Topic: Bitcoin is a unwanted child, people wants to hold fiat - page 2. (Read 2657 times)
Bitcoin is not ready for prime time yet. Is that a surprise for you?
Read the rest of the thread.
This is all good news, par for the course, and growing pains towards what will eventually come.
You seem to have left all that out.
-B-
This is all good news, par for the course, and growing pains towards what will eventually come.
You seem to have left all that out.
-B-
His analysis makes sense
http://www.reddit.com/r/BitcoinMarkets/comments/2gr4v8/adoption_is_killing_bitcoin/
Quote
when merchants 'accept' btc, they are infact just accepting fiat, with coinbase/bitpay insta dumping for them on Bitstamp ..etc.
What this means, is that the more merchants that get signed up to BitPay/Coinbase.. the more BTC holders out there find a legitimate outlet source to buy stuff, the more things get bought (btc sold)... the more price goes down.. the more people want to sell to lock in gains/ preserve capital... etc. When you combine this with miners 3,600 a day.. and the main exchange where this selling is going on (bitstamp).. and it looks like MtGox 2.0 (shit outdated design, slow, run by 2 tweenies who look like karpeles in slovenia).. it all paints a bleak picture imo.
What this means, is that the more merchants that get signed up to BitPay/Coinbase.. the more BTC holders out there find a legitimate outlet source to buy stuff, the more things get bought (btc sold)... the more price goes down.. the more people want to sell to lock in gains/ preserve capital... etc. When you combine this with miners 3,600 a day.. and the main exchange where this selling is going on (bitstamp).. and it looks like MtGox 2.0 (shit outdated design, slow, run by 2 tweenies who look like karpeles in slovenia).. it all paints a bleak picture imo.
http://www.reddit.com/r/BitcoinMarkets/comments/2gr4v8/adoption_is_killing_bitcoin/
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