Are you all idiots? ...or what?

[mikewirth]

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?

[LeChatNoir]

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?

No the idiot is you who thinks that trading bitcoins for shit you don't really need will support the price.

[hamiltino]

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.

[franky1]

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??

[Nagle]

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.

If nobody uses Bitcoins for transactions, interest in Bitcoin will decline. Without transactions, Bitcoin is a penny stock with no assets behind it.

[zoukenn]

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.

Yes of course. 99,9% of store which accepts bitcoin for payment converted instantly bitcoin to fiat and with this they exercise much pressure to market.

[JimminyCricket]

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.

No that is a myth.

The reason the BTC price is falling is that miners are selling immediately, and not hoarding.

[franky1]

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.

If nobody uses Bitcoins for transactions, interest in Bitcoin will decline. Without transactions, Bitcoin is a penny stock with no assets behind it.

newegg do not sell groceries or consumables that need purchasing every week. they know that their business model is such that peopl will only buy a TV/computer once every 4 years.

their business model is not based on repeat business everyweek.

newegg, overstock dont really care about repeat business of large goods and all negative points raised about bitcoins usability have nothing to do with raising the market price nor raising merchants desires to continue accepting bitcoin.

for instance overstock CEO see's the real benefits of bitcoin and is not worried about any negative crap said in this topic, he see's the bigger long term picture

[kokojie]

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.

[hamiltino]

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.

No that is a myth.

The reason the BTC price is falling is that miners are selling immediately, and not hoarding.

I never claimed it was the primary reason for the falling price.

[Biodom]

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?

Newegg don't have a discount. If BTC had discount of even 5%, then usage would have improved, I believe.

[franky1]

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.

No that is a myth.

The reason the BTC price is falling is that miners are selling immediately, and not hoarding.

thats a myth too.. miners are not selling out instantly. most of the exchange markets are not doin much FIAT bank transfers in comparison to daily trade volume..

well over 90% of price movements is done by bots/daytraders who play with the prices, without withdrawing/depositing

[LiteCoinGuy]

who owns bitcoin? who has a credit card?

could be the solution  

you should learn more about bitcoin...idiot  



but if you want to support bitcoin, its actually possible to spent AND to safe bitcoin at the same time - amazing  !

[manfred]

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.

No that is a myth.

The reason the BTC price is falling is that miners are selling immediately, and not hoarding.

The miners are suppose to sell, there job is to mine not to hord. No Gold miners is hording gold, they sell it instantly.

[ibminer]

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

[Beliathon]

The whole thing will fall apart if Merchants start seeing it as a waste of time.  

No, it really won't.

At this stage in the game there is no plausible scenario where "the whole thing falls apart". Sorry your get rich quick scheme is taking longer than you hoped. No wait, I'm not sorry at all. Grow up and Fuck off.

[axel2078]

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

[jbrnt]

I agree with OP about spending more bitcoin to get the bitcoin economy going, but buying stuff with coins we are holding is not going to help. We need to buy bitcoin from exchanges first, then use those coins to buy stuff.

[allthingsluxury]

It's not as cut and dry as that.

[L.Detweiler]

Once the smart contracts come into play and even your grandmother has to register her car online through the blockchain by paying with Bitcoins, that's when things will really get real. You have to look at the big picture. Blockchain was created with Bitcoin(p2p payment system) and once the network was large enough and stable, add the smart contracts. Bitcoin is the payment system for the smart contracts using the blockchain. That's been the plan since 1994, it hasn't changed, it's all documented in great detail through the entire process.