BitChick
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Activity: 1148
Merit: 1001
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January 23, 2014, 05:55:11 PM |
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None of these companies are going to accept bitcoins directly. Payment through a payment processor is not bullish. It indirectly causes selling pressure on exchanges.
The reasons we didn't see much selling pressure after Overstock is because so few are actually buying things with bitcoin. Overstock did 500k sales total since Jan 9. 125k was on the first day... That is a huge dropoff. Bitcoin = failcurrency.
Don't you think you've heard this point quite a few times already but that it doesn't actually add up? If people pay with Bitcoin then that means they will buy Bitcoin to begin with. And for all those who decide to buy some Bitcoin, perhaps spurred on by the fact that they learn they can spend it at Overstock, Ebay and many other places, how many do you think will buy some and then immediately spend all of it? Almost no-body. Merchants adopting Bitcoin will lead to more and more new customer wallets, the owners of most of which will buy more Bitcoin than they need to spend immediately, leading to more and more fiat moving to Bitcoin over the long term. Why can't anyone follow the merchant-adoption idea to its logical conclusion - More Bitcoin will be bought than spent. Many Bitcoin users will just replenish their BTC when making a purchase on these sites too, if they are still wanting to hold as much coins as possible. |
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DaRude
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Activity: 2191
Merit: 1354
In order to dump coins one must have coins
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January 23, 2014, 05:55:27 PM |
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Waiting to see goats receipt from tigerdirect.com  |
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UnDerDoG81
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Activity: 1877
Merit: 1053
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January 23, 2014, 05:56:22 PM |
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Do they have an exact date when reptiloids are going to take over? Sometimes they see the future  But sometimes it´s panic news and bullshit I know. But I also see a WWIII coming. |
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ShroomsKit
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January 23, 2014, 05:57:45 PM |
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50/50 news? More like 99% bullshit. And i love how you post it here as if it's a fact. Typical behaviour of you conspiracy nutters. |
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ShroomsKit
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January 23, 2014, 06:00:55 PM |
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I used to think that the moment a company like Ebay or Amazon starts using Bitcoin the price would jump to crazy amounts. But not anymore.
It will only reach crazy highs by mass adoption and not because of news anymore imo. We're past that.
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T.Stuart
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January 23, 2014, 06:03:33 PM |
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I used to think that the moment a company like Ebay or Amazon starts using Bitcoin the price would jump to crazy amounts. But not anymore.
It will only reach crazy highs by mass adoption and not because of news anymore imo. We're past that.
Well how is adoption going to happen? Terribly sorry if Ebay, Google etc, aren't enough for you! He he  |
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billyjoeallen
Legendary
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Activity: 1106
Merit: 1006
Hide your women
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January 23, 2014, 06:03:40 PM |
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None of these companies are going to accept bitcoins directly. Payment through a payment processor is not bullish. It indirectly causes selling pressure on exchanges.
The reasons we didn't see much selling pressure after Overstock is because so few are actually buying things with bitcoin. Overstock did 500k sales total since Jan 9. 125k was on the first day... That is a huge dropoff. Bitcoin = failcurrency.
Don't you think you've heard this point quite a few times already but that it doesn't actually add up? If people pay with Bitcoin then that means they will buy Bitcoin to begin with. And for all those who decide to buy some Bitcoin, perhaps spurred on by the fact that they learn they can spend it at Overstock, Ebay and many other places, how many do you think will buy some and then immediately spend all of it? Almost no-body. Merchants adopting Bitcoin will lead to more and more new customer wallets, the owners of most of which will buy more Bitcoin than they need to spend immediately, leading to more and more fiat moving to Bitcoin over the long term. Why can't anyone follow the merchant-adoption idea to its logical conclusion - More Bitcoin will be bought than spent. They know that, but some of the day traders here are in full FUD mode going into the weekend hoping to ignite a panic sell-off so they can buy on the cheap. It's getting kinda hard to dismiss all the good news rolling in daily. Two kinds of traders: the kind that profit from volatility and reduce volatility are good for bitcoin. The kind that intentionally increase volatility so they can profit from it are bad for Bitcoin. Doesn't really matter much. It's a much less fragile system than it gets credit for. |
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T.Stuart
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January 23, 2014, 06:06:13 PM |
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They know that, but some of the day traders here are in full FUD mode going into the weekend hoping to ignite a panic sell-off so they can buy on the cheap. It's getting kinda hard to dismiss all the good news rolling in daily. Two kinds of traders: the kind that profit from volatility and reduce volatility are good for bitcoin. The kind that intentionally increase volatility so they can profit from it are bad for Bitcoin. Doesn't really matter much. It's a much less fragile system than it gets credit for.
I'm happy to have learned that point and I feel lucky to have been able to pick it up quite quickly compared to many in here. |
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ShroomsKit
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January 23, 2014, 06:07:16 PM |
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I used to think that the moment a company like Ebay or Amazon starts using Bitcoin the price would jump to crazy amounts. But not anymore.
It will only reach crazy highs by mass adoption and not because of news anymore imo. We're past that.
