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Topic: Retail adoption hurts bitcoin price it doesn't help it and here's why - page 2. (Read 5655 times)

full member
Activity: 209
Merit: 100
When a big company or even a little shop starts to accept bitcoin people start to get excited and think this adoption will result in the bitcoin price shooting up. Well I'm here to tell you the exact opposite is what actually happens. If a store or big company accepts bitcoin that's all fine and great but they're not holding on to it they're immediately dumping it in most cases and this will just result in the price getting lower. Places that keep the Bitcoin they get are keeping the price higher but they are a minority most just instantly dump upon receival of the bitcoin. We don't need to just get stores to accept bitcoin we need to show them the true value of it and why they should even themselves use it as a currency and not just dump it as some worthless commodity which some believe it to be. If we do this we will see a real increase in price.

You really think? i believe there are a lot of companies who are interested in Bitcoin and do want to be part of it, and thus keep their BTC in  some wallet and hope the price goes up even further! Even that Overstock boss is a big fan of BTC now and telling everyone how great it is!
I don't think that companies will necessarily keep bitcon as an investment (most companies do not tend to speculate on things unrelated to their business) but rather as a way to potentially pay their employees, suppliers and vendors in the future. Paying the above people this way would likely be cheaper then paying in fiat in many cases.
I agree. The primary reason that people will likely same and accumlate bitcoin would be because they want to pay their vendors, suppliers and merchants in bitcoin.
legendary
Activity: 1582
Merit: 1064

Probably at the end there will be a one or more coins for reach people (commodity) and many others for poor people.
Can you imagine to tell to someone earning ~ 5 dollar/day: today you have earned 0,001 Btc. Quite discouraging. The coin for the masses will be made of biillion coins. Otherwise we have to say that the max cap is 21 billion, considering as unit the mBtc and simply rename it Btc.

If having 0.001 BTC is discouraging, we can always say that I have 100K satoshis.
That would be encouraging.  Cheesy
full member
Activity: 178
Merit: 100
The more people use bitcoin, the higher the price, easy as that.
It doesn't mean the price can't go down, if more current holders are preferring to sell ofcourse it would go lower but as long as the use is expanding it will create a higher low and build on top of that.
hero member
Activity: 988
Merit: 1000
When a big company or even a little shop starts to accept bitcoin people start to get excited and think this adoption will result in the bitcoin price shooting up. Well I'm here to tell you the exact opposite is what actually happens. If a store or big company accepts bitcoin that's all fine and great but they're not holding on to it they're immediately dumping it in most cases and this will just result in the price getting lower. Places that keep the Bitcoin they get are keeping the price higher but they are a minority most just instantly dump upon receival of the bitcoin. We don't need to just get stores to accept bitcoin we need to show them the true value of it and why they should even themselves use it as a currency and not just dump it as some worthless commodity which some believe it to be. If we do this we will see a real increase in price.

You really think? i believe there are a lot of companies who are interested in Bitcoin and do want to be part of it, and thus keep their BTC in  some wallet and hope the price goes up even further! Even that Overstock boss is a big fan of BTC now and telling everyone how great it is!
I don't think that companies will necessarily keep bitcon as an investment (most companies do not tend to speculate on things unrelated to their business) but rather as a way to potentially pay their employees, suppliers and vendors in the future. Paying the above people this way would likely be cheaper then paying in fiat in many cases.
legendary
Activity: 1582
Merit: 1064
I don't know my gut just tells me the OP is a BTC trader and the market hasn't been going as hoped.  The price isn't rapidly falling and more people are using Bitcoin as a result of the retail adoption.  How is this a bad thing?  IF anything it gives people to try out Bitcoin for a reasonable amount of money and then they will see how it works.  People won't try Bitcoin it they think it's a bubble ready to pop!

