it is NOT a way to store value* as witnessed by the guys harping about having paid their BFLs in BTC, not USD.
they did pay 1299 USD, but they chose to do it in BTC.
BFL turned these BTC to USD for their products.
all refunds necessarily need to be denominated in USD, resulting in fewer BTC being returned.
*yes, I know, it might work that way right now, but in an ideal world, it shouldnt be IMHO. for now, it furthers attractiveness. lack of btc outputs and prohibitive fees of acquiring BTC make hoarding almost a necessity. as soon as some payment processor lets me instabuy 500BTC at 0.01%, fwds them to amazon, noone should have any motivation in "hoarding".
Topic: As we hoard our coins, what would REALLY make you spend them? (Read 955 times)
The problem is that because Bitcoin changes frequently, every place that accepts them has to give you a horrible deal in case Bitcoin falls to $0.07 the minute they accept it. When it stabilizes a reasonable amount, it will become more practical to accept, and therefore more practical to spend.
fuck i wish i had a little genie whose belly i could rub and in exchange he tells me when BTC reach their hight lol
As someone trying to offer a service for BTC, this is my big concern - and why i'm tempted to start accepting litecoin as well. If hoarding is preferable to general use, then far fewer people are willing to spend bitcoin even as more services come up in an effort to provide a true marketplace.
The other side of this is that it fosters buyer's remorse, wherein everything you'll ever buy for bitcoin becomes like the 10k BTC pizza as the value of bitcoin increases. I just printed someone a case for their raspberry pi for ~1 BTC. Will they eventually be upset that they spent a bitcoin on that object? Perhaps - and if so there's no obvious way to assuage that emotion even though there's no ill will involved on my part. Are bitcoins too valuable for spending? If so, then we really need something like bitcoin but without the hoarding which would prevent true commerce.
I'm hoping that a few coin hoarders will prefer to have something custom 3D printed rather than simply buying a pizza, as at least your physical object might provide a conversation piece and an example of the practical use of bitcoin as a means of transaction, instead of simply exploiting the speculative investment aspect. More of a work of art than a simple purchase.
The other side of this is that it fosters buyer's remorse, wherein everything you'll ever buy for bitcoin becomes like the 10k BTC pizza as the value of bitcoin increases. I just printed someone a case for their raspberry pi for ~1 BTC. Will they eventually be upset that they spent a bitcoin on that object? Perhaps - and if so there's no obvious way to assuage that emotion even though there's no ill will involved on my part. Are bitcoins too valuable for spending? If so, then we really need something like bitcoin but without the hoarding which would prevent true commerce.
I'm hoping that a few coin hoarders will prefer to have something custom 3D printed rather than simply buying a pizza, as at least your physical object might provide a conversation piece and an example of the practical use of bitcoin as a means of transaction, instead of simply exploiting the speculative investment aspect. More of a work of art than a simple purchase.
Unless you've got like 0 fiat any remorse is misplaced. Guy with $10k in the bank should not be thinking damn, I wish I hadn't spent 1 BTC on those pizzas, he should be thinking damn, why didn't I buy 20 more BTC.
And if you've got no fiat left then what are you going to do but eat at pizzaforcoins and bitcoinstore? You gunna regret eating and buying a laptop when yours breaks? I don't think so.
As someone trying to offer a service for BTC, this is my big concern - and why i'm tempted to start accepting litecoin as well. If hoarding is preferable to general use, then far fewer people are willing to spend bitcoin even as more services come up in an effort to provide a true marketplace.
The other side of this is that it fosters buyer's remorse, wherein everything you'll ever buy for bitcoin becomes like the 10k BTC pizza as the value of bitcoin increases. I just printed someone a case for their raspberry pi for ~1 BTC. Will they eventually be upset that they spent a bitcoin on that object? Perhaps - and if so there's no obvious way to assuage that emotion even though there's no ill will involved on my part. Are bitcoins too valuable for spending? If so, then we really need something like bitcoin but without the hoarding which would prevent true commerce.
I'm hoping that a few coin hoarders will prefer to have something custom 3D printed rather than simply buying a pizza, as at least your physical object might provide a conversation piece and an example of the practical use of bitcoin as a means of transaction, instead of simply exploiting the speculative investment aspect. More of a work of art than a simple purchase.
The other side of this is that it fosters buyer's remorse, wherein everything you'll ever buy for bitcoin becomes like the 10k BTC pizza as the value of bitcoin increases. I just printed someone a case for their raspberry pi for ~1 BTC. Will they eventually be upset that they spent a bitcoin on that object? Perhaps - and if so there's no obvious way to assuage that emotion even though there's no ill will involved on my part. Are bitcoins too valuable for spending? If so, then we really need something like bitcoin but without the hoarding which would prevent true commerce.
I'm hoping that a few coin hoarders will prefer to have something custom 3D printed rather than simply buying a pizza, as at least your physical object might provide a conversation piece and an example of the practical use of bitcoin as a means of transaction, instead of simply exploiting the speculative investment aspect. More of a work of art than a simple purchase.
A sick deal on something. Like 50% below retail on something that's a couple thousand or more like a DJ Set or Something. Pretty much I'm getting awesome bang for my buck and know I can keep/get it back or turn around my bitcoins easily.
Let's be honest-bitcoins at least at this point are more of a way to store wealth than they are a currency. If you disagree, compare them to silver or gold. We are holding onto them right now because the price continues to rise (as we would with silver and gold), and it is only the rational thing to do. So, what would REALLY make you crack open that piggy bank and start spending, at least a little?
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