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Major companies accepting bitcoin have gotten a fair bit of free press even if they haven't converted to sales in bitcoin. So they aren't doing it to get bitco

Major companies accepting bitcoin have gotten a fair bit of free press even if they haven't converted to sales in bitcoin. So they aren't doing it to get bitcoin users they are doing it so that they get free publicity from the news media and bitcoin users going around talking about them all the time. For example I've heard about Overstock more in the past year than I have in the past decade and they are constantly in the news. Despite the fact that bitcoin sales figures are low and have been in decline since day one for them.

baddox 12y ago
> So they aren't doing it to get bitcoin users they are doing it so that they get free publicity from the news media and bitcoin users going around talking about them all the time. That's almost certainly part of the story. But the only reason they get free publicity that they believe will benefit them is that some people are genuinely fans of Bitcoin, enough so that the negative effects of potential customers who hate Bitcoin will be outweighed by the positive effects of potential customers who love Bitcoin.
- sanswork 12y ago
  Any publicity that isn't negative will benefit them even if it is a neutral story for most people it still gets their name in front of the news watching public. >enough so that the negative effects of potential customers who hate Bitcoin will be outweighed by the positive effects of potential customers who love Bitcoin. I don't think people who hate bitcoin will avoid a store because they accept it. I mean I'm pretty vocally outspoken about bitcoin in that I don't think it offers anything for consumers and I don't think it will ultimately succeed but its not like I'm going to avoid Newegg from now on. :) So ultimately by accepting bitcoin even if you don't get a single bitcoin customer you probably get spoken about in the news a bit which will maybe add more general customers. Thats more of a belief in free publicity then bitcoin though.
  - baddox 12y ago
    I still don't understand the argument. They're implementing a new payment method because they believe that doing so will lead to more business.
    - sanswork 12y ago
      The argument isn't if it will get them more business it's if anyone will use bitcoin. They will get business from the advertising not the payment method.
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baddox 12y ago

> So they aren't doing it to get bitcoin users they are doing it so that they get free publicity from the news media and bitcoin users going around talking about them all the time. That's almost certainly part of the story. But the only reason they get free publicity that they believe will benefit them is that some people are genuinely fans of Bitcoin, enough so that the negative effects of potential customers who hate Bitcoin will be outweighed by the positive effects of potential customers who love Bitcoin.

sanswork 12y ago
Any publicity that isn't negative will benefit them even if it is a neutral story for most people it still gets their name in front of the news watching public. >enough so that the negative effects of potential customers who hate Bitcoin will be outweighed by the positive effects of potential customers who love Bitcoin. I don't think people who hate bitcoin will avoid a store because they accept it. I mean I'm pretty vocally outspoken about bitcoin in that I don't think it offers anything for consumers and I don't think it will ultimately succeed but its not like I'm going to avoid Newegg from now on. :) So ultimately by accepting bitcoin even if you don't get a single bitcoin customer you probably get spoken about in the news a bit which will maybe add more general customers. Thats more of a belief in free publicity then bitcoin though.
- baddox 12y ago
  I still don't understand the argument. They're implementing a new payment method because they believe that doing so will lead to more business.
  - sanswork 12y ago
    The argument isn't if it will get them more business it's if anyone will use bitcoin. They will get business from the advertising not the payment method.

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