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1  Economy / Economics / Re: In order to drive the price of Bitcoins up! on: March 10, 2014, 08:52:43 PM
Good luck trying to convince business to do this  Roll Eyes

I've seen this work when it's a community. For example, some small towns or areas have their own currency to keep the businesses all propped up and this is driven through the business board in the area.

bitcoin is a bit decentralized - i don't see this working on a larger scale. but maybe you can prove me wrong. I'd accept bitcoin for a 2% discount (cheaper than credit card processing fees).
2  Bitcoin / Bitcoin Discussion / I love the IDEA of bitcoin... in practice NOT SO MUCH on: March 10, 2014, 08:42:49 PM
I really like the idea of online currency but I wonder if the perceived value is only due to the technological geeks and the ideologists.

I have a hard time seeing my father or mother ever using digital currency. I don't see the mass public ever adapting to online currency. There is a considerable step in technological knowledge to get started and another leap forward in knowing how to protect your wallet. It's not as simple as keeping it on an exchange anymore.

Using it in lieu of credit cards, seems overwhelming. I can't make a simple purchase and go without the desired number of confirmations which could take 10 minutes to hours. I do not see patrons waiting nor retailers waiting for the confirmations. Lower fees do not make up for this.

After all the initial hype of technological savy individuals and idealogists jump on board... i see the buyers of bitcoin dry up and prices fall. The ONLY way I see the price of bitcoin rising is if we can get widespread use.

I first thought foreign countries could make up the bulk of the buyers but there would be very few individuals sellers of bitcoin who would be willing to purchase these high inflation currencies as an investment.

I don't see the vast majority of bitcoin buyers actually using it as a purchasing vehicle more as an investment through speculation. If no one really uses it to purchase then the price won't be sustainable.
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