig that I have been using for almost 4 years and k couldn't be happier.

:P

Séamusín

Michael Nystrom's picture

Ok. Thanks for that information

I never used a Zune. I don't think I've even ever seen one.

But my primary point is that all Microsoft does is copy. They don't innovate. Even the Kinnect is a copy of Nintendo's Wii - they just got rid of the controller. I'll give them a couple of points for originality there.

They're late to every party, and then they start throwing money around like the giant that they are. Windows and Office have kept them in the game forever - those cash cows.

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.
Michael Nystrom's picture

Google continues its relentless march

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?s...

Microsoft does look like it has broken out of some long dormancy:
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?s...

To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.