But they're buying with Bitcoin at current fiat market rate.
So if the bagholders are willing to part with Bitcoin at current market prices, it doesn't matter if they sell it directly on an exchange or if they buy something and let the merchants sell it.
Would there be any difference if those same holders sold for cash and then spent the cash with the merchants?
Topic: Merchants can't dump Bitcoin unless people spend Bitcoin (Read 704 times)
How many customers will have to buy Bitcoin, in order to buy from 100,000 merchants?
Over time, as more merchants accept bitcoin more people will purchase bitcoin for the purpose of buying from such merchant in bitcoin. The current problem is that there are enough longer term holders that own bitcoin that are willing to spend their bitcoin at merchants that would not have otherwise sold it for fiat
People buy slowly or sometimes they earn, but merchants dump at a time to pay their expense. Simple.
So...can merchants dump more than they receive? Or can they dump it faster than they receive it?
Who do merchants get Bitcoin from? Those customers spending Bitcoin - where do those people get all that Bitcoin? Enough Bitcoin to support acceptance for 100,000 merchants? How do they get that much Bitcoin without affecting the market?
If the customers are getting it slowly and the merchants are spending it fast, then there must be a lot more people buying than there are merchants selling.
For some reason, people keep repeating the idea that merchant acceptance will decrease the price of Bitcoin, since merchants will immediately sell any Bitcoin they receive. All those new users dumping Bitcoin will change the market, they say. 100,000 merchants, even.
How many customers will have to buy Bitcoin, in order to buy from 100,000 merchants?
If millions of people immediately dump their fiat for BTC, will the price of fiat decrease relative to Bitcoin?
How many customers will have to buy Bitcoin, in order to buy from 100,000 merchants?
If millions of people immediately dump their fiat for BTC, will the price of fiat decrease relative to Bitcoin?
People buy slowly or sometimes they earn, but merchants dump at a time to pay their expense. Simple.
In my opinion, bitcoin will be more stable if there will be more users and merchants. So the price will not highly fluctuate like this time. And i believe the lower of the bitcoin price, the more attractive it will be in the future.
The volume of dumping bitcoin by merchants is not big enough to impact the price negatively.
And it will never be big enough, unless the majority of people spending Bitcoin are people who don't buy Bitcoin.
We don't know the specific data. I think if ppl don't have bitcoin and can use fiat to buy something, they won't buy bitcoin except they get bargain if paid by bitcoin. Nearly no ppl are shopping with bitcoin! The reason of declining price is probably not the merchants who r dumping btc. The volume of dumping bitcoin by merchants is not big enough to impact the price negatively.
For some reason, people keep repeating the idea that merchant acceptance will decrease the price of Bitcoin, since merchants will immediately sell any Bitcoin they receive. All those new users dumping Bitcoin will change the market, they say. 100,000 merchants, even.
How many customers will have to buy Bitcoin, in order to buy from 100,000 merchants?
If millions of people immediately dump their fiat for BTC, will the price of fiat decrease relative to Bitcoin?
How many customers will have to buy Bitcoin, in order to buy from 100,000 merchants?
If millions of people immediately dump their fiat for BTC, will the price of fiat decrease relative to Bitcoin?
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