As a small time merchant who also accepts BTC as payment, I've never sold any coin that has been transacted for goods/services (the number of transactions has not been great, so can absorb that), though it appears that most people feel that it is converted to FIAT immediately.
Perhaps that is because of the long down trend we've seen, but if it starts to trend upwards then perhaps some of those merchants will start to speculate a little with what they can afford to hold if they can without needing it for cashflow purposes. If that happens then that could put a fire under the price and it accelerates away causing another bubble. I imagine that there would also be a counter to that where people only spend in BTC what they have to which would stifle that growth to a degree, but people might be more comfortable spending gains as needed, and I can still envisage a scenario of decent growth being possible, possibly a runaway success even.
I'm incredibly optimistic about the success of bitcoin, but to put a price on it could be orders of magnitude out of actual behaviour.
The credit card transactions have a fee, and we have to wait 28 days for payment, and then it's only 90% of total transaction value (that includes things like shipping that must be paid weekly and we end up paying for the privilege of being the banker to the transaction processors), and the remaining 10% we have to wait 6 months for. Would we discount for BTC? Sure we would, but if it were popular we'd probably start having to convert at least some of it to FIAT, at least in the short term.
Thanks for your post, can I ask you what are you selling (means: have you a bar, pub or a 'market'...)?
I honestly don't think bitcoin will ever go high as it did. I could be wrong but it just doesn't seem likely.
it will eventually, but not as fast as some people are hoping. it requires a lot patience. i think within 5 years it might happen. long term looks good. short term not so much.
It'll happen sooner than that, something big is gonna happen w/i a few years max. This bear market is wearing thin and there's too many interested parties w/ money looking from the outside in. The value of the US dollar isn't going to remain this strong on into the future.
Sooner or later, doesn't make sense.... I think when the block reward will be less than the total miner fee (of 1 block) the price of 1 bitcoin will be more than 500 dollars. But also the mining farmers are important in the determination of the price.
Let's break 250$ first...
this is the best post in the entire thread. stop talking about $1000 while it is not going over $300 and probably won't go over $300 this whole year.
agree, with this price stuck in 230 240 245 under 300$ i think its not going so far from that rate, from last 2 years until now, the price is down and little up for a while, i think its to much hope that 1 btc for 1000 $
Yes the price is going down from a lot of months, if we consider the start "1200 dollars".
