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Author Topic: You want the bear market to stop? Here are some things you can do :)  (Read 657 times)
Goicerouth63
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August 27, 2018, 11:25:11 AM
 #121

sure i recognize what you suggest. in case you need the market bull run, shall we use bitcoin more. If many peoples the usage of bitcoin, then the needs of bitcoin might be boom. while the demands increase, the fee will increase as well. The cryptocurrency market want extra real users in their day by day.
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virendarnagpal
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August 27, 2018, 11:57:40 AM
 #122

Much motivating and guiding post.
I agree that if more and more members here start trading in bitcoin while making payments / receipts transactions; it's demand will automatically increase.  And as a result the price will not fall in case it is still unable to go up.  
So bear trend can be checked by just involvement of the masses.


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BitGunner
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August 27, 2018, 12:00:33 PM
 #123

I think that it will stop in the nearest future. I am not sure as I am not an expert but it seems to me that this will happen soon. As I know the intuition never lets me down and you should believe in this too

Heleacce
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August 27, 2018, 12:12:39 PM
 #124

These are some decent advices. But I think people are not that interested in participating in the crypto world. Most of us are here just to make some quick money.
d5000
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August 27, 2018, 07:52:33 PM
 #125

This [the "refund" model] indeed is a  very interesting idea. This could be a good marketing strategy but requires vendors to save funds in BTC which is not always possible because they need money to buy merchandise and operate.
That's true, there are logistic challenges. I believe the refund model would work best with virtual goods where the merchant has no cost for a single copy - e.g. software, movies or music, because the risk then becomes more manageable. In this case, he could simply keep the BTC he received until the "deadline" for the refund expires. I wouldn't chose a deadline of more than a week, as the reason for that model is aimed to combat hoarding because of FOMO, and typically the buyer would be able to re-buy the BTC like explained here.

With a deadline of a few days, the merchant had a "delay" in receiving the funds, but it wouldn't be much higher than e.g. the delay for bank transfers, and much less than for the time he must calculate in which "chargeback fraud" could occur with some payment methods. So it would be still attractive.

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Tp the OP and everyone else: educate people around you about crypto in general, tel them how it works in simple and understandable way. When people understand the tech , they wont be afraid of it.
Good suggestion, I'll add it to the OP. For a long time, even most specialized IT journalists didn't really understand how Bitcoin works, since 2017 it's slightly better. ELI5 is still a challenge, though.

(Finally, a short, but meaningful post worth to be answered. Spammers, rot in hell!)

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August 27, 2018, 10:06:07 PM
 #126

If you have a product or service based online business ,accept fixed bitcoin prices with a refund.
For example,a customer buys your service or product for 50 USD worth of btc.The bitcoin price doubles after one week and he actually paid you $100.This would be really frustrating to him so you offer him to refund 50 USD.You kinda lose money,but you get a loyal customer,who is paying with btc.  
Anyway,the bear market won't stop just because a bunch of people started accepting bitcoin payments.
And what happens if after the same period of time Bitcoin loses 50% of its value, do you call the customer back to pay for the 50% loss?

d5000
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August 28, 2018, 12:26:04 AM
 #127

If you have a product or service based online business ,accept fixed bitcoin prices with a refund.
For example,a customer buys your service or product for 50 USD worth of btc.The bitcoin price doubles after one week and he actually paid you $100.This would be really frustrating to him so you offer him to refund 50 USD.You kinda lose money,but you get a loyal customer,who is paying with btc.  
Anyway,the bear market won't stop just because a bunch of people started accepting bitcoin payments.
And what happens if after the same period of time Bitcoin loses 50% of its value, do you call the customer back to pay for the 50% loss?
That's exactly what I wanted to address in the last post. Obviously, that call won't happen Wink

To be more clear: This refund model can only work in two circumstances:
1) The product is a digital good with no marginal cost for the merchant. In this case, the offer can be unlimited - there's no risk for the merchant if he stores the BTC until the deadline; however, his revenue may be cut by 50% if Bitcoin really crashes for that extent until the deadline.
2) The offer is a "special sale offer" with limited stock - in this case, it's like if you give a discount - the goal is to acquire new clients, not really to take massive profit from these sales.

In the end, it becomes an exercise in probability/risk calculation. For example, it's likely that the danger for a 10% crash in a week is under 5%. The danger for a 50% crash in a week should be well under 1% (that happens approximately once per year, or less). So it becomes, to a certain extent, part of your entrepreneurial risk.

If you think the probability for a crash is increasing (e.g. in a situation like in December 2017 where the price sometimes grew 20% per week or more), then you could end these "refund special offers" until the crash happens.

PlusOne88
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August 28, 2018, 01:19:58 AM
 #128

This is good as I actually see these as good possibilities and opportunities for bitcoin to move up. Using bitcoin regularly in businesses and other transactions could create a rise in demands that will result in higher prices and better bitcoin economy. It would be better for bitcoin if they could atleast sustain a day of stability. In this manner maybe users will not be afraid of doing transactions within the given day.
BitcoinPanther
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August 28, 2018, 01:41:53 AM
 #129

An absolutely great share here d5000, we need more people like you.

Quite sensible suggestions, practical and does not require any advanced mathematical prowess to decipher. You made everything as simple as it could get.

And i am glad that here exist a post that says "use/spend your bitcoin" when many would say HODL! I have always believed the same, you want bitcoin to work out? Then work on it. Earn and spend. Without utilization, bitcoin as a whole becomes irrelevant. Its primal design as a system of payment needs to be fulfilled for us to see bitcoin grow and stabilize.

Again, thank you for the wonderful post.




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MidKnight
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August 28, 2018, 02:22:21 AM
 #130

That's quite remarkable OP but users still hate the fees. It does not work on physical stores when a buyer who uses bitcoin just want to get a piece of toilet paper. The devs can do a lot better than us users and that is by fixing all the damned issues that all of us are complaining about.

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