The downward trend in price seems to be event specific - government intervention in bitcoin, rather than higher retail adoption.
hero member
Activity: 798
Merit: 500
Time is on our side, yes it is!
I don't know my gut just tells me the OP is a BTC trader and the market hasn't been going as hoped.  The price isn't rapidly falling and more people are using Bitcoin as a result of the retail adoption.  How is this a bad thing?  IF anything it gives people to try out Bitcoin for a reasonable amount of money and then they will see how it works.  People won't try Bitcoin it they think it's a bubble ready to pop!
hero member
Activity: 700
Merit: 500
When a big company or even a little shop starts to accept bitcoin people start to get excited and think this adoption will result in the bitcoin price shooting up. Well I'm here to tell you the exact opposite is what actually happens. If a store or big company accepts bitcoin that's all fine and great but they're not holding on to it they're immediately dumping it in most cases and this will just result in the price getting lower. Places that keep the Bitcoin they get are keeping the price higher but they are a minority most just instantly dump upon receival of the bitcoin. We don't need to just get stores to accept bitcoin we need to show them the true value of it and why they should even themselves use it as a currency and not just dump it as some worthless commodity which some believe it to be. If we do this we will see a real increase in price.

As adoption by companies goes up the supply of BTC being used goes up. As users of BTC go up the demand goes up. Right now we are in a massive company sweep, where more and more companies are accepting BTC. The "supply" of companies accepting BTC is far outweighing the "demand" for using said BTC.


In other words when looking at a rough supply/demand chart, US, the PEOPLE, are the demand. The companies are the supply. There is TOO MUCH supply coming in vs demand coming in, to make the price go up right now.

That is the most simplistic I can explain that. I vote to sticky this please. k thx.
sr. member
Activity: 252
Merit: 250
Skoupi the Great
Faith to the system comes with stability. Bitcoin slowly builds its userbase of people that really believe in the technology.
Not scammers, not speculators.

The next stage is more widespread adoption and the price will skyrocket.


Stability in terms of price? If stability --> higher adoption --> price sky rocketing, then it really wasn't stable initially, was it?

It's natural for the price to skyrocket with widesread adoption. Don't confuse stability with stagnation.
legendary
Activity: 1582
Merit: 1064
Faith to the system comes with stability. Bitcoin slowly builds its userbase of people that really believe in the technology.
Not scammers, not speculators.

The next stage is more widespread adoption and the price will skyrocket.


Stability in terms of price? If stability --> higher adoption --> price sky rocketing, then it really wasn't stable initially, was it?
sr. member
Activity: 252
Merit: 250
Skoupi the Great
Faith to the system comes with stability. Bitcoin slowly builds its userbase of people that really believe in the technology.
Not scammers, not speculators.

The next stage is more widespread adoption and the price will skyrocket.
hero member
Activity: 700
Merit: 500
Do these businesses not have any employees? Every buisness that begins accepting has employees getting introduced to bitcoin for the first time. I agree it would be awsome if every buisness that accepted them would at least retain the 2-3% they would pay in fees in bitcoin and I think we as consumers have a right to only spend our coins with those retailers who openly state they retain a portion. But back to my origional point the world is a big place.


They don't necessary have to retain bitcoins. Even if they spread it around, like Overstock is doing with employee bonuses in bitcoin, is a wonderful initiative.

Oh cool, I hadn't heard of that.  Could increase usage exponentially when a new business accepts bitcoin if they give some to employees.
legendary
Activity: 1582
Merit: 1064
Do these businesses not have any employees? Every buisness that begins accepting has employees getting introduced to bitcoin for the first time. I agree it would be awsome if every buisness that accepted them would at least retain the 2-3% they would pay in fees in bitcoin and I think we as consumers have a right to only spend our coins with those retailers who openly state they retain a portion. But back to my origional point the world is a big place.


