Oh, but there *is* a reason: market manipulation by Bitfinex at al.
Fake products and parterships PR announcements, with lots of "experiments" underway that never release a working product that can reach any level of adoption (because they are invariably clumsy solutions to non-problems) has been the way that both shitcoin peddlers and service providers are luring more people in to buying their software and services for years now. This includes big IT companies like IBM, Accenture, Facebook, Amazon and now Microsoft (all companies with a shining record of being ethical and known for respecting their employees and customers first and foremost). Why these empty announcements should suddenly matter? How many times we have heard something like "Institutional investors stocking up!"? You guys are falling for this AGAIN? FOMO is a horrible thing.
Those companies's stock *may* rise a bit because of those announcements, since stock markets are largely emotional, but saying that anything has an impact on bitcoin "prices" on exchanges, sending them either up or down, means you lack fundamental awareness of just how crooked, criminal and shady the exchanges system is and what its purpose is (ie laundering large quantities of drug money).
Tether is just a more efficient way to manipulate the markets and you should keep an eye on how tethers move around in the current market if you really want to understand what's happening here... I mean, their CFO is a guy that used to sell pirated copies of Windows XP to small businesses in northern Italy and the CEO is a guy that got fired by Morgan Stanley because he was stupid and arrogant enough to tell the press just how sweet was the money he was getting out of them... Do they have to walk around with an actual eyepatch, maybe a hook or a wooden leg and a parrot on their shoulder screaming "twelve percent and a half! Sqwaaaak!" before you realize who they are? Or no, even if they do something like that you'll just find that funny and endearing. And keep trusting them with your money while putting your hand on your ears crying "lalalalalalala!" so you don't have to hear the sound of police sirens circling their plucky pirate ship, patched and repaired through the years using their own "customers" skins and bones...
This has nothing to do with blockchain's alleged ability to solve all of the World's problem.
Microsoft will sell shovels to morons. But no businesses are lining up for these “solutions” to problems that nobody has.
We’ve seen these “partnerships” over the years. They amount to nothing but PR fluff. Never any actual product anyone wants.
You should read the article. Or this release by Microsoft themselves.
> To tackle this challenge, we’ve been collaborating with members of the DIF, notably ConsenSys and Transmute, to develop a blockchain-agnostic protocol for creating scalable DID networks, called Sidetree.
You’re retarded, none of this requires Bitcoin.
And again, a “solution” in search of a problem.
Lol do you know what consensys is? Should I take it you are an Ethereum fan? If so - me too! In fact it’s my preferred blockchain :)
You need decentralization to make this happen. Yes it doesnt have to be bitcoin (which it’s only being built on thus far), but it requires a decentralized blockchain which requires what? You guessed it - cryptocurrency!
Of course they aren’t selling us bitcoin or Ethereum . Lol i never claimed they were becoming an exchange. That would be a weird thing for them to do!
This is a digital Identity product. And guess what? Each transaction requires bitcoin or eth which means Microsoft has bought a lot of it (they even mention they are covering transaction costs in the comments). It’s almost as if buying a lot of something that has a limited supply makes its value go up!
>So who is paying for the transactions on the Bitcoin blockchain, and how often? What are the expected annual costs in transactions?
>Also, I'd like to point out that you are using Bitcoin while Azure is using Ethereum. A bit inconsistent. 😉
>That said, are you planning on using other blockchains in the future?
>Hi Michael -
>Right now in our test we are covering those costs. We are still in early incubation phase, so we don't have a business model finalized yet. We are using Bitcoin as it's great opportunity to prove this new technology out - but our design is chain agnostic. You'll see support for other chains for sure in the future.
> This is a digital Identity product. And guess what? Each transaction requires bitcoin or eth which means Microsoft has bought a lot of it (they even mention they are covering transaction costs in the comments). It’s almost as if buying a lot of something that has a limited supply makes its value go up!
They said in the link you provided that they’re running on Bitcoin’s testnet, are you trying to be a goof? It’s like you’re so dazzled that you don’t ever read into the realistic potential of any of these stupid projects.
This is so odd. The article *you* linked even says:
>The customer simply holds up their app to pay. The store cashier will typically be unaware the customer is paying with crypto, while the merchant receives a real-time payment in the form of their choosing (crypto or dollars).
So in other words, it's exactly the same as that shit last year where "Starbucks was taking your bitcoins. MOON TIME!!!!!" (execpt they weren't).
It's literally the same as me coming to you in the parking lot, giving you some drugs for money, then spending the money on groceries, except it's through an app.
The stores (Amazon, Starbucks, etc) aren't holding, or even accepting, crypto. They're taking cash. The middleman is doing the conversion and holding the crypto.
"Fortune contacted 6 participants, including whole foods. None of them provided comment". I'm going to sell my house for Bitcoin on this news, just like Samsung's phone, baakt and all the other 100% adoption articles
Edit: looked up the app spedn and not a single Google hit, or app available. Do your own research before believing this bullshit
Lol it’s in app stores next week. Take your own advice and do your research before spouting off bullshit.
> Take your own advice and do your research before spouting off bullshit.
You “did the research” like Antivaxers do their “research”. Your eyes light up at what you can show people, but these aren’t real products that people want, and they’ll disappear from the market immediately like all the similar ones that have came and went.