Are you all idiots? ...or what?

[CryptoCarmen]

I'm hoarding my coins at the moment, if that helps.... you know, all 2 of them       .....I really should sell though  

Yeah, way to go.
I'm hoarding too. We will see BTC rise again. Next time maybe $10000 

I only have 0.1 BTC at the moment lol should I buy more and hold them ? Would be nice to see 1 BTC = 10k $

It would be better $100k

[fathur01]

Wow, there's more aggression and name calling in this forum than most Linux forums I've visited....and that's saying something. LOL 

Unfortunately thats true .
OP: are you buying with bitcoin? I bought the humble bundle once.

[wangjin098]

99.9% of the time, paying with bitcoin goes through a payment processor such as bitpay, bitpay instantly sells your bitcoins for FIAT hence putting sell pressure on the market. So basically if people take your advice right now and start buying products with bitcoins, the price will fall.

but if there are enough people using bitcoin for their transactions,  shoppings, the price of Bitcoin does not fall, because most of thes coins are in circulation.

[chenka563]

i want to buy  but i don't know how to buy ,i have no Bitcoin 

[susan234]

the reason is  that  no person( Or only few people)  used bitcoin for shopping.

[amaclin]

Also the Bitcoin blockchain is useful for a variety of other applications.

No way.
It will be compromized by 51% attack.
There are no reasons to use flawed tool as a basis to apps.

[BootstrapCoinDev]

unlike credit cards that have large equipment costs or subscription costs.. accepting bitcoin is cheap and free of contracts, thus even if they dont see customers use it for months, the business can still offer bitcoins without any worry about costs...

Unfortunately, that's not true.
There's a cost that comes with accepting Bitcoin, and that's mainly education, maintenance, controlling, bookkeeping. Those can easily add up to an amount where it's no longer justified to process Bitcoin payments below a certain threshold.
Also, under specific circumstances, where e.g. an online shop wants to offer a lot of different payment methods, the sheer amount of alternative payment methods may in fact lower the conversion rate of said shop. That's why shop designers usually don't want to clutter their shopping cart checkout with loads of rarely used payment methods.

It's quite possible that these other uses for Bitcoin will also boost its use as a currency because people will need bitcoins for escrow and for payment on the contractual deals they make.
It would be crazy for a retail shop to accept payment for a digital asset you can't claim back in fiat that can be charged back.

[HeroCat]

BTC market currently is real large market in the whole world 

[hayabusa911]

If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin. 

If you've got bitcoin, go spend some buying cool shit at Newegg or Overstock.  The whole thing will fall apart if Merchants start seeing it as a waste of time. 

Don't wait, buy some shit today!  What are you - an idiot?

The only reason BTC has had so much success it because of "dark markets" Most people that are not into the tech of bitcoin purchase the currency to buy illegal drugs online. If you didn't buy your BTC before early 2013 you SIR are not a investor but a complete moron.       

[drrussellshane]

Gresham's Law.

[Victoo]

As said earlier in this thread I also agree that if we use hoarded bitcoins to buy things that would only create selling pressure on market as merchants are probably going to sell their bitcoins immediately.

If everyone buy bitcoins and then buy things that could stabilize the price of bitcoin.

[TheLoser]

I bought alot of shit with them back in the days.

[Soros Shorts]

Well, in order to create growth in Bitcoin usage through the network effect you need more people to "use" it. Even if using it means simply accepting it and dumping it for fiat 5 seconds later.

[philiveyjr]

If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin.  

If you've got bitcoin, go spend some buying cool shit at Newegg or Overstock.  The whole thing will fall apart if Merchants start seeing it as a waste of time.  

Don't wait, buy some shit today!  What are you - an idiot?

unlike credit cards that have large equipment costs or subscription costs.. accepting bitcoin is cheap and free of contracts, thus even if they dont see customers use it for months, the business can still offer bitcoins without any worry about costs...

so are you an idiot??

Yeah true.!! I think this is some sort of publicity work...trying to trick ppl into buying something from those websites..!! Well..I dont think its working.!! 

[btc-facebook]

If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin. 

If you've got bitcoin, go spend some buying cool shit at Newegg or Overstock.  The whole thing will fall apart if Merchants start seeing it as a waste of time. 

Don't wait, buy some shit today!  What are you - an idiot?