Well how is adoption going to happen? Terribly sorry if Ebay, Google etc, aren't enough for you! He he Of course exactly like that. I'm just saying it won't be the news itself anymore. Either way is fine with me  |
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DaRude
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Activity: 2191
Merit: 1354
In order to dump coins one must have coins
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January 23, 2014, 06:09:14 PM |
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I used to think that the moment a company like Ebay or Amazon starts using Bitcoin the price would jump to crazy amounts. But not anymore.
It will only reach crazy highs by mass adoption and not because of news anymore imo. We're past that.
What does mass adoption mean for you? Or you just trollin' |
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adamstgBit
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Trusted Bitcoiner
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January 23, 2014, 06:11:50 PM |
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I used to think that the moment a company like Ebay or Amazon starts using Bitcoin the price would jump to crazy amounts. But not anymore.
It will only reach crazy highs by mass adoption and not because of news anymore imo. We're past that.
What does mass adoption mean for you? Or you just trollin' everyone all over the world uses nothing but bitcoin to do anything money realated 1BTC = 1 million oz of gold. |
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UnDerDoG81
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Activity: 1877
Merit: 1053
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January 23, 2014, 06:12:18 PM |
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50/50 news? More like 99% bullshit. And i love how you post it here as if it's a fact. Typical behaviour of you conspiracy nutters.
You are an exact example of what American politicians wants. Believe only our news. Everything else is conspiracy theory and BS. Sure and true, Irak and Saddam has mass destruction weapons. Assad has chemical weapons. And there are many more examples how wrong the "real world news" were. |
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BitChick
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Activity: 1148
Merit: 1001
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January 23, 2014, 06:13:57 PM |
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I used to think that the moment a company like Ebay or Amazon starts using Bitcoin the price would jump to crazy amounts. But not anymore.
It will only reach crazy highs by mass adoption and not because of news anymore imo. We're past that.
I think that merchants adopting BTC won't change the price too drastically. However, when more funds on Wall Street are opened, that is when the price will skyrocket, IMHO. |
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DaRude
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Activity: 2191
Merit: 1354
In order to dump coins one must have coins
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January 23, 2014, 06:15:09 PM |
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I used to think that the moment a company like Ebay or Amazon starts using Bitcoin the price would jump to crazy amounts. But not anymore.
It will only reach crazy highs by mass adoption and not because of news anymore imo. We're past that.
What does mass adoption mean for you? Or you just trollin' everyone all over the world uses nothing but bitcoin to do anything money realated 1BTC = 1 million oz of gold. Baby steps Adam. Think we're on a right path. Lets see how long bears can hold us down with China FUD |
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billyjoeallen
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Activity: 1106
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Hide your women
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January 23, 2014, 06:15:40 PM |
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Many Bitcoin users will just replenish their BTC when making a purchase on these sites too, if they are still wanting to hold as much coins as possible.
Overstock might be surprised at how much new business they get when bitcoin goes up significantly. Buying stuff may be the best way to take profits from a tax avoidance standpoint. I'm planning a whole bunch of purchases myself. |
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MikeH
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January 23, 2014, 06:19:57 PM |
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50/50 news? More like 99% bullshit. And i love how you post it here as if it's a fact. Typical behaviour of you conspiracy nutters.
You are an exact example of what American politicians wants. Believe only our news. Everything else is conspiracy theory and BS. Sure and true, Irak and Saddam has mass destruction weapons. Assad has chemical weapons. And there are many more examples how wrong the "real world news" were. +1 it's fucking annoying that brainwashed tards still use the term conspiracy nuts when if they just took the time to look up some of these 'theories' they'll find substantial proof to a lot of them - they just don't get reported in the controlled media. |
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UnDerDoG81
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Activity: 1877
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January 23, 2014, 06:20:50 PM |
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It is still a big problem for most people to buy bitcoins. There is a too long way to go till you can buy some. Sent your ID details, sent payment verification, sent money from your bank account (what takes 3 days and on weekends there is no bank transaction). And then there are the hackers... It must first become very easy to buy bitcoins and keep them safe. Then people will use it like money.
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DaRude
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Activity: 2191
Merit: 1354
In order to dump coins one must have coins
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January 23, 2014, 06:23:00 PM |
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Many Bitcoin users will just replenish their BTC when making a purchase on these sites too, if they are still wanting to hold as much coins as possible.
Overstock might be surprised at how much new business they get when bitcoin goes up significantly. Buying stuff may be the best way to take profits from a tax avoidance standpoint. I'm planning a whole bunch of purchases myself. That, plus anyone knows how much coinbase/bitpay charge merchants to process btc? If it's lower than 3%? credit cards charge merchants will embrace it with both hands as it bumps up their profit margins. Once wall st sees that there's $ to be made and wider adoption they won't sit on side lines. |
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aminorex
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Activity: 1596
Merit: 1029
Sine secretum non libertas
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January 23, 2014, 06:25:09 PM |
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[some dunning-kreugerish contemptuous nonsense]
and one more for the ignorance is bliss column. bye bye |
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virtualfaqs
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January 23, 2014, 06:28:54 PM |
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There's always 2 things to watch for when a new merchant jumps on the bandwagon:
1. Are they using a 3rd party processor?
2. Are they advertising it on their homepage? Now the Tigerdirect.com one is absolutely huge. But is Tigerdirect.com get less traffic than Overstock? But if you don't take the time to understand the refund policies, you may just stick with credit card if you're not interested in BTC.
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