Topic: Shops/stores are the biggest sellers of Bitcoin ?? (Read 302 times)
Don't spread such fud. Yes bitcoin is more acceptable everywhere but this won't make people to sell it unnecessarily and lower the price o bitcoin. They will hold it till the prices goes up.
I agree with you on this. I too think that this dip is the result of marhet manipulation and they are faking the theft. Though I am not sure but feeling this strongly from inside.
The shops tend to do this because of the lack of knowledge in bitcoins. They take them out on a regular basis because of the fear of a drop in prices. And this mass withdrawal of bitcoins is what leads to the chain reaction of a drop in prices too.
I agree with this. Nowadays bitcoin is a popular site for investment. Bitcoin transactions are occurring in store and shops. It is a great place for business. I hope it will increase in near future.
Shops dont hold onto FIAT cash either, they pay the bills, they pay employees and they must pay for the stock they are selling. Of course shops dont keep bitcoin when most have costs to meet every day.
I think alot of shops are only handling the transaction via a 3rd party in any case. The utility of being able to use bitcoin anywhere is generally a positive and buyers must get the bitcoin to take part in that transaction, its still creating an economy in any case.
I think alot of shops are only handling the transaction via a 3rd party in any case. The utility of being able to use bitcoin anywhere is generally a positive and buyers must get the bitcoin to take part in that transaction, its still creating an economy in any case.
This would be very much appreciable if the shops or stores use the bitcoin as a medium of exchange. Everyday a shop or store needs to buy some goods to sell to make profit. It would bring more profits by trading with bitcoin.
A lot appreciable irrespective of whether they convert immediately or not. As far as I am concerned, their conversion to fiat has little or no effect on the value of bitcoin as that is basically being done by manipulation by those who hold a huge side of it and already sold a lot at the peak anyway. The market is very volatile and normally any shop will be insane to keep holding at this stage when they can stand a chance to lose pretty fast within a twinkle of seconds. So, who would not sell in such scenarios?
Yes, you are partially right. The shops or stores are biggest sellars. Then again, they are the biggest promoters and through them Bitcoin gets most exposure and more people are interested to buy Bitcoins.
I read that shops/stores sell Bitcoin immediately and get cash because of fear of price change.
As Bitcoin is more accepted at shops/stores, Bitcoin selling will be more and bitcoin will come down to $2000 or $1,000
The mistake you people make is that as long as some people are selling, some are buying and only if we get to see demand more than supply before we can start seeing any huge possibility of less volatility. When the first bitcoin based payment processor was evolving, we faced such a problems of heavy downfall around $200 levels in 2015 but later they announced that they were having exclusive buyers and not selling in open market. But how true it was still a doubt.As Bitcoin is more accepted at shops/stores, Bitcoin selling will be more and bitcoin will come down to $2000 or $1,000
You cannot blame any shop for doing what they have to do, since the market is volatile anyway and it is not like we really have plenty of them anyway, but you have also forgotten that some are buying to pay with cryptocurrency before shops even decide to exchange immediately.
lets assume they are. the following conclusion is still DUMB as shit.
for every satoshi that these shops sell on the market there has to be someone else who buys them so there shouldn't be any disturbance in the balance and 0 change in price.
you buy 1 satoshi with your fiat, price goes up, you pay the shop, the shop sells that 1 satoshi price comes down to where it was == balance.
not to mention that YOU buy bitcoin from the exchanges which means price will go up.
but the SHOPS don't sell on exchanges which means their sell pressure won't be felt on exchanges so the first step (the rise) is there but the second (drop) is not. so if anything price should go up
.... which it does because it is how adoption works. last year about 500000 merchants in Japan started accepting bitcoin so price went from about $1000 to $6000
As Bitcoin is more accepted at shops/stores, Bitcoin selling will be more and bitcoin will come down to $2000 or $1,000
for every satoshi that these shops sell on the market there has to be someone else who buys them so there shouldn't be any disturbance in the balance and 0 change in price.
you buy 1 satoshi with your fiat, price goes up, you pay the shop, the shop sells that 1 satoshi price comes down to where it was == balance.
not to mention that YOU buy bitcoin from the exchanges which means price will go up.
but the SHOPS don't sell on exchanges which means their sell pressure won't be felt on exchanges so the first step (the rise) is there but the second (drop) is not. so if anything price should go up
.... which it does because it is how adoption works. last year about 500000 merchants in Japan started accepting bitcoin so price went from about $1000 to $6000
I read that shops/stores sell Bitcoin immediately and get cash because of fear of price change.