The only reason BTC has had so much success it because of "dark markets" Most people that are not into the tech of bitcoin purchase the currency to buy illegal drugs online. If you didn't buy your BTC before early 2013 you SIR are not a investor but a complete moron.       

I would say that the dark markets is what helped bitcoin grow and become more widely known/used, however bitcoin does have many uses outside of dark markets and is still more cost efficient then paying via credit card, especially from a cost standpoint

[hayabusa911]

If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin. 

If you've got bitcoin, go spend some buying cool shit at Newegg or Overstock.  The whole thing will fall apart if Merchants start seeing it as a waste of time. 

Don't wait, buy some shit today!  What are you - an idiot?

The only reason BTC has had so much success it because of "dark markets" Most people that are not into the tech of bitcoin purchase the currency to buy illegal drugs online. If you didn't buy your BTC before early 2013 you SIR are not a investor but a complete moron.       

I would say that the dark markets is what helped bitcoin grow and become more widely known/used, however bitcoin does have many uses outside of dark markets and is still more cost efficient then paying via credit card, especially from a cost standpoint

It may be more cost efficient but people are still getting their bank accounts fucked off just for buying/selling them. BTC is for investors and drugs PERIOD!

[NEM minnow]

Tis the problem of which came first, the chicken or the newegg. 

This is the bootstrapping dilemma.  It is hard to spend bitcoins because no real shop in my city accepts them, but no shops want to accept them because nobody is using them. 

If you believe in this movement it is really important to spend them whenever possible. 

And yes, it does create downward pressure on the exchanges at first, but eventually that won't happen.  When bitcoin is in a good rally those companies won't be selling but hoarding.  Also, eventually if enough people are spending then some people need to be buying again to spend so that will create upward pressure. 

This is a needed growing pain.

[NEM minnow]

If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin.  

If you've got bitcoin, go spend some buying cool shit at Newegg or Overstock.  The whole thing will fall apart if Merchants start seeing it as a waste of time.  

Don't wait, buy some shit today!  What are you - an idiot?

The usefulness of Bitcoin in retail transaction, is doubtful at best. I don't see any benefit in using Bitcoin in a domestic retail transaction, other than for some reason you need to be anonymous when buying a legal product.

The true power of Bitcoin is in a international cross-border transaction:
* US credit cards/banks bans online Casinos? no problem, we could fund gambling account using Bitcoin.
* darknet transactions
* open bazaar style markets
* international remittance
* true global commodity/stock market

Also the Bitcoin blockchain is useful for a variety of other applications.

Bingo. I agree with everything here. Why would anyone go through the hassle of acquiring coins to buy something they can easily buy with the swipe of a debit card? Bitcoin's true usefulness is in these areas in which fiat falls short.

As a former low-stakes online poker player and current sports betting enthusiast, I can say without any doubt that bitcoins are FAR superior methods of funding and withdrawing for these activities.

International remittance is another big one. Anyone use Western Union or MoneyGram lately? In the US, unless you are sending to a Spanish-speaking country, be prepared to pony up big fees.

Lastly, Open Bazaar is going to be big one day. Huge even. For all the people that say it is too difficult for the average Joe to use, trust me, the average Joe will figure it out if he wants to use it badly enough. Average Joes figured out Bitcoin when they realized they could use it to buy their favorite drugs on SR.

I agree with all these statements but in the end we still need regular shops accepting bitcoins too. 

If you win big at the casino.  It is nicer to just shop with the bitcoins directly.
After I sell something on Open Bazzar, it would be nice if I could use that coin to buy some groceries at my neighborhood store. 
If somebody overseas sends you money, instead of paying fees to transfer that bitcoin into fiat, why not just use it in a shop that gives you a discount for bitcoin?

[Eisenhower34]

It may be more cost efficient but people are still getting their bank accounts fucked off just for buying/selling them. BTC is for investors and drugs PERIOD!

The fact that people's bank accounts are getting closed because people are involved in bitcoin has nothing to do with bitcoin, it has to do with the fact that people are using their person bank accounts to conduct business with. If someone wants to engage in the practice of trading bitcoin and/or conducting bitcoin related business then they need to open a business bank account, not use their personal bank account

[doof]

If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin.

Nothing like anecdotal evidence...