Topic: Closing the loop - helping retailers not to sell their coins - page 2. (Read 1297 times)
I think it will be hard for people not to convert back to fiat currencies and to stay within the BTC loop. The general public and vendor's wants to measure the value of BTC against their fiat currency value. It would be interesting to see how this play out in the long run. ^heh^
The problem is that without selling them the retailers are assuming risk that the exchange price will fall - meaning their value falls. Not to mention they don't currently have a means of using the coins they earn, a majority wouldn't accept BTC as an alternative to fiat for their pay packet, mainly because they don't know what it is or don't have an easy means of spending them in comparison to fiat (let's be honest here - nearly everyone accepts fiat, very few accept BTC).
I fully agree. This is why people speculate 21 s going to be something about bringing vendors in the story. Cause if I am a retailer and I can purchase my inputs for BTC and replenish my stock the moment I sell an item, why would I exchange BTC for FIAT. If nothing else, this would reduce the amount being exchanged for FIAT.
The problem is that without selling them the retailers are assuming risk that the exchange price will fall - meaning their value falls. Not to mention they don't currently have a means of using the coins they earn, a majority wouldn't accept BTC as an alternative to fiat for their pay packet, mainly because they don't know what it is or don't have an easy means of spending them in comparison to fiat (let's be honest here - nearly everyone accepts fiat, very few accept BTC).
What do you think about this idea CEO of 21 shared with the public?
Would introducing BTC vendors, besides consumers and merchants help BTC adoption and price increase?
http://www.coindesk.com/21-ceo-balaji-srinivasan-bitcoin-job-fair/
Would introducing BTC vendors, besides consumers and merchants help BTC adoption and price increase?
http://www.coindesk.com/21-ceo-balaji-srinivasan-bitcoin-job-fair/
Yes. Ideally a bottom up approach would have worked.
The vendors at the start of the business chain should have adopted Bitcoin, followed by B2C companies.
The reverse would work too.
Having said that, we shouldn't really be bothered about the price now.
Yes, this would be a way towards life exclusively on BTC.
However, I do think his presentation s a bit too optimistic. Alternatively, maybe he s got more info then I do about the current state of crypto economy.
What do you think about this idea CEO of 21 shared with the public?
Would introducing BTC vendors, besides consumers and merchants help BTC adoption and price increase?
http://www.coindesk.com/21-ceo-balaji-srinivasan-bitcoin-job-fair/
Would introducing BTC vendors, besides consumers and merchants help BTC adoption and price increase?
http://www.coindesk.com/21-ceo-balaji-srinivasan-bitcoin-job-fair/
Yes. Ideally a bottom up approach would have worked.
The vendors at the start of the business chain should have adopted Bitcoin, followed by B2C companies.
The reverse would work too.
Having said that, we shouldn't really be bothered about the price now.
I like how he has named his presentation...
They a picture is worth a thousand words and in this case - many thousand dollar + coins down the line.
I like how he has named his presentation...
Does 21 pay salaries in bitcoin? I don't think the question was asked.
Hah. A good point.
However, he only hinted they ll have something to do with including vendors in the loop.
Does 21 pay salaries in bitcoin? I don't think the question was asked.
What do you think about this idea CEO of 21 shared with the public?
Would introducing BTC vendors, besides consumers and merchants help BTC adoption and price increase?
http://www.coindesk.com/21-ceo-balaji-srinivasan-bitcoin-job-fair/
Would introducing BTC vendors, besides consumers and merchants help BTC adoption and price increase?
http://www.coindesk.com/21-ceo-balaji-srinivasan-bitcoin-job-fair/
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