Bitcoin Forum

It seems like every day I'm seeing several companies starting to accept bitcoins. Is it just me or is this a considerable change?

For instance today on reddit I see: Namecheap, 33Mail, .. okay just 2 I see but still!

edit: franksdomains
edit2: cisthene.com

 - http://en.wikipedia.org/wiki/Snowball_effect

No. and what does it matter if they do? Saying I accept bitcoins is easy, now getting people to spend them with you is another story all together.
As these sites realize that no one is spending btc they will just do away with it or move to other alt. currencies.

Who says nobody is spending?

I do I know because everyone has had a death grip on their coins since the price spike. People use BTC for 2 things drugs and speculation.

In addition to speculation, I use mine for domains, poker, settling debts with friends, and electronics/pc-hardware. My wife and I are also planning on having lunch at a local place this week that accepts bitcoin. Plus, I just found out that my mechanic takes bitcoin (which was a total surprise, but obviously awesome).

Why wouldnt they?

I don't think BitPay or anyone else charges a monthly fee. Unless you're talking about screen real estate in your checkout process, there is no reason for a company to remove Bitcoin acceptance graphics and features. As the price rises, more BTC will be spent on the things people want or need and yeah that will only increase the snowball effect.

From where do you get this info? Is there a central collection of such newly accepting pages?

Yesterday I bought a "rare" copy of Final Fantasy 7 from a friend, and was going to buy some ecigerettes but the vendor's website wasn't functional. I think Sublime is projecting.

For more merchants to accept bitcoin, the userbase must increase. There's really two things that can happen from now:

1) More and more vendors accept bitcoin, causing more users, and this is where bitcoin takes off.
2) Vendors realize that they are getting few sales through bitcoin, and after a while remove bitcoin.

Right now, we're seeing more vendors accepting bitcoin. Namecheap is in the implementation stages, and there's quite a few sites to come.

If the value of Bitcoin goes up fewer will be spend. The Dollar value of the spend coins per month might increase but the number of Bitcoins circulated in commerce will go down!

On the other hand, a drop or levelling in price will increase spending.

Spending 1 BTC or 100 satoshi is irrelevant if they have the same buying power. For example, a GDP of 500 trillion doesn't mean anything if milk costs $50 a bottle.

You're right, it just seemed that post's in this thread did not differentiate between the value of the spent coins and the number of spent coins.

The best advertising a "proof" of Bitcoin's utility is increasing exchangerate. However, this also put breaks commercial adoptation. Imagine it was gold coins appreaciating as fast as Bitcoins and people would rather save them than use them.

So my thought is that adoptation and utility is cyclic opposite. There are periods of high exchangerate when people learn about Bitcoin and get some and there are periods where Bitcoin is cheaper and advances in use and markets happen and more people spend them.

"People are not spending coins" is such a stupid myth. Now that the price has risen quite a bit, they are actually more likely to spend them. That's how it goes with me at least. It feels like I'm spending less money since stuff costs less, and I actually have more purchasing power, and obviously there are more and more ways to spend coins which helps to counter the thought of "I'm better off buying with fiat anyway". That thought is starting to get more false every day.

Not spending because you'd rather hold money simply means that you don't need to spend. There is nothing you need to buy. If there is something you need to buy, then it's a different story. It doesn't matter which currency you use, even if you're afraid that spending BTC's will reduce your investments into it, you can simply buy that amount back with fiat at some point.

There's a huge market of digital goods which can *only* be sold using bitcoins, and I'm not talking about illegal stuff. It is pretty hard and expensive to get CC merchant account, and it is very unreliable and expensive to use paypal for business (firsthand experiences please before you comment), and it's not even available anywhere but few countries.

So there's about 5 billion people in the world who, if they want to sell digital goods online, have no easy solution to accept payments, maybe only some local digital money which have hard limits and huge percentages and are not available in other parts of the world. Will the companies accepting bitcoin continue to pour in? Heh.

There are also plenty of benefits in accepting bitcoins for physical goods. When I sell on eBay or Amazon, I'm looking at fees between 8% and 15%. Being able to sell for bitcoins would be huge in reducing that, which is why I'm really hoping for bitmit.net or a similar service to grow.

But the dollar value is an excellent proxy for the amount of goods and services purchased. That is what matters, not the number of actual BTC.

Short term, sure. Anything longer than a year or so and dollar value is a horrible yardstick.

hah, you're actually arguing with sublime? He's a troll with a hankering for alt cryptocurrencies... he just pulls this data out of his ass.  ;D

Calm down Piper. No one put forth any data points and no one is arguing. I am just saying that btc is not working as money right now. People are holding the BTC on price speculation, that will change.

Agreed.  Until the price stabilizes (not anytime soon, and if it does, it'll still take a while for people to come to terms with it), people won't want to spend their BTC, for they know if they hold onto it, it'll continue to make them wealthier.

In other words, super lame if you're trying to use it as money.

You're stating something as fact over which you cannot have complete knowledge... up there with "there is a god" or "unicorns are hoarding bitcoins".

