Why we shouldnt worry if Amazon doesnt accept btc!

[counter]

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I think your both missing the point.  People say the issue with Bitcoin is they don't have much use for it other then speculating on the future price.  That issue is being addressed when they have the option to use Bitcoin for their everyday purchases.  Now if someone needs something and can use a Bitcoin that is one less reason to deny Bitcoin's value. ...

Yes, it does give Bitcoin more purpose and credibility, its one less reason to deny Bitcoin's use.  Not necessarily its value.  Here's the deeper economic point: its depleting its value, as you valued the purchased item more than you did the Bitcoin.  With normal currency this isn't an issue as the vendor values the currency.  However here they don't, and promptly offload immediately.  This is not a good thing long term, its a constant selling pressure on the currency.

This would assume that anyone who would buy something with bitcoin already had bitcoin and would not have otherwise spent/sold it. I would argue that most of the time this is not the case, I think that most people that spend bitcoin have semi recently purchased bitcoin with the intention of spending it.  

I find this notion that people are aquiring Bitcoins in the market to then spend at a normal retail establishment to be quite odd.  Its daft to purchase something only to use it to purchase something else, where that interim step is unnecessary.  I'm sure there some cases, some for the novelty or to see how it works, or edge case financial situations.  But it doesn't make much sense to risk the loses in exchange or the transaction costs to do so regularly.  I expect the vast majority of Bitcoin sales through regular retailers are from self-mined stockpiles.

I'm not sure your looking at this with an open mind.  People are likely going to want to try and use their Bitcoins and I think you're underestimating the amount of reasons they would have to do so.   The intuition of the merchants that accept Bitcoins shows the aren't dumb.  Once they use it and have a better understanding they'd likely realize the real value of Bitcoin goes far beyond the need to exchange it for fiat.  This is not going to happen exactly the same for everyone but that is to be expected with many new people adopting Bitcoin that they won't be the strongest of hands.

[runam0k]

I find this notion that people are aquiring Bitcoins in the market to then spend at a normal retail establishment to be quite odd.  Its daft to purchase something only to use it to purchase something else, where that interim step is unnecessary.  I'm sure there some cases, some for the novelty or to see how it works, or edge case financial situations.  But it doesn't make much sense to risk the loses in exchange or the transaction costs to do so regularly.  I expect the vast majority of Bitcoin sales through regular retailers are from self-mined stockpiles.

I take your point but a number of us want Bitcoin to succeed for reasons other than speculative gain.

On principle alone I'll shop at a business that accepts Bitcoin, even if it costs me a little more.  Amazon has lost a sale or two here of there because of my policy.  And I tend to buy back a little more than I spend each time.  I'm with counter on this one.

[OperationMortar]

Amazon has lost a sale or two here of there because of my policy.  And I tend to buy back a little more than I spend each time.  I'm with counter on this one.

That's take a point. Sounds that buy back system worth something lol

[itsAj]

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I think your both missing the point.  People say the issue with Bitcoin is they don't have much use for it other then speculating on the future price.  That issue is being addressed when they have the option to use Bitcoin for their everyday purchases.  Now if someone needs something and can use a Bitcoin that is one less reason to deny Bitcoin's value. ...

Yes, it does give Bitcoin more purpose and credibility, its one less reason to deny Bitcoin's use.  Not necessarily its value.  Here's the deeper economic point: its depleting its value, as you valued the purchased item more than you did the Bitcoin.  With normal currency this isn't an issue as the vendor values the currency.  However here they don't, and promptly offload immediately.  This is not a good thing long term, its a constant selling pressure on the currency.

This would assume that anyone who would buy something with bitcoin already had bitcoin and would not have otherwise spent/sold it. I would argue that most of the time this is not the case, I think that most people that spend bitcoin have semi recently purchased bitcoin with the intention of spending it.   

I find this notion that people are aquiring Bitcoins in the market to then spend at a normal retail establishment to be quite odd.  Its daft to purchase something only to use it to purchase something else, where that interim step is unnecessary.  I'm sure there some cases, some for the novelty or to see how it works, or edge case financial situations.  But it doesn't make much sense to risk the loses in exchange or the transaction costs to do so regularly.  I expect the vast majority of Bitcoin sales through regular retailers are from self-mined stockpiles.

There are many people who do not have access to traditional banking services who would not otherwise be able to buy things online.

What I think will become more common in the future, is the fact that people will buy bitcoin and spend it in order to take advantage of discounts for paying in bitcoin as merchants will have much lower costs with accepting bitcon payments verses accepting a credit card payment.