More than 4400 BitPay Merchants Keep All Their Bitcoinshttps://www.cryptocoinsnews.com/more-than-4400-bitpay-merchants-keep-bitcoins/BitPay, the largest and oldest bitcoin payment processor with a daily volume of $1 million bitcoin transactions supporting more than 44,000 merchants, stated in an email exchange to CCN that more than 4,400 of their merchants keep all of their settlement in bitcoin, almost 18,000 keep some of their settlement in bitcoin while the remaining 22,000 convert it all to fiat.This is good news and takes the punch out of "Merchants dump bitcoin and so its price crashes" argument.
so roughly 10% of all the merchants they support keep their coins?
90% sell all or keep some?
Sounds about right got 10% that are holders a little less than 40% that do both and a bit more than 50% that just sell and convert to fiat.
I guess the bigger question is which ones by market size are the ones that hold sell and do both.
1) I think your math is wrong:
4,401+17,600=22,001
22,001>22,000
How do you figure more than 50% sell and convert to fiat?
I'm assuming 17,499 is definitely not "almost 18,000."
Are you assuming "almost 18,000" is definitely between 17,500 and 17,599?
Also, to be extremely literal (in spite of the imprecise numbers), out of "more than 44,000" the "remaining 22,000" is less than 50% by definition.
2) Are you a huge optimist, or are you trying to twist the news so that it sounds negative?
It is very surprising to me that just about (and most likely over) 50% of BitPay merchants keep at least some of their settlement in bitcoin. So that this "seems just about right to you" seems very ho-hum to me.
Quite frankly, I would have been very surprised to find out that 40% hold at least some.
