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Author Topic: eBay to allow settlements in crypto  (Read 2559 times)
Harley997
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June 16, 2014, 02:13:08 AM
 #41

This may be actually bad news. Merchants dump all the coins to fiat and the bigger are they, the harder is for BTC price to grow.

This is not 100% true. Merchants will sell their bitcoin to cover their costs and some profits but they will hold on to some of it.

There was an article that said that overstock is keeping 10% of their bitcoin revenues.

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June 16, 2014, 02:21:58 AM
 #42

It wouldnt make much sense to say that in any case as the customers themselves will be more likely to buy and then hold coins in anticipation of spending them.   Again it can be argued they only hold them for the period of the transaction but in effect its increasing the probability of holders of btc increasing.

Thats Peter Schiffs line that retailers are a negative for btc but cant say I see the logic.  At worst its neutral, the coins might go full cycle from an exchange to the shop and back again but in some cases theres a percent held now


Take any currency, how many people buy some holiday money before they go.  how many accidentally hold onto foreign coins or notes after they finish their travels.  Im not arguing for large amounts but its some positive use not negative

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