Bitcoin Forum

More and more company accepting bitcoin as mean of payment.
But why bitcoin still down, anyone can give me some reasonable explaination?

Perhaps because everyone who accepts btc is doing it as a middle man payment and dump directly to fiat.

Lets say you buy a couch from overstock. Overstock takes btc but instantly dumps btc to get usd. So merchants are a double edge sword if all they want BTC for is the news coverage.

I think the price has already "factored in" that many new entities are using Bitcoin more and more.  Agree with prior poster and everyone getting it and then dumping it into fiat as well.  I think BTC will need some more positive news, like new regulatory discussions, or some really big entity to accept it to cause the price to increase.  Just because it's used more does not mean the price will go up.  In fact I think at some point BTC is better off if the price stays the same with less volatility.

I agree, as a currency, BTC is better stable. As an investment instrument for day traders, they want volatility. But imagine if the USD had 100% swings. Today a bigmac cost $3 tomorrow it cost $6 and the next day it cost $1, its hard to do anything during those times and the economy would come to a grinding halt.

Good analysis. Problem is price will never stable the way mining work.

The reasonable explanation is it's simply down to supply and demand. Big news can effect it, but not always. The price will probably rise or spike sooner or later, but we just need to keep getting merchants and people willing to spend their coins.

Do you want a reasonable explanation, or a non-reasonable one?  Because this sub forum only hands out non-reasonable explanations.  Try reddit/r/BitcoinMarkets or TraderView for the factual reasons.

 ;D

Yes. After all the price isn't exactly determined by the number of companies accepting bitcoin, but determined by the simple rules of supply and demand, exactly. We'll need to see some more growth and more merchants adopting bitcoin for the price to realize it. But if more and more big companies accept BTC, more fill follow suit. A good thing.

The problem is those company sell their bitcoin immediately after they receive it.

It would be wonderful if there was a way through coinbase  or bitpay to incentivise holding a small percentage of btc these companies are now accepting. Maybe a lower fee structure depending on what percentage is held? Or free marketing/advertisements? Something like that would be great for everyone.

When ebay takes bitcoin then my friends we going moons

Once again, that sort of news is good in spreading the word about bitcoin and slowly increasing trend, but the price wont be majorly affected even then.
What merchants do is use payment processor to recieve btc and instantly sell it on market price.

In terms of price it means nothing much, just one step up, and one step down.

True, but it means insane mainstream exposition, everyone and his mother uses ebay, they will see this "pay with bitcoin button", this will lead to learn about bitcoin and the great benefits, they will also learn about how the supply is irremediably shrinking and will only increase in price, this leads to new coins being bought and not being dumped at market price constantly. This at a worldwide scale means price goes higher.

This is when the game will change.  If Paypal starts transacting in Bitcoin, then they will also begin acting as an exchange.  People could change their balance from USD to BTC, or vice versa, with the click of a button.  If a merchant wants payment ONLY in BTC, then someone with a Paypal account could pay them from their paypal account (regardless of denomination of their current balance), and it wouldn't look any different than "Paid Merchant $20.00" to them, even though the merchant actually received Bitcoin.

As much hate as Paypal gets around here, they are the ones in a position to actually become a huge player in the Bitcoin payment gateway.

Sign of bubble if good news didn't lift the price one bit.

yeah large companies see a crash coming thats why they're investing millions into bitcoin infrastructure, getting it regulated, building the acceptance base exponentially bigger. its cuz they know its really doomed to fail. they're just joking when every single one of them says they believe in bitcoin. yeah that makes any sense at all  ::)

god failing you are dumb as a rock.