BitPay black friday numbers suck?

[Crazy]

Yes, welcome to bitcoin

[TheFacilitator]

All I see on the speculation subforum are posts by people who believe we`re going to see $10,000 per coin soon or some other wildly optimistic number, yet I also see many of the same people writing that they used their bitcoins this week for shopping. Why would you shop with your coins if you think they`ll be worth 10x (or whatever figure) next year? Is everyone here insane or what?

I spent 100 mBTC on gifts...then immediately afterwards I bought 100 mBTC from coinbase. problem solved.

[notme]

All I see on the speculation subforum are posts by people who believe we`re going to see $10,000 per coin soon or some other wildly optimistic number, yet I also see many of the same people writing that they used their bitcoins this week for shopping. Why would you shop with your coins if you think they`ll be worth 10x (or whatever figure) next year? Is everyone here insane or what?

They are talking about potential, not current value.  Whether or not the potential will play out in the future is unknown, so it doesn't hurt to lock in a small part of the tremendous gains most have seen this month, especially if it helps make a case for merchant adoption.

[KeyserSoze]

Why would you shop with your coins if you think they`ll be worth 10x (or whatever figure) next year? Is everyone here insane or what?

Personally there a number of factors:
- I understand that what is happening with bitcoin may continue or it may not. It could be $10,000 or $100,000 or never more than $1,250. I may as well hold some and spend some so I gain in either event.
- I was lucky to have bought years ago. I feel like I can spare a few.
- I could die tomorrow. Why not enjoy it while I have it? And not just me, but my family as well?
- Even though I am self-employed I still live "check to check," it's just that my checks are sporadic. I am not wealthy. I'm always scraping by to get that mortgage payment. I have no savings aside from bitcoin. I don't feel like I could spare cash for the holidays but I do feel like I could spare a few coins.
- On top of those reasons there is always the old "why would you buy a computer when tomorrow it'll be faster and cheaper?" At some point, if one wants a computer, one just needs to dive in without over-analyzing it.

[Crazy]

All valid points except the last one. You don't really NEED to spend them, as you might NEED a computer to achieve some desired goal. In which case it would be a necessary sacrifice.

[Buffer Overflow]

I spent 100 mBTC on gifts...then immediately afterwards I bought 100 mBTC from coinbase. problem solved.

Yes this a personal rule I've always stuck to. If I spend some coins, I always top up again with equal or greater amount.

This way I protect myself from self butthurt if price rises.

[proudhon]

All I see on the speculation subforum are posts by people who believe we`re going to see $10,000 per coin soon or some other wildly optimistic number, yet I also see many of the same people writing that they used their bitcoins this week for shopping. Why would you shop with your coins if you think they`ll be worth 10x (or whatever figure) next year? Is everyone here insane or what?

Sometimes you just want something.

[Buffer Overflow]

All I see on the speculation subforum are posts by people who believe we`re going to see $10,000 per coin soon or some other wildly optimistic number, yet I also see many of the same people writing that they used their bitcoins this week for shopping. Why would you shop with your coins if you think they`ll be worth 10x (or whatever figure) next year? Is everyone here insane or what?

Why would anybody by a mobile phone? If they waited a few months they could buy a better model cheaper.

[Sindelar1938]

because unless you spend some of your coins, the rest aint gonna be valued at 10k

perfectly logical

[Ozymandias]

In case anyone was actually wondering about BitPay's Black Friday numbers:

http://www.businesswire.com/news/home/20131202005685/en/BitPay-Drives-Explosive-Growth-Bitcoin-Commerce

tl:dr - record breaking volume!

[Buffer Overflow]

ROFL

Revans is going to do his nut!! What a loser!

Time to eat some humble pie.     

[Ozymandias]

ROFL

Revans is going to do his nut!! What a loser!

Time to eat some humble pie.     

FUDsters don't let facts get in the way of their work

[Coinseeker]

That is likely a self-issued press release from Bitpay.  Hardly enough to claim it as "fact".  It's a pretty standard PR move.

[Buffer Overflow]

That is likely a self-issued press release from Bitpay.  Hardly enough to claim it as "fact".  It's a pretty standard PR move.

True but where else is the data going to come from?

[ElectricMucus]

That is likely a self-issued press release from Bitpay.  Hardly enough to claim it as "fact".  It's a pretty standard PR move.

True but where else is the data going to come from?

Somewhere between the left and right hemispheres of Anthony Gallippi.

[beetcoin]

i doubt the numbers will look bad. there was lots of bitcoin fervor and fever this year.. maybe they are probably just withholding the information until it's "good times to release the news." maybe they are holding it for when they want for a rally to occur  

[Coinseeker]

That is likely a self-issued press release from Bitpay.  Hardly enough to claim it as "fact".  It's a pretty standard PR move.

True but where else is the data going to come from?

Nowhere if they don't actually release verifiable data.  But to the OP question, do Bitpay's numbers suck?  I'd ask compared to what or whom?  What are "non-suck" numbers?  If the 6% of all Bitcoin transactions is to be believed, for Bitpay, that's likely a huge success.  As for Bitcoin supposedly being a transactional currency, who's $1000+ price is justified by merchant spending and not just speculation, that's a terrible number.  Just depends on the perspective of the individual.  

[BittBurger]

Here's another reason why the Bitpay numbers may suck:

Because Bitpay's payment system still sucks.  (Sorry guys)

I shopped on two websites this weekend and *both* of them timed out with Bitpay's API.

Sat there for 20+ minutes waiting for the bitpay payment page to refresh and confirm payment, and it never did.

Both merchants got all my invo and completed orders, but I was given no confirmation page.   Nothing.

Pretty sure people bailed while trying to buy.

Amazes me that Bitpay is the biggest and most successful and they don't have basic shit like this figured out yet ....

I've opened a ticket with them on it.  Unfortunately one of their employees who answers tickets has a difficult time comprehending complex descriptions of things.

[beetcoin]

those numbers look pretty good to me. i'm not sure why they'd cook up their numbers, as it would only cause more of a liability towards them down the road.

[ElectricMucus]

those numbers look pretty good to me. i'm not sure why they'd cook up their numbers, as it would only cause more of a liability towards them down the road.

Cheating is done when you think you don't get caught.