Actual Bitcoin commerce vs. speculation

[johnyj]

Store of value. People will spend inflative fiat and store value in deflative bitcoin

[N12]

Time to bump this thread.

We now know how much business Silk Road had. Is there any Bitcoin business we know of that is comparable?

Everytime I bump this thread, it's the same thing.

Noone can answer the question. Yet people deny Silk Road was Bitcoin's biggest business.

[adamstgBit]

I buy about 0.5BTC a month  at bitcoin-cigarettes.com

I buy and sell stocks priced in BTC

I bought many many other smaller things like a Diablo 3 Beta testing account, so i could try diablo 3 b4 it came out

dont worry guys, I am supporting the bitcoin economy! 

[PrintMule]

Time to bump this thread.

We now know how much business Silk Road had. Is there any Bitcoin business we know of that is comparable?

Everytime I bump this thread, it's the same thing.

Noone can answer the question. Yet people deny Silk Road was Bitcoin's biggest business.

It's painfull to see it go, there were genuine people buying btc to get stuff. Although sellers later sold that btc back, but maybe someone kept it.

[Spekulatius]

Store of value. People will spend inflative fiat and store value in deflative bitcoin

The store of value function is ultimately dependant on the acceptance and convertibility of BTC by merchants into other means of value like Gold or Fiat. It is linked to BTC acceptance so value will go down with dwindling acceptance due to lack of business (velocity) for merchants. Its sad but so far only the SD clones seem to generate any business. The rest is speculation.

[Gimmelfarb]

Store of value. People will spend inflative fiat and store value in deflative bitcoin

considering that bitcoin's money supply is inflating, and will be for a very long time, i don't think these arguments make any sense.

[Spaceman_Spiff]

Store of value. People will spend inflative fiat and store value in deflative bitcoin

considering that bitcoin's money supply is inflating, and will be for a very long time, i don't think these arguments make any sense.

Give it 10 years and bitcoin is inflating more slowly than above-ground gold reserves have historically.  And it will only get better with time.
People still seem to think gold is a decent store of value (me too, except if cryptos completely take over, which I could see happening) despite low but constant inflation.

On topic: bitcoinstore.com ?  Probably a lot less action, but still a decent business, no?

[Spekulatius]

Store of value. People will spend inflative fiat and store value in deflative bitcoin

considering that bitcoin's money supply is inflating, and will be for a very long time, i don't think these arguments make any sense.

Give it 10 years and bitcoin is inflating more slowly than above-ground gold reserves have historically.  And it will only get better with time.
People still seem to think gold is a decent store of value (me too, except if cryptos completely take over, which I could see happening) despite low but constant inflation.

On topic: bitcoinstore.com ?  Probably a lot less action, but still a decent business, no?

Any numbers on that?

[N12]

On topic: bitcoinstore.com ?  Probably a lot less action, but still a decent business, no?

Any numbers on that?

I mentioned them in my post, they failed to meet their transactional goal to keep their prices multiple times in succession even though they kept BTC and let them appreciate to skew the statistics (the requirement was in USD per timeframe). I'm not sure how much it was anymore, but it's certainly no match for Silk Road.

[yayayo]

Store of value. People will spend inflative fiat and store value in deflative bitcoin

considering that bitcoin's money supply is inflating, and will be for a very long time, i don't think these arguments make any sense.

Give it 10 years and bitcoin is inflating more slowly than above-ground gold reserves have historically.  And it will only get better with time.
People still seem to think gold is a decent store of value (me too, except if cryptos completely take over, which I could see happening) despite low but constant inflation.

On topic: bitcoinstore.com ?  Probably a lot less action, but still a decent business, no?

The key to bitcoin's attractiveness as a store of value is not that it has a low inflation rate. The key is, that its inflation rate is perfectly predictable. This certainty has a huge psychological impact.


ya.ya.yo!