As Bitcoin is more accepted at shops/stores, Bitcoin selling will be more and bitcoin will come down to $2000 or $1,000
Instant payment processor does not mean convert large amounts of Bitcoin to Fiat at the same time, I think the effect will not make Bitcoin price fall to $ 2k and Bitcoin demand will also grow if more stores accept Bitcoin as payment also keep in mind that most users don't directly spend their Bitcoin in the storeAs Bitcoin is more accepted at shops/stores, Bitcoin selling will be more and bitcoin will come down to $2000 or $1,000
I read that shops/stores sell Bitcoin immediately and get cash because of fear of price change.
As Bitcoin is more accepted at shops/stores, Bitcoin selling will be more and bitcoin will come down to $2000 or $1,000
In that scenario, that will be the risky things that the owner of the stores/shops that needed to faced and to overcome. Well, I think the shops/stores that accepting bitcoin as their mode of payment are automatically doing that method which is selling immediately the bitcoin that they received as a payment because they've known that anytime its value are possibly goes down so that they are unwanted to happen. As Bitcoin is more accepted at shops/stores, Bitcoin selling will be more and bitcoin will come down to $2000 or $1,000
Well, the shops and the stores those who accept bitcoin as a payment method are very appreciable. But I think they are in a fear of this price fall of Bitcoin. But this price will rise up. They are just taking panic which is wrong.
I don't think fear has so much to do about it more that it is a bad business model to receive currency that can lower in price, so it's safer to just convert it.
however, instantly converting it also means that it's never a huge dump, it's just small amounts being sold constantly, but the selling impact should definitely negligible.
however, instantly converting it also means that it's never a huge dump, it's just small amounts being sold constantly, but the selling impact should definitely negligible.
Wow, first of all, the bitcoin that the store receives is not a particularly large number.
Second, because bitcoin transfers are slow and expensive, few people now pay for it in stores.
Second, because bitcoin transfers are slow and expensive, few people now pay for it in stores.
It depend on their strategy, but it is safer to sell immediately.
If bitcoin price is stable, I believe that would be a gate for many stores to accept bitcoin.
If bitcoin price is stable, I believe that would be a gate for many stores to accept bitcoin.
200% profit is one year or 400% profit in 2 years does not run the world economy. Factories, farmlands, shops/stores, workers, businesses run the world economy.
It depend on their strategy, but it is safer to sell immediately.
If bitcoin price is stable, I believe that would be a gate for many stores to accept bitcoin.
If bitcoin price is stable, I believe that would be a gate for many stores to accept bitcoin.
I am not sure about international level but in my country, the domestic exchange did a good job by trying to inculcate the habit of accepting Bitcoin as a payment system but since the government is it showing warning again and again about the use of cryptocurrency in my country, it was difficult for them to hold cryptocurrencies/Bitcoin so exchanges offered the service of immediate cash out in the bank account of seller/merchant to reduce the risk of price volatility.
It's not a surprise that these shops and stores convert every Bitcoin they get. I don't agree that they're the major contributors to the continuous loss of Bitcoin though. There's no proof that the majority of the investors spend every Bitcoin they have to these shops and stores. Imo it should be equalized because if you want to buy something from them you have to buy from an exchange.
Scary.
I don't know who to turn to.
Hold me.
Of course most of them immediately sell. And Bitpay do it for them automatically. And Bitpay have an army of OTC buyers who take them straight off their hands without ever seeing an open market. Where else are you going to get a totally dependable stream of coins other than miners?
I don't know who to turn to.
Hold me.
Of course most of them immediately sell. And Bitpay do it for them automatically. And Bitpay have an army of OTC buyers who take them straight off their hands without ever seeing an open market. Where else are you going to get a totally dependable stream of coins other than miners?
Nah, I doubt if it is it. There are other major things that can contribute to the low price of bitcoin and not just the sellers from shops and stores. Besides, with the way the government of the countries are banning cryptocurrency in their countries, the quantity of shop and stores owners who are using cryptocurrency as a method of payments are not that much to affect the price of cryptos.
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