My theory is proving true once again - page 3.

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: Wesley on July 24, 2014, 08:56:58 AM

Don't people who use their BTC to buy from Bitcoin-accepting merchants usually replenish their lost BTC after a while? That would create a net neutral effect on Bitcoin prices.

I doubt that most early adopters, who still have hundreds of BTC bought for a few dollars, would want to buy back the same amount at a price higher by a few orders of magnitude after spending them with a new merchant.

minerpumpkin

hero member

Activity: 686

Merit: 500

A pumpkin mines 27 hours a night

Quote from: Wesley on July 24, 2014, 08:56:58 AM

Don't people who use their BTC to buy from Bitcoin-accepting merchants usually replenish their lost BTC after a while? That would create a net neutral effect on Bitcoin prices.

They can't do so forever. Depends on the respective individuals. We'd have to figure out what the typical Bitcoin customer is doing!

Wesley

newbie

Activity: 27

Merit: 0

Don't people who use their BTC to buy from Bitcoin-accepting merchants usually replenish their lost BTC after a while? That would create a net neutral effect on Bitcoin prices.

Malin Keshar

hero member

Activity: 616

Merit: 500

The bitcoin selling pressure by commerces is not a new or unknown one.

But I doubt people would follow that theory before the sellings are open and strong.

Tzupy

legendary

Activity: 2170

Merit: 1094

The seller pressure from BTC accepting retailers is relatively small. This dump was initiated by China,
and the reason is that the Chinese bagholders are increasingly impatient. For the bullish scenario time is running out.

Torque

legendary

Activity: 3710

Merit: 5286

Yep, confirmed. Because it was easy to check and see.

kokojie

legendary

Activity: 1806

Merit: 1003

I had a theory that major retailer acceptance has a short term DOWN effect on the price. Because when a major retailer announce acceptance, old coin holders rush to spend some bitcoin to support that retailer, often creating millions of dollars of transaction volume in a few days, and all these bitcoin will be converted to fiat by the retailer, creating sell pressure, for the short term.

Topic: My theory is proving true once again - page 3. (Read 5897 times)