Now one million merchants will drive selling pressure!

[johny08]

adoptation is driving the value of an asset up.
- the merchants are keeping alittle bit of btc always in stock or spare.
- the buyer converts his domestic currency into btc and buy the good and is keeping alittle bit of it in his pocket.

alot of people keeping alittle bit in their pocket, what should be good for the price.

turnover is also a very good indication for the value of an asset. demand shows value.

however, i try to understand your argumentation too.

[duke1839]

Good for Bitpay buy bad for the price...

BitPay Plans to Have “One Million Merchants Taking Bitcoin by the End of 2016″

https://www.cryptocoinsnews.com/bitpay-one-million-merchants-taking-bitcoin-end-2016/

I agree in terms of overall health of the bitcoin economy it is totally good..but in terms of price, it is going to be always a negative pressure.

I believe the real use value for bitcoin is what will drive price up, something like drones and autonomous vehicles trying to deal only bitcoin in which case bitcoin become a thing where people really want to have bitcoins in order to use a service!

the merchant adoption i think is a bitter pill

Don't be so short sighted.  Merchant adoption is overwhelmingly a positive.  Hearing people blaming merchants for the recent price decline is about as annoying and irrational as hearing people blaming miners for mining at GHash.io.  Each additional store that accepts Bitcoin increases the awareness of Bitcoin to that store's customers and employees.  I talk to merchants frequently about accepting Bitcoin and most of them, even at this date, have either not heard of it, think there is something illegal about it, or think that Bitcoin went out of business.  I want a "Bitcoin accepted here" sticker on the window of every store I go to.  I want the awareness and advertising that comes with it.   

[painlord2k]

Merchants are users too.
So a million of merchants is a million of consumers.
And a million of consumers with suppliers and employees to pay.
More merchants are there, more it is probable they start accumulating a balance in  BTC to pay other merchants for goods, services or to pay their employees (in full or in part).

[pereira4]

Merchant is basic, now we need common folk using it. Why you want to call Bitcoin a currency, if you are sad that merchants adopt it? whats the point.
Price will go up, with higher demand, thats all.

[pedrampc68]

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[pooya87]

i think its a good news an i hope it happens sooner than later, if the merchants start taking bitcoins then it will grow and it shows that more and more people has and will start using bitcoin and i think it means the growth of this currency and hopefully a bit more stability of the price

[zimmah]

what good is a currency if you can't spend it?

i don't hear anyone complain the dollar is accepted almost everywhere in the world.

and dollar does not increase 1000% in an year.. bitcoin does

Bitcoin was.

If it still will, then merchants will keep profit they make on sales in bitcoins since 1000% a year is much more then their current business profit.

exactly, which will make bitcoin more scarce, and at the same time merchants will want more bitcoin and less dollars, thus they will aggressively advertise bitcoin. Creating a positive feedback loop of both decreased supply and increased demand, and a large boom in price.

 

[xcapator]

Good for Bitpay buy bad for the price...

BitPay Plans to Have “One Million Merchants Taking Bitcoin by the End of 2016″

https://www.cryptocoinsnews.com/bitpay-one-million-merchants-taking-bitcoin-end-2016/

I agree in terms of overall health of the bitcoin economy it is totally good..but in terms of price, it is going to be always a negative pressure.

I believe the real use value for bitcoin is what will drive price up, something like drones and autonomous vehicles trying to deal only bitcoin in which case bitcoin become a thing where people really want to have bitcoins in order to use a service!

the merchant adoption i think is a bitter pill

I think merchant adoption is not a bitter pill at all. have you ever heard of the term demand vs supply?

[ilpirata79]

BitPay Plans to Have “One Million Merchants Taking Bitcoin by the End of 2016″

I also plan to have 2000 women next year... let's see if me wanted that makes it happen...

[thew3apon]

BitPay Plans to Have “One Million Merchants Taking Bitcoin by the End of 2016″

I also plan to have 2000 women next year... let's see if me wanted that makes it happen...

And you will be screaming for help...

[BitcoinBoost]

Bitcoin merchants will be more inclined to keep a percentage of their profits in Bitcoins once they see it stay stable against all the chaos in the economies that is beginning now.

This is not true. In order for a merchant that accept bitcoin to want to hold onto the bitcoin they receive from sales they will need to have something they can spend their bitcoin on. In order for this to be a possibility, we not only need much greater merchant adoption, but also merchant adoption by B2B merchants

Stop making so much sense, the forum might freeze.

[1echo]

yes the more merchants with bitpay the price will be more down

[Eastwind]

If BTC can be circulated inside the economy, the price will go up.

[pattu1]

If BTC can be circulated inside the economy, the price will go up.

I guess the velocity of bitcoin is currently far lesser than the amount of bitcoins in circulation.
So we will have to wait for sometime for BTC to be circulated just within the economy.

[ANTIcentralized]

If BTC can be circulated inside the economy, the price will go up.

Exactly. More merchants accepting bitcoin will cause more people to use bitcoin which will cause more merchants to accept bitcoin, which will cause both more people to use bitcoin and merchants to accept bitcoin on a B2B basis. This should create a greater long term demand for bitcoin (resulting in higher prices).

I would argue that the increased number of merchants accepting bitcoin is only causing a short term price decline until they start to cause more people to use bitcoin

[raveldoni]

It wouldn't create much selling pressure but It could help circulate bitcoin to more people and when there are many merchants /services accepting bitcoins, it would also make people buy bitcoins. It could actually balance the price of bitcoin.

[pattu1]

Some merchants believe in holding bitcoins - overstock and CeX are examples which readily come to mind.

[Eastwind]

Some merchants believe in holding bitcoins - overstock and CeX are examples which readily come to mind.

If they can spend their coins, that is even better.

[indiangrad]

Without selllers, there might be no bitcoin economy. Then price would tank more.

[xmasdobo]

Where there is supply, there is also demand.

Demand will come from consumers abroad trying to pay merchants abroad. If global payment system is picked up, price will reach its equilibrium.

I would love to use Bitcoin for worldwide payments, even tho cashing out is a pain in the ass anyway. So ideally you wouldn't need to cash out.