Increases in bitcoin prices are bad for merchants - page 2.

Littleshop

legendary

Activity: 1386

Merit: 1004

Quote from: imanikin on January 03, 2012, 03:52:52 PM

i was willing to spend much more when the price was higher, because i bought them so much lower.

I still use them whenever i can though, because i buy more of them when the rate drops.

BTW, i thought i heard in this video something about how at MtG there is some kind of a mechanism now to protect merchants against exchange fluctuation losses as well...

Bitcoins are "cash" to me. So, i am not converting them to other forms of "cash" (currency) unless i have to for some reason, because i think there is much more upside potential in them, compared to any other currency, including metal...

People do spend more at my store when bitcoins are worth more. The most activity was when bitcoin was $10 or more.

Revalin

hero member

Activity: 728

Merit: 500

165YUuQUWhBz3d27iXKxRiazQnjEtJNG9g

Quote from: ThiagoCMC on January 03, 2012, 06:23:10 PM

Welcome to a deflationary economy!!! Wink

This. It's why I support creating a deflation-neutral, bubble-resistant alternative coin.

ThiagoCMC

legendary

Activity: 1204

Merit: 1000

฿itcoin: Currency of Resistance!

Quote from: PrintCoins on January 03, 2012, 03:17:58 PM

I get the feeling that people spend less bitcoins when they see the price going up. This is an unfortunate side effect where all bitcoin holders become speculators and are just waiting for the market to tops off and buy things (or convert back to cash).

So the more it is going up in value, the less actual economic activity it is used in.

I am looking forward to it leveling back off again. The ups and downs are bad for bitcoin.

Welcome to a deflationary economy!!! Wink

tonto

hero member

Activity: 609

Merit: 500

while I bought a couple things when it hit 25, I bought several coins when price was at 16, so I'm hoping it hits 17 so I can feel better about myself Wink

imanikin

hero member

Activity: 702

Merit: 503

i was willing to spend much more when the price was higher, because i bought them so much lower.

I still use them whenever i can though, because i buy more of them when the rate drops.

BTW, i thought i heard in this video something about how at MtG there is some kind of a mechanism now to protect merchants against exchange fluctuation losses as well...

Bitcoins are "cash" to me. So, i am not converting them to other forms of "cash" (currency) unless i have to for some reason, because i think there is much more upside potential in them, compared to any other currency, including metal...

2weiX

legendary

Activity: 2058

Merit: 1005

this space intentionally left blank

I get thrice the orders since btc is over 4.
It feels like miners and buyers-low dump them to me for gold and silver instead to mtgox.

Matthew N. Wright

hero member

Activity: 588

Merit: 500

Hero VIP ultra official trusted super staff puppet

Quote from: BookofNick on January 03, 2012, 03:25:15 PM

Personally, I spend more bitcoins when the price goes up. Since I bought low, I feel I am getting more value for my money.

Ditto. I waited till the price went up to pay for many things.

BookofNick

full member

Activity: 318

Merit: 116

Personally, I spend more bitcoins when the price goes up. Since I bought low, I feel I am getting more value for my money.

PrintCoins

hero member

Activity: 533

Merit: 501

I get the feeling that people spend less bitcoins when they see the price going up. This is an unfortunate side effect where all bitcoin holders become speculators and are just waiting for the market to tops off and buy things (or convert back to cash).

So the more it is going up in value, the less actual economic activity it is used in.

I am looking forward to it leveling back off again. The ups and downs are bad for bitcoin.

Topic: Increases in bitcoin prices are bad for merchants - page 2. (Read 3320 times)