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Title: Will people shop more with Bitcoin while Price goes down - and is this good? Post by: Itcher on July 22, 2013, 03:49:25 PM I am optimistic. Option 4.
Title: Re: Will people shop more with Bitcoin while Price goes down - and is this good? Post by: Birdy on July 22, 2013, 03:51:12 PM I've read some responses from merchants that people buy more when the Bitcoin price is rising.
Title: Re: Will people shop more with Bitcoin while Price goes down - and is this good? Post by: grue on July 22, 2013, 03:54:15 PM I've read some responses from merchants that people buy more when the Bitcoin price is rising. Shouldn't people buy less when the price is rising? Why pay 1 BTC for an item when you can pay 0.5 BTC next week? That is, assuming the price will rise.Title: Re: Will people shop more with Bitcoin while Price goes down - and is this good? Post by: Birdy on July 22, 2013, 03:58:25 PM I've read some responses from merchants that people buy more when the Bitcoin price is rising. Shouldn't people buy less when the price is rising? Why pay 1 BTC for an item when you can pay 0.5 BTC next week? That is, assuming the price will rise.This is just one way to view it, you could also see "Hey I'm getting this xy so much cheaper than last week". I know some random merchant response is hardly evidence, but at least it's a hint that the rule "people will buy less" may be false. Title: Re: Will people shop more with Bitcoin while Price goes down - and is this good? Post by: Technomage on July 22, 2013, 04:53:12 PM Spending less in a downtrend makes much more sense to me and it's backed by merchant announcements also. If Bitcoin feels undervalued to me, I'm more inclined to hold as much as I possibly can. When I feel it might be overvalued, I'm more inclined to spend them. That's how it is for me anyway, I don't know about everyone else.
And to clarify, at below $100, I feel it's undervalued. Regardless of how little or how much below it is. Title: Re: Will people shop more with Bitcoin while Price goes down - and is this good? Post by: Spaceman_Spiff on July 22, 2013, 05:40:12 PM Spending less in a downtrend makes much more sense to me and it's backed by merchant announcements also. If Bitcoin feels undervalued to me, I'm more inclined to hold as much as I possibly can. When I feel it might be overvalued, I'm more inclined to spend them. That's how it is for me anyway, I don't know about everyone else. My line of thinking too. |