Topic: How I managed to boost the Bitcoin economy at zero cost (Read 933 times)

Quote from: RitzBitzz on May 18, 2015, 08:10:17 PM

I believe OP has cancelled the auto donations in fiat, and now donate manually to the same non-profit organisation in bitcoin. Hence, will need some "self-discipline to keep my donations going". OP is accelerating bitcoin flow and he is spending the same as before.

Unfortunatly, this doesn't really help bitcoin since these organizations just dump the coins immediately for fiat.

Better to use one of the services that will convert your paycheck to bitcoin. That's the side of the equation needing full attention.

See here: https://www.bitwage.co/

but convert my wage to Bitcoin would be useless if I have nowhere to spend Huh

unless I just save everything I earn

SebastianJu

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Legendary Escrow Service - Tip Jar in Profile

You might find this domain: http://bitcoin100.org/charities/ and this thread https://bitcointalksearch.org/topic/bitcoin-100-developed-specifically-for-non-profits-52543 interesting. The purpose of the project is to convince charities, and so on, to accept bitcoins. Once they does they get their first donation. $1000 in Bitcoin.

You might find a project that suits your donation habit. Wink

turvarya

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Quote from: turvarya on May 18, 2015, 10:34:28 AM

Quote from: turvarya on May 18, 2015, 10:34:28 AM

It will even be better, if we cancel all subscriptions to even our daily and weekly and monthly magazines and inform these people, that we would only re-new it, if they accepted Bitcoin as a payment method.
The companies will only accept BTC if the clients demand for it to happen. ^frustrated^

And what good is it if they're just going to sell those BTC right away and turn them into fiat again, by creating large sell walls everyday?

Remember the price fall for BTC started and got worse when large merchants (Overstock, Dell etc.) started accepting Bitcoin? They did not actually hold or used their BTC, rather they converted them to fiat 'on the fly' using services like BitPay - which caused large sell walls.

So, if Overstock wouldn't have started accepting Bitcoin in January 2014, we would still be at the ATH of ~1000 USD/BTC?
Sure, that makes a lot of sense Roll Eyes

Many more places doing the same thing and having thousands of bitcoin being sold instantly does affect bitcoin price just like any other currency.

C'mon. Seriously?
You know, that the people who spend their Bitcoin on e.g. Overstock, have to get them somewhere, do you? Or do you think, the Bitcoin just magical appear in their wallet and they can spend it.
The price of ~ 233 USD/BTC isn't even bad. Look, where the price was, before the whole MTGox-mess. Ignore the jump to ~ 1000 USD/BTC and the inevitable downfall from there and you may realize, that we are on a good track.

RitzBitzz

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Quote from: MicroGuy on May 18, 2015, 04:28:12 PM

It will even be better, if we cancel all subscriptions to even our daily and weekly and monthly magazines and inform these people, that we would only re-new it, if they accepted Bitcoin as a payment method.
The companies will only accept BTC if the clients demand for it to happen. ^frustrated^

And what good is it if they're just going to sell those BTC right away and turn them into fiat again, by creating large sell walls everyday?

Remember the price fall for BTC started and got worse when large merchants (Overstock, Dell etc.) started accepting Bitcoin? They did not actually hold or used their BTC, rather they converted them to fiat 'on the fly' using services like BitPay - which caused large sell walls.

So, if Overstock wouldn't have started accepting Bitcoin in January 2014, we would still be at the ATH of ~1000 USD/BTC?
Sure, that makes a lot of sense Roll Eyes

Many more places doing the same thing and having thousands of bitcoin being sold instantly does affect bitcoin price just like any other currency.

odolvlobo

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It is a mistake equate the strength of the Bitcoin economy to the price of a bitcoin.

It is important to understand even in a scenario where merchants do not generally exchange bitcoins for fiat, the supply curve could shift and cause the price to fall. The shift in the supply curve would be caused by the increasing ease and speed of the payment system, which would make bitcoins more readily available. Please note that "supply" here is in the context of "supply and demand" rather than "money supply".

WhatTheGox

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I believe OP has cancelled the auto donations in fiat, and now donate manually to the same non-profit organisation in bitcoin. Hence, will need some "self-discipline to keep my donations going". OP is accelerating bitcoin flow and he is spending the same as before.

Unfortunatly, this doesn't really help bitcoin since these organizations just dump the coins immediately for fiat.

Better to use one of the services that will convert your paycheck to bitcoin. That's the side of the equation needing full attention.

See here: https://www.bitwage.co/

It helps a little with normalising bitcoin and OP always has to increase trade volume and pay some fees in the process when going from fiat to coin. Getting paid in wages direct would be tons better though yeah.

MicroGuy

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Quote from: turvarya on May 18, 2015, 10:34:28 AM

I believe OP has cancelled the auto donations in fiat, and now donate manually to the same non-profit organisation in bitcoin. Hence, will need some "self-discipline to keep my donations going". OP is accelerating bitcoin flow and he is spending the same as before.

Unfortunatly, this doesn't really help bitcoin since these organizations just dump the coins immediately for fiat.

Better to use one of the services that will convert your paycheck to bitcoin. That's the side of the equation needing full attention.

See here: https://www.bitwage.co/

sgk

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!! HODL !!

It will even be better, if we cancel all subscriptions to even our daily and weekly and monthly magazines and inform these people, that we would only re-new it, if they accepted Bitcoin as a payment method.
The companies will only accept BTC if the clients demand for it to happen. ^frustrated^

And what good is it if they're just going to sell those BTC right away and turn them into fiat again, by creating large sell walls everyday?

Remember the price fall for BTC started and got worse when large merchants (Overstock, Dell etc.) started accepting Bitcoin? They did not actually hold or used their BTC, rather they converted them to fiat 'on the fly' using services like BitPay - which caused large sell walls.

So, if Overstock wouldn't have started accepting Bitcoin in January 2014, we would still be at the ATH of ~1000 USD/BTC?
Sure, that makes a lot of sense Roll Eyes

No, but we wouldn't be at $235 either.

LiteCoinGuy

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In Satoshi I Trust

I believe OP has cancelled the auto donations in fiat, and now donate manually to the same non-profit organisation in bitcoin. Hence, will need some "self-discipline to keep my donations going". OP is accelerating bitcoin flow and he is spending the same as before.

iam doing the same since 2 years. i only donate in Bitcoin / Litecoin Wink

.

turvarya

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It will even be better, if we cancel all subscriptions to even our daily and weekly and monthly magazines and inform these people, that we would only re-new it, if they accepted Bitcoin as a payment method.
The companies will only accept BTC if the clients demand for it to happen. ^frustrated^

And what good is it if they're just going to sell those BTC right away and turn them into fiat again, by creating large sell walls everyday?

Remember the price fall for BTC started and got worse when large merchants (Overstock, Dell etc.) started accepting Bitcoin? They did not actually hold or used their BTC, rather they converted them to fiat 'on the fly' using services like BitPay - which caused large sell walls.

So, if Overstock wouldn't have started accepting Bitcoin in January 2014, we would still be at the ATH of ~1000 USD/BTC?
Sure, that makes a lot of sense Roll Eyes

sgk

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Activity: 1470

Merit: 1002

!! HODL !!