Google may introduce bitcoin on new payment system

https://www.cryptocoinsnews.com/google-may-introduce-bitcoin-new-payment-system/

This is huge if it goes through, BTC already up $20.

 

Yeah the price will sky rocket if this occurs, interesting haha

 

Great news. Hopefully the increase continues.

 

Yay BTC rising.

 

#BITCOINS , GLad that google incorporated with this

 

Looks like its time to dump my money in bitcoins

 

Watch them announce they aren't doing it anymore and it drop right back down haha

 

Obviously possible, but it would be a pretty good addition to Google's payment system to match Apple pay. I'm sure Google would love this addition. Just imagine Apple decided to add it as well, Bitcoins would blow through the roof.

Bitcoin already up $30 since the announcement, and just over $10 since this post was made.

 

BTC over $250 right now, damn.

 

Unless google plans on holding onto bitcoins, or spend them on things such as wages, or other goods and services, they will probably just sell them instantly. A big company would probably regard bitcoins as too volatile to hold, and so the act of them instantly converting them into fiat currency might potentially drive the price of bitcoins down in the long run. Once this news passes, I would expect the price of bitcoins go move back down again, and then up if/when Google and Square actually implement the system (then down again).

Although this is fantastic news for bitcoin as a whole, I can't imagine it would change its value substantially since a major problem is people instantly converting their bitcoins into fiat currency. Bitcoin still needs more time.

 

Exactly what I came here to say. I think the short run benefits will be there, but in a few months, I doubt we'll see lasting effects of this unless, like you said, something changes.

 

I agree, it will change change Bitcoin's value positively but nothing huge. When a giant like this starts accepting bitcoins it further encourages users to hold onto bitcoin as there is now another option. Depending on how popular it gets, this could also take out quite a bit of bitcoins out of circulations until Google decides to dump them every so often. In the end Google has the cards and Bitcoin's prices will heavily depend on what they do with it and how.

 

Exactly, you're completely understanding the situation

 

Finally Google doing moves

 

I hope the recent bad news for bitcoins doesn't put Google off and make them reconsider this. I'd be cautious, though, if I were in their shoes.

 

Assuming they'd immediately convert their bitcoins into fiat, and adjust the cost of their goods to the BTC/USD ratio to live figures, any short term volatility as a result of poor news shouldn't really affect their decision making, since they would be getting the same quantity of fiat currency anyway.

The only problem I'd imagine is whether they can safely set up such a system, so how safe their system is from hackings. Otherwise, I don't think there are too many cost-factors affecting there potential implementation.

 

another nail in the coffin for GAYPAL

 

If this actually gets implemented, I see BTC prices touching around $1000 by end of 2015 like it's previous max.

 

kinda curious to see how they manage this with a currency that will fluctuate almost on a daily basis.

 

btc prices should temporarily skyrocket if this actually happens