BTC works as great money for me when it comes to buying things off Bitcoinstore, paying for some services and transferring funds to family overseas.

+1 this is obviously true.

unicorn farts and there being a god is more likely than btc being used what it was designed for. Namely being money!!! That is why I like LTC because people will use it and it will drive the price down and availability up of BTC. These digits aren't worth anything if they aren't money! BTC is not fucking gold!! it is nothing like gold in fact it isn't worth shit just 1's and 0's floating in the cloud. It is only valuable as money!

QED, snapsunny. Next time, do a name search first, saves you a lot quizzical frowns.  ;D

I was going to write a sensible response to this nonsense but found it had already been done so instead:

Wow, aren't we privileged on the boards to have such a clairvoyant in our midst.  Without sublime5447 we would only be able to make fairly inaccurate guesses/estimations about how much people are holding/spending and why.  To now know as fact that drugs and speculation are the only reasons people are using Bitcoin is invaluable and does indeed prove how useless Bitcoin is in comparison with altcoinx which is soooo superior because of all the improvements and essential features that are absent from Bitcoin.

Thank FSM for sublime5447.  How otherwise would I know the thing to do right now is to sell all my Bitcoin and buy and spend altcoinx instead?

I love how bitcoin attracts all the assholes and dicks. It is just a magnet for gold bugs, speculators, tech guys, thefts, and real dick faces. Someone has a different opinion, god forbid.  To all the haters suck it fags.  :)

...you forgot to mention the immature homophobic clique.

 :) I might be a dick but am not homophobic. Lots of gay friends and my sister is lesbian. I call her a dike and her male friends fags. It is done in fun I am not malicious toward gays. I like them if they have vagina's :)   

If you seriously think people are taking the mick out of you because you have a different opinion you really haven't read what you write have you?! - nor come to think of it, have you read the well reasoned responses people who should know better waste time in responding to you.

On the other hand if you are simply trolling then congratulations - if kidding people you mean what you say is a source of a sense of accomplishment for you then well done  ::)

It astounds me how ignorant people are. Glad to see North Carolina keeps pumpin out winners.



P.S.- If you're "attempting" to run a BTC business, you probably shouldn't post things like "I give up. This shit has not been worth it. I have opened so many fing account and transferred so many different funds all over the internet. I give up f!@# it. I barely make any money selling these things and it has become to much of a pain in the ass to get so I am not going to do it any more. This market is bullshit. If they get easier to get in the future I will may start back up, but as for now I quit. F!@# BITCOIN!." on your facebook page.


IJS

lmao

but bitcoins are sooooo easy to get....

Few things about sublime - he has no business, and no money, he wants to get rich quick (check out LTC subforums for more of his persona), he's pissed that BTC price does not go the way he wants. Seen lots of people like that around here. He'll turn into a solid BTC proponent if bitcoin falls to single digits and he'll have money and most importantly guts to buy at least 100. Which is a rare occasion, but I've seen it happen. So it's easier to ignore him alltogether.

Think I've seen enough thanks.
Cheers for the tip.  Advice taken.  sublime5447 on Ignore :)

Thanks for this message - I've placed him on my ignore list (nifty function!), which should save me some time from reading his flawed posts.

The most important thing that I've learned from this thread is that I should put sublime5447 on my ignore list.

Thanx guys!

Given that there is tracking of its shrinking length, I don't see anything better. Gold retains its value only when counted over centuries. Ditto for silver. Both are currently bouncing commodities, and even over centuries vary by wars, trade imbalances and mining discoveries.

I grant you they drift back, but it can take lifetimes, as when Spain looted the new world.

I think we will start seeing more brick & mortar stores using Bitcoins. There hasn't been a lot of those opened. Big opportunity there, especially in services where anonymity is a concern...

Part of the reason why people react strongly to you is because you make all kinds of statements with an air of " There !  I have proclaimed it, now it is the truth ! ".
There are however strong indicators that people don't just hold on to their money:   https://blockchain.info/charts/n-transactions?showDataPoints=false&timespan=all&show_header=true&daysAverageString=7&scale=0&address=  (https://blockchain.info/charts/n-transactions?showDataPoints=false&timespan=all&show_header=true&daysAverageString=7&scale=0&address=)

First ignore me please none of you dicks have coins to sell any ways. Second I do have 2 business and do have money. I have 2 cars 1 truck 2 boats one yacht, own my own fully stocked shop, have about 60k in tools and equipment, and about 20k in inventory right now, made about 60k last year working 20 hr a week or less, have a sexy wife and handsome son another child on the way. My life is great! Third I am not trying to get rich quick. I am not in digital currencies to get rich. I am in it for social change. I sell the coins! i could make a lot more money holding, but I want to spread the idea not hoard it like a fucking troll. so if you dont like me go fuck yourself. I like me and that is what matters.   

^  :D
That post.
lmfao dude. MY OWN YACHT WHATUP

That hardly screamed insecurity at all...

Yes I own a 92 carver santa crus 26 ft. To be fair it is the smallest yacht you can buy.  :)

Snap-On or Matco?

cornwell. nothing is financed everything I have is mine ;)