They don't necessary have to retain bitcoins. Even if they spread it around, like Overstock is doing with employee bonuses in bitcoin, is a wonderful initiative.
sr. member
Activity: 280
Merit: 250
Relax!
When a big company or even a little shop starts to accept bitcoin people start to get excited and think this adoption will result in the bitcoin price shooting up. Well I'm here to tell you the exact opposite is what actually happens. If a store or big company accepts bitcoin that's all fine and great but they're not holding on to it they're immediately dumping it in most cases and this will just result in the price getting lower. Places that keep the Bitcoin they get are keeping the price higher but they are a minority most just instantly dump upon receival of the bitcoin. We don't need to just get stores to accept bitcoin we need to show them the true value of it and why they should even themselves use it as a currency and not just dump it as some worthless commodity which some believe it to be. If we do this we will see a real increase in price.

You really think? i believe there are a lot of companies who are interested in Bitcoin and do want to be part of it, and thus keep their BTC in  some wallet and hope the price goes up even further! Even that Overstock boss is a big fan of BTC now and telling everyone how great it is!
newbie
Activity: 15
Merit: 0
I talk to many people everyday who still have not even heard of bitcoin so what better way for people to be exposed to it than to learn on the job your company now accepts it.
newbie
Activity: 15
Merit: 0
Do these businesses not have any employees? Every buisness that begins accepting has employees getting introduced to bitcoin for the first time. I agree it would be awsome if every buisness that accepted them would at least retain the 2-3% they would pay in fees in bitcoin and I think we as consumers have a right to only spend our coins with those retailers who openly state they retain a portion. But back to my origional point the world is a big place.
newbie
Activity: 44
Merit: 0
This argument has been parroted endlessly. WE KNOW! However, merchant adoption must come first otherwise the average consumer has no reason to even USE bitcoin.
legendary
Activity: 1582
Merit: 1064
If retail do not adopt BTC then what the hell are you gonna spend your satoshi's on? Nothing, because they would not be accepted by anyone.

As for price correlation, this is simple supply and demand with more BTC spending going on then the new adopters whomm see retailers using the product will need to convert fiat to BTC. I believe the expanding demand would outstrip the already circulating, actually linited, BTC hence the medium to long term would push BTC prices up.

In fact, previously, a new retailer accepting BTC was taken as positive news and there used to be a spike in the price of bitcoin.
This is no longer the case now a days, with the BTC price remaining stable.

It doesn't mean it's going to stay that way people just didn't see getting Bitcoin would of paid off for them to spend at such sites like Dell if there are a little more important retailers accepting then the price should go up.

Dell is a very important retailer, in my opinion. In fact, it is proof that bitcoin is almost mainstream and is being treated like a currency, and not just an investment.
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
If retail do not adopt BTC then what the hell are you gonna spend your satoshi's on? Nothing, because they would not be accepted by anyone.

As for price correlation, this is simple supply and demand with more BTC spending going on then the new adopters whomm see retailers using the product will need to convert fiat to BTC. I believe the expanding demand would outstrip the already circulating, actually linited, BTC hence the medium to long term would push BTC prices up.

In fact, previously, a new retailer accepting BTC was taken as positive news and there used to be a spike in the price of bitcoin.
This is no longer the case now a days, with the BTC price remaining stable.

It doesn't mean it's going to stay that way people just didn't see getting Bitcoin would of paid off for them to spend at such sites like Dell if there are a little more important retailers accepting then the price should go up.
legendary
Activity: 1582
Merit: 1064
If retail do not adopt BTC then what the hell are you gonna spend your satoshi's on? Nothing, because they would not be accepted by anyone.

As for price correlation, this is simple supply and demand with more BTC spending going on then the new adopters whomm see retailers using the product will need to convert fiat to BTC. I believe the expanding demand would outstrip the already circulating, actually linited, BTC hence the medium to long term would push BTC prices up.

In fact, previously, a new retailer accepting BTC was taken as positive news and there used to be a spike in the price of bitcoin.
This is no longer the case now a days, with the BTC price remaining stable.
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
This is just silly we need retailers to accept bitcoin because otherwise we can't spend bitcoin which would mean the demand of the Bitcoin would then go lower as it can't be used as much this thread is just silly and spreading yet more fud.
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