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Topic: Actual Bitcoin commerce vs. speculation - page 4. (Read 5468 times)

sr. member
Activity: 252
Merit: 250
Still the Best 1973
August 03, 2013, 02:48:20 PM
#10
That was supposed to be Bank to Bank or (more conservatively) Business to Business. I think you've read the tales of how Bitcoins are supposed to become the financial backbone of the new world order. (sorry for the pun)

i have read those tales. Perhaps not NWO as we come to know it from conspiracists, but a form of a new world order regardless? Especially if the pyramid of fiat collapses. there would be a new order to the world, no?

Yeah, I guess calling it "a new world order" is more accurate. It doesn't refer to that specific conspiracy one, and there would be a new order to the world, given more freedom. I think ElectricMucus was referring to that kind, seeing as the lower case was used.
legendary
Activity: 1722
Merit: 1004
August 03, 2013, 02:47:26 PM
#9
Agree with chodpaba that it's not necessarily correct to view bitcoin primarily as a consumer-driver every-day transactions currency. Even relatively small usage along those lines is enough to enable/unlock bitcoin's myriad other value props.

That said, in response to the OP, do BitPay and Bips publish their transaction numbers?
legendary
Activity: 1834
Merit: 1019
August 03, 2013, 02:43:20 PM
#8
That was supposed to be Bank to Bank or (more conservatively) Business to Business. I think you've read the tales of how Bitcoins are supposed to become the financial backbone of the new world order. (sorry for the pun)

i have read those tales. Perhaps not NWO as we come to know it from conspiracists, but a form of a new world order regardless? Especially if the pyramid of fiat collapses. there would be a new order to the world, no?
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
August 03, 2013, 02:37:37 PM
#7
That was supposed to be Bank to Bank or (more conservatively) Business to Business. I think you've read the tales of how Bitcoins are supposed to become the financial backbone of the new world order. (sorry for the pun)
legendary
Activity: 1834
Merit: 1019
August 03, 2013, 02:32:32 PM
#6
IMO it is a misapprehension of Bitcoin's economic role to see it as primarily an end-user currency.

Right the almighty supposed B2B killer usage.
Keep telling yourself that it will happen, the Banks are literally at our doorsteps.

LOL

It is of my opinion that we are getting closer to B2B (bitcoin-to-bitcoin?). At least closer than we were before. These things take time, as I understand it...
and I think he's referring to Bitcoin's economic role as a constant float in a sea of inflation etc.
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
August 03, 2013, 02:26:14 PM
#5
IMO it is a misapprehension of Bitcoin's economic role to see it as primarily an end-user currency.

Right the almighty supposed B2B killer usage.
Keep telling yourself that it will happen, the Banks are literally at our doorsteps.

LOL
PS: Do not forget to bring Max Kaiser, Bruce Wagner and the Winklevoss Bros, perhaps rpietila will host another conference just for you!
legendary
Activity: 1834
Merit: 1019
August 03, 2013, 08:08:08 AM
#4
Yes, until we get more suppliers that take bitcoin, the end result will typically be a conversion to fiat for merchants. This isn't a bad thing, it's just a way to conduct business logically. They'll likely fully switch over when more and more suppliers of what they need do take bitcoin so they no longer have to convert to USD, in addition to saving lost profits from fiat inflation, but til then, won't. The important thing is, it's this circulation that will increase bitcoin worth. The increasing tendency is to hold coins, it just will be done by more hands. This seems to definitely be a trend.

Also, the cool thing is, when they sell, someone's buying the coin who typically will intend to buy low and sell high, keeping prices stable.
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
August 03, 2013, 07:02:56 AM
#3
What are the incentives to spend Bitcoin rather than selling them and spending the Fiat anyway?

I've bought plenty of stuff "with Bitcoin" but besides the #1 issue of the Bitcoin magazine and the Bitcoin Keychain I've never done so directly.
hero member
Activity: 980
Merit: 500
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August 03, 2013, 06:56:14 AM
#2
I'm guessing there's not. Call me pessimist.
N12
donator
Activity: 1610
Merit: 1010
August 03, 2013, 06:38:31 AM
#1
Wordpress (Nov 2012 to July 2013):
Quote
94 successful transactions so far, pretty low.

Humble Bundle:
Quote
The Humble Double Fine Bundle was actually our first bundle to support it, which came out last month. It represents less than .1% of our sales for Humble Indie Bundle 8, which is pretty surprising for me.

There was also bitcoinstore.com which repeatedly failed to achieve its goals to maintain their low prices.

Do you guys know of any other stats?

Update 1st October: Silk Road is dead, and we now know how much business it had:

Quote
The total revenue generated from launch until July 23, 2013, resulted in approximately 9,519,664 Bitcoins and 614,305 Bitcoins of commission for Silk Road itself, court documents reveal. That converts to roughly $1.2 billion in revenue and $79.8 million in commissions, at current Bitcoin prices.

Today, is there anything Bitcoin is actually used for in meaningful transactional volumes besides drugs (SR), gambling (SD), speculation and mining equipment?
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