Hi all,
Just last month I went to a site which was selling some tickets and they accepted both bitcoins and fiat currency . In this case, of course I choose to pay via fiat currency because I didnt want to spend my bitcoins. Within a week, bitcoin value went up by 15% !!
My point is , due to deflation, why would people spend bitcoin instead of fiat currency to buy regular items like electronics, shoes, groceries etc. I see lots of these sites coming up, but I am not sure what is the volume of business these sites are doing. Of course bitcoin is the currency of choice to buy stuff like drugs and in a decentralized fashion. Would it still make sense for businesses like Amazon (that anyway ask you to enter personal details) to accept bitcoins, seeing that fact the so much hoarding is going on.
I want to know what is general thoughts of the community on this.
From my experience as a merchant that accepts bitcoin your right. When the price is rising rapidly barely anyone is purchasing items from me with BTC. When the price is crashing I get a flood of orders.