Topic: Time Inc. Deal Promises to Ratchet Up Firehose of Selling Pain for Bitcoin - page 2. (Read 2215 times)

If merchant adoption is so high that it drives the price down below $1, then it should be considered a huge success for Bitcoin. The problem you describe only applies to speculators, and while their actions are important to Bitcoin, their success is not.

Well this is technically true over the short term, however over longer periods, more merchant adoption will lead to higher consumer adoption, which will lead to higher prices for bitcoin.

It also makes bitcoin more attractive to own and use because there are more things that users can now spend their bitcoin on

Last thing we should want/need is Bitcoin being used by large corps to pay wages.  The whole point of Bitcoin is to liberate money from the control of governments and central banks.  Inviting large companies to use it as part of our slave-wage system invites the regulation that is anti-thetical to Bitcoin's very raison d'etre.  If Bitcoin is to both survive and thrive, it'll be because it offers the freedom that the USD can't to those who yearn for that freedom.

As the yearners grow in number - and they most certainly will in these waning days of the empire - Bitcoin and/or its progeny will grow just fine.

Have patience, the end (this time around) of this unsustainable foolishness with fiat money is nigh.  No need to try and speed things up artificially.

>

 

I'm shocked that there are still retards who sing the same song " Merchants accepting bitcoins will drive its value down"

When will these retards learn that more merchants = buying power = increase btc value. Ppl spend their btc is the same as they're selling btc to fiat to spend on goods or services. but yet i dont see these retards blame btc exchanges for that.

Fcking mind blowing material there OP.


PS. these retards usually also wish salaries should be paid in btc so thats would "push" btc value without knowing that ppl who wish to have btc can always buy them with their fiat. Its an open market. Do these retards ever think the employees will just "dump" those btc to receive fiat if they dont want bitcoin in the first place?

Again, someppl are just too fcking dumb to even see shit on their plates.

For thirty years, the US dollar was almost solely propped up by Arab oil states "going out and purchasing US dollars so that they could spend them."  It's arguably the only reason there even still *is* a US dollar, and *not* a Soviet ruble.

Bitcoin has 10% inflation right now.  If people in hyper-inflating third world economies are going to see Bitcoin as an alternative to their local currencies, they have to be able to spend them somewhere.

On Tuesday, Time Inc. announced that it would begin accepting Bitcoin payments for certain magazine subscriptions. This means the massive stream of merchant selling pressure, recently intensified by the Microsoft announcement, has just grown by another order of magnitude.

Lynne Biggar, the executive vice president for consumer marketing and revenue at Time Inc., said in the statement:

"This pilot program will give Bitcoin users a seamless and simple way to purchase subscriptions. We hope to expand our partnership with Coinbase in the coming months to create more opportunities to provide greater value to our customers."

Consumers can purchase subscriptions for Fortune, Health, This Old House and Travel and Leisure. Other Time Inc. publications, including People, Sports Illustrated and Food and Wine, have been excluded for now.

But how many people go out and purchase US dollars so they can then turn around and spend those dollars on products and services? How many people are going to run out and buy more bitcoins to replace those spent at merchants? If Bitcoin ever hopes to mature past the Frankie’s Fun Park token stage, the community had better wake up – and fast.



The Bitcoin community is shooting itself in the foot by squarely focusing on merchant integration on the payment side only. This is resulting in ever-growing selling pressure as the majority of merchants simply elect to dump their bitcoins for cash. Since mining is now almost entirely done by large-scale operations, the only solution for relieving this selling pressure is by shifting the focus to wage integration and balancing the scales of the bitcoin economy.

Elephant in the Room

Companies like Microsoft and Time Inc. need to offer bitcoin deposits as a form of compensation to their contractors and employees. Bitpay and Coinbase should be expanding their services to include wage and salary integration. This would allow the bitcoin ecosystem to become less dependent on fiat exchanges, lessen the selling pressure, and promote a more stable and sustainable commerce transaction system.

Full Story: http://altcoinpress.com/2014/12/time-inc-deal-promises-to-ratchet-up-firehose-of-selling-pain-for-bitcoin/