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Bitcoin The Almighty Buck

Expedia To Accept Bitcoin 87

Posted by timothy
from the only-stability-is-volatility dept.
An anonymous reader writes With the debacle of Mt. GoX, Bitcoin's future was looking a little murky. But in a significant mainline acceptance, Expedia has said they will begin accepting Bitcoins as a form of payment. At first, they will accept it for hotel bookings only, will accept it only in USA, and also will not be holding Bitcoins for any length of time — converting it to dollars as soon as they can. But, quoting Emily Spaven, managing editor of Bitcoin news site CoinDesk, as told to the BBC, the move was "brilliant news" and it "brings digital currency further into the consciousness of the mainstream." So you can't quite fly to Galt's Gulch to your newly Bitcoiin-purchased real estate without switching currencies.
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Expedia To Accept Bitcoin

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  • I've seen a reasonable number of announcements regarding accepting Bitcoins, but am still looking for a good case where it accounts for a significant proportion of someone's business. People either seem never to report the numbers, or only those with relatively poor Bitcoin numbers report them.

    • People either seem never to report the numbers, or only those with relatively poor Bitcoin numbers report them.

      Perhaps they are reporting the numbers, but most of the numbers are "poor"?

      The "carrot" has always been "we can use this as currency for purchasing goods!" but the reality has always been that Bitcoin is in reality a speculative commodity that is rarely used in commerce.

      • by Trepidity (597)

        That's my suspicion, yes. The few numbers I've seen reported more or less boil down to "we implemented Bitcoin [purchasing | donations] and got like, $27.95 total from that route over six months". If there are stories of companies implementing a Bitcoin payment route and doing significant volume through it, I haven't been able to find them. Well, at least if you're looking at companies selling legal things.

    • by perpenso (1613749)

      I've seen a reasonable number of announcements regarding accepting Bitcoins, but am still looking for a good case where it accounts for a significant proportion of someone's business. People either seem never to report the numbers, or only those with relatively poor Bitcoin numbers report them.

      To be honest most of the large merchants/service providers announcing that they accept Bitcoins never actually see a bitcoin. They contract merchant services where a bitcoin exchange acts as an intermediary that converts the price to bitcoins, accepts bitcoins and then pays the merchant in the currency the original price was stated in. And they pay the exact amount originally stated regardless of any bitcoin fluctuations.

      All accepting bitcoins means for most of these merchants is that they work with a di

      • by Trepidity (597)

        That's true, but they can still collect stats on payment methods, which is pretty routine. What I'm curious about is whether switching to a payment processor that accepts Bitcoin results in anyone actually buying things with Bitcoin. Is it more like adding support for EUR, or more like adding support for the Kazakhstani tenge?

    • "am still looking for a good case where it accounts for a significant proportion of someone's business"

      Silk Road? :>

  • They have no intrinsic value, similar to tulip bulbs back in the day. Gold has intrinsic value. Currency has intrinsic value in that it's tied to the GDP and ability of its issuer to pay bonds. It's true monetary policy can grow or shrink a money supply, but see above. When a bitcoin is generated, it was generated from not virtually nothing, but literally nothing.

    • by Anonymous Coward

      fail..... NOTHING has 'intrinsic' value. Many things have a set of attributes (that goes for gold too). People tend to place 'value' on certain attributes... and disagree with other people about what attribute(s) have 'value'.
      As for 'generated from nothing' .. where do you think Federal Reserve Notes (aka USD) get generated from? Oh... thats right, out of nothing... at the whim of some shadowy central bank types... who are totally unaccountable for their actions.

      • Gold has some intrinsic value: You can do useful things with it. It's very useful in electronics for a start - it doesn't have the best conductivity, but gold contacts never corrode. A very desireable property.

        The intrinsic value is a lot less than the actual financial cost though, because it is desired primarily as a status symbol. People want it because it is rare and expensive, so it serves as a way to flaunt wealth.

        • by Richy_T (111409)

          That's not intrinsic. If you don't want to do those things, it has no value for them. All value is subjective.

          Gold's utility value is way below its current market valuation though.

    • by tlhIngan (30335)

      They have no intrinsic value, similar to tulip bulbs back in the day. Gold has intrinsic value.

      A lot of things don't have intrinsic value. A collection of bits on my hard drive is just that, a collection of bits. However, some people feel it has value, they charge 99 cents if it represents a song, say. Or a book, or something else. The representation has no value since my hard drive will always have bits even if it isn't those bits. What those bits mean, though has value to some people.

      Tulip bulbs has intr

  • With the debacle of Mt. GoX, Bitcoin's future was looking a little murky

    Not to anyone who actually follows Bitcoin. MtGox was old news in 2013, a year before it actually failed. Bit coin's success was never based on MtGox - it was the other way around. And the failure of a fraudulent company in the Bitcoin space made Bitcoin stronger, not weaker.

    Tired of hearing this illogical assertion repeated.

    • by jdavidb (449077)

      Bitcoin stories shouldn't mention MtGox any more than dollar stories should mention Enron.

  • The TSA does a whole lot of pre-flight data mining on passenger lists. I recall some discussion a while back about how they included included things like the credit card numbers, billing addresses etc in the mix.

    Paying with Bitcoin has the same problem as paying with straight-up cash - it sets of all sorts of red flags because there's no real way to see if you're "connected" to other "interesting" people or not. No data = guilty until proven innocent etc.

    When you're on the clock for getting to your depart

  • I don't know why, but I have a felling that Bitcoin is nothing more than a piramid scheme...

I'd rather just believe that it's done by little elves running around.

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