Are you all idiots? ...or what? - page 4.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: mikewirth on October 24, 2014, 12:56:08 PM

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.

ibminer

legendary

Activity: 1789

Merit: 2535

Goonies never say die.

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

.....I really should sell though Lips sealed

manfred

legendary

Activity: 966

Merit: 1001

Energy is Wealth

Quote from: JimminyCricket on October 24, 2014, 01:07:08 PM

Quote from: hamiltino on October 24, 2014, 12:59:54 PM

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.

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

who owns bitcoin? who has a credit card?

could be the solution Wink

you should learn more about bitcoin...idiot Tongue

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

!

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: JimminyCricket on October 24, 2014, 01:07:08 PM

Quote from: hamiltino on October 24, 2014, 12:59:54 PM

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

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: mikewirth on October 24, 2014, 12:56:08 PM

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.

hamiltino

hero member

Activity: 644

Merit: 500

P2P The Planet!

Quote from: JimminyCricket on October 24, 2014, 01:07:08 PM

Quote from: hamiltino on October 24, 2014, 12:59:54 PM

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.

kokojie

legendary

Activity: 1806

Merit: 1003

Quote from: mikewirth on October 24, 2014, 12:56:08 PM

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.

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: Nagle on October 24, 2014, 01:02:24 PM

Quote from: hamiltino on October 24, 2014, 12:59:54 PM

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

JimminyCricket

newbie

Activity: 55

Merit: 0

Quote from: hamiltino on October 24, 2014, 12:59:54 PM

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.

zoukenn

full member

Activity: 120

Merit: 100

Quote from: hamiltino on October 24, 2014, 12:59:54 PM

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.

Nagle

legendary

Activity: 1204

Merit: 1002

Quote from: hamiltino on October 24, 2014, 12:59:54 PM

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.

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: mikewirth on October 24, 2014, 12:56:08 PM

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??

hamiltino

hero member

Activity: 644

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P2P The Planet!

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.

LeChatNoir

hero member

Activity: 699

Merit: 501

Coinpanion.io - Copy Successful Crypto Traders

Quote from: mikewirth on October 24, 2014, 12:56:08 PM

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.

mikewirth

sr. member

Activity: 532

Merit: 250

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?

Topic: Are you all idiots? ...or what? - page 4. (Read 5503 times)