Boon for Bitcoin - Established MNC or StartUp ?

[100bitcoin]

Its true that Amazon, Ebay, FB accepting BTC is good for publicity, which will in turn boost the demand and push the price. But, I believe, these are no good for BTC in long run. Coz these companies are not going to hold BTC. As soon as they get it, they'll convert it and large dumping on exchanges will begin. Imagine, Amazon dumping its daily BTC sales on an exchange. Supply will surpass demand taking down the price.

So, I think, Amazon, Ebay & FB like companies, that would like to operate on BTC can really take Bitcoin forward... and we should build them.

What do u think ?

[gagalady]

If bitcoin gets accepted worldwide enough there would be no point to convert them in FIAT money. It would be just another currency. And at the current BTC situation I don't think that this would massively  happen.

[windpath]

This is what overstock and tiger direct are already doing, no way to be sure, but I have not seen a big price impact as a result...

[LadyGaga]

If bitcoin gets accepted worldwide enough there would be no point to convert them in FIAT money. It would be just another currency. And at the current BTC situation I don't think that this would massively  happen.

Acceptance happens through business. What is behind USD's wide acceptance ? Their businesses across the globe. This Amazon Ebay like companies are behind USD's popularity. So to make BTC popular, we need BTC oriented companies.

This is what overstock and tiger direct are already doing, no way to be sure, but I have not seen a big price impact as a result...

USD 1000 to USD 500 ...and u r saying no price impact ?

[jonald_fyookball]

Obviously coins that were held and are now being used to buy stuff and subsequently sold on the market will lower price.  However, those same people buying goods with bitcoin may decide to get more coins.  Plus the overall adoption will go up , and more new people will buy coins.  Some of those people will save some of the coins, plus at some point the big companies may save some coins. 

Bottom line, Its impossible to predict the exact effect but don't think it's an issue.  Certainly long term it's necessary.

[MOON 5000]

I agree, once there is enough people using BTC, it will not need to be traded for FIAT, I believe this may happen sooner than most realize.

[waldox]

trading btc hoarding because you cant really spend it as conveniently as fiat
for btc adoption where you dont need to convert to fiat, you can live soley on bitcoin

[neil54321]

i think it will pump to $1000 again in 2014

[BitCoinDream]

Its true that Amazon, Ebay, FB accepting BTC is good for publicity, which will in turn boost the demand and push the price. But, I believe, these are no good for BTC in long run. Coz these companies are not going to hold BTC. As soon as they get it, they'll convert it and large dumping on exchanges will begin. Imagine, Amazon dumping its daily BTC sales on an exchange. Supply will surpass demand taking down the price.

So, I think, Amazon, Ebay & FB like companies, that would like to operate on BTC can really take Bitcoin forward... and we should build them.

What do u think ?

This is a very valid point u have raised IMO. Bitcoin is a boon to modern entrepreneurs. It is evident that the established ones like Warren Buffet wont like it, but the rising ones like Winklevoss will. Rise of BTC means fall of Buffet's wealth, whereas it is reverse for Winklevoss. I hope the new age entrepreneurs find the true value it and realize it is more profitable than a short term Pump-n-Dump scheme.

[SpanishSoldier]

i think it will pump to $1000 again in 2014

One year today. It has not touched $1000 again...