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Author Topic: Will Further Bitcoin Adoption Lead To Further Price Declines?  (Read 939 times)
bitcoinval
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February 20, 2014, 01:47:13 PM
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Seems that when companies like Overstock "accept" Bitcoin they are actually selling Bitcoin as they don't hold them and immediately convert to fiat.
Thoughts http://smaulgld.com/will-greater-adoption-mean-higher-bitcoin-prices/
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February 20, 2014, 02:28:26 PM
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The article does not take into account other activities that have taken place the last few weeks such as Mt.Gox stopping all withdrawals that triggered a panic nor does it take into account governments like Russia stating that Russian companies should not use or accept virtual currencies.  There's been a LOT of negative press lately, and it is a very dynamic environment with a lot of variables.  Just attributing a lack of increase in value because Overstock started accepting bitcoin is like saying the ruble is going to increase because Overstock starts accepting it.  It doesn't (and shouldn't) happen.
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February 20, 2014, 05:57:52 PM
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That is true there are other factors driving the price of bitcoin down and they will persist
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