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Author Topic: Good for miners, bad for business.  (Read 2326 times)
scooter
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June 04, 2011, 01:13:24 AM
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For anyone mining or trading bitcoins. Waking up to see your coins increase in value 40% or 50% is a pretty good feeling.

But what about businesses who wake up to find out no one is buying their products because they are overpriced 40% or 50%?

Dealing with changing prices is a reality for any business, but if the changes are too rapid, it becomes problematic and in the case of bitcoin could slow adoption as a useful alternative currency.
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Sweft
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June 04, 2011, 01:18:16 AM
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If someone bough something yesterday, the merchant has more money today.
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June 04, 2011, 01:18:37 AM
 #3

For anyone mining or trading bitcoins. Waking up to see your coins increase in value 40% or 50% is a pretty good feeling.

But what about businesses who wake up to find out no one is buying their products because they are overpriced 40% or 50%?

Dealing with changing prices is a reality for any business, but if the changes are too rapid, it becomes problematic and in the case of bitcoin could slow adoption as a useful alternative currency.

All of the merchant shopping cart interfaces that I know of take the exchange rate into account in real time or near real time. Not really a big issue for the merchant.

15UFyv6kfWgq83Pp3yhXPr8rknv9m6581W
Anonymous
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June 04, 2011, 01:20:26 AM
 #4

If someone bough something yesterday, the merchant has more money today.
Hahaha, +1.
carbonpenguin
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June 04, 2011, 01:21:52 AM
 #5

For anyone mining or trading bitcoins. Waking up to see your coins increase in value 40% or 50% is a pretty good feeling.

But what about businesses who wake up to find out no one is buying their products because they are overpriced 40% or 50%?

Dealing with changing prices is a reality for any business, but if the changes are too rapid, it becomes problematic and in the case of bitcoin could slow adoption as a useful alternative currency.

All of the merchant shopping cart interfaces that I know of take the exchange rate into account in real time or near real time. Not really a big issue for the merchant.

Yup, this is the case for http://www.iusecoins.com - it automatically racks mt. gox...
scooter
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June 04, 2011, 01:22:13 AM
 #6

If someone bough something yesterday, the merchant has more money today.

But what is to say people will even want to buy something today if they think their money will be worth even more tomorrow?
People stop buying and just hold out for the value to keep going up.
Anonymous
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June 04, 2011, 01:23:42 AM
 #7

If someone bough something yesterday, the merchant has more money today.

But what is to say people will even want to buy something today if they think their money will be worth even more tomorrow?
People stop buying and just hold out for the value to keep going up.
This has been covered so many times.

Would you rather have a sandwich for lunch today or fast and have 2.5 sandwiches tomorrow?
rezin777
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June 04, 2011, 01:26:49 AM
 #8

If someone bough something yesterday, the merchant has more money today.

But what is to say people will even want to buy something today if they think their money will be worth even more tomorrow?
People stop buying and just hold out for the value to keep going up.

I can't eat, drive, fly, sail, surf, fish, hunt, camp, take shelter with, play music on, do computations with, fertilize my lawn with, sleep on, read, watch or make love to my Bitcoins.
Dude65535
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June 04, 2011, 01:27:46 AM
 #9

Having more money does you no good if you never spend it. People will spend rather than save for the same reasons people take out loans to buy things despite it being cheaper to wait and save up ahead of time.

They may spend less and more carefully but that is not necessarily a bad thing.

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Quantumplation
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June 04, 2011, 02:28:18 AM
 #10

I can't [...] make love to my Bitcoins.


Against my better judgement... 1ADjszXMSRuAUjyy3ShFRy54SyRVrNDgDc
Bazil
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June 04, 2011, 03:08:49 AM
 #11

I can't [...] make love to my Bitcoins.



Post it on youtube, I'd like to see this one

17Bo9a6YpXN2SbwY8mXLCD43Wup9ZE4rwm
Anonymous
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June 04, 2011, 03:12:06 AM
 #12

I can't [...] make love to my Bitcoins.



Post it on youtube, I'd like to see this one
>Make thousands of Bitcoin wallets.
>Print out private keys on material that can stimulate a proper orgasm.
>Build private keys into 'fuckable' apparatus.
>??­?­??­?
>PROFIT
Quantumplation
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June 04, 2011, 03:15:39 AM
 #13

>Make thousands of Bitcoin wallets.
>Print out private keys on material that can stimulate a proper orgasm.
>Build private keys into 'fuckable' apparatus.
>??­?­??­?
>PROFIT


Against my better judgement... 1ADjszXMSRuAUjyy3ShFRy54SyRVrNDgDc
airdata
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June 04, 2011, 03:50:14 AM
 #14

Or you could goto fleshlight.com and use the coupon code ' Rogan ' to get 15% off, and then use money derived from your bitcoins to buy a fleshlight.
Anonymous
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June 04, 2011, 03:51:54 AM
 #15

Or you could goto fleshlight.com and use the coupon code ' Rogan ' to get 15% off, and then use money derived from your bitcoins to buy a fleshlight.
Haha, you are now demonstrating how literal and concrete I am.

...but you -- you know how to think outside the box. I commend you.
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